The latest report by IMARC Group, titled “Gel Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global gel battery market size reached US$ 2.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.7 Billion by 2028, exhibiting a growth rate (CAGR) of 4% during 2023-2028.
A gel battery is a type of valve-regulated lead-acid battery that employs a jellied electrolyte containing silica to stiffen the battery. It is suitable for deep-cycle applications and can be used in areas without ventilation. It is maintenance-free and has excellent vibration resistance. In addition, it requires a lower recharge voltage and is sensitive to over-charging. Moreover, it provides improved safety due to a lower risk of sulphuric acid burns, greater shock resistance, and a low rate of evaporation. As a result, gel batteries are employed in motorcycles, high-end cars, cell phones, marine equipment, camcorders, solar systems, sailboats, marine trolling, uninterruptible power systems (UPS), and emergency lighting across the globe.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/gel-battery-market/requestsample
Gel Battery Market Trends and Drivers:
The market is primarily driven by the expanding energy storage and distribution sector. In addition, the increasing product use in energy storage devices in off-grid solar photovoltaic (PV) systems and the escalating demand for solar power devices to offer backup during power outages in remote areas are contributing to the market growth. Moreover, the growing environmental awareness and rising pollution levels due to fuel-based vehicles are accelerating the use of gel batteries in electric vehicles (EVs), aircraft, and public transportation, representing another major growth-inducing factor. Besides this, several governments are taking initiatives to promote the use of renewable energy sources through incentives, tax credits, and price concessions on solar panel components propelling the market growth. Furthermore, the extensive product demand in the healthcare sector for producing electric wheelchairs and ventilators and the surging demand for electric wheelchairs due to the growing geriatric population prone to orthopedic conditions and neurological disorders are creating a positive market outlook.
Report Segmentation:
The report has segmented the market into the following categories:
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