all report title image
  • Published In : Mar 2024
  • Code : CMI6770
  • Pages :175
  • Formats :
      Excel and PDF
  • Industry : Consumer Electronics

Market Size and Trends

The deep cycle battery market is estimated to be valued at USD 2.57 billion in 2024 and is expected to reach USD 4.32 billion by 2031, growing at a compound annual growth rate (CAGR) of 7.7% from 2024 to 2031.

Deep cycle batteries are essential for numerous industrial and commercial applications that require long-lasting, low-maintenance energy storage solutions.

Deep Cycle Battery Market Key Factors

To learn more about this report, request a free sample copy

The deep cycle battery market is driven by the rising demand for cleaner energy alternatives and the increasing focus on utilizing renewable energy sources that produce intermittent power like solar and wind energy. As the renewable energy sector continues to expand significantly in the coming years, the demand for deep cycle batteries as an integral part of energy storage infrastructure is also expected to rise substantially. Their ability to provide power over extended periods of time makes them suitable for the agricultural, industrial, marine, RV, and golf cart applications that are incorporating more renewable energy-based solutions.

Growth in Off-grid Electrification

The increasing need for off-grid electrification in rural and remote areas is a major driver boosting the demand for deep cycle batteries. Access to reliable electricity continues to remain a challenge in many developing regions around the world as grid connectivity has failed to keep up with the pace of development. According to the International Energy Agency, over 700 million people worldwide still lack access to electricity with Sub-Saharan Africa being the worst affected region. To bridge this energy access gap, many developing nations are actively promoting off-grid renewable energy solutions especially solar home systems which offer a clean and affordable alternative. Deep cycle batteries which are specially designed for frequent discharge-recharge cycles play a critical role in such off-grid solar power systems by efficiently storing the energy generated from solar PV panels during the day for lighting and appliances use after sunset. Moreover, deep cycle batteries have a longer service life than conventional car batteries making them more suitable for off-grid household power requirements in remote villages and towns not connected to the central grid. The rising roll-out of large-scale off-grid electrification projects across Asia, Africa and Latin America by governments, development agencies and private renewable energy companies is creating steady demand growth for deep cycle batteries.

For instance, in January 2021, KiloVault launched the new 1200 HLX and 1200 CHLX heavy-duty deep-cycle lithium batteries. These batteries, with a capacity of 1,200 Watt-hours, are designed for applications such as marine and RV/camper use, golf carts, medical devices, and off-grid solar energy storage, with the ability to handle continuous charging and discharging currents.

Market Concentration and Competitive Landscape

Deep Cycle Battery Market Concentration By Players

To learn more about this report, request a free sample copy

Emergence of Energy Storage Applications

The emergence of new energy storage applications beyond traditional uses in solar home systems and UPS systems is another key driver fueling the demand for deep cycle batteries. With concerns over intermittent renewable energy supply and carbon emission goals, many developed nations are focusing on modernizing their power grids to integrate higher shares of variable renewable energy sources like solar and wind through large-scale energy storage installations. Technical advances are also enabling the use of battery storage in electric vehicles, microgrids, and behind-the-meter residential storage systems. Deep cycle batteries are well-suited for stationary storage applications owing to their ability to charge-discharge hundreds or thousands of times over many years. Additionally, their maintenance-free sealed designs make them suitable for use in indoor energy storage installations unlike flooded lead-acid variants. The uptake of battery storage is growing across many markets driven by factors like declining battery prices, new revenue streams through ancillary power grid services, time-of-use tariff arbitrage, and enhanced grid resiliency. The rapid cost declines witnessed in lithium-ion batteries is also boosting their competitive position versus conventional lead-acid batteries for several grid and residential storage roles.

For instance, on February 7, 2024, the U.S. Department of Energy's Advanced Materials and Manufacturing Technologies Office announced a US$15.7 million funding opportunity to boost the domestic manufacturing of next-generation batteries and energy storage systems.

