Global Industrial Battery Chargers Market Growth by 2028

Posted by Arslan on July 12th, 2019

In order to dissert the market scenario prevailing across the global industrial battery chargers market sector, FactMR has evenly presented a comprehensive global industrial battery chargers market analysis to its extensive online repository. With all vital market facets enclosed into this single assessment, readers can learn about different market drivers, opportunities and trends which are likely to influence the overall market space for the global industrial battery chargers market in the coming years. In addition, factors such as market size, Y-o-Y growth and revenue share are investigated so as to make this research highly authentic and reliable.

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Industrial Battery Charger Market in Numbers

• Industrial battery charger sales were valued at ~US$ 1.6 Bn in 2018, in line with the growing trend of rechargeable batteries, and the subsequent rise in demand from the energy & power industry.
• The market for industrial battery charger is projected to register ~8% CAGR through 2028, primarily driven by the significant growth in transmission and distribution infrastructure, further backed by high replacement rate of aging power infrastructure.
• Industrial battery charger market in Asia Pacific excluding Japan (APEJ) will represent high market attractiveness, prominently banking on the rapid expansion of rail networks. The demand for industrial battery charger from Indian railways has been particularly notable, over the recent past.
• Growing criticality of alternative power sources in light of constant depletion of non-renewable sources, will remain an important factor triggering installations of industrial battery products, including industrial battery chargers.

Competition Landscape – Industrial Battery Charger Market

According to the latest FactMR study, the competition in industrial battery charger market is characterized by a large number of smaller companies, which collectively hold 60% share in the global market revenues. Leaders, such as ABB Ltd, Exide Technologies, and Enersys are emphasizing improved R&D to accelerate new launches, and eventually boost their global presence. To achieve enhanced regional and global foothold in the industrial battery charger market, companies are observed to have adopted effective product innovation strategies. With growing focus on strengthening sales via direct distribution, notable industry players continue to have a strong market footprint, regionally and globally.

New product developments (NPDs) will continue to be among the key winning imperatives, governing brand repositioning strategies of leading players in the industrial battery charger market. While a majority of NPDs are customer-centric and thus revolve around evolving end-user preferences, this has been rapidly emerging as an effective strategy for a better competitive edge. For instance, EnerSys, a leading player in the industrial battery charger industry, has recently launched a new range of forklift battery chargers, which are technically the advanced on-board chargers, allow for recharging of forklift motive power batteries anytime and anywhere. These battery chargers can turn a lift truck into a portable charging room.

In addition, strategic collaborations and M&A have been cited as the preferred competition strategies adopted by industrial battery charger market players. Several companies are entering strategic partnerships and forming joint ventures with regional players. By augmenting investments in joint ventures with regionally leading distribution partners, market participants are also likely to consider regional expansion as a preferred strategy in the near future. For instance, in March 2019, Hitachi, Ltd. announced establishment of its brand new headquarter in the Oceania region, reinforcing its business within the region.

Industrial Battery Charger Market – Research Methodology

An accurate methodology and holistic approach forms the base of the incisive insights presented in the industrial battery charger market. The FactMR study offers in-depth information related to the growth forecast of industrial battery charger industry and a systematic breakdown of the key factors that are influencing the growth of the market. Comprehensive primary and secondary research has been performed to present actionable insights on the industrial battery charger market forecast. The report on industrial battery charger market has also gone through several authentication tunnels to ensure the uniqueness of provided insights and other information that have been included in the report.