Pune, April 28, 2021 (GLOBE NEWSWIRE) -- Global Gel Battery Market Overview
The global gel battery market size can touch USD 2.7 billion by 2027, according to the latest report by Market Research Future (MRFR). It is set to display a stupendous CAGR of 4.50% over the forecast period (2020-2027). This is attributed to use of lead gel batteries in motorcycles, phones, uninterrupted power supply, and other equipment. Gel batteries, also known as valve regulated lead-acid (VRLA) batteries, are lead acid batteries that contain a limited amount of electrolytes formed into a gel. This is ensured to supply a steady flow of oxygen within the battery.
The market is set to make a huge impact on the basis of demand owing to large discharge rates required in solar panels and a large lifespan. The long lifespan owing to its heat transfer of batteries coupled with its functioning at high ambient temperatures. Investments in clean energy are bound to drive the market demand significantly over the forecast period owing to renewable energy targets by governments. Presence of energy storage system manufacturers can drive its demand. Moreover, establishment of data centers for handling large volume of traffic and latency speeds of data transfer can bode well for the market. Gel batteries can be used in supplying power to these equipment and reduce its reliance on fossil fuels.
But availability of alternative sources such as lithium-ion can hamper the market demand in the coming years.
Get Free Sample PDF Brochure:
https://www.marketresearchfuture.com/sample_request/10456
COVID-19 Impact:
The COVID-19 pandemic has badly hit the industry owing to a dip in demand for batteries and shutdown of production facilities worldwide. Manufacturers were able to reverse the situation slowly due to ease in restrictions on part of government authorities. During the pandemic, gel battery manufacturers have formed an alliance for funding innovative projects to sustain the battery life and have a large socio-cultural impact. Push for digitalization and increased demand of cobalt, aluminum, and copper are likely to drive the market demand.
Industry Trends:
Sustainable production of batteries is the theme of battery manufacturers. Accelerated demand of materials and ramped up production of facilities has led to consumption of large volumes of energy. Gel battery manufacturers are focusing their efforts of future energy storage systems such as data centers, hybrid vehicles, and uninterrupted power supply machines to recover from the coronavirus. For instance, the Eurasian Resources Group has joined the Global Battery Alliance to improve the recycling rate of battery as well as its corrosion resistance. It has also joined the Terra Carta, a new initiative by the Prince of Wales, to provide a framework for a recovery plan from the pandemic.
Segmentation:
By application, the global gel battery market has been segmented into telecommunication, electric mobility, energy storage & distribution, and others. The electric mobility subsegment is expected to dominate the global gel battery market. This is due to heightened investments by manufacturers in the U.S. and China. Furthermore, the growing demand for electric vehicle batteries is highly influenced by the increasing fuel costs and environmental concerns among governments of Singapore, the U.S., Germany, Norway, and Japan as well as in developing countries such as China and India. Governments have been encouraging users to minimize fuel consumption through environmental credits and awareness programs.
By type, the gel battery market is segmented into 2V, 6V, and 12V. The 2V gel battery is expected to gain steam over the forecast period due to huge demand for UPS in residential settings. Frequent power outages and rise of work from home can drive its demand significantly.
Browse In-depth Market Research Report (111 pages) on Gel Battery:
https://www.marketresearchfuture.com/reports/gel-battery-market-10456
Regional Segmentation:
The gel battery market report covers regions of North America, South America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
APAC is expected to dominate the global market owing to investments in electric vehicles and rise of electric mobility. Rise of battery recharging sites and growing number of battery manufacturers can push the regional market demand. This is exemplified by the collaboration between countries for lowering emission rates. India and Japan had collaborated on a zero-emission vehicle in 2018. Government policies that mandate the inclusion of gel batteries in hybrid vehicles can bode well for the market.
Europe is projected to capture a large market share in the coming years owing to renewable energy targets set by countries in the European Union. Development of autonomous underwater vehicles (AUVs) for unmanned explorations can evoke the need for gel batteries with a high capacity. For instance, Kraken has developed a pressure tolerant gel encapsulation technology for its lithium batteries. The increased mission duration periods and large coverage rate for exploration missions can drive the demand for gel batteries.
Competitive Analysis:
The gel battery market is experiencing several strategical implementations such as expansion, collaboration, mergers, and acquisitions. Collaborations and product improvements are the primary focus of players aiming to control a larger share of the market. Improvements in solar panels and other energy storage systems can be of prime advantage to the players in the coming years.
