Global Energy Storage Systems Market Anticipated to Grow at a CAGR of 7.2% Over 2016-2024 from USD 170.0 Billion in 2016
According to Goldstein Research, global energy storage systems market is expected to reach USD 296.0 billion by 2024 from USD 170.0 billion in 2016, growing at a CAGR of 7.2% over the forecast period 2016-2024. Major driving factor for the expansion of energy storage systems market is the growing spending on renewable energy across the world. Global energy storage systems market segmentation has been done on the basis of technology, application, end user and geography. energy storage systems market Based on technology, mechanical & electrochemical energy storage systems segment are generating and distributing maximum power energy across the globe, where mechanical energy storage system occupies 24% share of global energy storage systems market in 2016. Global energy storage systems market is largely dominated by the Asia Pacific with a market share of 10.0% in 2016. Whereas Middle East and Africa are projected to witness a rapid growth with a CAGR of 9.0% over the forecast ...