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Global Industrial Batteries Market Size, Share, Trends, Forecast: By Battery Type: Lead-Acid, Lithium-Based, Others; By End Use: Telecom and Data Communication, Uninterruptible Power Supply (UPS), Motive Power, Grid-Level Energy Storage, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Global Industrial Batteries Market Outlook
The global industrial batteries market size reached approximately USD 21.08 billion in 2023. The market is further projected to grow at a CAGR of 9% between 2024 and 2032, reaching a value of USD 45.93 billion by 2032.
Key Trends in the Market
Industrial batteries refer to electrochemical devices that convert chemical energy into electricity by converting high-level active materials to alternate state during discharge. They are used for controlling forklifts, electric vehicles, heavy machinery hardware, and trucks, among others. These batteries are designed to withstand extreme temperatures, high vibrations, and heavy usage.
- Increased adoption of electric vehicles due to rising environmental concerns is aiding the industrial batteries market growth. Lithium-based batteries are deployed in electric vehicles due to their long life cycle, no memory effects, and high specific capacity, among others.
- The rising requirement for reliable and continuous sources of energy for powering heavy-duty equipment is providing lucrative growth opportunities to the market. Industrial batteries can also be used in extreme temperatures and remote locations due to their longer lifespan.
- The market expansion is also being aided by novel product innovations and introduction of green industrial batteries for addressing the rising environmental concerns by reducing the carbon footprint.
- Rising utilisation of industrial batteries by the healthcare sector in critical care systems and health monitoring systems, among others in healthcare centres and hospitals is further supporting the growth of the market across the globe.
Global Industrial Batteries Market Analysis
On the basis of battery type, the market is divided into lead-acid and lithium-based, among others. Based on end use, the market is categorised into telecom and data communication, uninterruptible power supply (UPS), motive power, and grid-level energy storage, among others. On the basis of region, the industrial batteries market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Toshiba Corporation
- Johnson Controls International plc
- Robert Bosch GmbH
- Exide Industries Ltd.
- LG Energy Solution, Ltd.
- EnerSys, Inc.
- TotalEnergies S.E.
- C&D Technologies, Inc.
- East Penn Manufacturing Company
- GS Yuasa Corporation
- Crown Battery
- Other
Market Share by Battery Type
Lithium-based batteries are expected to account for a significant industrial batteries market share in the coming years owing to their vast number of applications in various industrial operations including industrial automation, grid-level storage, and UPS systems, among others. The economic efficiency, improved performance, and high energy density are also boosting their utilisation among various sectors. The rising investments in the research and development activities in order to enhance the performance of lithium-based batteries by various major market players are further supporting the segment growth.
Market Share by Region
The Asia Pacific is anticipated to account for a significant share of the market over the forecast period. This growth can be attributed to the rising demand for renewable energy storage from residential and commercial sectors. The rapid expansion of the automotive sector and the presence of a strong manufacturing base in the region are further aiding the market growth. The increasing requirement for industrial vehicles including battery-operated forklifts is further boosting the industrial batteries market demand in the Asia Pacific.
Competitive Landscape
Toshiba Corporation, headquartered in Tokyo, Japan, is involved in the manufacturing of a wide range of consumer and business products including printers and copiers, HD television, LCD devices and laptops, among others. The company is also known to manufacture industrial batteries for their global customers.
Johnson Controls International plc is an industrial machinery manufacturing company that was founded in 1885 and is headquartered in Cork, Ireland. The company specialises in fire and hazard automation, building automation, security, and HVAC, among others.
Robert Bosch GmbH specialises in mobility solutions, artificial intelligence, sustainable technologies, energy and building technology, and industrial technology, among others. The company was founded in 1886 and is headquartered in Gerlingen, Germany.
Other industrial batteries market key players include Exide Industries Ltd., LG Energy Solution, Ltd., EnerSys, Inc., TotalEnergies S.E., C&D Technologies, Inc., East Penn Manufacturing Company, GS Yuasa Corporation, and Crown Battery, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Battery Type |
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| Breakup by End Use |
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| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Industrial Batteries Market Analysis
8.1 Key Industry Highlights
8.2 Global Industrial Batteries Historical Market (2018-2023)
8.3 Global Industrial Batteries Market Forecast (2024-2032)
8.4 Global Industrial Batteries Market by Battery Type
8.4.1 Lead-Acid
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Lithium-Based
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Others
8.5 Global Industrial Batteries Market by End Use
8.5.1 Telecom and Data Communication
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Uninterruptible Power Supply (UPS)
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Motive Power
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Grid-Level Energy Storage
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Others
8.6 Global Industrial Batteries Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Industrial Batteries Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Industrial Batteries Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Industrial Batteries Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Industrial Batteries Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Industrial Batteries Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Toshiba Corporation
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Johnson Controls International plc
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Robert Bosch GmbH
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Exide Industries Ltd.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 LG Energy Solution, Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 EnerSys, Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 TotalEnergies S.E.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 C&D Technologies, Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 East Penn Manufacturing Company
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 GS Yuasa Corporation
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Crown Battery
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 Other
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Industrial Batteries Market: Key Industry Highlights, 2018 and 2032
2. Global Industrial Batteries Historical Market: Breakup by Battery Type (USD Billion), 2018-2023
3. Global Industrial Batteries Market Forecast: Breakup by Battery Type (USD Billion), 2024-2032
4. Global Industrial Batteries Historical Market: Breakup by End Use (USD Billion), 2018-2023
5. Global Industrial Batteries Market Forecast: Breakup by End Use (USD Billion), 2024-2032
6. Global Industrial Batteries Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Industrial Batteries Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Industrial Batteries Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Industrial Batteries Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Industrial Batteries Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Industrial Batteries Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Industrial Batteries Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Industrial Batteries Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Industrial Batteries Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Industrial Batteries Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Industrial Batteries Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Industrial Batteries Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Industrial Batteries Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 21.08 billion in 2023.
The market is projected to grow at a CAGR of 9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 45.93 billion by 2032.
The major market drivers include rising product requirement for operation of heavy-duty equipment and increased adoption of green industrial batteries due to growing environmental concerns.
The key trends fuelling the growth of the market include growing adoption by the healthcare sector and product innovations and increasing research and development activities to reduce the costs and boost the efficiency of the batteries.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The end uses of industrial batteries include telecom and data communication, uninterruptible power supply (UPS), motive power, and grid-level energy storage, among others.
The key players in the market are Toshiba Corporation, Johnson Controls International plc, Robert Bosch GmbH, Exide Industries Ltd., LG Energy Solution, Ltd., EnerSys, Inc., TotalEnergies S.E., C&D Technologies, Inc., East Penn Manufacturing Company, GS Yuasa Corporation, and Crown Battery, among others.
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