The key players operating and profiled in the gel battery market include 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), and Vision Group (Vision).
Other players in the value chain of the gel battery market include Coslight India Telecom Pvt. Ltd., Dynavolt Renewable Energy Technology Co., Ltd., Exide Industries Limited, Microtex Energy Private Limited, The Furukawa Battery CO., LTD., KAYO Battery (Shenzhen) Company Limited, Jayachandran Industries (P) Ltd, AGM Technology, Suntech Batteries, Chilwee Group CO.,LTD, and others.
The gel battery market size is projected to surpass $2.6 billion by 2027, growing at a CAGR of 4.2% from 2020 to 2027.
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Important Factors in gel battery market
Depending on the type, the 12V battery segment is projected to grow at a CAGR of nearly 4.3%, in terms of revenue, during the forecast period
Region wise, North America is expected to register a CAGR of nearly 3.4%, in terms of revenue, in the coming future
By application, the energy & distribution segment is estimated to exhibit a CAGR of 4.6%, in terms of revenue
Asia-Pacific dominated the gel battery market with a share of over 39.9% in 2019, in terms of revenue
A comprehensive analysis of the factors that drive and restrain the market growth is provided in the report
The qualitative data in this report aims at the market dynamics, gel battery market trends, and developments in the industry.
Depending on type, the market is categorized into 2V, 6V, and 12V. Various applications of gel battery studied in the market include electric mobility, energy storage & distribution, telecommunication, and others.
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The gel battery market is driven owing to its adoption in numerous applications such as telecommunication, uninterrupted power supply (UPS), and others. This is attributed to its beneficial specifications such as less maintenance, leakage proof, high compatibility with sensitive electronic equipment, lowest cost-per-month, and others.
Gel battery has pre-determined quantity of an electrolyte, together with sulphuric acid and silica fumes. It is one of the types of valve regulated lead acid (VRLA) battery. Gel battery is used in numerous applications such as electrification, hybrid power systems, navigational aids, mobile phones, motorcycles, camcorders, marine equipment, and others.
COVID-19 Scenario:
The COVID-19 outbreak has enormously impacted the gel battery market. The disrupted industrial activities all over the globe have resulted in reduced demand for energy storage requirements.
Cleaning machines and internet broadband devices uses gel batteries for their operation. Growing demand for these devices is expected to increase the demand for gel batteries during the lockdown period.
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