Global Industrial Battery Market Size, Share, Growth, Trends, and Forecast (2024 - 2031)
Global Industrial Battery Market Scope: Historical Data (2021 – 2022), Base Year (2023), Forecast Period (2024 – 2031)
Market Segmentation: By Technology (Lithium-ion Battery, Lead-acid Battery, and Other Technologies (Nickel Cadmium, Nickel Metal Hydride, Zinc Carbon, etc..)), Application (Forklift, Telecom, UPS, and Other Applications), and Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
Market Overview
The Global Industrial Battery Market was valued at USD 19,998.6 million in 2023 and is expected to reach USD 40,437.1 million by 2031 while growing at a CAGR of 9.2% during the forecast period (2024-2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Market Dynamics
This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global industrial battery market growth. An industrial battery, designed for diverse applications, serves as a rechargeable energy storage device in manufacturing, utilities, telecommunications, data centers, and more. It plays a vital role in maintaining uninterrupted power supply, supporting critical operations, and serving as backup power during outages.
Increasing demand for uninterrupted power supply (UPS) and the growth of industrial battery market are driven by the expansion of electric vehicles (EVs) and forklifts. However, challenges like high initial costs and limited energy density in traditional batteries may impede market expansion.
Furthermore, the global industrial battery industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.
Segmentation – By Technology Analysis
The Global Industrial Battery Market is segmented among Lithium-ion Battery, Lead-acid Battery, and Other Technologies, based on Technology. In 2023, Lead-acid Battery accounted for the majority of the market share*.
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Segmentation – By Application Analysis
The Global Industrial Battery Market is segmented among Forklift, Telecom, UPS, and Other Applications, based on Application. In 2023, UPS accounted for the majority of the market share*.
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Global Industrial Battery Market: Regional Analysis
Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, North America dominated the market with the highest market share, while Asia Pacific is expected to grow with the highest CAGR during the forecast period (2024 – 2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Competitive Landscape
Some of the key players operating in the market are C&D Technologies Pvt. Ltd, East Penn Manufacturing Company Inc., EnerSys, Exide Industries Ltd, GS Yuasa Corporation, Amara Raja Batteries Ltd, Panasonic Corporation, and Saft Groupe SA.
Table of Contents:
1. Research Methodology and Market Scope
Research Methodology
Market Scope
2. Executive Summary
3. Global Industrial Battery Market Dynamics
Drivers
Restraints
Opportunity
4. Global Industrial Battery Industry Analysis
PEST Analysis
Porter's Five Force Analysis
Recent Deals Analysis
5. Global Industrial Battery Market Segmentation, By Technology
Global Industrial Battery Market Share Analysis, By Technology
Global Industrial Battery Market Growth Analysis, By Technology
Global Industrial Battery Market Trends, By Technology
o Lithium-ion Battery
o Lead-acid Battery
o Other Technologies
6. Global Industrial Battery Market Segmentation, By Application
Global Industrial Battery Market Share Analysis, By Application
Global Industrial Battery Market Growth Analysis, By Application
Global Industrial Battery Market Trends, By Application
o Forklift
o Telecom
o UPS
o Other Applications
7. Global Industrial Battery Market Segmentation, By Region
Global Industrial Battery Market Share Analysis, By Region
Global Industrial Battery Market Growth Analysis, By Region
Global Industrial Battery Market Trends, By Region
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East
o Africa
8. Competitive Landscape
C&D Technologies Pvt. Ltd.*
o Company Overview
o Financial Performance
o Key Development/Strategies
o SWOT Analysis
East Penn Manufacturing Company Inc.
EnerSys
Exide Industries Ltd
GS Yuasa Corporation
Amara Raja Batteries Ltd
Panasonic Corporation
Saft Groupe SA
*Similar analysis will be provided for each company listed above.