Deep Cycle Battery Market Size, Trends and Insights By Type (Flooded Lead-acid Batteries (FLA), Valve Regulated Lead-acid Batteries (VRLA)), By Application (Stationary, Automotive, Motive Platform), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- C&D Technologies Inc.
- Trojan Battery
- Crown Battery Manufacturing Co.
- East Penn Manufacturing Co. Inc.
- Others
Reports Description
The Global Deep Cycle Battery Market was estimated at USD 2.5 billion in 2021 and is anticipated to reach around USD 5.2 billion by 2030, growing at a CAGR of roughly 8% between 2022 and 2030.
CMI research report offers a 360-degree view of the Deep Cycle Battery market’s drivers and restraints, coupled with the impact they have on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Deep Cycle Battery market.
- Deep cycle batteries serve as the electrical energy storage system. The chemical reaction that creates potential voltage or current generates electric power. These batteries are made to cycle repeatedly between charging and discharging. Deep cycle batteries are made to undergo frequent deep discharges at their maximum capacity.
- Many different applications, including electrically propelled forklifts, floor sweepers, motorized wheelchairs, golf carts, traffic signals, and electric cars, use deep cycle batteries. These batteries are widely employed in off-grid energy storage systems, particularly for solar and wind power, to store a significant quantity of energy generated throughout the day by solar systems.
- There are numerous varieties of deep cycle batteries on the market. These consist of lithium-ion, flooded, gel, and AGM batteries. Due to the larger and thicker internal plates, deep cycle batteries are intended to give a depth of discharge (DOD) up to 80% higher than standard batteries.
- Our analysis indicates that the global deep cycle battery market growth during and after the COVID-19 timeframe has been negatively impacted. The market for deep cycle batteries is expanding mostly due to older people’s rising use of golf carts. In contrast, other factors, such as the rising popularity of Li-ion batteries, could restrain this expansion. Our research researchers have analyzed historical data to determine the COVID-19 pandemic’s effect on the deep cycle battery market as well as its main market drivers. To achieve a competitive edge, end goals can be determined, and marketing strategies can be improved with a comprehensive analysis of the drivers.
Report Scope
The global Deep Cycle Battery market research report offers an in-depth analysis of the global market size, which is further segmented into the regional country-level market size, and segmentation market growth. Also, it provides the market share, sales analysis, competitive landscape, the impact of domestic and global market participants, trade regulations, value chain optimization, recent key developments, strategic market growth analysis, opportunities analysis, product launches, and technological innovations. The scope of the study includes market sizing and forecast for segmentation by type, application, and geography.
| Feature of the Report | Details |
| Market Size in 2023 | USD 2.7 Billion |
| Projected Market Size in 2032 | USD 5.2 Billion |
| Market Size in 2022 | USD 2.5 Billion |
| CAGR Growth Rate | 8% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Type, Application, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Key Market Dynamics
- In the upcoming years, the global deep cycle battery market is anticipated to grow as demand for off-grid energy storage devices rises in a number of nations. An effective backup is necessary for off-grid energy storage to meet the demand for instantaneous electricity. Deep cycle batteries can supply this.
- Travel and tourism have increased due to consumers’ increased disposable income and improved global economic conditions. The demand for motorized water sports and leisure boating has increased as a result all across the world.
- Due to the high need for electric power over an extended period of time, deep cycle batteries are frequently used in sailing boats, fishing boats, and leisure boats. The deep cycle battery industry is expected to grow in the near future as demand for efficient energy cycle batteries in the recreational vehicle industry increases.
- A significant factor that is predicted to restrain the market for deep cycle batteries over the forecast period is the implementation of strict government restrictions for lead production due to the high risk of environmental dangers.
Asia Pacific to Hold the Largest Share in the Deep Cycle Battery Market in 2021
- During the projected period, Asia Pacific is anticipated to dominate the worldwide deep cycle battery market. The need for deep cycle batteries in Asia Pacific is anticipated to increase due to the rising popularity of automobiles, particularly electric cars, and the expansion of telecommunications networks in China, India, and South Korea.
- According to estimates, deep cycle battery manufacturers in the Asia Pacific would benefit from rising demand for off-grid energy storage devices in developing nations like Malaysia, Indonesia, and Vietnam.
- Due to an increase in demand for recreational boats, golf carts, and forklifts throughout the manufacturing sector, the deep cycle battery market in North America and Europe is anticipated to grow during the forecast period.
