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    Industrial Batteries Market

    ID: MRFR/CnM/1100-HCR
    111 Pages
    Chitranshi Jaiswal
    October 2025

    Industrial Batteries Market Research Report: By Application (Telecommunication, Power Storages, Industrial Equipment, Electric Grid Storage, Other Applications), By Product Type (Lead-Acid, Nickel-Based, Lithium-Based, Others) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2035.

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    Industrial Batteries Market Summary

    As per Market Research Future Analysis, the Global Industrial Batteries Market was valued at 19.28 USD Billion in 2023 and is projected to grow to 44.81 USD Billion by 2035, reflecting a CAGR of 7.19% from 2025 to 2035. The market is driven by the increasing demand for energy storage solutions, particularly in renewable energy and electric vehicle sectors. Key players are focusing on technological advancements and sustainability to enhance their competitive edge.

    Key Market Trends & Highlights

    The Industrial Batteries Market is witnessing significant trends driven by technological advancements and sustainability efforts.

    • The market is expected to reach 20.9 USD Billion in 2024, growing to 44.81 USD Billion by 2035.
    • Power Storage application is projected to grow from 6.3 USD Billion in 2024 to 13.92 USD Billion by 2035.
    • Electric Vehicles sales reached 10 million units in 2022, indicating a 60% year-on-year increase.
    • North America is expected to lead the market with a valuation of 5.21 USD Billion in 2024, doubling to 11.18 USD Billion by 2035.

    Market Size & Forecast

    2023 Market Size USD 19.28 Billion
    2024 Market Size USD 20.9 Billion
    2035 Market Size USD 44.81 Billion
    CAGR (2025-2035) 7.19%

    Major Players

    Key Companies include Enersys, Exide Technologies, Yuasa Battery, LG Energy Solution, and Panasonic.

    Industrial Batteries Market Trends

    The integration of advanced technologies such as smart grid systems is also propelling the market forward, as it enhances the effectiveness of battery use and management.Opportunities in the  Industrial Batteries Market are abundant, particularly in the sectors focusing on electric vehicles and renewable energy integration. As electric vehicle production increases, the need for high-performance batteries has surged, creating space for innovation and investment. Furthermore, the demand for backup and off-grid power solutions in industries such as data centers and telecommunications is on the rise.

    These sectors are looking for robust battery solutions to ensure uninterrupted power supply, providing an avenue for manufacturers to explore new products and services. Recent trends in the market also indicate an increased emphasis on sustainability, with manufacturers focusing on the development of eco-friendly batteries.Innovations in battery recycling and lifecycle management are becoming critical areas of focus, ensuring that industrial battery solutions not only meet performance standards but also adhere to environmental regulations.

    Governments worldwide are supporting this movement, reinforcing policies that promote sustainable practices in battery production and use, which is helping to shape the future of the  Industrial Batteries Market.

    The ongoing transition towards renewable energy sources and the increasing demand for energy storage solutions are driving innovation and growth in the industrial batteries sector, suggesting a pivotal role in the future of sustainable energy.

    U.S. Department of Energy

    Industrial Batteries Market Drivers

    Growing Demand for Renewable Energy Storage

    The Global Industrial Batteries Market Industry is experiencing a notable surge in demand for energy storage solutions, particularly driven by the increasing reliance on renewable energy sources. As nations strive to meet sustainability targets, the need for efficient energy storage systems becomes paramount. Industrial batteries, particularly lithium-ion types, are pivotal in storing energy generated from solar and wind sources. This trend is expected to contribute significantly to the market's growth, with projections indicating a market value of 20.9 USD Billion in 2024, potentially reaching 44.8 USD Billion by 2035. The compound annual growth rate of 7.18% from 2025 to 2035 underscores the urgency of this transition.

    Market Segment Insights

    Industrial Batteries Market Application Insights  

    The  Industrial Batteries Market application segment is poised for significant growth, aligning with the overall market expectations of 20.9 USD Billion in 2024, escalating to 44.81 USD Billion by 2035. Among various applications, Power Storage stands out with a valuation of 6.3 USD Billion in 2024, expected to reach 13.92 USD Billion by 2035, indicating its critical role in energy management and sustainability.

