LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global deep cycle batteries market report until 2021. This research report also lists 18 other prominent vendors that are expected to impact the market during the forecast period.
The research study by Technavio on the global deep cycle batteries market for 2017-2021 provides detailed industry analysis based on application (stationery, automotive, and motive power), battery type (VRLA and FLA), and geography (APAC, the Americas, and EMEA).
“The global deep cycle batteries market size is expected to reach USD 14.43 billion by 2021, at a CAGR of over 4% through the forecast period. The increasing use of golf carts as a regular transport vehicle is driving the growth of the market,” says Thanikachalam Chandrasekaran, one of the lead analysts at Technavio for energy storage research.
Competitive vendor landscape
The global deep cycle batteries market is characterized by intense competition, rapid advances in technology, frequent changes in government policies, and the presence of stringent environmental regulations. Deep cycle battery manufacturers such as East Penn Manufacturing, EnerSys, Exide Technologies, GS Yuasa, and Johnson Controls dominate the global market. A large number of both new and established vendors are making efforts to improve market foothold by improving their sales, distribution, and utilizing their capital effectively to sustain their operations in the volatile market landscape.
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Top five vendors in global deep cycle batteries market
East Penn Manufacturing
East Penn Manufacturing offers lead-acid batteries, wires, cable products, and battery accessories. The company operates through four subsidiaries — East Penn Canada, East Penn International, Ecoult, and MK Powered. The business segments of the company are classified into transportation, motive power, reserve power, and wire and cable.
EnerSys manufactures, markets, and distributes industrial batteries and related products such as chargers, outdoor cabinet enclosures, power equipment, and battery accessories. It offers related after-market and customer-support services for industrial batteries. EnerSys markets and sells its products to more than 10,000 customers in over 100 countries via a network of independent representatives, distributors, and its internal sales force.
Exide Technologies serves the complex stored energy needs of customers worldwide. It provides services and systems that enhance vehicle performance and fleet utilization. It aims at reducing the risk of temporary power supply interruptions. The company operates through transportation, GNB motive power, and GNB network power segments.
GS Yuasa designs, manufactures, and markets a wide range of batteries, power supply systems, lighting equipment, and other electrical equipment worldwide. The company operates through overseas operations, domestic industrial batteries and power supplies, domestic automotive batteries, and Li-ion batteries business segments.
Johnson Controls operates as a diversified technology and industrial company. Through its power solutions business segment, the company serves general vehicle battery aftermarket by providing energy storage technology coupled with systems engineering, marketing, and service expertise. The company also supplies advanced battery technologies to power start/stop vehicles, HEVs, and EVs.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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