Future Market Insights
Industrial Battery Market: Introduction
An individual battery or a battery pack designed exclusively for professional or industrial use is an industrial battery. An industrial battery consists of two electrodes connected by an electrolyte, which allows the flow of current, converting chemical energy to electric power. Industrial batteries are the energy source for most suppliers and manufacturers and lead-acid based, lithium based and nickel based batteries are the common families of industrial batteries.
Industrial batteries are used to power heavy machinery, electric vehicles, trucks and forklifts specifically designed for moving and lifting materials. They comprise an energy foundation, which powers huge data centers to keep the internet online and cellular phone towers that keep us connected all around the world. The design of these batteries has been evolving for industrial and consumer applications, such as a power source to drive electric vehicles. According to estimates, the industrial battery market generates billions in sales per year and is expected to grow in years to come as these batteries are low cost and efficient.
Industrial batteries are rigid and generally used in difficult-to-reach or remote areas where appliances need to be self-powered. In these situations, replacement or re-charging of batteries is not an easy alternative or is entirely impossible. Hence, failure of battery often results in device failure. Therefore, it is essential that industrial batteries are capable of providing reliable power to devices, so they may operate for as long as needed.
The main applications of industrial batteries are automotive tags, valve regulated batteries, wireless sensors, Absorbent Glass Mats (AGM), GPS tracking machines and oceanographic instruments. Also, monitoring devices and the process control used in hard to reach locations are affected by adverse environmental conditions. Thus, industrial batteries are the best suitable option where low maintenance, temperature sensitivity and volume are crucial.
Industrial Battery Market: Dynamics
The growing automotive, electrical and electronic heavy machinery industries are surging demand for industrial batteries across the globe.
Industrial battery Market will be driven by continues advancement of technology in electronic industry and also, considerable demand of uninterrupted power supply, and battery powered systems is expected to accelerate the sales of industrial batteries.
Industrial lead-acid batteries are relatively durable and currently trending in the market. They hold a sizeable share of the market and this segment is expected to grow exponentially in coming years. These batteries are also recyclable and low emission. Manufacturers in the industrial battery market are reaping profits from the rapidly increasing production of hybrid and electric vehicles, particularly in the U.S. and Western Europe. However, the maintenance and weight of industrial batteries are hindering the market growth. Focusing on manufacturing more compact batteries can prove to be an opportunity for manufacturers.
Industrial Battery Market: Segmentation
Segmentation of the industrial battery market by type:
Segmentation of the industrial battery market by rated capacity:
Segmentation of the industrial battery market on the basis of application:
Industrial Battery Market: Regional Outlook
China is considered as a growing market for industrial batteries, due to increasing output from the manufacturing sector, especially electrical and electronic manufacturing industries and motor vehicles. Western Europe and North America are next in line to see a potential increase in industrial battery demand, due to the growing demand for battery supported systems that regulate power frequency and store energy. In the United States, industrial battery suppliers are prospering from the rising installation of off-grid renewable energy systems and micro-grid renewable energy systems.
Industrial Battery Market: Market Participants
Examples of some of the market participants in the industrial battery market are:
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