The Latest Industrial Batteries Industry Statistics Explained
The global Industrial Batteries Market was valued at $13.58 billion in 2017.
The statistic stating that the global Industrial Batteries Market was valued at $13.58 billion in 2017 indicates the total value of all industrial batteries sold worldwide during that year. This value reflects the significant size and importance of the industrial battery market, which provides power storage solutions for various industries such as manufacturing, telecommunications, energy storage, and more. The market value serves as a key indicator of the economic activity and growth within the industrial battery sector, highlighting the increasing demand for reliable and efficient power storage solutions across different industries on a global scale.
It’s expected to reach $17.42 billion by 2025, growing at a CAGR of 3.3% from 2018 to 2025.
This statistic indicates that the projected market size is estimated to reach $17.42 billion by the year 2025. The growth rate of the market is expected to be 3.3% per year, calculated as the Compound Annual Growth Rate (CAGR), from the base year 2018 to the target year 2025. This forecast suggests a steady and moderate growth trend in the market over the specified period, with the market expanding consistently at an annual rate of 3.3%.
Lead-acid batteries accounted for over 37.3% share of the global industrial battery market in terms of revenue in 2017.
This statistic indicates that lead-acid batteries had a significant presence in the global industrial battery market in 2017, capturing more than one-third of the market share in terms of revenue. The high market share highlights the widespread usage and importance of lead-acid batteries in various industrial applications. The dominance of lead-acid batteries in the market may be attributed to factors such as their affordability, reliability, and established technology. This data suggests that lead-acid batteries were a popular choice among industries needing reliable and cost-effective power storage solutions in 2017.
The Asia-Pacific region was the largest industrial battery market, accounting for 32.8% of the global market in 2017.
This statistic reveals that the Asia-Pacific region held the dominant position in the global industrial battery market in 2017, representing 32.8% of the total market share. This suggests that the demand for industrial batteries, which are commonly used in sectors such as manufacturing, telecommunications, and energy storage, was highest in the Asia-Pacific region compared to other regions worldwide. The region’s strong market presence may be attributed to factors such as rapid industrialization, increasing adoption of renewable energy sources, and growing investments in infrastructure development. Overall, this statistic highlights Asia-Pacific’s significant contribution to the global industrial battery market in 2017.
Telecommunication was the largest application segment of the industrial batteries market, accounting for nearly 30.2% share in 2017.
This statistic indicates that in 2017, the telecommunication industry made up the largest portion of the industrial batteries market, representing approximately 30.2% of the market share. This suggests that a significant portion of industrial batteries produced and consumed during that period were specifically used within the telecommunication sector for various applications such as powering cell towers, communication devices, and other infrastructure. The high market share held by the telecommunication industry highlights its substantial reliance on industrial batteries to ensure uninterrupted operations and efficient performance, emphasizing the importance of this sector within the industrial batteries market.
The industrial battery market in Latin America and the Middle East and Africa is expected to register the highest CAGR of 10.2% by 2026.
This statistic indicates the projected Compound Annual Growth Rate (CAGR) of the industrial battery market in Latin America and the Middle East and Africa region by the year 2026. A CAGR of 10.2% suggests a consistent and substantial growth rate for the market during the specified time period. This strong growth forecast signifies potential opportunities for businesses operating in the industrial battery sector in these regions, with an increasing demand for industrial batteries likely driven by factors such as industrialization, infrastructure development, and adoption of renewable energy sources. Overall, the statistic highlights the promising outlook for the industrial battery market in Latin America and the Middle East and Africa, indicating a positive trend for the industry.
Electric forklifts, the second largest application of industrial batteries, accounted for a market share of 20.4% in 2019.
This statistic indicates that electric forklifts represented the second largest category of applications for industrial batteries in the market, accounting for 20.4% of total market share in 2019. This information suggests that electric forklifts are a significant player in the industrial battery market, trailing only behind the leading application in terms of market share. The data highlights the importance of electric forklifts as a key driver of demand for industrial batteries, emphasizing their widespread use and adoption within the industrial sector. Additionally, this statistic could be useful for companies in the industrial battery industry to understand market trends and make informed decisions regarding product development and marketing strategies.
Valve Regulated Lead Acid (VRLA) batteries dominated the market with a 59.4% share in revenue in 2019.
