Overview of the global lithium ion battery market
Market research analysts at Technavio predict that the global lithium ion battery market will grow steadily during the next four years and post a CAGR of more than 15% by 2020. This market research analysis identifies the change in grid structure as one of the primary growth factors for the rechargeable lithium ion batteries market. The growing awareness towards the reduction of GHG emissions compels utilities and energy companies to generate power using low or no-carbon fuels, which requires them to change the functioning of the grid. Energy storage systems help energy companies in collaborating and transforming the grid to accommodate a number of low-carbon emitting technologies such as renewables and also helps in meeting the peak hour demand and minimizing the economic risk of shortfall or excess power generation. However, these grid additions increase the complexities of grid operation and energy companies will start using energy management systems, which will provide them a great insight of their power network in real time.
In terms of geographical regions, APAC will be the major revenue contributor to the Li-ion battery market throughout the next four years. The increased focus of the governments in this region towards reducing greenhouse gas (GHG) emissions, the rise in number of power outages, and the availability of manufacturers who provide lithium iron phosphate batteries at comparatively lower prices, are major factors
Overview of the global off-grid energy storage system market
Market research analysts at Technavio predict the global off-grid energy storage system market to grow steadily during the forecast period and estimate the market to post a CAGR of almost 7% by 2020. This market research analysis identifies the growth in demand from the telecom sector as one of the primary growth factors for this market. The recent years have seen an exponential growth of the telecom sector across the globe. To support the rapid explosion in traffic and provide better coverage, telecom operators have started installing new base transceiver stations (BTS). This has led to the installation of telecom towers in remote locations, which resulted in the adoption of diesel generators due to unreliable grid connections. Diesel accounts for more than 40% of the total operating expenditures and also pollutes the environment, which in turn, will induce telecom operators to use off grid energy storage systems to power their BTS. Some of the major telecom operators such as Bharthi Airtel and Eltek have already announced the installation of off grid power storage systems such as lithium-ion batteries and hybrid solar photovoltaic systems for powering their telecom towers.
Focusing on making advancements in the battery storage technology, companies will start increasing their R&D investments to develop new technologies that can considerably reduce battery costs. Aqueous solar flow created by the researches at Ohio State University that involves the integration of solar and lithium-iodine technology, the replacement of silicon anodes for Li-ion batteries with reed leaves, and the adoption of crystal
Overview of the global battery market for railways
Market research analysts at Technavio have predicted that the global battery market for railways will grow steadily during the predicted period and will grow at a CAGR of almost 4% by 2020. The recent years have witnessed a constant focus on reducing fuel import which has resulted in the rise in railway electrification projects. Also, diesel engines are not economical, they have high maintenance costs, and have an adverse impact on the environment, which also calls for the electrification of railway services. It has been observed that the average diesel consumption of the Indian Railways amounted to about USD 30 million till 2016. Focusing on reducing fuel consumption, the government has already implemented plans to electrify 35000 km of railways lines during the next three years. This trend will continue in several countries across the world, where a number of countries will start converting their diesel engine tracks into electric railroads. This will subsequently result in the purchase of more electric engines, in turn, propelling the demand for train batteries.
This market research and analysis predicts that in terms of geographical regions, EMEA will dominate the market throughout the next four years and will account for about 57% of the total market shares by 2020. An increase in R&D investment by leading railway vendors such as Alstom, Siemens, and Standler and a rise in the number of railway infrastructure projects in countries such as France and Germany, will propel the growth of the market in this region.
Competitive landscape and key vendors
The market is characterized by the presence of a moderate number of well-established global, regional, and small vendors. The international vendors offer better products at a comparatively lower price which helps them have a
Outlook of the global submarine battery market
According to the market research analyst at Technavio, the global submarine battery market will grow steadily and post a CAGR of approximately 5% by 2020. Recent advancements in lead-acid battery technology will be a key factor spurring this market’s growth prospects during the forecast period. The increasing demand for lead-acid batteries in defense applications will compel manufacturers to invest in research and development to achieve higher operational efficiency. One such development is the use of carbon materials as an active electrode, which increases the service life and enhances the charge and discharge performances of lead batteries. Furthermore, since these batteries are cost-effective and have the ability to operate at subfreezing temperatures, their demand among the end users will increase substantially.
