Industrial Battery Chargers Market
Industrial Battery Chargers Market By Technology (Ferroresonant Chargers, Hybrid Chargers, SCR Chargers), By Battery Type (Lithium Batteries, NiCd Batteries, Plante Batteries), By Configuration, By Power Rating, By Battery Rated Voltage, By End Use & By Region - Global Market Insights 2023 to 2033
Analysis of Industrial Battery Chargers Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Industrial Battery Chargers Market Outlook (2023 to 2033)
The global industrial battery chargers market is valued at US$ 2.3 billion in 2023 and is forecasted to reach US$ 4.5 billion by 2033-end. Global demand for industrial battery chargers is predicted to rise rapidly at a CAGR of 7% from 2023 to 2033.
Industrial battery chargers are devices used for recharging an industrial battery so that it continues to operate effectively. Depending on their unique characteristics and purposes, these chargers come in a variety of varieties. Ferroresonant chargers are widely used in the mining and manufacturing sectors. Recent advancements in charger technologies, such as decreased size and weight, are driving the demand for ferroresonant chargers.
Large battery banks that are utilized in a variety of sectors, including IT, telecom, and power, are charged using industrial battery chargers. In large companies, the power supply must be constant since even a brief power outage might result in significant losses. Very often, batteries are utilized to prevent such events.
Energy storage is in extremely high demand due to rising technological innovation in battery-powered mobility, the energy and power industries, etc. As a result, industrial battery chargers are in great demand all around the world. Moreover, expanding new power infrastructure construction throughout the world fuels the need for industrial battery chargers.
Batteries can hold energy for a long time. They are extremely useful in providing energy delivery that is more efficient than a thermal engine. In contrast to other power sources, such as generators, the response time of batteries is immediate.
It takes a diesel generator two to three minutes to start up, and it produces a lot of smoke, which pollutes the air. Batteries, on the other hand, emit no smoke, deliver power right away, and reduce the environmental impact. Every industry needs a reliable industrial battery charger. To ensure uninterrupted operation of the equipment or machines that include batteries, it is necessary to charge the batteries in those devices.
Industrial battery chargers transmit electric current to rechargeable batteries or secondary cells to transfer electrical energy to them. Industrial battery chargers come in a variety of forms and are employed by diverse sectors of the economy. The battery capacity placed in the electrical or electronic gadget determines the type of industrial charger that should be used.
Development of battery charger technology is another element influencing the market's expansion. For instance, intelligent battery chargers can avoid overcharging by turning off automatically when batteries are completely charged. Moreover, these chargers have the ability to monitor voltage and temperature, which prolongs battery life.
Industrial Battery Chargers Market Size (2023)
US$ 2.3 Billion
Forecasted Market Value (2033)
US$ 4.5 Billion
Global Market Growth Rate (2023 to 2033)
Market Share of Ferroresonant Chargers (2023)
Key Companies Profiled
What is Driving the Industrial Battery Chargers Market Forward?
“Surging Popularity of Electric Vehicles”
Demand for electric vehicles is increasing due to the pollution caused by the emissions of toxic gases from automobiles. These electrical vehicles’ batteries need to be charged after a specific time, and the right kind of vehicle charger needs to be utilized. This is the main element fueling the demand for industrial battery chargers.
“Increasing Emphasis on Creation of Smart Grids”
The rising deployment of industrial battery chargers to make grids more cost-effective, secure, and safe is what is fueling market revenue. It is projected that increased emphasis on the creation of smart grids will have a substantial influence on market growth.
It is anticipated that the market for industrial battery chargers, which has benefited from advancements in battery technology, will continue to grow. This technology is employed in many industrial processes since smart solutions are becoming more popular.
Increasing investments in energy distribution and transmission infrastructure are boosting market growth. It is projected that the improvements in power distribution and control would facilitate the growth of the worldwide industrial battery chargers market over the forecast period.
“Growing Adoption of Renewable Energy Sources”
It is predicted that one of the key factors enhancing the need for industrial battery chargers across all end-use industries, notably in the utility industry, would be the shift from non-renewable to renewable energy sources. Also, there has been an increase in the investments made by private and public businesses in a variety of renewable energy projects, particularly those that are based on solar energy.
The goal is to achieve a sustainable kind of economy, which will require more attention to renewable energy sources. The deployment of green energy solutions in existing as well as new energy grids is driving market growth.
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What Could Restrain Industrial Battery Charger Adoption?
“High Installation & Maintenance Costs and Availability of Substitutes”
High installation and maintenance costs and a decrease in the local supply of raw materials are restraining market growth. The high initial cost of industrial battery chargers is the main market limitation. Market expansion is also being hampered by the high costs associated with switching and replacement.
Industrial battery chargers come in a wide variety of capacities, sizes, prices, and other technical characteristics on the global market. There are more unintended occurrences linked to the usage of cheap chargers, and certain cheap devices might not be safe to use.
Lithium-ion batteries are prone to catching fire due to their extraordinary sensitivity to high temperatures. Using inappropriate chargers can cause the battery's temperature to soar, creating very risky circumstances.
Which Regional Market is Catching the Attention of Industrial Battery Charger Manufacturers?
“Rapid Expansion of Oil & Gas Industry in North America”
North America accounts for 40% share of the global market.
The rapid expansion of the oil and gas industry is anticipated to fuel market expansion in North America. Increasing emphasis on IT and communication technologies are boosting market value in the region. It is also projected that government initiatives and regulations to support renewable energy would fuel market expansion over the coming years.
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What is the Demand Outlook for Industrial Battery Chargers in the United States?
“Rapid Adoption of Industrial Battery Chargers by IT Companies”
The need for industrial battery chargers in the United States is rising rapidly due to the expansion of IT and data centers. The adoption of IoT assists the expansion of IT and data centers, which, in turn, supports the demand for industrial battery chargers and eventually supports market development in the country. Increasing electric car battery charger demand and rapid digitization are stimulating market revenue in the United States.
Why are Sales of Industrial Battery Chargers Booming in Germany?
“Favorable Government Programs to Promote Use of Smart Grids in Mining Industry”
The market in Germany is anticipated to increase significantly over the forecast period due to the rising need for lead-acid batteries in the transportation industry. The market in Germany is being driven by favorable government programs and funding to promote the use of smart grids in the mining industry.
How is the Market for Industrial Battery Chargers Progressing in China?
“Growing Usage of Industrial Battery Chargers in Marine Industry”
Industrial battery charger adoption in China is expected to rise across the manufacturing industries as a result of the rising need for green energy solutions over the coming years. The growing usage of industrial battery chargers in the marine industry is supporting market expansion in China.
Why are Ferroresonant Chargers Widely Utilized?
“Ferroresonant Chargers Offer More Protection Against AC Fluctuations”
Based on technology, the market is classified into ferroresonant chargers, high-frequency chargers, hybrid chargers, and SCR chargers.
- Ferroresonant chargers account for 50% share of the global market.
Technological advancements have improved ferroresonant charger efficiency. More protection against AC fluctuations is provided by ferroresonant chargers. This helps to prevent battery efficiency variations and any damage to the device operating on it.
Temperature and humidity-related environmental conditions have less impact on ferroresonant chargers. This is a significant benefit of ferroresonant chargers. Ferroresonant chargers have a long lifespan and may operate for approximately 15 years with the least amount of upkeep and repair. Ferroresonant chargers have a larger market share than other charger technologies due to the aforementioned advantages.
Which End Use is Likely to Contribute the Most to Market Expansion?
“Rapid Adoption of IoT in IT & Data Centers Driving Demand for Industrial Battery Chargers”
The market is segmented into energy & power, infrastructure, IT & data centers, manufacturing, marine, mining, oil & gas, railways, and telecommunications based on end use. Industrial battery chargers are gaining traction in IT and data centers.
The demand for industrial battery chargers is rising due to the rapid adoption of IoT in IT and data centers. The need for additional energy storage has increased due to rising industrialization worldwide and technological innovations.
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Leading companies are focusing on quality control, new developments, and introducing new products with updated technologies while following safety regulations to maintain their position in the market. Top industrial battery charger manufacturers are concentrating on product standards, supply chain management, and pricing trends to expand their global presence.
- In 2020, Applied Power Systems (APS), launched BC-6964 a three-phase industrial battery charger specially designed for hazardous location applications.
- In 2020, a top manufacturer of batteries, Delta Q, introduced the QC350, a new advanced sealed charger. The QC 350 is intended for use in recharging electric car batteries. This charger is designed to be small and portable so that it may be used for charging with ease.
Key Segments of Industrial Battery Chargers Industry Research
By Technology :
- Ferroresonant Chargers
- High-frequency Chargers
- Hybrid Chargers
- SCR Chargers
By Battery Rated Voltage :
- Up to 24V
- 110 V
- Above 110V
By Output Charging Current :
- 15A to 50A
- 51A to 150A
- 151A to 250A
- 251A to 500A
- Above 500A
By Power Rating :
- Up to 5KW
- 5KW to 15KW
- 10KW to 15KW
- Above 15KW
By Battery Type :
- Lithium Batteries
- NiCd Batteries
- Plante Batteries
- Sealed Lead Acid (SLA) Batteries
By Configuration :
- Dual FCBC
- FC & BC
- FC & FCBC
By End Use :
- Energy & Power
- IT & Data Centers
- Oil & Gas
By Region :
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- FAQs -
The global industrial battery chargers market is valued at US$ 2.3 billion in 2023.
Demand for industrial battery chargers is forecasted to reach US$ 4.5 billion by 2033.
Sales of industrial battery chargers are forecasted to increase at a CAGR of 7% through 2033.
North America accounts for 40% share of the global market.
Hitachi Ltd., EnerSys, and Exide Technologies are the top manufacturers of industrial battery chargers.