Need for Clean Energy Driving Industrial Batteries Market Forward

The growth of industrial batteries market is a given over the coming years and that too at a steady CAGR (Compound Annual Growth Rate), is attributable to a number of factors. This will not just chart and upward curve for the global industrial batteries market but also lead to new untapped opportunities, lucrative and growth oriented. It goes without saying that the market players would clamor to make the most of them.

Some of the prominent factors propelling growth in the global industrial batteries market include rise in use of electric vehicles, extensive demand for lithium ion battery operated gadgets and uninterrupted power supply.

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Besides, rising awareness regarding the environment is particularly helping the industrial batteries market as they provide governments looking for clean energy solutions the perfect answer to their woes. To add here the automobile demand is highly significant which will also see an upward curve owing to rising disposable incomes. And, here, ones run through batteries will be favored by a risingly woke population and government.

It is pertinent to note here that in another 30 years, demand for grid connected solutions for power supply would increase. By 2050, world population will be up by 2 billion to 9.7 billion. This is a steep rise from 7.7 billion now. And, this population would need uninterrupted power for homes, vehicles and seamless working of electronic gadgets and more.

Also, the telecom and data communication will see increased growth, leading to high demand generation in the industrial batteries market.

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The market landscape for industrial batteries is fragmented and prominent names include GS Yuasa Corporation, EnerSys Inc., Exide Technologies Inc., Johnson Controls, and Saft Groupe S.A. In order to keep a firm grasp over the market share and also keep an edge over competitors, players focus on constant product development and also resort to mergers and acquisitions.

Industrial Batteries Market: Innovation Drives Sales of Lithium Ion Batteries

The industrial batteries market is a competitive battle ground for two titans. These two main products in the market are lead acid batteries and lithium ion batteries. Lead acid batteries were extremely popular in a wide variety of applications earlier. These included electronics, automotive, forklifts, among others. However, lithium ion batteries are gaining increased prominence in the industrial batteries market. Its higher energy potential and rapid discharge rates are making it more useful for end-use industries. These batteries are increasingly used due to their relatively safe storage mechanism and energy regulations, especially when used with alternative sources of energy such as wind and solar.

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Additionally, the industrial batteries market players are investing resources to test the water by launching new product varieties. Currently, these include Lithium Manganese Oxide (LMO), Lithium Iron Phosphate (LiFePO4), Lithium Nickel Manganese Cobalt Oxide (NMC), and Lithium Titanate (LTO). Many players in the industrial batteries market are expected to benefit from this ongoing innovation.

Lead Acid Batteries Sales to Receive a Major Boost

Lead acid batteries are considered hazardous due to their ingredients such as sulfuric acid and lead. Hence, these are heavily regulated by the government. On the other hand, these batteries offer an ideal application for stationery purposes such as cell towers and data warehouses. Hence, recent developments in cloud technology, big data analytics, and 5G telecommunication technology are encouraging news for the market.

Most major technology giants in the world are competing for a larger share of the cloud. This includes Amazon, Google, Microsoft, IBM, etc. In order to store data and engage in data analytics, companies require large data storage centers. According to a recent report, Ireland is expected to attract US$8 bn in investments for data centers by 2021. In order to maintain Uniterrupted Power Supply (UPS) systems, lead batteries are considered ideal due to its large power to weight ratio and its extremely cheap cost. Datacenters as investments in many cases simply store user information. Hence, these facilities require cost-effective mechanisms.

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However, it is clear that sustainability drives and consequent legislations are making a bigger impact in the industrial batteries market than ever before.

Power Backup Needs to Bolster Uptake of Industrial Batteries

San Francisco, California, October 16, 2017: Growing need for grid-connected solutions to bolster uptake of grid-connected solutions, states TMR Research in a research report. The report is titled, “Industrial Batteries Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025.”

The worldwide market for industrial batteries is picking up footing from various elements, for instance, rising demand for grid-connected solutions for uninterruptable power supply, government motivating forces for clean vitality sources, developing reception of electric vehicles, and high prerequisite of lithium-ion batteries in different applications. Then again, security issues relating to battery use and high capital speculation are the two most unmistakable elements impeding the worldwide modern batteries showcase. All things considered, raising interest from telecom organizations and server farms is relied upon to open new open doors for the merchants of this market, furnished they adapt up to the coming of new advancements including compacted energy stockpiling, compound vitality stockpiling, and pumped hydro innovation. Expanding the power thickness of these batteries is another necessity for the organizations to overcome.

The global market for industrial batteries is anticipated to walk its way along the way of an enduring extension while spreading its essence to various parts. Telecom and information correspondence being the stallion end-client division is anticipated to secure a bigger offer in the worldwide market. A noteworthy piece of the demand in this area is prognosticated to assume responsibility while riding on the requirement for high-effective power reinforcement and rise in telecom development. High capital speculation and security issues could check the extension of the market however to a negligible degree. Howbeit, the taking off need of telecom organizations and datacenters for modern batteries, appropriation of fueled autos, and clean energy sources upheld by government motivators are imagined to give praiseworthy open doors.

In a modified shape, the production illuminates the invested individuals about the essential progression of the worldwide industrial batteries market, viz. industry-particular difficulties, openings, limitations, and drivers. It likewise deliberately profiles the imperative business players and breaks down the significant improvements saw on a focused stage. Aside from a succinct assessment of the aggressive scene, the report has remained for its exactness and convenience by concentrate the best market pioneers with SWOT investigation. It is very much routed to a scope of target groups of onlookers stretching out from makers to industry affiliations.

The worldwide market for industrial batteries could anticipate achieve a forcing income development on the back of a better than average CAGR. With reference to vitality thickness, modern batteries offer a prevalent execution which is called for by the end users in various divisions.

Despite the fact that the lead-acid section by type has been sitting at the pinnacle of the global market for industrial batteries, lithium-based industrial batteries are estimated to progress as a more quickly developing fragment sooner rather than later. On the grounds of their noteworthy properties, i.e. low outflow, recyclability, and long life, lithium-based batteries have been quickly embraced for various industrial applications. Applications which regard low support, temperature affectability, weight, and volume more critical than introductory cost have discovered extraordinary appropriateness for lithium-based batteries.

Region-wise, the global market for industrial batteries is likely to soar high in Asia Pacific and North America owing to support from the government to renewable energy resources and their modes of implementation. The core players in the market include Saft Groupe S.A., Johnson Controls, Exide Technologies Inc., EnerSys Inc., and GS Yuasa Corporation.

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