The report "Industrial Batteries Market by type (Lead-Acid, Nickel-Based, Lithium-Based), end-user industry (Telecom & Data Communication, Uninterruptible Power Supply (UPS)/Backup, Industrial Equipment, Grid-Level Energy Storage), and region - Global Forecast to 2021", The industrial batteries market is projected to reach USD 10.84 Billion by 2021, at a CAGR of 6.5% from 2016 to 2021. The increasing demand for power back-up, growth in the renewable energy sector, increased recycling efficiency of lead- and lithium-based industrial batteries are some key factors expected to drive the growth of industrial batteries market in the near future.
Browse 90 market data Tables and 52 Figures spread through 155 Pages and in-depth TOC on "Industrial Batteries Market by type (Lead-Acid, Nickel-Based, Lithium-Based), end-user industry (Telecom & Data Communication, Uninterruptible Power Supply (UPS)/Backup, Industrial Equipment, Grid-Level Energy Storage), and region - Global Forecast to 2021"
Early buyers will receive 10% customization on reports.
Telecom & Data Communication is expected to be the fastest-growing end-user industry segment of the industrial batteries market
Telecom & data communication was the largest segment of the industrial batteries market in 2015, and is projected to be the fastest-growing segment from 2016 to 2021. The growth of the market can be mainly attributed to the growth in the telecom industry and increasing demand for high efficiency power backup.
Lead-acid industrial batteries was the largest segment of the industrial batteries market
Based on type, lead-acid batteries was the largest segment of the market in 2015. Lithium-based batteries is expected to be the fastest-growing segment, since these batteries are rapidly being adopted owing to their increased life, recyclability, and low emission. These batteries are suitable for use in industrial applications wherein volume, weight, temperature sensitivity, and low maintenance are crucial than the initial cost of the battery.
Asia-Pacific was the largest market for industrial batteries market in 2015, globally
The industrial batteries market, based on region, has been segmented into Asia-Pacific, Europe, North America, Middle East & Africa, and Central & South America. Asia-Pacific and North America are estimated to be the key markets for industrial batteries, owing to the increasing industrial activities and demand for high capacity power backup in these regions. Major manufacturers of industrial batteries include GS Yuasa Corporation (Japan), Exide Technologies Inc. (U.S.), and EnerSys Inc. (U.S.).
Tier I suppliers, such as Johnson Controls (U.S.), GS Yuasa (Japan), Exide Technologies Inc. (U.S.), EnerSys Inc. (U.S.), and SAFT Group S.A. (France), among others, have developed industrial batteries to meet varying requirements of end-user industry such as valve-regulated lead-acid battery, Absorbent Glass Mat (AGM), and so on. These players have expanded their geographical presence through partnerships, joint ventures, and new establishments in high-growth regions. Their extensive product portfolios, coupled with wide geographical presence, have helped these players to achieve growth in the industrial batteries market.
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Email: [email protected]