Substation Batteries Market Overview 2018-2021: Key Findings, Regional Analysis, Future Demand, Key Players Review and Future Prospects
Substation Batteries Market Research Report by Type (Lead Acid Batteries (Vented Batteries, Sealed Batteries) and Nickel Cadmium Batteries) and Region -Forecast to 2021
pune, India – April 26, 2018 /MarketersMedia/ —
Market Overview:
Substation batteries preserve a stable source of electricity for vital equipment in case of failure of electric supply. Ever growing need of electricity is a chief factor motivating the need for substation batteries. Moreover, increasing industrialization in emerging nations also enhance the demand for substation batteries. As per the study conducted by Market Research Future, the global market for substation batteries is likely to grow at the CAGR of around 7%.
The substation batteries are a significant source of continuous power supply in energy and utilities sector. They are specialized battery systems which are designed for numerous utility applications which consist of energy generation switchgear and, transmission, & distribution. Substation batteries are a stable source of electricity which allows well-organized functioning of electronic devices in spite of loss of electricity supply. The growing need for electricity is propelling the market to a significant level across the globe. Substation batteries are robust and highly trustworthy, owing to which they have gained fame among the industries in the utilities sector.
The intensification in industrialization and urbanization are some of the factors subsidising towards the growth of the substation batteries market over the forecasted period. The upsurge in demand for substation batteries is unswervingly proportional to the necessity of electricity. Emerging nations are utilizing more substation batteries as they are likely to face problems due to failure of power supply, which has resulted into revenue loss. Henceforth, emerging nations are endorsing the market growth more than the advanced nations. Progression in technology used in substation batteries is creating novel opportunities for the market growth. However, substitute sources of power supply are confining the market growth precisely in developed regions.
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Geographically, the global substation batteries market has been divided into North America, Europe, Asia Pacific and Rest of the World. The Asia-Pacific region holds the highest market share and is the largest revenue contributor of the substation batteries market. The region is expected to continue to dominate over the forecasted period because of increase in industrialization and increasing demand of electricity. Due to frequent power failure, more industries are opting for substation batteries as peripheral power sources, hence enhancing the market growth. Europe and North America region are also expected to observe a stable market growth over the forecasted period. Moreover, Middle East and Africa region is showing a substantial growth pattern of the substation batteries market.
Competitive Analysis:
The global market for substation batteries is one of the prime high-tech advance market. The substation batteries market seems to be highly uneven owing to the presence of many global, regional, and local dealers. Dealers in this market are fronting financial losses and the continuous request for upgrades and modernization is creating obstacles to their nourishment in the market. The speedy advances in technology, extreme competition, recurrent changes in government policies, and environmental regulations, are the key aspects that challenge the growth of the vendors in this particular market space.
Johnson Controls Inc. (U.S.), Exide Technologies (U.S.), GS Yuasa (Japan), Robert Bosch GmbH (Germany), and Saft Groupe S.A. (France) among others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global substation batteries market.
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Industry News:
In October, 2017 – Exide Technologies, global provider of stored electrical-energy solutions for the industrial and transportation markets, have invested more than USD 35 million in an 180,000 sq. ft. state-of-the-art punched grid manufacturing site in Kansas City, Missouri, U.S. The grids produced in this new site will expressively improve the production, quality and durability of Exide batteries in North America and generate up to 50 new jobs to the Kansas City economy.
In May, 2017 – GS Yuasa Corporation announced that its container lithium-ion battery system with storage battery capacity of 6,750kWh was delivered to Kushiro Town Toritoushi Wildland Solar Power Plant, which started the utilization of the battery system on April 3, 2017. With the GS Yuasa product, the plant has now became Hokkaido Electric Power’s first mega-solar system installed with lithium-ion storage batteries, which is made in Japan.
In April, 2017 – Johnson Controls Inc. invested USD 7.5 million in its battery plant on Wetmore Road in Northeast San Antonio, U.S. The investment is a part of a USD 245 million development to the company’s battery plants in U.S. and Mexico, which was announced in late 2016. The multi-industrial company announced that it will make the investments to upsurge its capacity to manufacture absorbent glass mat, or AGM, batteries that are utilized in start-stop vehicle systems and which provides more power for modern vehicles.
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