This statistic means that Valve Regulated Lead Acid (VRLA) batteries were the most prominent and profitable type of batteries in the market in 2019, accounting for 59.4% of the total revenue generated from battery sales. This dominance suggests that VRLA batteries were highly preferred by consumers and industries over other types of batteries, indicating their reliability, performance, and cost-effectiveness. The market share of VRLA batteries being over half clearly signifies their strong presence and competitiveness within the battery industry, highlighting their importance and widespread adoption in various applications and sectors during the specified period.
The market revenue of the Lithium-based industrial battery segment is projected to reach $5.5 billion by 2025.
The statistic indicates that the market revenue for Lithium-based industrial batteries is forecasted to increase to $5.5 billion by the year 2025. This projection suggests a growth trend in the demand and adoption of Lithium-based industrial batteries within various industries such as energy storage, automotive, and electronics. Factors driving this projected increase in market revenue could include the expanding use of electric vehicles, rising investments in renewable energy storage systems, and technological advancements in battery technology. Companies operating in the Lithium-based industrial battery market may benefit from this growth opportunity by developing innovative products, expanding production capacity, and forming strategic partnerships to capitalize on the increasing market demand.
Grid storage, an application of industrial batteries, is set to witness a growth of over 6% in Europe by 2024.
The statistic indicates that the use of industrial batteries for grid storage purposes is expected to experience significant growth in Europe, with a projected increase of over 6% by the year 2024. This growth suggests a growing demand for grid storage solutions in the region, likely driven by factors such as the increasing integration of renewable energy sources, the need for more reliable and resilient energy systems, and efforts to reduce carbon emissions. As grid storage plays a crucial role in balancing supply and demand in the electricity grid, this anticipated growth highlights the importance of energy storage technology in supporting the transition towards a more sustainable and efficient energy ecosystem in Europe.
China dominated the Asia-Pacific industrial battery market with a share of over 40% in 2019.
This statistic indicates that in 2019, China held a significant position in the Asia-Pacific industrial battery market by capturing more than 40% of the market share. This suggests that China was a major player in the region’s industrial battery industry, surpassing other countries in terms of market presence and influence. The dominance of China in this market segment could be attributed to factors such as the country’s strong manufacturing capabilities, technological advancements, cost efficiencies, and potentially favorable government policies. Overall, this statistic highlights China’s leading role in the Asia-Pacific industrial battery market during the specified year.
The U.S. industrial battery market was valued at over $1.41 billion in 2019.
The statistic indicates that the U.S. industrial battery market had a total worth of more than $1.41 billion in the year 2019. This value represents the combined financial value of all industrial batteries sold and used within the United States during that specific year. Industrial batteries are typically large-scale batteries used in various industrial applications, such as backup power systems, energy storage solutions, and electric vehicles. The market value of $1.41 billion reflects the significant size and economic importance of the industrial battery sector within the U.S. economy, highlighting the demand for reliable energy storage solutions in various industries.
Sales of industrial batteries in renewable energy application is projected to cross $4 billion by 2024.
The statistic indicates that sales of industrial batteries used in renewable energy applications are forecasted to surpass $4 billion by the year 2024. This suggests a significant growth and increasing demand for batteries in the renewable energy sector, underscoring the importance and potential of renewable energy sources in mitigating climate change and transitioning towards a more sustainable energy future. The rising adoption of renewable energy technologies such as solar and wind power systems is likely to be a driving force behind this projected growth in industrial battery sales, as these batteries are essential for storing and managing the intermittent nature of renewable energy generation. This statistic highlights a positive trend towards cleaner energy solutions and the growing role of batteries in enabling the integration of renewables into the energy grid.
By 2024, the UPS sales of industrial batteries may likely surpass 3 million units.
The statistic suggests that the sales of industrial batteries by UPS (Uninterruptible Power Supply) are projected to exceed 3 million units by the year 2024. This implies a significant growth or increase in demand for industrial batteries used in UPS systems. The information indicates a positive trend in the market for these particular types of batteries, potentially driven by factors such as technological advancements, increasing need for power backup solutions in industrial settings, or changes in regulations necessitating reliable power backup systems. These forecasts are important for stakeholders in the industrial battery sector as well as those involved in the UPS industry to anticipate and prepare for potential market opportunities and challenges in the coming years.
