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
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
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
Market outlook of the grid scale energy storage market
Technavio’s research analyst predicts the global grid scale energy storage market to grow steadily at a CAGR of around 34% during the forecast period. Fossil fuels, the most extensively consumed power source, are exhaustible. The deficit between the demand and the availability of energy is increasingly getting addressed by these storage systems. Given these factors, the market is expected to grow significantly during the forecast period.
Government mandates and concerns over carbon emissions are anticipated to increase the demand for grid-scale energy storage systems. For instance, in 2014, the California state government imposed a mandate that required the state's investor-owned utilities to purchase about 1.3 GW of storage capacity by the year 2020. This gave a massive boost to the energy storage sector. Such mandates are likely to accelerate the development of storage technologies. Globally, the development of next generation batteries drives the demand for grid-scale energy storage.
Segmentation by technology and analysis of the grid scale energy storage market
- Pumped hydroelectric storage system
- Thermal storage
- Battery storage
- Compressed air energy storage
- Flywheel storage
- Molten salt storage
The pumped hydroelectric storage segment dominated the market during 2015 with a market share of around 94%. Technological feasibility, cost competitiveness, and government support have increased the global demand for grid-scale energy storage systems. For instance, in the US, the number of PHS plants is expected to rise during the forecast period with 50 active preliminary permits.
Geographical segmentation and
Global outlook of the valve regulated lead-acid batteries market
Market research analysts at Technavio have predicted that the global valve regulated lead-acid batteries market will grow steadily at a CAGR of about 8% by 2020. Forklifts have become the ideal choice for indoor operations in various sectors, such as automotive industries, iron and steel plants, food and beverages, and radioactive waste handling. As a result, the recent years have witnessed an exponential increase in the market share of electric forklifts. Since valve regulated rechargeable batteries offer high resilience even in difficult environmental conditions involving dirt, chemicals, and vibrations, they have become the ideal choice for use in forklifts. This market study report considers this increasing demand for forklifts as one of the major factors that will augment the growth of the valve regulated lead-acid (VRLA) rechargeable battery market.
It has been observed that sudden losses of power, voltage fluctuations, and power surges are the principle causes of damage to sensitive electronics. The exponential increase in the adoption of electronic devices has increased the dependence on a constant power supply to ensure continuity in daily operations. UPS systems enable constant power supply to electronic devices, prevent loss of data and productivity, protect electrical appliances from distorted power failures, and also regulate power fluctuations. The growing number of power outages will lead to an increasing demand for continuous power supply and storage, which will be a major trend that will gain traction in this market. The availability of cost-efficient labor and raw materials have
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.