Substation Battery Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type and, by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032

COVID-19 Impact analysis

Due to outbreak of the pandemic, COVID-19, has affected the global economy and disrupted the operations of various industries across the globe, including the power industry. Nuclear power availability in the EU is expected to remain consistent as several countries, including the UK and Germany, have put in place safety measures to guarantee the continuation of operations. This would be helpful for the induction motors in the EU to generate power and distribute in the facilities such as isolated houses, farmyards, or pumping stations. However, the lockdown orders announced by regional governments have impacted the financial health of power distribution companies. India's daily power demand has reduced by 25 to 28% since the beginning of the nationwide lockdown, driven primarily by the closures of factories and offices in the commercial and industrial sectors. Distribution companies would have to incur higher aggregate technical & commercial (AT&C) losses than the levels specified by the regulators, as the T&D losses incurred are higher than what was earlier predicted. The pandemic has created several hurdles for lithium-ion batteries. Countries which are major producers of raw materials that are required for battery production have been subject to stringent restrictions to control the spread of the virus.

Top Impacting Factors

Substation batteries are used for supplying stored energy for operations of substation protective relays and control. These substation batteries are always charged up through self-regulated battery chargers that are set to maintain a specific DC bus voltage. Any backup devices including main breaker on the low voltage side of the protection of the power transformer would be non-operating. 

Market Trends

• The lead-acid battery is widely used in substation owing to its highly reliable performance and matured technology.
• Industrial and commercial sectors accounts for the major market of substation battery due to demand for uninterrupted power supply.
• Growing demand for uninterrupted power supply from industries and commercial spaces to avoid power losses in order to enhance productivity and spurt the growth of substation battery market.
• Almost all countries around the world are embracing e-mobility for public transportation and also promoting e-vehicle along with building battery charging station infrastructure is expected to drive the substation battery market.
• Generators are flexible with an extensive range of high voltage applications and they are highly reliable compared to substation battery.
• Performance of the battery degrades over the years, which negatively impacts the longevity of battery which in turn hampers the growth of the substation battery market. 

Key Benefits of the Report