Global Substation Battery Market Size, Trends, and Growth Opportunity, By Type (Nickel Cadmium Battery, Lead Acid Battery, Sealed Lead Acid Battery, Vented Lead Acid Battery, and Others), By Application (Residential and Commercial, Industrial, Utilities, and Others), By Region and Forecast to 2030.
Report ID : IR1002390 | Industries : Energy & Power | Published On :June 2024 | Page Count : 212
Global Substation Battery Market Size, Trends, and Growth Opportunity, By Type (Nickel Cadmium Battery, Lead Acid Battery, Sealed Lead Acid Battery, Vented Lead Acid Battery, and Others), By Application (Residential and Commercial, Industrial, Utilities, and Others), By Region and Forecast to 2030.
Global Substation Battery Market
The Global Substation Battery Market was valued at USD 86 billion in 2022 and is expected to reach USD 105 billion by 2030, at a CAGR 2.08% during the forecast period 2023- 2030.
A particular kind of energy storage power plant uses a collection of batteries to store electrical energy. The most responsive power source on grids, battery storage helps to keep grids stable. Battery storage power plants are typically built to operate between one and several hours at full-rated power. As of 2019, pumped storage power plants, are the most prevalent type of grid energy storage, with a maximum power that is an order of magnitude more than battery storage power plants. The greatest battery power plants have storage capacities that are roughly two orders of magnitude lower than those of pumped hydro facilities.
Market Drivers
Cost and energy-saving measures will promote market expansion during the forecast period. Throughout the projection period, market growth will be aided by substation batteries' low cost. Another advantageous feature of this technology is the energy efficiency of substation batteries. Together, these two are promoting market expansion.
Market Restraints
The presence of alternatives and fierce competition will restrain the market expansion in the coming years. The availability of reasonably priced battery storage options including lead-acid and lithium-ion batteries could constrain the market. There are numerous rivals for substation batteries, which can prevent market expansion.
COVID 19 Impact
The COVID-19 outbreak has had an impact on the global economy and impacted business operations in several sectors, including the power sector. According to the Independent Commodity Intelligence Services, given that numerous nations, like Germany and the UK, have implemented several safety measures to ensure the continuation of operations, the availability of nuclear power in the EU is likely to remain consistent. This will be beneficial for induction motors in the EU that generate and distribute electricity to buildings like pumping stations, farmyards, or remote homes. The financial stability of the electricity distribution firms has been impacted by the lockdown orders, notwithstanding their government-issued announcement.
Market Segmentation
The Global Substation Battery Market is segmented into Type and Application.
Based on Type, the market is classified into Nickel Cadmium Battery, Lead Acid Battery, Sealed Lead Acid Battery, Vented Lead Acid Battery, and Others.
Based on Application, the market is divided into Residential and Commercial, Industrial, Utilities, and Others.
Regional Analysis
The Global Substation Battery Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
North America will lead the market for substation batteries. The growth of developed industries, the expansion of key industry players in Canada and the US, the deployment of batteries in large-scale businesses to prevent power failure, and the expanding demand for uninterrupted power supply are all factors that are contributing to the global substation batteries market in the region.
Over the coming years, the market for substation batteries will increase favorably in the APAC region. Growing commercialization, which requires an uninterrupted power supply to increase productivity, as well as developing economies in China and India are all contributing to the expansion of the worldwide substation batteries market in the area.
Key Players
Various key players are discussed in the Global Substation Battery Market Report including: Exide Technologies, GS Yuasa International Ltd., Saft, Robert Bosch GmbH, Johnson Controls Inc., GS Yuasa, Robert Bosch GmbH, and Saft Groupe S.A.
Market Taxonomy
By Type
• Nickel Cadmium Battery
• Lead Acid Battery
• Sealed Lead Acid Battery
• Vented Lead Acid Battery
• Others
By Application
• Residential and Commercial
• Industrial
• Utilities
• Others
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
Global Substation Battery Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Substation Battery Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to recent Energy Crisis
4.2.5 Cumulative Impact due to nearing economic downturn
4.2.6 Post covid-19 world Supply & Demand conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Substation Battery Market, By Type
5.1 Y-o-Y Growth Comparison, By Type
5.2 Global Substation Battery Market Share Analysis, By Type
5.3 Global Substation Battery Market Size and Forecast, By Type
5.3.1 Nickel Cadmium Battery
5.3.2 Lead Acid Battery
5.3.3 Sealed Lead Acid Battery
5.3.4 Vented Lead Acid Battery
5.3.5 Others
6 Global Substation Battery Market, By Application
6.1 Y-o-Y Growth Comparison, By Application
6.2 Global Substation Battery Market Share Analysis, By Application
6.3 Global Substation Battery Market Size and Forecast, By Application
6.3.1 Residential and Commercial
6.3.2 Industrial
6.3.3 Utilities
6.3.4 Others
7 Global Substation Battery Market, By Region
7.1 Global Substation Battery Market Share Analysis, By Region
7.2 Global Substation Battery Market Size and Forecast, By Region
8 North America Substation Battery Market Analysis and Forecast (2023-2030)
8.1 Introduction
8.2 North America Substation Battery Market Share Analysis, By Type
8.3 North America Substation Battery Market Size and Forecast, By Application
8.4 North America Substation Battery Market Size and Forecast, By Country
8.4.1 U.S.
8.4.2 Canada
8.4.3 Mexico
9 Europe Substation Battery Market Analysis and Forecast (2023-2030)
9.1 Introduction
9.2 Europe Substation Battery Market Share Analysis, By Type
9.3 Europe Substation Battery Market Size and Forecast, By Application
9.4 Europe Substation Battery Market Size and Forecast, By Country
9.4.1 Germany
9.4.2 France
9.4.3 UK
9.4.4 Rest of Europe
10 Asia Pacific Substation Battery Market Analysis and Forecast (2023-2030)
10.1 Introduction
10.2 Asia Pacific Substation Battery Market Share Analysis, By Type
10.3 Asia Pacific Substation Battery Market Size and Forecast, By Application
10.4 Asia Pacific Substation Battery Market Size and Forecast, By Country
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4 Rest of Asia Pacific
11 Latin America Substation Battery Market Analysis and Forecast (2023-2030)
11.1 Introduction
11.2 Latin America Substation Battery Market Share Analysis, By Type
11.3 Latin America Substation Battery Market Size and Forecast, By Application
11.4 Latin America Substation Battery Market Size and Forecast, Country
11.4.1 Brazil
11.4.2 Rest of Latin America
12 Middle East Substation Battery Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 Middle East Substation Battery Market Share Analysis, By Type
12.3 Middle East Substation Battery Market Size and Forecast, By Application
12.4 Middle East Substation Battery Market Size and Forecast, By Country
12.4.1 Saudi Arabia
12.4.2 UAE
12.4.3 Egypt
15.4.4 Kuwait
12.4.5 South Africa
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14Company Profiles
14.1 Exide Technologies
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2 GS Yuasa International Ltd.
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3 Saft
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 Robert Bosch GmbH
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 Johnson Controls Inc.
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 GS Yuasa
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 Robert Bosch GmbH
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 Saft Groupe S.A
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies