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Downhole Battery Packs Market Size, Industry Analysis Report By application (Downhole Battery Packs (MWD), Logging while digging (LWD), Pipeline inspection gauges (PIGs), Setting tools, Pressure gauges, Production logging, Near-bit subs, Rotary steerable tools), By end-user industry (Oil and gas, Mining, Construction) & Region - Forecasts By 2033

  • PUBLISHED ON
  • 2024-08-12
  • NO OF PAGES
  • 223
  • CATEGORY
  • Energy & Power

Market Overview

Downhole Battery Packs Market is presently worth USD 12,087 million and is poised to amplify at a CAGR of 10.7% over 2023-2033, thereby amassing a valuation of USD 29,020 million by end of the assessment timeline.

Report Scope

Report Attributes

Description

Market Forecast in 2022

USD 12,087 Million

Market Forecast in 2033

USD 29,020 Million

CAGR % 2023-2033

10.7%

Base Year

2022

Historic Data

2020-2021

Forecast Period

2023-2033

Report USP

Product Temperature rating, end-user industry, company share, company heatmap, company Application Technology Temperature rating capacity, growth factors and more

Segments Covered

Temperature rating, Application, End User  industry

Regional Scope

North America, Europe, APAC, South America and Middle East and Africa

Country Scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria

Key Companies

ВYD, Еnеrgіzеr Ноldіngѕ, Морhіе, Ѕіmрlо Тесhnоlоgу, Ѕоnу, Раnаѕоnіс Соrроrаtіоn, Аnkеr Тесhnоlоgу, СНЕЕRО UЅА, and Вrаvеn LС’ІNСІРІО Тесhnоlоgіеѕ.

Downhole Battery Packs Market: Description

High-quality, high-temperature lithium/thionyl chloride cells with an integrated Criterion IV battery gauge make up downhole battery packs. It has parts that can endure the battery's maximum recommended temperature. These batteries are used in battery-powered downhole tools for drilling, production, and exploration in the oil and gas industry. For communications, sensors, and other electronic equipment, these instruments need steady power. The market has grown as a result of the increasing demand for downhole battery packs from the aforementioned industries. The expansion of downhole battery packs in the market during the forecast period is also attributed to the expanding oil and gas sector.

The expansion of battery pack applications in consumer electronics including mobile phones and laptops, power tools, and electric vehicles is principally responsible for the market's revenue growth. A battery pack is a type of electrical power storage unit made up of a number of serially connected batteries. The gadget offers the appropriate power density or capacity and is rechargeable. The main elements of a battery pack that provide electrical conductivity between the units are batteries and interconnects. Usually, a temperature sensor on the device detects when the battery is fully charged.

The use of portable electronic devices has greatly increased, creating a thriving market for portable chargers. Over the past ten years, there has been a significant growth in the number of wireless devices and other consumer electronics that run on rechargeable batteries, with lithium-ion batteries powering the majority of these items. The market for portable battery packs has undergone a revolution as a result of the significant expansion in the range of applications for battery packs across different industry sectors. Power banks are most frequently used by mobile devices, however there are other portable electronic devices that are anticipated to experience significant growth in demand and open up new possibilities for portable charging solutions.

Over the past ten years, the popularity of mobile phones has risen quickly, and the introduction of inexpensive and accessible smartphones has further increased demand for portable battery packs. Some of the causes that encourage the usage of mobile phones include rapid urbanization throughout various regions, growing mobile phone adoption across geographies, rising disposable income, and growing digitization in all spheres of life.

Downhole Battery Packs Market- Segmental Analysis:

Temperature rating Insights

The 85C segment accounted for a significant revenue share in 2022 and is anticipated to grow at a significant CAGR.

Application Insights

The Measurement while drilling (MWD) segment held the largest revenue share of 26.7%. The segment is anticipated to witness a CAGR of 6.1% over the projected period. It requires accuracy in the visualization of the drilling direction in three dimensions and in the determination of bit temperature rating, thereby bolstering the growth of the market.

