Summary

The industrial batteries market 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 market for industrial batteries is anticipated to expand at a modest rate due to factors including the growing use of lithium-ion batteries in the renewable energy sector and the continuous modernization of the grid, which is driving up demand for grid energy storage systems. The market expansion for industrial batteries is being hampered by the availability of inexpensive alternatives as well as problems with the storage and transportation of spent or used batteries.
“Lead-acid battery segment is estimated to lead the Industrial batteries market during the forecast period”
In terms of battery type, the lead-acid battery held the most market share for industrial batteries overall. lead-acid batteries have significant demand in cars. The batteries can be quickly charged and have a low rate of discharge. Another benefit these batteries have over conventional batteries is that they can withstand being overcharged. Lead-acid batteries have a 95% recyclable content. Lead-acid batteries have several benefits and can be recycled, which is why the market for them is always expanding.

“The stationary end-use industry is estimated to dominate the Industrial batteries market during the forecast period”
In terms of end-use industries, the Industrial batteries market as a whole is anticipated to lead by the stationary segment during the forecast period in terms of value. Applications for stationary industrial batteries include emergency power, telephony, UPS, and grid level systems. These batteries are shallow-cycle cells by nature, meant to be mostly kept near full charge for the duration of their lives, with sporadic deep discharges. Utilities as well as the commercial and residential sectors use these batteries in static applications.



“North America projected to account for the largest share in the Industrial batteries market during the forecast period”
Over the course of the forecast period, North America is anticipated to have the most share of the industrial batteries market. Installing and supplying industrial batteries-based energy storage systems is the primary emphasis of important firms in the region, including Tesla, Inc., ABB, General Electric, and Honeywell. The US Energy Information Administration reports that US power systems are gradually implementing large-scale industrial batteries. Lithium-ion batteries accounted for largest share of US industrial battery power capacity and the country is expected to account for a significant market share in the near future as it is home to various players.

Profile break-up of primary participants for the report:
• By Company Type: Tier 1 – 65%, Tier 2 – 20%, and Tier 3 – 15%
• By Designation: C-level– 25%, Director Level– 30%, and Others – 45%
• By RegionD: North America – 30%, Europe – 20%, Asia Pacific – 40%, Middle East & Africa 7%, and South America 3%.

C&D Technologies, Inc. (US), Enersys (US), GS Yuasa International Ltd. (Japan), Exide Industries Ltd. (India), East Penn Manufacturing Company (US), Crown Batteries (US), Samsung SDI Co., Ltd. (South Korea), Leoch International Technology Limited Inc (China), LG Chem (South Korea), are some of the major players operating in the industrial batteries market. These players have adopted strategies such as agreement, partnerships, expansions, and acquisitions in order to increase their market share business revenue.
Research Coverage:
The report defines, segments, and projects the industrial batteries market based on battery type, end-use industry, and region. It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and challenges. It strategically profiles, Industrial batteries manufacturers and comprehensively analyses their market shares and core competencies as well as tracks and analyzes competitive developments, such as expansions, joint ventures, agreements, and acquisitions, undertaken by them in the market.
Reasons to Buy the Report:
The report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the Industrial batteries Market and its segments. This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses, and make suitable go-to-market strategies. It also enables stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:
• Analysis of key drivers (increasing demand for grid energy storage systems owing to ongoing grid modernization, and rising adoption of lithium-ion batteries in renewable energy sector), restraints (availability of low cost substitutes, and issues related to transportation and storage of used or spent batteries), opportunities (advancement in telecommunication sector, and increasing battery innovation initiatives by established players), and challenges (limited usage and overheating issues of industrial batteries, and disruptions in supply chain due to Covid-19 pandemic) influencing the growth of the Industrial batteries Market.

• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities in the Industrial batteries Market.

• Market Development: Comprehensive information about lucrative markets – the report analyses the Industrial batteries Market across varied regions.

• Market Diversification: Exhaustive information about new products, various types, untapped geographies, recent developments, and investments in the Industrial batteries Market.

• Competitive Assessment: In-depth assessment of market shares, growth strategies and product offerings of leading players such as Enersys (US), C&D Technologies, Inc. (US), GS Yuasa International Ltd. (Japan), Exide Industries Ltd. (India), Leoch International Technology Limited Inc (China) and others in the Industrial batteries Market.

