Industrial Batteries Market is projected to reach USD 10.84 billion by 2021, at a CAGR of 6.5% between 2016 and 2021. The rising demand for grid-connected solutions, government incentives for the use of green and clean energy, and recyclability of the batteries are expected to propel the growth of the market.
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Telecom & data communication was the largest segment of the industrial batteries market in 2015, and is projected to be the fastest-growing segment from 2016 to 2021. The growth of this segment can be mainly attributed to the growth in the telecom industry and increasing demand for high efficiency power backup.
Based on type, lead-acid batteries was the largest segment of the industrial batteries market in 2015.
Lithium-based batteries are expected to be the fastest-growing segment of the market, since these batteries are rapidly being adopted owing to their increased life, recyclability, and low emission.
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This study has been validated through primary interviews with various industry experts globally. The break-up profile of primary discussion participants is given here Tier 1 (40%); Tier 2 (25%) and other (35%) companies were contacted for interviews.
The interviews were conducted with various key people such as C-level (35%), Director level (40%), Others (25%) from various key organizations. The primary interviews were conducted worldwide covering regions such as North America (25%), Europe (20%), Asia-Pacific (40%), Middle East & Africa (10%), and Central & South America (5%).
Furthermore, as a part of qualitative analysis, the research provides a comprehensive review of major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by different market players, including Johnson Controls (U.S.), GS Yuasa (Japan), Exide Technologies Inc. (U.S.), EnerSys Inc. (U.S.), and SAFT Group S.A. (France), among others.
Ask for a copy of Industrial Batteries Market by type (Lead-Acid, Nickel-Based, Lithium-Based), end-user industry (Telecom & Data Communication, Uninterruptible Power Supply (UPS)/Backup, Industrial Equipment, Grid-Level Energy Storage), and region - Global Forecast to 2021 at www.rnrmarketresearch.com/contacts…unt?rname=694366
The report offers market estimations and projections till 2021 and offers a complete study of the market dynamics. In addition, the report provides the competitive landscape with major growth strategies adopted by the key players.
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