Battery Energy Storage Market for Renewables – Technavio Unveils Trends, Forecast & Growth Prospects
By Business Wire News
By Business Wire News
Technavio has published a new report on the global battery energy storage market for renewables,which is expected to grow at a CAGR of almost 66% from 2015-2019.
Battery energy storage market segmentation including battery technology and geography
Technavio’s report analyses the solutions and products offered by market vendors and presents a comprehensive breakdown in terms of market segmentation for different battery technologies, including Li-ion batteries, lead-acid batteries, sodium-based batteries, and other batteries.
Additionally, analysts have segmented market projections by key geography, focusing on the Americas, EMEA, and the APAC region.
“The increasing demand for Li-ion batteries is compelling manufacturers to adopt next-generation batteries for renewable energy storage. The Li-ion battery market is evolving by adopting high-energy silicon electrodes instead of conventional graphite ones,” says Faisal Ghaus, Vice President of Technavio.
Battery energy storage: Market scope and calculation of market size
This report covers the present scenario and growth prospects for the global battery energy storage market for renewables from 2015-2019. To calculate the market size, the report considers the overall energy storage of renewable based on different battery technologies.
Industry analysis includes:
- Key Vendors:
- A123 Systems
- AES Energy Storage
- Axion Power International
- NGK Insulators
- LG Chem
- Samsung SDI
- Market Growth Drivers:
- Need to mitigate intermittent nature of renewables
- Rapid growth in smart grid technologies
- Market Challenges:
- Operational challenges of lead-acid batteries
- Rising pollution from lead-acid recycling
- Market Trends:
- Development of next-generation batteries
- Growing concerns of reducing emissions
View the global battery energy storage market for renewables report.
Technavio currently has more than 3000 market research reports on a huge range of topics, including 200+ reports on the battery market:
- Global Battery Market for Energy Storage in Telecom 2015-2019
- Global Battery Market for ESS – Market Analysis 2015-2019
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