According to the latest report by IMARC Group, titled “Gel Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global gel battery market. The global gel battery market size reached US$ 2.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.7 Billion by 2028, exhibiting a growth rate (CAGR) of 4% during 2023-2028.
A gel battery represents a valve-regulated lead-acid battery with a jellied electrolyte. It comprises silica that makes the electrolyte set up or stiffens the battery. A gel battery is durable and lightweight, has a longer lifespan, can withstand extreme temperature ranges, etc., as compared to conventional batteries. In line with this, it is suited for the deep-cycle application and widely used in places without ventilation. A gel battery is usually maintenance-free and vibration resistant in nature. It also offers various benefits, such as enhanced safety, owing to the greater resistance to shock, reduced risk of sulphuric acid burns, lower rate of evaporation, etc. Consequently, a gel battery is extensively utilized in marine trolling, solar systems, sailboats, uninterrupted power systems (UPS), emergency lighting, etc.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Gel Battery
Market Trends:
The increasing demand for solar power devices to offer backup during power outages in remote areas is primarily driving the gel battery market. Additionally, the launch of numerous favorable policies by government bodies for promoting the usage of renewable energy sources via incentives, price concessions, tax credits, etc., on solar panel components is further catalyzing the market growth. Besides this, the growing consumer concerns towards the negative impact of fuel-based vehicles on the environment are propelling the adoption of gel batteries in EVs, public transportation, aircraft, etc., which is acting as another significant growth-inducing factor. Moreover, the inflating need for electric wheelchairs, on account of the rising prevalence of neurological disorders and the expanding geriatric population who are more susceptible to developing orthopedic conditions, is anticipated to fuel the gel battery market over the forecasted period.
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Gel Battery
Market 2023-2028 Analysis and
Segmentation:
Competitive
Landscape:
The competitive landscape
of the market has been studied in the report with the detailed profiles of the
key players operating in the market.
B.B. Battery, BSB Power Company Limited,
C&D Technologies Inc., Canbat Technologies Inc., Exide Technologies,
Exponential Power Inc., JYC Battery Manufacturer Co. Ltd., Leoch International
Technology Limited Inc., Power-Sonic Corporation and Vision Group.
The report has segmented
the market on the basis on region, disc type, material type and end user.
Breakup
by Type:
·
2V
·
6V
·
12V
Breakup
by Distribution Channel:
·
Online
·
Offline
Breakup
by Application:
- Electric Mobility
- Energy Storage and Distribution
- Telecommunication
- Others
Breakup
by Region
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
· Middle
East and Africa
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Analyst for Customization and Explore Full Report with TOC & List of
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Key
highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2023-
2028)
- Porter’s Five Forces
Analysis
- Market Drivers and
Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping
of the Competitive Landscape
If you need specific
information that is not currently within the scope of the report, we can
provide it to you as a part of the customization.
If you want latest primary
and secondary data (2023-2028) with Cost Module, Business Strategy,
Distribution Channel, etc. Click request free sample report, published report
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