Fairfield Market Research Deep-Cycle Battery Market Size to Reach US$3.8 Bn by 2030

Deep-Cycle Battery Market

Global Deep-Cycle Battery Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - (By Type Coverage, By Application Coverage, By Geographic Coverage and By Company)

Published Date: Mar 2024 | Format: | No. of Pages: 267

Industry: Energy & Natural Resources


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Global Deep-Cycle Market Forecast

  • Global deep-cycle battery market size to reach from US$2.3 Bn in 2023 to US$3.8 Bn in 2030
  • Deep-cycle battery market revenue likely to expand at a CAGR of 7.4% during 2023 – 2030

Deep Cycle Battery Market Snapshot, 2018 - 2030

Quick Report Digest

  1. The key trend anticipated to fuel the deep-cycle battery market growth is the demand for effective energy storage technologies and the growing use of renewable energy sources. Deep-cycle batteries are essential for storing and supplying electricity produced by renewable energy sources like solar, and wind.
  2. Another major market trend expected to fuel the deep-cycle battery market growth is that, compared to their thinner SLI counterpart, deep-cycle batteries feature thicker lead plates, which have a smaller total surface area. Deep-cycle batteries generate less current than SLI-type batteries but do so for longer periods because of the decreased surface area available for chemical reactions.
  3. In 2023, the flooded lead-acid batteries (FLA) category dominated the industry. Flood deep-cycle battery cells are filled with liquid electrolytes, facilitating maintenance and longer discharge cycles.
  4. In terms of market share for deep-cycle batteries globally, the motive platform segment is anticipated to dominate. The rising demand for electric forklifts, golf carts, and other material-handling equipment propels the motive segment's expansion.
  5. The Asia Pacific region is anticipated to account for the largest global deep-cycle battery market share. The burgeoning need for automobiles, predominantly electric ones, coupled with the progress of telecommunication networks in China, India, and South Korea is expected to drive the demand for deep-cycle batteries in the upcoming year.
  6. The market for deep-cycle batteries is expanding in North America due to the country's well-established maritime industry, which includes defense vessels, cruise ships, and commercial shipping.

A Look Back and a Look Forward - Comparative Analysis

The market for deep-cycle batteries has grown in popularity due to the increased focus on renewable energy sources, the growing usage of electric vehicles, and the expanding need for energy storage solutions. Improvements in battery chemistries and the creation of high-capacity batteries are technological developments that will propel market expansion.

The market witnessed staggered growth during the historical period 2018 – 2022. This is due to the high initial cost as compared to conventional batteries. Lithium-ion deep-cycle batteries, in particular, can cost up to five times as much as equivalent automotive batteries. This can be a significant obstacle for prospective purchasers, particularly those on a tight budget.

Major market companies are spending on research and development to produce novel products and improve the performance of deep-cycle batteries. New battery chemicals with higher energy density and longer cycle lives, such as lithium-ion, are coming onto the market.

Deep Cycle Battery Market, US$ Bn, 2018 - 2030

Key Growth Determinants

  • Ageing Population's Increasing Use of Golf Carts

The market expansion for deep-cycle batteries is mostly driven by the aging population's increasing use of golf carts. In wealthy nations like the US, golf carts are becoming the preferred mobility option for senior citizens. Aside from their function in golf courses, these carts are useful for short-distance commutes and household tasks like grocery shopping.

Golf carts are now available in the public sector in India for the elderly population, thanks to a government initiative. The Indian government has begun utilising golf carts in airports as well. In addition, the Saudi Railway Organisation provides golf cart service at the train stations in Dammam, Riyadh, and Hofuf for elderly and disabled passengers.

  • Rising Demand for Electric Forklifts

One of the main factors propelling the deep-cycle battery market is the increased demand for electric forklifts. Electric forklifts are growing in popularity because they are less expensive and have better environmental effects. Deep-cycle batteries power electric forklifts; the longer the battery lasts, the less maintenance and downtime are needed.

  • Rise in Funding for Green Telecom

One of the main factors propelling the deep-cycle batteries market is the rise in investments in green communications. To power their cell towers and other infrastructure, telecom companies are investing more and more in renewable energy sources. This is partially brought on by the escalating expense of conventional fossil fuels and the mounting demand from consumers and governments to lower carbon emissions.

Major Growth Barriers

  • High Starting Prices

One of the main issues facing the market is the high initial cost of deep-cycle batteries. Because deep-cycle batteries can be regularly recharged and deeply depleted, they are perfect for various applications, including maritime vessels, renewable energy systems, and recreational vehicles. But compared to conventional automobile batteries, their initial cost can be two or three times greater.

  • Strict Government Regulations

Government rules are driving up the cost of producing and marketing conventional lead-acid batteries. Deep-cycle batteries composed of lithium-ion and other materials are becoming more competitive. Governments are also promoting the adoption of deep-cycle batteries by providing tax incentives and subsidies. This lowers their cost for both enterprises and consumers.

Key Trends and Opportunities to Look at

  1. Newly Emerging Markets

The deep-cycle battery market is anticipated to grow fastest in rising economies like China, Brazil, and India. These nations have sizable populations, swift economic development, and an increasing demand for energy storage technologies.

India, for instance, is predicted to add up to 175 gigawatts of renewable energy capacity by 2022, thanks to significant investments made by the government in this field. Due to this, deep-cycle batteries for off-grid solar power systems are predicted to become much more in demand.

  1. Modifications to the World Energy Mix

A major change is occurring in the deep-cycle batteries business, partly due to the quick change in the world's energy balance. The global shift from fossil fuels to renewable energy sources drives demand for dependable and effective energy storage technologies.

Deep-cycle batteries are essential to this transformation because they power a range of electric vehicles, grid-scale energy storage applications, and solar and wind energy systems when they need it most.

  1. Growing Marine Sector

The growing marine industry provides good prospects for market expansion. Deep-cycle batteries are widely employed in marine applications to power auxiliary equipment and propulsion. The need for deep-cycle batteries is anticipated to increase as the marine industry expands.

Deep Cycle Battery Market, DROs

How Does the Regulatory Scenario Shape this Industry?

Regulations about deep-cycle batteries differ from place to place. Among the major laws influencing the industry are those about the environment: Lead is a dangerous element in deep-cycle batteries. Regulations governing the recycling and disposal of these batteries have been put in place as a result. The restrictions for safety and performance have been put in place because deep-cycle batteries can produce a lot of heat.

Performance restrictions require deep-cycle batteries to adhere to performance requirements. North America gains from the recycling and disposing of lead-acid batteries are governed by rules set forth by the US Environmental Protection Agency (EPA). The installation of deep-cycle batteries is subject to safety rules outlined in the National Electrical Code (NEC). As far as Europe is concerned, the Battery Directive of the European Union (EU) governs battery usage, recycling, and disposal.

Additionally, deep-cycle battery installation is subject to safety standards inside the EU. Compared to other regions, the regulatory landscape in the Asia Pacific is not as established. Nonetheless, certain nations, including China, and Japan, have laws governing the recycling and disposal of lead-acid batteries.

Fairfield’s Ranking Board

Top Segments

  1. FLA Category Continues to Dominate

The flooded lead-acid batteries (FLA) segment dominated the market in 2023. FLA batteries are a well-liked option for deep-cycle applications because of their performance and price. Nevertheless, other deep-cycle battery types, such as lithium-ion and valve-regulated lead-acid (VRLA) batteries, are becoming more and more competitive with them.

Furthermore, the valve regulated lead-acid batteries (VRLA) category is projected to experience the fastest market growth. The most often used kind of deep-cycle battery available is the VRLA variety. They are an excellent option when maintenance is challenging or impossible, as on boats or in isolated areas. Because VRLA batteries may be mounted on walls or stacked, they are an excellent option for situations where space is at a premium.

  1. Motive Platform Will Surge Ahead Throughout the Forecast Period

In 2023, the motive platform category dominated the industry. Motive platform offers analytics and data to the battery business. Battery distributors, manufacturers, and consumers can all benefit from the company's platform by tracking and analysing battery performance. The data from the Motive Platform can be utilised to enhance battery usage, production, and design.

The automotive category is anticipated to grow substantially throughout the projected period. The automotive deep-cycle battery business has enormous potential for future growth. We can anticipate more innovation and improvements in this fascinating field if the demand for EVs, and sustainable energy solutions remains high.

Regional Frontrunners

Asia Pacific Remains the Largest Revenue Contributor

Due to the growing need for automobiles, it is anticipated to dominate Asia Pacific. Based on utilisation, Asia Pacific is predicted to hold a significant portion of the global deep-cycle battery market in the upcoming years.

Deep-cycle battery demand is expected to rise in the upcoming year due to the growing need for automobiles, particularly electric ones, and the expansion of telecommunication networks in China, India, and South Korea. Deep-cycle battery manufacturers in Asia are expected to find great opportunities because of the growing demand for off-grid power reserve equipment in emerging nations such as Vietnam, Indonesia, and Malaysia.

Deep Cycle Battery Regional Outlook 2018 - 2030

North America Poised for Noteworthy Expansion

The presence of major regional companies is driving expansion in the North American deep-cycle battery market. A few major companies, including Trojan Battery, Exide Technologies, and Johnson Controls, control the majority of the deep-cycle battery business in North America. These companies sell a variety of deep-cycle batteries, ranging in size from big industrial batteries to little golf cart batteries.

New companies entering the industry, like Panasonic, and Tesla, are also becoming visible. In contrast to conventional lead-acid batteries, these businesses are creating new kinds of deep-cycle batteries called lithium-ion batteries, which have longer lifespans and higher energy densities.

 North America Deep Cycle Battery Market, by Application, 2018 - 2030, US$ Bn

Fairfield’s Competitive Landscape Analysis

The global deep-cycle battery market is a consolidated market with fewer major players present across the globe. The key players are introducing new products and working on the distribution channels to enhance their worldwide presence. Moreover, Fairfield Market Research expects more consolidation over the coming years.

Who are the Leaders in the Global Deep-cycle Battery Space?

Significant Company Developments

New Product Launch

  • July 2022: Freudenberg Sealing Technologies' subsidiary XALT Energy has announced the introduction of a new lithium-ion battery module made especially for use in marine environments.
  • May 2021: EnerSys, a global leader in stored energy solutions, has released a new line of lithium-ion batteries for marine applications.
  • In 2022, Tesla introduced the Powerwall+. A home battery system called the Powerwall+ can store solar energy and offer backup power during a power outage. Lithium-ion batteries are a kind of deep-cycle battery used in the Powerwall+.

Distribution Agreement

  • February 2022: The world's first autonomous and emission-free container vessel, YARA Birkeland, was designed and supplied with battery systems by Corvus Energy, a prominent marine battery manufacturer, in collaboration with Norwegian Electric Systems (NES).
  • September 2021: Saft Groupe S.A., a leader in developing and implementing marine battery energy storage systems (BESS) for electric and hybrid vessels, has partnered with Schneider Electric and the Brittany Region.

An Expert’s Eye

Demand and Future Growth

The increased use of these batteries for engine starting, supplying power for onboard systems, and supporting auxiliary operations is directly related to the rise in demand for them. The maritime industry's growing need for sustainable and renewable energy solutions is one of the main motivators.

Adopting marine batteries as a greener substitute for conventional fuel-powered systems results from tighter environmental restrictions and an increased emphasis on lowering emissions.

Supply Side of the Market

Our analysis shows the rising demand for electric cars, renewable energy sources, and energy storage technologies. Although the market offers a lot of potential, it also has drawbacks, including high expenses and a short lifespan.

Nonetheless, the industry is anticipated to flourish in the upcoming years due to persistent technological developments and calculated endeavors. Industry players should concentrate on innovation, diversification, and sustainability to obtain a competitive advantage and take advantage of the changing market trends and demands.

Global Deep-Cycle Platform Market is Segmented as Below:

By Type:

  • Flooded Lead-acid Batteries (FLA)
  • Valve Regulated Lead-acid Batteries (VRLA)

By Application:

  • Stationary
  • Automotive
  • Motive Platform

By Geographic Coverage:

  • North America 
    • U.S. 
    • Canada 
  • Europe 
    • Germany
    • U.K.
    • France
    • Italy
    • Turkey
    • Russia
    • Rest of Europe 
  • Asia Pacific 
    • China
    • Japan
    • South Korea
    • India
    • Southeast Asia
    • Rest of Asia Pacific 
  • Latin America 
    • Brazil 
    • Mexico 
    • Argentina
    • Rest of Latin America 
  • Middle East & Africa  
    • GCC 
    • South Africa
    • Egypt
    • Nigeria
    • Rest of Middle East & Africa

1. Executive Summary
    1.1. Global Deep-Cycle Battery Market Snapshot
    1.2. Future Projections
    1.3. Key Market Trends
    1.4. Regional Snapshot, by Value, 2022
    1.5. Analyst Recommendations

2. Market Overview
    2.1. Market Definitions and Segmentations
    2.2. Market Dynamics
        2.2.1. Drivers
        2.2.2. Restraints
        2.2.3. Market Opportunities
    2.3. Value Chain Analysis
    2.4. Porter’s Five Forces Analysis
    2.5. COVID-19 Impact Analysis
        2.5.1. Supply
        2.5.2. Demand
    2.6. Impact of Ukraine-Russia Conflict
    2.7. Economic Overview
        2.7.1. World Economic Projections
    2.8. PESTLE Analysis


3. Global Deep-Cycle Battery Market Outlook, 2018 – 2030

    3.1. Global Deep-Cycle Battery Market Outlook, by Type, Value (US$ Mn), 2018 – 2030
        3.1.1. Key Highlights
            3.1.1.1. Flooded Lead-acid Batteries (FLA)
            3.1.1.2. Valve Regulated Lead-acid Batteries (VRLA)
    3.2. Global Deep-Cycle Battery Market Outlook, by Application, Value (US$ Mn), 2018 – 2030
        3.2.1. Key Highlights
            3.2.1.1. Stationary
            3.2.1.2. Automotive
            3.2.1.3. Motive Platform
    3.3. Global Deep-Cycle Battery Market Outlook, by Region, Value (US$ Mn), 2018 – 2030
        3.3.1. Key Highlights
            3.3.1.1. North America
            3.3.1.2. Europe
            3.3.1.3. Asia Pacific
            3.3.1.4. Latin America
            3.3.1.5. Middle East & Africa


4. North America Deep-Cycle Battery Market Outlook, 2018 – 2030

    4.1. North America Deep-Cycle Battery Market Outlook, by Type, Value (US$ Mn), 2018 – 2030
        4.1.1. Key Highlights
            4.1.1.1. Flooded Lead-acid Batteries (FLA)
            4.1.1.2. Valve Regulated Lead-acid Batteries (VRLA)
    4.2. North America Deep-Cycle Battery Market Outlook, by Application, Value (US$ Mn), 2018 – 2030
        4.2.1. Key Highlights
            4.2.1.1. Stationary
            4.2.1.2. Automotive
            4.2.1.3. Motive Platform
        4.2.2. BPS Analysis/Market Attractiveness Analysis
    4.3. North America Deep-Cycle Battery Market Outlook, by Country, Value (US$ Mn), 2018 – 2030
        4.3.1. Key Highlights
            4.3.1.1. U.S. Deep-Cycle Battery Market by Type, Value (US$ Mn), 2018 – 2030
            4.3.1.2. U.S. Deep-Cycle Battery Market Application, Value (US$ Mn), 2018 – 2030
            4.3.1.3. Canada Deep-Cycle Battery Market by Type, Value (US$ Mn), 2018 – 2030
            4.3.1.4. Canada Deep-Cycle Battery Market Application, Value (US$ Mn), 2018 – 2030
        4.3.2. BPS Analysis/Market Attractiveness Analysis


5. Europe Deep-Cycle Battery Market Outlook, 2018 – 2030

    5.1. Europe Deep-Cycle Battery Market Outlook, by Type, Value (US$ Mn), 2018 – 2030
        5.1.1. Key Highlights
            5.1.1.1. Flooded Lead-acid Batteries (FLA)
            5.1.1.2. Valve Regulated Lead-acid Batteries (VRLA)
    5.2. Europe Deep-Cycle Battery Market Outlook, by Application, Value (US$ Mn), 2018 – 2030
        5.2.1. Key Highlights
            5.2.1.1. Stationary
            5.2.1.2. Automotive
            5.2.1.3. Motive Platform
        5.2.2. BPS Analysis/Market Attractiveness Analysis
    5.3. Europe Deep-Cycle Battery Market Outlook, by Country, Value (US$ Mn), 2018 – 2030
        5.3.1. Key Highlights
            5.3.1.1. Germany Deep-Cycle Battery Market by Type, Value (US$ Mn), 2018 – 2030
            5.3.1.2. Germany Deep-Cycle Battery Market Application, Value (US$ Mn), 2018 – 2030
            5.3.1.3. U.K. Deep-Cycle Battery Market by Type, Value (US$ Mn), 2018 – 2030
            5.3.1.4. U.K. Deep-Cycle Battery Market Application, Value (US$ Mn), 2018 – 2030
            5.3.1.5. France Deep-Cycle Battery Market by Type, Value (US$ Mn), 2018 – 2030
            5.3.1.6. France Deep-Cycle Battery Market Application, Value (US$ Mn), 2018 – 2030
            5.3.1.7. Italy Deep-Cycle Battery Market by Type, Value (US$ Mn), 2018 – 2030
            5.3.1.8. Italy Deep-Cycle Battery Market Application, Value (US$ Mn), 2018 – 2030
            5.3.1.9. Turkey Deep-Cycle Battery Market by Type, Value (US$ Mn), 2018 – 2030
            5.3.1.10. Turkey Deep-Cycle Battery Market Application, Value (US$ Mn), 2018 – 2030
            5.3.1.11. Russia Deep-Cycle Battery Market by Type, Value (US$ Mn), 2018 – 2030
            5.3.1.12. Russia Deep-Cycle Battery Market Application, Value (US$ Mn), 2018 – 2030
            5.3.1.13. Rest of Europe Deep-Cycle Battery Market by Type, Value (US$ Mn), 2018 – 2030
            5.3.1.14. Rest of Europe Deep-Cycle Battery Market Application, Value (US$ Mn), 2018 – 2030
        5.3.2. BPS Analysis/Market Attractiveness Analysis


6. Asia Pacific Deep-Cycle Battery Market Outlook, 2018 – 2030

    6.1. Asia Pacific Deep-Cycle Battery Market Outlook, by Type, Value (US$ Mn), 2018 – 2030
        6.1.1. Key Highlights
            6.1.1.1. Flooded Lead-acid Batteries (FLA)
            6.1.1.2. Valve Regulated Lead-acid Batteries (VRLA)
    6.2. Asia Pacific Deep-Cycle Battery Market Outlook, by Application, Value (US$ Mn), 2018 – 2030
        6.2.1. Key Highlights
            6.2.1.1. Stationary
            6.2.1.2. Automotive
            6.2.1.3. Motive Platform
        6.2.2. BPS Analysis/Market Attractiveness Analysis
    6.3. Asia Pacific Deep-Cycle Battery Market Outlook, by Country, Value (US$ Mn), 2018 – 2030
        6.3.1. Key Highlights
            6.3.1.1. China Deep-Cycle Battery Market by Type, Value (US$ Mn), 2018 – 2030
            6.3.1.2. China Deep-Cycle Battery Market Application, Value (US$ Mn), 2018 – 2030
            6.3.1.3. Japan Deep-Cycle Battery Market by Type, Value (US$ Mn), 2018 – 2030
            6.3.1.4. Japan Deep-Cycle Battery Market Application, Value (US$ Mn), 2018 – 2030
            6.3.1.5. South Korea Deep-Cycle Battery Market by Type, Value (US$ Mn), 2018 – 2030
            6.3.1.6. South Korea Deep-Cycle Battery Market Application, Value (US$ Mn), 2018 – 2030
            6.3.1.7. India Deep-Cycle Battery Market by Type, Value (US$ Mn), 2018 – 2030
            6.3.1.8. India Deep-Cycle Battery Market Application, Value (US$ Mn), 2018 – 2030
            6.3.1.9. Southeast Asia Deep-Cycle Battery Market by Type, Value (US$ Mn), 2018 – 2030
            6.3.1.10. Southeast Asia Deep-Cycle Battery Market Application, Value (US$ Mn), 2018 – 2030
            6.3.1.11. Rest of Asia Pacific Deep-Cycle Battery Market by Type, Value (US$ Mn), 2018 – 2030
            6.3.1.12. Rest of Asia Pacific Deep-Cycle Battery Market Application, Value (US$ Mn), 2018 – 2030
        6.3.2. BPS Analysis/Market Attractiveness Analysis


7. Latin America Deep-Cycle Battery Market Outlook, 2018 – 2030

    7.1. Latin America Deep-Cycle Battery Market Outlook, by Type, Value (US$ Mn), 2018 – 2030
        7.1.1. Key Highlights
            7.1.1.1. Flooded Lead-acid Batteries (FLA)
            7.1.1.2. Valve Regulated Lead-acid Batteries (VRLA)
    7.2. Latin America Deep-Cycle Battery Market Outlook, by Application, Value (US$ Mn), 2018 – 2030
        7.2.1. Key Highlights
            7.2.1.1. Stationary
            7.2.1.2. Automotive
            7.2.1.3. Motive Platform
        7.2.2. BPS Analysis/Market Attractiveness Analysis
    7.3. Latin America Deep-Cycle Battery Market Outlook, by Country, Value (US$ Mn), 2018 – 2030
        7.3.1. Key Highlights
            7.3.1.1. Brazil Deep-Cycle Battery Market by Type, Value (US$ Mn), 2018 – 2030
            7.3.1.2. Brazil Deep-Cycle Battery Market Application, Value (US$ Mn), 2018 – 2030
            7.3.1.3. Mexico Deep-Cycle Battery Market by Type, Value (US$ Mn), 2018 – 2030
            7.3.1.4. Mexico Deep-Cycle Battery Market Application, Value (US$ Mn), 2018 – 2030
            7.3.1.5. Argentina Deep-Cycle Battery Market by Type, Value (US$ Mn), 2018 – 2030
            7.3.1.6. Argentina Deep-Cycle Battery Market Application, Value (US$ Mn), 2018 – 2030
            7.3.1.7. Rest of Latin America Deep-Cycle Battery Market by Type, Value (US$ Mn), 2018 – 2030
            7.3.1.8. Rest of Latin America Deep-Cycle Battery Market Application, Value (US$ Mn), 2018 – 2030
        7.3.2. BPS Analysis/Market Attractiveness Analysis


8. Middle East & Africa Deep-Cycle Battery Market Outlook, 2018 – 2030

    8.1. Middle East & Africa Deep-Cycle Battery Market Outlook, by Type, Value (US$ Mn), 2018 – 2030
        8.1.1. Key Highlights
            8.1.1.1. Flooded Lead-acid Batteries (FLA)
            8.1.1.2. Valve Regulated Lead-acid Batteries (VRLA)
    8.2. Middle East & Africa Deep-Cycle Battery Market Outlook, by Application, Value (US$ Mn), 2018 – 2030
        8.2.1. Key Highlights
            8.2.1.1. Stationary
            8.2.1.2. Automotive
            8.2.1.3. Motive Platform
        8.2.2. BPS Analysis/Market Attractiveness Analysis
    8.3. Middle East & Africa Deep-Cycle Battery Market Outlook, by Country, Value (US$ Mn), 2018 – 2030
        8.3.1. Key Highlights
            8.3.1.1. GCC Deep-Cycle Battery Market by Type, Value (US$ Mn), 2018 – 2030
            8.3.1.2. GCC Deep-Cycle Battery Market Application, Value (US$ Mn), 2018 – 2030
            8.3.1.3. South Africa Deep-Cycle Battery Market by Type, Value (US$ Mn), 2018 – 2030
            8.3.1.4. South Africa Deep-Cycle Battery Market Application, Value (US$ Mn), 2018 – 2030
            8.3.1.5. Egypt Deep-Cycle Battery Market by Type, Value (US$ Mn), 2018 – 2030
            8.3.1.6. Egypt Deep-Cycle Battery Market Application, Value (US$ Mn), 2018 – 2030
            8.3.1.7. Nigeria Deep-Cycle Battery Market by Type, Value (US$ Mn), 2018 – 2030
            8.3.1.8. Nigeria Deep-Cycle Battery Market Application, Value (US$ Mn), 2018 – 2030
            8.3.1.9. Rest of Middle East & Africa Deep-Cycle Battery Market by Type, Value (US$ Mn), 2018 – 2030
            8.3.1.10. Rest of Middle East & Africa Deep-Cycle Battery Market Application, Value (US$ Mn), 2018 – 2030
        8.3.2. BPS Analysis/Market Attractiveness Analysis


