Gel Battery Market Outlook - 2027
The global gel battery market was valued at $1.8 billion in 2019, and is projected to reach $2.6 billion by 2027, growing at a CAGR of 4.2% from 2020 to 2027. The increasing demand for renewable energy storage solutions and the growth in electric vehicle (EV) adoption are driving the demand for gel batteries, as they offer a reliable and cost-effective energy storage option. Gel batteries, known for their safety, maintenance-free operation, and deep discharge capabilities, are well-suited for storing energy generated from renewable sources such as solar and wind.
The term gel in the gel battery refers to the presence of electrolyte in the suspended form. The presence of silica in the electrolyte makes the electrolyte in the gel form or makes the electrolyte to set up or stiffen in the battery. As compared to other types of lead acid batteries it has low recharge voltages. Gel battery is probably the most sensitive battery in terms of over-charging.
Market Dynamics
As the world shifts towards sustainable energy sources such as solar and wind power, efficient and reliable energy storage systems have become critical. Renewable energy generation is inherently intermittent, meaning that storage solutions are required to balance supply and demand when renewable sources are actively generating electricity. Gel batteries, with their deep-cycle capabilities, are well-suited for storing energy from renewable sources, providing a stable power supply even when generation fluctuates. All these factors are expected to drive the demand for the gel battery market during the forecast period.
However, the gel battery market is facing significant challenges due to the increasing competition from lithium-ion batteries, which have become the dominant technology in various applications. Lithium-ion batteries offer several advantages over gel batteries, including higher energy density, lighter weight, and better efficiency. This has made them the preferred choice for a wide range of applications, particularly in the electric vehicle (EV) sector, consumer electronics, and renewable energy storage systems. As industries prioritize performance and efficiency, the preference for lithium-ion batteries has intensified, resulting in a slowdown in the growth of gel battery demand. All these factors are expected to hamper the growth of the gel battery market during the forecast period.
Innovations in production processes, materials, and design can enhance the performance, efficiency, and cost-effectiveness of gel batteries, making them more competitive against other battery technologies. For instance, advancements in the formulation of gel electrolytes can lead to improved energy density and cycle life, allowing gel batteries to store more energy and endure more charge-discharge cycles. These enhancements can address one of the primary limitations of traditional gel batteries, positioning them as a more attractive option for various applications. All these factors are anticipated to offer new growth opportunities for the global gel battery market throughout the forecast period.
Market Segmentation
The gel battery market is segmented on the basis of type, application, and region. By type, the market is fragmentedinto2V, 6V, and 12V. On the basis of application, it is divided into electric mobility, energy storage & distribution, telecommunication, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The gel battery market share is analyzed across all regions.
By type, 12V gel battery has not only garnered highest share in the gel battery market in 2019 but also is expected to grow at a fastest growth rate. It has garnered a share of 43.8% in 2019, and is expected to grow at a CAGR of 4.4. This is attributed to its high adoption innumerous applications such as energy storage & distribution, telecommunication, and others.
By Type
12V is projected as the most lucrative segment.
By application, the energy storage & distribution segment is anticipated to grow at a highest growth rate. This is attributed to rise in demand for gel batteries for renewable energy application from emerging economies such as China, India, and others. As the gel batteries are used in solar and wind power plants.
By Application
Energy Storage & Distribution is projected as the most lucrative segment.
Region wise, LAMEA is the fastest growing region, and Asia-Pacific garnered highest share in the market in 2019. LAMEA is expected to grow at 5.7%. It is one the price sensitive market, owing to which it is expected that gel battery market may grow considerably. As available options such as lithium-ion battery is costly as compared to gel battery. Asia-Pacific has garnered 39.9% share in 2019, owing to numerous factors such as vast consumer base and presence of key players in countries such as China, India, and others.
By Region
Asia-Pacific holds a dominant position in 2019 and would continue to maintain the lead over the forecast period.
