Lewes, DE -- (SBWire) -- 10/15/2015 --Report forecast the global battery market for ESS to grow at a CAGR of 59.6% over the period 2014-2019.
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.
The 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.
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.
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.
Key regions
- Americas
- APAC
- EMEA
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.
Market driver
- Helps mitigate intermittent nature of renewables
- For a full, detailed list, view our report
Market challenge
- Operational challenges related to lead-acid batteries
- For a full, detailed list, view our report
Market trend
- Li-ion batteries and sodium-sulphur batteries for storage of solar energy
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2019 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 94 pages "Global Battery Market for ESS 2015-2019" report covers Executive Summary, Scope of the Report, Market Research Methodology, Introduction, Market landscape, Market segmentation by application, Geographical segmentation, Key leading countries, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Key vendor profiles, Other prominent vendor profiles, Appendix.
For further information on this report, please visit- http://www.marketresearchreports.com/technavio/global%C2%A0battery-market-ess-2015-2019
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