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Global Battery Energy Storage System Market to Reach $8.54 Billion by 2023 - Driven by the Increasing Demand for Grid-Connected Solutions - ResearchAndMarkets.comThe "Battery Energy Storage System Market by Element, Battery Type, Connection Type, Ownership, Application, and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering. The battery energy storage system market is expected to grow from USD 1.98 Billion in 2018 to reach USD 8.54 Billion by 2023, at a CAGR of 33.9% between 2018 and 2023. Factors that drive 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. Major factors restraining the growth of the battery energy storage system market include high capital investment required for the deployment and lack of the availability of vendors and project financing. Key market players such as ABB (Switzerland), LG Chem (South Korea), NEC (Japan), Panasonic (News - Alert) (Japan), Samsung SDI (South Korea) have adopted strategies such as product launches and developments, expansions, acquisitions, agreements, contracts, collaborations, and partnerships to gain a competitive edge in the battery energy storage system market and expand their distribution networks. Segmetational Analysis & Forecasts
Key Topics Covered 1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 5 Market Overview 6 Industry Trends 7 Battery Energy Storage System Market, By Element 8 Battery Energy Storage System Market, By Battery Type 9 Battery Energy Storage System Market, By Connection Type 10 Battery Energy Storage System Market, By Ownership 11 Battery Energy Storage System Market, By Application 12 Geographic Analysis 13 Competitive Landscape 14 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/wsctpz/global_battery?w=4 View source version on businesswire.com: https://www.businesswire.com/news/home/20180606006247/en/ |