Chinese industrialization

Industrial Batteries Market to Reach $30.8 Bn, Globally, by 2030 at 13.2% CAGR: Allied Market Research

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Wednesday, August 4, 2021

Industry in China, Chinese industrialization, Economic history of the People's Republic of China, Industrial history of China, Manufacturing in China, Rechargeable batteries

PORTLAND, Ore., Aug. 4, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Industrial Batteries Market by Type (Lithium-Ion Battery (Lithium Cobalt Oxide, Lithium Magnesium Oxide, Lithium Titanite, and Others), Nickel-based, and Lead-based) and Application (Telecom & Data Communication, Uninterruptible Power Supply (UPS), Energy, Equipment, Grid Storage, and Others (Railways, Utility, and Security)): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global industrial batteries industry was estimated at $9.0 billion in 2020, and is anticipated to hit $30.8 billion by 2030, registering a CAGR of 13.2% from 2021 to 2030.

Key Points:

Surge in annual deployment capacities and stringent government regulations aimed at controlling the surging pollution drive the growth of the global industrial batteries market.
Get detailed COVID-19 impact analysis on the Industrial Batteries Market: https://www.alliedmarketresearch.com/request-for-customization/12202?req...
By application, the telecom and data communication segment accounted for the highest share in 2020, contributing to more than one-fourth of the global industrial batteries market.
By region, the region across Asia-Pacific held the major share in 2020, generating more than one-third of the global industrial batteries market.
Rapidly increasing industrialization in China and India have fostered the industrial batteries market growth in the recent years.