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Gel Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Report Format: PDF+Excel | Report ID: SR112023A4836
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Market Overview:
The global gel battery market size reached US$ 2.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.7 Billion by 2028, exhibiting a growth rate (CAGR) of 4% during 2023-2028.
A gel battery is lightweight and durable, has a longer lifespan, and can withstand extreme temperature ranges compared to conventional batteries. It comprises gelled electrolytes that reduce the risk of spillage, evaporation, corrosion, and internal resistance. As it requires low maintenance, it is commonly utilized in cell phones, camcorders, motorcycles, marine equipment, and high-end cars across the globe. Moreover, a gel battery is considered suitable for being used in solar systems, marine trolling, sailboats, uninterrupted power systems (UPS), and emergency lighting on account of its flexible designs and vibration resistance.
Gel Battery Market Trends:
Gel batteries find application as energy storage devices in off-grid solar photovoltaic (PV) systems. This, in confluence with the escalating demand for solar power devices to provide backup during power outages in remote areas, represents one of the key factors driving the market. In addition, governments of numerous countries are promoting the usage of renewable energy sources via tax credits, incentives, and price concessions on several solar panel components. Apart from this, rising concerns about the negative impact of fuel-based vehicles on the environment are positively influencing the use of gel batteries in electric vehicles (EVs), public transportation, and aircraft. Furthermore, the increasing awareness among individuals of rising pollution levels is contributing to the market growth. Besides this, gel batteries are employed in manufacturing electric wheelchairs and ventilators, which are employed in health facilities. The escalating demand for electric wheelchairs on account of the rising prevalence of neurological disorders and the geriatric population, which is more susceptible to orthopaedic conditions, is also bolstering the market growth. In line with this, the expanding utilization of gel batteries in golf carts, floor scrubbers, and computers for backup is impelling the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global gel battery market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, distribution channel and application.
Breakup by Type:
- 2V
- 6V
- 12V
Breakup by Distribution Channel:
- Online
- Offline
Breakup by Application:
- Electric Mobility
- Energy Storage and Distribution
- Telecommunication
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being B.B. Battery, BSB Power Company Limited, C&D Technologies Inc., Canbat Technologies Inc., Exide Technologies, Exponential Power Inc., JYC Battery Manufacturer Co. Ltd., Leoch International Technology Limited Inc., Power-Sonic Corporation and Vision Group.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2022 |
| Historical Period | 2017-2022 |
| Forecast Period | 2023-2028 |
| Units | US$ Billion |
| Segment Coverage | Type, Distribution Channel, Application, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | B.B. Battery, BSB Power Company Limited, C&D Technologies Inc., Canbat Technologies Inc., Exide Technologies, Exponential Power Inc., JYC Battery Manufacturer Co. Ltd., Leoch International Technology Limited Inc., Power-Sonic Corporation and Vision Group. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global gel battery market was valued at US$ 2.1 Billion in 2022.
We expect the global gel battery market to exhibit a CAGR of 4% during 2023-2028.
The rising demand for gel batteries in solar systems, marine trolling, sailboats, uninterrupted power systems (UPS), emergency lightings, etc., owing to their flexible designs and vibration resistance properties, is primarily driving the global gel battery market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for gel batteries.
Based on the type, the global gel battery market has been segregated into 2V, 6V, and 12V. Among these, 12V currently holds the largest market share.
Based on the application, the global gel battery market can be bifurcated into electric mobility, energy storage and distribution, telecommunication, and others. Currently, electric mobility exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global gel battery market include B.B. Battery, BSB Power Company Limited, C&D Technologies Inc., Canbat Technologies Inc., Exide Technologies, Exponential Power Inc., JYC Battery Manufacturer Co. Ltd., Leoch International Technology Limited Inc., Power-Sonic Corporation, and Vision Group.
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