Global Battery Market for ESS 2015-2019
About battery energy storage
Battery energy storage stores surplus electricity, which can be utilized during power shortages, blackouts, and peak demand. Surplus electricity generated is stored in batteries. This is supplied to customers when demand exceeds the amount generated. Various technologies such as Li-ion, lead-acid, sodium-sulphur, and other advanced battery technologies are available for this purpose. Lead-acid batteries were increasingly preferred for this purpose because of inherent advantages such as high dynamic charge acceptance, longer shelf life, reliability, and lower total cost of ownership. However, Li-ion batteries dominated the ESS segment as of 2014 and their share is expected to increase in the future due to their efficiency.
Technavio's analysts forecast the global battery market for ESS to grow at a CAGR of 59.6% over the period 2014-2019. Covered in this ReportThe report covers the present scenario and growth prospects of the global battery market for ESS for 2015-2019. The market has been segmented on the basis of geography and technology.
Technavio's report, Global Battery Market for ESS 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers APAC, EMEA, and the Americas; it also covers the market landscape and its growth prospects in the coming years. The report also includes a discussion on the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Battery Market for Energy Storage Systems (ESS) 2015-2019
Technavio recognizes the following companies as the key players in the Global Battery Market for Energy Storage Systems (ESS): AES Energy Storage, A123, Axion Power, BYD, LG Chem, NGK Insulators, SAFT and Samsung
Other Prominent Vendors in the market are: FIAMM Energy, Prudent Energy, Rongke, UniEnergy, GE, Mitsubishi, Amperex, Boston Power, CALB, Enersys, and Primus Power.
Commenting on the report, an analyst from Technavio’s team said: “Countries worldwide are exhibiting an increased level of interest in reducing emission levels through the promotion of clean energy initiatives. Therefore, the adoption of solar and wind energy storage, as well as other viable alternatives to fossil-fuel power generation paradigms, has seen a steep climb globally. Battery energy storage in renewables such as wind and solar energy is considered a major alternative for conventional fossil-fuel installations. The shift toward solar energy storage is helping countries reduce their fossil-fuel import costs. Initially, solar installations were equipped with lead-acid batteries as backup power systems.”
According to the report, the increasing growth in smart-grid technologies has given rise to the need for grid stability, flexibility, and management of electricity within grids by adopting battery energy storage. As countries plan to increase the share of renewable generation in their overall power mix, the need for grid stability is prompting grid operators to adopt battery energy storage paradigms.
Further, the report states that technological problems related to sodium-sulfur batteries hinders the market growth
AES Energy Storage, A123, Axion Power, BYD, LG Chem, NGK Insulators, SAFT, Samsung, FIAMM Energy, Prudent Energy, Rongke, UniEnergy, GE, Mitsubishi, Amperex, Boston Power, CALB, Enersys, Primus Power
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