More than 1.3 million industrial battery chargers were sold in 2018, according to a recent market research intelligence study.
The study, conducted by Future Market Insights, projects a strong increase of over 7% in the procurement of industrial battery chargers in 2019.
The research firm notes that since industrialisation continues to generate ever-growing demand for energy storage, the industrial battery chargers are likely to witness heavy adoption.
More than 35% of the global demand for industrial battery chargers is accounted for by IT and data centre, and energy and power industries, as indicated by the analysis.
- SLA (sealed lead acid) batteries, representing a dominant market value share, will face strong competition from NiCd (Nickel-Cadmium) and plante batteries in coming years.
- FCBC (float cum boost) and dual FCBC configurations are likely to emerge highly lucrative for industrial battery charger manufacturers.
- Hybrid technology industrial battery chargers will reportedly emerge as the most attractive segment in industrial battery chargers market, within the next few years.
Favourable government initiatives to accelerate adoption of industrial battery chargers
Increase in the energy distribution and transmission infrastructure backed by favourable governmental regulatory framework, and the flourishing trend of sustainability through non-conventional alternatives as energy sources are playing a vital role in establishing a strong adoption base for industrial battery chargers. Read more: Dubai’s biggest solar park installs
“The rate of industrial battery chargers’ procurement will significantly take off as electrification continues to receive strong governmental support.
Subsidies offered by regional and local governments for procurement of energy systems based on alternative sources at economical capital costs are strongly backed by climbing new grid sales, which necessitate the deployment of secondary or rechargeable batteries for energy transmission and distribution.
The report opines that this will play a pivotal role in encouraging sales of industrial battery chargers in the near future.