📞 +1 628 258 0071(US)  📞 +44 2035 002 764(UK)
Substation Batteries Market Research Report - Global Forecast to 2030

Substation Batteries Market Research Report: Information by Type (Lead Acid Batteries (Sealed Batteries & Vented Batteries) and Nickel Cadmium Batteries), and Region (APAC, Europe, North America, South America, and Middle East & Africa) – Forecast till 2030

ID: MRFR/E&P/0428-HCR | February 2021 | Region: Global | 190 pages

Substation Batteries Market Speak to Analyst Request a Free Sample

Substations Batteries Market Overview 

Substations Batteries Market Size will grow at a CAGR of 9.12% in the forecast period (2022-2030).

The substation batteries are crucial in the stored energy operations. They are mainly used in the substation relays and control. These substation batteries are chargeable through self-regulated batteries that can regulate the DC bus voltage. The battery bank failure is a significant challenge in the substation batteries market. However, the substation batteries are an integral part of the substation in these critical times.

Most of the electric utilities associated with the station may not trip. The backup devices such as power transformers or main breakers will not function. At these times, substation batteries can provide a power supply to the bus DC. Also, substation batteries can offer AC supply and work at times of battery charger failure. The need for stable supply in electric utilities raises the demand for the market. The prevalent electricity problems are creating more opportunities for the global market.  Also, the global Market Value is projected to be tremendous for the forecast period. 

Covid Analysis 

The covid 19 has an immense impact on the global industries. The businesses are suffering from economic recession during this period. The substation batteries market is facing few challenges during this period. The demand from the key verticals has reduced for the market. Further, the decline in substation batteries production is affecting the demand and supply. Also, the global lockdown restriction is causing supply chain disruptions for the market. The declining effects in the power industry are affecting the market. All these factors are negatively changing the Market Outlook. However, the market operations will gradually turn to normal post-covid 19. 

Key Players 

  1. HBL Power Systems Ltd

  2. Johnson Controls

  3. Tesla

  4. Exide Technologies

  5. Storage Battery Systems

  6. Robert Bosch GmbH

  7. Saft Groupe 

Market Dynamics 

  • Crucial market drivers 

The cost and expenditure play a major role in determining the success of any industry. The need for cost-competitive energy storage solutions is driving the demand for the substation batteries market. The power industry has plenty of price fluctuation challenges. The power supply expenditure is prone to fluctuation whether less or more price. However, the use of substation batteries provides a consistent power supply to the substation in any situation. The price or the expenditure is reasonable when using it as a backup electricity source.

Further, the rising investments in the global market are another driver for the market. The benefits and operations of the substation batteries are wide. These factors encourage the markets to invest a lot in the substation market. The substation operation is crucial for DC bus and other operations. The power failure in this operation can cause plenty of difficulties for the market. Hovered, this rising need for constant power supply is another market driving factor for the market. All these factors contribute to the high profitability and demand for the Substation Batteries Industry in the forecast period. 

  • Market growth opportunities 

The substation batteries have massive demand from different end-users. The power industry, the data centres and other industrial spaces require this technology. The power disruption in any market can result in plenty of market inconsistencies. Also, power disruptions can reduce the productivity of any company. To avoid these issues most of the commercial companies and industries choose the sustain arteries.

Also, the power disruptions are expected to grow more in the future. It is offering plenty of growth opportunities for the substation batteries market. The need for power backup technology will rise in the upcoming years. It is another factor that will provide Market Growth opportunities. The adoption and installation rate of substation batteries will further increase in upcoming years. All these factors provide promising growth possibilities for the market. 

  • The market restraints

The substation batteries rate the most cost-effective back energy solution. However, the substation batteries have plenty of competitors. There are ion lithium and lead-acid and other costs effective battery storage solutions in the market. The other exceptional battery technologies create massive completion in the market.

Today, most companies prefer cost-effective batteries, high performance and hybrid applications. The substation batteries lack some of these features. The other low-cost alternatives are crucial restrains. More innovation and cost-effectiveness can decline the demand for substation batteries. 

  • The market challenges 

The usable capacity of the substation batteries is low. The substation battery can easily drain due to the high power equipment in the substations. The low capacity of the substation batters acts as a major challenge to the market. The life of the battery can drastically reduce within a short period. Also, this inefficiency of the battery is a limitation in the market. The energy wastage rate in the battery is higher than its competitors. All these reactors can affect the demand and growth of the substation batteries market in the forecast period. 

