Global Genset Battery Market 2016-2020

Market outlook of the global genset battery market

Technavio’s research analyst predicts the global genset battery market to grow steadily at a CAGR of around 7% during the forecast period. Shortage of power and energy primarily drives this market. As power outages have become more prevalent with growing urbanization and industrialization in emerging markets, the demand for gensets has witnessed consistent growth.

There is a growing consumer expectation for genset batteries that offer higher power density, longer service life, and quicker recharge capabilities. These attributes ensure there is sufficient crank power to start gensets even at lower temperatures. Therefore, market vendors are focusing on the manufacture of batteries that offer efficient cranking power. It is expected to increase the sales of lead-acid and NiCd batteries and propel the overall market for genset batteries over the next four years.

End-user segmentation and analysis of the genset battery market

• Residential
• Commercial
• Industrial

The industrial segment held the largest market share in 2015 owing to rapid growth in industrialization. Power outages in manufacturing industries can result in huge losses due to a halt in production. Gensets used in industrial and construction applications require high rated capacities. These gensets are quite expensive and require more space as compared to others. Genset batteries have the capability to sustain in harsh environments and operate for long hours. These batteries have the capability to tolerate long overcharge intervals and offer a constant voltage output throughout the discharge cycle.

Geographical segmentation and analysis of the global genset battery market

• Americas
• APAC
• EMEA

APAC held the largest market share in 2015 and is expected to post robust growth until 2020 on account a rising demand from India and China. This region suffers from frequent power demand-supply gap, and it has led to frequent power blackouts in countries like India, Indonesia, the Philippines, and China, thus propelling the market for genset batteries.

Competitive landscape and key vendors

Though genset OEMs are manufacturing their batteries; they face stiff competition from local and regional battery OEMs. Many local and international manufacturers are widening their product portfolios to meet end-user expectation.

The leading vendors in the market are: -

• Cummins
• EnerSys
• Exide
• Leoch International

Other prominent vendors in the market include Amara Raja Batteries, Generac, and Kohler.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global genset battery market?
• What are the key market trends impacting the growth of the global genset battery market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the vendors in the global genset battery market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global genset battery market?

Technavio also offers customization on reports based on specific client requirement.

Related reports:

• Gensets Market in India 2015-2019