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Battery Energy Storage System Market worth 6.81 Billion USD by 2022

The battery energy storage system market was valued at USD 747.61 Million in 2015 and is expected to grow at a CAGR of 37.0% between 2016 and 2022. The base year used for the study is 2015 and the forecast period is between 2016 and 2022. This report provides a detailed analysis of the battery energy storage system market segmented on the basis of battery type, connection type, revenue source, ownership, application, and geography. The increasing demand for grid-connected solutions and growing electric vehicle market is expected to impact the market in the future.<br><br>The ecosystem of the battery energy storage system market includes the raw material provider and component manufacturer, battery energy storage system manufacturers, system integrators, and distributors. The key players in the market include ABB Ltd. (Switzerland), AEG Power Solutions (The Netherland), General Electric Co. (U.S.), Hitachi ltd (Japan), LG Chem. (South Korea), NEC Corporation (Japan), Panasonic Corporation (Japan), Samsung SDI Co., ltd. (South Korea), Siemens AG (Germany), and Tesla Motors Ltd. (U.S.) among others.<br><br>In 2015, the utility application held the largest market in Asia-Pacific, whereas the residential application is expected to grow at a high CAGR between 2016 and 2022. The major reasons driving the growth of the battery energy storage system market in the APAC region is the large number energy storage installations in countries such as China, Japan, and India.

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Battery Energy Storage System Market worth 6.81 Billion USD by 2022

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  1. Battery Energy Storage System Market worth USD 6.81 Billion by 2022, growing at a CAGR of 37.0% between 2016 and 2022

  2. About our Report • The battery energy storage system market is expected to grow at a CAGR of 37.0% between 2016 and 2022 and is expected to reach USD 6.81 Billion by 2022. The growth of the battery energy storage system market is driven by the increasing demand for grid connected solutions, growing electric vehicle market, high requirement of lithium-ion batteries in various applications, and government support. • The growing implementation of batteries in battery electric vehicles (BEV) and plug-in hybrid electric vehicles (PHEV) is expected to support the growth of the BESS market. The implementation of battery types such as lithium-ion, Nickel-cadmium (NiCd), Nickel-metal hydride (NiMh), Li-ion polymer is driving the transportation application of the battery energy storage system market. The lithium-ion batteries gain huge traction as they provide high energy and power density in terms of volume and high charge/discharge efficiency and are more lightweight than other batteries such as lead-acid batteries. These factors are supporting the growth of battery energy storage system in transportation sector.

  3. Inside of Report • Browse: • 75 market data tables. • 77 figures spread through 165 pages. • in-depth TOC on “- Battery Energy Storage System Market - Global Forecast to 2022" • In 2015, the utility application held the largest market in Asia-Pacific, whereas the residential application is expected to grow at a high CAGR between 2016 and 2022. The major reasons driving the growth of the battery energy storage system market in the APAC region is the large number energy storage installations in countries such as China, Japan, and India. • The APAC region offers potential growth opportunities as there is a rise in the adoption of battery energy storage system owing to the attractive residential sector. Some of the major battery energy storage system developers located in Asia-Pacific are Samsung SDI (South Korea), LG Chem. (South Korea), Hitachi ltd (Japan), Panasonic Corporation (Japan), and NEC Corporation (Japan).

  4. Table of Content 1 Introduction (Page No. - 15)    1.1 Objectives of the Study     1.2 Market Definition     1.3 Scope of the Study            1.3.1 Market Segmentation           1.3.2 Years Considered for the Study    1.4 Currency     1.5 Limitations     1.6 Stakeholders 2 Research Methodology (Page No. - 19)    2.1 Research Data            2.1.1 Secondary Data 15 Appendix (Page No. - 157)     15.1 Insights of Industry Experts      15.2 Discussion Guide      15.3 Knowledge Store: Marketsandmarkets’ Subscription Portal      15.4 Introducing RT: Real-Time Market Intelligence      15.5 Available Customizations      15.6 Related Reports

  5. Structured Cabling Download Free Sample Pages :- http://www.marketsandmarkets.com/requestsample.asp?id=112809494 This detailed market research study provides detailed qualitative and quantitative analysis of the Cryostat Market. It provides a comprehensive review of major market drivers, restraints, opportunities,, challenges, and key issues in the market.

  6. Company Coverage • ABB Ltd. (Switzerland) • AEG Power Solutions (The Netherland) • General Electric Co. (U.S.) • Hitachi ltd (Japan) • LG Chem. (South Korea) • NEC Corporation (Japan) • Panasonic Corporation (Japan) • Samsung SDI Co., ltd. (South Korea) • Siemens AG (Germany) • Tesla Motors Ltd. (U.S.)

  7. Summary The battery energy storage system market is expected to grow at a CAGR of 37.0% between 2016 and 2022 and is expected to reach USD 6.81 Billion by 2022. The growth of the battery energy storage system market is driven by the increasing demand for grid connected solutions, growing electric vehicle market, high requirement of lithium-ion batteries in various applications, and government support. The requirement of high investment acts as major restraining factor for the battery energy storage system market. In the battery energy storage system market, LG Chem Ltd. is considered to be a leading provider of lithium-ion batteries. It offers products mainly for the battery segment. LG Chem. has won the world’s highest amount of second round order contracts for its automotive battery business. It continuously focuses on expanding its customer base in the energy storage battery business by winning large energy grid projects in North America and Europe. The company has a wide product portfolio that covers segments such as petrochemical, battery, and information & electric materials. The company holds a good position in the APAC region and is focusing on catering to other big potential markets such as Europe and North America.

  8. Get detail of this Report ? We at MarketsandMarkets, are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository. For More Information :-http://www.marketsandmarkets.com/Market-Reports/battery-energy-storage-system-market-112809494.html Contact:Mr. RohanMarkets and Markets UNIT no 802, Tower no. 7, SEZMagarpatta city, HadapsarPune, Maharashtra 411013, India1-888-600-6441Email: sales@marketsandmarkets.com

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