End User Industry Insights

The oil and gas segment hold the largest market share, and is projected to grow fasters in the upcoming years. Batteries are used to power an increasing number of downhole tools in oil fields. Extreme temperatures, shocks, and vibrations that much exceed those experienced in other hazardous settings make the downhole environment extremely hostile to battery technology.

Regional Insights

The major regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and South America. Among these, Asia-Pacific is projected to capture a substantial revenue share, Drilling and completion operations have increased throughout the Asia Pacific due to the region's rising energy demand. Due to the rising demand for greater well extraction, more deep exploration is now necessary.

Competitive Analysis

The prominent companies defining the competitive terrain of this marketplace are ВYD, Еnеrgіzеr Ноldіngѕ, Морhіе, Ѕіmрlо Тесhnоlоgу, Ѕоnу, Раnаѕоnіс Соrроrаtіоn, Аnkеr Тесhnоlоgу, СНЕЕRО UЅА, and Вrаvеn LС’ІNСІРІО Тесhnоlоgіеѕ.

·         In February 2021, Inventus Power, a leading provider of advanced battery systems for global markets, announced the launch of their new Downhole Battery Pack that is designed for use in oil and gas drilling operations. The battery pack is designed to provide reliable power in harsh operating conditions, and it is built with high-performance cells and advanced battery management systems to optimize performance and extend service life.

·         In September 2020, Exide Technologies announced the launch of their new range of lithium-ion batteries for downhole drilling operations. The batteries are designed to offer high energy density, long cycle life, and excellent performance in extreme temperatures and harsh operating environments. The new product line is expected to expand Exide's presence in the growing Downhole Battery Packs market.

Downhole Battery Packs Market- Segmental Analysis

By Temperature Rating

• 85C

• 150C

• 180C

• 200C

• Others

By Application

• Measurement while drilling (MWD)

• Logging while digging (LWD)

• Pipeline inspection gauges (PIGs)

• Setting tools

• Pressure gauges

• Production logging

• Near-bit subs

• Rotary steerable tools

• Others

By end-user Industry

• Oil and gas

• Mining

• Construction

• Others

1.      Global Downhole Battery Packs Market Introduction and Market Overview

1.1.    Objectives of the Study

1.2.    Global Downhole Battery Packs Market Scope and Market Estimation

1.2.1. Global Downhole Battery Packs Overall Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2023 - 2032)

1.2.2. Global Downhole Battery Packs Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2032

1.3.    Market Segmentation

1.3.1. Temperature Rating of Global Downhole Battery Packs Market

1.3.2. Application of Global Downhole Battery Packs Market

1.3.3. End-use Industry of Global Downhole Battery Packs Market

1.3.4. Region of Global Downhole Battery Packs Market

2.      Executive Summary

2.1.    Global Downhole Battery Packs Market Industry Trends under COVID-19 Outbreak

2.1.1. Global COVID-19 Status Overview

2.1.2. Influence of COVID-19 Outbreak on Global Downhole Battery Packs Market Industry Development

2.2.    Market Dynamics

2.2.1. Drivers

2.2.2. Limitations

2.2.3. Opportunities

2.2.4. Impact Analysis of Drivers and Restraints

2.3.    Pricing Trends Analysis & Average Selling Prices (ASPs)

2.4.    Key Mergers & Acquisitions, Expansions, JVs, Funding / VCs, etc.

2.5.    Porter’s Five Forces Analysis

2.5.1. Bargaining Power of Suppliers

2.5.2. Bargaining Power of Buyers

2.5.3. Threat of Substitutes

2.5.4. Threat of New Entrants

2.5.5. Competitive Rivalry

2.6.    Value Chain / Ecosystem Analysis

2.7.    Russia-Ukraine War Impacts Analysis

2.8.    Economic Downturn Analysis

2.9.      Market Investment Opportunity Analysis (Top Investment Pockets), By Segments & By Region

3.      Global Downhole Battery Packs Market Estimates & Historical Trend Analysis (2019 - 2022)

4.      Global Downhole Battery Packs Market Estimates & Forecast Trend Analysis, by Temperature Rating

4.1.    Global Downhole Battery Packs Market Revenue (US$ Mn) Estimates and Forecasts, by Temperature Rating, 2019 to 2032

