Competition tesla General Electric to develop battery storage systems and medium voltage electrical load break switch market influence
According to media reports, GE Has launched a new battery storage product -- GE Storage, which uses innovative technology to improve the energy storage density of individual batteries, thereby shortening the production time of battery packs, improving battery life and reliability. The product is currently in the completion stage, in preparation for the future application of renewable energy projects such as electric vehicles.
It is understood that the global battery storage business will reach a market size of $103 billion in 2030, thus attracting more companies to enter the field to seize market share. This time, GE turned to develop new battery storage technology, hoping to seize the battery storage market together with Tesla, Siemens and other companies, to meet the future market may appear explosive demand.
The GE Reservoir battery storage solution uses a single high-density 1.2MW and 4MW storage system. A total capacity of 20 MW /80 MW battery pack can significantly reduce the construction time of battery pack installation by 50% compared to conventional systems. At the same time, the solution can extend battery life by 15%, further reducing costs.
Energy storage has been a small part of GE energy storage business this year, but it could become a major technology segment for the company in the future as demand grows stronger. According to market research firm GTM Research, 9-gigawatt hours of energy storage will be built in the U.S. by 2023, creating tens of billions of dollars in revenue for the energy storage industry. Tesla previously released a battery storage system with a total capacity of 20MW/80MWh in 2021, which will also be a major competitor to GE Reservoir solutions.
What is medium voltage switchgear?
Medium voltage switchgear essentially handles current and voltage fluctuations between 3KV and 36KV. The switchgear is ideal for a variety of functions including normal on/off applications, switching induced current, short circuit interrupts, switching capacitive current, and even specialized applications. This switchgear usually comes in a variety of types, including metal-enclosed indoor switchgear, metal-free switchgear, metal-enclosed outdoor switchgear, etc. Switching equipment is often critical for fault current transmission to interrupt current. To get more information about the load break switch, send an email to firstname.lastname@example.org and we will reply within 48 hours.
The load break switch market is geographically segmented into North America, Western Europe, Asia Pacific, Eastern Europe, South America, Middle East and Africa. Asia-pacific was the largest region in the medium voltage switchgear market in 2021. The medium voltage switchgear market is still a competitive, innovative and decentralized pattern. Increased load break switch manufacturing in new regions such as the Asia Pacific and the continued expansion of established players in new regions remain key drivers of fragmentation. Growing in this sector remains a key opportunity to gain load break switch market share and competitive advantage.
Power generation demand is expected to drive the load break switch market. The development of industrialization and urbanization needs a continuous power supply, and the reliability of the power supply largely depends on the performance of the switch cabinet. Energy production is growing sustainably, demand is growing in both rural and urban areas, and the integration of protected load break switch supplies is improving, which will drive industry growth.
Medium voltage switchgear load break switch market trend
Electricity is likely to overtake oil in final consumption by 2040, according to the International Energy Agency (IEA). Increasing regulatory efforts to promote clean energy, a sharp decline in conventional coal-fired power generation and global targets to reduce carbon dioxide emissions from power generation by three-quarters by 2040 remain the main drivers of power generation growth. In addition, the IEA estimates that greater use of renewable energy in power generation and evolving load break switch technologies such as hydrogen fuel and electricity remain the main prospects for bringing key developments such as electric vehicles to consumers around the world.
Therefore, the installation of small and medium-sized load break switch grids on a global scale will be essential. These installations are also essential to meet the seasonal demand for additional power generation for residential and commercial applications. Currently, there is significant demand for additional power generation during peak hours and to maintain load break switch operations during outages in regions such as the Asia Pacific.
About JGGY-professional load break switch supplier
Zhejiang JGGY Electrical Co.,Ltd (jggyelectrical.com), JGGY Electrical was established in 2002, specializing in the manufacture, sales and service of middle voltage electrical products. JGGY Electrical mainly specializes for 6~42kV medium voltage electric (outdoor and indoor): load break switch, disconnector, cutout fuse, surge arrester, vacuum circuit breaker. We focus on the design, manufacture and sale of various medium voltage electrical systems, control and automation systems, electrical products and metering and protection systems. To get more information about the load break switch or feel free to get a quote on the required products or send an email to email@example.com and we will reply within 48 hours.
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