Gel Batteries Market Size, Share, Growth, And Industry Analysis By Type (Below 100 Ah, 100Ah~200Ah, More Than 200Ah) By Application (Telecom, UPS, Emergency Lighting, Security, Photovoltaic, Railways, Motorcycle, Other Vehicles, Utility), Regional Insights, and Forecast To 2031

Updated On: 13 November 2023

Gel Batteries Market Report Overview

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The global gel batteries market size was USD 3423.4 million in 2022 and market is expected to reach USD 10786.1 million in 2031, exhibiting a compound annual growth rate (CAGR) of 13.6% during the forecast period.

Typically, a lead-acid automotive or marine battery is modified to create a gel battery. The electrolyte has a gelling chemical added to it to minimize movement inside the battery box. In addition, one-way valves, which are frequently used in place of open vents in gel batteries, allow the battery's typical internal gases to recombine into water, minimizing gassing. Gel batteries are typically less heat-tolerant and charge at a lower power than conventional or AGM batteries.

Cell phones, off-grid power systems, camcorders, motorcycles, and maritime equipment all employ gel batteries. Gel batteries can be inserted at unusual angles as well. Gel batteries are typically chosen for motorbike design because of their minimal weight. Gel batteries require less upkeep than conventional flooded cells and are spill-proof. Gel batteries are therefore employed in marine devices.

COVID-19 Impact: COVID 19 Outbreak Negatively Affected The Global Market

To stop the coronavirus from spreading, the governments of various nations throughout the world have implemented strict lockdowns. Lockdowns have halted human movement as well as economic activities involving products and services. Because of this, there is now less need for electricity for business use. The result has been a challenge for the global gel battery market. The Covid-19 outbreak and the ensuing worldwide lockdowns had a significant negative impact on a number of sectors. The market for gel batteries had also suffered. The supply of raw materials was interrupted since China, the pandemic's hub, supplies the majority of the raw materials needed to make gel batteries. This caused shocks on both fronts for the gel battery business. Gel battery production was also put on hold as a result of a decline in consumer demand, which hurt sales even more.

Latest Trends

"Wide Applicability Of Gel Batteries Will Aid A Growth In The Market"

In the foreseeable future, increasing use of gel batteries in deep cycle devices such cell phones, camcorders, motorcycles, etc. is anticipated to present the market with tremendous potential opportunities. In addition, rising demand for gel batteries in solar power systems is anticipated to accelerate market expansion.

El batteries are used in off-grid solar photovoltaic (PV) systems as energy storage devices. This is one of the main drivers influencing the market, along with the rising demand for solar power equipment to provide backup during power outages in distant places. Governments from several nations are also pushing the use of renewable energy sources through tax breaks, subsidies, and price reductions on various solar panel parts. In keeping with this, the growing use of gel batteries as backup in computers, floor scrubbers, and golf carts is driving the market expansion.

Gel Batteries Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Below 100 Ah, 100Ah~200Ah, More Than 200Ah. 100 Ah is anticipated to have a dominant market share.

• By Application Analysis

Based on application, the market can be divided into Telecom, UPS, Emergency Lighting, Security, Photovoltaic, Railways, Motorcycle, and Others Vehicles Utility. Telecom will be the dominating segment during forecast period.

Driving Factors

"Steady Rise In Customer Need Leading Market Expansion"

Consumer needs for mobility vary across industrialized and developing nations. Consumers are anticipated to soon purchase cars as a result of ongoing urbanization. It is anticipated that the demand for gel batteries in regions including Asia Pacific, Latin America, and the Middle East & Africa will soon expand due to an increase in new car sales and an increase in the number of on-road cars in these regions.

The infrastructure of the electric grid has changed as a result of growing awareness of energy production from renewable sources. The usage of off-grid systems is being encouraged by the governments of numerous nations. Renewable energy sources' electricity is independently handled in an off-grid system. One of the essential parts of this system for energy storage is a gel battery. Thus, the market for gel batteries is anticipated to grow as off-grid installations increase.

"Solar Power Systems' High Demand for Gel Batteries Will Fuel Market Growth"

Due to their expanding use in solar power systems, gel batteries have recently experienced a boom in demand. The gel battery market is anticipated to rise throughout the projected period as a result of this increase in demand. Additionally, a number of benefits of gel batteries, including their resistance to vibration, low level of corrosion, and need for little maintenance, are anticipated to further expand the market.

Restraining Factors

"Gel batteries are sensitive to overcharging, which is anticipated to impede market expansion"

The charging of a gel battery requires careful handling because doing so risks creating electrolyte gaps that could harm the battery. The battery loses its ability to charge as a result of the level of damage caused by overcharging, which is anticipated to impede market growth over the forecast period. However, it is anticipated that sensitivity to overcharging would become a barrier to the market's expansion for gel batteries.

Gel Batteries Market Regional Insights

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"Asia Pacific has the largest and fastest-growing gel battery market."

The market for gel batteries in Asia Pacific will capture the maximum market share through 2028. The existence of numerous gel battery suppliers and manufacturers in this area is largely responsible for this expansion. For instance, The Washington Post reported on February 11, 2021 that China controls the global battery production capacity thanks to the existence of 93 "gigafactories" that produce various types of batteries.

Furthermore, it is predicted that China would have 140 gigafactories by 2030, followed by Europe with 17 and the United States with 10. Additionally, the U.S. and other nations rely on China and other trading partners for their supply of batteries. In addition, the JYC gel series battery, created by JYC Battery Manufacturer Co., Ltd., the top gel battery producer based in China, is outfitted with tried-and-true silica gel technology that enhances battery performance and longevity over a wider temperature range.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• EXIDE (India)
• Enersys (U.S.)
• C&D Technologies (U.S.)
• East Penn (U.S.)
• Trojan
• FIAMM (Italy)
• SEC (U.S.)
• Hoppecke (Germany)
• DYNAVOLT (China)
• LEOCH (China)
• Coslight
• HUAFU (China)
• VISION (Bangladesh)
• Shoto (China)
• Sacred Sun (China)
• FENGFAN (China)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.