Substation Batteries Market Research Report - Global Forecast to 2032

Substation Batteries Market Research Report Information By Type (Lead Acid Batteries (Sealed Batteries & Vented Batteries) And Nickel Cadmium Batteries), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2032

ID: MRFR/E&P/0428-HCR | 190 Pages | Author: Snehal Singh | March 2024         

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Global Substation Batteries Market Overview:


Substation Batteries Market Size was valued at USD 87.9 Billion in 2022. The Substation Batteries market industry is projected to grow from USD 95.92 Billion in 2023 to USD 192.81 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.12% during the forecast period (2023 - 2032). Rising demand for constant energy, and increasing electricity consumption & the need for new power plants are the key market drivers enhancing market growth.


Substation Batteries Market Overview


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Substation Batteries Market Trends




  • Growing need for reliable electricity sources is driving the market growth




Market CAGR for substation batteries is driven by the rising energy demand and rising need for uninterrupted power supply from businesses and commercial spaces to prevent power losses and boost productivity. Moreover, growing environmental worries about the depletion of conventional energy sources are projected to draw additional infrastructure expenditures to increase demand for substation batteries. Increased use of renewable energy sources alters the normal operating mode of the power grid, which in turn affects the performance of substation batteries and automation equipment. Switching to renewable energy sources can minimize short circuit currents and the protection system's insensitivity to this defect. Demand for substation batteries is expected to rise due to the issues mentioned above in the future.


Additionally, utilizing cutting-edge technology, substation automation helps cut operational and maintenance expenses while raising plant output. Its interlocking and smart load-shedding features further guarantee the electrical power network's excellent performance, dependability, and safety. Smart grids can decrease transmission and distribution losses, boost reliability and productivity, and efficiently and effectively control energy demand. The increasing need for electrical power, which should enhance sales of substation batteries, is largely attributable to industrial change in developing nations. Increasing product demand from various end-use sectors and rising energy demand will increase the substation batteries market. Therefore, the increasing prevalence of energy supply is fueling the expansion of the international market.


For instance, ABB has introduced a new member of the Relion product family to provide reliable, smart, and environmentally responsible electrification. The REX610 improves basic energy transmission applications by facilitating safety and control. As a result, the demand for substation batteries is predicted to grow throughout the forecasted time due to the rising demand for energy supply. Thus, the driving factor is the substation batteries market revenue.


Substation Batteries Market Segment Insights:


Substation Batteries Type Insights


The substation batteries market segmentation, based on type, includes lead acid batteries (sealed batteries & vented batteries) and nickel-cadmium batteries. In 2022, the lead-acid batteries category is anticipated to increase at a CAGR of 9.12% over the projected period, making up the largest market share. Due to its proven reliability and technological maturity, the lead-acid battery finds widespread application in substation applications. The desire for constant electricity in the commercial and industrial sectors is the primary driver of the substation battery industry. The market for substation batteries is expanding because of the increased need for reliable and consistent power supply in industrial and commercial settings.


Figure 1: Substation Batteries Market by Type, 2022 & 2032 (USD Billion)


Substation Batteries Market by Type, 2022 & 2032 (USD Billion)


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Substation Batteries Regional Insights


By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American substation batteries market will dominate because of technological advancements. The substation battery market in North America is expected to increase as to the increasing number of businesses installing backup power sources in case of an outage, the modernization of the nation's electrical infrastructure, and the switch to solar power. Having so many established businesses in this sector has also helped to lure investors regarding developed infrastructure.


Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 2: Substation Batteries Market Share By Region 2022 (USD Billion)


Substation Batteries Market Share By Region 2022 (USD Billion)


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Europe’s substation batteries market accounts for the second-largest market share because the region's electrical infrastructure investment has enhanced significantly in recent years, increasing the use of electric vehicles and encouraging public transit to cut down on pollution by using electric cars. The demand for substation batteries in Europe is projected to be bolstered by automakers and governments helping to fund the installation of EV charging stations. Further, the German substation batteries market held the largest market share, and the UK substation batteries market was the fastest-growing market in the European region.


The Asia-Pacific substation batteries market is expected to grow at the fastest CAGR from 2023 to 2032 due to the increasing need for reliable electricity sources and increasing public understanding of renewable energy sources. In addition, increasing commercialization and industrialization necessitate a constant flow of electricity to maintain production. Moreover, China’s substation batteries market held the largest market share, and the Indian substation batteries market was the fastest-rising market in the Asia-Pacific region.


Substation Batteries Key Market Players & Competitive Insights


Leading market players are investing heavily in research and development to expand their product lines, which will help the substation batteries market grow even more. There are some strategies for action that market participants are implementing to increase their presence around the world's footprint, with important market developments including new product launches, contractual agreements and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the substation batteries industry must offer cost-effective items.


