“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.
This report also provides a comprehensive analysis of the companies listed below: Johnson Controls (U.S.),GS Yuasa (Japan)Exide Technologies Inc. (U.S.), EnerSys Inc. (U.S.),SAFT Group S.A. (France),
Research Methodology
The research methodology used to estimate and forecast the industrial batteries begins with capturing data on key vendor revenues through secondary research. The vendor offerings are also taken into consideration to determine the market segmentation. After arriving at the overall market size, the total market was split into several segments and subsegments, which were later verified through primary research by conducting extensive interviews with key personnel, such as CEOs, VPs, directors, and executives. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments of the market.
Johnson Controls Inc. is one of the leading manufacturers of industrial batteries, globally. The company is focusing on global development with investments in key markets, such as Europe and North America and emerging markets, such as China and India. In August 2015, the company established a new manufacturing plant in Northeast China with a capacity of 6 million batteries per year. The company also invested USD 200 million in this new manufacturing plant, based in Tiexi district of Shenyang, capital city of Liaoning province, owing to increased global demand for batteries.
Exide Technologies Inc. is another key player in the industrial batteries market. The company is focusing on the reduction of operating costs and growth opportunities in existing as well as new geographies. For instance, Exide secured an order from British Airways for electric vehicle chargers for Heathrow airport. Exide is also trying to expand its reach by undergoing various distributor partnerships with online portals. Innovative technologies and advanced premium products of the company include Absorbent Glass Mat (AGM) and GEL products for industrial applications.
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.).
