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.
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Industrial Battery Market: Strategic Insights
Market Size Value in US$ 12,501.9 Million in 2019 Market Size Value by US$ 21,893.5 Million by 2027 Growth rate CAGR of 7.3% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Industrial Battery Market: Strategic Insights
| Market Size Value in | US$ 12,501.9 Million in 2019 |
| Market Size Value by | US$ 21,893.5 Million by 2027 |
| Growth rate | CAGR of 7.3% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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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
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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type ; Application /Backup
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
The Industrial Equipment sector is the leading industry in the market, which comprises machinery, large scale process, and construction industry plants. The growing industry 4.0 trends, such as IoT, Artificial Intelligence (AI), big data analysis, networked communications, cloud computing, and machine learning technologies, are marking a substantial change in the businesses model and the way of attracting customers. Such growing technologies are offering innovative industrial equipment solutions that support the production and delivery of efficient equipment. In order to operate a warehouse or heavy machinery, the need for material handling equipment batteries is necessary. Lithium-ion batteries are ideally used for the equipment used in various industries, such as food and beverage and tissue industries. Increasing use of industrial equipment in areas such as airport ground support, lift trucks, sweepers, and scrubbers, and automatic guided vehicles (AGV) is propelling the growth of industrial battery market.
The APAC region led the Industrial Battery market in 2019 as the factors such as the growing industrial equipment, mining, and marine industries, stringent environmental regulations, and reduced labor costs associated with battery recycling are the factors boosting the APAC industrial battery market growth.
Governments across the world are focusing on expanding the reach of digitization and promoting the utilization of several electronic devices, and have become the most important storage technology in the areas of portable and mobile applications (e.g., laptop, cell phone, electric bicycle, and electric car). Other important uses of lithium-ion batteries include storage in electrical grids. Moreover, the performance of Lithium-ion batteries (LIBs) used in grid-level energy storage systems is analyzed by service providers with regard to frequency regulation, peak shifting, integration with renewable energy sources, and power management. The increasing requirement of lithium-ion batteries in various applications is one of the major factors driving the industrial battery market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Industrial Battery Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America – PEST Analysis
4.2.2 Europe – PEST Analysis
4.2.3 Asia-Pacific – PEST Analysis
4.2.4 Middle East & Africa – PEST Analysis
4.2.5 South America – PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
4.5 Premium Insights
4.5.1 Forklift Truck Battery Market –Revenue and Forecast to 2027 (US$ Million)
4.5.2 Forklift Truck Batteries Market by Battery Type
4.5.3 Forklift Truck Battery Market by Sales Channel
4.5.4 Forklift Truck Battery Market by Capacity
5. Industrial Battery Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing demand for grid-connected solutions to ensure uninterruptable power supply
5.1.2 Increasing requirement of lithium-ion batteries
5.2 Market Restraints
5.2.1 High capital investments required for deployment
5.3 Opportunity
5.3.1 Growing adoption of electric vehicles in Industrial sector
5.4 Trends:
5.4.1 Adoption of advanced technologies such as IoT across various industries
5.5 Impact Analysis of Drivers And Restraints
6. Industrial Battery – Global Market Analysis
6.1 Overview
6.2 Industrial Battery Market –Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Five Key Players
7. Industrial Battery Market Analysis – By Type
7.1 Overview
7.2 Industrial Battery Market, By Type (2019 and 2027)
7.3 Lead-Acid Batteries
7.3.1 Overview
7.3.2 Lead-Acid Batteries: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
7.4 Lithium-Based Batteries
7.4.1 Overview
7.4.2 Lithium-Based Batteries: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
7.5 Nickel-Based Batteries
7.5.1 Overview
7.5.2 Nickel-Based Batteries: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
8. Industrial Battery Market Analysis – By Application
8.1 Overview
8.2 Industrial Battery Market, By Application (2019 and 2027)
8.3 Telecom and Data Communication
8.3.1 Overview
8.3.2 Telecom and Data Communication: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Industrial Equipment
8.4.1 Overview
8.4.2 Industrial Equipment: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
8.5 Uninterruptible Power Supply (UPS) Backup
8.5.1 Overview
8.5.2 Uninterruptible Power Supply (UPS) Backup: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
8.6 Grid-Level Energy Storage
8.6.1 Overview
8.6.2 Grid-Level Energy Storage: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
8.7 Mining
8.7.1 Overview
8.7.2 Mining: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
8.8 Marine
8.8.1 Overview
8.8.2 Marine: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
8.9 Others
8.9.1 Overview
