Global Industrial Battery Market Overview:
Industrial batteries are used in variety of applications including electrical vehicles, heavy machineries, heavy vehicles and forklifts specifically designed for transporting and lifting materials from one place to other. In addition to this, the design and performance of these batteries has been evolving for industrial and consumer applications, such as an energy source to drive electric vehicles.
As per latest study released by AMA Research, the Global Industrial Battery market is expected to see growth rate of 9.3%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Increasing Investments in the Emerging Economies and Government Initiatives in Modernization and Development
Market Growth Drivers:
Robust Research and Development Expenses in Industry Battery Sector and Growing Propagation of Electronic Commerce
Challenges:
Stringent Government Regulations Regarding Electronic Waste and Negative Environmental Impacts
Restraints:
Introduction to Technologically advanced Batteries such as Lithium Ion Battery and Volatile Demand due to Changing Consumer Preferences as well as Threat of Substitutes
Opportunities:
Up Surging Technological Innovations and Development of Efficient Quality Batteries
Competitive Landscape:
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
Some of the key players profiled in the report are Amara Raja (India), BYD Auto (China), C&D Tech (United States), Coslight (Hong Kong), Eagle Picher (United States), East Penn (United States), Exide Industries (India), GS Yuasa (Japan), Harbin Coslight Power Co. Ltd. (China), Hoppecke (Germany) and Johnson Controls (United States). Additionally, following companies can also be profiled that are part of our coverage like Kokam (South Korea), LG Chem (South Korea), Narada (China), Northstar (India), Panasonic (Japan), Total S.A. (France), Samsung SDI (South Korea), Shin Kobe (Japan), Trojan Battery Company (United States), Ultralife Corporation (United States) and VARTA Microbattery (Germany). Analyst at AMA Research see United States and Asia Pacific Manufacturers to retain maximum share of Global Industrial Battery market by 2030. Considering Market by Distribution Channel, the sub-segment i.e. Online Sales Channel will boost the Industrial Battery market.
Latest Market Insights:
On December 19, 2023, Panasonic and Redwood Materials formed a joint venture to recycle lithium-ion batteries in North America. This partnership aims to close the loop on the battery lifecycle and reduce reliance on virgin materials for battery production.
What Can be Explored with the Industrial Battery Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Industrial Battery Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Industrial Battery
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Industrial Battery market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Industrial Battery market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Industrial Battery Manufacturers, Industrial Battery Distributors and Traders, Automobile Industry, Electronics Industry, Private Organizations, Government Agencies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.