Industrial batteries refer to battery products that provide electricity specifically for industrial equipment and equipment. Compared with ordinary batteries, industrial batteries have higher voltage, capacity, and safety performance, and can be used in larger and more difficult working environments. It is commonly used as the main or backup power source in fields such as ships, airplanes, and electric vehicles. In addition, industrial batteries can also customize cell structures according to the requirements of different application fields to meet the energy needs of different devices.

Overview of Market Development

The global industrial battery market has developed rapidly in recent years, with the market size continuously expanding. With the rapid development of electric vehicles, energy storage, and other fields, the demand for industrial batteries in the market continues to grow. In terms of technology, the energy density of industrial batteries is constantly increasing, and the charging speed is also accelerating, which makes the application of industrial batteries more widespread in various fields.

According to our research data, the global industrial battery market revenue reached $19.86 billion in 2023, an increase of 6.76% compared to 2022. It is expected that the global industrial battery market will continue to maintain a steady growth trend in the coming years. With the continuous progress of technology and the expansion of the market, the demand for industrial batteries will continue to rise year by year. Meanwhile, with the increasing awareness of environmental protection, the industrial battery industry will also pay more attention to environmental protection and sustainable development. It is expected that the global industrial battery market revenue will increase to $27.94 billion by 2028.

Segmented Market Analysis

From the perspective of product types, the global industrial battery market mainly contains lead-acid batteries, lithium-based batteries, and nickel-based batteries. Among them, lead-acid batteries dominate the market. According to our data, the global lead-acid battery segment market revenue in 2023 was $13.83 billion, with a market share of 69.63%.

From the perspective of downstream applications, the application of industrial batteries involves multiple fields such as industrial equipment, data communication, uninterruptible power supplies (UPS), and grid-level energy storage. Among them, the industrial equipment field is the largest downstream application market, with an application share of 39.56% in 2023.

Source: www.globalmarketmonitor.com

Market Analysis of Major Regions

From a regional perspective, the global industrial battery market is mainly concentrated in North America, Europe, and the Asia Pacific region. Among them, the Asia Pacific region is the largest revenue market. Data shows that in 2023, the industrial battery market revenue in the Asia Pacific region was $7449 million, with a market share of 37.52%; The North American and European markets ranked second and third with 27.15% and 25.22% respectively.

Global Industrial Battery Market Revenue and Share by Region in 2023

For more industry information, please refer to our latest released "2023 Global Industrial Battery Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast".