According to a new market report published by Credence Research, Inc., “Global Industrial Battery Chargers Market (By Technology Type (Ferroresonant, SCR, High Frequency and Hybrid), By Battery Type (SLA, NiCd, Plante Battery and Lithium Battery), By Battery Voltage (Upto 24V, 24V-48V, Above 48V), By Output Current (Upto 50A, 51A-150A, 151A-250A, 251A-500A, Above 500A), By End-use Industry (IT & Data Centre, Energy & Power, Transportation, Telecommunications, Oil and Gas, Metal and Mining) – Growth, Future Prospects and Competitive Landscape, 2019 – 2027”, the global industrial battery chargers market is expected to witness a growth of 8.14% CAGR across the forecast period of 2019 to 2027.
The global industrial battery chargers market is projected to reach at US$ 3.42 Bn in 2027, expanding at a CAGR of 8.14% across the forecast period of 2019 to 2027. Batteries are considered to be a clean and efficient source of power supply. From last decade, industries such as telecom, IT and data center, energy and power are growing at a faster rate. With this growth, the demand for industrial battery chargers is high as industrial batteries are one of the crucial equipment of power source in these end-use sectors. Globally, there is an increase in the development of power distribution and the infrastructure in energy sector. Also, governments of many countries are charting policies for sustainable development using clean energy sources. For instance, “The American Renewable Energy and Efficiency Act” of U.S.A. states that the country needs to obtain 25% of electricity from renewable energy source and the implementation of energy savings programs in electric and natural gas utilities that would save 15% and 10% on sales respectively by 2025. Such regulations have facilitated the growth of industrial battery chargers in the U.S., which in turn is supporting the market growth in the region.
Energy consumption of data centers is around 200TWh every year, which accounts almost 1% of total electricity demand across the globe. Additionally, data center has contributed about 0.3% of the overall carbon emission worldwide. These facts have made data center one of the reasons for environmental degradation. With the rise of IoT, the market share of data centers is expected to increase rapidly in the coming years. In order to keep data centers working continuously, large number of batteries are deployed and used to achieve the required power.
Industrial battery chargers market, based on technology type was dominated by ferroresonant technology in 2018. This type of charger has no electronic control unit which makes it dependable and durable. In addition to this, long term serviceability of ferroresonant chargers is ideal for users in industries such as telecommunication, energy and power, etc. These advantages offered by ferroresonant technology chargers are ideal for industries including oil and gas, metal and mining, etc.
In terms of geography, North America held the largest share in industrial battery chargers market in 2018. The presence of large number of industry players such as Crown Battery Manufacturing and Ametek Inc. in North America is supporting the regional growth. Also governments of countries such as U.S. and Canada are supportive in developing renewable energy sector. For instance, Quebec Energy policy, 2030 of Canada has adopted a goal to build sustainable economy with low carbon and energy efficient solutions.
Some of the major players profiled in industrial battery chargers market includes ABB Ltd., Exide Technologies, EnerSys, GS Yuasa Corporation, Ametek, Inc., Crown Battery Manufacturing, Hitachi Ltd., Delta Q Technologies Corporation, Sevcon, Lester Electrical, Kirloskar Electric Company, AEG Power Solutions Ltd., Motor Appliance Corporation, Schumacher Electric Corporation etc. among others. These players are adopting various strategies such as new product launch and partnership with other players to increase their market share.
For instance, in November 2018, Toyota Material Handling, U.S.A., the manufacturer of industrial lifts and material handling equipment, has declared that battery and chargers of EnerSys will be available in their STARLIFT Parts Program. This program offers lifts and material handling equipment in North America. Moreover, in October 2018, Delta Q Technologies Corporation launched its new charger RC1000 in its RC Series. The RC1000 charger has enhanced reliability and charging quality when used in electric vehicles and commercial machines.
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