Global Deep Cycle Batteries Market Analysis - Global Industry Size, Share, Trends and Forecast, 2018 - 2025

Published - Aug 2018 | Category - Energy and Power | No. of Pages - 121 | Published By - ARC

Introduction

Deep cycle batteries are renewable energy-based batteries designed to use majority of its capacity to discharge deeply. Chemical reaction results into development of voltage and thereby generates electricity. In deep batteries, power is provided for a longer period of time at a steady rate, unlike car batteries where the batteries provide an energy burst for a shorter time. Based on the construction design and manufacturer, these batteries discharge between 45% to 75%. These batteries can be used as starting batteries with lower cranking current. Number of charge and discharge cycles is inversely related to the depth of discharge (DOD). Thus, to maintain the cost vs maximum lifespan of the battery, deep-cycle batteries are set to 20% charge cycles.
A variety of deep cycle batteries such as Absorbed Glass Mat (AGM) batteries, gel Batteries, flooded batteries and lithium-ion batteries is available commercially. Flooded batteries are most commonly used conventional batteries with similar structure as that of lead acid batteries used in cars. Conventional batteries are widely used owing to higher awareness. On the other hand, adoption of lithium-ion, a next generation battery is significantly increasing.

Market Dynamics

Increasing demand for renewable energy sources is primarily boosting the market growth. In addition, rising research and development in product designing is resulting in introduction of technically advanced products in the marketplace. Lithium-ion batteries is one such example of advanced product recently introduced in the market. Moreover, advanced products are expanding the application area of deep-cycle batteries. Considering all the above mentioned factors together, the market is anticipated to grow at the fastest growth rate during the forecast period. On the other hand, relatively higher and requirement of slow charging rate is hindering the market growth.


 

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