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Table of Contents

1 INTRODUCTION 23
1.1 STUDY OBJECTIVES 23
1.2 COMPETITIVE INTELLIGENCE 23
1.3 MARKET DEFINITION 24
1.3.1 INCLUSIONS AND EXCLUSIONS 24
1.4 MARKET SCOPE 24
1.4.1 REGIONAL SCOPE 25
1.4.2 YEARS CONSIDERED 25
1.4.3 CURRENCY CONSIDERED 26
1.5 LIMITATIONS 26
1.6 STAKEHOLDERS 26
1.7 SUMMARY OF CHANGES 27
2 RESEARCH METHODOLOGY 28
2.1 RESEARCH DATA 28
2.1.1 SECONDARY DATA 29
2.1.1.1 Key data from secondary sources 29
2.1.2 PRIMARY DATA 29
2.1.2.1 Key data from primary sources 30
2.1.2.2 Breakdown of primary interviews 30
2.2 MATRIX CONSIDERED FOR DEMAND-SIDE ANALYSIS 31
2.3 MARKET SIZE ESTIMATION 31
2.3.1 BOTTOM-UP APPROACH 32
2.3.2 TOP-DOWN APPROACH 32
2.3.2.1 Calculations for supply-side analysis 34
2.4 GROWTH RATE ASSUMPTIONS/GROWTH FORECAST 34
2.5 DATA TRIANGULATION 35
2.6 IMPACT OF RECESSION 36
2.7 KEY ASSUMPTIONS WHILE CALCULATING DEMAND- SIDE MARKET SIZE 36
2.8 RESEARCH LIMITATIONS 36
2.9 RISK ANALYSIS 37
3 EXECUTIVE SUMMARY 38
4 PREMIUM INSIGHTS 41
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN INDUSTRIAL BATTERIES MARKET 41
4.2 INDUSTRIAL BATTERIES MARKET, BY REGION 41
4.3 INDUSTRIAL BATTERIES MARKET, BY MAJOR COUNTRIES 42
5 MARKET OVERVIEW 43
5.1 INTRODUCTION 43
5.2 MARKET DYNAMICS 43
5.2.1 DRIVERS 44
5.2.1.1 Rising adoption of lithium-ion batteries in renewable energy sector 44
5.2.1.2 Increasing demand for grid energy storage systems owing to ongoing grid modernization 45
5.2.2 RESTRAINTS 46
5.2.2.1 Availability of low-cost substitutes 46
5.2.2.2 Issues related to transportation and storage of used or spent batteries 46
5.2.3 OPPORTUNITIES 46
5.2.3.1 Advancements in telecommunications sector 46
5.2.3.2 Increasing battery innovation initiatives by established players 47
5.2.4 CHALLENGES 47
5.2.4.1 Limited usage and overheating 47
5.3 PORTER’S FIVE FORCES ANALYSIS 48
5.3.1 BARGAINING POWER OF SUPPLIERS 48
5.3.2 BARGAINING POWER OF BUYERS 49
5.3.3 THREAT OF NEW ENTRANTS 49
5.3.4 THREAT OF SUBSTITUTES 49
5.3.5 INTENSITY OF COMPETITIVE RIVALRY 49
6 INDUSTRY TRENDS 51
6.1 VALUE CHAIN ANALYSIS 51
6.2 ECOSYSTEM ANALYSIS 52
6.3 PRICING ANALYSIS 53
6.3.1 AVERAGE SELLING PRICE OF LITHIUM-ION BATTERIES, BY REGION 53
6.3.2 AVERAGE SELLING PRICE OF LITHIUM-ION BATTERIES, BY CHEMISTRY 54
6.4 TARIFF AND REGULATORY LANDSCAPE 54
6.4.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 55
6.5 KEY CONFERENCES AND EVENTS 57
6.6 KEY STAKEHOLDERS AND BUYING CRITERIA 59
6.6.1 KEY STAKEHOLDERS IN BUYING PROCESS 59
6.6.2 BUYING CRITERIA 60
6.7 PATENT ANALYSIS 61
6.7.1 METHODOLOGY 61
6.7.2 MAJOR PATENTS 62
6.8 CASE STUDY ANALYSIS 63
6.8.1 GRID-CONNECTED LITHIUM-ION BATTERY ENERGY STORAGE SYSTEM BY NEXCHARGE AND TATA POWER DELHI DISTRIBUTION 63
6.8.2 DEPLOYMENT OF OFF-GRID BATTERY ENERGY STORAGE SYSTEMS FOR RENEWABLE ENERGY PROJECT 63
6.9 TECHNOLOGY ANALYSIS 63
6.9.1 KEY TECHNOLOGIES 64
6.9.1.1 Lithium metal battery 64
6.9.1.2 Sodium-sulfur batteries 64
6.9.1.3 Metal-air batteries 64
6.9.1.4 Liquid-metal batteries 64
6.9.2 ADJACENT TECHNOLOGIES 65
6.9.2.1 Modern off-grid technology 65
6.10 TRADE ANALYSIS 65
6.10.1 IMPORT DATA 65
6.10.2 EXPORT DATA 66
6.11 TRENDS/ DISRUPTIONS IMPACTING CUSTOMER BUSINESS 66
6.12 INVESTMENT AND FUNDING SCENARIO 67
7 INDUSTRIAL BATTERIES MARKET, BY BATTERY TYPE 68
7.1 INTRODUCTION 69
7.2 LEAD-ACID 70
7.2.1 INCREASING ADOPTION IN GRID ENERGY STORAGE TO DRIVE GROWTH 70
7.3 LITHIUM-ION 73
7.3.1 DECREASE IN PRICES TO DRIVE GROWTH 73
7.4 OTHERS 77
8 INDUSTRIAL BATTERIES MARKET, BY END-USE INDUSTRY 81
8.1 INTRODUCTION 82
8.2 STATIONARY BATTERY 83
8.2.1 INCREASING GRID-LEVEL APPLICATIONS TO DRIVE GROWTH 83
8.2.2 TELECOMMUNICATIONS 84
8.2.3 UNINTERRUPTIBLE POWER SUPPLY 85
8.2.4 GRID LEVEL 85
8.3 MOTIVE BATTERY 85
8.3.1 EFFICIENT STORAGE OF ELECTRICITY FROM RENEWABLE ENERGY SOURCES TO DRIVE GROWTH 85
8.3.2 LOW-SPEED ELECTRIC VEHICLE 87
8.3.3 FLOOR SCRUBBER 88
8.3.4 MATERIAL HANDLING 88
8.3.5 MARINE 88
8.3.6 RECREATIONAL VEHICLE 88
 
