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Utility Battery Market 2019-2023 | Evolving Opportunities With BYD Company Ltd. and Kokam | Technavio

November 6, 2019
Utility Battery Market 2019-2023 | Evolving Opportunities With BYD Company Ltd. and Kokam | Technavio
Utility Battery Market 2019-2023 | Evolving Opportunities With BYD Company Ltd. and Kokam | Technavio

LONDON--(BUSINESS WIRE)--Nov 5, 2019--

Technavio has been monitoring the global utility battery market, and the market is poised to grow by 969.72 MW during 2019-2023, decelerating at a CAGR of over 7% during the forecast period. Request Free Sample Pages

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Technavio has announced its latest market research report titled global utility battery market 2019-2023. (Graphic: Business Wire)

Read the 119-page research report with TOC on “Utility Battery Market Analysis Report by technology (lithium-based batteries, sodium-based batteries, and others) by Geography (Americas, APAC, Europe, and MEA), and Segment Forecasts, 2019 - 2023”.

The market is driven by the rising adoption of renewables. Also, the increased adoption of microgrids is anticipated to boost the growth of the utility battery market further.

There is an increase in the demand for renewable energy resources for generating electricity because the use and combustion of fossil fuels lead to GHGs emissions. However, the intermittent nature of power that is generated from renewable energy resources such as biomass, solar, and wind is driving the need for energy storage systems. This is increasing the demand for battery energy storage solutions in both utilities and off-grid locations. Thus, the rising adoption of renewables is expected to drive market growth during the forecast period.

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Major Five Utility Battery Market Companies:

BYD Company Ltd.

BYD Company Ltd. is headquartered in China and operates the business under various segments such as Automobiles and related products; Mobile handset components and assembly service; and Rechargeable batteries and photovoltaic business. The company provides microgrid systems for utilities.

Kokam

Kokam is headquartered in South Korea and offers products such as Kokam Containerized, Energy Storage System (KCE), and Kokam All in One series. The company has launched a new line of Li-ion high power UPS battery racks, which is named K-UPS.

LG Chem

LG Chem is headquartered in South Korea and has business operations under various segments, namely Basic materials & Chemicals, Energy solutions, IT & Electronic materials and Advanced materials, Life sciences, and Common and others. The company provides efficient energy solutions for utilities.

NGK INSULATORS, LTD.

NGK INSULATORS, LTD. is headquartered in Japan and offers services through the following segments: Power, Ceramics, Electronics, and Process Technology. The company provides NAS battery ESS, which is a large-scale battery system with many advantages such as high power and long-life expectancy.

SAMSUNG SDI CO. LTD.

SAMSUNG SDI CO. LTD. is headquartered in South Korea and offers services through the following business segments: Energy solutions and Electronic material. The company provides Energy Platform, which is an ESS platform with high energy density.

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Utility Battery Technology Outlook (Revenue, USD Million, 2019 - 2023)

Utility BatteryRegional Outlook (Revenue, USD Million, 2019 - 2023)

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.Request a free sample report

Related Reports on Utilitiesare:

Battery Separator Market – Battery Separator Market by type (lithium-ion battery, lead-acid battery, and others) and geography (the Americas, APAC, and EMEA).

Advanced Lead-acid Battery Market – Advanced Lead-acid Battery Market by geography (the Americas, APAC, and EMEA), application (automotive, stationary, and others).

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191105005947/en/

CONTACT: Technavio Research

Jesse Maida

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Website:https://www.technavio.com

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INDUSTRY KEYWORD: CHEMICALS/PLASTICS MANUFACTURING

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 11/05/2019 08:00 PM/DISC: 11/05/2019 08:01 PM

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