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Deep Cycle Battery: Introduction

  • Deep cycle batteries are energy storage units that provide the required amount of electricity. Electric power is generated by the chemical reaction that develops potential voltage or current. These batteries are designed to cycle in terms of charge and discharge for a number of times. Deep cycle battery is designed for regular deep discharge by using its maximum capacity.
  • Deep cycle batteries are widely employed in various applications such as electrically propelled forklifts, floor sweepers, motorized wheelchairs, golf carts, traffic signals, and electric vehicles. These batteries are highly used in off-grid energy storage systems, especially in solar power and wind power, to store a large amount of energy converted in the day time through solar systems.
  • Various types of deep cycle batteries are available in the market. These include flooded batteries, gel batteries, AGM batteries, and lithium-ion batteries. Deep cycle batteries are designed to deliver a depth of discharge (DOD) up to 80% compared to the normal batteries due to the larger and thicker plates inside.

Key Drivers and Restraints of Deep Cycle Battery Market

  • Increase in demand for off-grid energy storage devices in a various countries is likely to boost the global deep cycle battery market in the next few years. Off-grid energy storage requires efficient backup to recover demand for instant electricity. This can be provided by deep cycle batteries.
  • Rise in disposable income of consumers owing to the improvement in economic conditions in various countries has boosted travel and tourism activities. This, in turn, has propelled the demand for recreational boating and motorized water sports activities across the globe. Deep cycle batteries are widely employed in recreational boats, fishing boats, and sailing boats due to high requirement of electric power for a long duration. Rise in demand for effective energy cycle batteries in the recreational vehicle industry is projected to augment the deep cycle battery market in the near future.
  • Implementation of stringent government regulations for lead production due to high risk of environmental hazards is key factor likely to hamper the deep cycle battery market during the forecast period

COVID-19 Impact Analysis

Governments of various countries have imposed restrictions on the movement of individuals and economic activities to limit the spread of the COVID-19 pandemic. As a result, production facilities of automobile and other industries have come to a temporary halt. Disruption in operation of production facilities is adversely affecting the demand for deep cycle batteries, as these batteries are used in electrical vehicle and electronics goods to provide continuous power supply for their proper functioning.

Valve Regulated Lead-acid Batteries Type Segment Expected to Hold Prominent Share of Global Market

  • The global deep cycle battery market can be segmented based on type, application, and region
  • Based on type, the global deep cycle battery market can be segregated into valve regulated lead-acid batteries (VRLA) and flooded lead-acid batteries (FLA). The valve regulated lead-acid batteries (VRLA) segment is anticipated to expand significantly during the forecast period due to the benefits associated with VRLA batteries. VRLA batteries are maintenance free and require no addition of electrolyte or water.
  • Based on application, the global deep cycle battery market can be divided into motive platform, stationary, and automotive. The stationary segment is anticipated to expand significantly during the forecast period due to the widespread network of telecommunication towers across the globe.

Asia Pacific Expected to Constitute Major Share of Global Deep Cycle Battery Market

  • In terms of region, the global deep cycle battery market can be divided into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
  • Asia Pacific is expected to account for dominant share of the global deep cycle battery market during the forecast period. Rise in demand for automotive, especially electric vehicles, and growth of telecommunication networks in China, India, and South Korea are expected to fuel the demand for deep cycle batteries in Asia Pacific.
  • Increase in demand for off-grid energy storage devices in developing economies of Asia Pacific such as Malaysia, Indonesia, and Vietnam is estimated to offer lucrative opportunities for manufacturing companies of deep cycle batteries in Asia Pacific
  •  The deep cycle battery market in North America and Europe is likely to expand during the forecast period due to rise in demand for recreational boating, golf carts, and forklifts across the manufacturing industry. The U.S. consumers are the prominent owners of recreational boats and fishing boats. Increase in sales of recreational boats is estimated to fuel the deep cycle battery market in the country during the forecast period.
  • Rise in import of deep cycle batteries in Latin America and Middle East & Africa due to the attractive travel & tourism industry is projected to boost the demand for these batteries in these regions

Key Players Operating in Global Market

Leading companies operating in the global deep cycle battery market include:

  • Trojan Battery
  • Exide Technologies
  • Johnson Controls
  • C&D Technologies
  • U.S. Battery Manufacturing Company
  • Rolls Battery

Global Deep Cycle Battery Market: Research Scope

Global Deep Cycle Battery Market, by Type

  • Valve Regulated Lead-acid Batteries (VRLA)
  • Flooded Lead-acid Batteries (FLA)

Global Deep Cycle Battery Market, by Application

  • Motive Platform
  • Stationary
  • Automotive

Global Deep Cycle Battery Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

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Deep Cycle Batteries Market