- Americans own the majority of leisure and fishing boats. During the forecast period, an increase in recreational boat sales is anticipated to drive the deep cycle battery market in the nation.
- The appealing travel and tourism industries in Latin America and the Middle East & Africa are anticipated to increase deep cycle battery imports, which will increase demand for these batteries in those countries.
- The growth in the use of Li-ion batteries is challenging the growth of the market. Advances in technology in the telecom sector, such as 4G/LTE, require a continuous and efficient power supply. Li-ion batteries have a prolonged lifespan and larger replacement time, which makes them ideal for energy storage in the telecom sector. However, this growth is resulting in a decline in the use of lead-acid batteries, which is hindering the growth of the market.
Competitive Landscape
Due to the market’s fragmentation, players use organic and inorganic expansion tactics to stay competitive. Numerous local, regional, and international vendors are in the global deep cycle batteries market. In order to maintain their operations, new and established vendors seek to increase their sales, distribution, and working capital.
The competitive landscape of the Deep Cycle Battery industry gives information about the competitors. The company’s financials, revenue generated, market potential, investment in R&D, global presence, new market initiatives, production capacities, production sites and facilities, company strengths and weaknesses, product release, product width and breadth, and application dominance are among the details that are included. The data points mentioned above only pertain to the companies’ market focus on Deep Cycle Battery.
- 2022: U.S. Battery Mfg introduces the all-new ESSENTIAL LiTM brand of Lithium-ion deep-cycle batteries. Co., which has nearly 100 years of experience in designing, developing, and creating batteries.
- 2022: Several significant improvements to the line of HLX+ lithium batteries are being made by KiloVault, a provider of creative and reasonably priced home and business renewable energy solutions.
List of the prominent players in the global Deep Cycle Battery market:
- C&D Technologies Inc.
- Trojan Battery
- Crown Battery Manufacturing Co.
- East Penn Manufacturing Co. Inc.
- S. Battery Manufacturing Company
- Johnson Controls International Plc
- EnerSys
- EverExceed Industrial Co. Ltd.
- Exide Technologies
- Rolls Battery
- GS Yuasa Corp.
- HBL Power Systems Ltd.
- Others
The global Deep Cycle Battery market is segmented as follows:
By Type
- Flooded Lead-acid Batteries (FLA)
- Valve Regulated Lead-acid Batteries (VRLA)
By Application
- Stationary
- Automotive
- Motive Platform
By Region
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market research methodology
- Chapter 2. Executive Summary
- 2.1 Global Deep Cycle Battery Market, (2024 – 2033) (USD Billion)
- 2.2 Global Deep Cycle Battery Market : snapshot
- Chapter 3. Global Deep Cycle Battery Market – Industry Analysis
- 3.1 Deep Cycle Battery Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Aging population’s increasing use of golf carts
- 3.2.2 Increase in the number of high-speed trains.
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market attractiveness analysis By Type
- 3.7.2 Market attractiveness analysis By Application
- Chapter 4. Global Deep Cycle Battery Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Deep Cycle Battery Market: company market share, 2022
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Deep Cycle Battery Market – Type Analysis
- 5.1 Global Deep Cycle Battery Market overview: By Type
- 5.1.1 Global Deep Cycle Battery Market share, By Type, 2022 and – 2033
- 5.2 Flooded Lead-acid Batteries (FLA)
- 5.2.1 Global Deep Cycle Battery Market by Flooded Lead-acid Batteries (FLA), 2024 – 2033 (USD Billion)
- 5.3 Valve Regulated Lead-acid Batteries (VRLA)
