The gel batteries market will register a CAGR of more than 3% by 2022

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Jan 09, 2019, 16:05 ET

LONDON, Jan. 9, 2019 /PRNewswire/ -- About this market
Rise in 4G subscription to drive growth in the gel batteries market. With the growing subscription of 4G users globally, the need for installation of new telecom towers will also increase. These factors will boost the demand for energy storage devices in telecommunication industry during the forecast period, thus driving growth in the gel batteries market. Technavio's analysts have predicted that the gel batteries market will register a CAGR of more than 3% by 2022.

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Market Overview
Increment in microgrids installation
As gel batteries are low maintenance batteries and provide longer quality services, they are well suited for operation in extreme temperatures. This will enhance the productivity and adoption of gel batteries. Thus, the deployment of gel batteries in microgrids act as one of the prominent factors in the growth of the global gel batteries market.
Increasing threat of substitutes
The gel batteries can be easily replaced by the AGM batteries and other flooded batteries due to the various advantages associated with these batteries such as cost effectiveness and better performance.
For the detailed list of factors that will drive and challenge the growth of the gel batteries market during the 2018-2022, view our report.

Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Narada Power and Trojan Battery the competitive environment is quite intense. Factors such as the increment in microgrids installation and the rise in 4G subscription, will provide considerable growth opportunities to gel batteries manufactures. East Penn Manufacturing, EnerSys, Exide Technologies, Leoch Battery, Narada Power, and Trojan Battery are some of the major companies covered in this report.

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