According to a market report by Lucintel, the future of the global battery energy storage system market looks promising with opportunities in the residential, non-residential, and utility industries. The global battery energy storage system market is expected to reach an estimated $33 billion by 2030 from $18 billion in 2023 at a CAGR of 7% from 2023 to 2030. The major drivers for this market are 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.
A more than 150-page report to
understand trends, opportunity and
forecast in battery energy storage system market to 2030 by battery type
(lithium-ion batteries, sodium–sulfur batteries, flow batteries, advanced, and
lead-acid batteries), element (battery and hardware), ownership (utility owned,
customer owned, and third-party owned), connection type (on-grid, connection,
and off-grid connection), end use industry (residential, non-residential,
utilities, and others), and region (North America, Europe, APAC and the Rest of
the World)
Lucintel
forecasts that lithium-ion batteries will remain the largest segment due to its
features, such as, high energy and power density which leads to low standby
losses and a high life expectancy.
Utilities
will remain the largest application due to the increasing demand for a reliable
and efficient supply of electricity in most regions.
Download
sample by clicking on battery
energy storage system market.
North
America will remain the largest market due to increasing industrialization and
urbanization, new electrification targets, and renewable energy generation
capacity
Panasonic,
Samsung SDI, AEG, ABB, LG, General Electric, Siemens, Tesla, Hitachi Energy are
the major suppliers in the battery energy storage system market.
This unique research
report will enable you to make confident business decisions in this globally
competitive marketplace. For a detailed table of contents, contact Lucintel at
+1-972-636-5056 or write us at helpdesk@lucintel.com. To get access of more than 1000 reports at fraction of cost
visit Lucintel's Analytics
Dashboard.
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal,
ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1-972-636-5056
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