    This sub-segment benefits from the rising demand for renewable energy solutions, thereby highlighting its importance in transitioning to greener technologies.Telecommunication is another major contributor, valued at 3.05 USD Billion in 2024 and anticipated to grow to 6.63 USD Billion by 2035, reflecting its significance in maintaining uninterrupted communication services amidst the increasing digitalization trend. The Industrial Equipment segment holds a value of 4.85 USD Billion in 2024, projected to increase to 10.67 USD Billion by 2035, driven mainly by the industrial automation sector’s expansion.

    Electric Grid Storage, valued at 4.5 USD Billion in 2024 and expected to surge to 9.93 USD Billion by 2035, plays a vital role in stabilizing energy distribution and ensuring efficiency in electricity consumption.Other Applications, while smaller at 2.3 USD Billion in 2024 and a forecasted growth to 4.66 USD Billion in 2035, still underline the diverse nature of industrial battery uses across multiple sectors, such as transportation and backup power systems.

    Each application area is crucial as it not only showcases rapid growth potential but also reflects ongoing trends such as digital transformation, renewable energy integration, and increased automation in industries. The  Industrial Batteries Market data clearly indicates that the growing shift towards efficient energy solutions and technological advancements continues to drive the demand across these applications, shaping the industry's landscape for years to come.

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    Industrial Batteries Market Product Type Insights  

    The  Industrial Batteries Market is poised for significant growth, with a projected valuation of 20.9 USD Billion in 2024. This market is broadly segmented by Product Type, which includes Lead-Acid, Nickel-Based, Lithium-Based, and other variants. Among these, Lead-Acid batteries continue to play a crucial role due to their affordability and robust performance in various industrial applications, including back-up power systems and material handling equipment.

    Lithium-Based batteries are gaining traction, driven by their high energy density and efficiency, making them increasingly popular for renewable energy storage and electric vehicle applications.Nickel-Based batteries also hold a noteworthy position owing to their long life cycle and resistance to extreme temperatures, adding to their versatility across diverse industrial sectors. Other battery types contribute to niche applications, enriching the overall market landscape. The  Industrial Batteries Market statistics reflect a strong demand across sectors such as telecommunications, automotive, and renewable energy, primarily fueled by the shift towards cleaner energy sources and the growing need for reliable power solutions.

    This trend highlights the opportunities presented by evolving technologies and the expanding use of batteries in energy transition initiatives globally.

    Get more detailed insights about Industrial Batteries Market Research Report - Forecast to 2035

    Regional Insights

    The  Industrial Batteries Market revenue is witnessing notable growth across various regions, underscoring significant market dynamics. By 2024, the North America segment is valued at 5.21 USD Billion, establishing itself as a leader due to robust infrastructure and technological advancements, doubling in value to 11.18 USD Billion by 2035. Europe follows with a valuation of 4.61 USD Billion in 2024, driven by stringent environmental regulations promoting energy storage solutions, and it is anticipated to grow to 10.12 USD Billion.

    The Asia Pacific segment emerges prominently with a forecasted valuation of 7.35 USD Billion in 2024, primarily supported by rapid industrialization and demand for efficient energy management, projected to reach 15.92 USD Billion by 2035, making it a pivotal part of the  Industrial Batteries Market industry.South America, with a value of 1.72 USD Billion, and Middle East and Africa, valued at 1.20 USD Billion, are smaller yet vital contributors, reflecting opportunities for growth in renewable energy sectors and technological adoption in emerging markets.

    Overall, the  Industrial Batteries Market data reveals a diverse landscape shaped by regional trends, growth drivers, and evolving energy requirements, positioning this market segment for sustained expansion over the coming years.

    Industrial Batteries Market Regional Insights

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    Key Players and Competitive Insights

    The competitive insights of the  Industrial Batteries Market reflect a robust landscape characterized by diverse technologies, applications, and emerging trends. This market comprises manufacturers, suppliers, and distribution networks that evaluate and adapt to varying consumer needs while ensuring compliance with environmental regulations and standards. Companies are focusing on innovation, product development, and strategic partnerships to gain market share. As demand for energy storage solutions grows, particularly in sectors such as telecommunications, manufacturing, and renewable energy, market participants are strategically positioning themselves to enhance their competitive edge.

