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What Are the Market Size Projections for the Global Industrial Batteries Market?
The industrial batteries market has shown strong growth in recent years, increasing from $15.37 billion in 2024 to $16.73 billion in 2025 at a compound annual growth rate (CAGR) of 8.9%. This growth during the historic period can be attributed to factors including industrialization and manufacturing growth, advancements in telecommunications infrastructure, the increasing integration of renewable energy, and environmental regulations.
Furthermore, the market is projected to continue its strong growth in the coming years, expanding to $23.57 billion in 2029 at a CAGR of 8.9%. This forecasted growth can be attributed to an increasing demand for energy storage, expanding e-mobility, expansion of Internet of Things (IoT) and edge computing applications, the ongoing electrification of industries, and new explorations within space and aerospace. Major trends impacting this forecasted growth include lithium-ion dominance, ongoing improvements in energy density, advancements in rapid charging technology, the development of eco-friendly chemistries, and the rise of hybrid energy storage.
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What Are the Key Drivers of Growth for the Industrial Batteries Market?
The rapid expansion of the telecommunication sector is expected to propel the growth of the industrial battery market going forward. Industrial batteries in telecommunications are used as power backup for network equipment-related servers, to run DC (direct current) equipment, and to provide power for base stations that are remotely situated and have no access to the national grid. As an example, according to Invest India, the country’s National Investment Promotion and Facilitation Agency, the telecom industry in India has a subscriber base of 1.17 billion mobiles as of April 2022. Hence, the rapid expansion in telecommunications is playing a significant role in driving the growth of the industrial battery market.
What Are the Major Segments Within the Global Industrial Batteries Market?
The industrial batteries market covered in this report is segmented as follows:
– By Type: Lithium-Ion Battery, Nickel-Based Battery, Lead-Based Battery
– By Application: Telecom and Data Communication, Uninterruptible Power Supply (UPS), Energy, Equipment, Grid Storage, Other Applications
– By End User: Domestic, Industrial
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Which Companies are Major Players in the Industrial Batteries Market?
Major companies operating in the industrial batteries market include Exide Industries Ltd., C&D Technologies Inc., Enersys Inc., GS Yuasa Corporation, Northstar Battery Company LLC., Amara Raja Batteries Ltd., American Battery Solutions, Bulldog Battery Corporation, Crown Batteries, HOPPECKE Industrial Batteries Ltd., Zhejiang Narada Power Source Co. Ltd., SK Innovation Co. Ltd., The Sunlight Group, TAB batteries, East Penn Manufacturing, EnerSys, Johnson Controls, C&D Technologies, Saft Group, FIAMM Energy, Hoppecke, HBL Power Systems, GS Yuasa, NorthStar Battery, Leoch International, Hitachi Chemical, Narada Power, Storage Battery Systems (SBS), Advanced Energy.
What trends are Shaping the Industrial Batteries Market Landscape?
Product innovation is a key trend gaining popularity in the industrial batteries market. Major companies operating in the industrial battery sector are focussed on developing innovative solutions for battery power management systems to gain a competitive advantage. For instance, in April 2022, Narada Power, a China-based battery manufacturing company, launched a 512-volt high-voltage lithium battery backup power system. This system is designed for industrial use, particularly for Internet Data Centers (IDCs). It uses a lithium-ion (Li-ion) battery as a key component. The system offers several unique advantages including high power discharge, high energy density, high safety and reliability, and can also be employed for high-voltage direct current (HDVC) and uninterruptible power supply (UPS) purposes. The high-voltage lithium batteries used for the system are 60% lighter and have a 50% lower carbon footprint in comparison to a similar system used for conventional lead batteries.
Which Region is the Fastest Growing in the Industrial Batteries Market?
North America was the largest region in the industrial batteries market in 2024, however, the Asia-Pacific region is expected to be the fastest-growing region in the forecast period. This report covers the industrial batteries market in regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Industrial Batteries Market Offer?
Industrial batteries refer to electrochemical devices that convert higher-level active materials into an alternate state during discharge. These heavy-duty batteries can operate in harsh environments and are available in various sizes and shapes as per industrial needs. Industrial batteries are used to provide power to equipment in various industries such as automation, construction machinery, robotics, and small transport vehicles operating on battery power. The Industrial Batteries Market offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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