Global Off-Grid Energy Storage Systems Market
Off-Grid Energy Storage Systems Market Size And Forecast
According to Verified Market Research, The Global Off-Grid Energy Storage Systems Market was valued at USD 31.10 Billion in 2018 and is projected to reach USD 58.47 Billion by 2026, growing at a CAGR of 7.5% from 2019 to 2026.
Factors influencing the off-grid energy storage market
Factors that are driving the growth of the market include Growing Deployment of Renewable Energy and Growing Solar PV Markets. One of the most important drivers of utility-scale energy storage systems is the substantial growth in the amount of renewable energy being deployed around the world. Variable forms of power generation present challenges to local electrical grids, which typically are not designed to handle variable generation output and are often already stretched-out in delivering the existing electricity already online.
Global Off-Grid Energy Storage Systems Market Segment Analysis
The Global Off-Grid Energy Storage Systems market can be segmented into product and application.
Off-Grid Energy Storage Systems Market Competitive Landscape
Some of the major players involved in the Global Off-Grid Energy Storage Systems Market are Amperex Technology, Aquion Energy, Boston-Power, CEA (Commissariatal energie atomique), EnerSys, GE Renewable Energy, Green Charge, LG Chem, Mitsubishi Heavy Industries, NEC Energy Solutions, and NRG Energy.
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