Aug 06, 2018 (Heraldkeeper via COMTEX) — New York, August 07, 2018: The scope of the report includes a detailed study of Battery Energy Storage System Market with the reasons given for variations in the growth of the industry in certain regions.
The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global market. Key players profiled in the report ABB Ltd., General Electric Co., Tesla Motors Ltd, and Siemens AG. Company profile includes assign such as company summary, financial summary, business strategy and planning, SWOT analysis and current developments.
The Battery Energy Storage System Market is expected to exceed more than US$ 9 Billion by 2024 at a CAGR of 34% in the given forecast period.
The battery energy storage system market has expanded significantly in recent years owing to increasing demand for renewable energy sources. Some necessary applications of battery energy storage systems include electrification of grid and this needs great deal of renewable energy resources, therefore contribute to the consistent increase in demand for battery energy storage system. Gradual advancement in energy storage technology leads to important value reduction and enhances the efficiency of battery energy storage system. This, in turn, is probably going to boost its demand within the market throughout the forecast period.
The Battery Energy Storage System Market is segmented on the Basis of Element Type, Connection Type, Application Type, Ownership Type, Type and Regional Analysis. By Element Type this market is segmented on the basis of Battery and Hardware.
By Connection Type this market is segmented on the basis of On-Grid and Off-Grid. By Application Type this market is segmented on the basis of Residential, Non-Residential and Utilities. By Ownership Type this market is segmented on the basis of Customer Owned, Third-Party Owned and Utility Owned. By Type this market is segmented on the basis of Lithium-Ion Batteries, Sodium-Sulphur Batteries, Advanced Lead-Acid Batteries and Flow Batteries. By Regional Analysis this market is segmented on the Basis of North America, Europe, Asia-Pacific and Rest of the World.
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