Boonton, NJ -- (SBWIRE) -- 10/17/2018 -- Global Off-Grid Energy Storage Systems Market Analysis
According to Verified Market Intelligence, the Global Off-Grid Energy Storage Systems Market was valued at USD 28.97 billion in 2017 and is projected to reach USD 51.81 billion by 2025, growing at a CAGR of 7.5% from 2018 to 2025.
What are Off-Grid Energy Storage Systems?
The volatile environment conditions requires a need for off grid energy storage systems such as batteries, inverters, generators, etc., as large electricity fluctuations can lead to black outs. Off grid Energy storage can be best described as the battery storage grids which can be utilized when electricity shuts down or there is high voltage power supply fluctuations. Off grid energy storage services are back up electricity generating units which can be installed to meet the increasing energy demands. Growing demand from the telecom sector is boosting off-grid energy storage systems market
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Global Off-Grid Energy Storage Systems Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Growing digitization and automation and growing needs for energy supply are the potential drivers for the global off-grid energy storage systems market. On the other hand, expensive installation charges might hinder the market to grow at a global level and acts a prospective restraint for the market.
Verified Market Intelligence narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The "Global Off-Grid Energy Storage Systems Market" is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market. This can be of a great use in gaining knowledge about the cutting-edge technologies in the market.
Global Off-Grid Energy Storage Systems Market Competitive Landscape
The "Global Off-Grid Energy Storage Systems Market" study report will provide a valuable insight with an emphasis on global market including some of the major players such as Amperex Technology, Aquion Energy, Boston-Power, CEA (Commissariatal energie atomique), China Aviation Lithium Battery, EnerSys, GE Renewable Energy, Green, LG Chem, Mitsubishi Heavy Industries, NEC Energy Solutions, NRG Energy. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above mentioned players globally.
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Global Off-Grid Energy Storage Systems Market Segmentation, by Product
On the basis of Product, Global Off-Grid Energy Storage Systems Market is categorized into:
Lithium-ion Batteries
Lead-acid Batteries
Sodium-based Batteries
Others
Lithium-ion batteries accounted for the majority share of the market in 2017 followed by lead-acid batteries segment and is projected to grow at the highest CAGR over the forecast period.
Global Off-Grid Energy Storage Systems Market Segmentation, by Application
On the basis of application, Global Off-Grid Energy Storage Systems Market is categorized into:
Residential Backup Power
Industrial UPS
Unattended Equipment
Other Applications
Residential backup power accounted for the majority of the market in the year 2017. This trend is expected to continue over the forecast period.
Global Off-Grid Energy Storage Systems Market Geographic Scope
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia Pacific
Latin America
Brazil
Rest of the World
Table Of Content
1 Introduction Of The Global Off-Grid Energy Storage Systems
2 Executive Summary
3 Research Methodology Of Verified Market Intelligence
4 The Global Off-Grid Energy Storage Systems Outlook
5 The Global Off-Grid Energy Storage Systems, By Systems
6 The Global Off-Grid Energy Storage Systems, By Service
7 The Global Off-Grid Energy Storage Systems, By Verticals
8 The Global Off-Grid Energy Storage Systems, By Applications
9 The Global Off-Grid Energy Storage Systems, By Geography
10 The Global Off-Grid Energy Storage Systems Competitive Landscape
Reason to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Off-Grid Energy Storage Systems market
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the Off-Grid Energy Storage Systems market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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