The genset battery market report analyst says a key trend which is boosting market growth is the increase in power generation capacity. Countries worldwide are in the process of increasing their power generation capacity to reduce their energy dependence and overcome issues related to power blackouts. Many end-users are shifting toward alternative energy forms such as renewable-based installations rather than depending on gensets. Solar PV, wind energy, and other forms of renewable energy are gaining popularity as they prove to be cost-effective solutions compared to diesel gensets. This trend is observed primarily in EMEA and APAC countries, as they are focusing more on the development of alternate sources of energy.
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According to the report, a key growth driver is the effectiveness of genset batteries. One of the key performance attributes required by any battery is high power density. Genset batteries provide high power density that enables them to supply power to large diesel engines at low temperatures by occupying the least space. Another notable feature of genset batteries is their long service life that makes them capable of lasting for several years under continuous trickle charge and be able to fire up the genset whenever required. In addition, genset batteries have quick recharge capability, which is necessary in case of installations where there are frequent power outages.
Growing urbanization and industrialization have resulted in high demand for power. Industries are rapidly adopting gensets to ensure continuous supply of electric power to facilitate smooth business operations. Usually, the start function of a genset is battery operated. An installed battery charger keeps the battery charged by ensuring the supply of precise float voltage. If the float voltage is low, the battery will remain undercharged. If it is high, then there is a possibility of shortened battery life.
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The report, Global Genset Battery Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The report covers the present scenario and the growth prospects of the global genset battery market for 2016-2020. To calculate the market size, the report considers the global demand for generator batteries from various end-user applications.
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Key players in the global genset battery market: Cummins, Eaton, EnerSys, Exide Industries, and Leoch International. Other Prominent Vendors in the market are: Amara Raja Batteries, Generac Holdings, and Kohler.
Further, the report states that one challenge that could restrict market growth is the hazardous nature NiCd. The major drawback in NiCd batteries is their high self-discharge rate. For instance, large battery systems can lead to higher float charge energy costs.
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