Deep Cycle Battery Market Key Takeaways From Lead Analyst

To learn more about this report, request a free sample copy

Market Challenges: Limited Technological Advancements

The deep cycle battery market faces several challenges. Battery technology has improved only incrementally over the past decades and new breakthroughs are still needed to push energy density higher. Lead-acid batteries remain dominant but have environmental issues during production and disposal. Costs must come down further to compete with gas alternatives for more applications. Renewable energy growth also poses an adoption challenge as batteries are still too expensive for widespread residential storage. Regulation creates compliance complexities regarding transportation and sustainability.

Market Opportunities: Surge in Renewable Energy and Electric Vehicles

Demand will increase steadily as renewable installations grow and battery-powered vehicles emerge. Creative financing options could accelerate the mass adoption of home solar storage bundles. More commercial and industrial facilities want backup storage that is cleaner than gas generators. New chemistries from lithium, zinc, and beyond promise safer alternatives to lead with higher performance-per-cost.

Deep Cycle Battery Market By Battery Type

To learn more about this report, request a free sample copy

Insights, By Battery Type - Sealed Deep-cycle Batteries Lead by Design Advantages

Sealed deep-cycle batteries are expected to contribute the largest share of 47.1%in 2024, due to their inherent design advantages over flooded batteries. Unlike flooded batteries, sealed batteries do not require any water maintenance which makes them far more convenient for users. The sealed design prevents the escape of electrolytes and gas, eliminating the need to check battery fluid levels. This reduced maintenance needs make sealed batteries especially attractive for applications where access may be limited or batteries are installed in difficult to reach areas.

The sealed construction also provides durability advantages. Sealed batteries are less prone to leakage and spillage issues compared to flooded batteries. This durability means sealed batteries can withstand vibration and movement better. Their resilience leads to longer service lifetimes, especially in mobile applications like RVs, boats, or electric vehicles where batteries experience constant vibration and movement. The reliability of a leak-proof, spill-proof design gives users greater peace of mind.

From a performance standpoint, sealed batteries maintain stable voltage levels over a wider range of operating temperatures compared to flooded batteries. Their consistent output makes them well-suited for applications with varying climate or weather conditions like agriculture, construction, or telecom uses. Some sealed batteries also feature temperature sensors and regulating components to maximize performance even in extreme hot or cold environments.

The dominance of sealed batteries in the deep cycle market stems from the comprehensive advantages their design brings. Whether it is reduced maintenance needs, greater durability over decades of use, or stable output in fluctuating conditions, sealed batteries fulfill user requirements better than flooded alternatives. As deep cycle applications continue to expand into more remote areas and mobility sectors, the strengths of sealed batteries will help sustain their market leadership.

Insights, By Application- Off-Grid Power Applications Drive Highest Demand

The off-grid power segment is expected to hold the largest share of 32.27% in 2024, and generate the greatest demand among deep cycle battery end uses. Vast remote regions lacking access to centralized power grids rely on off-grid renewable energy sources like solar and wind, and these distributed energy systems require robust deep cycle batteries for energy storage. Off-grid power systems have seen rising deployment in rural agricultural communities, island nations, mountainous areas, and developing regions. Deep cycle batteries are integral to ensuring energy availability even when primary renewables are unavailable.

Within off-grid power, solar energy storage has emerged as the single largest application subset. As solar panel costs decline globally, solar is increasingly becoming the renewable of choice for micro-grids and home power systems away from main power lines. Paired with large-capacity deep cycle batteries, solar can provide round-the-clock electricity. The combination of renewable energy source and deep discharge battery storage fulfills an essential need for remote power autonomy.

The broad reach and growing use of off-grid power gives it unmatched scale among deep cycle battery end uses. From family homes and hamlets to telecom towers and whole island nations, standalone energy systems rely heavily on deep discharge capable batteries. No other segment touches such a vast geographical footprint or population base. With expanding energy access goals worldwide focusing on distributed renewables, off-grid applications will remain deeply reliant on deep cycle batteries, bolstering their stake in the market.