8.9.2 Others: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9. Industrial Battery Market – Geographic Analysis
9.1 Overview
9.2 North America: Industrial Battery Market
9.2.1 North America: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9.2.2 North America: Industrial Battery Market, by Type
9.2.3 North America: Industrial Battery Market, by Application
9.2.4 North America: Industrial Battery Market, by Key Country
9.2.4.1 US: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9.2.4.1.1 US: Industrial Battery Market, by Type
9.2.4.1.2 US: Industrial Battery Market, by Application
9.2.4.2 Canada: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9.2.4.2.1 Canada: Industrial Battery Market, by Type
9.2.4.2.2 Canada: Industrial Battery Market, by Application
9.2.4.3 Mexico: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9.2.4.3.1 Mexico: Industrial Battery Market, by Type
9.2.4.3.2 Mexico: Industrial Battery Market, by Application
9.3 Europe: Industrial Battery Market
9.3.1 Europe: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9.3.2 Europe: Industrial Battery Market, by Type
9.3.3 Europe: Industrial Battery Market, by Application
9.3.4 Europe: Industrial Battery Market, by Key Country
9.3.4.1 Germany: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.1.1 Germany: Industrial Battery Market, by Type
9.3.4.1.2 Germany: Industrial Battery Market, by Application
9.3.4.2 France: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.2.1 France: Industrial Battery Market, by Type
9.3.4.2.2 France: Industrial Battery Market, by Application
9.3.4.3 Italy: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.3.1 Italy: Industrial Battery Market, by Type
9.3.4.3.2 Italy: Industrial Battery Market, by Application
9.3.4.4 UK: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.4.1 UK: Industrial Battery Market, by Type
9.3.4.4.2 UK: Industrial Battery Market, by Application
9.3.4.5 Russia: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.5.1 Russia: Industrial Battery Market, by Type
9.3.4.5.2 Russia: Industrial Battery Market, by Application
9.3.4.6 Rest of Europe: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.6.1 Rest of Europe: Industrial Battery Market, by Type
9.3.4.6.2 Rest of Europe: Industrial Battery Market, by Application
9.4 APAC: Industrial Battery Market
9.4.1 APAC: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9.4.2 APAC: Industrial Battery Market, by Type
9.4.3 APAC: Industrial Battery Market, by Application
9.4.4 APAC: Industrial Battery Market, by Key Country
9.4.4.1 Australia: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.1.1 Australia: Industrial Battery Market, by Type
9.4.4.1.2 Australia: Industrial Battery Market, by Application
9.4.4.2 China: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.2.1 China: Industrial Battery Market, by Type
9.4.4.2.2 China: Industrial Battery Market, by Application
9.4.4.3 India: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.3.1 India: Industrial Battery Market, by Type
9.4.4.3.2 India: Industrial Battery Market, by Application
9.4.4.4 Japan: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.4.1 Japan: Industrial Battery Market, by Type
9.4.4.4.2 Japan: Industrial Battery Market, by Application
9.4.4.5 South Korea: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.5.1 South Korea: Industrial Battery Market, by Type
9.4.4.5.2 South Korea: Industrial Battery Market, by Application
9.4.4.6 Rest of APAC: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.6.1 Rest of APAC: Industrial Battery Market, by Type
9.4.4.6.2 Rest of APAC: Industrial Battery Market, by Application
9.5 MEA: Industrial Battery Market
9.5.1 MEA: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9.5.2 MEA: Industrial Battery Market, by Type
9.5.3 MEA: Industrial Battery Market, by Application
9.5.4 MEA: Industrial Battery Market, by Key Country
9.5.4.1 South Africa: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9.5.4.1.1 South Africa: Industrial Battery Market, by Type
9.5.4.1.2 South Africa: Industrial Battery Market, by Application
9.5.4.2 Saudi Arabia: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9.5.4.2.1 Saudi Arabia: Industrial Battery Market, by Type
9.5.4.2.2 Saudi Arabia: Industrial Battery Market, by Application
9.5.4.3 UAE: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9.5.4.3.1 UAE: Industrial Battery Market, by Type
9.5.4.3.2 UAE: Industrial Battery Market, by Application
9.5.4.4 Rest of MEA: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9.5.4.4.1 Rest of MEA: Industrial Battery Market, by Type
9.5.4.4.2 Rest of MEA: Industrial Battery Market, by Application
9.6 SAM: Industrial Battery Market
9.6.1 SAM: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9.6.2 SAM: Industrial Battery Market, by Type
9.6.3 SAM: Industrial Battery Market, by Application
9.6.4 SAM: Industrial Battery Market, by Key Country
9.6.4.1 Brazil: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9.6.4.1.1 Brazil: Industrial Battery Market, by Type
9.6.4.1.2 Brazil: Industrial Battery Market, by Application
9.6.4.2 Argentina: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9.6.4.2.1 Argentina: Industrial Battery Market, by Type
9.6.4.2.2 Argentina: Industrial Battery Market, by Application
9.6.4.3 Rest of SAM: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
9.6.4.3.1 Rest of SAM: Industrial Battery Market, by Type
9.6.4.3.2 Rest of SAM: Industrial Battery Market, by Application
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 Merger and Acquisition
10.4 New Development
11. Key Company Profiles
11.1 C&D Technologies, Inc.
