A123 Systems LLC, Build Your Dream Ltd. And Kokam Co. Ltd. are three key vendors highlighted in a new Technavio report
London, 10 June 2015 – Technavio has published a new report on the li-ion battery market for energy storage systems in the US, which is expected to grow at a CAGR of nearly 25% from 2015-2019.
Li-ion battery market segmentation by technology and geography
Technavio’s report analyses the solutions and products offered by market vendors and presents a comprehensive breakdown in terms of market segmentation by technology, including li-ion batteries, lithium iron phosphate (LiFePO4), lithium-ion titanate (LTO), lithium polymer (LiPo), lithium/manganese dioxide (Li/MnO2) and lithium nickel cobalt aluminum (LiNiCoAlo2).
Additionally, analysts have segmented market projections by key geography, focusing on West Virginia, Illinois, and California.
“In centralized power plants, a huge amount electricity is lost during power transmission, which has led to the emergence of decentralized power generation, which generates power from renewable energy sources like wind and solar,” says Faisal Ghaus, Vice President of Technavio.
Li-ion Batteries: Market scope and calculation of market size
This report covers the present scenario and growth prospects for the li-ion battery market for energy storage systems in the US from 2015-2019. To calculate the market size, we have considered the overall Li-ion battery based ESS installation across the country.
Industry analysis includes:
Key Vendors:
- A123 Systems LLC
- Build Your Dream Ltd.
- Kokam Co. Ltd.
- LG Chem
- SAFT
Market Growth Drivers:
- Increased demand for Li-ion batteries in grid energy storage
- Need to reduce power blackout
Market Challenges:
- High initial investment
- Safety concerns
Market Trends:
- Growing demand for decentralized power generation
- Help in implementing electric grid expansion
View the li-ion battery market for energy storage systems in the US report.
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
