DUBLIN, April 5, 2019 /PRNewswire/ — The “Global Battery Market for Energy Storage Systems (ESS) Market 2019-2023” report has been added to ResearchAndMarkets.com’s offering.
The battery market for energy storage systems (ESS) market will register a CAGR of almost 3% by 2023.
In the commercial and industrial (CSJ) sectors, downtime caused by a power outage for even a minute will lead to huge losses for companies. Interruption of any length in electricity supply creates difficulties for business operations in these sectors, as in facilities such as hospitals and nursing homes, a short power outage can put lives at risk. In commercial and industrial facilities in the manufacturing, engineering and construction, pharmaceutical and healthcare, oil and gas, industrial farming, mining, energy, aerospace, petrochemical, and warehousing and distribution sectors, power backup is highly essential for smooth operations.
Many companies have started investing in energy storage to overcome the issue of power outages. Therefore, the increased need for power backup across many industries will significantly drive the global battery market for ESS.
Increasing economic benefits of ESS
Energy storage systems have been gaining popularity over the past decade. The proliferation of ESS is mainly attributed to the rise in the number of solar PV installations. ESS are being used in various market segments, including in the utility, commercial, industrial, and residential sectors. In the residential sector, people use energy storage systems as power backup devices to store the solar power generated during the daytime, which is used at night time.
Stringent regulations against lead pollution
The disposal of battery waste requires a proper management system to ensure the safety of people and the environment. Therefore, the increase in lead pollution owing to the improper disposal of lead components from batteries poses a significant barrier to the use of lead as a component, which impedes the adoption of lead-acid batteries as an energy storage technology. This will have a negative impact on the growth of the global battery market for ESS.
The market appears to be highly fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Key Topics Covered:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY TECHNOLOGY
- Market segmentation by technology
- Comparison by technology
- Lithium batteries – Market size and forecast 2018-2023
- Sodium batteries – Market size and forecast 2018-2023
- Others – Market size and forecast 2018-2023
- Market opportunity by technology
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Increased adoption of microgrids
- Declining costs of battery storage systems
- Advances in battery ESS technologies
PART 12: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- BYD Company Ltd.
- LG Chem
- NGK Insulators, Ltd.
- Samsung Sdi Co.,Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/f3mm9t/global_battery?w=5
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