Industrial Batteries Market

Industrial Batteries Market Overview

Industrial Batteries can be described as the type of batteries that are designed to withstand heavy use, have longer lifespan, and can be deployed in extreme environments and in remote locations that are difficult to access for battery replacement. These batteries are used in various industrial devices that includes forklift, vehicle, electric drill, automated utility meters, remote wireless sensors, GPS tracking devices, automotive toll tags, oceanographic instruments, and process control and monitoring devices. Industrial-grade batteries are used in industrial devices that are often used in remote, hard-to-reach locations where the device needs to be self-powered and battery replacement and recharging are difficult such as structural stress monitoring devices on bridges, underwater seismic measuring devices, and scientific instruments in arctic climates.

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Major Industrial Batteries Market Drivers

Rapid industrialization, rising demand for high capacity power storages, and increasing demand for uninterrupted electric energy across the globe are some of the major factors driving the growth of the industrial batteries market during the forecast period. Additionally, rising demand for back-up power in the industrial sector, coupled with increased recycling efficiency and energy density of lead-acid and lithium-based industrial batteries are supporting the growth of the market. Moreover, the accelerating demand for the industrial batteries in various sectors including the material handling industry, data centres, automotive, construction, telecommunication, power generation and utilities sector is likely to propel the growth of the industrial batteries market. Furthermore, rapidly growing industries that includes telecommunication, IT, automotive, power and energy, among other are further stimulating the demand of industrial batteries globally. However, high capital investment requirement and the stringent government regulation for the use of some toxic chemicals in the production batteries are certain factors that are likely to restrain the growth of the market over the forecast period.

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Based on the type, the market is segmented into lead-acid, nickel-based, lithium-based, and other batteries. The lithium-based batteries is expected to grow at a higher CAGR in the market during the forecast period owing to the various advantages offered by the lithium-based batteries that includes high energy density, high voltage capacity, low self-discharge rate, decreasing price, recyclability, low emission, and low maintenance. Lithium based industrial batteries are used as energy storage device for powering electric vehicles and thus are gaining traction.

Based on the end-user industry, the market is segmented into telecom & data communication, uninterruptible power supply (UPS)/backup, industrial equipment, and grid-level energy storage. The telecom and data communication sector is expected to register faster CAGR during the forecast period. This growth can be primarily attributed to the increasing growth in the telecom industry, coupled with growing demand for high efficiency power backup in the industry. Rise in data usage owing to the rising number of internet users and availability of large number of digital media applications are expected to increase the need for industrial batteries to run telecom power systems, thereby, propelling the growth of the market.

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Regional – Segment Analysis

Based on the region, Asia-Pacific region is anticipated to witness a significant growth in the industrial batteries market during the forecast period primarily due to the increasing urbanization and growing per capita purchasing parity in in developing countries including China, Japan, India, and South Korea. Additionally, growing automotive and telecom industries in the region and increasing demand of uninterrupted power supply and energy storage devices in these industries are further supplementing the growth of the market.

Top Market Players

Various notable players operating in the global Industrial Batteries market include Johnson Controls International Plc, Exide Technologies, EnerSys, Panasonic Corporation, Saft Groupe S.A., GS Yuasa International Ltd., C&D Technologies, Inc., Robert Bosch GmbH, East Penn Manufacturing Company, and LG Chem, Ltd., among other companies. 

Key Developments: 

• • In 2020, Pinnacle Industries Ltd., one of the leading commercial vehicle components company partnered with Phylion Battery, a company manufacturing lithium-ion batteries for light electric vehicles. This partnership aimed to launch of the integrated lithium ion battery assembly facility in Maharashtra, India.
  • In 2019, Battery manufacturer EnerSys launched a thin plate pure lead battery for motive power applications on material handling equipment. The NexSys PURE battery is a combination of advanced carbon and TPPL technology. This launch is expected to enhance the product portfolio of the company.
  • In 2019, EnerSys, one of the leading energy solution companies for industrial applications acquired N Holding AB, the parent company of NorthStar, a battery technology and energy storage solutions company. This acquisition is expected to enhance the product portfolio of the company in industrial battery segment including lithium ion batteries.
  • In 2018, Johnson Controls partnered with JD.com, one of the largest ecommerce company in China, for offering automotive batteries to both consumers and automotive retailers throughout China. This partnership is expected to strengthen the geographical coverage of Johnson Controls in China and Asia-pacific region.

Segments covered in the Report:

The global Industrial Batteries market has been segmented on the type, End-User Industry, and region. Based on the type, the market is segmented into lead-acid, nickel-based, lithium-based, and others. Based on the end-user industry, the market is segmented into telecom & data communication, uninterruptible power supply (UPS)/backup, industrial equipment, and grid-level energy storage.

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Key questions answered in this research report:

• • At what pace is global Industrial Batteries market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Industrial Batteries market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Industrial Batteries market?
  • Which type generated maximum revenues in 2019 and identify the most promising type during the forecast period?
  • What are the various applications of global Industrial Batteries market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Type, By End-User Industry, and By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Johnson Controls International Plc, Exide Technologies, EnerSys, Panasonic Corporation, Saft Groupe S.A., GS Yuasa International Ltd., C&D Technologies, Inc., Robert Bosch GmbH, East Penn Manufacturing Company, LG Chem, Ltd. among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Industrial Batteries Market by Type

• • Lead-Acid
  • Nickel-Based
  • Lithium-Based
  • Others

Global Industrial Batteries Market by End-User Industry

• • Telecom & Data Communication
  • Uninterruptible Power Supply (UPS)/Backup
  • Grid-Level Energy Storage
  • Industrial Equipment
  • Others

Global Industrial Batteries Market by Region

• • North America Industrial Batteries Market(Option 1: As a part of the free 25% customization)

    • North America Industrial Batteries Market by Type
    • North America Industrial Batteries Market by End-User Industry
    • United States of America (US) Industrial Batteries Market All-Up
    • Canada Industrial Batteries Market All-Up

  • Europe Industrial Batteries Market(Option 2: As a part of the free 25% customization)

    • Europe Industrial Batteries Market by Type
    • Europe Industrial Batteries Market by End-User Industry
    • United Kingdom (UK) Industrial Batteries Market All-Up
    • Germany Industrial Batteries Market All-Up
    • France Industrial Batteries Market All-Up
    • Spain Industrial Batteries Market All-Up
    • Rest of Europe Industrial Batteries Market All-Up

  • Asia-Pacific Industrial Batteries Market(Option 3: As a part of the free 25% customization)

    • Asia-Pacific Industrial Batteries Market by Type
    • Asia-Pacific Industrial Batteries Market by End-User Industry
    • China Industrial Batteries Market All-Up
    • India Industrial Batteries Market All-Up
    • Japan Industrial Batteries Market All-Up
    • Rest of APAC Industrial Batteries Market All-Up

  • RoW Industrial Batteries Market(Option 4: As a part of the free 25% customization)

    • RoW Industrial Batteries Market by Type
    • RoW Industrial Batteries Market by End-User Industry
    • Brazil Industrial Batteries Market All-Up
    • South Africa Industrial Batteries Market All-Up
    • Saudi Arabia Industrial Batteries Market All-Up
    • UAE Industrial Batteries Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Industrial Batteries Market All-Up

Global Industrial Batteries Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Johnson Controls International Plc
  • Exide Technologies
  • EnerSys
  • Panasonic Corporation
  • Saft Groupe S.A.
  • GS Yuasa International Ltd.
  • C&D Technologies, Inc.
  • Robert Bosch GmbH
  • East Penn Manufacturing Company
  • LG Chem, Ltd.