Albany, NY -- (SBWIRE) -- 11/11/2015 -- Microgrids are remote grids that can operate independently from conventional grid networks. They have control capabilities and are geared to connect to a main grid at a point of coupling that can maintain the voltage at the same levels as the main grid. These grids are also capable of negating instabilities by enabling the deployment of renewable energy sources such as solar PV and wind energy. Further, the use of renewable energy sources to serve remote areas helps reduce T&D losses by boosting efficiencies of the overall system. Various technologies such as advanced li-ion, advanced lead-acid, flow batteries, sodium-metal halide, and flywheels technologies are available for energy storage for microgrids. Technavio's analysts forecast the global energy storage market for microgrids to grow at a CAGR of 27.8% over the period 2014-2019.

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The report covers the present scenario and the growth prospects of the global energy storage market for microgrids for the period 2015-2019. The market has been segmented based on geography and technology.

Technavio's report, Global Energy Storage Market for Microgrids 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, APAC, and EMEA; it also covers the market landscape and its growth prospects in the coming years. The report includes a discussion on the key vendors operating in this market.

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Key vendors:
AES Energy Storage
Axion Power International
BYD
East Penn Manufacturing
Exide Technologies
LG Chem
NGK Insulators
SAFT
Samsung SDI

Key market driver:
Renewable energy installations
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Key market challenge:
Limited performance of lead-acid batteries in ESS
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Key market trend:
Government participation
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