The rising demand for uninterrupted power supply is a crucial factor predicted to spur growth opportunities for the substation battery market, says Fortune Business Insights™ in a report titled “Substation Battery“ Market Size, Share & Industry Analysis, By Type (Nickel Cadmium Battery, Lead Acid Battery, Others), By Application (Residential & Commercial, Industrial, Utilities) and Regional Forecast, 2019-2027” the increasing adoption of e-vehicle and e-mobility is predicted to accelerate the substation battery market growth during the forecast period.
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According to the report, based on type, the substation battery market is classified into the lead-acid battery, nickel-cadmium battery, and others. The lead-acid battery is predicted to account for maximum share in the market owing to its extensive use in substation because of its reliable performance and matured technology. Based on application, the market is classified into residential & commercial, industrial and utilities. The industrial and commercial sector is likely to witness high growth during the forecast period owing to the rising demand for uninterrupted power supply.
Some of the Major Companies in the Substation Battery Market Include:
- Exide Technologies
- GS Yuasa International Ltd.
- Robert Bosch GmbH
- Johnson Controls
- Amara Raja Group
- Luminous Power Technologies (P) Ltd
- Trojan Battery Company
- Exide Industries
- SolarEdge Technologies
- HBL Power Systems Ltd.
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/substation-battery-market-101494
The report on the substation battery market focuses on illustrating a comprehensive assessment of the market and contains facts, thoughtful insights, historical information, industry-validated market information, and projections with a suitable set of assumptions and methodology. It offers revealing insights into all the significant developments of the market. It shares a complete overview of all the segments & parts of the market and also provides statistical data on all the regions. It is put together after extensive research, followed by an all-encompassing analysis to benefit companies, stakeholders, financers, and potential investors. Moreover, it also includes product launches, acquisitions, collaborations & partnerships, and industry developments.
However, the rising popularity of generators owing to their wide range of high voltage application and reliability compared to substation battery is a factor to restrict the growth of the market in the forthcoming years. Additionally, the performance of the battery degrades over the years which negatively impacts the longevity of the battery and limits the growth of the substation battery market.
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Rising Technological Advancement to Facilitate Growth in North America
Geographically, the substation battery market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Rising technological advancement is predicted to augment the growth of the market in North America. Deployment of batteries in large scale companies to avoid power failure and increasing demand for uninterrupted power supply is expected to bolster the growth of the substation battery market in North America. The increasing adoption of e-mobility for public transportation and the rising popularity of e-vehicle to mitigate the growing GHG emission is predicted to boost the substation battery market revenue. Asia Pacific is anticipated to dominate the substation battery market owing to rising industrialization and commercialization. The steadily rising economy of China and India is also predicted to contribute to the growth of the substation battery market. The substation battery market in MEA is expected to grow at a considerable rate due to lack of infrastructure, low-level income, limited industrial scope which inhibits growth opportunities.
Key Segmental Overview:
- By Type
- By Application
- By Geography
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Major Table of Content For Substation Battery Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Substation Battery Market Analysis, Insights and Forecast, 2027
- North America Substation Battery Market Analysis, Insights and Forecast, 2027
- Europe Substation Battery Market Analysis, Insights and Forecast, 2027
- Asia Pacific Substation Battery Market Analysis, Insights and Forecast, 2027
- Middle East and Africa Substation Battery Market Analysis, Insights and Forecast, 2027
- Latin America Substation Battery Market Analysis, Insights and Forecast, 2027
- Competitive Landscape
- Company Profile
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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