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 2025-2032


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

Gel Battery Market Dynamics

Drivers

Low Maintenance and Low Costs of Recycling

  • 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.

Growing Demand for Renewable Energy Storage

  • High emphasis on sustainability around the world has resulted in high demand for renewable energy storage on a global level and this trend is projected to bolster sales of get batteries in the long run. High use of gel batteries for renewable energy storage applications will boost market growth.

Restraints

Overcharging Issues

  • Gel batteries are extremely sensitive to overcharging issues as overcharging them could damage them. Overcharging results in the development of a void in the electrolyte of the battery and renders it useless, which could restrain the gel battery market growth to a certain extent.

Limited Energy Density

  • Gel batteries are not as energy dense as other battery alternatives available in the global marketplace, which is a key fzactor that is estimated to slow down gel battery sales going forward. Moreover, advancements in alternative battery technologies are also slated to hurt gel battery market development in the future.
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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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