Lucintel Forecasts The Global Battery Energy Storage System Market To Reach $33 Billion By 2030

By Author: Lucintel LLC
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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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