The global industrial batteries market size is projected to reach USD 27.44 billion by 2027 registering a CAGR of 6.0%, according to a new report by Grand View Research, Inc. High demand for back-up power batteries in grid-level energy storage application for solar and wind power projects will boost the market growth during the forecast period. Moreover, increasing usage of these batteries in various applications, such as UPS and motive power, is anticipated to drive the market. Industrial batteries offer benefits, such as reduction in manufacturing cost, high durability, lower maintenance costs, and low discharge rate capability, which is expected to increase their demand further.
Easy availability of batteries of different specifications and sizes will also augment the market growth. Lead acid batteries are relatively cheaper than other batteries and are can be manufactured using lesser technology equipment, which in turn will drive market their demand in the near future. Increasing investments by major manufacturers coupled with the growing number of renewable energy projects with battery storage capability are likely to drive the market. However, volatility in raw material prices will pose a restraint for the market growth.
Request a Sample Copy of the Industrial Batteries Market Research Report @ https://www.grandviewresearch.com/industry-analysis/industrial-batteries-market/request/rs1
Industrial Batteries Market Report Highlights
Have Any Query? Ask Our Experts@ https://www.grandviewresearch.com/inquiry/450381/ibb
Industrial Batteries Market Segmentation
Grand View Research has segmented the global industrial batteries market on the basis of battery type, end use, and region:
Industrial Batteries Type Outlook (Revenue, USD Million, 2016 – 2027)
Industrial Batteries End-use Outlook (Revenue, USD Million, 2016 – 2027)
Industrial Batteries Regional Outlook (Revenue, USD Million, 2016 – 2027)
List of Key Players of Industrial Batteries Market
Browse Related Reports @
Axial Flow Pump Market: https://www.grandviewresearch.com/industry-analysis/axial-flow-pump-market
Natural Gas Generator Market: https://www.grandviewresearch.com/industry-analysis/natural-gas-generator-market
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Media ContactCompany Name: Grand View Research, Inc.Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.Email: Send EmailPhone: 1-415-349-0058, Toll Free: 1-888-202-9519Address:201, Spear Street, 1100 City: San FranciscoState: CaliforniaCountry: United StatesWebsite: https://www.grandviewresearch.com/industry-analysis/industrial-batteries-market