November 27, 2020

What is Industrial Batteries? A New Framework to Improve Battery Technology

Industrial Battary

According to the new research report published by The Insight Partners, titled "Industrial Battery Market - Global Analysis and Forecast to 2027", the global industrial battery market is expected to reach US$ 21,893.5 Mn by 2027, registering a CAGR of 7.3% during the forecast period 2020-2027.

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 demand for energy storage systems in the market is also growing. The energy storage systems store energy during the off-peak time and use energy during peak times. Some of the major companies offering energy storage systems include GE Company, Samsung SDI, Exide, LG Chem, and Saft Batteries, among others. The demand for UPS is also growing across the industrial sector owing to the growing focus towards the safe down of the process during a power failure.

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. For instance, in 2020, GS Yuasa Corporation launched SNS-TN series of valve-regulated stationary lead-acid batteries. These batteries are ideal for applications with high discharge frequency as well as for applications requiring the float charge. Also, in 2019 East Penn Manufacturing launched a complete line of both Lead and Lithium material handling battery products for Class I, II, and III operations.

The demand for industrial batteries is expected to grow owing to various factors such as increasing demand for grid-connected solutions, high requirement for Lithium-ion batteries, and increasing focus of the government towards the adoption of clean energy sources and electric vehicles. Based on geography, APAC holds a significant market share and is expected to grow at a high rate owing to the growing industrialization and presence of a strong manufacturing sector in countries such as India, China, and South Korea. The top companies operating in the field of Industrial batteries include Exide Technologies Inc., Enersys Inc., Saft Groupe S.A., GS Yuasa Corporation, LG Chem, Panasonic Corporation, Robert Bosch GmbH, East Penn Manufacturing Company, Saft Groupe SA, C&D Technologies, Inc., and General Electric Company among others. Various other companies operating in the market and are coming up with advance industrial battery solutions, which is helping the market for industrial batteries to expand over the years in terms of revenue.

For Some Cases of Industrial Battery, Get PDF Sample Copy: Case Study

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.

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

Learn More About Industrial Battery

The Insight Partner dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Source: The Insight Partners