Global Qualitative Analysis Energy Storage Market Research Report 2017

MarketResearchNest.com adds “Global Energy Storage Market 2017-2021” new report to its research database. The report spread across 90 pages with table and figures in it.
Research analysts forecast the global energy storage market for satellites to grow at a CAGR of 5.04% during the period 2017-2021.

About Energy Storage Market for Satellites
Energy storage is crucial to proper functioning of satellites and a major requirement in the global satellite industry. In a satellite, energy storage equipment is incorporated with solar PV panels to store energy harnessed by solar panels directly. However, harnessing and storing solar energy is applicable only when batteries are used. Fuel cells and other energy storage technologies are based on chemical reactions; therefore, they do not require solar panels for recharging.

Covered in this report

The report covers the present scenario and the growth prospects of the global energy storage market for satellites for 2017-2021. To calculate the market size, the report considers the revenue generated from the energy storage market for satellites.

Browse full table of contents and data tables at https://www.marketresearchnest.com/global-energy-storage-market-for-satellites-2017-2021.html

The market is divided into the following segments based on geography:
• Americas
• APAC
• EMEA

Technavio's report, Global Energy Storage Market for Satellites 2017-2021 , has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Technavio recognizes the following companies as the key players in the global energy storage market for satellites: EaglePicher Technologies, EnerSys, GS Yuasa Lithium Power, Mitsubishi Electric, and Saft

Other Prominent Vendors in the market are: FastCap Systems.

Commenting on the report, an analyst from Research team said: “The latest trend gaining momentum in the market is Development of microsatellites and next-generation batteries. Microsatellites can act as a resource to indirectly contribute to the functions of bigger satellites. These tiny satellites can be tailored as per the requirement of the mission. In 2015, a team comprising researchers from the Missouri University of Science and Technology focused its efforts to develop a microsatellite imagery for health monitoring of satellites with sensitive functions such as global security and weather monitoring.

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According to the report, one of the major drivers for this market is Declining Li-ion battery prices. The market for Li-ion batteries has been witnessing rapid growth. Owing to this, there has been a decline in the demand for other battery types. The factor that discriminates between Li-ion batteries and other energy storage technologies, such as fuel cells, is the price. However, leading vendors in the manufacturing of Li-ion batteries are working on technological advances and are trying to reduce the price of Li-ion batteries.

Further, the report states that one of the major factors hindering the growth of this market is Widening supply-demand gap for lithium. The global lithium market is facing a deficit of lithium, and this trend is expected to continue during the forecast period. This is owing to the tremendous demand from upcoming sectors such as EV, e-Bike battery, etc. According to the IEA, electric car stock increased from few hundreds in 2005 to more than 1 million in 2015. This led to increased lithium demand to produce Li-ion batteries for EVs, particularly because the battery type is more preferred by EV manufacturers. This sudden increase in demand resulted in a supply deficit in the global market.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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