Deep Cycle Batteries Market Scope
Deep cycle batteries are energy storage units in which a chemical reaction occurs that develops voltage and results in electricity. These batteries are designed to be cycled (discharged and recharged) many times. Deep cycle batteries provide sustained energy, making them ideal for certain applications that require more than a quick start. Some of the most common uses for deep cycle batteries are marine applications, recreational vehicles, material handling, golf carts, and off-grid renewable energy.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | East Penn Manufacturing (United States), EnerSys (United States), Exide Technologies (United States), GS Yuasa (Japan), Johnson Controls (United States), EverExceed (United Kingdom), MIDAC Batteries (Australia), HOPPECKE (Germany), Rolls Battery (Canada) and Trojan Battery (United States) |
CAGR | 4.33% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Deep Cycle Batteries market throughout the predicted period.
East Penn Manufacturing (United States), EnerSys (United States), Exide Technologies (United States), GS Yuasa (Japan), Johnson Controls (United States), EverExceed (United Kingdom), MIDAC Batteries (Australia), HOPPECKE (Germany), Rolls Battery (Canada) and Trojan Battery (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are C&D Technologies (United States), COSLIGHT (India), Crown Battery (United States), Daejin Battery (South Korea), DMS technologies (India), Exide Industries (India), HBL Power Systems (India), Microtex Energy (India), Navitas System (United States), Storage Battery Systems (United States), Su-Kam Power Systems (India), West Marine (United States) and Yokohama Trading (Suriname).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Deep Cycle Batteries market by Type , by Application (Motive, Stationary and Automotive) and Region with country level break-up.
On the basis of geography, the market of Deep Cycle Batteries has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In May 2023, Samsung SDI acquires Kokam which is expected to strengthen Samsung SDI's position in the global battery market, particularly in the growing electric vehicle (EV) battery market. Kokam's expertise in high-performance Li-ion batteries will complement Samsung SDI's existing portfolio of battery technologies, and the combined company will be well-positioned to meet the growing demand for EV batteries.
In August 2023, Johnson Controls has Launched New line deep cycle batteries where the deep cycle batteries are designed for a variety of applications, including renewable energy storage, marine and RV applications, and industrial applications.
Influencing Trend:
Rise In Adoption Of Hybrid Power Systems In Telecom Towers, Increasing Deployment Of Microgrids, Growing High-Speed Rail Networks In Developing Nations and Need For Continuous Power Supply And Power Storage
Market Growth Drivers:
Growing Use Of Golf Carts Among Older Population, High Demand For Electric Forklift Applications, Increased Investment In Green Telecom and Change In Global Energy Mix
Challenges:
Economics Of Fuel Cell Solutions For Material Handling Equipment and Growth In Use Of Li-Ion Batteries
Restraints:
Stringent Government Regulations
Opportunities:
Emerging Demand Form Economies
Key Target Audience
Deep Cycle Batteries Manufacturers, Deep Cycle Batteries Traders/Distributors, Deep Cycle Batteries importer/Exporter, Regulatory Bodies, Industry Association and Downstream Vendors