Global Battery Energy Storage System Market Expected to Grow at a CAGR of 6.5% during the Forecast Period (2017-2025)
According to Goldstein Research, Global battery energy storage system market is expected to grow at a CAGR of 6.5% over the forecast period 2017-2025 to reach USD 10.0 billion by 2025. Global battery energy storage system market tends to be driven by the factors such as development of micro grids and smart grids, manufacturing of robust and reliable power electronics and increasing use of batteries in transportation sector and in residential applications. Global Battery energy storage system marke t segmentation has been done on the basis of technology, battery type, solution, end users and geography. Global battery energy storage system market segmentation based on battery type, signify lithium ion battery segment acquiring largest market share i.e. 60% in 2017 of the global battery energy storage system market owing to the fact that they have longer lifespan, greater efficiency and low maintenance. Battery energy storage system market is largely dominated by Asia Paci...