Regional Insights

Deep Cycle Battery Market Regional Insights

To learn more about this report, request a free sample copy

In 2024, the deep cycle battery market is set for significant growth, with Asia Pacific leading the charge both in market share and growth rate. Among all other regions, Asia Pacific is anticipated to hold the largest market share of 37.3%. This dominance can be attributed to the region's rapid industrialization, increasing demand for renewable energy storage solutions, and the expansion of sectors like electric vehicles and grid energy storage systems. Additionally, Asia Pacific is expected to experience the highest Compound Annual Growth Rate (CAGR) of 10.27% in 2024 compared to other regions. This robust growth is driven by factors such as government initiatives promoting clean energy adoption, technological advancements in battery technology, and the rising awareness of environmental sustainability. As a result, manufacturers and suppliers in Asia Pacific are poised to capitalize on these opportunities, further solidifying the region's position as a key player in the deep cycle battery market.

While Asia Pacific leads in market share and growth rate, other regions also play significant roles in shaping the deep cycle battery market landscape. In North America and Europe, although the market share may not be as significant as in Asia Pacific, steady growth is expected due to increasing adoption of renewable energy systems, electric vehicles, and off-grid power solutions. Latin America and the Middle East & Africa regions are also witnessing growth, albeit at a comparatively slower pace, driven by factors such as infrastructure development, rural electrification projects, and the expansion of telecommunications networks. Overall, the deep cycle battery market is poised for expansion globally, with Asia Pacific emerging as the frontrunner in both market share and growth rate, followed by other regions contributing to the market's evolution and adoption across various sectors.

Market Report Scope

Deep Cycle Battery Market Report Coverage

Report Coverage Details
Base Year: 2023 Market Size in 2024: US$ 2.57 Bn
Historical Data for: 2019 To 2023 Forecast Period: 2024 To 2031
Forecast Period 2024 to 2031 CAGR: 7.7% 2031 Value Projection: US$ 4.32 Bn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East & Africa: South Africa, GCC Countries, Israel, and Rest of Middle East & Africa
Segments covered:
  • By Battery Type: Flooded deep-cycle batteries , Sealed deep-cycle batteries (Absorbed Glass Mat (AGM) batteries, Gel batteries), and Lithium-ion batteries
  • By Application: Solar Energy Storage , Off-Grid Power , Electric Vehicles , Marine Equipment , Telecom Backup , and Others 
Companies covered:

C&D Technologies Inc., Crown Battery Manufacturing Co., East Penn Manufacturing Co. Inc., EnerSys, EverExceed Industrial Co. Ltd., Exide Technologies, GS Yuasa Corp., HBL Power Systems Ltd., Johnson Controls, Microtex Energy Private Limited, Midac S.p.A, Navitas System LLC., Rolls Battery, S. Battery Manufacturing Company, Su-Kam Power Systems, Trojan Battery, U.S. Battery Manufacturing Company, West Marine Inc., and Yokohama Trading N.V. (Suriname)

Growth Drivers:
  • Growth in Off-grid Electrification
  • Emergence of Energy Storage Applications
Restraints & Challenges:
  • Limited Technological Advancements
  • Environmental Concerns