    Key players are leveraging technological advancements and market trends to stay ahead in a rapidly evolving environment.Enersys has established a strong foothold in the  Industrial Batteries Market, positioning itself as a leading provider of stored energy solutions. The company's extensive range of products includes valve-regulated lead-acid batteries, lithium-ion batteries, and a variety of power management systems. With a  reach, Enersys caters to various sectors such as telecom, data centers, and motive applications.

    Its strength lies in its commitment to innovation and customer service, enabling the company to meet the specific needs of its clients while ensuring high-quality performance and reliability of its products. Enersys has consistently invested in research and development, which empowers it to maintain a competitive advantage and respond effectively to the dynamics of the market.Exide Technologies plays a pivotal role in the  Industrial Batteries Market, known for its comprehensive range of energy storage solutions that include lead-acid and lithium batteries for diverse industrial applications.

    The company enjoys a solid market presence, bolstered by a reputation for high-quality manufacturing and innovative technology. Key products offered by Exide Technologies are designed to meet the needs of sectors including aviation, automotive, and industrial applications. The company's strengths lie in its well-established distribution network and customer-centric approach, allowing for effective service delivery and timely support. Additionally, Exide Technologies has pursued strategic mergers and acquisitions to enhance its technological capabilities and expand its product portfolio, further solidifying its position within the  landscape.

    By focusing on sustainable practices and advanced energy solutions, Exide continues to thrive in a highly competitive market.

    Key Companies in the Industrial Batteries Market market include

    Industry Developments

    • Q2 2024: CATL to Build $1.4 Billion Battery Plant in Hungary Contemporary Amperex Technology Co. Ltd. (CATL) announced plans to invest $1.4 billion in a new battery manufacturing facility in Debrecen, Hungary, aimed at supplying industrial and automotive clients across Europe.
    • Q2 2024: Panasonic Launches New High-Capacity Industrial Lithium-Ion Battery Panasonic unveiled a new high-capacity lithium-ion battery designed for industrial energy storage systems, targeting grid and backup power applications in North America and Europe.
    • Q2 2024: LG Energy Solution Signs $500 Million Supply Agreement with Siemens LG Energy Solution entered a multi-year, $500 million contract to supply industrial batteries for Siemens’ global automation and energy storage projects.
    • Q2 2024: BYD Opens New Industrial Battery Plant in Brazil BYD inaugurated a new manufacturing facility in Manaus, Brazil, to produce industrial batteries for renewable energy and telecom infrastructure markets in Latin America.
    • Q2 2024: EnerSys Acquires Industrial Battery Division of NorthStar EnerSys completed the acquisition of NorthStar’s industrial battery division, expanding its portfolio in the stationary and motive power battery segments.
    • Q3 2024: Samsung SDI and Stellantis Announce Joint Venture for Industrial Battery Production in the US Samsung SDI and Stellantis revealed a joint venture to build a new industrial battery manufacturing plant in Indiana, focusing on energy storage and heavy equipment markets.
    • Q3 2024: Saft Wins Major Contract to Supply Batteries for US Grid Storage Project Saft, a subsidiary of TotalEnergies, secured a contract to supply advanced lithium-ion batteries for a large-scale grid storage project in Texas.
    • Q3 2024: Exide Industries Launches New Range of Industrial Lead-Acid Batteries Exide Industries introduced a new series of high-efficiency lead-acid batteries for industrial backup and renewable energy storage applications.
    • Q4 2024: ABB Partners with Hitachi to Develop Next-Gen Industrial Battery Systems ABB and Hitachi announced a strategic partnership to co-develop next-generation industrial battery systems for smart grid and industrial automation markets.
    • Q4 2024: Leclanché Secures €100 Million Funding to Expand Industrial Battery Production Leclanché raised €100 million in new funding to expand its industrial battery manufacturing capacity in Switzerland and Germany.
    • Q1 2025: Toshiba Appoints New CEO to Lead Industrial Battery Expansion Toshiba named a new CEO, tasking him with accelerating the company’s growth in the industrial battery sector, particularly in energy storage and backup power.
    • Q1 2025: GS Yuasa Announces Opening of New Industrial Battery R&D Center in Japan GS Yuasa opened a new research and development center in Kyoto, Japan, dedicated to advancing industrial battery technologies for global markets.