Key players involved in the market are Storage Battery Systems, LLC., Exide Technologies, Power Sonic Corporation, Vision Group, B.B.Tech (Changsha) Co., Ltd., Leoch International Technology Limited Inc., C&D Technologies Inc., Leoch International Technology Ltd., BSB Power Company Limited, JYC Battery Manufacturing Co. Ltd., Canbat Technologies Inc., and others.
Share Your Queries:
https://www.marketresearchfuture.com/enquiry/10456
Industry News
Exide Technologies and EDP Group have collaborated on a gel battery to be used by the Castanheira do Ribatejoat municipality in Portugal. It has a capacity of 500kWH storage and offers protection against deep discharge. The batteries are used for storing solar power and aims to supply power to over 1500 homes.
Renewable Energy Schemes to Charge Global Gel Battery Market Demand
The global gel battery market is deemed to perform exceptionally in light of rising emissions and efforts made by governments to lower carbon emissions and conserve energy. Gel batteries are starting, lighting, and ignition batteries that are commonly used in cars to regulate the internal engine and ambient temperature of cars. Its recharge nature and long lifespan in comparison to absorbent glass mat battery can drive its demand significantly. Race between energy storage system manufacturers can be of prime advantage of gel battery producers and contribute to overall market demand.
Discover More Research Reports on Energy and Power Industry, By Market Research Future
Browse Related Reports:
Global Battery Storage Inverter Market Research Report: Information by Type (Single-Phase Electric Power and Three-Phase Electric Power), Application (Utility-Scale, Commercial and Residential) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2025
Global Submarine Battery Market Research Report: Information by Type (Valve-regulated Lead Acid Batteries, Flooded Lead Acid Batteries, and others), Application (Civil and Military) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2025
Global Aircraft Battery Market Research Report: By Battery Type (Lead Acid Battery, Lithium-Ion Battery, Nickel-Cadmium Battery, and others), Technology (Traditional Aircraft, More Electric Aircraft, Hybrid Aircraft, and Electric Aircraft), Aircraft Type (Commercial Aviation, Military Aviation and Unmanned Aerial Vehicles [UAV]), Application (Propulsion, Emergency, Auxiliary Power Unit (APU) and others) - Forecast till 2025
Global Marine Battery Market Report, by Type (Valve-regulated Lead Acid (VRLA) Batteries, Flooded Lead Acid Batteries and others), Application (Marine Starting Service, Deep Cycle Service and Dual-Purpose Service), Ship Type (Commercial and Defense) and Region - Forecast till 2026
Lead Acid Battery Market: By Product (Stationary, Motive, SLI), Construction Method (VRLA (valve-regulated lead-acid) and flooded), By End-User (Stationary Industrial, Automotive, Telecommunication, Transportation, Oil & Gas, Electronics and Others) – Global Forecast till 2023
Global Battery Separator Market: Information by Material (Polyethylene, Polypropylene, Ceramic), Battery Type (Li-ion, Lead Acid, Nickel-Cadmium, Nickel -Metal Hydride), End-Use Industry (Automotive, Consumer Electronics), and Region—Forecast till 2024
Global Battery Materials Market: Information by Type (Cathode, Anode, Electrolyte, Separator and Others), Batter Type (Lithium-Ion, Lead-Acid, Nickel Metal Hydride (NiMH), Nickel Cadmium (Ni-Cd) and Others), Application (Portable Devices, Automotive, Electronics Items, Power Storages and Others) and Region (North America, Europe, Asia-Pacific, Latin America and Middle East & Africa) - Forecast Till 2025
Cordless Phone Battery Market Research Report, By Type (Nickel Metal Hydride (NiMH), Nickel Cadmium (NiCad), Lithium ion (Li-ion)), Capacity (300-600mAh, 650-1200mAh), Application(Automobiles, Consumer electronics, Medical equipment) — Forecast till 2023
Global Micro Battery Market Research Report Information: by Component (Electrodes, Electrolytes, Substrates, Current Collectors and others), Type (Thin Film Battery, Printed Battery, Solid State Chip Battery), Product (Primary Battery and Secondary Battery), Capacity (Below 10 mAh, Between 10 mAh to 100 mAh and Above 100 mAh), Application (Consumer Electronics, Medical Devices, Smart Packaging, Smart Cards, Wearable Devices and others) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2025
Global Solid-State Battery Market Research Report Information: by Type (Portable Battery, Thin-film Battery and others), Capacity (Less than 20 mAH, 20 mAH – 300 mAH, 301 mAH – 500 mAH and Above 500 mAH ), Application (Electric Vehicles, Electronics, Medical Devices, Wearable Devices, Smart Cards and others) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) – Forecast till 2025
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.