Battery Market Will Witness Growth On Account Of High Demand For Automotive Application Till 2024: Grand View Research, Inc.

The global battery market is expected to reach USD 132.55 billion by 2024, according to a new report by Grand View Research, Inc. Majorly consisting of primary and secondary batteries, the growth will be attributed to growing demand for secondary batteries that are rechargeable on account of rising demand for smart gadgets and electronics such as tablets, smartphone and other portable devices including the digital camera and laptop.
Technological advancements in terms of cost reduction and enhanced efficiency are expected to open new avenues for the global market over the forecast period. Rising use in aircraft emergency systems in case of non-availability of APU’s for braking, ground operations and restarting the APU is expected to fuel high capacity battery demand. Low cost and high density of lead acid battery will encourage use in an emergency power supply and grid storage applications thus supplementing the market growth.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/battery-market

Further key findings from the report suggest:

·         Li-ion based batteries are expected to emerge as the most dominant segment owing to the growing demand in the automotive industry coupled with portable devices and electric power trains. The auto industry is experiencing high growth in plug-in hybrid and electric vehicles segment which is expected to propel demand. In addition, successful commercialization and lucrative incentives have been encouraging OEMs to introduce new hybrid and electric models in the market.

·         Ni–Cd batteries find applications in portables devices such as wireless & cordless telephones and emergency lighting, rising use for which will drive market demand. Growing application scope in railways for emergency braking, locomotive starting, air-conditioning, coach lighting and power for signaling will further propel growth.

·         Industrial application accounted for over 30.0% of the global market in 2015. The industrial application includes wheelchairs, golf carts, aviation, satellites, grid storage, forklifts and power tools. Rising energy requirements have resulted in increased use of storage applications on grid and off grid which has directly impacted demand for battery storage systems. Rapid industrialization in emerging economies of Asia Pacific and Latin America will utilize batteries in UPS devices, material handling systems, and power tools thus fueling market demand.

·         Asia Pacific dominated the global battery market with revenue over USD 23.00 billion in 2015 on account of the presence of a majority of manufacturers in Japan and South Korea. Budding consumer electronics industry in India, Malaysia, Singapore and Thailand is expected to result in high demand for lithium-ion batteries in the next eight years. Increasing automobile production in India and China is projected to propel demand for lead acid batteries in the near future. In addition, laxity for regulations in these countries regarding automotive emissions and fuel efficiency is expected to provide immense potential for market growth.

·         The global industry includes major conglomerates such as Hitachi, Sony, LG, Panasonic and GS Yuasa. Companies are moving towards lithium ion battery manufacturing owing to high potential in consumer electronics and electric vehicle market. Key companies are engaged in manufacturing of batteries with varying capacities suitable for different applications. Automotive Energy Supply Corporation and Panasonic are major shareholders in the lithium-ion electric vehicle segment. In February 2016, Johnson Controls Inc. made investments in its facility in Germany to improve its production capacity.

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Grand View Research has segmented the global battery market on the basis of product, application and region:
Battery Product Outlook (Revenue, USD Million, 2013 - 2024)

·         Lead Acid

·         Lithium ion

·         Nickel Metal Hydride

·         Nickel Cadmium

·         Others

Battery Application Outlook (Revenue, USD Million, 2013 - 2024)

·         Automobile

·         Industrial

·         Portable

Battery Regional Outlook (Revenue, USD Million, 22013 - 2024)

·         North America     

o    U.S.

·         Europe     

o    Germany

o    UK

·         Asia Pacific

o    China

o    Japan

·         Latin America

o    Brazil

·         MEA

Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/power-generation-and-storage

Wind Energy Foundation Market Will Grow Rapidly Owing To Rising Demand For Clean Energy Resources Till 2024: Grand View Research, Inc.

The global wind energy foundation market is expected to reach USD 241.14 billion by 2024, according to a new report by Grand View Research, Inc. Increasing concerns over depleting petroleum resources has resulted in influencing growing demand for renewable energy. Increasing global population and industrialization have become major factors for moving towards non-conventional resources.
Wind energy is gaining momentum over the past few years on account of major capacity additions owing to the declining prices. Recently there have been dramatic reductions in costs on account of increasing research and development. Growing demand for expansion of electricity generation and access is expected to be a major driver for the industry over the forecast period.
Climate change and global warming are major factors responsible for the increasing focus on wind power and harnessing this power for the future generations. The demand for wind energy foundation was USD 73.46 billion in 2015.Approximately 100 countries have managed to build several commercial wind farms.
Strong government initiatives and subsidies for the development of renewable energy is expected to be crucial factor for growth of the industry over the forecast period. The Paris agreement of 2015 was a major step in moving towards harnessing sustainable and clean energy.

