More than 1.3 million industrial battery chargers were sold in 2018, according to a recent market research intelligence presented by Future Market Insights (FMI). The study projects a strong increase of over 7% in the procurement of industrial battery chargers in 2019.
As industrialization continues to generate ever-growing demand for energy storage, industrial battery chargers are likely to witness heavy adoption. More than 35% of the global demand for industrial battery chargers is accounted for by IT & data center, and energy & power industries, as indicated by FMI’s analysis.
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SLA (sealed lead acid) batteries, representing a dominant market value share, will face strong competition from NiCd (Nickel-Cadmium) and plante batteries in the coming years.
FCBC (float boost) and dual FCBC configurations are likely to emerge highly lucrative for industrial battery charger manufacturers.
Hybrid technology industrial battery chargers will reportedly emerge as the most attractive segment in the industrial battery chargers market, within the next few years.
Favorable Government Initiatives to Accelerate Adoption of Industrial Battery Chargers
An increase in the energy distribution and transmission infrastructure backed by the favorable governmental regulatory framework, and the flourishing trend of sustainability through non-conventional alternatives as energy sources are playing a vital role in establishing a strong adoption base for industrial battery chargers.
“The rate of industrial battery chargers’ procurement will significantly take off as electrification continues to receive strong governmental support. The mounting pace of the smart grid adoption across industries will remain another key factor encouraging a preference for industrial battery chargers in the years to come,” says a senior market research professional at FMI.
Subsidies offered by regional and local governments for procurement of energy systems based on alternative sources at economical capital costs are strongly backed by climbing new grid sales, which necessitate the deployment of secondary or rechargeable batteries for energy transmission and distribution. FMI’s report opines that this will play a pivotal role in encouraging sales of industrial battery chargers shortly.
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Asian & European Economies to Lead in Industrial Battery Chargers Market
Chinese and Indian industrial sectors continue to generate substantial demand for industrial battery chargers for a plethora of energy solutions. This according to the report is prominently pushing the growth of the industrial battery chargers market in APEJ. According to the report, APEJ currently holds almost a fourth of the total revenue of the industrial battery chargers market.
In the light of significant efforts taken by European governments in the popularization and adoption of sustainable energy alternatives, the demand for industrial battery chargers will likely be notable in Europe, which currently accounts for just under a fourth of the global demand.
Although European countries leading the way for the increasing usage of renewable energy, developing countries are expected to emerge as game changers, looking at the rapidly improving emission patterns.
Industrial Battery Chargers Market: Segmentation
- High-Frequency Chargers/Switch Mode Based
- SCR (Silicon Controlled Rectifier)/ Thyristor Based
- Hybrid (SCR + Ferroresonant)
Battery Rated Voltage
- Up to 24V
- Above 110V
Output Charging Current
- Above 500A
- SLA Batteries
- NiCd Batteries
- Plante Batteries
- Lithium Batteries
- FC & BC (Float and Boost)
- FC & FCBC (Float and Float cum Boost)
- Dual FCBC (Dual Float cum Boost)
- FCBC (Float cum Boost)
- Energy and Power
- IT and Data Centers
- Oil & Gas
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ (Asia Pacific Excluding Japan)
- Middle East & Africa
Vendor Insights: Key Companies to Remain Focused on Innovation in Terms of Efficiency
The industrial battery chargers market has been cited as a fairly consolidated competition landscape. In addition to high-efficiency, easy-to-use, and easy-to-install industrial battery chargers, the prominent companies in the industrial battery charger market are focusing on their capabilities to cater to diverse specifications of a wide range of operational requirements.
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Moreover, high compatibility with harsh environmental conditions has emerged as a lucrative trend among leading providers of industrial battery chargers, which could potentially offer them a competitive edge over others in the industrial battery charger market.
The UK’s Battery Service Hub (BSH) has been delivering industrial batteries, industrial battery chargers, and a range of charging solutions for an extensive range of equipment such as forklift trucks, EVs, access platforms, floor cleaning machines, and others. The company is expected to maintain the focus on delivering high-performance, efficient battery charging profiles. BSH is cited as an important player in the rental battery charging solutions landscape.
The US-based EnCharge Power Systems announced the introduction of remote monitoring solutions for industrial battery charging, which allow ready remote access to real-time data.
Storage Battery Systems, LLC (SBS) recently announced the partnership with Systems Sunlight S.A., over the soon-to-be-launched battery technologies. With an increasing number of novel, sustainable battery technologies introduced in the market frequently, the key players will likely augment R&D investments for the innovation of new battery charging technologies.
Some of the major companies active in the industrial battery charger market have been covered in FMI’s report, including ABB Ltd., Hitachi Ltd, Exide Technologies, EnerSys, Delta Q, Gs Yuasa International Ltd., AMETEK. Inc, Sevcon, Crown Battery Manufacturing Company, Lester Electrical, AEG Power Solutions, and Kirloskar Electric Company among others.
For exclusive insights on the various other factors influencing the growth of the industrial battery chargers market at a global level, write in to firstname.lastname@example.org