9 INDUSTRIAL BATTERIES MARKET, BY REGION 89
9.1 INTRODUCTION 90
9.2 NORTH AMERICA 92
9.2.1 US 95
9.2.1.1 Increasing demand for batteries in grid-level energy storage to drive growth 95
9.2.2 CANADA 96
9.2.2.1 Innovations in grid-connected solutions to drive growth 96
9.2.3 MEXICO 97
9.2.3.1 Expansion of domestic automotive sector to drive growth 97
9.3 ASIA PACIFIC 98
9.3.1 CHINA 101
9.3.1.1 Increasing production of electric vehicles to drive growth 101
9.3.2 JAPAN 102
9.3.2.1 Expansion of R&D resources by battery giants to drive growth 102
9.3.3 INDIA 103
9.3.3.1 Rising adoption of electric vehicles to drive growth 103
9.3.4 REST OF ASIA PACIFIC 104
9.4 EUROPE 105
9.4.1 GERMANY 108
9.4.1.1 Increasing expansion of residential energy storage sector to drive growth 108
9.4.2 UK 109
9.4.2.1 Investments in lithium-ion battery materials for electric vehicles to drive growth 109
9.4.3 FRANCE 110
9.4.3.1 Diversified electricity production goals to drive growth 110
9.4.4 REST OF EUROPE 111
9.5 MIDDLE EAST & AFRICA 112
9.5.1 GCC 115
9.5.1.1 Saudi Arabia 115
9.5.1.1.1 Government initiatives toward renewable energy sector to drive growth 115
9.5.1.2 UAE 115
9.5.1.2.1 Development of telecom & data communications sector to drive growth 115
9.5.2 SOUTH AFRICA 116
9.5.2.1 Rising demand for portable devices to drive growth 116
9.5.3 REST OF MIDDLE EAST & AFRICA 117
 
