Substation Batteries Market can be segmented on the basis of type into lead-acid batteries and nickel-cadmium batteries, Global Substation Battery Market can expect growth of 8% CAGR during the forecast period (2018-2027)
Pune, India – January 8, 2019 —
The Substation Batteries Market is fast becoming an integral part of the electricity supply as it helps in maintaining a smooth flow of power. Its impact has turned all the more pervasive with the growing industrialization. Countries are depending much on industrialization for progress. Substation batteries, by providing that, has come under the limelight and is now gaining traction from industries across verticals. These batteries are designed for various utility applications such as switchgear and energy generation, transmission, and distribution. The Global Substation Battery Market can expect growth of 8% CAGR during the forecast period (2018-2027). Market Research Future (MRFR) in their report analyzes different segments and factors that can impact the market and ease its growth during the forecast period. Among the major factors, industrialization and rapid urbanization are impacting the market considerably. In major cities across the globe, the continuous flow of electricity has become important, and as a sufficient backup, substation batteries can efficiently perform. In industries, loss of power means plummets in revenues which, at any given time, industries would like to avoid. In addition, technological advancement is providing much leverage to substation batteries as they can now generate more power.
Despite its benefits, alternative power sources are also gaining much traction which poses as a market irritant during the forecast period.
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The Substation Batteries Market can be segmented on the basis of type into lead-acid batteries and nickel-cadmium batteries. Lead acid batteries can be further segmented into vented batteries and sealed batteries.
Region-specific analysis of the Global Substation Batteries Market includes the Americas, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA).
The Americas Substation Batteries Market can be segmented into North and South America. North America market can be further segmented into the U.S., Canada, Mexico, and Rest of North America. The market here is quite substantial and is expected to impact the global market during the forecast period as well. Superlative industrial facilities, the presence of several big cities, and high investment capacity are playing well for the regional market.
South America has segments such as Brazil, Argentina, Venezuela, and Rest of South America. Heavy industrial revamping is expected to promote the industry in the region.
Europe’s substation batteries market consists Germany, France, Italy, Spain, the U.K., Netherlands, and Rest of Europe. The region shares similar features with North America. Technological and industrial superiority are proving effective for the region.
The APAC Substation Batteries Market has China, India, Japan, South Korea, Australia, and Rest of Asia Pacific. The regional market is having a significant impact due to the industrial overhauling caused by countries such as China and India. Japan’s industrial growth is also playing a crucial role. In Australia, industrial expansion is witnessing considerable change owing to which the substation batteries market is witnessing much traction.
However, the MEA Substation Batteries Market, in regions other than Saudi Arabia, UAE, Kuwait, and Qatar is not witnessing much growth due to poor economic condition.
Key players in the Substation Batteries Market include Johnson Controls Inc. (U.S.), Exide Technologies (U.S.), GS Yuasa (Japan), Robert Bosch GmbH (Germany), and Saft Groupe S.A. (France).
In May 2017, GS Yuasa Corporation announced the initiation of their lithium-ion battery system with a storage battery capacity of 6,750kWh in Kushiro Town Toritoushi Wildland Solar Power Plant. This was a first in its own way. The GS Yuasa product made the plant Hokkaido Electric Power’s first mega-solar system installed with lithium-ion storage batteries made in Japan.
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Intensium Max of Saft Groupe S.A. is a megawatt scale Li-ion containerized energy storage system for grids and renewable energy sources that offers unprecedented flexibility to industries. Ideal battery storage for medium to large-scale, on-grid solar and wind power schemes, Intensium Max can also perform in medium and low voltage grids.
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