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 East Penn Manufacturing Company
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 EnerSys
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Exide Industries Limited
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 General Electric Company
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 GS Yuasa International Ltd.
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 LG Chem
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Panasonic Corporation
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Robert Bosch GmbH
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Saft Groupe SA
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Word Index
LIST OF TABLES
Table 1. Forklift Truck Battery Market –Revenue and Forecast to 2027 (US$ Million)
Table 2. Forklift Truck Batteries Market Revenue And Forecasts To 2027, By Battery Type (US$ Mn)
Table 3. Forklift Truck Batteries Market Revenue And Forecasts To 2027, By Sales Channel (US$ Mn)
Table 4. Forklift Truck Batteries Market Revenue And Forecasts To 2027, By Capacity (US$ Mn)
Table 5. Industrial Battery Market –Revenue and Forecast to 2027 (US$ Million)
Table 6. North America: Industrial Battery Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 7. North America: Industrial Battery Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 8. US: Industrial Battery Market, by Type –Revenue and Forecast to 2027 (US$ Million)
Table 9. US: Industrial Battery Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 10. Canada: Industrial Battery Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 11. Canada: Industrial Battery Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 12. Mexico: Industrial Battery Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 13. Mexico: Industrial Battery Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 14. Europe: Industrial Battery Market, by Type– Revenue and Forecast to 2027 (US$ Million)
Table 15. Europe: Industrial Battery Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 16. Germany: Industrial Battery Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 17. Germany: Industrial Battery Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 18. France: Industrial Battery Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 19. France: Industrial Battery Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 20. Italy: Industrial Battery Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 21. Italy: Industrial Battery Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 22. UK: Industrial Battery Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 23. UK: Industrial Battery Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 24. Russia: Industrial Battery Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 25. Russia: Industrial Battery Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 26. Rest of Europe: Industrial Battery Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 27. Rest of Europe: Industrial Battery Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 28. APAC: Industrial Battery Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 29. APAC: Industrial Battery Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 30. Australia: Industrial Battery Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 31. Australia: Industrial Battery Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 32. China: Industrial Battery Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 33. China: Industrial Battery Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 34. India: Industrial Battery Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 35. India: Industrial Battery Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 36. Japan: Industrial Battery Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 37. Japan: Industrial Battery Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 38. South Korea: Industrial Battery Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 39. South Korea: Industrial Battery Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 40. Rest of APAC: Industrial Battery Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 41. Rest of APAC: Industrial Battery Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 42. MEA: Industrial Battery Market, by Type– Revenue and Forecast to 2027 (US$ Million)
Table 43. MEA: Industrial Battery Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 44. South Africa: Industrial Battery Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 45. South Africa: Industrial Battery Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 46. Saudi Arabia: Industrial Battery Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 47. Saudi Arabia: Industrial Battery Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 48. UAE: Industrial Battery Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 49. UAE: Industrial Battery Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 50. Rest of MEA: Industrial Battery Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 51. Rest of MEA: Industrial Battery Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 52. SAM: Industrial Battery Market, by Type– Revenue and Forecast to 2027 (US$ Million)
Table 53. SAM: Industrial Battery Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 54. Brazil: Industrial Battery Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 55. Brazil: Industrial Battery Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 56. Argentina: Industrial Battery Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 57. Argentina: Industrial Battery Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 58. Rest of SAM: Industrial Battery Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 59. Rest of SAM: Industrial Battery Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 60. List of Abbreviation
