Press release
Global Grid Connected Battery Energy Storage Market Rising Trends, Huge Demand, Business Strategies, High Growth Rate by 2027
Global Grid Connected Battery Energy Storage Market 2021An electrical grid is a network, which delivers electricity to the generator. Battery storage provides flexibility for the end user's application such as solar power and wind power. Grid storage is subdivided as pre-storage (FOM) and post-storage (BTM). The front of the meter is for public energy storage, use system, etc. and behind the meter storage is for residential and commercial use. The global battery storage market generated US $ 996.8 million in 2017 and is expected to reach US $ 4,242.4 million by 2025. The market is expected to produce a CAGR of 20.0% over the forecast period. Increased demand for renewable energy is one of the factors contributing to market growth, the use of renewable energy has increased the need for battery storage systems on power grids. According to the International Renewable Energy Agency, in 2015, global renewable energy production was 5.5 million Giga watt hour from 5.3 million Giga watt hour in 2014.
The market size of the global battery power system is expected to grow at a CAGR of 32.8% from 2020 to 2025, reaching USD 12.1 billion by 2025 from USD 2.9 billion by 2020.
On a geographical basis, the grid-connected battery market is divided into North America, Europe, Asia Pacific, Latin America, the Middle East and Africa. The battery market connected to the Asia Pacific region held a prominent position in the global market in 2017 and is expected to maintain its dominance throughout the forecast period. China, India and Japan are the growth engines in the Asia Pacific grid-connected battery market. Increasing investment in smart city plans is one of the factors driving the growth of grid in the battery storage market in the region. The integration of smart grid technology to improve the transmission and distribution of high-quality electricity infrastructure in smart cities has accelerated the market in the region. For example, according to the Indian government the Union Budget for 2018-19, the government has selected 99 cities under the smart city program and will provide a $ 3.1 billion fund to develop these cities. In addition, increasing electricity generation in Asia Pacific countries has also accelerated the demand for connected battery storage.
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Major players working in the global Global Grid Connected Battery Energy Storage Market Include : nBYD 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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Key Points for Geographical Analysis:
Details and data related to usage level in each region
Moderate increase in consumption rate
Expected growth rate of regional markets
Forward growth of market share in each region
Geographical contribution to market capitalization
The report answers questions such as:
1. What is the market size and forecast of the Global Global Grid Connected Battery Energy Storage Market?
2. What factors hinder the impact of COVID-19 in shaping the Global Global Grid Connected Battery Energy Storage Market during the forecast period?
3. What products / components / applications / areas should you invest in the forecast period in the Global Global Grid Connected Battery Energy Storage Market?
4. What is the competitive window for opportunities in the Global Global Grid Connected Battery Energy Storage Market?
5. What are the technical and regulatory trends in the Global Global Grid Connected Battery Energy Storage Market?
6. What is the market share of the leading retailers in the Global Global Grid Connected Battery Energy Storage Market?
7. What methods and strategies are considered appropriate to enter the Global Global Grid Connected Battery Energy Storage Market?
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