The global tubular GEL battery market is expected to display higher growth rate over the next seven years. Rapid surge in tubular GEL battery industry is credited to the rising number of application in grid/standalone power systems. Additionally, rising use of tubular GEL battery in hybrid solar battery systems is expected to drive the market growth of tubular GEL battery over the forecast period. Globally, tubular GEL battery market is predicted to generate massive revenue over the next seven years, providing numerous opportunities for industry participants to invest in research and development of tubular GEL batteries.
Tubular GEL batteries are highly suitable for deep cycle application, thus offer more than five thousand life cycles. Additionally, tubular GEL battery is considered as maintenance free due to unique structure. These factors are anticipated to fuel market demand for tubular GEL batteries over the forecast period. Additional advantages offered by tubular GEL batteries include spill proof, minimal corrosion, higher compatibility and rugged and vibration-resistant. Tubular GEL batteries are also highly compatible with sensitive electronic equipment, thus providing safe and risk-free operations.
Development of low cost-per-month features coupled with longer life spans are the major driving factors for tubular GEL battery industry in the past few years. Tubular GEL battery is highly versatile and considered suitable for off-grid solar and wind power generation systems. Tubular GEL battery can be installed in location with limited air-supply, as these batteries produce minimum gas or fumes. However, higher initial cost and increasing need for specialized chargers and regulators is expected to restrain market growth to a certain extent.
The tubular GEL battery market is broadly categorized into major segments based on the application type such as communication system, power plants and transmission and distribution systems, solar and wind power generation systems, signal systems and emergency lighting systems, and EPS and UPS. Communication system segment is growing rapidly in the tubular GEL battery industry with substantial revenue generation in the last few years.
The tubular GEL battery market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in manufacturing sector, surge in number of research & development activities and existence of well-established industrial infrastructure in the region. In European region, Germany, France, and United Kingdom are projected to witness steady growth.
Asia-Pacific region is estimated to hold a major market share in the tubular GEL battery with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth, rising demand from end-use applications, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the tubular GEL battery industry are Exide Technologies AB, EnerSys Corp., VISION SLA, Shoto Batteries Co., Shandong Sacred Sun Power Sources Co., Ltd., FIAMM Energy Technology S.p.A., Huafu Top Dyed Melange Yarn Co., Ltd., HOPPECKE Batterien GmbH & Co., KG, Guangdong Dynavolt Power Technology Co., Ltd., Leoch International Technology Ltd., Coslight India Technology Private Ltd., BSB Power Company Ltd., and Wolong Holding Group Co., Ltd.