Global Deep Cycle Batteries Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Deep Cycle Batteries Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

A deep-cycle battery is a lead-acid battery designed to be regularly deeply discharged using most of its capacity. In contrast, starter batteries are designed to deliver short, high-current bursts for cranking the engine, thus frequently discharging only a small part of their capacity. While a deep-cycle battery can be used as a starting battery, the lower cranking current implies that an oversized battery may be required.

Market Overview:

The latest research study on the global Deep Cycle Batteries market finds that the global Deep Cycle Batteries market reached a value of USD 13021.82 million in 2022. It’s expected that the market will achieve USD 17985.7 million by 2028, exhibiting a CAGR of 5.53% during the forecast period.

Emerging and Growing Market of Deep Cycle Batteries

North America, Europe, China, India, South America, Middle East and Africa
The growing demand for electric forklift applications will drive the growth prospects for the global deep cycle batteries market. Some of the major end users of battery-powered forklifts are retail and wholesale, logistics, mechanical or automotive, food and beverages, chemical industries. Furthermore, some of the major factors responsible for the growing preference for electric forklifts among these end-users is its low emission and noise hazard characteristics, longer lifespan, and the elimination of fuel costs.
Some of the major factors responsible for the market’s growth in the region is the growing demand for batteries in developing countries such as China and India along with the batteries offered by local manufacturers at a lower price.

Opportunities

Improve performance
With the progress in science and technology, the investment of companies, there will be more cost effective, high performance product in the future.
Emerging countries
For example, China, India are developing their industries, with the progress of economy and technology, the increasing demand downstream, the market of Deep Cycle Batteries has great market potential.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview:

EnerSys is one of the major players operating in the Deep Cycle Batteries market, holding a share of 19.32% in 2020.

EnerSys

EnerSys manufactures, markets, and distributes industrial batteries. The Company also manufactures, markets, and distributes related products such as chargers, power equipment, and battery accessories. EnerSys provides related after-market and customer-support services for lead-acid industrial batteries.

Johnson Controls

Johnson Controls International plc is a multinational conglomerate headquartered in Cork, Ireland, that produces automotive parts such as batteries, and electronics and HVAC equipment for buildings. It employs 170,000 people in more than 1,300 locations across six continents.

Segmentation Overview:

By type, VRLA batteries segment accounted for the largest share of market in 2021.

VRLA Batteries

A valve-regulated lead-acid battery (VRLA battery) sometimes called sealed lead-acid (SLA). Due to their construction, the gel and absorbent glass mat (AGM) types of VRLA can be mounted in any orientation, and do not require constant maintenance.

FLA Batteries

Flooded lead acid batteries have the longest track record in solar electric use and are still used in the majority of stand-alone alternative energy systems. They have the longest life and the least cost per amp-hour of any of the choices.

Application Overview:

By application, the Johnson Controls segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Deep Cycle Batteries market covered in Chapter 3:

Trojan Battery
Rolls Battery
Zibo Torch
HOPPECKE
Exide Industries
Crown Battery
EverExceed
EaglePicher
GS Yuasa
Exide Technologies
C&D Technologies
Leoch
EnerSys
HBL Power Systems
East Penn Manufacturing
COSLIGHT
Johnson Controls

In Chapter 4 and Chapter 14.2, on the basis of types, the Deep Cycle Batteries market from 2018 to 2029 is primarily split into:

VRLA Batteries
FLA Batteries

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Deep Cycle Batteries market from 2018 to 2029 covers:

Motive
Stationary
Automotive

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)