Wisconsin Company Recognizes a New Business Segment to Expand Its Horizons
Published By : 30 Mar 2015 | Published By : QYRESEARCH
Wisconsin companies have foreseen opportunities for their new products and huge number of sales in the coming decade in the rising field of energy storage. A new report has been presented for a Milwaukee founded energy collaborative which gives a suggestion that the global market for products in this market will grow explosively at a rate of 400% by the end of 2020 along with some different segments which will grow at a rate of 40% within a year.
With the help of good quality and technology of battery, businesses of renewable energy and storage of energy can be combined together so as to protect themselves from rising utility price, especially in some costly energy markets such as California, New York, and Hawaii.
According to the director of the market and industry expansion at the Mid-West Energy Research Consortium, John Bobrowich stated that this market is really going to get huge in the next few years. He said that this market become global and record 75% of the sales amount which will take place across the globe, primarily in India, China, and other nations of Asia-Pacific. He further stated that this is one of the biggest opportunities which have a great potential of revenue creation for the region as the products will be mostly exported.
An analysis has been done for the consortium which specifies that taking an estimation of US$6 billion in sales as on today with the concept of hydroelectric storage the market is anticipated to grow substantially at US$26 billion. Johnson Controls, an organization which is involved in production of batteries for vehicles and building-control systems in separate businesses, is shifting into stationary energy-storage systems.