Press release
Comprehensive Industrial Batteries Market Forecast 2025-2034: Growth Trends and Strategic Shifts
Industrial Batteries
Industrial Batteries Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market for industrial batteries has witnessed significant expansion in the past years. The market value is projected to rise from $15.37 billion in 2024 to $16.73 billion in 2025, indicating a compound annual growth rate (CAGR) of 8.9%. Factors contributing to this growth during the historic period include industrialization and manufacturing expansion, advancements in telecommunications infrastructure, incorporation of renewable energy, and stringent environmental regulations.
Industrial Batteries Market Size Forecast: What's the Projected Valuation by 2029?
In the coming years, the market for industrial batteries is anticipated to experience robust growth, expanding to a size of $23.57 billion by 2029, with a compound annual growth rate (CAGR) of 8.9%. Factors contributing to this growth during the projection period include an increased demand for energy storage, the spread of e-mobility, the implementation of IoT and edge computing, the electrification of various industries, and the progression of space exploration and aerospace. Key trends in this period include the supremacy of lithium-ion, advancements in energy density, the development of quick charging technology, the use of eco-friendly chemistry, and the incorporation of hybrid energy storage.
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What Are the Drivers Transforming the Industrial Batteries Market?
The burgeoning growth observed in the telecommunication sector is anticipated to significantly drive the industrial battery market's progression. Telecommunications, defined as the electronic conveyance of information across considerable distances, employ industrial batteries as power backups for servers related to network equipment, operating Direct Current (DC) implements and furnishing power to remotely located base stations that lack connections to the national power grid. As an illustration, Invest India, an agency based in India that facilitates and promotes national investments, reported that as of April 2022, India's telecom industry has a user base of 1.17 billion on mobile. Consequently, the fast-paced development within the telecommunications industry is impacting an accelerated growth in the industrial battery market.
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What Long-Term Trends Will Define the Future of the Industrial Batteries Market?
A crucial trend gaining traction in the industrial batteries market is product innovation. To gain a competitive edge, key companies in this sector are focusing on the development of inventive power management systems for batteries. For example, in April 2022, China's battery manufacturing company, Narada Power, unveiled a 512-volt high-voltage lithium battery backup power system. Tailored for industrial use, the system is particularly beneficial for Internet Data Centers (IDCs) and is powered by a lithium-ion (Li-ion) battery. This product boasts of numerous advantages such as robust power discharge, high energy density, excellent safety, and reliability. Additionally, the product can be used for high-voltage direct current (HDVC) systems and uninterrupted power supply (UPS) solutions. When compared to a similar system that uses traditional lead batteries, the high-voltage lithium batteries being used are 60% lighter and reduce the carbon footprint by 50%.
Which Segments in the Industrial Batteries Market Offer the Most Profit Potential?
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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Which Firms Dominate the Industrial Batteries Market by Market Share and Revenue in 2025?
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
Which Regions Offer the Highest Growth Potential in the Industrial Batteries Market?
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.
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