The key players operating in the battery energy storage system market are ABB (Switzerland), LG Chem (South Korea), NEC (Japan), Panasonic (Japan), Samsung SDI (South Korea), AEG Power Solutions (Netherlands), General Electric (US), Hitachi (Japan), Siemens (Germany), and Tesla (US).
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Download Brochure of Battery Energy Storage System Market spread across 195 Pages, Profiling 10 Companies and Supported with 83 Tables and 79 Figures is now available at www.rnrmarketresearch.com/contacts…mple?rname=521486 .
The battery energy storage system market is expected to grow from USD 1.98 billion in 2018 to reach USD 8.54 billion by 2023, at a CAGR of 33.9% between 2018 and 2023. The major drivers for the growth of the market include the increasing demand for grid-connected solutions, high demand for the lithium-ion technology in the renewable energy industry, and declining prices of lithium-ion batteries.
Key Target Audience
- Battery energy storage system manufacturers
- Battery energy storage system providers
- Energy storage research institutions
- Government and research organizations
- Grid operators
- Research organizations and consulting companies
- Solid-state battery, electrochemical capacitor, and other energy storage technology manufacturers
- Technology standard organizations, forums, alliances, and associations
The objective of the report is to provide a detailed analysis of the battery energy storage system market segmented on the basis of element, battery type, ownership, connection type, application, and geography.
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It also provides detailed information on the major factors influencing the growth of the battery energy storage system market.
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Major factors driving growth of battery energy storage system market include increasing demand for grid-connected solutions, high demand for lithium-ion technology in renewable energy industry, and declining prices of lithium-ion batteries. Vendors’ offerings have also been taken into consideration to determine market segments.
Bottom-up procedure has been employed to arrive at overall size of the battery energy storage system market from revenues of key players.
Based on Type, the market has been segmented as follows:
Based on End-use Sector, the market has been segmented as follows:
- Personal care
- Home care
Based on Region, the market has been segmented as follows:
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
The battery energy storage system market for flow batteries is expected to grow at the highest CAGR between 2018 and 2023. The redox, hybrid, and membrane-less batteries are the different classes of flow batteries.
A new generation of redox (i.e., reduction–oxidation) flow batteries in battery energy storage system are much better suited for medium- and large-scale applications where heavy use, long-term cycling, durability, and safety are paramount.
Connect for More Details for More Information “Battery Energy Storage System Market by Element (Battery, Hardware), Battery Type (Lithium-Ion, Advanced Lead Acid, Flow Batteries, Sodium Sulfur), Connection Type (On-Grid And Off-Grid), Ownership, Application, and Geography - Global Forecast to 2023” report @ www.rnrmarketresearch.com/contacts…ount?rname=521486 .
The research report analyzes the battery energy storage system market on the basis of element, battery type, ownership, connection type, application, and geography. Based on element, the battery energy storage system market has been classified into battery, hardware, and other elements.
The market has been segmented on the basis of battery type into lithium-ion batteries, advanced lead-acid batteries, flow batteries, sodium–sulfur batteries, and others.
Key Benefits of Getting the Report:
- Illustrative segmentation, analysis, and forecast of the market based on element, battery type, ownership, connection type, application, and geography have been conducted to give an overall view of the battery energy storage system market.
- Major drivers, restraints, opportunities, and challenges pertaining to the battery energy storage system market have been detailed in this report.
- The report includes a detailed competitive landscape, along with the profiles of key market players.
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