Global Energy Storage Market for Satellites 2017-2021: Development of Microsatellites and Next-Generation Batteries Gaining Momentum

The global energy storage market for satellites to grow at a CAGR of 5.04% during the period 2017-2021.

Global Energy Storage Market for Satellites 2017-2021 , 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. To calculate the market size, the report considers the revenue generated from the energy storage market for satellites.

The latest trend gaining momentum in the market is Development of microsatellites and next-generation batteries. Microsatellites can act as a resource to indirectly contribute to the functions of bigger satellites. These tiny satellites can be tailored as per the requirement of the mission. In 2015, a team comprising researchers from the Missouri University of Science and Technology focused its efforts to develop a microsatellite imagery for health monitoring of satellites with sensitive functions such as global security and weather monitoring.

According to the report, one of the major drivers for this market is Declining Li-ion battery prices. The market for Li-ion batteries has been witnessing rapid growth. Owing to this, there has been a decline in the demand for other battery types. The factor that discriminates between Li-ion batteries and other energy storage technologies, such as fuel cells, is the price. However, leading vendors in the manufacturing of Li-ion batteries are working on technological advances and are trying to reduce the price of Li-ion batteries.

Further, the report states that one of the major factors hindering the growth of this market is Widening supply-demand gap for lithium. The global lithium market is facing a deficit of lithium, and this trend is expected to continue during the forecast period. This is owing to the tremendous demand from upcoming sectors such as EV, e-Bike battery, etc. According to the IEA, electric car stock increased from few hundreds in 2005 to more than 1 million in 2015. This led to increased lithium demand to produce Li-ion batteries for EVs, particularly because the battery type is more preferred by EV manufacturers. This sudden increase in demand resulted in a supply deficit in the global market.

Key vendors

Other prominent vendors

Key Topics Covered:

Part 01: Executive Summary

Part 02: Scope Of The Report

Part 03: Research Methodology

Part 04: Introduction

Part 05: Market Landscape

Part 06: Market Sizing

Part 07: Five Forces Analysis

Part 08: Market Segmentation By Energy Storage

Part 09: Regional Landscape

Part 10: Decision Framework

Part 11: Drivers And Challenges

Part 12: Market Trends

Part 13: Vendor Landscape

Part 14: Vendor Analysis

Part 15: Appendix

For more information about this report visit https://www.researchandmarkets.com/research/xlcb9w/global_energy?w=5

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