Industrial Battery Market Growth and Forecast by 2027

Historic Data: 2017-2018   |   Base Year: 2019   |   Forecast Period: 2020-2027

Industrial Battery Market to 2027 - Global Analysis and Forecasts by Type (Lead-acid Batteries, Lithium-based Batteries, Nickel-based Batteries, Others); Application (Telecom & Data Communication, Industrial Equipment, Uninterruptible Power Supply (Ups)/Backup, Mining, Marine, Others)

  • Report Date : Mar 2020
  • Report Code : TIPRE00009682
  • Category : Manufacturing and Construction
  • Status : Published
  • Available Report Formats : pdf-format excel-format
  • No. of Pages : 164

The industrial battery market was valued at US$ 12,501.9 Mn in 2019 and is expected to grow at a CAGR of 7.3% from 2020 to 2027 to reach US$ 21,893.5 Mn by 2027.

  

Industrial batteries are specially designed batteries that can operate under harsh industrial temperatures such as extreme temperatures, more vibrations, and heavy use. Industrial batteries perform batter and are designed to be more powerful. In the present market scenario, the companies are rigorously working towards the development of highly efficient batteries that caters to the varying industrial battery needs. The global industrial battery market is anticipated to witness impressive growth during the forecast period. The demand for Lithium-based batteries is expected to grow significantly during the forecast period. The adoption of Lithium batteries is expected to grow across various verticals owing to the advantages offered by it, such as low emissions, increased lifecycle, and recyclability. The companies operating in the market are focusing on the development of new products to gain a strong customer base and achieve a significant market share.   

The Government in North American countries, such as the U.S. are taking continuous steps to enhance the productivity of the manufacturing industry. Such as providing the latest technologies for easing the process of manufacturing and increasing the number of warehouses. The use of automated technologies in these warehouses is anticipated to influence the growth of the industrial battery market in North America. The increased spending by government leads towards the development of any technology. In the North American region, the government spending on technology advance activities is quite high, which makes climate favorable for any business to blossom. IoT, Big Data, and advance technologies have witnessed high adoptions in this region. These technologies, in turn, fuel the requirements of the enhanced network as well as the demand for industrial battery. Few emerging technologies in the industrial battery market are new generation lithium-ion (Li-ion) batteries, lithium-sulfur batteries, solid-state batteries, aluminium-ion batteries, etc.   

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Industrial Battery Market: Strategic Insights

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Market Insights

Grid-connected solutions for uninterruptable power supply drives the demand for industrial battery  

The most prominent and essential types of renewable energy sources are solar and wind that are stored in the grid. However, the covering of the sun by clouds or fluctuations in the wind current might lead to variations in the process of energy generation. Such changes create a need for flexible grid systems for energy storage. Industrial battery energy storage systems help the grid operators to save electricity when the quantity of power exceeds the demand for electricity. Thus, the increased adoption of these systems helps in improving the reliability and flexibility of the electricity supply system with respect to generation, transmission, and distribution activities. During transmission and distribution, battery energy storage systems handle various aspects such as asset deferral, harmonic suppression, voltage support, frequency regulation, and power quality. Electric energy time-shift, renewable energy time-shift, baseload levelling, and peak shaving, and renewables capacity firming are the other benefits of using battery energy storage systems for grid-connected solutions, which drive the adoption of these systems, thus fuelling the growth of the industrial battery market. The market players are coming up with new grid solutions for maintaining a competitive edge in the industrial battery market. For instance, Siemens offers SIESTORAGE, an intelligent grid solution. SIESTORAGE is capable of overcoming the challenges phased during the three main aspects of power supply, i.e., optimizing grid connections, providing elastic energy for modern grids, and supporting large energy consumers. Further, in July 2015, EDP Distribuicao offered Storage InovGrid tender to Siemens’s SIESTORAGE in Évora (Portugal). The SIESTORAGE system provides services such as voltage regulation, energy back-up, and peak shaving in EDP’s grid stability, and replicates the benefits of intelligent grids to the grid operators.   

Type Insights

In type segment, Lead-acid batteries captured the largest share in the global industrial battery market. The lead-acid battery has a low-cost and gives high performance, these can be easily recycled, and they are simple to charge. The deployment of lead-acid battery is wide owing to its low cost and long service life. However, the battery would not be suitable for a sustained high load; also, it has a relatively lower volumetric energy density, which makes their deployment slightly unfeasible for energy management applications; hence it is mainly used for power applications. Advancements of this battery are still on the track, which could allow it to become a more feasible option for the energy management.   

 

Application Insights

The industrial battery market, by application, is segmented into telecom & data communication, industrial equipment, uninterruptible power supply (Ups)/Backup, mining, marine, and others. The industrial equipment segment captured dominating share in the global industrial battery market. The growing industry 4.0 trends, such as IoT, Artificial Intelligence (AI), big data analysis, networked communications, cloud computing, and machine learning technologies, marking a substantial change in the way businesses work and how they engage with their customers. Such growing technologies are offering innovative industrial equipment solutions that support the production and delivery of efficient equipment.    

Merger & acquisition strategy is commonly adopted by companies to expand their footprint worldwide and meet the growing demand. This strategy is mostly observed in North America and Europe. The players present in the Industrial Battery market adopt the strategy of expansion and investment in research and development to enlarge customer base across the world, which also permits the players to maintain their brand name globally. Few of the recent acquisitions are listed below;

2019:East Penn announced acquisition of majority interest in Navitas Systems. This acquisition is expected to support the expansion of Motive Power Battery offering.   
2019:Saft announced the acquisition of 100 % of the shares of Go Electric Inc., a US-based developer of distributed energy resiliency solutions for micro grids and Commercial & Industrial customers.  

Industrial Battery Market Regional Insights

The regional trends and factors influencing the Industrial Battery Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Industrial Battery Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

industrial-battery-market-global-geography
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Industrial Battery Market Report Scope

Report Attribute Details
Market size in 2019 US$ 12.5 Billion
Market Size by 2027 US$ 21.89 Billion
Global CAGR (2019 - 2027) 7.3%
Historical Data 2017-2018
Forecast period 2020-2027
Segments Covered By Type
  • Lead-acid Batteries
  • Lithium-based Batteries
  • Nickel-based Batteries
By Application
  • Telecom & Data Communication
  • Industrial Equipment
  • Uninterruptible Power Supply/Backup
  • Mining
  • Marine
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • C&D Technologies, Inc.
  • East Penn Manufacturing Company
  • EnerSys
  • Exide Industries Limited
  • General Electric Company
  • GS Yuasa International Ltd.
  • LG Chem
  • Panasonic Corporation
  • Robert Bosch GmbH

  • Industrial Battery Market Players Density: Understanding Its Impact on Business Dynamics

    The Industrial Battery Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

    Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

    Major Companies operating in the Industrial Battery Market are:

    1. C&D Technologies, Inc.
    2. East Penn Manufacturing Company
    3. EnerSys
    4. Exide Industries Limited
    5. General Electric Company

    Disclaimer: The companies listed above are not ranked in any particular order.


    industrial-battery-market-cagr

    • Get the Industrial Battery Market top key players overview

    Industrial Battery Market – By Type 

    • Lead-acid Batteries
    • Lithium-based Batteries
    • Nickel-based Batteries
    • Others


    Industrial Battery Market – By Application

    • Telecom & Data Communication
    • Industrial Equipment
    • UPS/Backup
    • Grid-level Energy Storage
    • Mining
    • Marine
    • Others

    Global Industrial Battery Market by Region

    • North America

      • US
      • Canada
      • Mexico
    • Europe

      • France
      • Germany
      • Italy
      • UK
      • Russia
      • Rest of Europe
    • Asia Pacific

