PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1454033
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1454033
Industrial Batteries Market Forecasts to 2030 - Global Analysis By Type (Nickel-Based, Lead-Acid Based, Lithium-Based and Other Types), Application, End User and By Geography
According to Stratistics MRC, the Global Industrial Batteries Market is accounted for $20.1 billion in 2023 and is expected to reach $42.3 billion by 2030 growing at a CAGR of 11.2% during the forecast period. Industrial batteries are large-scale energy storage devices designed to provide power for industrial applications. Unlike consumer batteries, which are typically used in smaller devices like smartphones or laptops, industrial batteries are engineered to supply electricity to larger equipment and machinery used in manufacturing, transportation, telecommunications, and other sectors. These batteries often utilize advanced technologies such as lithium-ion or lead-acid chemistry and are crucial for maintaining uninterrupted power supply, supporting backup power systems, and facilitating energy management in industrial settings.
According to Colliers International, the number of big-box warehouse distribution centers in the United States has grown year-on-year since 2013. In 2022, the number of buildings grew by about 396, reaching 5,946. Big-box facilities refer to extensive industrial facilities used for distribution.
Market Dynamics:
Driver:
Expanding renewable energy integration
The integration of renewable energy sources into the industrial batteries market presents a transformative opportunity. By leveraging renewable energy such as solar and wind power to charge industrial batteries, businesses can achieve greater sustainability while reducing reliance on fossil fuels. This integration facilitates more reliable and eco-friendly energy storage solutions, fostering a transition towards greener industrial practices. Hence, these are the factors propelling the growth of the market.
Restraint:
Lack of standardization
Varying specifications, sizes, and chemistries make it difficult for businesses to interchange batteries across different equipment and systems. This lack of uniformity not only complicates procurement processes but also impedes efficiency and scalability. Without standardized guidelines, companies face increased costs in inventory management, maintenance, and training. Moreover, it hampers innovation and adoption of new technologies, limiting the potential for advancements in industrial battery solutions.
Opportunity:
Advancements in battery technology
Innovations include the development of lithium-ion batteries with higher capacity and longer cycle life, enabling extended operational periods and reduced maintenance requirements. Additionally, there's a growing emphasis on sustainable materials and manufacturing processes to minimize environmental impact. Advancements in battery management systems and smart monitoring technologies further optimize performance and ensure efficient utilization in industrial applications. These are the aspects boosting the growth of the market.
Threat:
High initial cost
In the market, high initial costs pose a significant barrier to entry for businesses. These batteries, essential for powering large-scale machinery and equipment, often require substantial upfront investment. The expenses encompass not only the purchase of the batteries themselves but also installation, infrastructure adjustments, and maintenance. Consequently, companies may face challenges in adopting these technologies despite their long-term benefits, necessitating careful financial planning and strategic decision-making.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the Industrial Batteries market, causing disruptions in supply chains, reduced manufacturing activities, and decreased demand across various sectors. Lockdown measures and economic uncertainties led to delays in industrial projects and reduced investments in infrastructure, affecting the demand for industrial batteries. However, the shift towards remote work and increased reliance on digital technologies spurred demand for backup power solutions, partially offsetting the decline.
The lithium-based segment is expected to be the largest during the forecast period
The lithium-based segment is expected to be the largest during the forecast period. Lithium-ion batteries dominate this landscape due to their high energy density, longer lifespan, and lighter weight compared to traditional alternatives. With increasing emphasis on renewable energy integration and electric vehicle adoption, the market for lithium-based industrial batteries is poised for sustained expansion, with innovations in materials and manufacturing techniques driving efficiency improvements and cost reductions.
The telecom segment is expected to have the highest CAGR during the forecast period
The telecom segment is expected to have the highest CAGR during the forecast period. The integration of telecommunications technology into industrial batteries is revolutionizing the market by enabling advanced monitoring, management, and remote diagnostics. These batteries equipped with telecom capabilities offer real-time data transmission, enhancing efficiency, reliability, and safety in various industrial applications.
Region with largest share:
North America is projected to hold the largest market share during the forecast period. The market in region has been growing steadily due to the increasing need for uninterrupted power supply across various industries such as telecommunications, data centers, healthcare, manufacturing, and utilities. The integration of renewable energy sources like solar and wind into the power grid has led to an increased need for energy storage solutions to balance supply and demand.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period. Several multinational and regional companies are actively involved in the industrial batteries market in the market. These companies are continuously innovating and investing in research and development to offer advanced battery solutions tailored to the region's specific requirements. Many countries in the region have implemented policies and incentives to promote the adoption of energy storage solutions, including industrial batteries.
