Qwik Power Solution has a major impact in Indian Batteries Market. When it comes to Global presence Qwik Power Solution is not long behind the competitors. We have a huge presence internationally and of the largest exporter of batteries in the international market as well.
Qwik Power Solution has the presence in Market of Nepal, UAE, Afghanistan, Malawi (SA), Nigeria, Lebanon, Argentina, Oman, Kuwait, Muscat, Ethiopia (SA)
According to market research The report “Global Battery Market by Transport and Transport Mode (Two Wheeler, Automotive, Marine & Aerospace), Automotive Battery by Type (Lead Acid & Nickel Metal Hydride) & by Geography – Industry Trends & Forecast to 2021”, The global battery market is projected to grow at a CAGR of 4.15% from 2016 to 2021, to reach a market size of USD 17.26 Billion by 2021. The major factors behind the growth of the global battery market are new hybrid and electric automotive models from OEMs, fuel savings and government incentives for cleaner transportation, the growing integration of electronics and growing demand for transportation
NEW YORK, March 26, 2018 (GLOBE NEWSWIRE) — Batteries and other energy storage devices are used for storing energy so that it can be used when required. In a stand-alone power system, the energy stored in batteries can be used when the demand of energy exceeds the output from renewable energy sources like solar (e.g. on a cloudy day) and wind (e.g. on a still day).Devices Like inverters are used for the conversion of the energy from one form to another. An inverter in a grid connected renewable energy system converts direct current (DC) electricity from solar panels or a wind turbine into alternating current (AC) mains power.
The Major growth factor for Inverter Battery Market has been attributed to the demand and supply gap between electric energy around the globe and the increasing purchasing power of consumers. The rising number of solar PV installations is also a key factor impacting the inverter battery market.. Market of inverter is growing due to change in lifestyle of people leaving in rural and urban areas, Tolerance for Long cuts among consumer is decreasing.
The market for battery inverters is segmented into <450W, 450W-1500W, >1500W. The market for battery inverters is fragmented and there exist a large number of small unorganized players manufacturing sub-standard and local inverters.
The demand for inverters is expected to surge from the growing economies such as North America followed by Europe due to the rising demand for sustainable power for residential and commercial sectors. This growing demand is likely to put forth a positive impact on the inverter battery market.