This market research report presents detailed segmentation of the battery market for energy storage systems by application (Li-on, sodium, and lead), and by geography (Americas, APAC, and EMEA). Key findings in this market study also include an analysis of the leading vendors such as SAFT, Samsung, AES Energy Storage, A123, Axion Power, BYD, LG, and NGK Insulators.
Technavio has released updated information on the battery market, with the publication of its new market research report, global battery market for ESS. The battery energy storage installations across the world are expected to reach 5,367.8 MW between 2015 and 2019. The Americas dominate the battery market for energy storage systems (ESS), occupying around 58% of the total market share. The US and Canada are the market leaders in this region due to supportive government policies, consumer-driven interest to reduce CO2 emissions and the rise in battery development in these areas.
“A remarkable trend gaining significance in this market is the growing use of Li-ion batteries in solar energy storage. Li-ion batteries weigh less than lead-acid batteries, and thus ease battery change in renewable energy installations. Of late, manufacturers are increasingly adopting next-generation batteries for renewable energy storage, owing to the increasing demand for Li-ion batteries. They are installing high-energy silicon electrodes in these batteries for long-lasting energy efficiency. The drop in Li-ion battery prices coupled with the rising demand for gas-fired installations is also boosting the demand for li-ion batteries in renewable energy storage,” says Navin Rajendra, Lead Analyst, Energy, Technavio Research.
Increase in smart grid technologies has led to subsequent demand for grid stability, flexibility, and management of electricity within grids, and has necessitated the adoption of battery energy storage. Surge in renewable generation is prompting grid operators to implement energy storage models. The application of battery storage in smart grids has become multi-dimensional. It provides capacity firming, curtailment reduction at the generation level, and voltage control and T&D deferral. Also, battery energy storage provides control power as per the demand, thereby restricting fluctuations.
The leading vendors in the global battery market for ESS include SAFT, Samsung, AES Energy Storage, A123, Axion Power, BYD, LG, and NGK Insulators. The market consists of both international and local vendors providing high-tech, customized batteries for battery energy storage in the ESS space. The technological advancements in Li-ion, sodium-sulfur, and lead-acid battery products is expected to intensify the competition in this market.
A more detailed analysis is available in the Technavio report, Global Battery Market for ESS – Market Analysis 2015-2019.
We can customize this reports by other regions and specific segments upon request.
Other Related Reports:
- Global Battery Energy Storage Market for Renewables 2015-2019
- Lead Acid Battery Market for ESS in the US 2015-2019
- Global Li-ion Battery Market for ESS 2015-2019
- Global Li-ion Battery Market in Transportation Sector 2015-2019
- Li-ion Phone Battery Market 2015-2019- Global Trends and Forecast
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