According to Future Market Insights, the global industrial battery chargers market will grow at an 8.5% CAGR through 2022, creating an absolute opportunity of more than US$ 2.25 billion. According to the study, the procurement of industrial battery chargers will increase by more than 7% in 2019.
Industrial battery chargers are likely to see widespread adoption as industrialization drives an increase in demand for energy storage. According to FMI’s analysis, the IT & data centre, and energy & power industries account for more than 35% of global demand for industrial battery chargers.
- SLA (sealed lead acid) batteries, representing a dominant market value share, will face strong competition from NiCd (Nickel-Cadmium) and plante batteries in coming years.
- FCBC (float cum boost) and dual FCBC configurations are likely to emerge highly lucrative for industrial battery charger manufacturers.
- Hybrid technology industrial battery chargers will reportedly emerge as the most attractive segment in industrial battery chargers market, within the next few years.
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List of Key Players Covered in Industrial Battery Chargers Market are:
- ABB Ltd.,
- Hitachi ltd
- Exide Technologies
- ENERSYS
- Delta Q
- GS Yuasa International Ltd.
- AMETEK. Inc.
- Sevcon
- Crown Battery Manufacturing Company
- Lester Electrical
- AEG Power Solutions
- Kirloskar Electric Company.
Favorable Government Initiatives to Accelerate Adoption of Industrial Battery Chargers
Increase in the energy distribution and transmission infrastructure backed by favorable governmental regulatory framework, and the flourishing trend of sustainability through non-conventional alternatives as energy sources are playing a vital role in establishing a strong adoption base for industrial battery chargers.
“The rate of industrial battery chargers’ procurement will significantly take off as electrification continues to receive strong governmental support. Mounting pace of the smart grid adoption across industries will remain another key factor encouraging preference for industrial battery chargers in the years to come,” says a senior market research professional at FMI.
Subsidies offered by regional and local governments for procurement of energy systems based on alternative sources at economical capital costs are strongly backed by climbing new grid sales, which necessitate the deployment of secondary or rechargeable batteries for energy transmission and distribution. FMI’s report opines that this will play a pivotal role in encouraging sales of industrial battery chargers in the near future.
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Asian & European Economies to Lead in Industrial Battery Chargers Market
Chinese and Indian industrial sectors continue to generate substantial demand for industrial battery chargers for a plethora of energy solutions. This according to the report is prominently pushing growth of industrial battery chargers market in APEJ. According to the report, APEJ currently holds almost a fourth of the total revenue of industrial battery chargers market.
In the light of significant efforts taken by European governments in the popularization and adoption of sustainable energy alternatives, it is highly likely that the demand for industrial battery chargers will be notable in Europe, which currently accounts for just-under a fourth of the global demand.
Although European countries leading the way for the increasing usage of renewable energy, developing countries are expected to emerge as game changers, looking at the rapidly improving emission patterns.
Vendor Insights: Key Companies to Remain Focused on Innovation in Terms of Efficiency
The industrial battery chargers market has been cited as a fairly consolidated competition landscape. In addition to high-efficiency, easy-to-use, and easy-to-install industrial battery chargers, the prominent companies in industrial battery charger market are focusing on their capabilities to cater to diverse specifications of a wide range of operational requirements.
Moreover, high compatibility with harsh environmental conditions has emerged as a lucrative trend among leading providers of industrial battery chargers, which could potentially offer them a competitive edge over others in the industrial battery charger market.
- The UK’s Battery Service Hub (BSH) has been delivering industrial batteries, industrial battery chargers, and a range of charging solutions for an extensive range of equipment such as forklift trucks, EVs, access platforms, floor cleaning machines, and others. The company is expected to maintain the focus on delivering high-performance, efficient battery charging profiles. BSH is cited as an important player in the rental battery charging solutions landscape.
- The US-based EnCharge Power Systems announced the introduction of remote monitoring solutions for industrial battery charging, which allow ready remote access to real-time data.
- Storage Battery Systems, LLC (SBS) recently announced the partnership with Systems Sunlight S.A., over the soon-to-be-launched battery technologies. With an increasing number of novel, sustainable battery technologies introduced in market frequently, it is highly likely that the key players will augment R&D investments for innovation of new battery charging technologies.
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Detailed Table of Content:
- Executive Summary
- Global Market Outlook
- Demand Side Trends
- Supply Side Trends
- Technology Roadmap
- Analysis and Recommendations
- Market Overview
- Market Coverage / Taxonomy
- Market Definition / Scope / Limitations
- Market Background
- Macro-Economic Factors
- Forecast Factors – Relevance & Impact
- Value Chain
- Market Dynamics
- Drivers
- Restraints
- Opportunity Analysis
- Global Industrial Battery Chargers Market Demand (in Value or Size in US$ Mn) Analysis 2013-2021 and Forecast, 2022-2028
- Global Industrial Battery Chargers Market – Pricing Analysis
- Regional Pricing Analysis by Technology
- Global Average Pricing Analysis Benchmark
- Historical Market Value (US$ Mn) Analysis, 2013-2021
- Current and Future Market Value (US$ Mn) Projections, 2022-2028
- Y-o-Y Growth Trend Analysis
- Absolute $ Opportunity Analysis
- Global Industrial Battery Chargers Market – Pricing Analysis
- Global Industrial Battery Chargers Market Analysis 2013-2021 and Forecast 2022-2028, by Technology
- Introduction / Key Findings
- Historical Market Size (US$ Mn) and Volume Analysis by Technology, 2013 – 2021
- Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast by Technology, 2022 – 2028
- High Frequency Chargers/Switch Mode Based
- SCR (Silicon Controlled Rectifier)/ Thyristor Based
- Ferroresonant
- Hybrid (SCR + Ferroresonant)
- Market Attractiveness Analysis by Technology
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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