Albany, NY -- (SBWIRE) -- 07/06/2018 -- This report studies the global Battery Energy Storage market status and forecast, categorizes the global Battery Energy Storage market size (value & volume) by key players, type, application, and region. This report focuses on the top players in North America, Europe, China, Japan, Southeast Asia India and Other regions (Middle East & Africa, Central & South America).
The lithium-ion batteries have a long lifespan of 510 years, and up to 98% efficiency (i.e., only 2% of electrical charge is lost during use). The lithium-ion batteries have very high energy and power densities, which leads to lower weight with low standby losses, and high life expectancy. Lithium-ion batteries continue to hold a large size of the battery energy storage system market owing to its features such as high energy density, self-discharge capability, low maintenance requirement, less weight, and high life expectancy. Battery energy storage system is well suited for smoothing the variable output of renewables and controlling the rapid ramping up and down of solar as well as wind generation. The grid operators and regulators are aware of the importance of battery energy storage systems and their ability to cater through multiple services. The utility operators are using these systems in their resource planning processes, which reduces the system costs and increases storage capacity.
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The major drivers for the growth of the market include the increasing demand for grid-connected solutions, high demand for the lithium-ion technology in the renewable energy industry, and declining prices of lithium-ion batteries. However, the factors such as the installation of battery energy storage systems in remote locations pose a challenge for the players in the market. the Americas dominated the battery energy storage market for smart grid and accounted for around 60% of the total market share. Much of the regions growth can be attributed to the increasing use of smart grids and the increasing need for energy storage for distributed systems. The governmental support across different countries in the region and the growing investments in the development and deployment of integrated smart grid systems is expected to drive the demand for smart energy in the region in the coming years.
The global Battery Energy Storage market is valued at 1520 million US$ in 2017 and will reach 14900 million US$ by the end of 2025, growing at a CAGR of 33.0% during 2018-2025.
The major players covered in this report
- Siemens
- ABB
- Samsung SDI
- Bosch
- BYD
...
On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
- Li-Ion Batteries
- Lead-Acid Batteries
- Sodium Sulfur Batteries
On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, sales volume, market share and growth rate for each application, including
- Residential
- Non-Residential
- Utilities
- Others
View Complete TOC with Tables and Figures at: https://www.researchmoz.us/global-battery-energy-storage-sales-market-report-2018-report.html/toc
Key Stakeholders
- Battery Energy Storage Manufacturers
- Battery Energy Storage Distributors/Traders/Wholesalers
- Battery Energy Storage Subcomponent Manufacturers
- Industry Association
- Downstream Vendors
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