Compared to replacing the battery, battery rebuilding services are a more affordable option. Instead of buying a brand-new battery, a battery can be rebuilt by repairing and replacing individual parts, such as cells or modules. The market for battery rebuild services is significantly fueled by the growing emphasis on environmental sustainability. Rebuilding batteries increases their life expectancy, decreasing the demand for new batteries and lowering the amount of electronic trash produced. The demand for battery rebuild services is being driven by the electric vehicle (EV) market's explosive rise. Over time, EV batteries deteriorate, which affects their performance and range. Batteries are one type of energy storage used in the expanding deployment of renewable energy systems like solar and wind.
Market size for Battery Rebuild Services increased from US$ 3.90 billion in 2023 to US$ 6.18 billion in 2030, at a compound annual growth rate (CAGR) of 6.8%.
Leading Companies in the Battery Rebuild Service Industry:
1. Battery Builders Inc.: Established in 1950. Head office in the United States. Manufacturer of heavy-duty industrial lead-acid batteries for North American lift truck fleets. The business provides direct current (DC) power solutions that are affordable, low maintenance, and recyclable for commercial, industrial, and solar motive power applications. By doing so, it aids in the development of DC power sources that are reasonably priced. Two battery energy storage system projects are acquired by JSW Energy from SECI.
2. Interco Trading Company: Established in 2011. United States headquarters. Developer of a conversational engagement platform for forging close bonds with clients. The company's platform enables companies to track and filter consumer data, build their business, and explore their clients' social networks and contact information.
3. Interstate Batteries Inc.: Built in 1952. United States headquarters. Car replacement battery producer. The business sells automobile batteries as well as batteries for a range of portable devices, including laptop computers, cordless tools, and smartphones. Increased Presence With Longtime Partner Joe Gibbs Racing, According to Interstate Batteries®.
4. Johnson Controls International plc: Established in 1885. Head office in the United States. Johnson Controls produces, installs, and provides maintenance for HVAC systems, building management controls, commercial refrigeration systems, and solutions for fire and security. About 40% of sales are made up of commercial HVAC, 40% of sales are made up of fire and security, and the remaining 20% of sales are made up of residential HVAC, industrial refrigeration, and other solutions. Johnson Controls made more over $25 billion in revenue during the 2022 fiscal year. A rising provider of high-temperature energy management solutions with a focus on heat pumps for district heating and industrial processes, Hybrid Energy AS was purchased by Johnson Controls (NYSE: JCI), the world leader for smart, healthy, and sustainable buildings.
5. Tesla Inc.: Tesla, a vertically integrated sustainable energy firm with headquarters in Palo Alto, California, was established in 2003 with the goal of bringing about a global shift to electric mobility. The business offers batteries for stationary energy storage for residential and commercial premises, including utilities, in addition to solar panels and solar roofs for energy generating. The fleet of Tesla includes a variety of automobiles, such as luxury and medium sedans and crossover SUVs. The business also intends to start offering more reasonably priced sedans, compact SUVs, light trucks, semi-trucks, and sports cars. Over 1.3 million automobiles were delivered globally in 2022.
6.Relectrify Pty Ltd.: Established in 2015. Headquarters in Australia. Creator of a battery management system that aims to make sustainable and economical energy storage. The company's technology enables industries to provide affordable and sustainable energy storage for the best battery performance and lifetime by providing hardware electronics controlling power flows inside battery packs, embedded software algorithms that inform how the hardware electronics operate, and data analytics to monitor batteries. VivoPower International PLC Announces a Letter of Intent to Purchase 100% of GB Auto.
7. Enertec Batteries Pty Ltd: In December 2009, the original company became Enertec Batteries Pty Ltd. Enertec is a distribution and service centre for all lead acid and cutting-edge battery technologies that is knowledge-based. We are experts in battery management system applications.The dynamic team at Enertec is made up of individuals who are enthusiastic about what they do, are skilled at what they do, and are highly motivated.
*Definition: The Battery Rebuild Service market refers to the industry that provides services for refurbishing, repairing, and extending the lifespan of batteries.
