Lithium-ion vs Lead-acid Batteries: Impact on Industrial Battery Market Growth - Major Companies are Statron Ltd., Panasonic Corporation, EXIDE INDUSTRIES LTD.

The Global Industrial Batteries Market size reached USD 1.34 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 2.35 billion by 2030. The market is growing at a CAGR of 6.6% during the forecast period 2024-2031.

Industrial Batteries Market is thoroughly examined in the DataM Intelligence study, offering a comprehensive analysis supported by robust statistics, historical data, and actionable insights. The report evaluates key industry players, analyzing their product portfolios, pricing strategies, financial performance, and expansion efforts. It provides a clear understanding of market dynamics, competitive positioning, and anticipated trends shaping the future of the industry.

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Market Dynamics and Growth Factors:

Rising Demand for Renewable Energy Storage Driving Industrial Batteries Market

A key factor propelling the global industrial batteries market is the growing need for renewable energy storage solutions. The U.S. Energy Information Administration (EIA) projects a 2.6% increase in global renewable energy consumption in 2021, which is expected to drive a corresponding rise in battery usage for energy storage. This trend is further reinforced by government support worldwide through favorable policies and initiatives.

For example, in December 2020, the European Union introduced its "Green Deal" plan, targeting carbon neutrality by 2050, with several measures to promote the adoption of battery storage systems. Additionally, notable product launches are fueling market momentum.

In February 2021, Tesla unveiled its "Megapack" battery storage system, engineered for large-scale energy storage and capable of delivering up to 3 gigawatt-hours (GWh) of capacity. This launch underscores the increasing emphasis on industrial-scale battery solutions to facilitate the shift toward renewable energy.

List of the Key Players in the Industrial Batteries Market:

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.

Industrial Batteries Industry Development:

In January 2021, NorthStar Battery launched a new range of high-performance AGM batteries specifically designed for critical backup power applications. These batteries are engineered to provide reliable power backup for essential facilities such as data centers, hospitals, and other critical infrastructure.

In March 2021, Tesla introduced its Megapack, a new industrial-scale battery product designed for utility-scale energy storage applications. The Megapack is aimed at supporting large-scale renewable energy projects, such as wind and solar farms, by enabling efficient energy storage and distribution.

Research Methodology

Our research methodology combines both qualitative and quantitative approaches to provide you with a thorough market analysis. We begin by gathering data from trusted industry reports and databases (secondary research), followed by primary research through surveys and interviews with key experts. We then apply advanced statistical tools to analyze the data, uncover trends, and assess market dynamics. Additionally, we use market segmentation and Porter's Five Forces analysis to evaluate competition. This approach ensures that the insights we provide are reliable, actionable, and tailored to support your decision-making process.

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Segment Covered in the Industrial Batteries Market:

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.

This Report Covers:

✔ Go-to-market Strategy.

✔ Neutral perspective on the market performance.

✔Development trends, competitive landscape analysis, supply side analysis, demand side analysis, year-on-year growth, competitive benchmarking, vendor identification, Market Access, and other significant analysis, as well as development status.

✔Customized regional/country reports as per request and country level analysis.

✔ Potential & niche segments and regions exhibiting promising growth covered.

✔ Analysis of Market Size (historical and forecast), Total Addressable Market (TAM), Serviceable Available Market (SAM), Serviceable Obtainable Market (SOM), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Innovators, Start-ups, Laggard, and Pioneer).

Regional Analysis for Industrial Batteries Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

Frequently asked questions:

➠ What is the global sales value, production value, consumption value, import and export of Industrial Batteries market?

➠ Who are the global key manufacturers of the Industrial Batteries Industry? How is their operating situation (capacity, production, sales, price, cost, gross, and revenue)?

➠ What are the Industrial Batteries market opportunities and threats faced by the vendors in the global Industrial Batteries Industry?

➠ Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?

➠ What focused approach and constraints are holding the Industrial Batteries market?

➠ What are the different sales, marketing, and distribution channels in the global industry?

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