Fact.MR has recently published a report, titled [Global Industrial Battery Charger Market 2020 by Key Countries, Companies, Type and Application]. The research report provides an in-depth explanation of the various factors that are likely to drive the market. It discusses the future of the market by studying the historical details. Analysts have studied the ever-changing market dynamics to evaluate their impact on the overall market. In addition, the report also discusses the segments present in the market. Primary and secondary research methodologies have been used to provide the readers with an accurate and precise understanding of the overall The Industrial Battery Charger market. Analysts have also given readers an unbiased opinion about the direction companies will take during the forecast period.
The research report also includes the global market figures that provide historical data as well as estimated figures. It gives a clear picture of the growth rate of the market during the forecast period. The report aims to give the readers quantifiable data that is collected from verified data. The report attempts to answer all the difficult questions such as market sizes and company strategies.
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Competition Landscape – Industrial Battery Charger Market
According to the latest Fact.MR study, the competition in industrial battery charger market is characterized by a large number of smaller companies, which collectively hold 60% share in the global market revenues. Leaders, such as ABB Ltd, Exide Technologies, and Enersys are emphasizing improved R&D to accelerate new launches, and eventually boost their global presence. To achieve enhanced regional and global foothold in the industrial battery charger market, companies are observed to have adopted effective product innovation strategies. With growing focus on strengthening sales via direct distribution, notable industry players continue to have a strong market footprint, regionally and globally.
New product developments (NPDs) will continue to be among the key winning imperatives, governing brand repositioning strategies of leading players in the industrial battery charger market. While a majority of NPDs are customer-centric and thus revolve around evolving end-user preferences, this has been rapidly emerging as an effective strategy for a better competitive edge. For instance, EnerSys, a leading player in the industrial battery charger industry, has recently launched a new range of forklift battery chargers, which are technically the advanced on-board chargers, allow for recharging of forklift motive power batteries anytime and anywhere. These battery chargers can turn a lift truck into a portable charging room.
In addition, strategic collaborations and M&A have been cited as the preferred competition strategies adopted by industrial battery charger market players. Several companies are entering strategic partnerships and forming joint ventures with regional players. By augmenting investments in joint ventures with regionally leading distribution partners, market participants are also likely to consider regional expansion as a preferred strategy in the near future. For instance, in March 2019, Hitachi, Ltd. announced establishment of its brand new headquarter in the Oceania region, reinforcing its business within the region.
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Key Factors Shaping the Industrial Battery Charger Market
- Increasing support from governments to the thriving trend of ‘electrification’ has been accelerating the procurement of industrial battery chargers. Governments in many regions are offering attractive subsidy schemes to encourage procurement of alternative energy systems at individual as well as organizational levels, at reduced capital cost. Moreover, their growing focus on building an electricity grid that supports evolving consumer expectations is bolstering demand for relevant charging infrastructure. The accelerating industrial shift towards adoption of smart grids continues to create and augment preference for industrial battery chargers.
- Potential use of electrification technologies to enable the delivery of less carbon-intensive electricity supply and their deployment as tools for alleviated environmental impact, are creating novel avenues for industrial battery charger manufacturers. Cost savings mark an additional benefit for investors in industrial battery chargers.
- Growing use of batteries to meet the entire electrical load of both AC and non-AC coaches has led to a surge in the adoption of energy storage solutions, translating into an increased demand for industrial battery chargers. Wide applications of flooded and sealed lead acid (SLA) batteries in railways are likely to reinforce the growth of market for industrial battery charger in the years to come.
- Increasing number of warehouses are getting electric forklifts deployed in place due to reduced fuel costs and easy chargeability during intervals for higher efficiency across shifts. Additionally, low operating costs of electric forklifts, compared to the internal combustion models, have been augmenting their traction, thereby creating demand for industrial battery chargers that are widely used for charging industrial vehicles. Industrial battery chargers are garnering an increased traction due to their ability to charge forklifts without altering the battery’s lifespan, which otherwise a typical result of overheating and overcharging.
- Sensing significant benefits of miniaturization, including efficiency, logistics and material reductions, manufacturers of industrial machines and products are making a paradigm shift to advanced manufacturing technologies, which in turn is creating opportunities in market.
- Surging focus on rechargeable batteries as an ideal solution for uninterrupted transmission and distribution of energy has been creating lucrative growth opportunities for the manufacturers operating in the industrial battery charger market.
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Industrial Battery Charger Going ‘Smart’
The digital revolution continues to thrive on the back of rapid transformations in battery technology that is used during industrial operations. Intelligent solutions continue to garner increased traction, strongly backed by the proliferation of IoT. Of late, digitalization has been transforming industries, and the IoT enabled smart charging technology is highly likely to gain considerable traction as a staple trend in the near future. As the rate of smart grid adoption continues to rise, it is highly likely that the smart battery charger sales will be on the rise over the course of forthcoming years.
Industrial Battery Charger Market – Research Methodology
An accurate methodology and holistic approach forms the base of the incisive insights presented in the industrial battery charger market. The Fact.MR study offers in-depth information related to the growth forecast of industrial battery charger industry and a systematic breakdown of the key factors that are influencing the growth of the market.
Comprehensive primary and secondary research has been performed to present actionable insights on the industrial battery charger market forecast. The report on industrial battery charger market has also gone through several authentication tunnels to ensure the uniqueness of provided insights and other information that have been included in the report.
Global Industrial Battery Charger Market: Drivers and Restraints
The report explains the drivers shaping the future of the Industrial Battery Charger market. It evaluates the various forces that are expected to create a positive influence on the overall market. Analysts have studied the investments in research and development of products and technologies that are expected to give the players a definite boost. Furthermore, researchers have also included an analysis of the changing consumer behavior that is projected to impact the supply and demand cycles present in the global The Industrial Battery Charger market. Evolving per capita earnings, improving economic statuses, and emerging trends have all been studied in this research report.
The research report also explains the potential restraints present in the global The Industrial Battery Charger market. It evaluates the aspects that are likely to hamper the market growth in the near future. In addition to this assessment, it also provides a list of opportunities that could prove lucrative to the overall market. Analysts provide solutions for turning threats and restraints into successful opportunities in the coming years.
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Global Industrial Battery Charger Market: Regional Segmentation
In the successive chapters, analysts have studied the regional segments present in the global The Industrial Battery Charger market. This gives the readers a narrowed-view of the global market enabling a closer look at the elements that could define its progress. It highlights myriad regional aspects such as the impact of culture, environment, and government policies that influence the regional markets.
Global Industrial Battery Charger Market: Competitive Landscape
The last chapter of the global The Industrial Battery Charger market research report focuses solely on the competitive landscape. It studies the key players present in the market. In addition to a brief overview of the company, analysts shed light on their valuation and evolution. It also mentions the list of important products and the ones in the pipeline. The competitive landscape is analyzed by understanding the strategies of the companies and the initiatives they have taken in recent years to overcome the intensive competition.
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