Global gel battery market is anticipated to experience a progressive growth during the forecast period mainly due to various benefits offered by gel batteries over traditional batteries. By application, the 2V segment is predicted to dominate the global industry by the end of 2027. The North America gel battery market is projected to maintain its dominance and create enormous growth opportunities by 2027.
Research Dive has added a new research report to its offerings title, “Gel Battery Market, by Application (2V, 12V, and 6V), End-Users (Power, Renewable Energy, EPS & UPS, Communications, Others): Global Opportunity Analysis and Industry Forecast, 2020–2027,” the global gel battery market is estimated to reach up to US$ 2,580.0 million and rise at a CAGR of 4.3% during the forecast period from 2020 to 2027.
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The North America region is predicted to play a dominant position in the global gel battery market in terms of revenue share majorly due to the extensive usage of gel battery in the region, especially in the U.S. owing to its power capacity, low maintenance, removal of gassing, and enhanced health.
Key Segment Takeaways of the Market:
The report segments the global gel battery market by Applications, End Users, and Region.
• Based on applications, the global market is categorized into 2V, 12V, and 6V. Of these, the 2V segment is expected to dominate the gel battery market during the forecast period mainly because it guarantees potentially the best operating lifespan of any battery.
• Based on end-users, the overall gel battery market is classified into renewable energy, power, communications, EPS & UPS, and others. Of these, the renewable energy segment is predicted to lead the market by the end of 2027 majorly because it generates energy without any gas emissions and thereby assists in reducing air pollution.
• Geographically, the Asia Pacific gel battery market is anticipated to grow at a significant rate in the estimated timeframe owing to the growing development in infrastructure, technology, and economy in the region.
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• Market Dynamics
The gel batteries are increasing in demand over the traditional batteries mainly due to several benefits such as durability, and low maintenance cost. In addition, gel batteries are environmental friendly which promotes cleaner transport and saves fuel. These factors are expected to boost the growth of the global gel batteries market during the forecast period. However, the gel batteries are needed to be charged as slower pace to avoid wastage and thus, overcharging can permanently damage the batteries, which is a major threat for the market growth. Furthermore, the ongoing technological advancements in gel batteries to cut costs and improve the quality of gel batteries are likely to create lucrative growth opportunities for the global market in the estimated timeframe.
• Major Players of the Market
The key players operating in the global gel battery market include EnerSys, Exide Industries Ltd., Shandong Sacred Sun Power, Huafu Top Dyed Melange Yarn Co. Ltd., FIAMM, HOPPECKE Batterien GmbH & Co. KG, LEOCH, Dynavolt Renewable Energy Technology Co. Ltd., Coslight India Telecom Pvt. Limited., and Candid Technologies. Further, the report outlines various aspects of all these market players such as SWOT analysis, product portfolio, financial performance, and recent strategic moves & developments.
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