- 5.3.1 Global Deep Cycle Battery Market by Valve Regulated Lead-acid Batteries (VRLA), 2024 – 2033 (USD Billion)
- 5.1 Global Deep Cycle Battery Market overview: By Type
- Chapter 6. Global Deep Cycle Battery Market – Application Analysis
- 6.1 Global Deep Cycle Battery Market overview: By Application
- 6.1.1 Global Deep Cycle Battery Market share, By Application, 2022 and – 2033
- 6.2 Stationary
- 6.2.1 Global Deep Cycle Battery Market by Stationary, 2024 – 2033 (USD Billion)
- 6.3 Automotive
- 6.3.1 Global Deep Cycle Battery Market by Automotive, 2024 – 2033 (USD Billion)
- 6.4 Motive Platform
- 6.4.1 Global Deep Cycle Battery Market by Motive Platform, 2024 – 2033 (USD Billion)
- 6.1 Global Deep Cycle Battery Market overview: By Application
- Chapter 7. Deep Cycle Battery Market – Regional Analysis
- 7.1 Global Deep Cycle Battery Market Regional Overview
- 7.2 Global Deep Cycle Battery Market Share, by Region, 2022 & – 2033 (USD Billion)
- 7.3. North America
- 7.3.1 North America Deep Cycle Battery Market, 2024 – 2033 (USD Billion)
- 7.3.1.1 North America Deep Cycle Battery Market, by Country, 2024 – 2033 (USD Billion)
- 7.3.1 North America Deep Cycle Battery Market, 2024 – 2033 (USD Billion)
- 7.4 North America Deep Cycle Battery Market, by Type, 2024 – 2033
- 7.4.1 North America Deep Cycle Battery Market, by Type, 2024 – 2033 (USD Billion)
- 7.5 North America Deep Cycle Battery Market, by Application, 2024 – 2033
- 7.5.1 North America Deep Cycle Battery Market, by Application, 2024 – 2033 (USD Billion)
- 7.6. Europe
- 7.6.1 Europe Deep Cycle Battery Market, 2024 – 2033 (USD Billion)
- 7.6.1.1 Europe Deep Cycle Battery Market, by Country, 2024 – 2033 (USD Billion)
- 7.6.1 Europe Deep Cycle Battery Market, 2024 – 2033 (USD Billion)
- 7.7 Europe Deep Cycle Battery Market, by Type, 2024 – 2033
- 7.7.1 Europe Deep Cycle Battery Market, by Type, 2024 – 2033 (USD Billion)
- 7.8 Europe Deep Cycle Battery Market, by Application, 2024 – 2033
- 7.8.1 Europe Deep Cycle Battery Market, by Application, 2024 – 2033 (USD Billion)
- 7.9. Asia Pacific
- 7.9.1 Asia Pacific Deep Cycle Battery Market, 2024 – 2033 (USD Billion)
- 7.9.1.1 Asia Pacific Deep Cycle Battery Market, by Country, 2024 – 2033 (USD Billion)
- 7.9.1 Asia Pacific Deep Cycle Battery Market, 2024 – 2033 (USD Billion)
- 7.10 Asia Pacific Deep Cycle Battery Market, by Type, 2024 – 2033
- 7.10.1 Asia Pacific Deep Cycle Battery Market, by Type, 2024 – 2033 (USD Billion)
- 7.11 Asia Pacific Deep Cycle Battery Market, by Application, 2024 – 2033
- 7.11.1 Asia Pacific Deep Cycle Battery Market, by Application, 2024 – 2033 (USD Billion)
- 7.12. Latin America
- 7.12.1 Latin America Deep Cycle Battery Market, 2024 – 2033 (USD Billion)
- 7.12.1.1 Latin America Deep Cycle Battery Market, by Country, 2024 – 2033 (USD Billion)
- 7.12.1 Latin America Deep Cycle Battery Market, 2024 – 2033 (USD Billion)
- 7.13 Latin America Deep Cycle Battery Market, by Type, 2024 – 2033
- 7.13.1 Latin America Deep Cycle Battery Market, by Type, 2024 – 2033 (USD Billion)
- 7.14 Latin America Deep Cycle Battery Market, by Application, 2024 – 2033
- 7.14.1 Latin America Deep Cycle Battery Market, by Application, 2024 – 2033 (USD Billion)
- 7.15. The Middle-East and Africa
- 7.15.1 The Middle-East and Africa Deep Cycle Battery Market, 2024 – 2033 (USD Billion)
- 7.15.1.1 The Middle-East and Africa Deep Cycle Battery Market, by Country, 2024 – 2033 (USD Billion)
- 7.15.1 The Middle-East and Africa Deep Cycle Battery Market, 2024 – 2033 (USD Billion)
- 7.16 The Middle-East and Africa Deep Cycle Battery Market, by Type, 2024 – 2033
- 7.16.1 The Middle-East and Africa Deep Cycle Battery Market, by Type, 2024 – 2033 (USD Billion)
- 7.17 The Middle-East and Africa Deep Cycle Battery Market, by Application, 2024 – 2033
- 7.17.1 The Middle-East and Africa Deep Cycle Battery Market, by Application, 2024 – 2033 (USD Billion)
- Chapter 8. Company Profiles
- 8.1 C&D Technologies Inc.
