Dublin, Aug. 10, 2023 (GLOBE NEWSWIRE) -- The "Industrial Batteries - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Industrial Batteries Market to Reach $32.9 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Industrial Batteries estimated at US$22.5 Billion in the year 2022, is projected to reach a revised size of US$32.9 Billion by 2030, growing at a CAGR of 4.9% over the analysis period 2022-2030.
Lead-Acid, one of the segments analyzed in the report, is projected to record 5% CAGR and reach US$16.8 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Lithium-Based segment is readjusted to a revised 5.2% CAGR for the next 8-year period.
The U.S. Market is Estimated at $6 Billion, While China is Forecast to Grow at 7.4% CAGR
The Industrial Batteries market in the U.S. is estimated at US$6 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$7.2 Billion by the year 2030 trailing a CAGR of 7.4% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.6% and 4.5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 2.9% CAGR.
Report Overview
The global industrial batteries market has been analyzed for the past, current, and future scenarios, with a focus on various geographic regions, including the USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, the Middle East, and Africa.
The analysis encompasses different types of industrial batteries, such as lead-acid, lithium-based, and others, across various end-use industries like motive power, telecom & data communications, uninterruptible power supply (UPS)/backup, and grid-level energy storage.
The report projects substantial growth in industrial battery sales from 2022 to 2030, with a significant compound annual growth rate (CAGR). Key competitors in major markets like the USA, Japan, China, and Europe are identified.
Additionally, a 16-year perspective analysis highlights the percentage breakdown of value sales for various regions and battery types.
The report provides comprehensive insights into the industrial battery market's potential and key growth drivers across different regions and end-use industries.
As the demand for reliable and efficient energy storage solutions continues to rise, industrial batteries are expected to play a crucial role in supporting diverse applications, from motive power to grid-level energy storage and beyond.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
A selection of companies mentioned in this report includes
- C&D Technologies, Inc.
- East Penn Manufacturing Co., Inc.
- EnerSys, Inc.
- Exide Technologies
- GS Yuasa Corporation
- Johnson Controls, Inc.
- Northstar Battery Company LLC.
- Robert Bosch GmbH
- Saft Groupe SA
For more information about this report visit https://www.researchandmarkets.com/r/whsrjo
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