MarketResearch.biz delivers in-depth insights on the global battery energy storage system market in its upcoming report titled, “Global Battery Energy Storage System Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global drugs market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global battery energy storage system market report has been segmented on the battery type, connection type, application, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Penetration of renewable sources into the power system network has been increasing over the past year, because of which there have been a concerns over reliable and satisfactory operation of the power systems. In order to improve the reliability and performance, the system have to be integrated with energy storage devices into the power system network.
Increasing government funding in grid installations is in turn expected to create demand for battery energy storage system thereby, supporting growth of the global battery energy storage system market over the forecast period. Various advantages of lithium-ion batteries over the conventional batteries which includes reduced weight and ease of handling coupled with high demand for the lithium-ion technology in the renewable energy industry is other factor expected to support growth of the target market over the forecast period.
Continuous focus of manufacturers to develop innovative and novel solution is expected to drive growth of the target market over the forecast period. For instance, AEG Power Solutions has developed a new innovative battery energy storage system for low voltage (LV) and medium voltage (MV), that provides grid stabilization and increased power quality.
Market in Asia Pacific significantly dominates the global battery energy storage system market in terms of revenue contribution as compared to that of markets in other regions. Growing demand for battery energy storage system countries such as China, India, and Japan is expected to be major factor supporting growth of the market in the region over the forecast period.
Target audience for the global battery energy storage system market includes battery energy storage system market manufacturers, electronics industry, energy storage research institutes, government organizations etc., grid operators etc.
Global Battery Energy Storage System Market Segmentation:
Global battery energy storage system market segmentation, by battery type:
- Lithium-Ion Batteries
- Sodium–Sulfur Batteries
- Flow Batteries
- Nickel Cadmium Batteries
Global battery energy storage systems market segmentation, by connection type:
- On-Grid Connection
- Off-Grid Connection
Global battery energy storage systems market segmentation, by application:
Global battery energy storage system market segmentation, by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- ABB Limited
- LG Chem
- NEC Corporation
- Samsung SDI Ltd.
- AEG Power Solutions
- General Electric
- Hitachi Chemical Co. Ltd.
- Siemens AG
- Tesla Inc.
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