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/wind-energy-foundation-market

Further key findings from the report suggest:

·         Offshore wind energy foundation segment is expected to witness revenue growth at a CAGR of 14.9% from 2016 to 2024. Offshore wind turbines have large power capacities and are now being installed even in deep water.

·         In the offshore category, mono-pile foundation accounted for 35.6% of the global market share in 2015 and it was the largest in offshore category. Increasing need to secure energy security and growing concerns about onshore wind farms is a major factor propelling expansion.

·         Onshore wind energy foundation market was valued at USD 52.01 billion. The onshore category has dominated the foundation market over the past several decades owing to reasonable cost for installation.

·         Asia Pacific market was valued at USD 27.45 billion in 2015 and will witness significant gains over the forecast period on account of continuous increase in installation capacity in countries such as China, India and Japan.

·         North America is a major market for foundations owing to the availability of best wind resources coupled with low prices as compared to other countries. Countries such as Brazil will open present new opportunities for propelling growth over the forecast period.

Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/renewable-energy

Grand View Research has segmented the global wind energy foundation market by site location and region:
Site Location outlook (Revenue, USD Million, 2013 - 2024)

·         Onshore

o    Mono-Pile

o    Jacket-Pile

o    Gravity

o    Suction

o    Tripod

·         Offshore

o    Raft

o    Pile

o    Well Foundation

o    Others

Regional Outlook (Revenue, USD Million, 2013 - 2024)

·         North America

o    U.S.

·         Europe

o    Germany

o    UK

o    France

·         Asia Pacific

o    China

o    India

o    Japan

·         Latin America

o    Brazil

·         Middle East & Africa (MEA)

For press release of this report - http://www.grandviewresearch.com/press-release/global-wind-energy-foundation-market

Advanced Energy Storage Systems Market Will Grow Rapidly Owing To Increasing Demand For Utility Scale Power Generation Till 2022

Global Advanced Energy Storage Systems Market is expected to reach USD 6.93 billion by 2022, according to a new study by Grand View Research, Inc. Increasing demand for utility scale power generation particularly during peak hours is expected to augment demand for advanced energy storage systems. Advanced energy storage systems efficiently manage energy resources thereby reducing the need for utility scale power generation plants. The above factor significantly helps in reducing fixed cost and is expected to play a key role in market growth over the forecast period.
Stringent regulatory framework governing the use of fossil fuels for power generation is also expected to act as a major driver for advanced energy storage systems market growth. Power plants generate significant quantities of GHG such as CO₂, which can be overcome through the efficient use of advanced energy storage systems. These systems store energy when generated and are capable of providing back up power in times of excess power demand (peak hours).

View summary of this report @ http://www.grandviewresearch.com/industry-analysis/advanced-energy-storage-systems-market

Further key findings from the study suggest:

·         Thermal energy storage systems were the largest technology segment in terms of installed capacity accounting for over 40% of global market in 2014. High efficiency in terms of energy storage and ability to provide power during peak hours in expected to play a major role in promoting market growth.

·         Battery storage devices market is still in a nascent stage and is expected to witness fastest growth at a CAGR of over 18% from 2015 to 2022. The market has large potential owing to easy charging properties and re-energization of the electrolyte liquid resulting in negligible wastage.

·         North America dominated the advanced energy storage systems market accounting for over 45% of global installed capacity in 2014. Stringent regulations with regards to environmental emissions are expected to result in increased installations of advanced energy storage systems, particularly in the U.S.

·         Asia Pacific is expected to be the fastest growing market for advanced energy storage systems at a CAGR of over 18% in terms of revenue from 2015 to 2022. Growing industrialization and improving consumer lifestyle has resulted in a surging need for energy which in turn is expected to augment advanced energy storage systems market in the region.

·         Advanced energy storage systems market is highly fragmented owing to the presence of numerous companies across multiple technologies. Owing to the technology driven nature of the market, key companies including AES Energy Storage, LG Chem, GE and Alevo are heavily investing into R&D to develop breakthrough technologies.

Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/power-generation-and-storage

For the purpose of this study, Grand View Research has segmented the global advanced energy storage systems market on the basis of technology and region:
Global Advanced Energy Storage Systems Technology Outlook (Capacity, Megawatt; Revenue, USD Million, 2012 - 2022)

·         Batteries

·         Flywheel

·         Thermal

·         Compressed Air

·         Molten Salt

Global Advanced Energy Storage Systems Regional Outlook (Capacity, Megawatt; Revenue, USD Million, 2012 - 2022)

·         North America

o    U.S.

·         Europe

o    Germany

o    UK

·         Latin America

o    Brazil

·         Asia Pacific

o    China

o    India

o    Japan

·         MEA

o    Saudi Arabia

For press release of this report - http://www.grandviewresearch.com/press-release/global-advanced-energy-storage-systems-market