The report "Industrial Batteries Market by type (Lead-Acid, Nickel-Based, Lithium-Based), end-user industry (Telecom & Data Communication, Uninterruptible Power Supply (UPS)/Backup, Industrial Equipment, Grid-Level Energy Storage), and region - Global Forecast to 2021"
The industrial batteries market is projected to reach USD 10.84 Billion by 2021, at a CAGR of 6.5% from 2016 to 2021. The increasing demand for power back-up, growth in the renewable energy sector, increased recycling efficiency of lead- and lithium-based industrial batteries are some key factors expected to drive the growth of industrial batteries market in the near future.
Main objectives of this study are:
- To define, describe, and forecast the industrial batteries market on the basis of type, end-user industry, and region
- To provide market share analysis of the industrial batteries market
- To provide detailed analyses of the value chain of the industrial batteries market
- To analyze opportunities, present in the industrial batteries market for stakeholders, along with detailed competitive landscape and SWOT analysis of market leaders
- To strategically profile the key players and comprehensively analyze their market shares and core competencies in the industrial batteries market
- To analyze competitive developments, such as acquisitions, investments, expansions, partnerships, agreements, joint ventures, and new product developments in the industrial batteries market
Top Key players analyzed in this research areJohnson Controls (U.S.), Exide Technologies Inc. (U.S.), EnerSys Inc. (U.S.), SAFT Groupe S.A. (France), and GS Yuasa Corporation (Japan), among others.
Telecom & Data Communication is expected to be the fastest-growing end-user industry segment of the industrial batteries market
Telecom & data communication was the largest segment of the industrial batteries market in 2015, and is projected to be the fastest-growing segment from 2016 to 2021. The growth of the market can be mainly attributed to the growth in the telecom industry and increasing demand for high efficiency power backup.
Lead-acid industrial batteries was the largest segment of the industrial batteries market
Based on type, lead-acid batteries was the largest segment of the market in 2015. Lithium-based batteries is expected to be the fastest-growing segment, since these batteries are rapidly being adopted owing to their increased life, recyclability, and low emission. These batteries are suitable for use in industrial applications wherein volume, weight, temperature sensitivity, and low maintenance are crucial than the initial cost of the battery.
Asia-Pacific was the largest market for industrial batteries market in 2015, globally
The industrial batteries market, based on region, has been segmented into Asia-Pacific, Europe, North America, Middle East & Africa, and Central & South America. Asia-Pacific and North America are estimated to be the key markets for industrial batteries, owing to the increasing industrial activities and demand for high capacity power backup in these regions. Major manufacturers of industrial batteries include GS Yuasa Corporation (Japan), Exide Technologies Inc. (U.S.), and EnerSys Inc. (U.S.).
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