Key players in the market
Some of the key players in Industrial Batteries market include Rolls Battery, Robert Bosch GmbH, Saft Group, Hoppecke, Vision Group, Narada Power, Crown Batteries, LG Chem, Samsung SDI Co., Ltd., Northstar Battery Company LLC, Toshiba International Corporation, Johnson Controls Inc., Exide Industries Ltd., C&D Technologies, Inc., Saft Groupe S.A., Enersys Inc. and GS Yuasa Corporation.
Key Developments:
In May 2022, Exide Industries, along with its joint venture partner Leclanche SA initiated mass production at the lithium-ion battery plant in India. The plant is equipped with six automated assembly lines, which produce batteries for automobiles and energy storage applications.
In April 2022, Narada Power introduced a new product for the IDC scenario; the system includes a 512V lithium iron phosphate cell, a three-level BMS, and other core techniques.
Types Covered:
- Nickel-Based
- Lead-Acid Based
- Lithium-Based
- Other Types
Applications Covered:
- Energy Storage
- Backup Power
- Telecom
- Forklift
- Other Applications
End Users Covered:
- Power Sector
- Manufacturing
- Utilities
- Transportation
- Other End Users
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 End User Analysis
- 3.8 Emerging Markets
- 3.9 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Industrial Batteries Market, By Type
- 5.1 Introduction
- 5.2 Nickel-Based
- 5.3 Lead-Acid Based
- 5.4 Lithium-Based
- 5.5 Other Types
6 Global Industrial Batteries Market, By Application
- 6.1 Introduction
- 6.2 Energy Storage
- 6.3 Backup Power
- 6.4 Telecom
- 6.5 Forklift
- 6.6 Other Applications
7 Global Industrial Batteries Market, By End User
- 7.1 Introduction
- 7.2 Power Sector
- 7.3 Manufacturing
- 7.4 Utilities
- 7.5 Transportation
- 7.6 Other End Users
8 Global Industrial Batteries Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 Rolls Battery
- 10.2 Robert Bosch GmbH
- 10.3 Saft Group
- 10.4 Hoppecke
- 10.5 Vision Group
- 10.6 Narada Power
- 10.7 Crown Batteries
- 10.8 LG Chem
- 10.9 Samsung SDI Co., Ltd.
- 10.10 Northstar Battery Company LLC
- 10.11 Toshiba International Corporation
- 10.12 Johnson Controls Inc.
- 10.13 Exide Industries Ltd.
- 10.14 C&D Technologies, Inc.
- 10.15 Saft Groupe S.A.
- 10.16 Enersys Inc.
- 10.17 GS Yuasa Corporation
List of Tables
- Table 1 Global Industrial Batteries Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global Industrial Batteries Market Outlook, By Type (2021-2030) ($MN)
- Table 3 Global Industrial Batteries Market Outlook, By Nickel-Based (2021-2030) ($MN)
- Table 4 Global Industrial Batteries Market Outlook, By Lead-Acid Based (2021-2030) ($MN)
- Table 5 Global Industrial Batteries Market Outlook, By Lithium-Based (2021-2030) ($MN)
- Table 6 Global Industrial Batteries Market Outlook, By Other Types (2021-2030) ($MN)
- Table 7 Global Industrial Batteries Market Outlook, By Application (2021-2030) ($MN)
- Table 8 Global Industrial Batteries Market Outlook, By Energy Storage (2021-2030) ($MN)
- Table 9 Global Industrial Batteries Market Outlook, By Backup Power (2021-2030) ($MN)
- Table 10 Global Industrial Batteries Market Outlook, By Telecom (2021-2030) ($MN)
- Table 11 Global Industrial Batteries Market Outlook, By Forklift (2021-2030) ($MN)
- Table 12 Global Industrial Batteries Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 13 Global Industrial Batteries Market Outlook, By End User (2021-2030) ($MN)
- Table 14 Global Industrial Batteries Market Outlook, By Power Sector (2021-2030) ($MN)
- Table 15 Global Industrial Batteries Market Outlook, By Manufacturing (2021-2030) ($MN)
- Table 16 Global Industrial Batteries Market Outlook, By Utilities (2021-2030) ($MN)
- Table 17 Global Industrial Batteries Market Outlook, By Transportation (2021-2030) ($MN)
- Table 18 Global Industrial Batteries Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 19 North America Industrial Batteries Market Outlook, By Country (2021-2030) ($MN)
- Table 20 North America Industrial Batteries Market Outlook, By Type (2021-2030) ($MN)
- Table 21 North America Industrial Batteries Market Outlook, By Nickel-Based (2021-2030) ($MN)
