Industrial Battery Market is expected to reach US$ 21,893.5 Mn by 2027

According to the new research report published by The Insight Partners, titled "Industrial Battery Market - Global Analysis and Forecast to 2027", the global industrial battery market is expected to reach US$ 21,893.5 Mn by 2027, registering a CAGR of 7.3% during the forecast period 2020-2027.

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Companies Profiles
• C&D Technologies, Inc.
• East Penn Manufacturing Company
• EnerSys
• Exide Industries Limited
• General Electric Company
• GS Yuasa International Ltd.
• LG Chem
• Panasonic Corporation
• Robert Bosch GmbH
• Saft Groupe SA

Industrial batteries are specially designed batteries that can operate under harsh industrial temperatures such as extreme temperatures, more vibrations, and heavy use. Industrial batteries perform batter and are designed to be more powerful. In the present market scenario, the companies are rigorously working towards the development of highly efficient batteries that caters to the varying industrial battery needs. The demand for energy storage systems in the market is also growing. The energy storage systems store energy during the off-peak time and use energy during peak times. Some of the major companies offering energy storage systems include GE Company, Samsung SDI, Exide, LG Chem, and Saft Batteries, among others. The demand for UPS is also growing across the industrial sector owing to the growing focus towards the safe down of the process during a power failure.

The demand for Lithium-based batteries is expected to grow significantly during the forecast period. The adoption of Lithium batteries is expected to grow across various verticals owing to the advantages offered by it, such as low emissions, increased lifecycle, and recyclability. The companies operating in the market are focusing on the development of new products to gain a strong customer base and achieve a significant market share. For instance, in 2020, GS Yuasa Corporation launched SNS-TN series of valve-regulated stationary lead-acid batteries. These batteries are ideal for applications with high discharge frequency as well as for applications requiring the float charge. Also, in 2019 East Penn Manufacturing launched a complete line of both Lead and Lithium material handling battery products for Class I, II, and III operations.

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Market Insights
Grid-connected solutions for uninterruptable power supply drives the demand for industrial battery

The most prominent and essential types of renewable energy sources are solar and wind that are stored in the grid. However, the covering of the sun by clouds or fluctuations in the wind current might lead to variations in the process of energy generation. Such changes create a need for flexible grid systems for energy storage. Industrial battery energy storage systems help the grid operators to save electricity when the quantity of power exceeds the demand for electricity. Thus, the increased adoption of these systems helps in improving the reliability and flexibility of the electricity supply system with respect to generation, transmission, and distribution activities. During transmission and distribution, battery energy storage systems handle various aspects such as asset deferral, harmonic suppression, voltage support, frequency regulation, and power quality. Electric energy time-shift, renewable energy time-shift, baseload levelling, and peak shaving, and renewables capacity firming are the other benefits of using battery energy storage systems for grid-connected solutions, which drive the adoption of these systems, thus fuelling the growth of the industrial battery market. The market players are coming up with new grid solutions for maintaining a competitive edge in the industrial battery market. For instance, Siemens offers SIESTORAGE, an intelligent grid solution. SIESTORAGE is capable of overcoming the challenges phased during the three main aspects of power supply, i.e., optimizing grid connections, providing elastic energy for modern grids, and supporting large energy consumers. Further, in July 2015, EDP Distribuicao offered Storage InovGrid tender to Siemens's SIESTORAGE in Évora (Portugal). The SIESTORAGE system provides services such as voltage regulation, energy back-up, and peak shaving in EDP's grid stability, and replicates the benefits of intelligent grids to the grid operators.

Industrial Battery Market Segmentation:
Industrial Battery Market - By Type
Lead-acid Batteries
Lithium-based Batteries
Nickel-based Batteries
Others

Industrial Battery Market - By Application
Telecom & Data Communication
Industrial Equipment
UPS/Backup
Grid-level Energy Storage
Mining
Marine
Others

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About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

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