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The global Deep Cycle Batteries market size was valued at USD 13021.82 Million in 2022 and will reach USD 17985.7 Million in 2028, with a CAGR of 5.53% during 2022-2028.
A deep-cycle battery is a lead-acid battery designed to be regularly deeply discharged using most of its capacity. In contrast, starter batteries are designed to deliver short, high-current bursts for cranking the engine, thus frequently discharging only a small part of their capacity. While a deep-cycle battery can be used as a starting battery, the lower "cranking current" implies that an oversized battery may be required.
Emerging and Growing Market of Deep Cycle Batteries
North America, Europe, China, India, South America, Middle East and Africa
The growing demand for electric forklift applications will drive the growth prospects for the global deep cycle batteries market. Some of the major end users of battery-powered forklifts are retail and wholesale, logistics, mechanical or automotive, food and beverages, chemical industries. Furthermore, some of the major factors responsible for the growing preference for electric forklifts among these end-users is its low emission and noise hazard characteristics, longer lifespan, and the elimination of fuel costs.
Some of the major factors responsible for the market’s growth in the region is the growing demand for batteries in developing countries such as China and India along with the batteries offered by local manufacturers at a lower price.
Opportunities
Improve performance
With the progress in science and technology, the investment of companies, there will be more cost effective, high performance product in the future.
Emerging countries
For example, China, India are developing their industries, with the progress of economy and technology, the increasing demand downstream, the market of Deep Cycle Batteries has great market potential.
Region Overview:
North America had the highest growth rate of all regions.
Company Overview:
EnerSys is one of the major players operating in the Deep Cycle Batteries market, holding a share of 19.32% in 2020.
EnerSys
EnerSys manufactures, markets, and distributes industrial batteries. The Company also manufactures, markets, and distributes related products such as chargers, power equipment, and battery accessories. EnerSys provides related after-market and customer-support services for lead-acid industrial batteries.
Johnson Controls
Johnson Controls International plc is a multinational conglomerate headquartered in Cork, Ireland, that produces automotive parts such as batteries, and electronics and HVAC equipment for buildings. It employs 170,000 people in more than 1,300 locations across six continents.
Segmentation Overview:
By type, VRLA batteries segment accounted for the largest share of market in 2021.
VRLA Batteries
A valve-regulated lead-acid battery (VRLA battery) sometimes called sealed lead-acid (SLA). Due to their construction, the gel and absorbent glass mat (AGM) types of VRLA can be mounted in any orientation, and do not require constant maintenance.
FLA Batteries
Flooded lead acid batteries have the longest track record in solar electric use and are still used in the majority of stand-alone alternative energy systems. They have the longest life and the least cost per amp-hour of any of the choices.
Application Overview:
By application, the Johnson Controls segment occupied the biggest share from 2017 to 2022.
The Deep Cycle Batteries market report covers sufficient and comprehensive data on market introduction, segmentations, status and trends, opportunities and challenges, industry chain, competitive analysis, company profiles, and trade statistics, etc. It provides in-depth and all-scale analysis of each segment of types, applications, players, 5 major regions and sub-division of major countries, and sometimes end user, channel, technology, as well as other information individually tailored before order confirmation.
Meticulous research and analysis were conducted during the preparation process of the report. The qualitative and quantitative data were gained and verified through primary and secondary sources, which include but not limited to Magazines, Press Releases, Paid Databases, Maia Data Center, National Customs, Annual Reports, Public Databases, Expert interviews, etc. Besides, primary sources include extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs, and marketing executives, downstream distributors, as well as end-clients.
In this report, the historical period starts from 2018 to 2022, and the forecast period ranges from 2023 to 2028. The facts and data are demonstrated by tables, graphs, pie charts, and other pictorial representations, which enhances the effective visual representation and decision-making capabilities for business strategy.
Key Companies in the global Deep Cycle Batteries market covered in Chapter 4:
HBL Power Systems
Exide Industries
Trojan Battery
Exide Technologies
Leoch
COSLIGHT
HOPPECKE
EaglePicher
East Penn Manufacturing
Zibo Torch
Johnson Controls
GS Yuasa
Crown Battery
Rolls Battery
EverExceed
EnerSys
C&D Technologies
In Chapter 12 and Chapter 14.1, on the basis of types, the Deep Cycle Batteries market from 2018 to 2028 is primarily split into:
VRLA Batteries
FLA Batteries
In Chapter 13 and Chapter 14.2, on the basis of the Downstream Industry, the Deep Cycle Batteries market from 2018 to 2028 covers:
Motive
Stationary
Automotive
Geographically, the detailed analysis of consumption, revenue, market share and growth rate, history and forecast (2018-2028) of the following regions are covered in Chapters 6, 7, 8, 9, 10, 11, 15:
North America (United States, Canada, Mexico)
Europe (Germany, United Kingdom, France, Italy, Spain)
Asia Pacific (China, Japan, South Korea, India, Southeast Asia)
South America (Brazil, Argentina)
Middle East & Africa (Saudi Arabia, UAE, South Africa)
Outline:
Chapter 1 begins with the Deep Cycle Batteries market scope and definition, product segment introduction, global overall market size, as well as market dynamics scenarios such as opportunities, challenges, and industry development trends under inflation. It offers a high-level view of the current state of the Deep Cycle Batteries market and its likely evolution in the short to mid-term and long term.
