London, 22 June 2015 – Technavio has published a new report on the lithium-ion battery market for ESS in the APAC region, which is expected to grow at a CAGR of around 17% from 2015-2019.
About the Report
The market research report pinpoints the increasing demand for Li-ion batteries in grid energy storage due to rising fluctuations in the supply of, and demand for electricity. Li-ion batteries store excess power and make this stored power available during peak demand.
“Several governments in APAC countries are planning to increase renewable energy generation by boosting the deployment of smart grids to support renewable energy reliability through investing in electric vehicle infrastructures,” says Faisal Ghaus, Vice President of Technavio.
The latest report by Technavio also emphasizes integration of ESS with micro-grids. Micro-grids need ESS to deal with variations in power generation from renewable power plants by allowing energy generation at one time and consumption at another.
Market Scope and Calculation of Market Size
The new Technavio report covers the present scenario and growth prospects of the lithium-ion battery market for ESS in the APAC region from 2015-2019. To calculate the market size, the report considers the overall Li-ion battery-based ESS installations across the region including Li-ion technologies such as LiFePO4, LTO, and LiPo.
Key Information Covered in the Report:
Key Vendors:
- A123 Systems
- BYD
- Kokam
- LG Chem
- Panasonic Corp.
- Samsung SDI
Market Growth Drivers:
- Increased Demand for Li-ion Batteries in Grid Energy Storage
- For a full detailed list, view our report.
Market Challenges:
- High Initial Investment
- For a full detailed list, view our report.
Market Trends:
- Integration of ESS with Micro-grids
- For a full detailed list, view our report.
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
