The global Industrial Batteries market industry is projected to grow from USD 21.2 billion in 2024 to USD 34.7 billion by 2029, at a CAGR of 10.3% during the forecast period. The growth of this market is attributed to rising adoption of lithium-ion batteries in renewable energy sector and increasing demand for grid energy storage systems owing to ongoing grid modernization.
Download FREE PDF Brochure at https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=36754108
Companies such as Enersys (US), C&D Technologies, Inc. (US), GS Yuasa International Ltd. (Japan), Exide Industries Ltd. (India) and Leoch International Technology Limited Inc (China) fall under the winners’ category. These are leading players in the Industrial Batteries market globally. These players have adopted the strategies of acquisitions, expansions, partnerships, and investments to increase their market shares.
Enersys - Enersys is a manufacturer of industrial batteries. The company offers its products through various segments including motive power batteries (for forklifts, material handling equipment etc.), energy system batteries (for data centers, telecom etc.), and specialty batteries for various niche applications. It offers services that include designing, building, installing, and maintaining battery systems. It offers its products in different industrial uses including communications networks, the power of 5G, logistics & warehousing, transportation, cable broadband, data centers, industrial power & utilities, aerospace & defense, safety & security, and medical.
It has a global presence with manufacturing facilities in China, Europe, US, & Oceania and serves customers in over 100 countries. It also has regional headquarters in Europe and Asia. Alpha Technologies Services, Inc., NorthStar Battery, Odyssey Battery, ICS Industries, and Purcell Systems are the subsidiaries of Enersys
C&D Technologies, Inc. - C&D Technologies, Inc. is a manufacturer of energy storage solutions and services for various applications, including uninterruptible power supply (UPS), telecommunications, utility, cable, broadband, renewable energy markets. The company provides solutions to different sectors including data centers/UPS, energy and power infrastructure, renewable energy, telecommunications, government and electric vehicles.
Request FREE Sample of Report at https://www.marketsandmarkets.com/requestsampleNew.asp?id=36754108
The company manufactures two types of batteries including Flooded (VLA) and VRLA. The company has manufacturing facilities located in China, Mexico, and US. The company also has distributors in US, Canada, Europe, Latin America, Africa, Middle East, Asia. It acquired Trojan Battery Company in 2018 which is a manufacturer of deep-cycle batteries for motive and solar applications. Motive products are manufactured under the Trojan brand including, power golf cars, PTVs, EVs, RVs, boats, aerial lifts, and floorcare machines. The company also has two advanced research and development facilities located in the US and offices in Europe and Asia.
Exide Industries Ltd. - Exide Industries Ltd. is an Indian Multinational storage battery manufacturing company. It provides lead-acid storage batteries and power storage solutions in India. It manufactures batteries ranging from 2.5Ah to 20,600Ah capacity, catering to various applications. Its products are applicable in diverse sectors, including automotive, power, telecom, infrastructure, computer, railways, mining and defense sector. The company has nine factories located all over India, out of which 7 factories are dedicated to Battery manufacturing and other 2 are manufacturing Home UPS Systems. It has manufacturing facilities 2 in West Bengal, 1 in Haryana, 3 in Maharashtra, 1 in Tamil Nadu, and 2 in Uttarakhand.
The company sells its products under various brands namely EXIDE, CHLORIDE, CEIL, INDEX, SF SONIC, and DYNEX. The company has a global presence in more than 50 countries. It also offers solutions in areas of equipment selection, battery sizing, optimum room layout, installation, operation and maintenance. The company has in house R&D Centre located in West Bengal, India.
GS Yuasa International Ltd. - GS Yuasa International Ltd. manufactures and sells automotive batteries, industrial batteries, power supply systems, switch gear, and other electrical equipment. The company also has subsidiaries including GS Yuasa Battery Ltd., GS Yuasa Energy Co., Ltd, GS Yuasa Technology Ltd., and Blue Energy Co., Ltd. GS Yuasa Corporation is the holding company for GS Yuasa International Ltd. The company has manufacturing facilities in Gunma, Kyoto, Shiga, & Saitama and has offices in city of Tokyo, Hokkaido, Miyagi, Aichi, Osaka, Hiroshima, and Fukuoka.
The company operates under business segments including Automotive Batteries (Overseas), Industrial Batteries & Power Supply Systems, Automotive batteries (Japan), Automotive Lithium-ion Batteries, specialized batteries and others. It marks its global presence in the US, Europe, East Asia, Asia & Oceania.
Leoch International Technology Limited Inc - Leoch International Technology Limited Inc is a Chinese Battery Manufacturing company. The company provides lead-acid and lithium batteries. The company operates through two business segments that are power solutions business and recycled lead business. The company has four product categories including Lithium Solutions, Network Power, Transportation, and Motive Power. The company serves its products and services to various industries such as Energy Storage Systems, Telecommunication & Data Center Power Solutions, Starting Power Solutions, Motive Power Solutions, Medical, Renewable energy and Battery Recycling. It has more than 10 manufacturing facilities and serves clients in more than 130 countries and regions worldwide.
Recent Developments in Industrial Batteries Market Industry
n In Sep-2022 Umicore and PowerCo had announced the founding of a joint venture for precursor and cathode material production in Europe. From 2025 onwards, the joint venture will supply PowerCo's European battery cell factories with key materials. It also aims to include elements of refining and battery recycling based on Umicore's technology.
n In March 2022, Neometals and Mercedes-Benz confirmed their plans for a battery recycling joint venture. Through the JV, the companies intend to build a 2,500-ton-per-year lithium-ion battery recycling plant in Germany.
n In November 2022, Li-Cycle Corp. has announced a strategic partnership with Vines Energy Solutions, a battery & cell pack manufacturer and a member company of Vingroup. Through this partnership, Li-Cycle provided its recycling solutions to Vines Energy Solutions
Key Questions Addressed by the Industrial Batteries Market Industry
• What is the key driver for the Industrial Batteries market?
o Growing adoption of lithium-ion batteries in renewable energy sector as a driving force for the Industrial Batteries market
• Which region is expected to register the highest CAGR in the Industrial Batteries Market during the forecast period?
o The Industrial Batteries Market in Asia Pacific is estimated to register the highest CAGR during the forecast period.
• What is the major source of EV battery?
o The passenger segment holds a prominent position in the Industrial Batteries market due to the widespread use of passenger cars and the increasing adoption of electric vehicles (EVs). As the demand for electric passenger cars continues to rise, the number of spent EV batteries from this segment also increases, driving the need for effective recycling solutions.
• Who are the major players of the Industrial Batteries market?
o The key players operating in the market include Glencore (Switzerland), GEM Co., Ltd. (China), ERAMET (France), Li-Cycle Corp (Canada), Umicore (Belgium).
• What is the total CAGR expected to record for the Industrial Batteries Market during 2024-2029?
o The market is expected to record a CAGR of 10.3 % from 2024-2029.
No comments:
Post a Comment