Infinium Global Research has added a new report on Battery Energy Storage System Market. The
report presents analysis of global as well as regional markets of battery
energy storage system over the period of 2016 to 2024. The battery storage
energy system is the system that uses batteries to store the produced energy.
The energy generated from the power plates is the more than the requirements so
the produced energy is stored in the batteries. This stored energy can be
further used depending upon the necessity. Now a days, the battery energy
system is become has become an important part of power system or power plants
in order to provide reliability and improve the performance. There are various
types of batteries are used to store the energy by using battery energy storage
system that includes lead acid batteries, Lithium Ion batteries, Vanadium Flow
batteries, and others.
Rapidly growing demand of renewable energy sources are
the key factor driving the growth of battery energy storage system market
worldwide. The several government organizations across various countries are
taking the initiative to promote the use of renewable energy. The energy
storage system plays important role in the renewable energy generation system
as they helps to improve the reliability and flexibility of the system. The
increasing adoption of lithium ions battery in the renewable power generation
system is likely to escalate the demands of battery energy storage system market.
Furthermore, the decreased pricing of lithium batteries is also one of the
factors that helps to boost the growth of battery energy storage system market.
However, the high initial investments are hampering the growth of battery
energy storage system market. Moreover, ongoing developments in the renewable
energy sector, and use of battery storage for residential application are
projected to create several opportunities in the battery energy storage system
market.
Geographically, North America holds the maximum share
in the battery energy storage system market and expected to be the dominating
region in this market over the forecast period. The rapidly increasing demand
for battery required to store renewable energy and increase number of data
centers powered through solar energy in North America are driving the growth of
battery energy storage system market in this region. Furthermore, Asia Pacific
is the fastest growing region in the battery energy storage system market owing
to the growing adoption of renewable energy, favorable government policies and
rapidly growing energy sector. Moreover, the growth matrix presented by
Infinium Global Research identifies the key investment markets in the near
future, this will not only help the companies to understand the competitive
position in the global battery energy storage system but also make strategic
decisions to capture the most lucrative markets in the near future. The market
size is presented in terms of value for the historic year 2016 and estimated
for forecast period of 2018-2024.
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The recent report identified that Asia Pacific
dominated the global battery energy storage system over the last couple of
years, while emerging markets of Asia-Pacific and Latin America are anticipated
to contribute significantly to the growth in the battery energy storage system
worldwide.
The report segments the global battery energy storage
system on the basis of Technology, Connection Type and Application.
Global Battery Energy Storage System by
Technology
·
Lithium-Ion Batteries
·
Sodium–Sulfur Batteries
·
Lead-Acid Batteries
·
Flow Batteries
·
Others
Global Battery Energy Storage System by
Connection Type
·
On-Grid Connection
·
Off-Grid Connection
Global Battery Energy Storage System by
Application
·
Residential
·
Non-Residential
·
Utilities
Companies Profiled in the Report
·
ABB
·
LG
Chem
·
Panasonic
·
Samsung SDI
·
General Electri
·
Hitachi
·
Siemens AG
·
Tesla
·
NEC
·
AEG
Power Solutions
About Infinium Global Research
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and reports. The intelligence reports include qualitative as well as
quantitative information, which are blended using forecasting models in order
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