4.1.1. 85C

4.1.2. 150C

4.1.3. 180C

4.1.4. 200C

4.1.5. Others

5.      Global Downhole Battery Packs Market Estimates & Forecast Trend Analysis, by Application

5.1.    Global Downhole Battery Packs Market Revenue (US$ Mn) Estimates and Forecasts, by Application, 2019 to 2032

5.1.1. Measurement while drilling (MWD)

5.1.2. Logging while digging (LWD)

5.1.3. Pipeline inspection gauges (PIGs)

5.1.4. Setting tools

5.1.5. Pressure gauges

5.1.6. Production logging

5.1.7. Near-bit subs

5.1.8. Rotary steerable tools

5.1.9. Others

6.      Global Downhole Battery Packs Market Estimates & Forecast Trend Analysis, by End-user Industry

6.1.    Global Downhole Battery Packs Market Revenue (US$ Mn) Estimates and Forecasts, by End-user Industry, 2019 to 2032

6.1.1. Oil and gas

6.1.2. Mining

6.1.3. Construction

6.1.4. Others

7.      Global Downhole Battery Packs Market Estimates & Forecast Trend Analysis, by Region

7.1.    Global Downhole Battery Packs Market Revenue (US$ Mn) Estimates and Forecasts, by Region, 2019 to 2032

7.1.1. North America

7.1.2. Europe

7.1.3. Asia Pacific

7.1.4. Middle East & Africa

7.1.5. South America

8.      North America Downhole Battery Packs Market: Estimates & Forecast Trend Analysis

8.1.    North America Downhole Battery Packs Market Assessments & Key Findings

8.1.1. North America Downhole Battery Packs Market Introduction

8.1.2. North America Downhole Battery Packs Market Size Estimates and Forecast (US$ Million) (2019 – 2032)

8.1.2.1.   By Temperature Rating

8.1.2.2.   By Application

8.1.2.3.   By End-user Industry

8.1.2.4.   By Country

8.1.2.4.1.     The U.S.

8.1.2.4.2.     Canada

8.1.2.4.3.     Mexico

9.      Europe Downhole Battery Packs Market: Estimates & Forecast Trend Analysis

9.1.    Europe Downhole Battery Packs Market Assessments & Key Findings

9.1.1. Europe Downhole Battery Packs Market Introduction

9.1.2. Europe Downhole Battery Packs Market Size Estimates and Forecast (US$ Million) (2019 – 2032)

9.1.2.1.   By Temperature Rating

9.1.2.2.   By Application

9.1.2.3.   By End-user Industry

9.1.2.4.        By Country

9.1.2.4.1.     Germany

9.1.2.4.2.     U.K.

9.1.2.4.3.     France

9.1.2.4.4.     Italy

9.1.2.4.5.     Spain

9.1.2.4.6.     Russia

9.1.2.4.7.     Rest of Europe

10.  Asia Pacific Downhole Battery Packs Market: Estimates & Forecast Trend Analysis

10.1.  Asia Pacific Market Assessments & Key Findings

10.1.1.   Asia Pacific Downhole Battery Packs Market Introduction

10.1.2.   Asia Pacific Downhole Battery Packs Market Size Estimates and Forecast (US$ Million) (2019 – 2032)

10.1.2.1.    By Temperature Rating

10.1.2.2.    By Application

10.1.2.3.    By End-user Industry

10.1.2.4.    By Country

10.1.2.4.1. China

10.1.2.4.2. Japan

10.1.2.4.3. India

10.1.2.4.4. Australia

10.1.2.4.5. South Korea

10.1.2.4.6. ASEAN

10.1.2.4.7. Rest of Asia Pacific

11.  Middle East & Africa Downhole Battery Packs Market: Estimates & Forecast Trend Analysis

11.1.  Middle East & Africa Market Assessments & Key Findings

11.1.1.   Middle East & Africa Downhole Battery Packs Market Introduction

11.1.2.   Middle East & Africa Downhole Battery Packs Market Size Estimates and Forecast (US$ Million) (2019 – 2032)

11.1.2.1.    By Temperature Rating

11.1.2.2.    By Application

11.1.2.3.    By End-user Industry

11.1.2.4.    By Country

11.1.2.4.1. U.A.E.

11.1.2.4.2. Saudi Arabia

11.1.2.4.3. Egypt

11.1.2.4.4. South Africa

