openPR Logo
Press release

Battery Energy Storage Systems Market worth US$ 26 Bn by 2026

10-29-2020 09:30 AM CET | Energy & Environment

Press release from: Transparency Market Research - Energy & Mining

Albany, NY - The rising global demand for electric vehicles, rising consumer demand for electronics, and increasing policy push for sustainable use of energy are expected to emerge as key drivers for growth in the battery energy storage market. The market will grow at a robust 12.0% CAGR during 2018-2026, with its valuation rising from US$9 bn in 2017 to an all-time high with large investments by China and the US in sustainable energy.

Recently released battery energy storage system market report by TMR, will focus on various technologies in the market including Lithium-ion batteries, Sodium sulphur batteries, Nickel cadmium batteries, flow batteries, sodium-ion batteries. Among these, the lithium-ion batteries segment is likely to witness highest growth, thanks to its widespread use in electric vehicles, and smartphones. The growth of 5G will also create significant opportunities in the battery energy storage system market with expected rise in sales of smartphones.

The rise in adoption of sustainable energy globally is expected to remain a major growth driver during the forecast period. Among regions, Asia Pacific, and North America will remain at the forefront of growth as both countries have supported key initiatives to support electric vehicle development infrastructure, and innovative products in the region continue to drive demand.

Download PDF Brochure - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=27305

Rise in Demand in Residential Sector to Boost Growth

The UK is on a quest to install smart meters in homes countrywide. The country plans on sourcing half of its current energy usage from renewables by 2021. As planned by the National trust, UK will witness an installation of 53 million new meters in 26 million homes. The new meter will not help power sustainable energies but also bring in more transparency, and efficiency in usage of energy. The rising demand for energy-efficiency is expected to drive demand for energy-efficiency storage systems like batteries. The rising demand for storage of energies, and increasing usage of smart home-appliances will drive demand for power-backups. Power-backups are essential component of electrical infrastructure as without these, expensive smart gadgets are at higher risk of electrical fluctuations, and these can be essentially for smart grids also.

More Trending Reports by Transparency Market Research – https://www.prnewswire.com/news-releases/global-district-cooling-market-to-clock-cagr-of-7-82-to-reach-valuation-of-us-39-bn-during-2019---2027-transparency-market-research-301002587.html

Electric Vehicles are on the Move to Drive Growth in the Battery Energy Storage System Market

China’s largest electric vehicle manufacturer, BYD has secured a contract to deliver 259 green buses to Netherlands. The company has received first of its kind-order from Europe, for a Chinese company. Similarly, Tesla has been shortlisted by China among foreign companies, the government will help support to boost electric infrastructure in the country. The developments are promising for players in the battery energy storage system market. Electric vehicles with their heavy usage of electric energy, and next-gen connected systems, will require advanced battery energy storage systems. The rising demand and support for electric vehicles worldwide will drive create several opportunities for growth for players in the battery energy storage system market.

The study presented here is based on a report by Transparency Market Research (TMR) titled “Battery Energy Storage Systems Market (Technology - Lithium-ion Batteries (Lithium Cobalt Oxide, Lithium Manganese Oxide, Lithium Nickel Manganese Cobalt Oxide, Lithium Iron Phosphate, Lithium Nickel Cobalt Aluminum Oxide, Lithium Titanate), Flow Batteries (Redox Flow Batteries, Iron Chromium Flow Batteries, Vanadium Redox Batteries, Hybrid Flow Batteries (Zinc Hybrid Cathode, Other Hybrid Batteries), Nickel Cadmium Batteries, Sodium Sulfur Batteries, Sodium Ion Batteries); Application - On-grid Connected Systems, Off-grid Connected Systems, Automotives) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018-2026.”

Request for covid19 Impact Analysis - https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=27305

The global battery energy storage systems market is segmented based on:

Technology

• Lithium-ion Batteries [Lithium Cobalt Oxide, Lithium Manganese Oxide, Lithium Nickel Manganese Cobalt Oxide (NMC), Lithium Iron Phosphate (LFP), Lithium Nickel Cobalt Aluminum Oxide, and Lithium Titanate]
• Nickel Cadmium Batteries
• Sodium Sulfur Batteries
• Sodium-ion Batteries
• Flow Batteries [Redox Flow Batteries, Iron-chromium Flow Batteries, Vanadium Redox Batteries, Hybrid Flow Batteries (Zinc Hybrid Cathode, Other Hybrid Batteries), Other]
• Other

Application

• On-grid Connected Systems
• Off-grid Connected Systems
• Automotive
• Others

U.S. Contact

Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Battery Energy Storage Systems Market worth US$ 26 Bn by 2026 here

