Lewes, DE -- (SBWIRE) -- 07/05/2016 -- Report forecast the global battery energy storage market for smart grid to grow at a CAGR of 72.91% during the period 2016-2020.

The suppression or filtering of electromagnetic noise in connectors can be achieved by adding diodes and capacitors to separate interfering high-voltage or high-frequency noise from the desired lower frequency signals. These connectors are called filtered connectors and have been used in the industry for more than three decades to provide cost- and space-effective solutions to EMI problems. They can be used in multiple applications such as satellites, avionics systems, communications, missiles, consumer electronics, and medical instruments.

With growth in population and increasing urbanization, there has been an increase in power consumption. Excess power consumption has led to power outages in many countries and has also resulted in heavy loads during peak hours. One of the reasons for power outages is the massive loss of electricity during its transmission and distribution from the power plants. The use of smart grid storage technologies enables reduction of such losses and improves the efficiency of power plants.

The report covers the present scenario and the growth prospects of the global battery energy storage market for smart grid for 2016-2020. To calculate the market size, Technavio considers the revenue generated from the total consumption of battery energy storage for smart grid globally. The report does not include revenue generated from the aftermarket service of the product.

The market is divided into the following segments based on geography:
- America
- APAC
- EMEA

According to the report, one driver impelling growth in this market is the rise in power consumption. With growth in population and increasing urbanization, there has been an increase in power consumption. Excess power consumption has led to power outages in many countries and has also resulted in heavy loads during peak hours. One of the reasons for power outages is the massive loss of electricity during its transmission and distribution from the power plants. The use of smart grid storage technologies enables reduction of such losses and improves the efficiency of power plants.

Further, the report states that the technological challenges of Li-on batteries will pose a significant challenge for this market. The optimal operating temperature of a Li-ion battery ranges from 50°F to 122°F. Li-ion batteries can overheat and may lead to a fire mishap because of the thermal instability. Li-ion batteries deteriorate after one year whether it is being used or not. After 1,000 cycles, the battery loses 30% of its overall capacity. As a result, their prolonged performance decreases over a period of time.

Global Battery Energy Storage Market for Smart Grid 2016-2020, 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 over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global battery energy storage systems for smart grids: Siemens, ABB, Samsung SDI, GE-Alstom, A123, Bosch, and BYD.

Other Prominent Vendors in the market are: AES Energy Storage, LG Chem, Saft, Axion Power International, and Solar Grid Storage.

Market driver
- Greater need for energy storage as distributed generation
- For a full, detailed list, view our report

Market challenge
- High installation costs
- For a full, detailed list, view our report

Market trend
- Grid modernization
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 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 77 pages and 43 Exhibit "Global Battery Energy Storage Systems for Smart Grid 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by batteries, Market segmentation by geography, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Key leading countries, Vendor landscape, Key vendor analysis, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/global-battery-energy-storage-systems-smart-grid-2016-2020

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