Key Developments

  • In July 2023, GS Yuasa, a battery manufacturer, introduced its latest Pro-Spec range of versatile deep cycle batteries. Distributed by Serfac Limited, these batteries feature plate barrier prevention and separator systems to minimize self-discharge, extend storage periods, increase recharge cycles, and enhance power and reliability.
  • In July 2023, Dragonfly Energy, a manufacturer of deep-cycle lithium-ion batteries, unveiled an innovative deep-cycle battery called the 270Ah 12V GC3 ("BBGC3"), also known as the Battle Born Batteries Gamechanger 3.0. This battery, which received a patent in late 2022, is set to receive another patent.
  • In November 2021, KiloVault, a provider of renewable energy solutions, introduced the fourth iteration of their HAB series of wall-mount energy storage systems. The HAB V4 offers 7.5 kilowatt-hours of storage capacity, safety features, and expandability with some notable improvements.
  • *Definition: A deep cycle battery is a rechargeable lead-acid battery designed for applications that require repeated deep discharges without shortening the lifespan of the battery. Unlike standard car batteries, deep cycle batteries are able to withstand prolonged discharge and recharging cycles without damage. They are commonly used in recreational vehicles, golf carts, boats, solar, and off-grid power systems as they provide relatively long-lasting battery life over many charge/discharge cycles. Deep cycle batteries have thick plates allowing them to deliver a steady current.

Market Segmentation

  •  Battery Type Insights (Revenue, USD Bn, 2019 - 2031)
    • Flooded deep-cycle batteries
    • Sealed deep-cycle batteries
      • Absorbed Glass Mat (AGM) batteries
      • Gel batteries
    • Lithium-ion batteries
  •  Application Insights (Revenue, USD Bn, 2019 - 2031)
    • Solar Energy Storage
    • Off-Grid Power
    • Electric Vehicles
    • Marine Equipment
    • Telecom Backup
    • Others
  • Regional Insights (Revenue, USD Bn, 2019 - 2031)
    • North America
      • U.S.
      • Canada
    • Latin America
      • Brazil
      • Argentina
      • Mexico
      • Rest of Latin America
    • Europe
      • Germany
      • U.K.
      • Spain
      • France
      • Italy
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
    • Middle East & Africa
      • South Africa
      • GCC Countries
      • Israel
      • Rest of Middle East & Africa
  • Key Players Insights
    • C&D Technologies Inc.
    • Crown Battery Manufacturing Co.
    • East Penn Manufacturing Co. Inc.
    • EnerSys
    • EverExceed Industrial Co. Ltd.
    • Exide Technologies
    • GS Yuasa Corp.
    • HBL Power Systems Ltd.
    • Johnson Controls
    • Microtex Energy Private Limited
    • Midac S.p.A
    • Navitas System LLC.
    • Rolls Battery
    • S. Battery Manufacturing Company
    • Su-Kam Power Systems
    • Trojan Battery
    • U.S. Battery Manufacturing Company
    • West Marine Inc.
    • Yokohama Trading N.V. (Suriname)

Frequently Asked Questions

The CAGR of the deep cycle battery market is projected to be 7.7% from 2024 to 2031.

Growth in off-grid electrification and emergence of energy storage applications are the major factors driving the growth of the deep cycle battery market.

Limited technological advancements and environmental concerns are the major factors hampering the growth of the deep cycle battery market.

In terms of battery type, sealed deep-cycle batteries is estimated to dominate the market revenue share in 2024.

C&D Technologies Inc., Crown Battery Manufacturing Co., East Penn Manufacturing Co. Inc., EnerSys, EverExceed Industrial Co. Ltd., Exide Technologies, GS Yuasa Corp., HBL Power Systems Ltd., Johnson Controls, Microtex Energy Private Limited, Midac S.p.A, Navitas System LLC., Rolls Battery, S. Battery Manufacturing Company, Su-Kam Power Systems, Trojan Battery, U.S. Battery Manufacturing Company, West Marine Inc., and Yokohama Trading N.V. (Suriname) are the major players.

Asia Pacific is expected to lead the deep cycle battery market in 2024.

View Our Licence Options

Need a Custom Report?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports

Customize Now

Want to Buy a Report but have a Limited Budget?

We help clients to procure the report or sections of the report at their budgeted price. Kindly click on the below to avail

Request Discount

Reliability and Reputation

DUNS Registered
DMCA Protected


Reliability and Reputation


Reliability and Reputation


Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients
trusted clients logo