TechNavio today launched its report Global Off-grid Energy Storage Market 2012-2016 based on an in-depth analysis covering the Americas, and the EMEA and APAC regions. The report aims to aid decision makers’ understanding of the present scenario and the growth prospects of the market.
Commenting on the report, an analyst from TechNavio’s Clean Tech team said: ”Among the various techniques to reduce greenhouse gas emissions, the concept of green energy is thought to be the most significant method. Green energy generation is the method of using renewable resources as raw materials for energy generation and storage, which results in the reduction of emissions. One of the off-grid energy storage techniques, fuel cell energy storage, leads to a substantial reduction in greenhouse gas emissions because it uses hydrogen and not carbon for electricity generation and storage. This shift toward green technology is one of the major trends prevailing in the Global Off-grid Energy Storage Market.”
According to the report, the cost-effectiveness of raw materials is one of the major drivers in the Global Off-grid Energy Storage Market. The cost-effectiveness of various off-grid energy storage technologies such as lithium-ion batteries is one of the major driving factors in the market. Lithium, which is used in the anode of lithium-ion batteries, is cheaper than other elements such as nickel and lead. Consequently, lithium-ion batteries are manufactured on a large scale to attain high efficiency and lower costs. This advantage will drive the demand for lithium-ion-based off-grid energy storage systems in the forecast period.
Further, the report states that governmental budget cuts constitute one of the major challenges in the Global Off-grid Energy Storage Market.
The report also includes a discussion of the key vendors operating in this market. The key vendors dominating this market space are Ballard Power Systems Inc., FuelCell Energy Inc., Hydrogenics Corp., and UTC Power LLC. The other vendors mentioned in the report are Plug Power Inc., Protonex Technology Corp., IdaTech LLC, and Ceramic Fuel Cells Ltd.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/global-grid-energy-storage-market-2012-…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our Clean Tech market research, please visit https://www.technavio.com/clean-technology
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TechNavio Announces the Publication of its Research Report – Global Off-grid Energy Storage Market 2012-2016
