DUBLIN–(BUSINESS WIRE)–The “Gel Battery Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2020-2027” report has been added to ResearchAndMarkets.com’s offering.
The global gel battery market was valued at $1.8 billion in 2019, and is projected to reach $2.6 billion by 2027, growing at a CAGR of 4.2% from 2020 to 2027.
A gel battery is one of the types of valve regulated lead acid (VRLA) battery. It is maintenance free, as well as versatile. Gel battery produces less fumes and can be used in applications without much ventilation. The electrolyte in the gel battery comprises a silica additive. Its recharge voltages are less than the other kind of lead acid batteries.
The gel battery market is driven by its numerous favorable characteristics such as less maintenance, leak proof, excellent operational ability in different temperature range, no terminal corrosion, and others. However, availability of alternative and sensitivity to overcharging are some of the factors expected to hinder market growth during the forecast period. Lithium-ion battery and absorbent glass mat (AGM) battery are some of the major competition for gel battery market. On the contrary, countries in the developing regions cannot afford lithium-ion batteries, owing to its high prices as compared to gel batteries, which is expected to propel market growth and provide lucrative opportunity during the forecast period.
The global gel battery market is segmented into type, application, and region. Depending on type, the market is classified into 2V, 6V, and 12V. By application, it is fragmented into electric mobility, energy storage & distribution, telecommunication, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
- The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the market from 2020 to 2027 determine the prevailing opportunities.
- A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
- The market size is provided in terms of revenue.
- Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- Profiles of leading players operating in the market are provided to understand the competitive scenario.
- The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable growth.
- Cost Effective as Compared to Other Batteries
- Ease of Recyclability Associated With Valve Regulated Lead Acid (VRLA) Batteries Over Lithium-Ion Batteries
- Availability of Alternatives in the Market
- Need to Expand Data Centers
Key Market Players
- Exide Technologies (Exide)
- BSB Power Company Limited.
- Leoch International Technology Limited Inc.
- Power Sonic Corporation (PS Corporation)
- Storage Battery Systems, LLC (SBS LLC)
- Canbat Technologies Inc. (Canbat)
- C&D Technologies, Inc., (C&D)
- JYC Battery Manufacturing Co., Ltd.
- B.B. TECH (Changsha) Co., Ltd. (B.B. TECH)
- Vision Group (Vision)
For more information about this report visit https://www.researchandmarkets.com/r/5c6f8a
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