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Energy Industry News Releases

Battery Energy Storage System Market worth 6.81 Billion USD by 2022 (Research Analysis)

 



(EnergyIndustry.Net, December 14, 2017 ) he battery energy storage system market is expected to grow at a CAGR of 37.0% between 2016 and 2022 and is expected to reach USD 6.81 Billion by 2022. The growth of the market is driven by the increasing demand for grid connected solutions, growing electric vehicle market, high requirement of lithium-ion batteries in various applications, and government support.



DOWNLOAD PDF BROCHURE: https://www.marketsandmarkets.com/pdfdownload.asp?id=112809494



There is a growing market for battery energy storage system in residential, non-residential, and transportation application. The residential battery energy storage systems are gaining popularity owing to interest in the use of natural energy and as a power source at the time of emergency. Moreover, lithium-ion batteries are expected to become mainstream technology for residential battery energy storage systems as it supports cutting down the amount of power lost from AC-DC conversion.



The battery energy storage system in non-residential application supports electricity bills savings, thereby reducing the peak hour demand. This factor is expected to drive the growth of non-residential sector of this market. Additionally, the increasing market of electric vehicles is supporting the growth of the battery energy storage system market for the transportation sector.



BROWSE 75 MARKET DATA TABLES AND 77 FIGURES SPREAD THROUGH 165 PAGES AND IN-DEPTH TOC ON “Battery Energy Storage System Market – Global Forecast to 2022″

http://www.marketsandmarkets.com/Market-Reports/battery-energy-storage-system-market-112809494.html



The battery energy storage system market on the basis of battery type is segmented into advanced-lead acid batteries, flow batteries, lithium-ion batteries, and sodium-sulfur (NAS) batteries among others. The lithium-ion batteries (LIBs) are currently used in a majority of BEVs and PHEVs, and it is likely that they would continue to lead throughout the next decade. Furthermore, the increasing advancement in flow batteries which are considered safer than lithium-ion batteries are expected to support the growth of battery energy storage system. The flow batteries can resist greater temperatures and periods of idleness, which makes them suitable for storing and releasing renewable energy such as that from solar panels and wind turbines. The most popular flow batteries include vanadium redox flow battery and hybrid flow batteries which include zinc-bromine, zinc-cerium, and lead-acid among others. These factors are driving the growth of the market for battery energy storage system based on the flow battery technology.



In 2015, the utility application held the largest market in Asia-Pacific, whereas the residential application is expected to grow at a high CAGR between 2016 and 2022. The major reasons driving the growth of the battery energy storage system market in the APAC region is the large number energy storage installations in countries such as China, Japan, and India.



The ecosystem of the battery energy storage system market includes the raw material provider and component manufacturer, battery energy storage system manufacturers, system integrators, and distributors. The key players in the market include ABB Ltd. (Switzerland), AEG Power Solutions (The Netherland), General Electric Co. (U.S.), Hitachi ltd (Japan), LG Chem. (South Korea), NEC Corporation (Japan), Panasonic Corporation (Japan), Samsung SDI Co., ltd. (South Korea), Siemens AG (Germany), and Tesla Motors Ltd. (U.S.) among others.



Inquiry Before Buying:

https://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=112809494



Key Target Audience:



Battery energy storage system developers

Grid connected solution providers

Research organizations

Technology investors

Technology standards organizations

Associations, forums, and alliances related to battery energy storage system

Government bodies such as regulating authorities and policy makers

“Study answers several questions for the stakeholders, primarily which market segments to focus in the next two to five years for prioritizing the efforts and investments.”



Scope of the Report



The research report segments the battery energy storage system market into the following submarkets:



By Battery Type:



Lithium-Ion Batteries

Advanced Lead-Acid Batteries

Flow Batteries

Sodium-Sulfur (NAS) Batteries

Others

By Connection Type:



On-Grid

Off-Grid

By Ownership:



Customer-Owned

Utility-Owned

Third-Party-Owned

By Revenue Source:



Hardware

Software & Services

By Application:



Residential

Non-Residential

Utility

Transportation

Others

By Geography:



Americas

Europe

Asia-Pacific

Rest of the World

Available Customizations:



With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:



Company Information



Detailed analysis and profiling of additional market players

About MarketsandMarkets



MarketsandMarkets is the world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors.



M&M’s flagship competitive intelligence and market research platform, “RT” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.



We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.



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Mr. Rohan

1-888-600-6441

sales@marketsandmarkets.com

Source: EmailWire.Com

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