- Table 22 North America Industrial Batteries Market Outlook, By Lead-Acid Based (2021-2030) ($MN)
- Table 23 North America Industrial Batteries Market Outlook, By Lithium-Based (2021-2030) ($MN)
- Table 24 North America Industrial Batteries Market Outlook, By Other Types (2021-2030) ($MN)
- Table 25 North America Industrial Batteries Market Outlook, By Application (2021-2030) ($MN)
- Table 26 North America Industrial Batteries Market Outlook, By Energy Storage (2021-2030) ($MN)
- Table 27 North America Industrial Batteries Market Outlook, By Backup Power (2021-2030) ($MN)
- Table 28 North America Industrial Batteries Market Outlook, By Telecom (2021-2030) ($MN)
- Table 29 North America Industrial Batteries Market Outlook, By Forklift (2021-2030) ($MN)
- Table 30 North America Industrial Batteries Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 31 North America Industrial Batteries Market Outlook, By End User (2021-2030) ($MN)
- Table 32 North America Industrial Batteries Market Outlook, By Power Sector (2021-2030) ($MN)
- Table 33 North America Industrial Batteries Market Outlook, By Manufacturing (2021-2030) ($MN)
- Table 34 North America Industrial Batteries Market Outlook, By Utilities (2021-2030) ($MN)
- Table 35 North America Industrial Batteries Market Outlook, By Transportation (2021-2030) ($MN)
- Table 36 North America Industrial Batteries Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 37 Europe Industrial Batteries Market Outlook, By Country (2021-2030) ($MN)
- Table 38 Europe Industrial Batteries Market Outlook, By Type (2021-2030) ($MN)
- Table 39 Europe Industrial Batteries Market Outlook, By Nickel-Based (2021-2030) ($MN)
- Table 40 Europe Industrial Batteries Market Outlook, By Lead-Acid Based (2021-2030) ($MN)
- Table 41 Europe Industrial Batteries Market Outlook, By Lithium-Based (2021-2030) ($MN)
- Table 42 Europe Industrial Batteries Market Outlook, By Other Types (2021-2030) ($MN)
- Table 43 Europe Industrial Batteries Market Outlook, By Application (2021-2030) ($MN)
- Table 44 Europe Industrial Batteries Market Outlook, By Energy Storage (2021-2030) ($MN)
- Table 45 Europe Industrial Batteries Market Outlook, By Backup Power (2021-2030) ($MN)
- Table 46 Europe Industrial Batteries Market Outlook, By Telecom (2021-2030) ($MN)
- Table 47 Europe Industrial Batteries Market Outlook, By Forklift (2021-2030) ($MN)
- Table 48 Europe Industrial Batteries Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 49 Europe Industrial Batteries Market Outlook, By End User (2021-2030) ($MN)
- Table 50 Europe Industrial Batteries Market Outlook, By Power Sector (2021-2030) ($MN)
- Table 51 Europe Industrial Batteries Market Outlook, By Manufacturing (2021-2030) ($MN)
- Table 52 Europe Industrial Batteries Market Outlook, By Utilities (2021-2030) ($MN)
- Table 53 Europe Industrial Batteries Market Outlook, By Transportation (2021-2030) ($MN)
- Table 54 Europe Industrial Batteries Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 55 Asia Pacific Industrial Batteries Market Outlook, By Country (2021-2030) ($MN)
- Table 56 Asia Pacific Industrial Batteries Market Outlook, By Type (2021-2030) ($MN)
- Table 57 Asia Pacific Industrial Batteries Market Outlook, By Nickel-Based (2021-2030) ($MN)
- Table 58 Asia Pacific Industrial Batteries Market Outlook, By Lead-Acid Based (2021-2030) ($MN)
- Table 59 Asia Pacific Industrial Batteries Market Outlook, By Lithium-Based (2021-2030) ($MN)
- Table 60 Asia Pacific Industrial Batteries Market Outlook, By Other Types (2021-2030) ($MN)
- Table 61 Asia Pacific Industrial Batteries Market Outlook, By Application (2021-2030) ($MN)
- Table 62 Asia Pacific Industrial Batteries Market Outlook, By Energy Storage (2021-2030) ($MN)
- Table 63 Asia Pacific Industrial Batteries Market Outlook, By Backup Power (2021-2030) ($MN)
- Table 64 Asia Pacific Industrial Batteries Market Outlook, By Telecom (2021-2030) ($MN)
- Table 65 Asia Pacific Industrial Batteries Market Outlook, By Forklift (2021-2030) ($MN)
