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Substation Batteries Market Size

ID: MRFR//0428-HCR | 190 Pages | Author: Snehal Singh| June 2024

The role of the substation batteries’ dynamics in shaping energy infrastructure landscape cannot be overemphasized. Power grids have their most crucial components in the form of substation batteries which provide standby power and stabilize voltage fluctuations. Understanding the market dynamics involves studying a number of issues that affect their demand, supply and technology.

Firstly, there is increasing focus on renewable energy integration which boosts demand for substation batteries. Solar power and wind power are gradually being embraced as alternative sources of powering our homes and industries, thus pushing for reliable storage means for such energies. Sub-station batteries come in handy when it comes to storing excess electricity generated during peak periods to be used at high demand times hence ensuring grid stability.

Moreover, global grid modernization and electrification initiatives are propelling the substation battery market. This has seen governments and utilities invest in upgrading aging infrastructure through incorporation of smart technologies that enhance energy storage capacities. In this regard, manufacturers and suppliers who deal with battery business have an upper hand due to surge energies.

Technological advancements and innovations play a central role in shaping market dynamics. On-going research focuses on improving battery efficiency, life span, safety while cutting costs significantly. Through different chemistries such as lithium-ion or flow batteries plus emerging technologies like solid state ones give more choices for utilities as well as grid operators hence fostering competition.

Furthermore, changing regulatory environment also affects the substation battery market considerably. Policies supporting energy storage deployment; incentives towards grid resilience; mandates encouraging clean energy penetration all affect adoption and deployment into substations respectively. Usually there are favorable regulatory frameworks that facilitate expansion of the markets by attracting many investments within the field of battery storages.

The competitive landscape also plays a crucial role in market dynamics because several established players compete against each other based on price or technology leading to low prices associated with these products/services offered as compared to those offered by new entrants into this industry Moreover, strategic alliances, partnerships and mergers & acquisitions further reshape market dynamics thereby affecting the supply chain plus product offerings.

Covered Aspects:

Report Attribute/Metric Details
Market Size Value In 2022 USD 87.9 Billion
Market Size Value In 2023 USD 95.92 Billion
Growth Rate 9.12% (2023-2032)

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.

December 2023

The Üstra power storage system, which is powered by discarded eCitaro batteries, has been put into action.

Used batteries from the Mercedes-Benz eCitaro city bus, which is an all-electric vehicle, are being given a "second life" for the very first time via this initiative. As part of the GUW+ pilot project, a stationary power storage unit that was constructed from used eCitaro batteries has been put into service at the rectifier substation of the Üstra Hannoversche Verkehrsbetriebe.

In turn, mobility is now ensured by the storage system that is located in the rectifier substation of Üstra. This system makes it possible for the electric buses offered by eCitaro and the light rail vehicles operated by the public transportation business to receive energy in simultaneously. There are 28 second-life battery systems from the Mercedes-Benz eCitaro that make up the storage system, which has a total capacity of more than 500 kWh and is known as the storage system.

The project is being pursued by the partners as a component of a pilot project entitled GUW+, which was announced in the year 2021. TU Dresden and the Fraunhofer IVI in Dresden were also members of the partnership, in addition to Alstom Transport Deutschland, which was the head of the project. Other members of the consortium were Elpro and Motion Control and Power Electronics. The company Üstra AG participated in the project as a demonstration partner, while Daimler Buses was engaged as an affiliated partner. The second-life application was developed and implemented by Mercedes-Benz Energy GmbH, a subsidiary of Mercedes-Benz AG that specializes in the development of power storage systems. 

Now, the energy storage system is being used by Üstra as a buffer for the purpose of using the recuperation energy that is created during the operation of the light rail. The stored energy makes it possible to balance load peaks and guarantee smooth ongoing operation in the event that the grid fails, as stated in a press statement that accompanies the announcement. 

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

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