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Industrial Battery Chargers Market By Technology Type (Ferroresonant, SCR, High Frequency, Hybrid), By Battery Type (SLA, NiCd, Plante Battery, Lithium Battery), By Battery Voltage (Upto 24V, 24V-48V, Above 48V), By Output Current (Upto 50A, 51A-150A, 151A-250A, 251A-500A, Above 500A), By End-use Industry (IT & Data Centre, Energy & Power, Transportation, Telecommunication, Oil And Gas, Metal And Mining) - Growth, Future Prospects & Competitive Analysis, 2019 – 2027

Overview:

The industrial battery chargers market is expected to reach US$ 3.42 billion in 2027, growing at a CAGR of 8.14% during the forecast period from 2019 to 2027. Industrial battery chargers are used for charging large battery banks that find applications in various industries, such as I.T., telecom, and power. Continuous supply of power is crucial in large industries, as a few minutes of power downtime could incur huge losses. To avoid such occurrences, batteries are predominantly used. Rising technology innovation in battery-powered transportation, the energy and power sectors, etc., has created a huge demand for energy storage. This, in turn, has resulted in high demand for industrial battery chargers worldwide. Also, growing installations of new power grids across the globe further stimulate the growth of the industrial battery charger market.

According to the "World Economic and Social Survey, 2018," conducted by the United Nations, recent developments in battery technology have made renewable energy technology for off-grid power more viable in many communities in Asia and other developing parts of the world, such as Latin America and Africa. The United Nations also emphasized the increasing use of battery technology for achieving the goal of sustainable development.

Batteries store energy for a reasonably long period of time. They are of great help in delivering energy more effectively than a thermal engine. The responsiveness of batteries is instantaneous compared to other power sources, such as generators. For instance, a diesel generator requires about 2–3 minutes to start and also generates a lot of smoke, which causes air pollution. On the contrary, batteries are smokeless, and they supply power instantly.

Market Snapshot

Fearesonant Technology accounted for the largest market share in 2018.

Technological upgrades have enhanced the efficiency of ferroresonant chargers while increasing the power factor as well. Ferroresonant technology chargers provide better protection against A.C. fluctuation. This helps to avoid any damage to the machine working on it and fluctuations in battery efficiency. Ferroresonant chargers are not affected by environmental factors such as humidity or temperature. This acts as a major advantage of ferroresonant technology chargers. Having a long life cycle, this type of charger is long-lasting and can serve for almost 15 years with the minimum amount of repair and maintenance. In addition to this, ferroresonant chargers are easy to diagnose and repair. The aforementioned benefits of ferroresonant technology chargers have put them ahead of other charger technologies in overall market share. Apart from this, recent developments in charger technologies, such as a reduction in size and weight, are expected to spur steady growth in the market.

North America Garnered the Largest Market Share in 2018

In 2018, North America led the industrial battery charger market worldwide. The region is expected to witness a considerable amount of growth during the forecast period from 2019 to 2027. North America has highly developed power, I.T., and data center sectors. These sectors gobble up large amounts of energy every day. Currently, data centers in the U.S. use almost 90 billion kilowatt-hours of energy every year, and this number is increasing on a yearly basis. With the increasing growth in I.T. and data centers, the demand for industrial battery chargers is increasing at a rapid pace. Moreover, the growth and acceptance of IoT further aid the growth in the number of data centers, ultimately supporting the demand for industrial battery chargers and thereby enhancing market growth in the region.

Competitive Insights

Major players profiled in the industrial battery chargers market include ABB Ltd., Exide Technologies, EnerSys, G.S. Yuasa Corporation, Ametek, Inc., Crown Battery Manufacturing, Hitachi Ltd., Delta Q Technologies Corp., Sevcon Inc., Lester Electrical, Kirloskar Electric Company, AEG Power Solutions Ltd., Motor Appliance Corporation, Schumacher Electric Corp., etc., among others. These companies are adopting several strategies for gaining a larger share of the market. For instance, in May 2019, Exide Technologies launched its next-generation technology for automotive and industrial applications. The carbon boost 2.0 technology can achieve 75% more energy savings on an EFB start-stop battery. It can be used for EFB and premium batteries that are used in light vehicles. Moreover, in February 2016, Sevcon Inc. acquired the Italy-based privately held battery charger manufacturing company Bassi S.r.l. With this acquisition, the company expects to gain 35% of the vehicle electrification market.

Historical and Forecast Period

The research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The industrial battery chargers market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global industrial battery charger market based on technology type, water depth, end-use industry, and geography. Key segments covered in the report are as follows:

Key questions are answered in this report.

  • What was the market size of the industrial battery charger market in 2018, and what is the forecast up to 2027?
  • What are the key factors driving the global industrial battery charger market?
  • What are the key market trends and high-growth opportunities observed in the industrial battery charger market?
  • Which is the largest regional market for industrial battery chargers?
  • Which segment will grow at a faster pace? Why?
  • Which region will drive the market's growth? Why?
  • Which players are leading the industrial battery charger market?
  • What are the sustainability strategies adopted by the key players operating in the market?

Frequently Asked Questions:

The market for Industrial Battery Chargers Market is expected to reach US$ 3.42 Bn in 2027.

The Industrial Battery Chargers Market is expected to see significant CAGR growth over the coming years, at 8.14%.

The report is forecasted to 2019-2027.

The base year of this report is 2018.

ABB Ltd.Exide Technologies,EnerSys,GS Yuasa Corporation, Ametek, Inc. are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Aug 2019
Category:  Technology & Media
Report ID:   59858
Report Format:   PDF
Pages:   120
Rating:    4.2 (69)
Delivery Time: 24 Hours to 48 Hours   
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