The lithium-based battery segment is anticipated to exhibit significant growth of 6.5% CAGR through 2026.
This statistic indicates that the lithium-based battery segment is expected to experience a Compound Annual Growth Rate (CAGR) of 6.5% till the year 2026. This suggests a steady and substantial increase in the market size and demand for lithium-based batteries over the forecast period. The anticipated growth could be driven by various factors such as increasing adoption of electric vehicles, renewable energy sources, and portable electronic devices that rely on lithium-based batteries for power. The projection of 6.5% CAGR signifies a positive outlook for the industry, indicating potential opportunities for businesses operating within the lithium-based battery market to capitalize on the growing demand for sustainable energy solutions.
North America contributed to 30% of the global industrial battery market share in 2019.
The statistic ‘North America contributed to 30% of the global industrial battery market share in 2019’ indicates that North America held a significant portion of the market in that year. This suggests that a substantial amount of industrial batteries were manufactured, sold, or used in North America compared to other regions around the world. This statistic highlights the importance and influence of North America in the industrial battery sector and points to a strong presence of industrial battery-related activities in the region during the specified year.
By 2027, the global industrial batteries market is projected to reach $23.54 billion.
The statistic indicates that the global industrial batteries market is expected to grow significantly by the year 2027, reaching a projected value of $23.54 billion. This forecast suggests a positive trend in demand for industrial batteries, driven by factors such as increasing adoption of renewable energy sources, expansion of electric vehicle infrastructure, and advancements in energy storage technologies. The projected market value not only reflects the growing reliance on batteries in various industrial applications but also highlights the potential opportunities for businesses operating in the battery manufacturing and related industries to capitalize on this market growth in the coming years.
The Indian industrial battery market is expected to grow at a CAGR of 9% during the forecast period of 2021-2026.
This statistic indicates that the Indian industrial battery market is projected to experience a Compound Annual Growth Rate (CAGR) of 9% over the span of 2021 to 2026. This suggests that over the forecast period, the market is anticipated to steadily expand at an average annual rate of 9%. This growth rate signifies a positive trend in the industrial battery sector in India, with increasing demand for industrial batteries expected to drive market growth. Businesses operating in this market may need to adapt to this growth trajectory by expanding their production capacity, enhancing their product offerings, or entering new market segments to capitalize on the opportunities presented by this anticipated growth.
In 2020, lithium-ion battery was the most rapidly growing technology in the industrial battery market with a growth rate of 11.5%.
The statistic indicates that in 2020, lithium-ion batteries experienced the highest growth rate among all technologies within the industrial battery market, showing an impressive increase of 11.5%. This suggests a substantial surge in the adoption and demand for lithium-ion batteries across various industrial applications, such as electric vehicles, energy storage systems, and consumer electronics. The rapid growth of lithium-ion battery technology points towards its increasing prominence and market share within the industrial battery sector, highlighting its efficiency, performance, and versatility compared to other battery technologies. This statistic underscores the significant role that lithium-ion batteries play in driving innovation and progress in the industrial sector.
Demand from the power industry will be a key driver for the industrial batteries market, which is expected to account for over 33% market share by 2027.
This statistic suggests that the power industry’s demand for industrial batteries is projected to have a significant impact on the industrial batteries market by 2027. The statement implies that the power industry’s need for reliable and efficient energy storage solutions will drive substantial growth in the market, with industrial batteries expected to represent over one-third of the total market share by 2027. This forecast highlights the strategic importance of the power industry as a key factor driving the demand and adoption of industrial batteries in various applications, such as backup power systems, grid energy storage, and renewable energy integration. Companies operating in the industrial batteries sector should pay close attention to the evolving needs of the power industry to capitalize on this anticipated market growth.
Conclusion
Based on the statistics presented, it is evident that the industrial batteries industry is experiencing steady growth and increasing demand. With advancements in technology and the push towards cleaner energy sources, the future of this industry looks promising. Companies in this sector should continue to innovate and adapt to meet the evolving needs of consumers and businesses.
References
0. – https://www.www.marketresearch.com
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2. – https://www.www.alliedmarketresearch.com
3. – https://www.www.grandviewresearch.com
4. – https://www.www.reportsanddata.com
5. – https://www.www.fortunebusinessinsights.com
