Albany, NY -- (SBWIRE) -- 06/30/2016 -- About the Battery Energy Storage Market for Smart Grid

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With growth in population and increasing urbanization, there has been an increase in power consumption. Excess power consumption has led to power outages in many countries and has also resulted in heavy loads during peak hours. One of the reasons for power outages is the massive loss of electricity during its transmission and distribution from the power plants. The use of smart grid storage technologies enables reduction of such losses and improves the efficiency of power plants.

Technavios analysts forecast the global battery energy storage market for smart grid to grow at a CAGR of 72.91% during the period 2016-2020.

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Covered in this report

The report covers the present scenario and the growth prospects of the global battery energy storage market for smart grid for 2016-2020. To calculate the market size, Technavio considers the revenue generated from the total consumption of battery energy storage for smart grid globally. The report does not include revenue generated from the aftermarket service of the product.

The market is divided into the following segments based on geography:

America
APAC
EMEA

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Technavio's report, Global Battery Energy Storage Market for Smart Grid 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
Siemens
ABB
Samsung SDI
GE-Alstom
A123
Bosch
BYD

Other prominent vendors

AES Energy Storage
LG Chem
Saft
Axion Power International
Solar Grid Storage

Market driver
Greater need for energy storage as distributed generation
For a full, detailed list, view our report

Market challenge
High installation costs
For a full, detailed list, view our report

Market trend
Grid modernization
For a full, detailed list, view our report

Key questions answered in this report

What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?

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