Deep Cycle Batteries Market by Type, Application, and Geography - Forecast and Analysis 2021-2025

The deep cycle batteries market share is expected to increase by USD 2.41 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 3.43%.

This deep cycle batteries market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers deep cycle batteries market segmentations by type (VRLA batteries and FLA batteries), application (stationary, automotive, and motive power), and geography (APAC, North America, Europe, South America, and MEA). The deep cycle batteries market report also offers information on several market vendors, including C&D Technologies Inc., Crown Battery Manufacturing Co., East Penn Manufacturing Co. Inc., EnerSys, EverExceed Industrial Co. Ltd., Exide Industries Ltd., Exide Technologies, GS Yuasa Corp., HBL Power Systems Ltd., and Johnson Controls International Plc among others.

What will the Deep Cycle Batteries Market Size be During the Forecast Period?

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Deep Cycle Batteries Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growing use of golf carts among the older population is notably driving the deep cycle batteries market growth, although factors such as growth in the use of Li-ion batteries may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the deep cycle batteries industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Deep Cycle Batteries Market Driver

The growing use of golf carts among the older population is notably driving the deep cycle batteries market growth. In developed countries such as the US, golf carts have become ideal for the elderly population. Other than their use in golf centers, these carts are quite handy for chores such as buying groceries and for commuting very short distances. In India, the government has introduced golf carts in the public sector for the older population. In India, the government has also started using golf carts in airports too. The Saudi Railway Organization also offers golf cart service for senior citizens and passengers with disabilities at the Dammam, Riyadh, and Hofuf rail stations. Golf carts are being used for daily commuting, and the trend is growing. Such adoption of golf carts for diversified applications is anticipated to drive the demand for golf carts during the forecast period.

Key Deep Cycle Batteries Market Trend

Growing high-speed rail networks in developing nations is the key market trend driving the deep cycle batteries market growth. Developing countries in APAC, namely China and India, are increasingly investing in high-speed rail networks. In October 2019, the Railways department of India announced its plan to invest about $2574 million to upgrade the infrastructure on the Delhi-Mumbai and Delhi-Kolkata routes to operate trains at a speed of 160 kmph. Similarly, in January 2019, China announced its plan to invest 6,800 km of new railway lines in 2019, out of which about 3,200 were planned to be a high-speed rail track. There has been a significant rise in the number of high-speed trains over the past few years. These developments entail the significant potential for the overall growth of the deep cycle batteries for the rolling stock market. 

Key Deep Cycle Batteries Market Challenge

The major challenge impeding the deep cycle batteries market growth is the growth in the use of Li-ion batteries. Li-ion batteries are the most dominant technology for Internet services. Advances in technology in the telecom sector, such as 4G/LTE, require a continuous and efficient power supply. Attributes such as prolonged lifespan and longer replacement time of Li-ion batteries make them an ideal choice for energy storage in the telecom sector. Due to these factors, the use of Li-ion batteries is increasing day by day. The growth in the Li-ion battery market is resulting in declining in the global lead-acid battery market, which directly affects the global deep cycle batteries market owing to the increase in adoption of the Li-ion battery in applications such as ESS and telecom towers.

This deep cycle batteries market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global deep cycle batteries market as a part of the global electronic components market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the deep cycle batteries market during the forecast period.

Who are the Major Deep Cycle Batteries Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• C&D Technologies Inc.
• Crown Battery Manufacturing Co.
• East Penn Manufacturing Co. Inc.
• EnerSys
• EverExceed Industrial Co. Ltd.
• Exide Industries Ltd.
• Exide Technologies
• GS Yuasa Corp.
• HBL Power Systems Ltd.
• Johnson Controls International Plc

 

This statistical study of the deep cycle batteries market encompasses successful business strategies deployed by the key vendors. The deep cycle batteries market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• EnerSys - The company offers deep cycle batteries such as Hawker series batteries for military vehicles and ODYSSEY Extreme series batteries for marine applications.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The deep cycle batteries market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Deep Cycle Batteries Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the deep cycle batteries market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Deep Cycle Batteries Market?

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53% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for deep cycle batteries market in APAC.

The growth can be attributed to increasing smartphone penetration and rapid growth in rural subscribers, which will facilitate the deep cycle batteries market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 in the region had a negative impact on the growth of the regional deep cycle batteries market in 2020. China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines were under partial or complete lockdowns because of the pandemic. The production of various automobiles and associated components, including deep cycle batteries, was categorized under non-essential services, and therefore, was affected substantially in the first half of 2020. Some logistics and supply chain issues delayed business activities in 2020. However, production across various industries resumed in late 2020 owing to a decline in the lockdown regulations and the regional prevalence rates of the pandemic. The growth of the market is expected to stabilize during the latter half of the forecast period as the normal business activities across industries resume following the containment of the COVID-19 pandemic.

What are the Revenue-generating Type Segments in the Deep Cycle Batteries Market?

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The deep cycle batteries market share growth by the VRLA segment will be significant during the forecast period. VRLA batteries are sealed lead-acid batteries used in UPS, military aircraft, and vehicles, as they reduce weight and improve reliability.  A fiberglass mat is present in the battery, allowing manufacturers to ship batteries without hazardous material restrictions. The main advantage of AGM batteries is that their charge lasts up to five times more than the normal FLA battery. The AGM batteries are expected to maintain their growth during the forecast period owing to these mentioned advantages.

This report provides an accurate prediction of the contribution of all the segments to the growth of the deep cycle batteries market size and actionable market insights on post COVID-19 impact on each segment.

 

Deep Cycle Batteries Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 3.43%
Market growth 2021-2025	$ 2.41 billion
Market structure	Fragmented
YoY growth (%)	2.02
Regional analysis	APAC, North America, Europe, South America, and MEA
Performing market contribution	APAC at 53%
Key consumer countries	US, China, Germany, Japan, and France
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	C&D Technologies Inc., Crown Battery Manufacturing Co., East Penn Manufacturing Co. Inc., EnerSys, EverExceed Industrial Co. Ltd., Exide Industries Ltd., Exide Technologies, GS Yuasa Corp., HBL Power Systems Ltd., and Johnson Controls International Plc
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Deep Cycle Batteries Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive deep cycle batteries market growth during the next five years
• Precise estimation of the deep cycle batteries market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the deep cycle batteries industry across APAC, North America, Europe, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of deep cycle batteries market vendors

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