The grid connected battery storage systems provides uninterruptible power and reduces the energy costs leading to better power management.
The increasing demand for renewable energy and rising diesel costs are significantly intensifying the need for battery storage systems in the power grids. Increased knowledge of the benefits provided by these installations among the utilities would make these storage batteries more competitive in the market.
It is expected that the rapidly increasing levels of renewable energy penetration in countries across the globe will help spur energy storage adoption. In the future, it is expected that photovoltaic (PV) plus storage will create the largest opportunity market for BESS.
In the Asia-Pacific region, South Korea led the regional market with a share of 31.3% with respect to projects installed up to 2017. South Korea is expected to show promising growth in the forecast period. This is because the South Korean government has earmarked KRW40 trillion ($35.7 billion) for the renewable energy sector over the next five years, as it unveiled a plan to reward solar plant operators for installing energy storage facilities.
In 2019, the market size of Grid-Connected Battery Storage is xx million US$ and it will reach xx million US$ in 2025, growing at a CAGR of xx% from 2019; while in China, the market size is valued at xx million US$ and will increase to xx million US$ in 2025, with a CAGR of xx% during forecast period.
In this report, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Grid-Connected Battery Storage.
This report studies the global market size of Grid-Connected Battery Storage, especially focuses on the key regions like United States, European Union, China, and other regions (Japan, Korea, India and Southeast Asia).
This study presents the Grid-Connected Battery Storage production, revenue, market share and growth rate for each key company, and also covers the breakdown data (production, consumption, revenue and market share) by regions, type and applications. history breakdown data from 2014 to 2019, and forecast to 2025.
For top companies in United States, European Union and China, this report investigates and analyzes the production, value, price, market share and growth rate for the top manufacturers, key data from 2014 to 2019.
In global market, the following companies are covered:
Market Segment by Product Type
Battery Charge Controller
Sub Panels For Load Circuits
Market Segment by Application
Wind Power Energy
Key Regions split in this report: breakdown data for each region.
Rest of World (Japan, Korea, India and Southeast Asia)
The study objectives are:
To analyze and research the Grid-Connected Battery Storage status and future forecast in United States, European Union and China, involving sales, value (revenue), growth rate (CAGR), market share, historical and forecast.
To present the key Grid-Connected Battery Storage manufacturers, presenting the sales, revenue, market share, and recent development for key players.
To split the breakdown data by regions, type, companies and applications
To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
To identify significant trends, drivers, influence factors in global and regions
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
In this study, the years considered to estimate the market size of Grid-Connected Battery Storage are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025