The 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.
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Browse 75 market data tables and 77 figures spread through 165 pages and in-depth TOC on “Battery Energy Storage System Market"
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.
The transportation sector expected to lead the battery energy storage system market
The residential sector expected to grow at a high rate between 2016 and 2022
APAC expected to hold the largest market share by 2022
This research report categorizes the global battery energy storage system market on the basis of battery type, connection type, ownership, revenue source, application, and geography. This report describes the drivers, restraints, opportunities, and challenges with respect to the battery energy storage system market. The Porter’s five forces analysis has been included in the report with a description of each of its forces and their respective impact on the battery energy storage system market. Brief information on the research methodology implemented for the report can be found in the report description provided on the website.
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1-888-600-6441
Email: sales@marketsandmarkets.com
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