Advanced Battery Storage Systems Market to Receives a Rapid Boost in Energy Sectors due to High Demands and Emerging Technology by Forecast during 2018 - 2023, focusing on top Key Vendors: ABB (Switzerland),LG Chem (South Korea),NEC (Japan),Panasonic (Jap

Global Advanced Battery Storage Systems Market is increasing as demand for electric vehicles increases. According to the International Clean Transportation Association (ICCT), in 2015, the US hybrid electric vehicle (HEV) accounted for 15% of all vehicles. The total number of HEV vehicles in Europe is more than 8% of total transport vehicles in 2015. One of the seven cars sold in the EU is HEV since 2015. In 2015, the UK Department of Transportation aims to invest $ 270 million in electricity, supplying low-emission gas to all UK vehicles by 2050.

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Asia Pacific is the fastest growing Advanced Battery Storage Systems Market during the period from 2018 to 2024. Key drivers for the advanced battery storage technology market in Asia Pacific are China, Korea, Singapore and Japan. Demand for Japanese electric vehicles is expected to increase 11% in 2018. According to the ICCT, China's electric vehicle sales have increased at a remarkable rate of 294% in 2015. The high growth rate is expected to continue through 2020.

Global Advanced Battery Storage Systems Market is estimated at $ 1,117.9 billion in 2016 and is expected to grow at an annual average of 8.38% from 2017 to 2022. The primary role of energy storage systems in power systems is to provide time-shifted frequency regulation by managing peak loads, mitigating power grid congestion, and uniformly supplying power to distributed generations. They are also used as the main power source for electric vehicles. Key drivers for the energy storage system market are energy financing opportunities, increased installed renewable energy and global electric vehicle market growth.

Key Vendors:
•ABB (Switzerland),
•LG Chem (South Korea),
•NEC (Japan),
•Panasonic (Japan),
•Samsung SDI (South Korea).

Advance battery energy storage systems provided by these players are required to meet the standards mandated by governmental organizations, such as International Organization for Standardization (ISO).

Research Methodology of Research2Reports

This research study involved the use of extensive secondary sources, directories, and databases, such as, Hoover’s, Bloomberg BusinessWeek, Factiva, and OneSource, to identify and collect information useful for a technical, market-oriented, and commercial study of the global advanced energy storage systems market. Primary sources are mainly industry experts from core and related industries, service providers, technology developers, standard and certification organizations of companies, and organizations related to all the segments of this industry’s value chain.

Highlights of the report
•A complete backdrop analysis, which includes an assessment of the parent market
•Important changes in Advanced Battery Storage Systems Market dynamics
•Market segmentation up to the second or third level
•Historical, current, and projected size of the market from the standpoint of both value and volume
•Reporting and evaluation of recent industry developments
•Market shares and strategies of key players
•Emerging niche segments and regional markets
•An objective assessment of the trajectory of the market
•Recommendations to companies for strengthening their foothold in the Advanced Battery Storage Systems Market
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