Competitive Landscape
The gel battery market analysis covers in-depth information of the major industry participants. Some of the major players in the market include Exide Technologies (Exide), BSB Power Company Limited., Leoch International Technology Limited Inc., Power Sonic Corporation (PS Corporation), Storage Battery Systems, LLC (SBS LLC), Canbat Technologies Inc. (Canbat), C&D Technologies, Inc., (C&D), JYC Battery Manufacturing Co., Ltd., B.B. TECH (Changsha) Co., Ltd. (B.B. TECH), and Vision Group (Vision).
Other players in the value chain of the gel battery market include Coslight India Telecom Pvt. Ltd., Dynavolt Renewable Energy Technology Co., Ltd., Exide Industries Limited, Microtex Energy Private Limited, The Furukawa Battery CO., LTD., KAYO Battery (Shenzhen) Company Limited, Jayachandran Industries (P) Ltd, AGM Technology, Suntech Batteries, Chilwee Group CO.,LTD, and others. The key players are adopting numerous strategies such as product launch, business expansion, acquisition, partnership, collaboration, and agreement to stay competitive in the gel battery market.
For instance, Exide launched innovative valve regulated lead acid (VRLA) gel battery for power-hungry trucks. The new product launched has less maintenance and it delivers more cycling endurance than flooded battery and AGM (absorbent glass mat) batteries. This makes it a better option for high energy applications, such as long-haul trucks with “life on board” equipment and commercial vehicles. This product launch has reinforced company’s product portfolio.
Key Benefits for Stakeholders:
- The gel battery market forecast is studied from 2020 to 2027
- The report provides an in-depth analysis of the market along with the current and future market trends
- This report highlights the key drivers, opportunities, and restraints of the market along with the impact analysis during the forecast period
- Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the gel battery industry for strategy building
- The qualitative data in this report aims on market dynamics, market trends, and developments
- A comprehensive analysis of the factors that drive and restrain the gel battery market growth is provided
- The gel battery market size is provided in terms of revenue
Gel Battery Market Report Highlights
| Aspects | Details |
 By Type |
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 By Application |
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 By Region |
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 Key Market Players | JYC Battery Manufacturing Co., Ltd., BSB Power Company Limited., Leoch International Technology Limited Inc., Canbat Technologies Inc., Power Sonic Corporation, B.B. TECH (Changsha) Co., Ltd., Storage Battery Systems, LLC, Exide Technologies, C&D Technologies, Inc., Vision Group |
Analyst Review
The demand for gel batteries is increasing in the regions such as Asia-Pacific and LAMEA. As consumers in these regions prefer low cost products. The initial cost of gel batteries is high although as compared to lithium ion battery it is less costly. The growth of lithium-ion battery in developed region is anticipated to slowdown, owing to increase in adoption of gel batteries. In addition, Brazil and India are some of the countries expected to offer lucrative opportunities for the market expansion. This is attributed to several factors such as rise in adoption of gel battery in numerous applications such as electric mobility application, telecommunication, and energy storage & distribution. In addition, ease of recyclability associated with gel batteries over other batteries is also propelling the market growth.
The CAGR of gel battery market is 4.2%.
The key trends in the gel battery market are rising competition from alternatives such as lithium ion batteries, absorbent glass mat (AGM) batteries, and others, rising using of broadband boosting adoption of gel battery, and others.
To get latest version of gel battery market report can be obtained on demand from the website.
Electric scooters manufacturers, marine equipment manufacturers, solar and wind power generation systems manufacturers are some of the potential customers of gel batteries.
On the basis of region, Asia-Pacific has garnered highest market share in 2019 in the gel battery market.
The top ten market players are selected based on two key attributes - competitive strength and market positioning
Telecommunications, hybrid power systems, rural electrification, marine equipments, and others are some of the applications of gel battery.
Exide Technologies, Vision Group (Vision), Leoch International Technology Limited Inc. is some of the leading players in the gel battery market.
LAMEA and Asia-Pacific is expected to offer lucrative business opportunities for gel battery market in coming years.
Product Launch and Acquisition are some of the key growth strategies of gel battery market players.
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