11.1.2.4.5. Rest of Middle East & Africa

12.  South America Downhole Battery Packs Market: Estimates & Forecast Trend Analysis

12.1.  South America Market Assessments & Key Findings

12.1.1.   South America Downhole Battery Packs Market Introduction

12.1.2.   South America Downhole Battery Packs Market Size Estimates and Forecast (US$ Million) (2019 – 2032)

12.1.2.1.    By Temperature Rating

12.1.2.2.    By Application

12.1.2.3.    By End-user Industry

12.1.2.4.    By Country

12.1.2.4.1. Brazil

12.1.2.4.2. Argentina

12.1.2.4.3. Colombia

12.1.2.4.4. Rest of South America

13.  Competition Landscape

13.1.  Global Downhole Battery Packs Market Competition Matrix & Benchmarking, by Leading Players / Innovators / Emerging Players / New Entrants

13.2.  Global Downhole Battery Packs Market Competition White Space Analysis, By End-user

13.3.  Global Downhole Battery Packs Market Competition Heat Map Analysis, By End-user

13.4.  Global Downhole Battery Packs Market Concentration & Company Market Shares (%) Analysis, 2022

14.  Company Profiles

14.1.                     ВYD

14.1.1.   Company Overview & Key Stats

14.1.2.   Financial Performance & KPIs

14.1.3.   Product Portfolio

14.1.4.   Business Strategy & Recent Developments

* Similar details would be provided for all the players mentioned below 

14.2.      Еnеrgіzеr Ноldіngѕ

14.3.      Морhіе

14.4.      Ѕіmрlо Тесhnоlоgу

14.5.      Ѕоnу

14.6.      Раnаѕоnіс Соrроrаtіоn

14.7.      Аnkеr Тесhnоlоgу

14.8.      СНЕЕRО UЅА

14.9.      Вrаvеn LС’ІNСІРІО Тесhnоlоgіеѕ

14.10.  Others**

15.  Research Methodology

15.1.  External Transportations / Databases

15.2.  Internal Proprietary Database

15.3.  Primary Research

15.4.  Secondary Research

15.5.  Assumptions

15.6.  Limitations

15.7.  Report FAQs

16.  Research Findings & Conclusion

 

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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

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Business Solution

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Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

Frequently Asked Questions

What is the market size and growth projections?

The Global Downhole Battery Packs Market is presently worth USD 12,087 million and is poised to amplify at a CAGR of 10.7% over 2023-2033, thereby amassing a valuation of USD 29,020 million by end of the assessment timeline.

What are the drivers shaping various markets?

The use of portable electronic devices has greatly increased, creating a thriving market for portable chargers. Over the past ten years, there has been a significant growth in the number of wireless devices and other consumer electronics that run on rechargeable batteries, with lithium-ion batteries powering the majority of these items.

Who are the key competitors of market Players?

Some of the major players operating within the market are ВYD, Еnеrgіzеr Ноldіngѕ, Морhіе, Ѕіmрlо Тесhnоlоgу, Ѕоnу, Раnаѕоnіс Соrроrаtіоn, Аnkеr Тесhnоlоgу, СНЕЕRО UЅА, and Вrаvеn LС’ІNСІРІО Тесhnоlоgіеѕ.

What are the top performing segments, and countries / regions of each of the markets?

The major regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and South America. Among these, Asia-Pacific is projected to capture a substantial revenue share, Drilling and completion operations have increased throughout the Asia Pacific due to the region's rising energy demand.

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