LIST OF FIGURES
Figure 1. Industrial Battery Market Segmentation
Figure 2. Industrial Battery Market Segmentation – By Geography
Figure 3. Global Industrial Battery Market Overview
Figure 4. Others Application to Show Remarkable Traction During Forecast Period
Figure 5. Lead-Acid Batteries Type to Dominate the Industrial Battery Market
Figure 6. Global Industrial Battery Market, Industry Landscape
Figure 7. Global Industrial Battery Market, Geography Analysis
Figure 8. North America – PEST Analysis
Figure 9. Europe – PEST Analysis
Figure 10. Asia-Pacific – PEST Analysis
Figure 11. Middle East & Africa – PEST Analysis
Figure 12. South America – PEST Analysis
Figure 13. Ecosystem Analysis
Figure 14. Expert Opinion
Figure 15. Industrial Battery Market Impact Analysis of Drivers And Restraints
Figure 16. Global Industrial Battery Market
Figure 17. Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. Industrial Battery Market Revenue Share, by Type (2019 and 2027)
Figure 19. Lead-Acid Batteries: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. Lithium-Based Batteries: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. Nickel-Based Batteries: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. Others: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. Industrial Battery Market Revenue Share, by Application (2019 and 2027)
Figure 24. Telecom and Data Communication: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. Industrial Equipment: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. Uninterruptible Power Supply (UPS) Backup: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. Grid-Level Energy Storage: Industrial Battery Market – Revenue and Forecast to 2027 (US$ million)
Figure 28. Mining: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 29. Marine: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 30. Others: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 31. Global Industrial Battery Market Revenue Share, by Region (2018 and 2027)
Figure 32. North America: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 33. North America: Industrial Battery Market Revenue Share, by Type (2018 and 2027)
Figure 34. North America: Industrial Battery Market Revenue Share, by Application (2018 and 2027)
Figure 35. North America: Industrial Battery Market Revenue Share, by Key Country (2018 and 2027)
Figure 36. US: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 37. Canada: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 38. Mexico: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 39. Europe: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 40. Europe: Industrial Battery Market Revenue Share, by Type (2018 and 2027)
Figure 41. Europe: Industrial Battery Market Revenue Share, by Application (2018 and 2027)
Figure 42. Europe: Industrial Battery Market Revenue Share, by Key Country (2018 and 2027)
Figure 43. Germany: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 44. France: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 45. Italy: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 46. UK: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 47. Russia: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 48. Rest of Europe: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 49. APAC: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 50. APAC: Industrial Battery Market Revenue Share, by Type (2019 and 2027)
Figure 51. APAC: Industrial Battery Market Revenue Share, by Application (2019 and 2027)
Figure 52. APAC: Industrial Battery Market Revenue Share, by Key Country (2019 and 2027)
Figure 53. Australia: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 54. China: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 55. India: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 56. Japan: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 57. South Korea: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 58. Rest of APAC: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 59. MEA: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 60. MEA: Industrial Battery Market Revenue Share, by Type (2019 and 2027)
Figure 61. MEA: Industrial Battery Market Revenue Share, by Application (2019 and 2027)
Figure 62. MEA: Industrial Battery Market Revenue Share, by Key Country (2019 and 2027)
Figure 63. South Africa: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 64. Saudi Arabia: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 65. UAE: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 66. Rest of MEA: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 67. SAM: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 68. SAM: Industrial Battery Market Revenue Share, by Type (2019 and 2027)
Figure 69. SAM: Industrial Battery Market Revenue Share, by Application (2019 and 2027)
Figure 70. SAM: Industrial Battery Market Revenue Share, by Key Country (2019 and 2027)
Figure 71. Brazil: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 72. Argentina: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
Figure 73. Rest of SAM: Industrial Battery Market – Revenue and Forecast to 2027 (US$ Million)
The List of companies - Industrial Battery Market
- 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
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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