LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global energy storage market for renewable energy grid integration report from 2017-2021. This market research report also lists 13 other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
The global energy storage market for renewable energy grid integration has the presence of highly competitive vendors. Competition in the market is based on several factors such as brand product quality, reliability, recognition, durability, energy density, and price. It is predicted that the market will continue to evolve and that global and other diversified manufacturers will have a competitive benefit over smaller and new vendors by offering better products at a competitive price.
According to Thanikachalam Chandrasekaran, a lead analyst at Technavio for energy storage research, “Large players with expanded business operations can achieve their profitability during the volatile demand for batteries as revenues from other sources compensate for the loss in sales revenues. Therefore, though many vendors enter the market to tap the large customer base, only a few players that can manage their sales, distribution, and working capital effectively survive and continue their operations.”
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Technavio market research analysts identify the following key vendors:
ABB provides power and automation technologies for utility, transport, and infrastructure industries throughout the world. ABB is one of the major players in the global energy storage market for renewable energy grid integration. The company provides renewable energy integration with smart grids to optimize the grid reliability, energy efficiency, and capacity utilization. In 2014, ABB and BYD partnered to cooperatively develop new energy storage solutions for applications ranging from off-grid and on-grid renewable integration to electric vehicle charging.
East Penn Manufacturing
East Penn Manufacturing company offers lead-acid batteries, wires, cable products, and battery accessories. On an average, more than 30,000 batteries are produced daily. The company designs and manufactures hundreds of energy-storage devices that serve various industries. The company sells its products through its private labels, including distribution through major auto parts retailers across North America. East Penn Manufacturing company manufactures valve-regulated lead-acid (VRLA) reserve power batteries.
The company manufactures petrochemical goods, information and electronic materials, batteries, and related products and solutions. LG Chem specializes in providing rechargeable batteries in various industries. The company also offers battery solutions for products such as laptops, power tools, smartphones, e-bikes, garden tools, power banks, digital cameras, and others. The automotive battery division offers batteries for HEVs, PHEVs, and EVs.
Robert Bosch is a supplier of technology and services to its clients through its subsidiaries worldwide. The company has approximately 340 subsidiaries and has a consumer base in over 150 countries. Robert Bosch offers battery storage solutions for smart grid services. The company provides a wide portfolio of energy technologies and products to offer advanced storage solutions.
The company operates as a subsidiary of AES. In the US, it operates as an independent power producer and supplies power across 20 countries. The AES caters to the power generation industry. The company builds new emission control technologies, wind and solar power plants, and biomass conversions. The company excels in offering advanced battery technology to the power sector and has been present in the market for nearly 30 years. The company supplies Advancion for renewable grid integration application.
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