One of the recent trends in the market is the growing demand for UUVs (unmanned underwater vehicles). The application of UUVs is rising for naval intelligence, mine countermeasure (MCM) operations, intelligence and surveillance roles, and anti-submarine warfare missions. Furthermore, UUVs are specially designed for underwater surveillance, hull inspections, dock inspections, and underwater mines deactivation. In recent times, there has been an increase in the utilization of unmanned systems for carrying out a wide range of electronic attacks (EA), communication transfer, combat, search, and rescue (CSAR) missions, and C4ISR operations. This recent increase in the usage of unmanned systems
Global outlook of the lithium iron phosphate battery market
Technavio’s market research analysts predict the global lithium iron phosphate battery market to grow impressively during the forecast period at a CAGR of more than 20%. The continuously growing population and the depletion of fossil fuel reserves have shifted the focus of countries all across the globe towards renewable power generation. This increased importance of renewable energy in addressing climate change and improving energy conservation will aid in the growth of the market in the coming years. Moreover, countries have also started integrating renewable energy resources with power grid networks. These power grids and hybrid power systems use lithium iron phosphate batteries as a backup. For instance, the San Nicolas Island wind-diesel microgrid in the US uses a 1000kWh LFP battery or lithium iron phosphate battery for backup.
Research and development of LFP batteries require extensive investment and the return on investment usually takes a long time. As a result, most battery manufacturers are mainly dependent on government funding to expand their facilities. Moreover, since the governments of countries in the South East Asia such as South Korea, Japan, and China already offer funding to support eco-friendly and green technologies, many manufacturers will start investing in these countries to develop manufacturing units in the coming years.
Competitive landscape and key vendors
Though characterized by the presence of several vendors, the market is currently served by highly competitive vendors. The competition among LFP battery manufacturers is mainly based on various factors such as such as brand recognition, product quality, reliability, durability, energy
Overview of the global battery market for E-scooters
Market research analysts at Technavio have predicted that the global battery market for E-scooters will grow steadily during the forecast period and post a revenue of about USD 631 million by 2020. The constant increase in the demand for electricity and the depletion of fossil fuels have encouraged countries across the globe to focus more on the generation of electricity through renewable energy sources. Renewable energy also has a positive impact on the climatic change, which will lead to the integration of renewable energy resources with power grid networks. The intermittent nature of renewable energy demands the need for energy storage. Moreover, as the power generated from renewable resources comes at a much lower cost, e-scooter consumers will be able to charge their vehicles at minimal costs. This will, in turn, drive the adoption of e-scooters in the coming years and will be one of the primary factors propelling the growth of the e-scooter battery market.
In addition to their environmental-friendly benefits, electric scooters have additional advantages such as no requirement for a license, registration, and road tax. This will further increase the demand for e-scooters and will subsequently lead to the rise in the growth of the electric scooter battery market. Though electric scooters that can run at speeds of more than 35mph need license and registration to be ridden, negligible emissions and minimum operating costs will fuel their demand.
Competitive landscape and key vendors
The market is currently marked by the presence of highly competitive vendors that compete on the basis of factors like brand recognition, product quality, reliability, durability, energy density, and product pricing
The energy storage industry has evolved over the last decade to address the growing demand for power. Energy storage includes pumped hydro, compressed air energy storage, batteries, flywheels, fuel cells, superconducting magnetic energy storage, thermal energy storage, and grid energy storage.
Many countries are becoming more conscious about meeting their carbon emission targets and focusing more on renewable energy options. Batteries are gaining importance as they help store energy from renewable sources, thereby overcoming issues with the intermittent nature of renewables.
In the past two years, energy storage has gained even more traction as nations integrate battery energy storage systems with renewable technologies to secure a stable power supply. As a result, a number of international companies, such as Tesla, Panasonic, and Samsung, are investing heavily in the energy storage segment.