Overview of the global solar batteries market
Market research analysts at Technavio predict that the global solar batteries market will grow steadily during the next four years and post a CAGR of more than 16% by 2020. This market research analysis identifies the increasing demand from the telecom sector to be one of the major factors that will have a positive impact on the growth of the solar power batteries market in the coming years. With the growth of the telecom sector, telecom companies have started installing new base transceiver stations (BTS) to support the rapidly increasing traffic. To provide better coverage, telecom operators have the need to install base stations at remote locations as well, which will demand the need for diesel generators due to unreliable grid connections. However, diesel generators account for almost 40% of the total operating expenditure and also lead to environmental pollution. This will induce telecom service providers to use hybrid power systems to power their base stations. One of the major telecom companies, Bharthi Airtel has already announced to power about 40,000 telecom towers using hybrid batteries such as lithium-ion and solar hybrid.
One of the major trends that will gain traction in the solar power battery market in the coming years is the rise in deployment of microgrids. A microgrid consists of a number of energy generation sources such as solar, wind, biomass, geothermal and fossil fuel generators and supplies power to a local
Outlook of the global fuel cell market for combined heat and power (CHP) applications
According to the analysts at Technavio, the global fuel cell market for combined heat and power (CHP) applications will grow at an impressive CAGR of almost 25% by 2020. The rising adoption of fuel cell products is a critical factor responsible for this market’s growth over the next few years. It has been observed that fuel cell shipments for stationary applications have continually grown over the years, powering thousands of telecom towers and generating clean energy in buildings and the residential sector. This recent increase in the adoption of fuel cells can be attributed to the ability of fuel cells to use diverse fuel sources. The rising demand for fuel cells can also be attributed to benefits such as its ability to generate grid-independent power, as they are cleaner, operate silently, and offer higher efficiency than other related technologies. Some of the different areas where fuel cells are used in stationary applications include prime power, CHP, telecom towers, and in remote monitoring.
In terms of geography, the global fuel cell market for CHP applications was dominated by APAC in 2015. Though the market share for this region is envisaged to witness a slight decline by 2020, it will continue to be the largest market for fuel cells owing to high investments in fuel cell devices and advances in technology. Also, factors such as the rising need to reduce energy consumption across various sectors will result in this market’s strong growth in APAC during the forecast period.
Competitive landscape and key vendors
This market is in its nascent stage and is characterized by the presence of several vendors across the globe. The
Outlook of the global primary battery market
The global market for primary battery will grow moderately at a CAGR of over 4% by 2020. The rising demand for portable medical equipment will aid in the growth of this market over the next few years. At present, the demand for portable medical devices is increasing on a daily basis. High-energy pulse coupled with the battery makes a portable device 60% smaller than the usual devices. Pulse power along with batteries deliver long-term power solutions to high-end portable sophisticated devices like portable EKG and defibrillators. This technology accumulates energy and releases it when needed. Since most medical devices have different functionalities, their power requirements also vary considerably. As a result, vendors such as Saft have started offering a broad range of batteries with different outputs.
Another eminent trend that is bolstering the prospects for growth in this market is the replacement of carbon-zinc with alkaline batteries. In the primary battery segment, alkaline batteries occupy a significant share. These batteries find applications in a wide array of consumer products ranging from clocks, electronic door locks, and smoke and carbon monoxide detectors to freezer alarms. Alkaline batteries gained popularity in the 1970s as a high-capacity replacement for carbon-zinc batteries as these batteries last longer and have higher energy output and longer shelf life.
Competitive landscape and key vendors
This market is characterized by the presence of a multitude of vendors that provide high-tech, highly customized primary batteries for different end-user applications. The high adoption rate of primary batteries for applications such as toys and remote controls
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
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.