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Global Battery Racks Market Analysis- Industry Specific Opportunities and Trends Affecting the Growth
Global Battery Racks Market report from Global Insight Services is the single authoritative source of intelligence on Battery Racks Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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Market Trends and Drivers
One of the factors driving the growth of the global battery racks market is the growing demand for high-performance and efficient battery storage systems in several industries such as power storage, data centers, and telecommunication. Increasing awareness regarding the benefits of battery racks market is expected to positively impact revenue growth of the market over the forecast period. In addition, developments in the battery energy storage system along with ease of operation & installation of battery racks positively contribute to the growth of the global battery racks market. Further, battery racks safeguard the batteries and permit easy handling of them. Hence, the rising demand for battery racks from emerging economies to store batteries effectively is expected to cater to the growth of the battery racks industry. Besides, the rise in the number of data centers in addition to small and medium-sized companies is increasing the demand for batteries, which further leads to the growth of the global battery racks market. Furthermore, technological advancements in battery storage systems are anticipated to offer lucrative opportunities for the market players.
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Global Battery Racks Market Segmentation
The global battery racks market report is bifurcated on the basis of product type, material, placement, and application, and region.
Global Battery Racks Market By Material
On the basis of material, it is segmented into steel, plastic, plastic coated, and others. The demand for steel battery racks is expected to grow significantly in the forecast period. The growth of the steel segment can be attributed to properties of steel including, better strength, durability along with compact design and sleekness. Hence, there is need for limited extra material for supporting framework to tolerate loads of heavy batteries.
Global Battery Racks Market By Product Type
Based on product type, it is analyzed across standard, seismic, VRLA, and others. The demand for high-performance and efficient VRLA battery racks in several industries such as utility, data centers, and military among others is anticipated to propel the growth of the global battery racks market. Additionally, developments in the battery racks in addition to ease of operation & installation of them are expected to boost global battery racks market growth.
Global Battery Racks Market By Placement
By placement it is categorized into horizontal and vertical. The demand of horizontal battery racks market is expected to grow significantly in the forecast period. The horizontal battery racks can accommodate any type of battery and have horizontal mounting cells.
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Major Players of Global Battery Racks Market
The global battery racks market report includes players such as Vertiv Holdings Co., EnerSys, Amphenol Network Solutions, Eagle Eye Power Solutions, LLC, Schneider Electric, EnviroGuard, Mesa Technical Associates, Inc., Newton Instrument Co., EATON, YHI Power, C&C Power, Inc., Narada Power, STEELMAXenergy, AIB Kunstmann Reserve GmbH and Alliance Metal Solutions.
Prominent players in the industry such as Narada Power, Enviroguard, and Vertiv deals in battery racks with 24V output to the market. For instance, Vertiv Group Corp. NetSure 24V VRLA battery rack specifically for the Data Center and Telecom industries. These battery racks are Seismic Zone 4 compliant, compatible with any DC power system, have pre-cabled trays, and have optional circuit breaker per string.
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