Substation Battery Market to rise at CAGR of 9.12% through 2030 - Report by Market Research Future (MRFR)

New York, Dec. 22, 2021 (GLOBE NEWSWIRE) -- Substation Battery Market Overview: According to a comprehensive research report by Market Research Future (MRFR), "Substation Battery Market Research Report: Information by Type (Lead Acid Batteries (Sealed Batteries & Vented Batteries) and Nickel Cadmium Batteries), and Region (APAC, Europe, North America, South America, and Middle East & Africa) – Forecast till 2030".

Market Research Future's Review on Substation Battery Market

The global Substation Battery Market will grow at an 9.12% CAGR by 2030, states the latest Market Research Future report.

Get Free Sample PDF Brochure https://www.marketresearchfuture.com/sample_request/933

Eminent market players profiled in the global substation batteries market report include

• Johnson Controls Inc.
• GS Yuasa
• Robert Bosch GmbH
• Exide Technologies
• Saft Groupe S.A.
• Tesla
• Storage Battery Systems
• LLC and
• HBL Power Systems Ltd
• Among others.

The global substation batteries market is both fragmented & also competitive for the presence of numerous international and also domestic industry players. Such key players have incorporated various innovative strategies for remaining at the vanguard and also catering to the burgeoning need of the esteemed clients including, partnerships, contracts, collaborations, new product launches, geographic expansions, joint ventures, and more. Besides, they are also investing in numerous research & development activities.

COVID-19 Analysis

The COVID-19 outbreak has affected the worldwide economy and also disrupted the operations of different industries across the world which also includes the power industry. As per the Independent Commodity Intelligence Services, the availability of nuclear power in the EU is likely to remain consistent as various countries such as Germany and the UK have put in place several safety measures for guaranteeing the continuation of operations. This will be helpful for induction motors in the EU for generating power and distributing facilities like pumping stations, farmyards, or isolated houses. The lockdown orders however announced via the governments have affected the financial health of the power distribution companies. The daily power demand of India has reduced by 25% ever since the lockdown has been announced primarily driven by the closure of offices and factories in the industrial and commercial sectors. Distribution companies may have to incur high aggregate technical and commercial losses compared to the levels that have been specified via the regulators for the T&D losses that have been incurred are more than what was predicted earlier.

Browse In-depth Market Research Report (190 pages) on Substation Batteries Industry

https://www.marketresearchfuture.com/reports/substation-batteries-market-933

According to the US Energy Storage Association, globally about 40% of market players making batteries are likely to reduce their workforce for the effect of the pandemic, while about 50% are expecting reduced revenues. The power industry in the US may suffer from such reducing workforce as delays in the energy storage projects may result in disruptions in resiliency efforts and grid reliability. However, utilities are trying in incorporating the energy storage systems as power backup for preventing power cuts especially for healthcare facilities as well as other critical sectors. Energy storage projects may move forward yet project leaders are predicted to face shipping delays and disruption in supply line. These factors are likely to impact the battery energy storage market in the upcoming months as the battery production has been immensely affected via the outbreak. In fact this will bolster the substation batteries market that is a vital part of energy storage systems in the power distribution network.

Drivers

Cost Efficiency and Energy Efficiency to Boost Market Growth

The cost-efficiency of substation batteries will boost market growth over the forecast period. Also the energy-efficiency of substation batteries is another beneficial aspect of such technology. Together both these are fuelling market growth.

Opportunities

Prevalence of Power Failure to offer Robust Opportunities

The prevalence of power failure in substations is boosting the demand for substation batteries that in turn will offer robust opportunities for the market over the forecast period.

Restraints

Availability of Substitutes and Intense Competition to act as Market Restraint

The availability of cost-effective battery storage solutions such as lead-acid and ion lithium may act as a market restraint over the forecast period. Substation batteries have a lot of competitors that may impede market growth.

Challenges

Low Usable Capacity to act as Market Challenge

The low usable capacity of substation batteries may act as a market challenge over the forecast period. The substation battery can drain easily owing to the high power equipment in substations. The substation batteries' low capacity is a key market challenge. The battery life can drastically reduce in a short period.

Share your Queries https://www.marketresearchfuture.com/enquiry/933  

Regional Analysis

North America to Spearhead Substation Batteries Market

North America will spearhead the substation batteries market over the forecast period. The presence of several influential economies that boosts the demand for substation batteries, technological innovation, growth of developed industries, growth of key industry players on Canada & the US, the deployment of batteries in large scale companies to prevent power failure, & growing need for uninterrupted power supply are adding to the global substation batteries market growth in the region.

APAC to Have Favorable Growth in Substation Batteries Market

The APAC region will have favorable growth in substation batteries market over the forecast period. Rising industrialization, increasing commercialization that needs uninterrupted supply of power to enhance productivity, and the steadily rising economy of India and China are adding to the global substation batteries market growth in the region.

Segmentation of Market covered in the research:

Substation Batteries Market Research Report: Information by Type (Lead Acid Batteries (Sealed Batteries & Vented Batteries) and Nickel Cadmium Batteries), and Region (APAC, Europe, North America, South America, and Middle East & Africa) – Forecast till 2030

To Buy: https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=933   

Report Scope:

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

Follow Us: LinkedIn | Twitter

Contact:
Market Research Future ®
99 Hudson Street,5Th Floor
New York, New York 10013
United States of America

Phone:
+1 628 258 0071(US)  
+44 2035 002 764(UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com