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An uninterrupted power supply is essential for a higher level of productivity to avoid losses. Frequent power outage or unreliable power supply causes overall performance of the company and hampers the productivity incurred in major losses. The industries and commercial buildings constructing their own substation with the help of batteries to avoid power outage. Substation battery ensures that all the electrical equipment in a substation continue to operate in the event of a power outage.
The DC system is vital component of a high voltage industrial or utility substation. It supplies energy needed to manage the protective devices and high voltage component and allows electrical faults to be safely isolated. Therefore, in many industrial and commercial application substation batteries are deployed to enhance the reliability of power supply and avoid power outage.
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The substation battery market is segmented into type and application. Types are further divided into the lead-acid battery, nickel-cadmium battery, and others. The lead-acid battery is extensively used for in substation owing to its highly reliable performance and matured technology. Industrial and commercial sector accounts the major market of substation battery due to demand for uninterrupted power supply.
Steadily rising demand for uninterrupted power supply from industries and commercial spaces to avoid power losses in order to enhance productivity is boosting the growth of the substation battery market. Many countries across the globe embracing e-mobility for public transportation and promoting e-vehicle along with building battery charging station infrastructure is expected to drive the substation battery market.
Generators are flexible with a wide range of high voltage application, and they are highly reliable as compared to substation battery. Also performance of the battery degrades over the years which negatively impacts the longevity of the battery which limits the growth of the substation battery market.
The major substation battery companies are Exide Technologies, GS Yuasa International Ltd., Saft, Robert Bosch GmbH, Johnson Controls, Amara Raja Group, EnerSys, Luminous Power Technologies (P) Ltd, Trojan Battery Company, Exide Industries, SolarEdge Technologies, Tesla, HBL Power Systems Ltd.
The substation battery market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Technological development augmented the growth of the substation battery market in North America. Deployment of batteries in large scale companies to avoid power failure and rising demand for uninterrupted power supply is supposed to enlarge the growth of the substation battery market in North America. Europe is adapting e-mobility for public transportation and promoting e-vehicle to mitigate the rising GHG emission. Auto companies along with government assistance building charging station for e-vehicle is expected to leverage the demand for substation battery market in Europe. The Asia Pacific is dominating the substation battery market owing to rising industrialization and commercialization which needs an uninterrupted power supply to enhance productivity. The steadily rising economy of China and India is also contributing to the growth of the substation battery market. The substation battery market in MEA is expected to grow at steady rate due to lack of infrastructure, low-level income, limited industrial scope which inhibits the growth opportunities.