9.6 SOUTH AMERICA 118
9.6.1 BRAZIL 121
9.6.1.1 Rising demand for consumer and automotive batteries to drive growth 121
9.6.2 REST OF SOUTH AMERICA 121
10 COMPETITIVE LANDSCAPE 123
10.1 INTRODUCTION 123
10.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 123
10.2.1 OVERVIEW OF STRATEGIES ADOPTED BY KEY MARKET PLAYERS 123
10.3 REVENUE ANALYSIS 124
10.4 MARKET SHARE ANALYSIS 125
10.4.1 MARKET RANKING ANALYSIS 126
10.4.1.1 EnerSys. (US) 126
10.4.1.2 GS Yuasa International Ltd. (Japan) 126
10.4.1.3 Leoch International Technology Limited Inc (China) 127
10.4.1.4 Exide Industries Ltd. (India) 127
10.4.1.5 C&D Technologies, Inc. (US) 127
10.5 BRAND/PRODUCT COMPARISON 128
10.5.1 DATASAFE XE BATTERIES 128
10.5.2 LCT-HP FLOODED BATTERY 128
10.5.3 NP SERIES 128
10.5.4 EXIDE POWERSAFE EHP 128
10.5.5 PU UPS SHORT-TIME BACKUP POWER SERIES 128
10.6 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 129
10.6.1 STARS 129
10.6.2 EMERGING LEADERS 129
10.6.3 PERVASIVE PLAYERS 129
10.6.4 PARTICIPANTS 129
10.6.5 COMPANY FOOTPRINT 131
10.7 COMPANY EVALUATION MATRIX: START-UP/SMES, 2023 135
10.7.1 PROGRESSIVE COMPANIES 135
10.7.2 RESPONSIVE COMPANIES 135
10.7.3 DYNAMIC COMPANIES 135
10.7.4 STARTING BLOCKS 135
10.7.5 COMPETITIVE BENCHMARKING 137
10.8 COMPANY VALUATION AND FINANCIAL METRICS 138
10.9 COMPETITIVE SCENARIOS AND TRENDS 139
10.9.1 PRODUCT LAUNCHES 139
10.9.2 DEALS 140
 
11 COMPANY PROFILES 142
11.1 MAJOR PLAYERS 142
11.1.1 ENERSYS. 142
11.1.1.1 Business overview 142
11.1.1.2 Products offered 143
11.1.1.3 MnM view 145
11.1.1.3.1 Right to win 145
11.1.1.3.2 Strategic choices 145
11.1.1.3.3 Weaknesses and competitive threats 145
11.1.2 C&D TECHNOLOGIES, INC. 146
11.1.2.1 Business overview 146
11.1.2.2 Products offered 146
11.1.2.3 Recent developments 150
11.1.2.4 MnM view 151
11.1.2.4.1 Right to Win 151
11.1.2.4.2 Strategic choices 151
11.1.2.4.3 Weaknesses and competitive threats 151
11.1.3 GS YUASA INTERNATIONAL LTD. 152
11.1.3.1 Business overview 152
11.1.3.2 Products offered 153
11.1.3.3 MnM view 157
11.1.3.3.1 Right to Win 157
11.1.3.3.2 Strategic choices 157
11.1.3.3.3 Weaknesses and competitive threats 157
11.1.4 EXIDE INDUSTRIES LTD. 158
11.1.4.1 Business overview 158
11.1.4.2 Products offered 159
11.1.4.3 MnM view 164
11.1.4.3.1 Right to win 164
11.1.4.3.2 Strategic choices 164
11.1.4.3.3 Weaknesses and competitive threats 164
11.1.5 LEOCH INTERNATIONAL TECHNOLOGY LIMITED INC 165
11.1.5.1 Business overview 165
11.1.5.2 Products offered 166
11.1.5.3 Recent developments 174
11.1.5.4 MnM view 175
11.1.5.4.1 Right to Win 175
11.1.5.4.2 Strategic choices 175
11.1.5.4.3 Weaknesses and competitive threats 175
 
