Lead acid battery market for ESS: Key market research findings:
- Growing prominence of ESS projects in the Americas
- Increased implementation of advanced lead-acid batteries in ESS projects
Technavio has added a new report on the global lead acid battery market for ESS to its lead-acid battery portfolio. The market is expected to grow at a CAGR of around 5% during the forecast period of 2015 and 2019, owing to the need for reliable and continuous power supply across various industries. Energy storage systems (ESS) are being integrated with renewable energy, leading to increased implementation of advanced lead-acid battery technologies by the power utilities.
The new research report from Technavio discusses in detail the key drivers and trends responsible for growth, as well as the segments with the maximum growth potential.
Americas dominates the lead-acid battery market for ESS with a market share of around 86%, closely followed by APAC and EMEA. Much of America’s contribution in the market comes from the US, as it is a leading nation in shifting energy storage technologies onto power grid. Augmented demand for grid stability and inclination towards renewable power generation has led to mushrooming of ESS projects in the region. High renewable energy potential areas like California, Ohio, Hawaii, West Virginia, Alaska, Washington and Illinois are home to some major renewable ESS projects.
Source: Technavio Research
“Usage of advanced lead-acid batteries in ESS projects are becoming prominent as these possess carbon electrodes that improve battery quality and cycle life. These batteries enable ESS to supply power continuously with fewer interruptions, resulting in effective load management and improved reliability of power grids. Grid energy storage are preferring lead-acid batteries because of their large-scale electricity storage capacities,” says Navin Rajendra, Energy, Technavio Research
Leading vendors in the global lead-acid battery market include Axion Power International, C&D Technologies, EaglePicher Technologies, Ecoult, EnerSys, Exide Technologies, Princeton Power Systems and Surrette Battery Company. The battery market for ESS is vastly diverse and hosts many international and domestic players in battery technology. Vendors are introducing new products to survive in the market and gain a larger share in the market.
A more detailed analysis is available in the Technavio report, Global Lead acid battery market for ESS 2015-2019.
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