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Introduction of New Chemistries and Applications Aids Development of Global Industrial Batteries Market, Finds Frost & Sullivan

7 pages
Introduction of New Chemistries andIntroduction of New Chemistries and Applications Aids Development of Global Industrial Batteries Market, Finds Frost & Sullivan PR Newswire SINGAPORE, Oct. 23, 2013 - Strong demand in the long term will arise from advanced grid-level energy storage applications The global industrial batteries market is evolving rapidly as the trend toward sustainability leads to the introduction of new battery chemistries and applications, focusing on increasing battery energy density and battery life. Expanding product portfolio in new applications and battery chemistries and exploring newer geographies will be crucial to achieve growth since the market is likely to witness strong competition as companies try to increase their global presence. New analysis from Frost & Sullivan (http://www.powersupplies.frost.com) Global Industrial Batteries Market, finds that the market earned revenues of US$15.36 billion in 2012 and estimates this to reach US$21.98 billion in 2017. Of the different end-user segments, which includes telecom and data communication, uninterruptible power supply, industrial equipment, medical devices, aerospace and defense, telecom and data communication as well as grid level energy storage are expected to be key growth sectors. Asia- Pacific will be the biggest regional market.
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Introduction of New Chemistries and Applications Aids Development of Global Industrial Batteries Market, Finds Frost & Sullivan

PR Newswire

Strong demand in the long term will arise from advanced grid-level energy storage applications

The global industrial batteries market is evolving rapidly as the trend toward sustainability leads to the introduction of new battery chemistries and applications, focusing on increasing battery energy density and battery life. Expanding product portfolio in new applications and battery chemistries and exploring newer geographies will be crucial to achieve growth since the market is likely to witness strong competition as companies try to increase their global presence.