Battery Energy Storage Systems Market Size, Industry Outlook and Global Forecast to 2027

by Sarita Sonavane on Aug 3, 2021 Business 54 Views

The report on Battery Energy Storage Systems Market, according to Value Market Research, covers industry outlook, size, share, growth, trends, and estimation till 2027. In addition to this, the report provides an in-depth analysis of each segment with respect to the country as well as region coupled with market dynamics. Further, this report also highlights key players along with their market share and recent development.

The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the battery energy storage systems market include ABB, LG Chem, NEC (Japan), Panasonic, Samsung SDI. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.

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Market Dynamics

Factors such as 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 are likely to boost the growth of battery energy storage system market. Factors like high capital investment required for the deployment and lack of the availability of vendors and project financing is restraining the market growth. Whereas an increasing focus on rural electrification worldwide, large storage requirements in data centers are expected to offer opportunities to the market.

This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis, and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of battery energy storage systems.

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Market Segmentation

The broad battery energy storage systems market has been sub-grouped into technology, type and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.

By Technology

  • Lithium-Ion Batteries
  • Sodium–Sulfur Batteries
  • Lead-Acid Batteries
  • Flow Batteries
  • Others

By Type

  • On-Grid Connection
  • Off-Grid Connection

By Application

  • Residential
  • Non-Residential
  • Utilities
  • Other Applications

Regional Analysis

Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for battery energy storage systems in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.

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