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Industrial Batteries Market Summary

The Global Industrial Batteries Market Size Was Estimated at USD 21.12 Billion in 2024 and is Projected to Reach USD 48.42 Billion by 2035, Growing at a CAGR of 7.83% from 2025 to 2035. The market for industrial batteries is expanding because of the growing need for dependable energy storage, the growing use of renewable energy and electric vehicles, the development of battery technology, the expansion of industrial automation, and government incentives supporting clean energy and sustainability in a number of industries.

Key Regional and Segment-Wise Insights

• In 2024, the Asia Pacific held the largest revenue share of over 34.2% and dominated the market globally.
• In 2024, the lead-acid segment had the highest market share and led the market by type, accounting for 46.8%.
• In 2024, the motive power segment had the biggest market share and led the market by application, accounting for 31.5%.

Global Market Forecast and Revenue Outlook

• 2024 Market Size: USD 21.12 Billion
• 2035 Projected Market Size: USD 48.42 Billion
• CAGR (2025-2035): 7.83%
• Asia Pacific: Largest market in 2024

The industrial batteries market consists of companies that create and distribute batteries, which primarily serve industrial equipment, including heavy machinery, electric vehicles, backup power systems, and renewable energy storage systems. These batteries exist to maintain nonstop operations throughout manufacturing facilities, telecommunications systems, and transportation networks because they provide both substantial power capacity and durability and reliability. The industry advances because of industrial growth alongside stable electricity requirements and the rapid adoption of electric vehicles and renewable energy systems. The market expands through increased environmental awareness and carbon emission reduction efforts, which motivate businesses to pursue sustainable battery solutions that maximize energy efficiency.

The industrial battery market continues to experience fundamental changes because of technological innovations that provide enhanced energy density and faster charging, and extended battery lifespans through lithium-ion, solid-state, and flow battery advancements.  Smart grid interconnection and improved battery management systems (BMS) play a key role in enhancing battery safety and performance. The global adoption of advanced industrial batteries increases through government programs that provide tax breaks and subsidies alongside regulations to support sustainable energy and electric mobility. The market is projected to sustain robust expansion during the next years because of both R&D funding along legislative support for renewable energy integration.

Type Insights

The lead-acid segment dominates the industrial batteries market with the largest revenue share of 46.8% in 2024. The industrial applications of lead-acid batteries dominate this market segment because of their proven technology combined with cost-effectiveness and reliability. The industrial applications of lead-acid batteries include power backup systems and material handling equipment, and uninterruptible power supplies (UPS) because they provide cost-effective solutions with extended service life. The proven performance of lead-acid batteries in demanding applications, together with their recyclability, makes them the preferred choice over newer battery technologies. The industrial batteries market continues to favor lead-acid batteries because the segment benefits from established manufacturing systems and ongoing technological progress that enhances charging speed and extends battery lifespan.

The industrial battery market's lithium-based segment is projected to demonstrate significant CAGR during the forecast period. The growing requirement for superior batteries with enhanced energy density, along with extended lifespan and faster charging capabilities, drives this market expansion. The industrial sector heavily employs lithium-based batteries for electric vehicles and renewable energy storage systems, and advanced applications that require both dependability and efficiency. Industries now prefer lithium batteries over lead-acid batteries as the energy sector moves toward environmentally sustainable solutions. The adoption of lithium-based batteries receives additional support through technological advancements, which reduce costs and enhance battery safety. Investment growth, together with supportive government policies for renewable energy and electric vehicles, drives this market expansion.

Application Insights

The motive power segment led the global industrial batteries market in 2024 by generating 31.5% of the total revenue. Industrial batteries maintain their leadership position because they serve as power sources for electric forklifts, AGVs, and other material handling equipment across manufacturing operations, warehousing facilities, and logistics operations. Organizations now demand reliable and enduring power sources because they direct more attention to automation systems and operational efficiency. Motive power batteries demonstrate ideal performance characteristics through their high energy density and deep cycle abilities and require minimal maintenance, which makes lithium-ion and advanced lead-acid types ideal for demanding applications. Market expansion continues because companies transition their industrial vehicle fleets to electric power systems for both economic savings and environmental protection.

