Industrial Batteries Market Growth Trends: Regional Analysis, Segmentation, Application Restraints, and Key Players Forecast to 2024-2031 | Statron Ltd., Panasonic Corporation, EXIDE INDUSTRIES LTD.

Industrial Batteries Market Research Report By DataM Intelligence: A comprehensive analysis of current and emerging trends provides clarity on the dynamics of the Industrial Batteries market. The report employs Porter's Five Forces model to assess key factors such as the influence of suppliers and customers, risks posed by different entities, competitive intensity, and the potential of emerging entrepreneurs, offering valuable insights. Additionally, the report presents research data from various companies, including their benefits, gross margins, and strategic decisions in the global market, all conveyed through tables, charts, and infographics.

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What is the projected growth rate (CAGR) of the Global Industrial Batteries market from 2024 to 2031, and what is the market value expected to change by 2031?

The Global Industrial Batteries Market size reached USD 1.34 billion in 2023 and is projected to witness lucrative growth by reaching up to USD 2.35 billion by 2031. The market is growing at a CAGR of 6.6% during the forecast period 2024-2031.

What is Industrial Batteries Market?

The industrial batteries market encompasses the production and supply of batteries designed for various industrial applications, including backup power systems, material handling, telecommunications, and renewable energy storage. These batteries are essential for ensuring operational continuity, efficiency, and reliability across sectors such as manufacturing, transportation, and utilities. The market is driven by the increasing demand for energy storage solutions, the transition to renewable energy, and the growth of electric vehicles (EVs).

Growth Driver

The High Costs of Battery Manufacture and Disposal

One of the significant challenges facing the global industrial batteries market is the high cost associated with both the manufacturing and disposal of batteries. The production of batteries involves substantial investment in raw materials and advanced technologies, leading to elevated manufacturing costs. Additionally, the disposal of batteries poses environmental concerns; according to the US Environmental Protection Agency (EPA), batteries contribute to nearly 50% of the total lead and 70% of the mercury present in landfills.

Key Players:

Profiles of some of the major players in the global Industrial Batteries market, which include Statron Ltd., Panasonic Corporation, EXIDE INDUSTRIES LTD., GS Yuasa International Ltd., Ochre Media Pvt Ltd., East Penn Manufacturing Company, EnerSys, United Industrial Service, MEI and Raymond Storage Concepts Inc.

Industry Development:

In January 2021, NorthStar Battery introduced a new line of high-performance Absorbent Glass Mat (AGM) batteries specifically engineered for critical backup power applications. These batteries are optimized to deliver reliable power for essential facilities, including data centers and hospitals, ensuring uninterrupted service during power outages.

In March 2021, Tesla launched the Megapack, an industrial battery product designed for utility-scale energy storage. This innovative battery system targets large-scale applications, such as solar and wind energy farms, enabling efficient storage and management of renewable energy. The Megapack aims to enhance the stability and reliability of power supply from renewable sources, contributing to a more sustainable energy infrastructure.

The purpose of the report is to offer a comprehensive analysis of the market, along with insightful conclusions, statistical data, historical information, market data that has been confirmed by the industry, and predictions based on a sound methodology. By identifying and examining market segments and forecasting global market size, the study also contributes to understanding the dynamics and structure of the global Industrial Batteries market.

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Market Segments:

The report covers the segmentation of the market into different segments based on various classifications such as applications, end users, product types, and others. The segmentation is divided into two sections, one for development and the other for different roles, needs, and behaviours.

By Type: Vented / Flooded Lead Acid Batteries, Valve-Regulated Lead Acid.

By Product: Stationary, M0bile.

By Chemical: Lithium-ion Battery, Lead-acid Battery, Nickel Cadmium (Ni-cd) Battery, Others.

By Application: Forklift, Telecom, UPS, Others.

Regional Break out:

☞ North America - US, Canada, Mexico

☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe

☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific

☞ South America- Brazil, Argentina, Colombia, Rest of South America

☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel

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Key Features

➧ Gain deep insights into market dynamics, trends, and opportunities to stay ahead in a competitive landscape.

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➧ Identify and target specific market segments with detailed intelligence on customer preferences and behaviours.

➧ Stay informed on regulatory changes and legal requirements impacting your industry to ensure compliance and mitigate risks.

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