Chapter 2 provides Deep Cycle Batteries industry chain analysis, covering raw materials analysis, cost structure, price estimate, and forecast, along with price-impacting factors, downstream channels, and major customers. It aims to help readers to grab insights into product upstream, midstream, and downstream fields.
Chapter 3 depicts Deep Cycle Batteries industry competitive analysis regarding market concentration rate, saturation rate, feasibility analysis from new entrants, as well as substitute's status and trends. It indicates the developing space and prospects of the current industry.
Chapter 4 analyzes extensive company profiles, comprising company basic info, product or service profiles, and sales, price, value, gross, and gross margin 2018-2023. It incorporates the Deep Cycle Batteries market ranking, benchmarks, and company business portfolio.
Chapter 5 presents trade statistics of import and export volume from 2018-2023, demonstrating domestic and international market comparisons in specific countries.
Chapters 6-10 highlight Deep Cycle Batteries market status at the regional and country levels, including 5 major regions of North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The region and country list in the sample is only for reference, and it can be adjusted as required.
Chapter 11 involves geographical market figures of sales, value, market share, and growth rate. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of each specific region.
Chapters 12-13 evaluate the Deep Cycle Batteries market based on different types and applications. It focuses on sales and value of 2018-2023 from both vertical and horizontal perspectives.
Chapters 14-15 elaborate on the Deep Cycle Batteries market forecast data from 2023-2028, segmented by types and applications, regions, and major countries, helping readers to know future aspects and growth trends.
Chapter 16 ends with an elaboration of data sources and research methodology. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
2022
A deep-cycle battery is a lead-acid battery designed to be regularly deeply discharged using most of its capacity. In contrast, starter batteries are designed to deliver short, high-current bursts for cranking the engine, thus frequently discharging only a small part of their capacity. While a deep-cycle battery can be used as a starting battery, the lower "cranking current" implies that an oversized battery may be required.
Emerging and Growing Market of Deep Cycle Batteries
North America, Europe, China, India, South America, Middle East and Africa
The growing demand for electric forklift applications will drive the growth prospects for the global deep cycle batteries market. Some of the major end users of battery-powered forklifts are retail and wholesale, logistics, mechanical or automotive, food and beverages, chemical industries. Furthermore, some of the major factors responsible for the growing preference for electric forklifts among these end-users is its low emission and noise hazard characteristics, longer lifespan, and the elimination of fuel costs.
Some of the major factors responsible for the market’s growth in the region is the growing demand for batteries in developing countries such as China and India along with the batteries offered by local manufacturers at a lower price.
Opportunities
Improve performance
With the progress in science and technology, the investment of companies, there will be more cost effective, high performance product in the future.
Emerging countries
For example, China, India are developing their industries, with the progress of economy and technology, the increasing demand downstream, the market of Deep Cycle Batteries has great market potential.
Region Overview:
North America had the highest growth rate of all regions.
Company Overview:
EnerSys is one of the major players operating in the Deep Cycle Batteries market, holding a share of 19.32% in 2020.
EnerSys
EnerSys manufactures, markets, and distributes industrial batteries. The Company also manufactures, markets, and distributes related products such as chargers, power equipment, and battery accessories. EnerSys provides related after-market and customer-support services for lead-acid industrial batteries.
Johnson Controls
Johnson Controls International plc is a multinational conglomerate headquartered in Cork, Ireland, that produces automotive parts such as batteries, and electronics and HVAC equipment for buildings. It employs 170,000 people in more than 1,300 locations across six continents.
Segmentation Overview:
By type, VRLA batteries segment accounted for the largest share of market in 2021.
VRLA Batteries
A valve-regulated lead-acid battery (VRLA battery) sometimes called sealed lead-acid (SLA). Due to their construction, the gel and absorbent glass mat (AGM) types of VRLA can be mounted in any orientation, and do not require constant maintenance.
