Gel Battery Market? Here's an Answer

The gel battery market size was valued at $1.8 billion in 2019, and is projected to reach $2.6 billion by 2027, growing at a CAGR of 4.2% from 2020 to 2027. A gel battery is a type of lead-acid battery that uses a gel electrolyte instead of a liquid electrolyte. The electrolyte is composed of a silica-based gel that immobilizes the acid and makes the battery spill-proof and maintenance-free.

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Gel batteries are commonly used in applications where reliability and safety are important, such as in uninterruptible power supplies (UPS), solar power systems, and backup power systems. They are also used in some medical equipment and mobility devices, such as wheelchairs.

The gel battery market is driven owing to its adoption in numerous applications such as telecommunication, uninterrupted power supply (UPS), and others. This is attributed to its beneficial specifications such as less maintenance, leakage proof, high compatibility with sensitive electronic equipment, lowest cost-per-month, and others. However, high initial costs, requirement of special chargers as well as regulator are some of the factors expected to hinder the gel battery market growth.

The global gel battery market is segmented into type, application, and region. Depending on type, the market is categorized into 2V, 6V, and 12V. Various applications of gel battery studied in the market include electric mobility, energy storage & distribution, telecommunication, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Gel battery market share is analyzed across all the regions and segmentation.

On the basis of type, 12V type of gel battery has garnered highest 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.

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 indemand 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.

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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).

Other players in the value chain of the gel battery market include Coslight India Telecom Pvt. Ltd., Dynavolt Renewable Energy Technology Co., Ltd., Exide Industries Limited, Microtex Energy Private Limited, The Furukawa Battery CO., LTD., KAYO Battery (Shenzhen) Company Limited, Jayachandran Industries (P) Ltd, AGM Technology, Suntech Batteries, Chilwee Group CO.,LTD, and others.

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