Skip to main content

Grid Connected Battery Energy Storage Market Strategies and Forecasts, Overview And Companies By 2026

Grid connected battery energy storage market is expected to exhibit CAGR of 20.0% in the forecast period, according to a new market research report, Global Grid Connected Battery Energy Storage Market, By Battery Type (Lithium Ion Battery, Lead Acid Battery, and Others), By End Users (Residential, Industrial, Utilities, and Others) and by Geography.

Increasing demand for grid connected solutions is one of the major driving factors for growth of the market. The integration of grid connected system with renewable energy permits to provide the power/electricity to building, houses etc. For instance, in 2016, the Government of India announced that, Indian government and the World Bank singed a US$ 625 million credit agreement, which is expected to help Indian government to generate an electricity from widespread installation of rooftop solar photo voltaic. The project financed installation of 400 MW of grid connected rooftop solar photovoltaic in India. Hence, this increasing installation of solar photo voltaic provides clean, renewable energy, and reduce greenhouse gas emissions by displacing thermal generation.


On the basis of battery type, the lithium ion battery held the dominant position in 2017 in the market and is expected to retain its dominance throughout the forecast period. This is owing to various advantages such as high energy and power density in terms of volume, high charge and discharge efficiency, low maintenance, and lighter weight as compared to nickel metal-hydride and nickel-cadmium batteries. Therefore, lithium ion battery is increasing been adopted in grid connected battery storage, thus aiding in growth of the segment.

Asia Pacific grid connected battery energy storage market held the dominant position in 2017 and is expected to retain its dominance throughout the forecast period. India, China, and Japan are some of the major countries in this region. Increasing electricity production in the region for various applications is a major factor aiding growth of the market in the region. According to Coherent Market Insights, in 2017, near 11,578 terawatt hours of electricity has been produced in Asia Pacific region up from 10,996 terawatt hours electricity production in 2016. By 2022, it is estimated that the Asia Pacific electricity production will reach up to 14,184 terawatt hours. In addition to this, increasing government investment for production of renewable energy also accelerates growth of the market in this region. For instance, in February 2018, the Government of India announced that they have launched the world largest solar park in Karnataka, India. The world largest solar park was set up at an investment of US$ 2.53 billion

North America held the second position in the global grid connected battery energy storage market. The U.S. and Canada are growth engines in the North America market. Increasing production of renewable energy in this region plays a key role for growth of the market. For instance, according to Coherent Market Insights, in 2017, the North America production of electricity from renewable resources was 1,228 terawatt hours and is expected to reach 1,283 terawatt hours by 2022.


Major players operating in the global grid connected battery energy market include NGK Insulators Ltd., BYD Company, NEC Corporation, Samsung SDI Co., LG Electronics Inc., Xtreme Power, Saft Groupe S.A., AES Energy Storage, Alevo, Delco, Altair Nanotechnologies Inc., EnerDel, GNB Corporation, Ecoult, and Powertree Services Inc.
Labels:

Comments

Post a Comment

Popular posts from this blog

Application Delivery Network Market 2026 Focus On Research Methodology, Market Dynamics

Application Delivery Network is a set of technologies, which provides application availability, security, visibility, and acceleration. The application development network is primarily implemented to work with dynamic content. The major advantage of application delivery network is that it helps in improving the performance of Internet traffic. Increasing data traffic is major factor driving growth of the market. According to Coherent Market Insights, in 2016, 96,054 PB IP data traffic was generated per month and is projected to reach 278,108 PB IP data traffic by 2021, worldwide. Hence, increasing data traffic have accelerated the demand for application delivery network. Download PDF Copy @ https://www.coherentmarketinsights.com/insight/request-pdf/1390 Increasing adoption of mobile traffic is major factor driving growth of the market Increasing adoption of smart phones by user is one of the major reason for mobile data traffic. According to the Coherent Market Insights...
Post a Comment
Read more

Data Center Virtualization Market by 2026 Capacity, Production, Revenue & Regional Analysis

Data center virtualization is a process of designing, developing or deploying a data center on cloud computing or virtualization technology. Cost saving is one of the major factors for growth of the data center virtualization market. This is owing to the fact that data center virtualization helps to reduce hardware installation, and reduces electricity cost by providing hosted platform. Therefore, it aids small and medium sizes companies to reduce their expenses on IT department. Download PDF To explore detail study @ https://www.coherentmarketinsights.com/insight/request-pdf/1245 Advantages of disaster recovery provided by data center virtualization plays a key role for growth of market in various vertical such as banking, healthcare, education, and retail. Disaster recovery-as-a-service protects company information and data from disasters by generating multiple backups. Increasing demand for data either structured or unstructured, for analyses of the market trend, customer de...
Post a Comment
Read more

APAC Electric Charging Station Market : Release Latest Trends & Industry Vision 2026

The APAC electric charging station market was valued at US$ 1,238.4 million in 2017 and is expected to increase to US$ 3,785.8 million by 2026, registering a CAGR of 30.3% over the forecast period from 2018 to 2026, according to APAC Electric Charging Station Market Report, by Charging Station Type (AC Charging, DC Charging, and Wireless Charging), by Technology  Type (Level 1, Level 2, and Level 3 ), by End User (Private and Public), and by Country (China, Japan, ASEAN, Australia, South Korea, and Rest of Asia Pacific), published by Coherent Market Insights. Request Sample Copy @ https://www.coherentmarketinsights.com/insight/request-sample/2473 Increasing awareness about pollution hazards and efforts taken to reduce the same is expected to drive growth of the APAC electric charging station market. Dependence on fuels that are imported is one of the major issues faced by Asian countries. Usage of electric vehicles helps in reducing the use of fuel. Moreove...
Post a Comment
Read more