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European Utility Battery Market
Frost & Sullivan, Dec 2010, Pages: 73
This study discusses the market potential of batteries used for utility applications in the Western European region. This study includes the market trends, revenue forecasts, market and technology trends for the different battery chemistries that are used for utility applications. This study also speaks about the trends among Western European countries that lead to a higher demand for batteries for utility applications. Insight and analysis is also provided for the major participants developing utility batteries for the European region.
This research service titled European Utility Battery Market provides an in-depth analysis of the overall market growth, revenues, key market participants, competitive structure, industry challenges, market drivers and restraints and pricing trends. In this research, Frost & Sullivan's expert analysts thoroughly examine the following battery chemistries: lead acid, sodium sulfur, lithium-ion, nickel cadmium and flow batteries. It also examines the following applications: conventional electric utility and renewable energy generation.
Market Overview
Government Initiatives and Renewable Energy Storage Power Utility Batteries’ Market Growth
Governments in western Europe that are eager to reduce carbon dioxide emission and increase renewable energy contribution have implemented robust policies that favour energy storage methods. Their endeavours to achieve permissible emission levels have created a need for better energy management that, in turn, has led to higher demand for batteries in utilities. Although Europe generates sufficient energy, the quality of power leaves much to be desired. The frequent surges, dips and interruptions have made a strong case for utility batteries, particularly in the back-up and grid stabilization applications in smart grids. “The increasing importance as well as need to install and implement micro grids and smart grids stokes demand for utility batteries,” says the analyst of this research. “Utility batteries, uniquely, can make it viable to implement smart grids and develop infrastructure for charging electric vehicles.”
Batteries could also help utilities save costs by lowering the need to construct a new generation plant. Additionally, batteries aid efficient handling of power, which reduces fuel consumption. Currently, lead acid batteries are the only affordable chemistries; however, their energy density and performance come up short when compared with other chemistries. On the other hand, the efficient chemistries are too expensive for widespread adoption. Scientists have not yet developed a chemistry that can be applied across all applications in utilities, and this translates to higher investments by end users. Once they refine and expand the scope of their technologies, market participants can make the most of the demand from the western European countries that wish to increase power generation through environment-friendly renewable sources. Utilities will need batteries to store the generated energy and feed-in to the grid. “Furthermore, the sophisticated electronic gadgets and technically advanced lifestyles in these countries hike the demand for electricity,” notes the analyst. “Utility batteries cater to this demand by facilitating efficient energy management and enhanced generation.”
Market Sectors:
Expert analysts thoroughly examine the following market sectors in this research:
By Battery Chemistry
- Lead acid
- Nickel cadmium
- Sodium sulfur
- Lithium-ion
- Flow batteries
By Application
- Conventional electric utility
- Renewable energy generation
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