What is Global Storage Battery for Power Supply Market?
The Global Storage Battery for Power Supply Market is a vast and dynamic sector that plays a crucial role in the world's energy infrastructure. This market involves the production, distribution, and use of storage batteries designed to provide power supply. These batteries are essential components in various systems and applications, ranging from small-scale electronics to large-scale power grids. They store energy and deliver it when needed, ensuring a reliable and consistent power supply. The market's value is determined by the demand for these batteries, which is influenced by factors such as technological advancements, energy consumption trends, and government policies. The global market was worth US$ 6790.4 million in 2023 and is projected to reach a staggering US$ 29330 million by 2030. This impressive growth is a testament to the increasing reliance on storage batteries for power supply in various sectors worldwide.
by Battery Type, Li-ion Battery, Pb Battery, Others, by Voltage Range, Up to DC 50 V, DC 50 V to 300 V, DC 300 V to DC 750 V, Others (Beyond 750 V) in the Global Storage Battery for Power Supply Market:
The Global Storage Battery for Power Supply Market is segmented based on battery type, voltage range, and application. The battery types include Li-ion Battery, Pb Battery, and others. Each type has its unique features and applications, contributing to the market's diversity. The voltage range is categorized into Up to DC 50 V, DC 50 V to 300 V, DC 300 V to DC 750 V, and Others (Beyond 750 V). These ranges cater to different power requirements, making the market versatile and adaptable. The market also caters to various sectors such as Utilities, Communications, Railway Communication, and others. Each sector has its specific power supply needs, and the market strives to meet these needs with its wide range of products.
Utilities, Communications, Railway Communication, Others in the Global Storage Battery for Power Supply Market:
The Global Storage Battery for Power Supply Market plays a significant role in various sectors. In the Utilities sector, these batteries ensure a steady power supply, contributing to efficient operations and service delivery. In the Communications sector, they power devices and systems that facilitate information exchange, making communication seamless and reliable. In Railway Communication, these batteries are essential in powering communication devices and systems that ensure safe and efficient railway operations. The market also caters to other sectors with specific power supply needs. The versatility and adaptability of the market make it a vital component of the global energy infrastructure.
Global Storage Battery for Power Supply Market Outlook:
Looking at the market outlook, the Global Storage Battery for Power Supply Market has shown impressive growth over the years. In 2023, the market was valued at US$ 6790.4 million. This value is projected to skyrocket to US$ 29330 million by 2030, indicating a Compound Annual Growth Rate (CAGR) of 19.2%. This growth is driven by the increasing demand for storage batteries in various sectors. In terms of product, the beyond 10 KW to 100 KW segment holds the largest share, accounting for over 28% of the market. This dominance is a testament to the segment's crucial role in the market and its significant contribution to the market's overall value.
| Report Metric | Details |
| Report Name | Storage Battery for Power Supply Market |
| Accounted market size in 2023 | US$ 6790.4 million |
| Forecasted market size in 2030 | US$ 29330 million |
| CAGR | 19.2% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| by Product Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | LG hem, EnerSys, GS Yuasa Corporate, Shandong Sacred Sun Power Sources Co. ltd., Samsung SDI, Hoppecke, Toshiba, Kokam, Gotion, Inc. |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
