Industrial Batteries Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Industrial Batteries Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A4851
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Market Overview:

The global industrial batteries market size reached US$ 20.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 30.3 Billion by 2028, exhibiting a growth rate (CAGR) of 6% during 2023-2028.

Industrial batteries are electrochemical devices used as a power source for large, rugged equipment. They consist of cathodes, anodes and electrolyte solutions and offer resistance to vibrations and extreme temperatures. Lithium-ion, nickel-based, lithium titanate, lithium magnesium oxide and lead-based batteries are some of the commonly available variants. They are widely used in medical equipment, uninterruptible power source (UPS), safety alarms, tracking systems and automobile accessories. In comparison to the traditionally used consumer batteries, industrial variants have longer operation life and can be utilized in extreme environments and remote locations. As a result, industrial batteries are extensively used in energy, grid storage, utility, and telecommunication systems.

 

 
 

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Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Industrial Batteries Market Trends:

Rapid industrialization and increasing requirement for factory automation across the globe are among the key factors driving the growth of the market. The rising requirement for continuous and reliable sources of energy is leading to the widespread adoption of industrial batteries to power heavy-duty equipment. Additionally, the increasing utilization of lithium-ion (Li-ion) batteries across industries is favouring the market growth. Li-ion batteries are widely used in surveillance and alarm systems, industrial electronics, and solar power backup storage systems. Moreover, various product innovations, such as the launch of green industrial batteries that assist in reducing carbon footprint and are environmentally friendly, are providing a thrust to the market growth. In line with this, the increasing product utilization in health monitoring systems, critical care equipment and power cleaning tools in hospitals and healthcare centres is positively impacting the market growth. Other factors, including the rising demand for electric vehicles (EVs), along with the widespread product adoption in the manufacturing industry, are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global industrial batteries market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on drive type, technology and application.

Breakup by Drive Type:

 

 
 

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  • Electric
  • Hydraulic
  • Others
     

Breakup by Technology:

  • Lithium-Ion Battery
  • Lead-Acid Battery
  • Others
     

Breakup by Application:

  • Forklift
  • Telecom
  • UPS
  • Others
     

Breakup by Region:

 

 
 

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  • 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 Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH, Amara Raja Group, American Battery Solutions, Bulldog Battery Corporation, C&D Technologies Inc., EnerSys, Exide Industries Limited, GS Yuasa Corporation, Industrial Battery & Services Inc., Johnson Controls International, Panasonic Corporation and Saft (TotalEnergies SE).

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Drive Type, Technology, 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 Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH, Amara Raja Group, American Battery Solutions, Bulldog Battery Corporation, C&D Technologies Inc., EnerSys, Exide Industries Limited, GS Yuasa Corporation, Industrial Battery & Services Inc., Johnson Controls International, Panasonic Corporation and Saft (TotalEnergies SE)
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)

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Industrial Batteries Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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