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Global Energy Storage Market to Grow USD 164704.67 Millions by 2025, at a CAGR of 12.58% - Valuates Reports
[November 07, 2019]

Global Energy Storage Market to Grow USD 164704.67 Millions by 2025, at a CAGR of 12.58% - Valuates Reports


BANGALORE, India, Nov. 7, 2019 /PRNewswire/ -- ENERGY STORAGE MARKET OVERVIEW:

The market for global energy storage is on the increase. This bloom in the energy storage market can be attributed to hundreds of millions of dollars of money flowing into research, development, and marketing, from companies such as Tesla, CATL, and LG Chem. 

Valuates_Reports

Furthermore, utilities adopting capacity storage, large-scale deployment of solar projects, and utility-scale deployment in China and the rest of Asia are contributing to the growth of the global energy storage market.

Global Energy Storage Market to grow from USD 71831.56 Millions in 2018 to USD 164704.67 Millions by 2025, at a Compound Annual Growth Rate (CAGR) of 12.58%. The year 2018 has been considered as the base year, while the forecast period is up to 2025.

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ENERGY STORAGE MARKET TRENDS

  • Development of new market opportunities and value streams opened up by favourable federal and state regulations.
  • Expanding applications of energy storage devices.

COMPETITIVE NEWS FEED ANALYSIS OF GLOBAL ENERGY STORAGE MARKET

The global energy storage market research report closely tracks the recent developments by the dominating players and innovation profiles in the market including:

  • Guoxuan High Technology and Jiyuan Software sign a contract to jointly develop Energy Storage Market (2019-10-16)
  • CATL enters U.S. energy storage market with large-scale LFP batteries (2019-09-23)
  • Tesla Unveils New Energy Grid Storage Product Called 'Megapack' (2019-07-30)

View Full Report @ https://reports.valuates.com/market-reports/360I-Auto-6Q18/global-energy-storage-market

REGION WISE ENERGY STORAGE MARKET ANALYSIS

  • Asia-Pacific is expected to remain dominant over the forecast period in the energy storage industry. The region consists of two main types of power grids, each with different characteristics and energy storage systems opportunities. On one side are highly developed nations, such as Japan, South Korea, New Zealand, and Australia, and other major cities with advanced grids that operate reliably and utilize the advanced technologies.
  • A wave of goals and investment in greenhouse gas mitigation, renewable energy supply, and clean technology by sub-national government entities, non-profits, and businesses has helped drive the continued growth of renewable energy and efficiency in the U.S.
  • Power utilities are the largest revenue-generating segment in Europe's overall market share of energy storage systems as high initial investments are needed for large-scale storage systems, and they also have better access to energy infrastructure. However, energy storage in the residential sector is gaining popularity in European countries such as Germany, Italy, and the UK due to government subsidies on the installation of residential solar plus storage systems, which would spur Europe's revenue forecast period for energy storage systems.

GLOBAL ENERGY STORAGE MARKET, BY GEOGRAPHY









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