The global substation battery market is anticipated to grow at a significant CAGR of nearly 9.8% during the forecast period. The major factors that drive the growth of the market include the implementation of e-mobility across the globe for public transportation, and promoting e-vehicle along with building battery charging station infrastructure is projected to drive the substation battery market. For instance, in January 2022, IREDA launched a new program to promote the manufacture and deployment of infrastructure for emerging technologies, charging infrastructure, and green mobility in this project substation battery is required. Hence lead to market growth.
Get Free Sample link @ https://www.omrglobal.com/request-sample/substation-battery-market
Another factor includes the increasing prevalence of power failure in substations is boosting the demand for substation batteries, which in turn will offer robust opportunities for the market over the forecast period. For instance, as per the NITI Aayog 2021 report, In Delhi, TPDDL has installed a 10 MWh battery bank commissioned by AES and Mitsubishi in 2019 at the substation level.125 the battery bank is capable of applications ranging from peak load management, frequency regulation to system flexibility. It allows to balance distributed energy resources including RTS. Moreover, the battery life can be drastically reduced in a short period. However, the low usable capacity of the substation batteries acts as a market challenge.
full report of Global Substation Battery Market available @ https://www.omrglobal.com/industry-reports/substation-battery-market
- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Global Substation Battery Market Report Segment
By Battery type
- Nickel Cadmium Battery
- Lead Acid Battery
- Sealed Lead Acid Battery
- Vented Lead Acid Battery
- Others
By Application
- Residential and Commercial
- Industrial
- Utilities
- Others
Global Substation Battery Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global Substation Battery market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/substation-battery-market
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404
