Rockville , April 12, 2023 (GLOBE NEWSWIRE) -- Industrial battery chargers Market is expected to grow from its 2023 valuation of US$ 2.3 billion to US$ 4.5 billion by the end of 2033. Industrial battery charger demand is expected to grow significantly at a CAGR of 7% between 2023 and 2033.
Industrial battery chargers are used to charge large battery banks that are used in a range of industries, including IT, telecom, and electricity. Large businesses need a consistent power supply because even a brief power outage could cause considerable losses. Batteries are frequently used to stop these things from happening.
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Due to increased technological advancement in battery-powered mobility, the energy and power industries, etc., energy storage is in extremely high demand. Industrial battery chargers are therefore highly sought after all around the world. Also, a growing demand for industrial battery chargers is fueled by the installation of new electrical infrastructure around the globe.
Report Attributes | Details |
| Forecast Period | 2023 - 2033 |
| Value Projection (2033) | US$ 4.5 Billion |
| Growth Rate (2023-2033) | 7 % CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 144 Tables |
| No. of Figures | 306 Figures |
Key Market Trends:
- The development of fast charging technology is a major trend in the industrial battery chargers market, as industries seek to reduce downtime and increase productivity.
- The use of wireless charging technology is increasing in the industrial battery chargers market, providing greater convenience and flexibility in charging. Moreover, IoT-enabled battery chargers are becoming more common in the industrial battery chargers market, providing real-time monitoring and control of charging processes.
- IoT-enabled battery chargers are becoming more common in the Industrial Battery Chargers Market, providing real-time monitoring and control of charging processes. This is helping industries optimize their battery usage and improve overall efficiency.
- Smart battery chargers that can adjust charging rates and optimize energy consumption are in high demand, as industries seek to reduce energy costs and improve efficiency.
- The industrial battery chargers market is witnessing a growing focus on sustainability, with manufacturers developing more energy-efficient and environmentally-friendly products.
There is a growing trend of integrating industrial battery chargers with renewable energy systems such as solar and wind power, to create more sustainable and efficient energy solutions.
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Key Companies Profiled in this Report
- Hitachi Ltd.
- EnerSys
- Exide Technologies
- Delta Q
- AMETEK Inc.
- GS Yuasa Corporation
- Crown Battery Manufacturing Company
- Lester Electrical
Drivers:
- Industrial battery chargers are commonly used for recharging the industrial battery. With the growing demand for electric vehicles, there is a corresponding increase in demand for industrial battery chargers to charge the batteries used in these vehicles. Moreover, The focus on energy efficiency and reducing energy costs is driving the demand for industrial battery chargers that are more efficient and can reduce energy consumption.
- Moreover, the increasing adoption of renewable energy sources such as solar and wind power is driving the demand for industrial battery chargers to store and manage the energy produced by these sources.
- Besides this, there is a high need for backup power in industries such as healthcare, data centers, and telecommunications. This is further driving the demand for industrial battery chargers to provide reliable and efficient backup power solutions.
- Apart from this, the increasing use of portable electronic devices such as smartphones, laptops, and tablets is driving the demand for industrial battery chargers to charge these devices.
Restraints:
- Industrial battery chargers can be expensive, which may discourage some companies from investing in them. Besides this, some industrial battery chargers have limited charging capacity, which can be a constraint for industries with high energy needs.
- Industrial battery chargers are typically dependent on grid power, which can be unreliable in some regions, leading to downtime and loss of productivity.
Regional Landscape:
- High need for industrial battery chargers is witnessed in the US due to the rapid expansion of IT and data centers. Moreover, the high adoption of IoT supports the expansion of IT and data centers.
- Moreover, the rising need for lead-acid batteries in the transportation industry is expected to boost the adoption of the market in Germany.
- Industrial battery charger adoption in China is expected to increase due to the rise in manufacturing activities and the high need for green energy solutions.
Competitive Landscape:
Key companies in the market are focusing on various strategies such as new developments, quality control, and acquisitions to maintain a sustainable share in the market.
- For instance, Hyster-Yale Group launched a new line of battery chargers for electric lift trucks in February 2021. The new chargers are designed to be more efficient and offer improved performance compared to previous models.
- Besides this, Delta-Q Technologies announced the launch of its new RC900 and RC1200 industrial battery chargers in March 2021. The new chargers are designed for use in a wide range of industrial applications and offer improved reliability and efficiency.
- Green Cubes Technology announced the launch of its new GC-PM charger series in July 2021. The new chargers are designed for use in a wide range of industrial applications and offer improved efficiency and flexibility.
Key Segments of Industrial Battery Chargers Industry Research
- By Technology :
- Ferroresonant Chargers
- High-frequency Chargers
- Hybrid Chargers
- SCR Chargers
- By Battery Rated Voltage :
- Up to 24V
- 48V
- 60V
- 110 V
- Above 110V
- By Output Charging Current :
- 15A to 50A
- 51A to 150A
- 151A to 250A
- 251A to 500A
- Above 500A
- By Power Rating :
- Up to 5KW
- 5KW to 15KW
- 10KW to 15KW
- Above 15KW
- By Battery Type :
- Lithium Batteries
- NiCd Batteries
- Plante Batteries
- Sealed Lead Acid (SLA) Batteries
- By Configuration :
- Dual FCBC
- FC & BC
- FC & FCBC
- FCBC
- By End Use :
- Energy & Power
- Infrastructure
- IT & Data Centers
- Manufacturing
- Marine
- Mining
- Oil & Gas
- Railways
- Telecommunications
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global all Industrial Battery Chargers Market, presenting market forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of Technology (Ferroresonant Chargers, Hybrid Chargers, SCR Chargers), Battery Type (Lithium Batteries, NiCd Batteries, Plante Batteries), Configuration, By Power Rating, By Battery Rated Voltage, and across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).
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