Industrial Battery Market Share, Size, Trend | Forecast 2027

The industrial battery market was valued at US$ 12,501.9 Mn in 2019 and is expected to grow at a CAGR of 7.3% from 2020 to 2027 to reach US$ 21,893.5 Mn by 2027.

  

Industrial batteries are specially designed batteries that can operate under harsh industrial temperatures such as extreme temperatures, more vibrations, and heavy use. Industrial batteries perform batter and are designed to be more powerful. In the present market scenario, the companies are rigorously working towards the development of highly efficient batteries that caters to the varying industrial battery needs. The global industrial battery market is anticipated to witness impressive growth during the forecast period. The demand for Lithium-based batteries is expected to grow significantly during the forecast period. The adoption of Lithium batteries is expected to grow across various verticals owing to the advantages offered by it, such as low emissions, increased lifecycle, and recyclability. The companies operating in the market are focusing on the development of new products to gain a strong customer base and achieve a significant market share.   

The Government in North American countries, such as the U.S. are taking continuous steps to enhance the productivity of the manufacturing industry. Such as providing the latest technologies for easing the process of manufacturing and increasing the number of warehouses. The use of automated technologies in these warehouses is anticipated to influence the growth of the industrial battery market in North America. The increased spending by government leads towards the development of any technology. In the North American region, the government spending on technology advance activities is quite high, which makes climate favorable for any business to blossom. IoT, Big Data, and advance technologies have witnessed high adoptions in this region. These technologies, in turn, fuel the requirements of the enhanced network as well as the demand for industrial battery. Few emerging technologies in the industrial battery market are new generation lithium-ion (Li-ion) batteries, lithium-sulfur batteries, solid-state batteries, aluminium-ion batteries, etc.   

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Get 10% FREE CUSTOMIZATION

Industrial Battery Market: Strategic Insights

Industrial Battery Market

• 
  CAGR (2019 - 2027)

  7.3%
• Market Size 2019
  US$ 12.5 Billion
• Market Size 2027
  US$ 21.89 Billion

Market Dynamics

GROWTH DRIVERS

• Growing demand for renewable energy storage solutions
• Increased adoption of electric vehicles
• Expansion of the industrial automation sector
• Rising focus on reducing carbon emissions
• Advancements in battery technology and energy density
• Government incentives and regulations promoting clean energy
• Development of off-grid and backup power systems
• Need for energy storage in remote and off-grid locations
• Growing electric forklift and material handling equipment market
• Increasing use of industrial batteries in telecom and data centers

FUTURE TRENDS

• Shift towards solid-state and lithium-sulfur batteries
• Integration of advanced energy management systems for optimization
• Increased use of AI and IoT for battery monitoring and predictive maintenance
• Rise in circular economy practices with battery recycling and reuse
• Development of ultra-fast charging solutions for industrial applications
• Growing focus on battery performance in extreme temperature environments
• Expansion of second-life battery applications in energy storage systems
• Transition to sustainable and low-cost materials for battery production
• Increase in wireless charging technology for industrial equipment
• Emergence of hybrid energy storage solutions combining batteries and supercapacitors

OPPORTUNITIES

• Rising demand for energy storage solutions in renewable energy systems
• Expansion of electric vehicle infrastructure and fleet management
• Growth in off-grid and backup power solutions for industrial applications
• Increasing adoption of industrial automation and robotics
• Development of next-generation battery technologies with higher efficiency
• Opportunities in upgrading legacy energy storage systems
• Government subsidies and incentives for clean energy technologies
• Growing market for sustainable and eco-friendly battery materials
• Demand for high-performance batteries in telecom and data centers
• Emerging markets for electric forklifts and material handling equipment

Key Players

• C D Technologies Inc
• East Penn Manufacturing Company
• EnerSys
• Exide Industries Limited
• General Electric Company
• GS Yuasa International Ltd
• LG Chem
• Panasonic Corporation
• Robert Bosch GmbH

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Type

• Lead-acid Batteries
• Lithium-based Batteries
• Nickel-based Batteries

Application

• Telecom & Data Communication
• Industrial Equipment
• Uninterruptible Power Supply/Backup
• Mining
• Marine

Download Free Sample

   Buy Now   

• Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Market Insights

Grid-connected solutions for uninterruptable power supply drives the demand for industrial battery  

