Press release
Substation Batteries Market Key Statistics on the State of the Industry Players like Johnson Controls Inc. , Exide Technologies ,Robert Bosch GmbH , and Saft Groupe S.A.
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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Industry News:-
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.
In April, 2017 – Johnson Controls Inc. invested $7.5 million in its battery plant on Wetmore Road in Northeast San Antonio. The investment is a part of a $245 million expansion to the company's battery plants in U.S. and Mexico, which was announced in 2016. The multi-industrial company announced it will make the investments to increase its capacity to produce absorbent glass mat, or AGM, batteries that are used in start-stop vehicle systems and that provide more power for modern vehicles.
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
Industry Top Key Players:-
Johnson Controls Inc. (U.S.), Exide Technologies (U.S.), GS Yuasa (Japan), Robert Bosch GmbH (Germany), and Saft Groupe S.A. (France) among others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global substation batteries market.
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Regional Analysis:-
Geographically, the global substation batteries market has been divided into North America, Europe, Asia Pacific and Rest of the World. The Asia-Pacific region holds the highest market share and is the largest revenue contributor of the substation batteries market. The region shall continue to dominate during the forecasted period because of increase in industrialization and rising demand of electricity. Due to frequent loss of power supply, more industries are opting for substation batteries as external power sources, hence boosting the market growth. Europe and North America region are also witnessing a steady market growth during the forecasted period. In addition, Middle East and Africa region is showing a considerable growth pattern of the substation batteries market.
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