Deep Cycle Batteries Market Analysis 2021-2025: 53% of the Growth Rate will Develop from APAC

The deep cycle batteries market share is set to grow by USD 2.41 billion, accelerating at a CAGR of 3.43% during the forecast period. The growth of the market is attributed to the growing use of golf carts among the older population. In addition, the growing high-speed rail networks in developing nations are the major deep-cycle battery market trends that will support the market growth. However, the growth in the use of Li-ion batteries is the major challenge impeding the deep cycle batteries market growth.

Technavio's research report analyses the growth trajectory of the market with a purview of the prevalent market scenarios, trends, and drivers. It also provides competitive bench-marking of the key market players and their product portfolios.

For a glimpse into the deep cycle batteries market research analysis: View Free Sample Report

Deep Cycle Batteries Market: APAC to lead market growth during the forecast period

• The deep cycle batteries market is segmented by Type (VRLA batteries and FLA batteries), Application (Stationary, Automotive, and Motive power), and Geography (APAC, North America, Europe, South America, and MEA).
• The deep cycle batteries market share growth by the VRLA segment will be significant during the forecast period.
• The growth can be attributed to increasing smartphone penetration and rapid growth in rural subscribers, which will facilitate the deep cycle batteries market growth in APAC.
• 53% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for deep cycle batteries market in APAC.

Deep Cycle Batteries Market: Competitive Landscape

The market is fragmented due to the presence of several players. C&D Technologies Inc., Crown Battery Manufacturing Co., East Penn Manufacturing Co. Inc., EnerSys, EverExceed Industrial Co. Ltd., Exide Industries Ltd., Exide Technologies, GS Yuasa Corp., HBL Power Systems Ltd., and Johnson Controls International Plc are some of the major deep cycle batteries market vendors.

To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Download the Free PDF Sample Report

The report provides insights into the following FAQs:

1. What is the market CAGR?
   The market is accelerating at a CAGR of 3.43%.
    
2. What is the incremental growth of the market?
   The market is expected to grow by USD 2.41 billion.
    
3. What is a key factor driving this market?
   The growing use of golf carts among the older population will drive market growth over the forecast period.
    
4. What are the key regions covered in this market research report?
   APAC, North America, Europe, South America, and MEA are the key regions featured in this research report.
    
5. Which is the leading geographic region for this market?
   53% growth will originate from APAC.
    
6. Who are the leading market vendors?
   The leading vendors in this market are C&D Technologies Inc., Crown Battery Manufacturing Co., East Penn Manufacturing Co. Inc., EnerSys, EverExceed Industrial Co. Ltd., Exide Industries Ltd., Exide Technologies, GS Yuasa Corp., HBL Power Systems Ltd., and Johnson Controls International Plc
    
7. What are the market segments covered in this report?
   The market is segmented by Type (VRLA batteries and FLA batteries), Application (Stationary, Automotive, and Motive power), and Geography (APAC, North America, Europe, South America, and MEA).