The most prominent and essential types of renewable energy sources are solar and wind that are stored in the grid. However, the covering of the sun by clouds or fluctuations in the wind current might lead to variations in the process of energy generation. Such changes create a need for flexible grid systems for energy storage. Industrial battery energy storage systems help the grid operators to save electricity when the quantity of power exceeds the demand for electricity. Thus, the increased adoption of these systems helps in improving the reliability and flexibility of the electricity supply system with respect to generation, transmission, and distribution activities. During transmission and distribution, battery energy storage systems handle various aspects such as asset deferral, harmonic suppression, voltage support, frequency regulation, and power quality. Electric energy time-shift, renewable energy time-shift, baseload levelling, and peak shaving, and renewables capacity firming are the other benefits of using battery energy storage systems for grid-connected solutions, which drive the adoption of these systems, thus fuelling the growth of the industrial battery market. The market players are coming up with new grid solutions for maintaining a competitive edge in the industrial battery market. For instance, Siemens offers SIESTORAGE, an intelligent grid solution. SIESTORAGE is capable of overcoming the challenges phased during the three main aspects of power supply, i.e., optimizing grid connections, providing elastic energy for modern grids, and supporting large energy consumers. Further, in July 2015, EDP Distribuicao offered Storage InovGrid tender to Siemens’s SIESTORAGE in Évora (Portugal). The SIESTORAGE system provides services such as voltage regulation, energy back-up, and peak shaving in EDP’s grid stability, and replicates the benefits of intelligent grids to the grid operators.   

Type Insights

In type segment, Lead-acid batteries captured the largest share in the global industrial battery market. The lead-acid battery has a low-cost and gives high performance, these can be easily recycled, and they are simple to charge. The deployment of lead-acid battery is wide owing to its low cost and long service life. However, the battery would not be suitable for a sustained high load; also, it has a relatively lower volumetric energy density, which makes their deployment slightly unfeasible for energy management applications; hence it is mainly used for power applications. Advancements of this battery are still on the track, which could allow it to become a more feasible option for the energy management.   

 

Application Insights

The industrial battery market, by application, is segmented into telecom & data communication, industrial equipment, uninterruptible power supply (Ups)/Backup, mining, marine, and others. The industrial equipment segment captured dominating share in the global industrial battery market. The growing industry 4.0 trends, such as IoT, Artificial Intelligence (AI), big data analysis, networked communications, cloud computing, and machine learning technologies, marking a substantial change in the way businesses work and how they engage with their customers. Such growing technologies are offering innovative industrial equipment solutions that support the production and delivery of efficient equipment.    

Merger & acquisition strategy is commonly adopted by companies to expand their footprint worldwide and meet the growing demand. This strategy is mostly observed in North America and Europe. The players present in the Industrial Battery market adopt the strategy of expansion and investment in research and development to enlarge customer base across the world, which also permits the players to maintain their brand name globally. Few of the recent acquisitions are listed below;

2019:East Penn announced acquisition of majority interest in Navitas Systems. This acquisition is expected to support the expansion of Motive Power Battery offering.   
2019:Saft announced the acquisition of 100 % of the shares of Go Electric Inc., a US-based developer of distributed energy resiliency solutions for micro grids and Commercial & Industrial customers.  

Industrial Battery Market Report Scope

Download Free Sample

   Buy Now   

• Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Industrial Battery Market – By Type 

• Lead-acid Batteries
• Lithium-based Batteries
• Nickel-based Batteries
• Others

Industrial Battery Market – By Application

• Telecom & Data Communication
• Industrial Equipment
• UPS/Backup
• Grid-level Energy Storage
• Mining
• Marine
• Others

Global Industrial Battery Market by Region

• North America

  • US
  • Canada
  • Mexico

• Europe

  • France
  • Germany
  • Italy
  • UK
  • Russia
  • Rest of Europe

• Asia Pacific

  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of Asia Pacific

• Middle East & Africa

  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa

• South America

  • Brazil
  • Argentina
  • Rest of South America 

Companies Profiles

• C&D Technologies, Inc.
• East Penn Manufacturing Company
• EnerSys
• Exide Industries Limited
• General Electric Company
• GS Yuasa International Ltd.
• LG Chem
• Panasonic Corporation
• Robert Bosch GmbH
• Saft Groupe SA