11.1.6 CROWN BATTERY 176
11.1.6.1 Business overview 176
11.1.6.2 Products offered 176
11.1.7 EAST PENN MANUFACTURING COMPANY 178
11.1.7.1 Business overview 178
11.1.7.2 Products offered 178
11.1.8 SAMSUNG SDI CO., LTD. 181
11.1.8.1 Business overview 181
11.1.8.2 Products offered 182
11.1.9 SK INNOVATION CO., LTD 184
11.1.9.1 Business overview 184
11.1.9.2 Products offered 185
11.1.10 NARADA POWER 186
11.1.10.1 Business overview 186
11.1.10.2 Products offered 186
11.1.10.3 Recent developments 190
11.1.11 VISION GROUP 191
11.1.11.1 Business overview 191
11.1.11.2 Products offered 191
11.1.12 LG CHEM 195
11.1.12.1 Business overview 195
11.1.12.2 Products offered 196
11.1.12.3 Recent developments 197
11.1.13 YUASA BATTERY (THAILAND) PUBLIC COMPANY LTD. 198
11.1.13.1 Business overview 198
11.1.13.2 Products offered 200
11.1.14 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED 201
11.1.14.1 Business overview 201
11.1.14.2 Products offered 202
11.1.14.3 Recent developments 203
11.1.15 HOPPECKE BATTERIEN GMBH & CO. KG 205
11.1.15.1 Business overview 205
11.1.15.2 Products offered 205
11.1.15.3 Recent developments 207
11.1.15.3.1 Others 207
11.1.15.3.2 Deals 207
11.1.16 THE SUNLIGHT GROUP 208
11.1.16.1 Business overview 208
11.1.16.2 Products offered 208
11.1.16.3 Recent developments 211
11.1.16.3.1 Product launches 211
11.1.16.3.2 Deals 211
11.1.17 TAB 212
11.1.17.1 Business overview 212
11.1.17.2 Products offered 212
11.1.17.3 Recent developments 213
11.1.17.3.1 Deals 213
11.1.18 RITAR INTERNATIONAL GROUP 214
11.1.18.1 Business overview 214
11.1.18.2 Products offered 214
11.1.18.3 Recent developments 216
11.1.19 U.S. BATTERY 217
11.1.19.1 Business overview 217
11.1.19.2 Products offered 217
11.1.19.3 Recent developments 218
11.1.19.3.1 Product launches 218
11.1.19.3.2 Deals 218
11.1.20 AMARA RAJA ENERGY & MOBILITY LIMITED 219
11.1.20.1 Business overview 219
11.1.20.2 Products offered 220
11.1.20.3 Recent developments 222
11.1.21 IPOWER BATTERIES 223
11.1.21.1 Business overview 223
11.1.21.2 Products offered 223
11.1.21.3 Recent developments 224
11.1.21.3.1 Product launches 224
11.1.21.3.2 Deals 224
11.1.22 JYC BATTERY MANUFACTURER CO., LTD 225
11.1.22.1 Business overview 225
11.1.22.2 Products offered 225
11.1.22.3 Recent developments 226
11.1.22.3.1 Product launches 226
11.2 OTHER PLAYERS 227
11.2.1 AMARON BATTERIES 227
11.2.2 SAFT GROUPE 227
11.2.2.1 Recent developments 229
11.2.3 ROLLS BATTERY 230
11.2.4 VICTRON ENERGY 231
11.2.5 NORTHVOLT AB 232
11.2.5.1 Recent developments 232
 
12 ADJACENT AND RELATED MARKETS 233
12.1 INTRODUCTION 233
12.2 LIMITATIONS 233
12.3 INTERCONNECTED MARKETS 233
12.4 LITHIUM-ION BATTERY MARKET 233
12.4.1 MARKET DEFINITION 233
12.4.2 MARKET OVERVIEW 233
12.4.3 LITHIUM-ION BATTERY MARKET, BY VOLTAGE 234
12.4.3.1 Low voltage 234
12.4.3.2 Medium voltage 235
12.4.3.3 High voltage 235
13 APPENDIX 236
13.1 DISCUSSION GUIDE 236
13.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 238
13.3 CUSTOMIZATION OPTIONS 240
13.4 RELATED REPORTS 240
13.5 AUTHOR DETAILS 241