Press release
Telecommunications Sector Expansion Fuels Growth In The Industrial Battery Market: Key Factor Driving The Growth In The Industrial Batteries Market
Industrial Batteries Market Size
What Is the Expected Industrial Batteries Market Size During the Forecast Period?
Recent years have seen a robust expansion in the market size for industrial batteries. The market is projected to escalate from $15.37 billion in 2024 to $16.73 billion in 2025, with a compound annual growth rate (CAGR) of 8.9%. The surge in growth during the past period has been driven by factors such as industrial and manufacturing development, advancements in telecommunications infrastructure, the integration of renewable energy, and environmental regulations.
The market size for industrial batteries is anticipated to experience robust growth in the forthcoming years, ballooning to a hefty $23.57 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 8.9%. Factors contributing to this growth in the predicted period comprise the escalating demand for energy storage, the widening of e-mobility, Internet of Things (IoT) and edge computing, the electrification of various sectors, and advancements in outer space exploration and aerospace. Key trends emerging during this projection period comprise the supremacy of lithium-ion, enhancements in energy density, the advent of rapid charging technologies, the introduction of environmentally-friendly chemistries, and the amalgamation of hybrid energy storage.
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What Are the High-Growth Segments in the Industrial Batteries Market?
The industrial batteries market covered in this report is segmented -
1) By Type: Lithium-Ion Battery, Nickel-Based Battery, Lead-Based Battery
2) By Application: Telecom and Data Communication, Uninterruptible Power Supply (UPS), Energy, Equipment, Grid Storage, Other Applications
3) By End User: Domestic, Industrial
Subsegments:
1) By Lithium-Ion Battery: Lithium Cobalt Oxide (LCO) Batteries, Lithium Iron Phosphate (LiFePO4) Batteries, Lithium Nickel Manganese Cobalt (NMC) Batteries
2) By Nickel-Based Battery: Nickel Cadmium (NiCd) Batteries, Nickel Metal Hydride (NiMH) Batteries
3) By Lead-Based Battery: Lead-Acid Batteries (Flooded), Absorbent Glass Mat (AGM) Batteries, Gel Lead-Acid Batteries
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What Key Drivers Are Expected to Influence Future Industrial Batteries Market Growth?
The industrial battery market is projected to benefit substantially from the swift development of the telecommunication sector. Telecommunications, or the electronic transfer of information over long distances, relies heavily on industrial batteries. These batteries are used for several functions like serving as a power backup for network-linked servers, running DC (direct current) equipment and powering isolated base stations inaccessible to the national grid. As per Invest India, a National Investment Promotion and Facilitation Agency based in India, the telecom industry in this country has built a mobile base of 1.17 billion subscribers by April 2022. This quick progression in the telecommunication field proves to be a critical factor in driving the expansion of the industrial battery market.
Which Companies Hold the Largest Share Across Different Industrial Batteries Market Segments?
Major companies operating in the industrial batteries market include Exide Industries Ltd., C&D Technologies Inc., Enersys Inc., GS Yuasa Corporation, Northstar Battery Company LLC., Amara Raja Batteries Ltd., American Battery Solutions, Bulldog Battery Corporation, Crown Batteries, HOPPECKE Industrial Batteries Ltd., Zhejiang Narada Power Source Co. Ltd., SK Innovation Co. Ltd., The Sunlight Group, TAB batteries, East Penn Manufacturing, EnerSys, Johnson Controls, C&D Technologies, Saft Group, FIAMM Energy, Hoppecke, HBL Power Systems, GS Yuasa, NorthStar Battery, Leoch International, Hitachi Chemical, Narada Power, Storage Battery Systems (SBS), Advanced Energy
What Trends Are Driving Growth in The Industrial Batteries Market?
The trend of product innovation is becoming increasingly prominent in the industrial batteries market. Mainstream firms in the sector are keen to create novel solutions for battery power management systems to attain a competitive edge. For example, Narada Power, a Chinese battery production business, unveiled a 512-volt high-voltage lithium battery backup power system in April 2022. This system is intended for industrial applications, particularly for Internet Data Centers (IDCs), it uses a lithium-ion (Li-ion) battery as a primary element. The product stands out due to its high power discharge capacity, high energy density, high safety and reliability, as well as its potential use for high-voltage direct current (HDVC) and uninterrupted power supply (UPS). The high-voltage lithium batteries for this system are 60% lighter and have a carbon footprint that is 50% less than a similar system used for conventional lead batteries.
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What Are the Emerging Geographies for The Industrial Batteries Market Growth?
North America was the largest region in the industrial batteries market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial batteries market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Industrial Batteries Market?
2. What is the CAGR expected in the Industrial Batteries Market?
3. What Are the Key Innovations Transforming the Industrial Batteries Industry?
4. Which Region Is Leading the Industrial Batteries Market?
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