Grid Connected Battery Energy Storage Market Top Companies to Watch Out: NGK Insulators Ltd, BYD Company, NEC Corporation, Samsung SDI

An electrical grid is a network, which delivers electricity for electricity production plant to consumer. The battery storage provides flexibility for end user application such as solar power and wind power. The grid storage is classified as either front of the meter (FOM) storage and behind the meter (BTM) storage. The front of the meter is for community energy storage, utility application, and others and behind the meter storage is for both residential and commercial application. Global grid connected battery storage market generated revenue of US$ 996.8 million in 2017 and is expected to reach US$ 4,242.4 million by 2025.

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Lithium-ion battery segment held the dominant position in the global grid connected battery storage market in 2017

Lithium-ion battery held the dominant position in the market in 2017 and is expected to retain its dominance throughout the forecast period. Due to advantages of Lithium ion battery such as high energy density, low self-discharge, low maintenance have accelerated the segment in the market.
Asia Pacific held the dominant position in the grid connected battery market in 2017

The grid connected battery market in Asia Pacific region held the dominant position in the global market in 2017 and is projected to retain its dominance throughout the forecast period. China, India, and Japan are growth engines in the grid connected batteries market in Asia Pacific. Increasing investment in smart city initiatives is one of the key driving factors for growth of the grid connected battery storage market in the region.

Key Players- Global Grid Connected Battery Storage Market.

The major players operating in the global grid connected battery storage market include NGK Insulators Ltd, BYD Company, NEC Corporation, Samsung SDI Co., LG Electronics Inc., Xtreme Power, Saft Groupe S.A., AES Energy Storage, Alevo, Delco, Altair Nanotechnologies Inc., EnerDel, GNB Corporation, Ecoult, and Powertree Services Inc.

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Detailed Segmentation:

• Global Grid Connected Battery Energy Storage Market, By Battery Type:

o Lithium-Ion Battery
o Lead Acid Battery
o Others

• Global Grid Connected Battery Energy Storage Market, By End Users:

o Residential
o Industrial
o Utilities
o Others

Global Grid Connected Battery Energy Storage Market, By Geography:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East
• Africa

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This release was published on openPR.