Press release
Substation Batteries Market Share, Growth, Size, Demand, Key Player, Development Analysis Report and Forecast 2027
The rise in industrialization and urbanization are some of the factors contributing towards the growth of the substation batteries market during the forecasted period. The increase in demand for substation batteries is directly proportional to the need for electricity. Developing nations are making more use of substation batteries as they tend to face problems due to loss of power supply, which is also a reason for revenue loss. Hence, developing nations are promoting the market growth more than the developed nations. Advancement in technology used in substation batteries is creating newer opportunities for the market growth. However, alternative sources of power supply are restricting the market growth specifically in developed regions.
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Substation Batteries Market Top Key Players:-
Key players in this market include Johnson Controls Inc. (U.S.), Exide Technologies (U.S.), GS Yuasa (Japan), Robert Bosch GmbH (Germany), and Saft Groupe S.A. (France).
Industry News:-
In October, 2017 – Exide Technologies, a global provider of stored electrical-energy solutions for the transportation and industrial markets, has invested more than $35 million in a 180,000 sq. ft. state-of-the-art punched grid manufacturing site in Kansas City, Missouri. The grids produced in this new site will significantly enhance the production, quality and durability of Exide automotive batteries in North America and will add up to 50 new jobs to the Kansas City economy.
In May, 2017 – GS Yuasa Corporation announced that its container lithium-ion battery system with storage battery capacity of 6,750kWh was delivered to Kushiro Town Toritoushi Wildland Solar Power Plant, which started using the battery system on April 3, 2017. With the GS Yuasa product, the plant became Hokkaido Electric Power’s first mega-solar system installed with lithium-ion storage batteries made in Japan.
Substation Batteries Market – Segmentation
The scope of global substation batteries market is segmented into one major segments which are explained below:
By Type:
• Lead Acid Batteries
• Vented Batteries
• Sealed Batteries
• Nickel Cadmium Batteries
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Substation Batteries Global Market - Competitive Analysis
The global market for substation batteries is one of the most technological advance market. The substation batteries market appears to be highly fragmented due to the presence of many global, regional, and local vendors. Vendors in this market are facing financial losses and the continuous demand for upgrades and innovation is creating hurdles to their sustenance in the market. The rapid advances in technology, intense competition, frequent changes in government policies, and environmental regulations, are the key factors that challenge the growth of the vendors in this market space.
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