The grid-level energy storage segment of the industrial batteries market is expected to grow at the fastest CAGR through the projected period. The power networks' integration of renewable energy sources, such as wind and solar, leads to rapid expansion because these systems need reliable storage solutions to manage supply-demand imbalances. The grid requires industrial batteries to store surplus energy while providing an uninterrupted power supply during peak consumption and outages, as well as maintaining system stability. The development of lithium-ion and flow batteries enables improvements in storage capacity and longevity, and operational efficiency, which makes them suitable for grid applications. The worldwide decarbonization initiatives, together with smart grid investment and government regulations, push forward the deployment of energy storage systems at the grid level.

Regional Insights

The North American industrial batteries market will experience substantial growth through the forecast period because multiple industrial sectors, including manufacturing and telecommunications, renewable energy facilities, and electric vehicle operations, require expanded energy storage solutions. The region's dedication to clean energy transformation and increased investments in modernizing power grids and renewable system integration are accelerating the uptake of advanced battery technologies. The growing number of data centers, together with the need for reliable backup power, serve as key market growth drivers. The transition toward high-performance industrial batteries receives additional support through beneficial regulations, financial incentives, and tax credits for energy storage projects. Technological advancements, particularly in solid-state and lithium-ion batteries, have led North America to establish itself as the leading region in the industrial batteries market.

Asia Pacific Industrial Batteries Market Trends

The Asia Pacific industrial batteries market dominated the global market in 2024 with a revenue share of 34.2%. The main factors driving this market dominance include fast urban development and industrial growth, along with manufacturing hubs located in China, India, Japan, and South Korea. Various industries throughout the region, including logistics, renewable energy, telecommunications, and the automobile sectors, have seen substantial growth in energy storage solution requirements. The market expansion of industrial batteries stems from infrastructure development, along with clean energy adoption and government initiatives that support electric mobility systems. The Asia Pacific region maintains its leading position in the global industrial battery market because it houses prominent battery manufacturers and experiences growing research investments and electric vehicle market expansion.

Europe Industrial Batteries Market Trends

The industrial batteries market across Europe will experience a substantial CAGR because of the region's commitment to sustainable development, energy efficiency, and carbon neutrality targets. The rising adoption of solar and wind power requires advanced industrial batteries, which has driven their market demand. The increasing adoption of electric machinery and the rising popularity of electric vehicles drive the industrial battery market forward. The European authorities support eco-friendly battery adoption through their implementation of regulatory frameworks and incentive programs, which promote clean energy solutions. The market growth in this region receives strong support from expanding energy storage infrastructure and electric vehicle charging networks, along with technological progress in lithium-ion and flow battery systems.

Key Industrial Batteries Companies:

The following are the leading companies in the industrial batteries market. These companies collectively hold the largest market share and dictate industry trends.

• Johnson Controls, Inc.
• Smiths Interconnect
• Northstar Battery Company LLC
• Exide Technologies, Inc.
• Robert Bosch GmbH
• East Penn Manufacturing Co.
• Saft Groupe S.A.
• Enersys, Inc.
• GS Yuasa Corp.
• Schneider Electric
• C&D Technologies, Inc.
• Others

Recent Developments

• In June 2024, the Hypertac Green Connect technology, developed by Smiths Interconnect, tackles industrial batteries' power loss. This novel approach, which was created especially for industrial battery applications including electric vehicles and static energy storage, offers up to 90% more energy transfer than current market options. By lowering contact resistance, the method allows industrial batteries to handle currents of up to 500 amperes and transmit energy efficiently. The product's notable absence of lead and beryllium makes it safer and more ecologically friendly for use in the production of industrial battery systems.

• In April 2024, for microgrid applications, Schneider Electric unveiled a cutting-edge Battery Energy Storage System (BESS).  With its extensive energy management features, this cutting-edge industrial battery solution helps businesses to efficiently capture, store, and use energy from a variety of sources.  Up to 2 MW of power can be supported by the system, which also offers cost-saving features and robustness.  These industrial batteries can function both on and off the grid thanks to their variable configuration and integrated safety controls, which help to solve important energy security issues.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Decision Advisors has segmented the industrial batteries market based on the below-mentioned segments: 

Global Industrial Batteries Market, By Type

• Lead-acid
• Lithium-based
• Others

Global Industrial Batteries Market, By Application

• Motive Power
• Telecom & Data Communication
• Uninterruptible Power Supply (UPS)/ Backup
• Grid-level Energy Storage

Global Industrial Batteries Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa