Global Battery Racks Market to Reach USD 4,931.24 Million by 2030 | CAGR of 4.0%
Category : Semiconductor And Electronics | Published Date : Oct 2024 | Type : Press Release
Battery Racks Market Scope & Overview:
In the newly published report, Consegic Business Intelligence analyzes that Battery Racks Market size was valued at USD 3,675.11 Million in 2022 and is projected to reach USD 4,931.24 Million by 2030, growing at a CAGR of 4.0% from 2023 to 2030. Battery racks are structures used to store batteries, providing essential protection, switching capabilities, and overcurrent protection. These racks are widely used in data centers, power storage, and telecommunication sectors.
The report comprises the Battery Racks Market Share, Size & Industry Analysis, By Rack Type (Standard, Seismic, Relay, and VRLA), By Material (Steel, Plastic, Plastic Coated, and Others), By Application (Power Storage, Power Generation, Telecommunication, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa), and Forecast, 2023-2030.
The report contains detailed information on Battery Racks Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
The growing demand for energy storage systems in data centers and the increasing focus on safety in telecommunication infrastructure are major drivers for the battery racks market growth. Additionally, the rising adoption of electric vehicles (EVs) and the integration of renewable energy storage solutions present significant opportunities for market growth.
Segmental Analysis :
Based on rack type, the market is segmented into standard, seismic, relay, and VRLA.
- Standard racks held the largest market share in 2022 due to their high durability, flexibility, and acid-proof nature. These racks are widely used in data centers and power storage applications.
- The VRLA segment is expected to register the fastest growth during the forecast period, driven by its efficient operation in UPS systems and its application in households for powering mobility scooters and other devices.
Based on material, the market is segmented into steel, plastic, plastic coated, and others.
- Steel racks accounted for the largest market share in 2022, benefiting from their robustness and high strength, which makes them ideal for heavy-duty applications.
- Steel racks are also projected to grow at the fastest rate, supported by their ability to provide long-term stability and protection in power storage systems.
Based on application, the market is divided into power storage, power generation, telecommunication, and others.
- Power storage accounted for the largest market share of 35.27% in 2022, driven by the need for reliable battery storage solutions in renewable energy systems such as solar and wind power.
- The telecommunication segment is expected to grow at the fastest rate, benefiting from the increasing demand for uninterrupted power supply and safety in critical infrastructure.
Based on regions, the global market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
- North America held the largest market share in 2022 due to the rising adoption of renewable energy and the need for efficient energy storage systems in data centers and telecommunications.
- Asia-Pacific is expected to register the fastest growth, driven by government initiatives promoting energy storage and the growing adoption of electric vehicles.
| Report Attributes | Report Details |
| Study Timeline | 2017-2031 |
| Market Size in 2031 | USD 4,931.24 Million |
| CAGR (2024-2031) | 4.0% |
| By Rack Type | Standard, Seismic, Relay, VRLA |
| By Material | Steel, Plastic, Plastic Coated, Others |
| By Application | Power Storage, Power Generation, Telecommunication, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Battery Racks Industry:
- Emerson Electric Co.
- EnviroGuard
- Huawei Technologies Co., Ltd.
- Luminous Power Technologies
- Newton Instrument Co.
- Sakcett Systems, Inc.
- Specialized Storage Solutions
- Storage Battery Systems, LLC
- Su-Kam Power Systems
- Tripp Lite
Recent Industry Developments :
- In December 2021, TotalEnergies introduced the largest battery-based energy storage facility in France to ensure sufficient electricity supply in the grid.
- In November 2021, Panasonic launched a next-generation solar energy battery storage system for energy-conscious consumers.