  • Cumulative growth analysis 

The growth trend of the substation batteries will expect steady growth in the forecast period. The cost-efficiency of the substation batteries is a crucial driver for the market. Further, energy efficiency is another advantageous aspect of this technology. These two factors will propel the demand for the market in the forecast period. The prevalence of power failure in the substation is increasing the requirement for substation batteries. All these are responsible for the positive Market Trends.

However, there is a serious need to fix the challenges in the market. The launch and high investments in alternate batteries is a threat to the market. There are effective alternates for the substation batteries. The lithium and lead batteries can work for more hours, with more performance and for hybrid applications. There is a need to make product enhancements in the market. However, these factors will have a slight effect on the market. 

  • The value chain analysis 

The Asia Pacific leads the highest Substation Batteries Market Share. The cost-effectiveness of the substation batteries is causing massive demand in the Asia Pacific region. Also, the developments in the Asia Pacific market are expected to be revolutionary. China, India, Indonesia, Japan and are the key contributors to the Asia Pacific market. The requirement for an efficient energy storage solution is high in Asia pacific. The public electricity network is a crucial sector that has a high demand for substation batteries. The adoption rate and expansion rate in this region will grow higher in the forecast period. Also, Asia Pacific will record the high demand rate for the market. 

Segment Overview 

By type 

  • Lead Acid Batteries

    • Sealed Batteries

    • Vented Batteries

  • Nickel Cadmium Batteries

By region 

  • North America 

  • Asia pacific 

  • Europe 

Competitive Analysis 

The substation batteries market is highly competitive. There are other efficient batteries such as lead-acid, lithium-ion and more. Also, these alternatives create more completion in the market. The key players of the market are making massive investments in substation batteries. It will lead to more innovation, high-end operation and hybrid applications. 

Regional Analysis 

The substation batteries market has three main regions such as Europe, North America and Asia pacific. The Asia Pacific market will dominate the other market. The Asia Pacific has the highest demand for substation energy backup solutions. The substation batteries are the cost-effective technologies available for this purpose.

Also, the investments in this market will grow considerably in the upcoming years. The market expansion rate is going to be high in the Asia Pacific market. Further, North America is the second-largest market. The demand from industries is high in this region. Also, the investment power is higher in North America. Europe is the next-largest substation batteries, shareholder. The demand from public electric utilities is higher in this region. All these regional players play a crucial role in the high demand and profitability rate of the global market. 

Recent Developments 

  1. The key players of the market are increasing substation batteries production. Especially, the key players are increasing the supply for the aerospace and defence sector. In the upcoming years, the substation batteries market will expect more demand from these segments. 

  1. The key players are introducing high-temperature substation batteries. These batteries are essential in the medical sector. 

  1. The key players are increasing the production of sensation batteries for small offices. The requirement in small offices is higher in the forecast period. 

  1. The key players are increasing the supply of substation batteries for the automotive sector. 

Report Overview 

  1. Market overview highlights 

  2. Analysis based upon COVID 19

  3. Explanation upon the Market Dynamics

  4. Value chain analysis

  5. Market segmentation overview

  6. The regional analysis

  7. Competitive landscape analysis

  8. Recent Developments

Report Scope:
Report Attribute/Metric Details
  Market Size   2030: Significant Value
  CAGR   9.12% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Johnson Controls Inc., Exide Technologies, GS Yuasa, Robert Bosch GmbH, Saft Groupe S.A., Storage Battery Systems, LLC, Tesla, and HBL Power Systems Ltd.., among others.
  Key Market Opportunities   New product launches and R&D Amongst major key Players
  Key Market Drivers

  • Increasing need for continuous power
  • Growing demand for electricity and power generation capacity

  • Speak to Analyst Ask for Customization

    Frequently Asked Questions (FAQ) :

    The substation batteries market can thrive at 9.12% CAGR between 2022 and 2030.

    The substation batteries market can attain a considerable valuation by 2030.

    Saft Groupe S.A., Tesla, Storage Battery Systems, LLC, and HBL Power Systems Ltd are some major players of the substation batteries market.

    The continuous need for electricity supply can boost the substation batteries market growth.

    MRFR study states that the North America substation batteries market can generate high profits by 2023.