News-ID: 2175686 • Views: 199

More Releases from Transparency Market Research - Energy & Mining

US On-Site Hydrogen Generator Market Share, Trends, Forecast 2027
Albany, NY - Key Highlights According to Transparency Market Research (TMR), the US on-site hydrogen generator market is likely to reach a valuation of US$ 191.4 Mn by 2027. The US on-site hydrogen generator market was valued at US$ 121.3 Mn in 2018 and is expected to exhibit a strong CAGR of 5.20% between 2019 and 2027. The report would provide detailed information about the working dynamics of the US onsite
Syngas and Derivatives Market To Reach 256,605 MWth by 2024
Albany, NY - A new study by Transparency Market Research (TMR) states that the degree of competition between BASF SE, Air Liquide SA, Sasol Ltd., and The Linde Group defines the competitive landscape of the global syngas and derivatives market . Over the coming years, the rivalry between these players is likely to increase substantially due to their rising involvement in mergers, acquisitions, and partnerships. According to the research report, the
Containerized Solar Generators Market - Global Industry Report, 2027
Albany, NY - The global containerized solar generators market prognosticated to witness a robust growth in coming years. The nearness of a few players renders a high level of discontinuity and extreme aggressive contention among market players in the worldwide containerized solar generators market, as researched by Transparency Market Research (TMR) in another report. According to the report, HCI Energy LLC, Ecosphere Technologies Inc., Photon Energy NV, AMERESCO Inc., REC Solar Holdings
Rooftop Solar PV market – Global Industry Report, 2025
Albany, NY - Rooftop solar PV offers an efficient, emission-free renewable source of electricity which can be used off-grid as well as on-grid. Rooftop solar PV offers an effective and efficient method for reducing carbon footprint and generating electricity from solar radiation. The market for rooftop solar PV has been rapidly increasing with the support of government subsidies and tax credits. The rooftop solar PV market have attracted large number

All 5 Releases


More Releases for Batteries

AGM batteries compared with lithium-ion batteries, increasing demand for high po …
The global AGM battery market size is estimated to grow from USD 10.2 billion in 2019 to USD 13.9 billion by 2025; it is expected to grow at a CAGR of 5.3%. The growth of this market is expected to be driven by the inherent benefits of AGM batteries such as their maintenance free & non-spillable nature, upsurge in renewable energy investments, increasing demand for energy storage solutions for high-current
Global NiMH Batteries Industry Market Analysis & Forecast
Global NiMH Batteries Industry Market Analysis & Forecast 2018-2023, the revenue is valued at USD XX million in 2017 and is expected to reach USD XX million by the end of 2023, growing at a CAGR of XX% between 2018 and 2023. The production is estimated at XX million in 2017 and is forecasted to reach XX million by the end of 2023, growing at a CAGR of XX% between
Boat Batteries Market Key Players: Century Yuasa Batteries Pty Ltd., Lifeline Ba …
Boat Batteries Market: Introduction Boat batteries help a boat getting started or stay in continuous motion by supplying the required power. Unlike other batteries, such as a car battery, boat batteries contain thick plates and hence, generate less cranking power and maximum reserve capacity. The intriguing part is that a boat battery with highest power capacity is of the same size as a boat battery with lowest power capacity. Additionally, there
Boat Batteries Market to Witness Huge Growth by 2025| Lifeline Batteries, Inters …
HTF MI recently Announced Global Boat Batteries study with 100+ market data Tables and Figures spread through Pages and easy to understand detailed TOC on "Boat Batteries. Global Boat Batteries research allows you to get different methods for maximizing your profit. The research study provides estimates for Global Boat Batteries Forecast till 2025*. Some of the Leading key Company’s Covered for this Research are Century Yuasa Batteries, Lifeline Batteries, Interstate
VRLA Batteries Market Report 2018
In this report, we covers the present scenario (with the base year being 2017) and the growth prospects of global VRLA Batteries market for 2018–2023. A VRLA battery, more commonly known as a sealed lead-acid (SLA), gel cell, or maintenance free battery, is a type of lead-acid rechargeable battery. Due to their construction, the Gel and AGM types of VRLA can be mounted in any orientation, and do not require constant
Global Nickel cadmium Batteries Market Forecast 2018-2025 Interberg Batteries, P …
Recently added detailed market study "Global Nickel cadmium Batteries Market" examines the performance of the Nickel cadmium Batteries market 2018. It encloses an in-depth Research of the Nickel cadmium Batteries market state and the competitive landscape globally. This report analyzes the potential of Nickel cadmium Batteries market in the present and the future prospects from various angles in detail. The Global Nickel cadmium Batteries Market 2018 report includes Nickel cadmium Batteries