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Energy Industry News Releases

Global Industrial Batteries Market Industry New Revenue Pockets


(EnergyIndustry.Net, September 20, 2021 ) The industrial batteries market was valued at USD 7.45 billion in 2015 and is projected to reach USD 10.84 billion by 2021, at a CAGR of 6.5% from 2016 to 2021. The growth of this market is expected to be fueled by factors such as increasing demand for use in electric vehicles. The industrial batteries market is expanding and offering varied growth opportunities to players operating in the market. The increasing demand for power backup, growth in the renewable energy sector, increased recycling efficiency of lead- and lithium-based industrial batteries are also some key factors expected to drive the growth of industrial batteries market in the near future.

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Industrial batteries are durable and are used in applications demanding voltage stability in any conditions, leading to improved battery life, consistent performance, and favorable pricing. Industrial batteries are being adopted for use in refineries, power plants, onshore or offshore oil & gas platforms, and airports, as these applications require reliable battery systems that work efficiently in absence of power under extreme operating conditions.

Key players operational in the industrial batteries market, such as Johnson Controls (U.S.), Johnson Controls (U.S.), EnerSys Inc. (U.S.), SAFT Groupe S.A. (France), and GS Yuasa Corporation (Japan) launched various new products to cater to the diverse needs of customers and expand their presence in the market.

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Asia-Pacific is expected to be the fastest-growing region in the industrial batteries market in 2015. China, Japan, and South Korea are the major markets for industrial batteries in Asia-Pacific. The increasing demand for industrial batteries and government support for the use of renewable energy devices in several countries is expected to act as a key driver for the growth of industrial batteries market in Asia-Pacific.

Based on end-user industry, the market has been segmented into telecom & data communication, uninterruptible power supply (UPS)/backup, grid-level energy storage, industrial equipment, and others. Telecom & data communication is expected to be the fastest-growing segment of the industrial batteries market during the forecast period. The growth of the market is majorly driven by this segment, as a majority of IT & telecom companies need uninterruptable power supply with high capacity. These organizations need large-scale batteries to ensure uninterrupted flow of electricity during power failures, as even short-term power outages can prove extremely costly and lead to financial as well as data loss in these companies.

Based on type, the market has been segmented into, lead-acid, nickel-based, lithium-based, and others. Lithium-based battery is expected to be the fastest-growing segment of the market in 2015. The growth of the market is majorly driven by increasing application of these batteries in emerging applications, such as transport infrastructure, oil & gas, medical, mining, and so on. Lithium-ion batteries provide high energy and power density in terms of volume as well as high charge/discharge efficiency. These batteries are lightweight than batteries such as lead-acid and nickel metal hydride.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


Mr. Aashish Mehra


Source: EmailWire.Com

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