Industrial Batteries Market is projected to reach a value of over USD 14.13 billion by 2027 at a CAGR of around 4.8%.

4 min readOct 5, 2020

Industrial Batteries Market: Summary

The Global Industrial Batteries Market is projected to reach a value of over USD 14.13 billion by 2027 at a CAGR of around 4.8%.

The industrial battery is any battery that is designed exclusively only for industrial uses. These are electrochemical devices that convert higher-level active materials into an alternate state during discharge. These batteries are used in electric vehicles to transporting, lifting, or moving materials to warehouses. Battery materials are chemical and metals widely used to manufacture primary and secondary batteries. These materials depend on properties such as crystallinity, porosity, crystal size and shape, doping, and surface modification. The battery performance is measured based on energy density, stability or cyclability, power density, price, and safety.

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Industrial Batteries Market: Drivers & Challenges

Market Driver:

  • Increasing Demand for Lithium-Ion Batteries in Various Applications

Lithium-ion batteries have favorable capacity-to-weight ratio thus it is widely used in the industrial application. Other factors boosting the LIB adoption include its properties, like better performance, higher energy density, and decreasing price. The prices of Lithium-ion batteries are usually higher compared to other battery types. However, leading market players have been investing in R&D activities to improve battery performance and price, in order to gain economies of scale. The emergence of new and exciting markets, such as energy storage systems (ESS), for both commercial and residential applications, is driving the demand for lithium-ion batteries. Thus, an increase in demand for plug-in vehicles, rising need for automation and battery-operated material-handling equipment in industries, propelling demand for smart devices and other industrial goods, and high requirement of lithium-ion batteries for industrial applications are the key driving factors.

Market Restraint:

  • Safety Issues Related to Battery Usage

Within Li-ion batteries, highly flammable electrolytes are used in combination with active materials that can run under overheat condition into an exothermal decomposition reaction. The high energy density, in combination with the low heat capacity, results in fast heating in case of an overload or short circuit. Safety of cells and battery systems must be guaranteed by the use of safe materials, a proper cell and battery pack design, and supported by active safety functions of a battery management system. As an example, cell-to-cell propagation of a thermal runaway is a key topic for pack design. Finally, the safety must be validated by a set of safety tests. Thus, the safety issues related to battery usages is act a major restraint towards the market growth up to a certain extent.

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Industrial Batteries Market: Key Segments

  • Segmentation based on type: Lead Acid, Lithium Based, Nickel Based, and Others.
  • Segmentation based on end-user industry: Telecom & Data Communication, Uninterruptible Power Supply (UPS)/Backup, Grid-Level Energy Storage, Industrial Equipment, and Others.
  • Segmentation based on region covers: North America, Asia-Pacific, Europe, Middle East & Africa and South America, with individual country-level analysis.

Key Companies Covered

  • Johnson Controls. (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • Exide Technologies
  • Saft
  • GS Yuasa International Ltd.
  • NorthStar.
  • Robert Bosch GmbH
  • East Penn Manufacturing Company
  • Toshiba International Corporation
  • Amara Raja Batteries Ltd.
  • HBL Power Systems Ltd.
  • Other Key Companies

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Industrial Batteries Market: Report Segmentation

For the scope of the report, In-depth segmentation is offered by Forencis Research

Industrial Batteries Market, by Type

  • Lead Acid
  • Lithium Based
  • Nickel Based
  • Others

Industrial Batteries Market, by End-Use Industry

  • Telecom & Data Communication
  • Uninterruptible Power Supply (UPS)/Backup
  • Grid-Level Energy Storage
  • Industrial Equipment
  • Others

Industrial Batteries Market, by Region

  • North America
  • US
  • Canada
  • Mexico
  • Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Rest of Europe
  • Middle East & Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East & Africa
  • South America
  • Brazil
  • Argentina
  • Rest of South America

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Table of Content

1 Introduction

2 Research Design & Scope

3 Executive Summary

4 Market Dynamics

5 Industry Trends — Porters Five Forces Analysis




9 Competitive Landscape

10 Company Profiles

11 Appendix

About Forencis Research

Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets. Forencis Research delivers market research and consulting reports on high growth markets to help companies dominate their competition and set themselves apart by attaining increased revenue growth. To enable exclusive insights around the target market, Forencis Research employs robust research Methodology & Design which includes data acquisition, data synthesis and data correlation, through Primary and Secondary Research. Through the obtained data, Top-down and bottom-up methods are exercised to attain and verify data sanity within the entire market. This market data is yet again correlated with Forencis Research’s internal database before presenting it in any of our final publications. These methods of data correlation and amalgamation benefit us to put forward accurate market estimates enabling our clients to transform their business, markets and most importantly their “REVENUES”.

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