International Business – Qwik Power Industries India LLP
Amid high competition in the Indian battery market, Qwik Power Industry India LLP is renowned as a top-notch battery supplier and exporter in India. We have also made our global presence so strong by exporting superior quality batteries to the international market and thus, always a step ahead of our competitors.
Qwik Power Industry India LLP – a leading battery supplier in Hyderabad, India provides various types of batteries in different marketplaces like Nepal, Afghanistan, Nigeria, Oman, Muscat, UAE, Malawi (SA), Lebanon, Kuwait, Ethiopia (SA), and Argentina.
According to the report of market research “Global Battery Market by Transport Mode of Automotive, Two Wheeler, Aerospace, and Marine; Lead Acid Type and Nickel Metal Hydride Type Automotive Battery; Industry Trends, Forecast to 2021 & Geography – the reports show the projection of 4.15% at a CAGR from 2016 to 2021. There is also a major growth in the market size of USD 17.26 billion by 2021, says the global battery market report. If you want to know the major reasons for growth in the global battery market, then here are those: a major growth in the integration of electronics, government incentives for cleaner transportation, fuel savings, growth in the demand for transportation, new electric and hybrid automotive models from OEMs.
Let’s know the opportunity of Inverter Batteries in the International Business Market.
NEW YORK, March 26, 2018 (GLOBE NEWSWIRE) – Energy storage devices like batteries and other systems are used to store energy so that the stored energy can be used when required for the working of various applications. Furthermore, when it comes to the stand-alone power system, energy storage devices like batteries are used when there is a necessity of energy like the solar battery on a non-sunny day and wind on a still day. There are also other types of systems like inverters which are used to convert the energy from one form to another form. However, in order to convert direct current (DC) electricity from a wind turbine or solar panels into alternating current (AC) mains power, an inverter is connected in a form of a grid in a renewable energy system.
In addition, inverter battery is experiencing major growth factor due to the demand of electric energy across the globe and in order to fill the supply gap of increasing purchasing power of consumers. Also, another factor that is impacting the inverter battery market is an increase in the number of solar PV installations. Furthermore, as the lifestyle of people is changing and due to the long cuts of power, there is an increase in the market of inverters.
Battery inverters market is segmented into <450W, 450W-1500W, >1500W. As the market of battery inverters is fragmented, there are a large number of small players manufacturing sub-standard 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. Thus, this growing demand impacts positively on the inverter battery market.