With Market Size Valued at $16.2 Billion by 2026, it`s a Healthy Outlook for the Global Deep Cycle Batteries Market
SAN FRANCISCO, June 23, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Deep Cycle Batteries - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Edition: 8; Released: January 2022
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Global Deep Cycle Batteries Market to Reach $16.2 Billion by 2026
Amid the COVID-19 crisis, the global market for Deep Cycle Batteries estimated at US$12.9 Billion, is projected to reach a revised size of US$16.2 Billion by 2026, growing at a CAGR of 3.8% over the analysis period. VRLA Batteries, one of the segments analyzed in the report, is projected to record a 3.7% CAGR and reach US$14.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the FLA Batteries segment is readjusted to a revised 4.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $4 Billion in 2021, While China is Forecast to Reach $2.9 Billion by 2026
The Deep Cycle Batteries market in the U.S. is estimated at US$4 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.9 Billion by the year 2026 trailing a CAGR of 3.6% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.5% and 3.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR. More
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SOURCE Global Industry Analysts, Inc.