Lithium ion Battery Market for ESS in APAC 2015-2019
About Li-ion Battery for ESS
Energy storage is the mechanism of storing electricity during the off-peak period and supplying the stored electricity during the on-peak period. An ESS stores the excess electricity, which can be utilized during power shortages, power blackouts, and peak hours of demand. Various technologies such as pumped-hydro storage systems, flywheels, advanced batteries (li-ion), and other evolving technologies such as CAES are available for ESS. Li-ion batteries are increasingly being preferred because of their inherent advantages such as high dynamic charge acceptance, longer shelf life, reliability, and lower total cost of ownership. Rapid technological evolution will enable large-scale storage of electricity in li-ion batteries. Such electricity storage is required when the amount of electricity generated is greater than the electricity demand.
Technavio's analysts forecast the li-ion battery market for ESS in APAC to grow at a CAGR of 17.3% over the period 2014-2019.
Covered in this Report
The report covers the present scenario and the growth prospects of the li-ion battery market for ESS in APAC for the period 2015-2019.3 The market is segmented on the basis of the following: technology and ownership model.
Technavio's report, Li-ion Battery Market for ESS in APAC 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Li-ion Battery Market for ESS in APAC 2015-2019
Technavio recognizes the following companies as the key players in the li-ion battery market for ESS in APAC: A123 Systems, BYD, Kokam, LG Chem, Panasonic and Samsung SDI
Other Prominent Vendors in the market are: Amperex Technology, Boston-power, CALB, GS Yuasa, SK Innovation and Sony
Commenting on the report, an analyst from Technavio’s team said: “Currently, many countries in APAC are shifting away from a centralized power system to a distributed or decentralized generation system. The country is dependent on fossil fuels for energy generation. However, the long cycle of construction required for fossil fuel plants has increased the dependency on decentralized energy resources. Thus, the increasing generation of energy from decentralized plants will propel the demand for ESS, thereby driving the demand for Li-ion batteries in ESS.”
According to the report, grid energy storage refers to the large-scale storage of electricity in electrical power grids. The demand for Li-ion batteries in grid energy storage has increased over the years in response to rising fluctuations in the supply of and demand for electricity. Li-ion batteries store excess power and make this stored power available during peak hours of demand. The growth in renewable energy production, especially in wind and solar energy, in the past few years has led to increased need for grid energy storage.
Further, the report states that one of the key challenges for this market is high initial investment.
A123 Systems, BYD, Kokam, LG Chem, Panasonic, Samsung SDI, Amperex Technology, Boston-power, CALB, GS Yuasa, SK Innovation, Sony
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