Industrial Battery Chargers Market to Expand at 8.3% CAGR During Forecast Period 2018 - 2028 - Future Market Insights

Industrial Battery Chargers Market to Expand at 8.3% CAGR During Forecast Period 2018 - 2028 - Future Market Insights

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VALLEY COTTAGE, New York, April 10, 2019

VALLEY COTTAGE, New York, April 10, 2019 /PRNewswire/ -- More than 1.3 million industrial battery chargers were sold in 2018, according to a recent market research intelligence presented by Future Market Insights (FMI). The study projects a strong increase of over 7% in the procurement of industrial battery chargers in 2019.

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As industrialization continues to generate ever-growing demand for energy storage, the industrial battery chargers are likely to witness heavy adoption. More than 35% of the global demand for industrial battery chargers is accounted by IT & data center, and energy & power industries, as indicated by FMI's analysis.

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Favorable Government Initiatives to Accelerate Adoption of Industrial Battery Chargers

Increase in the energy distribution and transmission infrastructure backed by favorable governmental regulatory framework, and the flourishing trend of sustainability through non-conventional alternatives as energy sources are playing a vital role in establishing a strong adoption base for industrial battery chargers.

"The rate of industrial battery chargers' procurement will significantly take off as electrification continues to receive strong governmental support. Mounting pace of the smart grid adoption across industries will remain another key factor encouraging preference for industrial battery chargers in the years to come," says a senior market research professional at FMI.

Subsidies offered by regional and local governments for procurement of energy systems based on alternative sources at economical capital costs are strongly backed by climbing new grid sales, which necessitate the deployment of secondary or rechargeable batteries for energy transmission and distribution. FMI's report opines that this will play a pivotal role in encouraging sales of industrial battery chargers in the near future.

Preview Analysis of Industrial battery chargers market Segmented by (Technology - High Frequency Chargers/Switch Mode Based, SCR (Silicon Controlled Rectifier)/ Thyristor Based, Ferroresonant & Hybrid (SCR + Ferroresonant); Battery Type - SLA Batteries, NiCd Batteries, Plante Batteries & Lithium Batteries; Configuration - FC & BC (Float and Boost), FC & FCBC (Float and Float cum Boost), Dual FCBC (Dual Float cum Boost) & FCBC (Float cum Boost); End-Use Sector - Railways, Energy and Power, Mining, Manufacturing, IT and Data Centers, Marine, Telecommunications, Infrastructure & Oil & Gas; Output Charging Current - 15A-50A, 51A-150A, 151A-250A, 251A-500A & Above 500A; Battery Rated Voltage - Up to 24V, 48V, 60V, 110V & Above 110V;): https://www.futuremarketinsights.com/reports/industrial-battery-charger-market

Asian & European Economies to Lead in Industrial Battery Chargers Market

Chinese and Indian industrial sectors continue to generate substantial demand for industrial battery chargers for a plethora of energy solutions. This according to the report is prominently pushing growth of industrial battery chargers market in APEJ. According to the report, APEJ currently holds almost a fourth of the total revenue of industrial battery chargers market.

In the light of significant efforts taken by European governments in the popularization and adoption of sustainable energy alternatives, it is highly likely that the demand for industrial battery chargers will be notable in Europe, which currently accounts for just-under a fourth of the global demand.

Although European countries leading the way for the increasing usage of renewable energy, developing countries are expected to emerge as game changers, looking at the rapidly improving emission patterns.

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Vendor Insights: Key Companies to Remain Focused on Innovation in Terms of Efficiency

The industrial battery chargers market has been cited as a fairly consolidated competition landscape. In addition to high-efficiency, easy-to-use, and easy-to-install industrial battery chargers, the prominent companies in industrial battery charger market are focusing on their capabilities to cater to diverse specifications of a wide range of operational requirements.

Moreover, high compatibility with harsh environmental conditions has emerged as a lucrative trend among leading providers of industrial battery chargers, which could potentially offer them a competitive edge over others in the industrial battery charger market.

Some of the major companies active in industrial battery charger market have been covered in FMI's report, including ABB Ltd., Hitachi ltd, Exide Technologies, ENERSYS, Delta Q, Gs Yuasa International Ltd., AMETEK. Inc, Sevcon, Crown Battery Manufacturing Company, Lester Electrical, AEG Power Solutions, and Kirloskar Electric Company among others.

For exclusive insights on the various other factors influencing growth of the industrial battery chargers market at a global level, write in to press@futuremarketinsights.com

Our advisory services are aimed at helping you with specific, customized insights that are relevant to your specific challenges. Let us know about your challenges and our trusted advisors will connect with youhttps://www.futuremarketinsights.com/askus/rep-gb-5587

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