Global Gel Battery Market

Gel Battery Market Size, Share, Growth Analysis, By Type(2V, 6V, 12V, and Others), By Application(Electric Mobility, Energy Storage & Distribution, Telecommunication, and Others), By Region - Industry Forecast 2024-2031

Report ID: SQMIG20D2231 | Region: Global | Published Date: March, 2024
Pages: 200 | Tables: 65 | Figures: 70

Gel Battery Market Competitive Landscape

Gel battery manufacturers are focusing on expanding their sales by collaborating and partnering with different industries where batteries are being used on a large scale. Companies are also investing in R&D to improve the efficiency and power output of gel batteries which will help them widen their application scope and revenue generation as well. Gel battery recycling is also a key area of interest for gel battery manufacturers looking to make the most out of their products and boost profitability.

Top Player’s Company Profiles

  • Power Sonic Corporation
  • Canbat Technologies Inc.
  • ABB
  • JYC Battery Manufacturing Co. Ltd.
  • Leoch International Technology Limited Inc.
  • Exide Technologies
  • Mighty Max Battery
  • Vision Group
  • Harbin Coslight Storage Battery Co. Ltd.
  • BSB Power Company Limited
  • B.B. TECH (Changsha) Co. Ltd..
  • Storage Battery Systems
  • EnerSys
  • Fiamm Energy Technology
  • Wolong Electric Group Co. Ltd.

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FAQs

gel battery market size was valued at USD 2.2 billion in 2022 and is poised to grow from USD 2.3 billion in 2023 to USD 3.24 billion by 2031, growing at a CAGR of 4.4% in the forecast period (2024-2031).

Gel battery manufacturers are focusing on expanding their sales by collaborating and partnering with different industries where batteries are being used on a large scale. Companies are also investing in R&D to improve the efficiency and power output of gel batteries which will help them widen their application scope and revenue generation as well. Gel battery recycling is also a key area of interest for gel battery manufacturers looking to make the most out of their products and boost profitability. 'Power Sonic Corporation', 'Canbat Technologies Inc.', 'ABB', 'JYC Battery Manufacturing Co. Ltd.', 'Leoch International Technology Limited Inc.', 'Exide Technologies', 'Mighty Max Battery', 'Vision Group', 'Harbin Coslight Storage Battery Co. Ltd.', 'BSB Power Company Limited', 'B.B. TECH (Changsha) Co. Ltd..', 'Storage Battery Systems', 'EnerSys', 'Fiamm Energy Technology', 'Wolong Electric Group Co. Ltd.'

Gel batteries are extremely low maintenance and can last a long period of time before needing to be replaced. Disposing and recycling gel batteries is relatively inexpensive as compared to lithium-ion batteries, which is also a trend that is driving gel battery market development.

Rising Adoption of Renewable Energy: Growing adoption of renewable energy sources around the world could also foster the demand for gel batteries as they are essential in storing energy for a longer period of time.

Robust automotive production and increasing manufacturing and demand for electric mobility vehicles in the Asia Pacific region allow it to account for the largest market share in the world. China is estimated to spearhead the demand for gel batteries in this region followed by India, Japan, and South Korea across the forecast period. Growing adoption of UPS systems for uninterrupted power supply and rising focus on sustainability are other factors that contribute to the gel battery market growth in the Asia Pacific region.

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Global Gel Battery Market

Report ID: SQMIG20D2231

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