Global industrial battery chargers market was valued at US$ 2.1 billion in 2024 and is expected to add a value opportunity worth US$ 486.8 million during the forecast period. The market is set to grow at a sluggish 2.6% CAGR amid the COVID-19 pandemic. The global industrial battery chargers market is projected to witness stagnancy owing to the economic slowdown from COVID-19. Significant drop in the demand for oil & gas due to nation-wide lockdowns in many of the countries and a sharp decline in IT spending, has led to demand destruction of industrial battery chargers globally.
In addition, irregularity and price variations of raw material supplies due to high demand–supply ratio is expected to hamper production of industrial battery chargers in the coming years. However, the global industrial battery market is projected to regain traction in the second half of the forecast period when the economy is anticipated to return to normalcy.
The following insights and evaluations are worth knowing for any market participant, helping them in ascertaining the prevailing dynamics and the future trajectories of the Industrial Battery Chargers Market. They are a part of the estimations of the opportunities in various segments. The additional new opportunities have turned the Industrial Battery Chargers Market into a fragmented landscape with more entry-level players entering the market, thanks to low barriers for investments.
After reading the Industrial Battery Chargers Market report, readers get insight into:
- Major drivers and restraining factors, opportunities and challenges, and the competitive landscape
- New, promising avenues in key regions
- New revenue streams for all players in emerging markets
- Focus and changing role of various regulatory agencies in bolstering new opportunities in various regions
- Demand and uptake patterns in key industries of the Industrial Battery Chargers Market
- New research and development projects in new technologies in key regional markets
- Changing revenue share and size of key product segments during the forecast period 2024 to 2031
- Technologies and business models with disruptive potential
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Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Japan
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
- Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)
The Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
The global Industrial Battery Chargers Market report offers detailed assessments and quantitative evaluations that shed light on numerous key aspects that have shaped its evolution over the historical period. In coming years, some of the key aspects that will shape the growth prospects during the forecast period are objectively covered in the study.
Industrial Battery Chargers Market to Witness Slow Growth due to Diminishing Demand in End Use Sectors
Investments from the government and private organizations on renewable energy projects, particularly solar panel based, in a bid to achieve the aim of becoming a sustainable economy, have rubbed off on developmental efforts directed toward battery technologies. Deployment of green energy solutions in existing as well as new energy grids will also remain the key influencers of industrial battery chargers market prospects. Outbreak of COVID-19 has dampened global business economy as almost the entire globe is under lockdown to avoid spread of coronavirus.
Global IT, energy & power, manufacturing, and mining industries which are key consumers of industrial battery chargers are witnessing significant drop in demand that in turn, has hampered the supply-demand eco system. For instance, owing to a sharp decline in the demand of oil & gas due to stringent lockdowns in most of the countries, coupled with the Russia-OPEC price war has resulted in plummeting oil prices causing the biggest slowdown in the oil & gas sector than ever before. Therefore, oil & gas industry, one of the end use sectors in the global industrial battery chargers market is expected to witness slow growth at a CAGR of 1.5% during the forecast period, predicts Fact.MR
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