Post Covid19:Industrial Batteries Market To Reach Usd 14.13 Billion By 2027 | Cagr 4.8% — Forencis Research

  • According to the new market research report Industrial Batteries Market by Type (Lead Acid, Lithium Based, Nickel-Based), by End-Use Industry (Telecom & Data Communication, Uninterruptible Power Supply (UPS)/Backup, Grid-Level Energy Storage, Industrial Equipment), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) — Global Forecast (2020 to 2027)”, the global Industrial Batteries market is estimated to reach USD 14.13 Billion by 2027 at a CAGR of around 4.8% during the review period.
  • The industrial batteries are 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 the properties such as crystallinity, porosity, crystal size and shape, doping, and surface modification
  • 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
  • Moreover, government incentives for clean energy sources and the adoption of the electric vehicle is also a key factor that driving the global industrial batteries market
  • However, the safety issues related to battery usages is acting a major restraint towards the market growth up to a certain extent
  • High demand from data centers and telecom companies is expected to create huge market opportunities for key market players in the industrial battery market
  • Asia-Pacific
  • North America
  • Johnson Controls:
  • Exide Technologies:

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