FLA Batteries
Flooded lead acid batteries have the longest track record in solar electric use and are still used in the majority of stand-alone alternative energy systems. They have the longest life and the least cost per amp-hour of any of the choices.
Application Overview:
By application, the Johnson Controls segment occupied the biggest share from 2017 to 2022.
The Deep Cycle Batteries market report covers sufficient and comprehensive data on market introduction, segmentations, status and trends, opportunities and challenges, industry chain, competitive analysis, company profiles, and trade statistics, etc. It provides in-depth and all-scale analysis of each segment of types, applications, players, 5 major regions and sub-division of major countries, and sometimes end user, channel, technology, as well as other information individually tailored before order confirmation.
Meticulous research and analysis were conducted during the preparation process of the report. The qualitative and quantitative data were gained and verified through primary and secondary sources, which include but not limited to Magazines, Press Releases, Paid Databases, Maia Data Center, National Customs, Annual Reports, Public Databases, Expert interviews, etc. Besides, primary sources include extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs, and marketing executives, downstream distributors, as well as end-clients.
In this report, the historical period starts from 2018 to 2022, and the forecast period ranges from 2023 to 2028. The facts and data are demonstrated by tables, graphs, pie charts, and other pictorial representations, which enhances the effective visual representation and decision-making capabilities for business strategy.
Key Companies in the global Deep Cycle Batteries market covered in Chapter 4:
HBL Power Systems
Exide Industries
Trojan Battery
Exide Technologies
Leoch
COSLIGHT
HOPPECKE
EaglePicher
East Penn Manufacturing
Zibo Torch
Johnson Controls
GS Yuasa
Crown Battery
Rolls Battery
EverExceed
EnerSys
C&D Technologies
In Chapter 12 and Chapter 14.1, on the basis of types, the Deep Cycle Batteries market from 2018 to 2028 is primarily split into:
VRLA Batteries
FLA Batteries
In Chapter 13 and Chapter 14.2, on the basis of the Downstream Industry, the Deep Cycle Batteries market from 2018 to 2028 covers:
Motive
Stationary
Automotive
Geographically, the detailed analysis of consumption, revenue, market share and growth rate, history and forecast (2018-2028) of the following regions are covered in Chapters 6, 7, 8, 9, 10, 11, 15:
North America (United States, Canada, Mexico)
Europe (Germany, United Kingdom, France, Italy, Spain)
Asia Pacific (China, Japan, South Korea, India, Southeast Asia)
South America (Brazil, Argentina)
Middle East & Africa (Saudi Arabia, UAE, South Africa)
Outline:
Chapter 1 begins with the Deep Cycle Batteries market scope and definition, product segment introduction, global overall market size, as well as market dynamics scenarios such as opportunities, challenges, and industry development trends under inflation. It offers a high-level view of the current state of the Deep Cycle Batteries market and its likely evolution in the short to mid-term and long term.
Chapter 2 provides Deep Cycle Batteries industry chain analysis, covering raw materials analysis, cost structure, price estimate, and forecast, along with price-impacting factors, downstream channels, and major customers. It aims to help readers to grab insights into product upstream, midstream, and downstream fields.
Chapter 3 depicts Deep Cycle Batteries industry competitive analysis regarding market concentration rate, saturation rate, feasibility analysis from new entrants, as well as substitute's status and trends. It indicates the developing space and prospects of the current industry.
Chapter 4 analyzes extensive company profiles, comprising company basic info, product or service profiles, and sales, price, value, gross, and gross margin 2018-2023. It incorporates the Deep Cycle Batteries market ranking, benchmarks, and company business portfolio.
Chapter 5 presents trade statistics of import and export volume from 2018-2023, demonstrating domestic and international market comparisons in specific countries.
Chapters 6-10 highlight Deep Cycle Batteries market status at the regional and country levels, including 5 major regions of North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The region and country list in the sample is only for reference, and it can be adjusted as required.
Chapter 11 involves geographical market figures of sales, value, market share, and growth rate. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of each specific region.
Chapters 12-13 evaluate the Deep Cycle Batteries market based on different types and applications. It focuses on sales and value of 2018-2023 from both vertical and horizontal perspectives.
Chapters 14-15 elaborate on the Deep Cycle Batteries market forecast data from 2023-2028, segmented by types and applications, regions, and major countries, helping readers to know future aspects and growth trends.
Chapter 16 ends with an elaboration of data sources and research methodology. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Years considered for this report:
Historical Years:
2018-2022Base Year:
2022Estimated Year:
2023Forecast Period:
2023-2028Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