- 8.1.1 Overview
- 8.1.2 Financials
- 8.1.3 Product Portfolio
- 8.1.4 Business Strategy
- 8.1.5 Recent Developments
- 8.2 Trojan Battery
- 8.2.1 Overview
- 8.2.2 Financials
- 8.2.3 Product Portfolio
- 8.2.4 Business Strategy
- 8.2.5 Recent Developments
- 8.3 Crown Battery Manufacturing Co.
- 8.3.1 Overview
- 8.3.2 Financials
- 8.3.3 Product Portfolio
- 8.3.4 Business Strategy
- 8.3.5 Recent Developments
- 8.4 East Penn Manufacturing Co. Inc.
- 8.4.1 Overview
- 8.4.2 Financials
- 8.4.3 Product Portfolio
- 8.4.4 Business Strategy
- 8.4.5 Recent Developments
- 8.5 U.S. Battery Manufacturing Company
- 8.5.1 Overview
- 8.5.2 Financials
- 8.5.3 Product Portfolio
- 8.5.4 Business Strategy
- 8.5.5 Recent Developments
- 8.6 Johnson Controls International Plc
- 8.6.1 Overview
- 8.6.2 Financials
- 8.6.3 Product Portfolio
- 8.6.4 Business Strategy
- 8.6.5 Recent Developments
- 8.7 EnerSys
- 8.7.1 Overview
- 8.7.2 Financials
- 8.7.3 Product Portfolio
- 8.7.4 Business Strategy
- 8.7.5 Recent Developments
- 8.8 EverExceed Industrial Co. Ltd.
- 8.8.1 Overview
- 8.8.2 Financials
- 8.8.3 Product Portfolio
- 8.8.4 Business Strategy
- 8.8.5 Recent Developments
- 8.9 Exide Technologies
- 8.9.1 Overview
- 8.9.2 Financials
- 8.9.3 Product Portfolio
- 8.9.4 Business Strategy
- 8.9.5 Recent Developments
- 8.10 Rolls Battery
- 8.10.1 Overview
- 8.10.2 Financials
- 8.10.3 Product Portfolio
- 8.10.4 Business Strategy
- 8.10.5 Recent Developments
- 8.11 GS Yuasa Corp.
- 8.11.1 Overview
- 8.11.2 Financials
- 8.11.3 Product Portfolio
- 8.11.4 Business Strategy
- 8.11.5 Recent Developments
- 8.12 HBL Power Systems Ltd.
- 8.12.1 Overview
- 8.12.2 Financials
- 8.12.3 Product Portfolio
- 8.12.4 Business Strategy
- 8.12.5 Recent Developments
- 8.13 Others
- 8.13.1 Overview
- 8.13.2 Financials
- 8.13.3 Product Portfolio
- 8.13.4 Business Strategy
- 8.13.5 Recent Developments
- 8.1 C&D Technologies Inc.
List Of Figures
Figures No 1 to 19
List Of Tables
Tables No 1 to 52
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Prominent Players
- C&D Technologies Inc.
- Trojan Battery
- Crown Battery Manufacturing Co.
- East Penn Manufacturing Co. Inc.
- S. Battery Manufacturing Company
- Johnson Controls International Plc
- EnerSys
- EverExceed Industrial Co. Ltd.
- Exide Technologies
- Rolls Battery
- GS Yuasa Corp.
- HBL Power Systems Ltd.
- Others
FAQs
“Asia Pacific” region will lead the global Deep Cycle Battery market during the forecast period 2023 to 2032.
The key factors driving the market areaging population’s increasing use of golf cartsand increase in the number of high-speed trains.
The key players operating in the Deep Cycle Battery market are C&D Technologies Inc., Trojan Battery, Crown Battery Manufacturing Co., East Penn Manufacturing Co. Inc., U.S. Battery Manufacturing Company, Johnson Controls International Plc, EnerSys, EverExceed Industrial Co. Ltd., Exide Technologies, Rolls Battery, GS Yuasa Corp., HBL Power Systems Ltd., Others.
The global Deep Cycle Battery market is expanding growth with a CAGR of approximately 8% during the forecast period (2023 to 2032).
The global Deep Cycle Battery market size was valued at USD 2.5 Billion in 2022 and it is projected to reach around USD 5.2 Billion by 2032.