9. Competitive Landscape

    9.1. Capacity vs Application Heatmap
    9.2. Manufacturer vs Application Heatmap
    9.3. Company Market Share Analysis, 2022
    9.4. Competitive Dashboard
    9.5. Company Profiles
        9.5.1. C&D Technologies Inc.
            9.5.1.1. Company Overview
            9.5.1.2. Product Portfolio
            9.5.1.3. Financial Overview
            9.5.1.4. Business Strategies and Development
        9.5.2. Trojan Battery
            9.5.2.1. Company Overview
            9.5.2.2. Product Portfolio
            9.5.2.3. Financial Overview
            9.5.2.4. Business Strategies and Development
        9.5.3. Crown Battery Manufacturing Co.
            9.5.3.1. Company Overview
            9.5.3.2. Product Portfolio
            9.5.3.3. Financial Overview
            9.5.3.4. Business Strategies and Development
        9.5.4. East Penn Manufacturing Co. Inc.
            9.5.4.1. Company Overview
            9.5.4.2. Product Portfolio
            9.5.4.3. Financial Overview
            9.5.4.4. Business Strategies and Development
        9.5.5. Johnson Controls International Plc
            9.5.5.1. Company Overview
            9.5.5.2. Product Portfolio
            9.5.5.3. Financial Overview
            9.5.5.4. Business Strategies and Development
        9.5.6. EnerSys
            9.5.6.1. Company Overview
            9.5.6.2. Product Portfolio
            9.5.6.3. Financial Overview
            9.5.6.4. Business Strategies and Development
        9.5.7. EverExceed Industrial Co. Ltd.
            9.5.7.1. Company Overview
            9.5.7.2. Product Portfolio
            9.5.7.3. Financial Overview
            9.5.7.4. Business Strategies and Development
        9.5.8. Exide Technologies
            9.5.8.1. Company Overview
            9.5.8.2. Product Portfolio
            9.5.8.3. Business Strategies and Development
        9.5.9. Rolls Battery        
            9.5.9.1. Company Overview
            9.5.9.2. Product Portfolio
            9.5.9.3. Financial Overview
            9.5.9.4. Business Strategies and Development
        9.5.10. GS Yuasa Corp.
            9.5.10.1. Company Overview
            9.5.10.2. Product Portfolio
            9.5.10.3. Financial Overview
            9.5.10.4. Business Strategies and Development
        9.5.11. HBL Power Systems Ltd.
            9.5.11.1. Company Overview
            9.5.11.2. Product Portfolio
            9.5.11.3. Financial Overview
            9.5.11.4. Business Strategies and Development


10. Appendix

    10.1. Research Methodology
    10.2. Report Assumptions
    10.3. Acronyms and Abbreviations

BASE YEAR

HISTORICAL DATA

FORECAST PERIOD

UNITS

2022

 

2018 - 2022

2023 - 2030

Value: US$ Million

 

REPORT FEATURES

DETAILS

Type Coverage

  • Flooded Lead-acid Batteries (FLA)
  • Valve Regulated Lead-acid Batteries (VRLA)

Application Coverage

  • Stationary
  • Automotive
  • Motive Platform

Geographical Coverage

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of EU
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil 
    • Mexico 
    • Rest of Latin America 
  • Middles East & Africa
    • GCC Countries 
    • South Africa 
    • Rest of Middle East & Africa

Leading Companies

  • C&D Technologies Inc.
  • Trojan Battery
  • Crown Battery Manufacturing Co.
  • East Penn Manufacturing Co. Inc.
  • S. Battery Manufacturing Company
  • Johnson Controls International Plc
  • EnerSys
  • EverExceed Industrial Co. Ltd.
  • Exide Technologies
  • Rolls Battery
  • GS Yuasa Corp.
  • HBL Power Systems Ltd. 

Report Highlights

Key Market Indicators, Macro-micro economic impact analysis, Technological Roadmap, Key Trends, Driver, Restraints, and Future Opportunities & Revenue Pockets, Porter’s 5 Forces Analysis, Historical Trend (2019-2021), Market Estimates and Forecast, Market Dynamics, Industry Trends, Competition Landscape, Category, Region, Country-wise Trends & Analysis, COVID-19 Impact Analysis (Demand and Supply Chain)

FAQs : Deep-Cycle Battery Market

The increasing demand for renewable energy sources, the rise in off-grid power systems, and the growing adoption of electric vehicles are key drivers propelling the global deep-cycle battery market.

Deep-cycle batteries support sustainable energy storage solutions, enabling efficient use of renewable energy, reducing dependence on non-renewable sources, and promoting eco-friendly practices in various industries.

Innovations in materials, such as advanced lead-acid and lithium-ion technologies, coupled with smart battery management systems, are enhancing efficiency, longevity, and overall performance, driving competitiveness in the deep-cycle battery market.

Government incentives, regulations supporting renewable energy integration, and policies encouraging energy storage installations are creating a favourable environment for the deep-cycle battery market, fostering its growth globally.

The major challenges include initial investment costs, technology standardization, and recycling concerns. Addressing these requires increased awareness, collaborative industry efforts, and ongoing research to improve cost-effectiveness, and environmental sustainability in deep-cycle battery solutions.

Our Research Methodology

Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.

View Methodology
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