    Future Outlook

    Industrial Batteries Market Future Outlook

    The Global Industrial Batteries Market is projected to grow at a 7.18% CAGR from 2024 to 2035, driven by advancements in energy storage technologies, increasing demand for renewable energy, and the rise of electric vehicles.

    New opportunities lie in:

    • Invest in R&D for next-gen battery technologies to enhance efficiency and lifespan.
    • Expand into emerging markets with tailored industrial battery solutions for local industries.
    • Develop strategic partnerships with renewable energy firms to integrate battery storage systems.

    By 2035, the market is expected to achieve substantial growth, reflecting robust demand and innovation.

    Market Segmentation

    Industrial Batteries Market Regional Outlook

    • North America
    • Europe
    • South America
    • Asia Pacific
    • Middle East and Africa

    Industrial Batteries Market Application Outlook

    • Telecommunication
    • Power Storages
    • Industrial Equipment
    • Electric Grid Storage
    • Other Applications

    Industrial Batteries Market Product Type Outlook

    • Lead-Acid
    • Nickel-Based
    • Lithium-Based
    • Others

    Report Scope

    Report Attribute/Metric Details
    Market Size 2023 19.28(USD Billion)
    Market Size 2024 20.9(USD Billion)
    Market Size 2035 44.81(USD Billion)
    Compound Annual Growth Rate (CAGR) 7.19% (2025 - 2035)
    Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    Base Year 2024
    Market Forecast Period 2025 - 2035
    Historical Data 2019 - 2024
    Market Forecast Units USD Billion
    Key Companies Profiled Enersys, Exide Technologies, Yuasa Battery, Ames True Temper, Saft, Varta AG, GS Yuasa, Contemporary Amperex Technology Co., Limited, Duracell, Johnson Controls, Trojan Battery Company, LG Energy Solution, East Penn Manufacturing Company, Samsung SDI, Panasonic
    Segments Covered Application, Product Type, Regional
    Key Market Opportunities Increasing renewable energy storage demand, Expansion in the electric vehicle sector, Advancements in battery technology, Growth in material handling applications, Rising focus on energy efficiency
    Key Market Dynamics Growing renewable energy demand, Rising adoption of electric vehicles, Technological advancements in energy storage, Increasing industrial automation, Government regulations and incentives
    Countries Covered North America, Europe, APAC, South America, MEA

    Market Highlights

    Author
    Chitranshi Jaiswal
    Research Analyst Level I

    In her 3 years of experience in the market research field, she has handled critical cross-domain projects. She has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.She holds an engineering degree and is an MBA professional from a well-known university, capable of evaluating the market and competitive conditions. An exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. Proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. Generated business through active client and project development, networking, and high-quality responses. Her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.

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    FAQs

    What is the expected market size of the Industrial Batteries Market by 2035?

    By 2035, the Industrial Batteries Market is expected to be valued at approximately 44.81 USD billion.

    What is the projected CAGR for the Industrial Batteries Market from 2025 to 2035?

    The projected CAGR for the Industrial Batteries Market from 2025 to 2035 is 7.19%.

    Which region is anticipated to hold the largest market share in the Industrial Batteries Market by 2035?

    The Asia Pacific region is anticipated to hold the largest market share, with a projected value of around 15.92 USD billion by 2035.

    What will the market size of the Power Storage segment be in 2035?

    In 2035, the Power Storage segment is expected to have a market size of approximately 13.92 USD billion.

    Who are the key players in the Industrial Batteries Market?

    Key players in the market include Enersys, Exide Technologies, Yuasa Battery, Saft, Varta AG, and LG Energy Solution.

    What market value is expected for the Telecommunication segment in 2035?

    The Telecommunication segment is expected to reach a market value of around 6.63 USD billion by 2035.

    How much is the Industrial Equipment segment expected to be valued at in 2024?

    In 2024, the Industrial Equipment segment is expected to be valued at approximately 4.85 USD billion.

    What is the projected market size for the North America region by 2035?

    The North America region is projected to have a market size of about 11.18 USD billion by 2035.

    What challenges are faced by the Industrial Batteries Market?

    The Industrial Batteries Market faces challenges such as competition from renewable energy sources and technological advancements.

    What is the expected market size for the Other Applications segment in 2035?

    In 2035, the Other Applications segment is expected to have a market size of approximately 4.66 USD billion.

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