Genset Battery Market Analysis Report 2021-2026: Global Size, Growth, Share, Key Players, and Outlook

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 According to the latest report by IMARC Group, titled “Genset Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global genset battery market size is expected to exhibit moderate growth during 2021-2026. Looking forward, the global genset battery market is expected to grow at a CAGR of around 5% during 2021-2026. A genset, also known as a generator set, is equipment that comprises an electrical generator and an engine to generate electrical power. A genset battery, on the other hand, is a compact electronic device that utilizes alternating current mains supply to start the genset during a power outage. The pure lead-tin alloy technology employed in the battery enhances its efficiency in hot as well as in cold weather conditions. These batteries are extremely durable in nature as they can withstand extreme and critical operating conditions such as humidity, vibration and short circuits. As a result, they are gaining widespread preference across numerous industry verticals.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.

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Market Trends:

The market is primarily driven by an increase in he demand for electricity across the globe. Altering climatic conditions and inflating disposable income levels have increased the uptake of heating, ventilation and air conditioning (HVAC) systems. This, coupled with the increasing incidences of power outages, has created a constant requirement for uninterrupted power supply from the residential and commercial sectors, which is providing a boost to the sales of genset batteries. These batteries are also utilized in the industrial sector as a backup during electric outages to avoid loss of inventory, equipment failures and delays in scheduled deliveries. Furthermore, research and development (R&D) are also contributing significantly to the market growth. For instance, Cummins, a power generation and related products manufacturing and distributing company based in the United States, launched a genset that runs on biogas. Owing to its cost-effectiveness, coupled with an overall increased focus on sustainable development, these batteries are gaining widespread preference across the globe.

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Key Market Segmentation:

Some of these Key Players Include:

  1. Cummins Inc. (NYSE: CMI)
  2. EnerSys (NYSE: ENS)
  3. Exide Industries Ltd ( NSE: EXIDEIND)
  4. Leoch International Technology Ltd (HKG: 0842)
  5. AMARA RAJA BATTERIES LTD. (AMARAJABAT.BO)
  6. Generac Holdings Inc. (NYSE: GNRC)
  7. Kohler Co.

Market Breakup by Product Type:

  1. Lead-Acid Batteries
  2. NiCd Batteries

Market Breakup by Distribution Channel:

  1. Offline
  2. Online

Market Breakup by End-User:

  1. Industrial
  2. Commercial
  3. Residential

Market Breakup by Region:

  1. Asia Pacific
  2. North America
  3. Europe
  4. Middle East and Africa
  5. Latin America

Key Highlights of the Report:

  1. Market Performance (2015-2020)
  2. Market Outlook (2021- 2026)
  3. Porter’s Five Forces Analysis
  4. Market Drivers and Success Factors
  5. SWOT Analysis
  6. Value Chain
  7. Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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