Gel Battery Market 2021 Size, Status and Business Outlook by 2027

Cost effectiveness as compared to other batteries and ease of recyclability associated with valve regulated lead acid (VRLA) batteries over lithium-ion batteries drive the growth of the global gel battery market. However, availability of alternatives in the market hampers the market growth. On the contrary, rise in need to expand data centers is expected to create lucrative opportunities for the market players in the coming years.

On the basis of type, 12V type of gel battery has garnered highest gel battery market share, it has 43.8% share in 2019. This is attributed to its adoption in numerous applications such as renewable energy sector, telecommunication, broadband, and others. It is adopted in above mentioned application owing to its characteristics such as excellent retention time, long service life, ease in handling, no addition of distilled water, and others.

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Based on application, the energy storage & distribution segment is expected to grow at a fastest growth rate. It is expected to grow at a CAGR of 4.6%. This is attributed to rise in demand from the energy sector of developing regions. Gel battery for energy storage & distribution application in Asia-Pacific and LAMEA is expected to grow at CAGR of 4.7% and 6.3%, respectively, during 2020 to 2027.

On the basis of region, Asia-Pacific has garnered highest market share. It has garnered 39.9% share in 2019. This is attributed to presence of huge consumer base in the region as well as presence of key manufacturing players in countries such as China. In addition, growth of the telecommunication and energy sector in Asia-Pacific is also one of the factors that boosts the growth of the gel battery market.

The gel battery market analysis covers in-depth information of the major industry participants. The key players operating and profiled in the market include Exide Technologies (Exide), BSB Power Company Limited., Leoch International Technology Limited Inc., Power Sonic Corporation (PS Corporation), Storage Battery Systems, LLC (SBS LLC), Canbat Technologies Inc. (Canbat), C&D Technologies, Inc., (C&D), JYC Battery Manufacturing Co., Ltd., B.B. TECH (Changsha) Co., Ltd. (B.B. TECH), and Vision Group (Vision).

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Key Findings of the Study:

The gel battery market is analyzed from 2019 to 2027

Depending on the type, the12V batterysegment is projected to grow at aCAGR of nearly 4.3%, in terms of revenue, during the forecast period

Region wise, North America is expected to register aCAGR of nearly 3.4%, in terms of revenue, in the coming future

By application, the energy & distribution segment is estimated to exhibit aCAGR of 4.6%, in terms of revenue

Asia-Pacific dominated the gel battery market with a share of over 39.9% in 2019, in terms of revenue

A comprehensive analysis of the factors that drive and restrain the market growth is provided in the report

The qualitative data in this report aims at the market dynamics, gel battery market trends, and developments in the industry

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