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Technavio: Increased Investments by Market Vendors Will Boost the Li-ion Battery Market for ESS in EMEA Through 2019Technavio has published a new report on the Li-ion battery market for ESS in EMEA, which is expected to grow at a CAGR of over 31% from 2015-2019. About the Report The new Technavio report indicates that the demand for Li-ion batteries in grid energy storage has experienced strong growth because of increased fluctuations in supply and demand for electricity. Li-ion batteries can store excess power and make it available during peak hours. "With increased growth in renewable energy production, especially in wind and solar energy, the need for grid energy storage has increased," says Faisal Ghaus, Vice President of Technavio. The latest report by Technavio also emphasizes energy storage system (ESS) and their benefits, which include a reduction in the number of outages and increased reliability and efficiency of the power grid. "Many areas in the Middle East and Africa frequently experience issues like power outages and inconsistent power supplies, which can be addressed with the help of energy storage system," adds Ghaus. Market Scope and Calculation of Market Size The new Technavio report covers the present scenario and growth prospect of the Li-ion battery market for ESS in EMEA from 2015-2019. To calculate the market size, we consider the overall Li-ion battery based ESS installation across EMEA. Key Information Covered in the Report:
Technavio currently has more than 3000 market research reports on a huge range of topics, including 300+ reports on the Li-ion battery market:
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View source version on businesswire.com: http://www.businesswire.com/news/home/20150709005451/en/ |
