Fast Market Research announces the availability of the new TechNavio report, "Global Li-ion Battery Market for ESS 2015-2019", on their comprehensive research portal
Boston, MA -- (SBWIRE) -- 08/18/2015 -- ESS is used to store surplus electricity that can be utilized during power shortages, blackouts, and peak hours of demand. Various technologies such as pumped-hydro storage systems, flywheels, advanced batteries (Li-ion), and other evolving technologies such as CAES are available for ESS. Li-ion batteries are increasingly being preferred for ESS because of inherent advantages such as high dynamic charge acceptance, longer shelf life, reliability, and lower total cost of ownership. Technological evolution will enable large-scale storage of electricity in Li-ion batteries.
Technavio's analysts forecast the global Li-ion battery market for ESS to grow at a CAGR of 26% over the period 2014-2019.
Commenting on the report, an analyst from Technavio's team said: "Centralized power plants are located in remote locations to eliminate the effects of the hazardous emissions they discharge. However, a drawback of centralized power plants is the huge electricity loss that takes place during transmission. This has led to the emergence of decentralized power generation in the country. Most of these plants generate power from renewable energy sources such as wind and solar. These energy sources generate fewer harmful emissions compared to fossil fuels, and can be located in residential areas. Losses due to transmission are also small as these plants are located near consumers and help generate power, storage of power, and load management. Thus, the increasing generation of energy from decentralized plants will propel the demand for ESS, thereby driving the demand for Li-ion batteries in ESS."
Get More Details on this Report and a Full Table of Contents at Global Li-ion Battery Market for ESS 2015-2019
According to the report, grid energy storage involves large-scale storage of electricity in power grids. Over the past three to four years, the demand for Li-ion batteries in grid energy storage has increased to counter fluctuations in the electricity demand and supply. Additionally, the growth in renewable energy production, especially in wind and solar energy, has heightened the need for grid energy storage.
Further, the report states that the main constraint to the broad adoption of Li-ion batteries in ESS is their high cost.
The key players in the Global Li-ion Battery Market for ESS are A123 Systems, BYD, Kokam, LG Chem, Panasonic, Samsung SDI and SAFT
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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