- Table 66 Asia Pacific Industrial Batteries Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 67 Asia Pacific Industrial Batteries Market Outlook, By End User (2021-2030) ($MN)
- Table 68 Asia Pacific Industrial Batteries Market Outlook, By Power Sector (2021-2030) ($MN)
- Table 69 Asia Pacific Industrial Batteries Market Outlook, By Manufacturing (2021-2030) ($MN)
- Table 70 Asia Pacific Industrial Batteries Market Outlook, By Utilities (2021-2030) ($MN)
- Table 71 Asia Pacific Industrial Batteries Market Outlook, By Transportation (2021-2030) ($MN)
- Table 72 Asia Pacific Industrial Batteries Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 73 South America Industrial Batteries Market Outlook, By Country (2021-2030) ($MN)
- Table 74 South America Industrial Batteries Market Outlook, By Type (2021-2030) ($MN)
- Table 75 South America Industrial Batteries Market Outlook, By Nickel-Based (2021-2030) ($MN)
- Table 76 South America Industrial Batteries Market Outlook, By Lead-Acid Based (2021-2030) ($MN)
- Table 77 South America Industrial Batteries Market Outlook, By Lithium-Based (2021-2030) ($MN)
- Table 78 South America Industrial Batteries Market Outlook, By Other Types (2021-2030) ($MN)
- Table 79 South America Industrial Batteries Market Outlook, By Application (2021-2030) ($MN)
- Table 80 South America Industrial Batteries Market Outlook, By Energy Storage (2021-2030) ($MN)
- Table 81 South America Industrial Batteries Market Outlook, By Backup Power (2021-2030) ($MN)
- Table 82 South America Industrial Batteries Market Outlook, By Telecom (2021-2030) ($MN)
- Table 83 South America Industrial Batteries Market Outlook, By Forklift (2021-2030) ($MN)
- Table 84 South America Industrial Batteries Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 85 South America Industrial Batteries Market Outlook, By End User (2021-2030) ($MN)
- Table 86 South America Industrial Batteries Market Outlook, By Power Sector (2021-2030) ($MN)
- Table 87 South America Industrial Batteries Market Outlook, By Manufacturing (2021-2030) ($MN)
- Table 88 South America Industrial Batteries Market Outlook, By Utilities (2021-2030) ($MN)
- Table 89 South America Industrial Batteries Market Outlook, By Transportation (2021-2030) ($MN)
- Table 90 South America Industrial Batteries Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 91 Middle East & Africa Industrial Batteries Market Outlook, By Country (2021-2030) ($MN)
- Table 92 Middle East & Africa Industrial Batteries Market Outlook, By Type (2021-2030) ($MN)
- Table 93 Middle East & Africa Industrial Batteries Market Outlook, By Nickel-Based (2021-2030) ($MN)
- Table 94 Middle East & Africa Industrial Batteries Market Outlook, By Lead-Acid Based (2021-2030) ($MN)
- Table 95 Middle East & Africa Industrial Batteries Market Outlook, By Lithium-Based (2021-2030) ($MN)
- Table 96 Middle East & Africa Industrial Batteries Market Outlook, By Other Types (2021-2030) ($MN)
- Table 97 Middle East & Africa Industrial Batteries Market Outlook, By Application (2021-2030) ($MN)
- Table 98 Middle East & Africa Industrial Batteries Market Outlook, By Energy Storage (2021-2030) ($MN)
- Table 99 Middle East & Africa Industrial Batteries Market Outlook, By Backup Power (2021-2030) ($MN)
- Table 100 Middle East & Africa Industrial Batteries Market Outlook, By Telecom (2021-2030) ($MN)
- Table 101 Middle East & Africa Industrial Batteries Market Outlook, By Forklift (2021-2030) ($MN)
- Table 102 Middle East & Africa Industrial Batteries Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 103 Middle East & Africa Industrial Batteries Market Outlook, By End User (2021-2030) ($MN)
- Table 104 Middle East & Africa Industrial Batteries Market Outlook, By Power Sector (2021-2030) ($MN)
- Table 105 Middle East & Africa Industrial Batteries Market Outlook, By Manufacturing (2021-2030) ($MN)
- Table 106 Middle East & Africa Industrial Batteries Market Outlook, By Utilities (2021-2030) ($MN)
- Table 107 Middle East & Africa Industrial Batteries Market Outlook, By Transportation (2021-2030) ($MN)
- Table 108 Middle East & Africa Industrial Batteries Market Outlook, By Other End Users (2021-2030) ($MN)
