Gel Battery Market Segmentation
Global Gel Battery Market has been segmented based on Type and Application. Based on type, the global market is divided into 2V, 6V, and 12V. The 12V segment is expected to hold the largest share within the global market during the forecast period. Increasing environmental concerns may be well served with advances in gel batteries. Moreover, 12V batteries have wide application in construction and other manufacturing industries.
Based on application, the market is segmented into electric mobility, energy storage & distribution, telecommunication, and others. Electric mobility is expected to hold largest share during the forecast period owing to rising demand for electric vehicles that uses advanced gel batteries for efficient power supply.
Market Highlights
Global Gel Battery Market is projected to reach USD 2.7 Billion by 2027, with 4.50% CAGR during the forecast period. In the current scenario, industries engaged in automotive, energy storage, telecommunication, consumer electronics, and others require gel battery for ensuring improved durability and smooth power supply. These advanced batteries are technically sufficient to upgrade the life span of a device. Gel batteries use only one way valves in place of open vents. Gel battery is less tolerant of high heat and are charged at lower power.
In 2019, North America dominated the gel battery market in terms of share: MRFR
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The gel battery market has been segmented into five regions, namely, Asia-Pacific, the Middle East & Africa, Europe, North America, and South America.
Asia Pacific is expected to hold the largest share of the market during the forecast period. Factors such as large population base and presence of key gel battery manufacturers in China, India, and Southeast Asian countries are driving the growth of these batteries in the Asia Pacific region.
Europe is expected to be the second-largest market for gel battery owing to the increasing deployment of advanced batteries in the consumer electronics and automotive sector.
In North America, countries such as US and Canada are significantly focusing on investment in battery energy storage systems to curb carbon emissions.
In the Middle East & Africa and South America, gel batteries are gaining exposure due to increasing urbanization.
Scope of the Report
This report provides an in-depth analysis of the global gel battery market, tracking two market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights the market size and share for North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global Gel Battery Market By Type, Application, and Region.
Gel Battery Market Key Players
The Key Players of the Global Gel Battery Market are C&D Technologies Inc., Canbat Technologies Inc., Leoch International Technology Ltd., JYC Battery Manufacturing Co.Ltd., B.B.Tech (Changsha) Co.,Ltd., Vision Group, Exide Technologies, BSB Power Company Limited, Leoch International Technology Limited Inc., Power Sonic Corporation, Storage Battery Systems, LLC., and others.
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