Growth Drivers of Industrial Battery Market 2016-26 Business Evaluation with Trends and Opportunities

The global industrial battery market is expected to reach USD 15.2 billion in 2026, growing at a CAGR of 6.5% during the forecast period.

Fremont, United States - September 12, 2019 /MarketersMedia/ —

Rising demand from energy storage and stationary applications and increasing demand for industrial batteries in end-user industries are expected to drive the growth of the industrial battery market.

The industrial battery has high battery capacity and used in industrial applications. The growing demand for electric substation and an increase in demand for lithium-ion batteries in end-user industries. This expected to enhance the production to meet the growing consumption of industrial battery over the forecast period.

GET FREE SAMPLE @ https://www.alltheresearch.com/sample-request/183

Rising renewable energy integration, declining lithium-ion battery prices, government subsidies and incentives for clean energy sources, and uninterruptable power supply is the main drivers for the market growth of the global industrial battery market over the forecast period. Furthermore, the demand for industrial batteries is expected to witness a significant growth over the forecast period due to surging electrification industry. Moreover, the uninterrupted electric energy in the developing countries and increase in demand for industrial battery from data centers and telecom companies is expected to enhance the market size. This also expected to open investment opportunities in the global market for the manufacturers in the coming years.

However, volatile prices of raw materials, stringent government regulations regarding use of toxic organic chemicals, and the risk of battery explosion are expected to hamper the growth of the global industrial battery market during the forecast period. Moreover, low power density and growing substitutes of the industrial battery such as chemical energy storage, compressed energy storage, pumped hydro technology are the prime challenges in the global industrial battery market throughout the forecast period.

Key Findings:

Based on type, the lead-acid segment is expected to dominate the market with nearly 37% share in the global industrial battery market in 2018
Based on application, the telecom & data communication segment accounts of the largest share in the market and is expected to grow at a CAGR of around 7.1% during the forecast period.
Asia-Pacific accounted for nearly 35% share of the global industrial battery market in 2018

Recent News:

In July 2018, BYD Co Ltd. inked partnership agreement with Changan Automobile to jointly manufacture electric vehicles batteries. This agreement helps the company for market development and new product development.
In May 2019, Samsung SDI Co showcased its new ESS product, a high-capacity 111Ah ESS battery cell, at ‘ees Europe 2019’ under the slogan "Energy for the Next" which means preparing the next generation of ESS with enhanced energy.
In September 2017, Panasonic Corporation started production of automotive lithium-ion batteries at a factory in Himeji, Hyogo Prefecture, and expanded its domestic production capacity owing to its increasing demand for such batteries.

FOR MORE CUSTOMIZATION VISIT https://www.alltheresearch.com/customization/183

ABOUT ALLTHERESEARCH:

AllTheResearch was formed with the aim of making market research a significant tool for managing breakthroughs in the industry. As a leading market research provider, the firm empowers its global clients with business-critical research solutions. The outcome of our study of numerous companies that rely on market research and consulting data for their decision-making made us realise, that it’s not just sheer data-points, but the right analysis that creates a difference.

 

Contact Info:
Name: Rohit B.
Email: Send Email
Organization: AllTheResearch
Address: 39180 Liberty Street Suite 110, Fremont, CA 94538, USA
Phone: 8886916870
Website: https://www.alltheresearch.com

Source URL: https://marketersmedia.com/growth-drivers-of-industrial-battery-market-2016-26-business-evaluation-with-trends-and-opportunities/88918272

Source: MarketersMedia

Release ID: 88918272

Latest News

Indonesian province shuts schools due to forest fire haze

Sep 21, 2019

JAKARTA, Indonesia — Authorities shut most schools in parts of Indonesia's Sumatra island to protect children from a thick, noxious haze as deliberately set fires burned through peatland forests, officials said Wednesday. Indonesia's Disaster Mitigation Agency said more than 3,600 fires have been detected on Sumatra and Borneo islands by weather satellites, leading to very poor air quality in six provinces with a combined population of more than 23 million. Nearly every year, Indonesian forest fires spread health-damaging haze across the country and into neighboring Malaysia and Singapore. Authorities have deployed more than 9,000 people to fight the fires, which...

Iran: Lifting US sanctions will help salvage nuclear deal

Sep 21, 2019

KUALA LUMPUR, Malaysia — Iranian Foreign Minister Mohammad Javad Zarif said Iran's supreme leader will not meet President Donald Trump unless Washington halts its "economic terrorism" that has hurt ordinary Iranians. Zarif said the removal of U.S. sanctions — which he described as a form of extortion, arm twisting and intimidation — could also help salvage the 2015 Iranian nuclear deal, which the U.S. unilaterally withdrew from last year. He said Tehran has the right to reduce its compliance under the nuclear pact after the U.S. left, but it can return to full implementation if the U.S. fulfils its commitment...

Indonesia to move capital from sinking Jakarta to Borneo

Sep 21, 2019

JAKARTA, Indonesia — Indonesia's president says the country's capital will move from overcrowded, sinking and polluted Jakarta to a site in sparsely populated East Kalimantan province on Borneo island, known for rainforests and orangutans. President Joko Widodo said Monday intense studies over the past three years had resulted in the choice of the location on the eastern side of Borneo island. The new capital city, which has not yet been named, will be in the middle of the vast archipelago nation and already has relatively complete infrastructure because it is near the cities of Balikpapan and Samarinda, Widodo said. He...

Judge postpones 2nd corruption trial of Malaysia's former PM

Sep 21, 2019

KUALA LUMPUR, Malaysia — The second trial of Malaysian's ex-Prime Minister Najib Razak linked to the multibillion-dollar looting of the 1MDB state investment fund was delayed Monday by a week to allow his first trial to end. Najib faces a total 42 charges of corruption, abuse of power and money laundering in five separate criminal cases brought since his shocking election defeat last year. Najib, 65, denies wrongdoing and accuses the new government under Prime Minister Mahathir Mohamad of seeking political vengeance. Chief prosecutor Gopal Sri Ram said the last witness in Najib's first trial is midway through testifying and...

Indonesia's leader says sinking Jakarta needs giant sea wall

Sep 21, 2019

JAKARTA, Indonesia — Indonesia's president said in an interview that he wants to see the speedy construction of a giant sea wall around Jakarta to prevent the low-lying capital from sinking under the sea, lending renewed backing and a sense of urgency to a slow-moving and politically contested mega project. President Joko Widodo and his government are up against a tight timetable, including a forecast by experts that at the current rate, one-third of Jakarta could be submerged by 2050. The existential crisis facing the city is the culmination of decades of unfettered development, almost nonexistent urban planning and misrule...

Penggerak pasaran mengikut TradingView

About Us

Duniaga is Malaysia’s top local source for business news and information where people head to stay connected with the business news. We give daily in-depth analysis on the business happenings in the country.

Contact us: sales[at]duniaga.com

Subscribe Now!