Pune, India -- (SBWIRE) -- 08/14/2018 -- Hybrid Battery Energy Storage System Market Global Market - Overview:

Hybrid Battery Energy Storage Systems refers to optimum combination of different batteries having different operational characteristics for energy storage. The combination of batteries for the energy storage system could be low power high energy or high power low energy or even both the types of batteries to meet the energy requirements. The need of high power and high-density batteries for electric vehicles, grid support for storing excess energy has driven the growth of Hybrid Battery Energy Storage Systems Market.

The Hybrid Battery Energy Storage System Market is expected to grow during the forecast period due to adoption of hybrid energy storage systems in Electric and hybrid vehicles. The key factor that drives the growth of this market is the emerging technology of electric vehicles. The traction motors of electric vehicles have characteristic demands of power and energy which are met by hybrid battery energy storage systems. Also to prevent the energy fluctuations, hybrid battery storage systems are used by storing excess electrical energy which reduces the additional cost related to spinning reserve.

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Hybrid Battery Energy Storage System may face challenges such as limited availability of energy, the energy generation from the storage system will be limited to the amount of energy stored. Also, lack of compatibility between existing utility and energy storage utility system, due to which the communication may hinder.

Hybrid Battery Energy Storage System Market - Key Players:

The prominent players in the Hybrid Battery Energy Storage System market are Amphenol Corporation (U.S.), Lockheed Martin (U.S.), General electric Corporation (U.S.), Panasonic Corporation (Japan), AEG Power Solutions (The Netherland), Hitachi ltd (Japan), NEC Corporation (Japan), Samsung SDI Co., ltd. (South Korea), Siemens AG (Germany), and Tesla Motors ltd. (U.S.) among others are profiled in Market Research Future analysis and are at the forefront of competition in the Hybrid Battery Energy Storage System market.

Hybrid Battery Energy Storage System Market - Segmentation:

Segmentation by Components: Supercapacitor, Ultracapacitor, Lithium-ion batteries, and Fly-wheel among others.

Segmentation by Application: Residential, Non-Residential, Automotive, and Utility among others

Segmentation by Region: North America, Europe, Asia Pacific and Rest of the world.

Hybrid Battery Energy Storage System Market - Regional Analysis:

The regional analysis of Hybrid Battery Energy Storage System market is studied for North America, Europe, Asia Pacific and Rest of the World. North America is leading since most of the key players offering hybrid battery energy storage systems are from the North America region and also well-established economies spending a larger share of investments on research and development on Hybrid Energy Storage Systems.

The Asia Pacific region also contributes towards the growth of the Hybrid Battery Energy Storage Systems market and is expected to grow during the forecast period due to high demand and adoption of renewable resources in residential sector which supports the growth of battery energy storage system in countries like China, India and Japan.

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Industry News

Dec 13, 2017 Panasonic to make batteries for Toyota's Electric Cars.

Toyota enters into partnership with Panasonic for collectively developing batteries for electric and hybrid vehicles. This will help Panasonic to extend its lead in lithium-ion batteries for automotive market.

May 10, 2017 NEC enters energy storage business with its first project from Engie Group

Engie Group, a multinational energy company has given contract of energy storage system of 2MW / 2MWh for its subsidiary Engie Energeia Chile in Latin America to NEC Energy Solutions and NEC Chile. This will be the first smart energy project of NEC Chile.

April 26, Lockheed Martin intend to launch Flow Battery to Make Renewables More Useful.

Lockheed Martin Company intends to launch Flow Batteries which are non-toxic and in expensive, to boost up adoption of renewable energy. The existing flow batteries are toxic and expensive as they are highly depended upon materials such as vanadium and zinc bromide

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