Industrial Battery Market Evolving Technology and Growth Outlook 2020 to 2025

The report elaborates the complete details covering product definition, product type, and application. The report covers useful details which are categorized based on Industrial Battery production region, major players, and product type which will provide a simplified view of the Industrial Battery industry. The Industrial Battery market report presents the competitive scenario of the major market players based on the sales revenue, customer demands, company profile, the business tactics used in Industrial Battery market which will help the emerging market segments in making vital business decisions.

The market for industrial battery is expected to grow at a CAGR of over 8.36% during the forecast period of 2020 - 2025.

Industrial Battery Market Segmentation:
This report on Global Industrial Battery market is a detailed research study that helps provides answers and pertinent questions with respect to the emerging trends and growth opportunities in this industry. It helps identify each of the prominent barriers to growth, apart from identifying the trends within various application segments of the Global market for Industrial Battery. Collecting historical and recent data from various authentic resources and depending on all the factors and trends, the report presents a figurative estimate of the future market condition, along with compound annual growth rate (CAGR).

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Global Industrial Battery market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including EnerSys, Exide Industries Limited, GS Yuasa Corporation, and East Penn Manufacturing Company, amongst others.

Lithium-Ion Battery (LIB) Technology to Witness a Significant Growth Rate
- Lithium-ion battery (LIB) is expected to witness significant growth in the global industrial battery market, over the forecast period, majorly due to its favorable capacity-to-weight ratio. Other factors boosting the LIB adoption include their properties like better performance, higher energy density, and decreasing price.
- The price of LIB is usually higher compared to other batteries. However, leading players in the market have been investing in R&D activities to improve LIB's performance and price, in order to gain economies of scale. The emergence of new and exciting markets, such as energy storage systems (ESS), for both commercial and residential applications, is driving the demand for LIB.
- Lithium-ion batteries are witnessing a massive demand in the battery energy storage market, owing to their declining prices. The United States Department of Energy (DOE) announced an interim price target of USD 125/kWh by 2020, and the prices for lithium-ion batteries is estimated to fall to as low as USD 73/kWh by 2030.
- Additionally, lithium-ion batteries are expected to hold the most significant share in the battery energy storage market in the coming years, as they require little maintenance, are light-weight, and have a reliable cycle life, high energy density regarding volume, and high charge/discharge efficiency.

Asia-Pacific to Dominate the Market
- Asia-Pacific accounted for the major share of the industrial battery in 2018 and is expected to continue its dominance over the forecast period. The market for industrial batteries in Asia-Pacific is majorly driven by China, India, Japan, and South Korea.
- In 2018, China’s total energy storage project capacity reached 1018.5 MW, 216% increases compared to the capacity in 2017. The newly added grid-side energy storage capacity in China reached 206.8 MW, accounting for around 36% of the new installed capacity in 2018 in the country. The grid-side energy storage sector was the biggest consumer of energy storage installation in 2018, by capacity.
- Factors such as significant growth in renewable power generation capacity, energy storage targets released by electric utilities in 2018 coupled with the declining battery cost have driven the large-scale energy storage capacity additions in the country.
- Hence, the growth witnessed in energy storage deployment in 2018 is expected to continue in the coming years as well, which, in turn, is expected to be one of the biggest drivers for the industrial battery market in the country, during the forecast period.
- On the other hand, the Indian retail market is growing at a rapid rate with urbanization and increasing per capita purchasing parity in the country. Major foreign retail chains are entering the country, and domestic retail chains have also expanded their operations owing to the rising demand.

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This independent 162 pages report guarantees you will remain better informed than your competition. With over 80 tables and figures examining the Industrial Battery market, the report gives you a visual, one-stop breakdown of the leading products, submarkets and market leader’s market revenue forecasts as well as analysis to 2025.

Reasons to Purchase this Report
• Impact of low unit costs, diversified product ranges and intense competition on the market
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• Regional analysis of the market
• Identifying the latest developments, market shares, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in Excel)

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This release was published on openPR.