Global Industrial Batteries Market: Key Highlights
Global Industrial Batteries Market: Key Market Dynamics
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Global Industrial Batteries Market: Regional Overview
The Asia-Pacific region is expected to hold the major market share in the global industrial battery market. It is also estimated to be the fastest-growing regional market over the forecast period owing to a strong industrial base and rise in civil infrastructure activities, especially in China, India, Australia, and several Southeast Asian. Various initiatives by the Indian government are encouraging industrial establishments in the country, which is anticipated to drive the demand for industrial batteries over the forecast period.
North America is expected to be the second-largest market in the industrial batteries market. This can be attributed to the strong presence of key manufactures. The U.S. is the major contributor in the North America industrial battery market owing to Robust manufacturing base and rapid growth of the automotive industry in the U.S. will augment the demand for industrial vehicles, such as a battery-operated forklift, which will drive the demand for industrial batteries over the forecasted years.
Global Industrial Batteries Market: Key Players Overview
Honeywell International Inc. is a global diversified technology and multi-industrial company. The Company is focused on developing energy solutions, integrated infrastructure and transportation systems. The company majorly works through the following business segments, building technologies & solutions, and former business units. Power Solutions services both automotive OEMs and the battery aftermarket by providing advanced battery technology, coupled with systems engineering, marketing and service expertise. The Company is the largest producer of lead-acid automotive batteries in the world, producing and distributing approximately 154 million lead-acid batteries annually in approximately 70 wholly- and majority-owned manufacturing or assembly plants, distribution centers and sales offices in approximately 20 countries worldwide.
Exide Technologies is a US-based company engaged in the designs, manufactures, markets and sells a range of lead-acid storage batteries. The company operates through Storage Batteries & allied products, Life Insurance Business and Others segments. Storage batteries & allied products segment includes the holding company and some of its subsidiaries manufacture lead-acid storage batteries and allied products. Exide technologies have subsidiaries in the UK, Singapore and Sri Lanka and its exports span 45 countries across the globe.
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