The growth of the industrial battery charger industry is increasingly dependent on investments made in the renewable energy sector, with emphasis on power-grid storage applications.
ROCKVILLE, MD / ACCESSWIRE / July 2, 2020 / The global industrial battery charger market is anticipated to grow 2.2x with a sluggish 2.6% CAGR, for the projection period between 2020 and 2030. The demand for industrial batteries is on the rise in the food & beverages and healthcare sectors, as their services have been designated as essential by regulatory bodies during the pandemic. With the growing emphasis on power backup applications in multiple verticals, the industrial battery charger market finds a number of lucrative opportunities.
According to Fact.MR, declining oil & gas prices, and the temporary suspension of on-site activities for IT companies has resulted in a substantial drop in demand for industrial battery chargers. However, requirements for industrial battery chargers in the telecommunication industry will partially mitigate losses during the crisis period.
"Rising investments from the public and private sectors for renewable energy production and storage, particularly in solar and wind power, are key factors driving the adoption of industrial battery chargers. Efforts towards the development of sustainable economies, are aiding critical market developments. The setup of eco-friendly energy solutions in present and new energy grids will influence the prospects of the industrial battery chargers market," says the FACT.MR study.
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Industrial Battery Charger Market- Critical Takeaways
- Chargers for industrial batteries with SCR technologies will remain highly sought after owing to compatibility with multiple industrial requirements.
- Ferroresonant technology contributes substantially to market revenue, owing to better durability and dependability without the need for electronic control.
- SLA battery chargers account for nearly 70% of sales, owing to faster and easier charging processes.
- IT sector and data center applications hold the lead in market share, owing to investments in battery backup.
- North America and Europe are leading industrial battery charger markets, backed by the oil & gas sector. However, APEJ is rapidly gaining ground with spending in the ICT sector.
Industrial Battery Charger Market- Drivers
- Digital improvements in battery technologies coupled with investments in smart power grid infrastructure supports the sales of industrial battery chargers.
- Increased deployment rates in terms of eco-friendly energy solutions and the installation of new energy grids positively influence market developments.
- The continued increase in demand for power and investments in energy transmission and intelligent systems create key lucrative opportunities in the market.
- Decreased dependence on oil & gas and the transition to renewables aid market growth.
Industrial Battery Charger Market- Restraints
- Risks of ripple voltage and current are a challenge for most industry battery charger manufacturers.
- Workplace hazards associated with the charging of industrial lead-acid batteries hold back sales.
COVID-19 Impact on Industrial Battery Charger Market
The novel coronavirus outbreak has resulted in a major slowdown of the global economy. Lockdown measures have resulted in the suspension of manufacturing activities, as factories remain closed or at partial operational capacity. These trends are adversely impacting the industrial battery charger market. Shortage of labor and raw materials during the pandemic are also hurting market prospects.
As global trade and logistical restrictions are relaxed and removed, investments into the green energy sector will help in the recovery of the industrial battery chargers market. Government aid and incentives towards the manufacturing sector will also help in a faster recovery of the industry.
Explore the global industrial battery chargers market with 306 figures, 144 data tables, along with the table of contents of the report. You can also find detailed segmentation on
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Competitive Landscape
Major industrial battery charger manufacturers are increasingly seeking strategic mergers and acquisitions. In addition, manufacturers are also pushing for capital growth and debt reduction through divestment. Research for product innovation is also critical to market developments. For instance, Delta Q has released industrial battery chargers with customized algorithms, and integration with CAN communication systems. Further, Sibex has also revealed its range of ultra-high frequency battery chargers, which provides fast charging at low energy costs.
Kirloskar Electric Company, ABB Ltd., AEG Power Solutions, Hitachi Ltd., Lester Electrical Exide Technologies, Crown Battery Manufacturing Company, ENERSYS, Sevcon, DeltaQ, AMETEK Inc., GS Yuasa International Ltd., are some of the major industrial battery charger manufacturers.
About the Study
The study offers readers an exhaustive market forecast of the industrial battery charger market. Global, regional and national-level analysis of the latest industry trends influencing the industrial battery charger market is covered in this FACT.MR report. The study provides actionable insights on industrial battery charger market according to technology (ferroresonant chargers, high frequency, chargers sanitizers, hybrid chargers, and SCR chargers), battery rated voltage (up to 24V, 48V, 60V, 110V, and above 110V), output charging current (15A - 50A, 51A - 150A, 151A - 250A, 251A - 500A, and above 500A), power rating (up to 5kW, 5kW - 15 kW, 10kW - 15 kW, and above 15kW), battery type (lithium battery, NiCd battery, Plante battery, and sealed lead acid (SLA) battery), configuration (dual FCBC, FC&BC, FC%FCBC, and FCBC) and end use (energy & power, infrastructure, IT & data center, manufacturing, marine, oil & gas, railways, and telecommunications) across eight regions (North America, Latin America, Western Europe, Eastern Europe, APEJ, Oceania, Japan, and MEA).
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Expert analysis, actionable insights, and strategic recommendations of the veteran research team at FACT.MR helps clients from across the globe with their unique business intelligence requirements. With a repository of over a thousand reports and 1 million+ data points, the team has scrutinized the industrial goods sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Fact.MR's latest market reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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