Manufacturing locally to minimize operational costs is one of the key business tactics manufacturer use in the substation batteries industry to benefit clients and increase the market sector. In recent years, the substation batteries industry has offered some of the most significant technological advancements. Major players in the substation batteries market, including Johnson Controls Inc., Exide Technologies, GS Yuasa, Robert Bosch GmbH, Saft Groupe S.A., Storage Battery Systems LLC, Tesla, HBL Power Systems Ltd., and others, are attempting to grow market demand by investing in research and development operations.


At Johnson Controls, we transform the environments where people live, work, study, and recreation. When it comes to intelligent, healthy, and environmentally friendly structures, the world looks to us, and we aim to reinvent how buildings operate to benefit people, places, and the environment. Through OpenBlue, our all-encompassing digital solution, we give the future's blueprint for industries like healthcare, education, data centers, airports, stadiums, manufacturing, and more. We do this by relying on a rich history of nearly 140 years of creation. With a staff of 100,000 specialists working in more than 150 countries, Johnson Controls today provides the widest selection of building technology and software available anywhere in the globe and service solutions from some of the most reputable brands in the industry. In March 2023, Johnson Controls, the industry pioneer for intelligent, healthy, and sustainable buildings, introduced the YORK® YLAA Air-Cooled Scroll Chiller, the first free-cooling screw chiller in the U.S. to use R-1234ze refrigerant, and the YORK® YVFA Free-Cooling, Variable-Speed Screw Chiller, the first free-cooling screw chiller in the world to use R-454B.


Saft is a fully owned subsidiary of TotalEnergies with competence in high-technology battery solutions for industry, from research and development to production, customization, and service delivery. Saft's longer-lasting batteries and systems have given our customers essential propulsion, backup power, and safety applications for more than a century. Our state-of-the-art, secure, and trustworthy technology delivers high performance at sea, in the air, and in space. Saft provides vital backup functions in remote locations like the Sahara Desert and Arctic Circle, enabling business and smarter cities. In February 2022, TotalEnergies inaugurated France's largest battery-based energy storage facility. At the Flandres center in Dunkirk, this project, which satisfies the requirement for grid stabilization, can generate 61 MW of power and store a total of 61 megawatt hours (MWh). It was developed and assembled by Saft, a battery branch of TotalEnergies that specializes in creating advanced industrial batteries and comprises 27 2.5 MWh containers.


Key Companies in the Substation Batteries Market include



Substation Batteries Industry Developments


May 2023: GS Yuasa Corporation has developed a technology that addresses several practical issues and improves energy density and extended service life. We achieved a high energy density of 400 Wh/kg with this technique, which is higher than typical lithium-ion batteries. With an energy density retention rate of over 90% after 200 cycles and a retention rate of over 85% after 300 cycles, we also confirmed that this technique could manufacture batteries with excellent charge-discharge cycle life performance. 


March 2023: Johnson Controls, a world leader in smart, healthy, and sustainable buildings, has launched the new IQ Pro Hybrid Security Panel, which is specifically made for intrusion prevention in commercial buildings, large residential complexes, campuses, and K-12 sectors. The IQ Pro includes an extensive range of devices for life safety and security, supports PowerG's advanced sensor technology, and has an unmatched wireless range in the industry.


April 2023: Bosch engineering and Ligier Automotive have joined to forge a strategic cooperation to develop high-performance hydrogen engine vehicles. A demonstration vehicle based on the Ligier JS2 R is being built as part of the collaboration efforts. The hydrogen-powered Ligier JS2 RH2 will be equipped with a novel type of carbon monocoque that features three integrated hydrogen tanks, in contrast to the production model.


Substation Batteries Market Segmentation


Substation Batteries Voltage Outlook



  • Lead Acid Batteries (Sealed Batteries & Vented Batteries)

  • Nickel Cadmium Batteries


Substation Batteries Regional Outlook



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America



Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 87.9 Billion
Market Size 2023 USD 95.92  Billion
Market Size 2032 USD 192.81 Billion
Compound Annual Growth Rate (CAGR) 9.12% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Type and Region
Geographies Covered North America, Europe, Asia Pacific, Aircraft Type, and the Rest of the World
Countries Covered The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Johnson Controls Inc., Exide Technologies, GS Yuasa, Robert Bosch GmbH, Saft Groupe S.A., Storage Battery Systems LLC, Tesla, and HBL Power Systems Ltd.
Key Market Opportunities · Developments in technology and the adoption of digitalization methods
Key Market Dynamics · Increased industrialization and its accompanying rapid growth




Frequently Asked Questions (FAQ) :

The substation batteries market size was valued at USD 87.9 Billion in 2022.

The market is projected to grow at a CAGR of 9.12% during the forecast period, 2023-2032.

The key players in the market are Johnson Controls Inc., Exide Technologies, GS Yuasa, Robert Bosch GmbH, Saft Groupe S.A., Storage Battery Systems LLC, Tesla, and HBL Power Systems Ltd.

The lead acid batteries type category dominated the market in 2022.

The innovative technology had the largest share of the market.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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