Solar Batteries Market is Growing at 16.36% CAGR During 2016 to 2020

ReportsnReports.com adds Global Solar Batteries Market 2016-2020 latest research report; the analysts forecast global solar batteries market to grow at a CAGR of 16.36% during the period 2016-2020.

December 14, 2016 /MarketersMedia/ —

The global solar batteries market analyst says the latest trend gaining momentum in the market is increasing renewable energy investments. The cost of producing electricity using renewable energy is still relatively expensive when compared with conventional power generation. However, renewable technology is maturing, due to which the gap between conventional and renewable fuels has significantly reduced, making them competitive with newly built fossil fuel power plants.

Complete report on solar batteries market spread across 83 pages, analyzing 5 major companies and providing 41 data exhibits are now available at http://www.reportsnreports.com/reports/783648-global-solar-batteries-market-2016-2020.html

According to the solar batteries market report, one of the major drivers for this market is growing rural electrification. Electricity consumption is proportionate to the economic development of a country; though the relationship is rather complex, electricity is a pre-requisite for economic growth, as it drives infrastructure and social development.

The following companies are the key players in the global solar batteries market: East Penn Manufacturing, Exide Technologies, GS Yuasa, LG Chem, and Samsung SDI. Other prominent vendors in the market are: A123, Alpha Technologies, BAE Batterien, Battery Energy Power Solutions, Betta Batteries Europe, BYD, C&D TECHNOLOGIES, China Shoto, EnerSys, EverExceed Corporation, EverExceed Industrial Company, FIAMM, HBL Power Systems Limited, HOPPECKE Batterien, SAFT, Storage Battery Systems, and SYSTEMS SUNLIGHT. Order a copy of Global Solar Batteries Market 2016-2020 report @ http://www.reportsnreports.com/purchase.aspx?name=783648

The Americas accounted for a share of around 44% in the global solar batteries market and is expected to grow steadily at a CAGR of around 14% during the forecast period. The progressive growth of the market in the Americas is due to the increased investments in smart solar and growth in solar capacity and installations. The market in EMEA is expected to witness significant growth during the forecast period, by posting a CAGR of around 15%. Increasing support government policies, enormous solar potential, and grants such as FiT are the major factors driving growth of the solar battery market in this region.

APAC will be the fastest-growing region in the global solar batteries market by posting a CAGR of around 22%. Growing environmental concern and rising energy demand are the two strictures that will drive the growth of the market in APAC. Moreover, the growing demand for solar from the residential and utility sectors will also drive the growth of the solar batteries market in APAC.

Global Solar Batteries Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global solar batteries market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of solar batteries in the market.

Further, the solar batteries market report states that one of the major factors hindering the growth of this market is intermittent nature of solar power. With solar power prices spiraling downward, PV adoption have gained traction, leading to a high number of installations over the years. However, the intermittent nature of solar power is a key issue. Power output from solar PV depends on factors such as the efficiency of the panel, solar irradiation, and the degree of shading, which varies according to the time of day and the amount of cloud cover.

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