07 November 2019
Decentralized Energy Storage Market Report 2020-2030: Forecasts by Technology (Battery Energy, Thermal Energy, Others), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) and analysis of leading companies operating in this industry. The downtime created by energy outages is one of the main problems encountered by the businesses in the C&I industry. Even a tiny interruption in electricity supply in clinics and nursing facilities can jeopardize life. Power failure instances result in important failures for manufacturing firms as they lack the timelines for providing products to their clients. Power outages have resulted in the shutdown of several manufacturing facilities worldwide.
Delta Air Lines Inc. suffered a substantial drop owing to a power outage in December 2017. Such economic disasters and company downtimes create an urgent need for energy storage capital to solve power outage-related issues. This increasing need for replacement power is anticipated to fuel worldwide market growth in decentralized energy conservation at a CAGR of over 20% in projected period. Due to the decline in year-over-year development, however, the market momentum will decelerate in the coming years.
End-users use an energy storage system to hold energy during maximum power supply, rather than relying on the power grid. As they decrease the peak demand fees they charge, this results in enormous financial gains. Because of these advantages, competition for energy storage systems is anticipated to boost over the forecast period and thereafter fuel development in the worldwide decentralized scope of the energy storage industry.
Lead-acid batteries, which is one of the transport techniques for electrochemical energy, contain sulfuric acid that is thrown into landfills and contaminates groundwater resources and drinking water. Such unsuitable storage of the used lead-acid batteries leads many nations to implement stringent legislation on the manufacturing and storage of lead-acid batteries to decrease the danger of lead poisoning. For example, China lately closed down many lead-acid battery factories and implemented rigid battery manufacturing laws for lead-acid batteries. This is anticipated to adversely affect the development of the worldwide industry for decentralized energy transport.
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