Summary

The Gel Battery market is expected to grow at a strong CAGR of around 5% during the forecast period owing to the increasing adoption in the telecommunication industry and medical industry along with the growing application in the electric vehicle, marine application, and industrial applications. Gel batteries are a type of sealed lead-acid battery that uses a gel electrolyte instead of a liquid electrolyte. They are designed to be maintenance-free, highly reliable, and have a longer lifespan compared to traditional lead-acid batteries. Energy storage systems that use gel batteries have gained popularity in recent years as reliable and cost-effective solutions for renewable energy adoption. These systems are typically used in off-grid applications, such as remote areas, where there is no access to a power grid or during power outages. They can also be used in on-grid applications to reduce peak demand and improve grid stability. One of the advantages of using gel batteries in energy storage systems is their ability to discharge at a high rate without damaging the battery. This makes them suitable for applications that require high power, such as electric vehicles, solar-powered homes, and backup power for critical infrastructure. Additionally, gel batteries have a longer lifespan than other battery types, such as lithium-ion batteries, making them more cost-effective in the long term.

Some of the major players operating in the market include Exide Technologies, JYC Battery Manufacturer Co. Ltd., Power Sonic Corporation, Canbat Technologies Inc., B.B. Battery, C&D Technologies, Inc., Leoch International Technology Limited Inc., Vision Group, BSB Power Company Limited, and Exponential Power. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst TYPE, the 12V segment held a dominating share of the market in 2021.”
Based on type, the market is segmented into 2V, 6V, and 12V. The 12V segment is expected to hold a significant market share during the forecast period. The demand for 12V Gel batteries has been growing in recent years due to their advantages over other battery types. These batteries are commonly used in a variety of applications, including renewable energy systems, backup power supplies, and recreational vehicles. The 12V Gel batteries are popular due to their maintenance-free operation, long lifespan, deep cycle performance, and safety features. As more people turn to renewable energy sources and require reliable backup power, the demand for 12V Gel batteries is expected to continue growing. Additionally, advancements in technology and increased manufacturing efficiency are making these batteries more affordable, further driving their demand.

“Amongst applications, the storage & distribution segment register significant CAGR during the forecast period.”
On the basis of application, the market is segmented into energy storage & distribution, electric mobility, telecommunication, and others. The storage & distribution segment is expected to register a higher CAGR during the forecast period owing to their superior performance and reliability compared to other types of batteries. Gel batteries use a gel electrolyte instead of a liquid one, which makes them more resistant to vibration and temperature changes. This makes them ideal for use in environments where traditional batteries cannot operate effectively.

“Asia-Pacific dominated the Gel Battery market in 2021.”
Asia-Pacific dominated the gel battery market in 2021. One of the key factors driving the demand for Gel batteries in Asia Pacific is the increasing adoption of renewable energy sources such as solar and wind power. Gel batteries are well-suited for use in these applications because they are able to provide a steady supply of power over an extended period of time. Furthermore, the increasing demand for electric vehicles (EVs) in the Asia Pacific is also driving the demand for Gel batteries. Gel batteries are commonly used in EVs because they are lightweight, have a high energy density, and can be charged and discharged quickly. As the adoption of EVs continues to increase in the region, the demand for Gel batteries is expected to rise as well.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global gel battery market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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