      • China
      • India
      • South Korea
      • Japan
      • Australia
      • Rest of Asia Pacific
    • Middle East & Africa

      • South Africa
      • Saudi Arabia
      • UAE
      • Rest of Middle East and Africa
    • South America

      • Brazil
      • Argentina
      • Rest of South America 

    Companies Profiles

    • C&D Technologies, Inc.
    • East Penn Manufacturing Company
    • EnerSys
    • Exide Industries Limited
    • General Electric Company
    • GS Yuasa International Ltd.
    • LG Chem
    • Panasonic Corporation
    • Robert Bosch GmbH
    • Saft Groupe SA  

    Frequently Asked Questions

    Which industry led the industrial battery market?

    The Industrial Equipment sector is the leading industry in the market, which comprises machinery, large scale process, and construction industry plants. The growing industry 4.0 trends, such as IoT, Artificial Intelligence (AI), big data analysis, networked communications, cloud computing, and machine learning technologies, are marking a substantial change in the businesses model and the way of attracting customers. Such growing technologies are offering innovative industrial equipment solutions that support the production and delivery of efficient equipment. In order to operate a warehouse or heavy machinery, the need for material handling equipment batteries is necessary. Lithium-ion batteries are ideally used for the equipment used in various industries, such as food and beverage and tissue industries. Increasing use of industrial equipment in areas such as airport ground support, lift trucks, sweepers, and scrubbers, and automatic guided vehicles (AGV) is propelling the growth of industrial battery market.

    Which region led the industrial battery market in 2019?

    The APAC region led the Industrial Battery market in 2019 as the factors such as the growing industrial equipment, mining, and marine industries, stringent environmental regulations, and reduced labor costs associated with battery recycling are the factors boosting the APAC industrial battery market growth.

    Which factor is driving the industrial battery market?

    Governments across the world are focusing on expanding the reach of digitization and promoting the utilization of several electronic devices, and have become the most important storage technology in the areas of portable and mobile applications (e.g., laptop, cell phone, electric bicycle, and electric car). Other important uses of lithium-ion batteries include storage in electrical grids. Moreover, the performance of Lithium-ion batteries (LIBs) used in grid-level energy storage systems is analyzed by service providers with regard to frequency regulation, peak shifting, integration with renewable energy sources, and power management. The increasing requirement of lithium-ion batteries in various applications is one of the major factors driving the industrial battery market.

    Nivedita Upadhyay
    Nivedita Upadhyay
    Manager,
    Market Research & Consulting

    Nivedita is an accomplished research professional with over 9 years of experience in Market Research and Business Consulting. Currently serving as a Project Manager in the ICT domain at The Insight Partners, she brings deep expertise in managing and executing Syndicated, Custom, Subscription-based, and Consulting research assignments across diverse technology sectors.

    With a proven track record of delivering data-driven analysis and actionable insights, Nivedita has been a key contributor to several critical projects. Her work involves end-to-end project execution—right from understanding client objectives, analyzing market trends, to deriving strategic recommendations. She has collaborated extensively with leading ICT companies, helping them identify market opportunities and navigate industry shifts.

    Nivedita holds an MBA in Management from IMS, Dehradun. Prior to joining The Insight Partners, she gained valuable experience at MarketsandMarkets and Future Market Insights in Pune, where she held various research roles and built a strong foundation in industry analysis and client engagement.

    • Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
    • PEST and SWOT Analysis
    • Market Size Value / Volume - Global, Regional, Country
    • Industry and Competitive Landscape
    • Excel Dataset

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    The List of companies - Industrial Battery Market

    1. C&D Technologies, Inc.
    2. East Penn Manufacturing Company
    3. EnerSys
    4. Exide Industries Limited
    5. General Electric Company
    6. GS Yuasa International Ltd.
    7. LG Chem
    8. Panasonic Corporation
    9. Robert Bosch GmbH
    10. Saft Groupe SA    
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