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Rising demand for uninterrupted power supply and backup is a key factor driving revenue growth of the market

VANCOUVER, BC, CANADA, June 22, 2022 /EINPresswire.com/ -- The global industrial batteries market size reached USD 17.0 Billion in 2021 and is expected to register a revenue CAGR of 9.0% during the forecast period, according to latest analysis by Emergen Research.

Increasing demand for lithium-ion batteries from the automotive industry is a major factor driving market revenue growth. Rising demand for industrial batteries to power homes, buildings, and machinery and equipment at construction sites is also a factor driving revenue growth of the market. For instance, South Australia is home to the largest lithium-ion battery installation and is powered by Tesla. It has a 100-megawatt capacity that powers 30,000 homes. It has also announced 50%, which will raise its capacity to 150 MW.

An emerging trend in large-scale battery storage is to deploy centralized batteries in a district to store the surplus energy generated by locally distributed generation plants, such as rooftop solar PV and others. These battery storage systems are connected to the distribution network and can be directly controlled by the distribution system operator.

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Competitive Terrain:

The Global Industrial Batteries Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold.

Key players in the market include EnerSys, Exide Industries Ltd., LG Chem, C&D Technologies, Inc., SK Innovation Co., Ltd., GS Yuasa International Ltd., Robert Bosch GmbH, SAMSUNG SDI Co., LTD., Solid Power, Inc., Amara Raja Group, Rolls Battery, and Saft.

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Emergen Research has segmented the global industrial batteries market on the basis of product type, battery type, end-use, and region:

Product Type Outlook (Revenue, USD Billion; 2019–2030)

Lithium-Ion

Lead-Acid

Nickel-Metal Hydride

Nickel-Cadmium

Others

Battery Type Outlook (Revenue, USD Billion; 2019–2030)

Primary Battery

Secondary Battery

End-Use Outlook (Revenue, USD Billion; 2019–2030)

Automotive

Telecom & Data Communication

Grid-Level Energy Storage

Power Supply/Backup

Others

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Key Highlights From the Report

The Nickel-Metal Hydride batteries segment is expected to register a steady growth rate due to content of fewer toxic metals as compared to other batteries such as Nickel Cadmium (Ni-Cad), and is currently labeled as environmentally friendly. This battery type has approximately 30% more capacity and periodic exercise cycles need to be done less often, is also easy to store and transport, and not subject to regulatory guidelines.

Automotive segment revenue is expected to register a rapid growth rate during the forecast period due to high demand for rechargeable batteries with greater power capacity for powering Electric Vehicles (EVs).

Moreover, Automotive Original Equipment Manufacturers (OEMs) are increasing investment in developing more advanced technologies, including battery power capacity, production volume, and plant upgrade, among others, which is driving revenue growth of the segment.

Key Benefits of Buying the Global Industrial Batteries Report:

Comprehensive analysis of the changing competitive landscape

Assists in decision making processes for the businesses along with detailed strategic planning methodologies

The report offers an 8-year forecast and assessment of the Global Industrial Batteries Market

Helps in understanding the key product segments and their estimated growth rate

In-depth analysis of market drivers, restraints, trends, and opportunities

Comprehensive regional analysis of the Global Industrial Batteries Market

Extensive profiling of the key stakeholders of the business sphere

Detailed analysis of the factors influencing the growth of the Global Industrial Batteries Market

Regional Analysis:

This section of the report offers valuable insights into the geographical segmentation of the Industrial Batteries market, alongside estimating the current and future market valuations based on the demand-supply dynamics and pricing structure of the leading regional segments. Furthermore, the growth prospects of each segment and sub-segment have been meticulously described in the report.

The report classifies the global Industrial Batteries market into various regions, including:

North America (U.S., Canada)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Middle East & Africa (Saudi Arabia, the U.A.E., South Africa, Rest of MEA)

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Table of Content

Chapter 1. Methodology & Sources

Chapter 2. Executive Summary

Chapter 3. Key Insights

Chapter 4. Industrial Batteries Market Segmentation & Impact Analysis

Chapter 5. Industrial Batteries Market By Product Type Insights & Trends, Revenue (USD Billion)

Chapter 6. Industrial Batteries Market By Battery Type Insights & Trends, Revenue (USD Billion)

Chapter 7. Industrial Batteries Market By End-Use Insights & Trends, Revenue (USD Billion)

Chapter 8. Industrial Batteries Market Regional Outlook

Chapter 9. Competitive Landscape

Chapter 10. Company Profiles

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Industrial Batteries Market Trends, Growth, Forecast 2030