Report forecast the global battery energy storage
market for smart grid to grow at a CAGR of 72.91% during the period 2016-2020.
The suppression or filtering of electromagnetic
noise in connectors can be achieved by adding diodes and capacitors to separate
interfering high-voltage or high-frequency noise from the desired lower
frequency signals. These connectors are called filtered connectors and have
been used in the industry for more than three decades to provide cost- and
space-effective solutions to EMI problems. They can be used in multiple
applications such as satellites, avionics systems, communications, missiles,
consumer electronics, and medical instruments.
With growth in population and increasing
urbanization, there has been an increase in power consumption. Excess power
consumption has led to power outages in many countries and has also resulted in
heavy loads during peak hours. One of the reasons for power outages is the massive
loss of electricity during its transmission and distribution from the power
plants. The use of smart grid storage technologies enables reduction of such
losses and improves the efficiency of power plants.
The report covers the present scenario and the growth
prospects of the global battery energy storage market for smart grid for
2016-2020. To calculate the market size, Technavio considers the revenue
generated from the total consumption of battery energy storage for smart grid
globally. The report does not include revenue generated from the aftermarket
service of the product.
The market is divided into the following
segments based on geography:
- America
- APAC
- EMEA
According to the report, one driver impelling
growth in this market is the rise in power consumption. With growth in
population and increasing urbanization, there has been an increase in power
consumption. Excess power consumption has led to power outages in many
countries and has also resulted in heavy loads during peak hours. One of the reasons
for power outages is the massive loss of electricity during its transmission
and distribution from the power plants. The use of smart grid storage
technologies enables reduction of such losses and improves the efficiency of
power plants.
Further, the report states that the technological
challenges of Li-on batteries will pose a significant challenge for this
market. The optimal operating temperature of a Li-ion battery ranges from 50°F
to 122°F. Li-ion batteries can overheat and may lead to a fire mishap because
of the thermal instability. Li-ion batteries deteriorate after one year whether
it is being used or not. After 1,000 cycles, the battery loses 30% of its
overall capacity. As a result, their prolonged performance decreases over a
period of time.
Global Battery Energy Storage Market for Smart
Grid 2016-2020, has been prepared based on an in-depth market analysis with
inputs from industry experts. The report covers the market landscape and its
growth prospects over the coming years. The report also includes a discussion
of the key vendors operating in this market.
key players in the global battery energy storage
systems for smart grids: Siemens, ABB, Samsung SDI, GE-Alstom, A123, Bosch, and
BYD.
Other Prominent Vendors in the market are: AES Energy
Storage, LG Chem, Saft, Axion Power International, and Solar Grid Storage.
Market driver
- Greater need for energy storage as distributed generation
- For a full, detailed list, view our report
Market challenge
- High installation costs
- For a full, detailed list, view our report
Market trend
- Grid modernization
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 77 pages and 43 Exhibit “Global
Battery Energy Storage Systems for Smart Grid 2016 - 2020” report covers Executive
summary, Scope of the report, Market research methodology, Introduction, Market
landscape, Market segmentation by batteries, Market segmentation by geography,
Market drivers, Impact of drivers, Market challenges, Impact of drivers and
challenges, Market trends, Key leading countries, Vendor landscape, Key vendor
analysis, Appendix.
For
more information Visit at: http://mrr.cm/JBA
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