Regional Analysis

Global Industrial Battery Market: Regional Insights

The global industrial battery market is regionally segmented into North America, Latin America, Asia Pacific, Europe, Middle East, and Africa.

North America is expected gain a strong share in the global industrial battery market over the forecast period. This is owing to countries in the region such as the U.S. and Canada are considered one of the biggest hotspot for industrial batteries around the globe, due to presence of strong industrial infrastructure, expansion of renewable power infrastructure, and increasing deployment of battery-based energy storage projects in the U.S. Along with this, favorable policies regarding use of energy storage systems in the U.S. are also aiding in the growth of the global industrial battery market across North America.

Moreover, Asia Pacific is also anticipated to witness substantial growth in the global Industrial Battery market over the forecast period. This can be attributed to increasing growth of telecom industry, and significant growth in renewable power generation capacity in countries such as China. The demand for batteries in telecom industry across the region is increasing due to increasing shift toward renewable energy sources in the industry. Thus, due to aforementioned reasons, the market is likely to witness a strong growth in the region.

Figure 1. Industrial Battery Market, Revenue Share (%), By Region, 2022

North America: U.S. and Canada
Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
Middle East: GCC Countries, Israel, and Rest of Middle East
Africa: South Africa, North Africa, and Central Africa

Figure 2: Industrial Battery Market, Revenue Share (%), By Application, 2022