followers 5 popularity
3
following 1

followers  view all

following  view all

Groups
jayu123 is not in any groups
jayu123

Energy Storage Systems Market is projected to report a CAGR of 5.6% between 2017 and 2025

May 14th 2019 at 11:02 PM

The global energy storage systems market is fragmented in nature on account of the presence of a copious number of regional and international players. In order to tap into the market, which has ample room for growth, new players are rushing in. As a result, competition in the market is predicted to heat up in the near future.

In order to surge ahead in the global energy storage systems market savvy players are banking on product development and carefully-considered mergers and acquisitions. They are also focusing on improving their distribution network and managing working capital effectively in order to thrive in the market.

Some of prominent players operating in the global energy storage systems market are ABB Ltd., BYD Company Limited, EOS Energy Storage, Evapco, Inc., Maxwell Technologies, Inc., General Electric Company, Hitachi, Ltd., LG Chem, Ltd., NEC Corporation, Panasonic Corporation, Schneider Electric SE, Siemens AG, and Tesla.

Read report review@

https://www.transparencymarketresearch.com/energy-storage-systems-market.html

Need to Tackle Vehicular Pollution Proves Beneficial to Market

Majorly fuelling the global energy storage systems market worldwide is the pressing need to address vehicular pollution which is serving to rapidly deteriorate the air quality in cities particularly.

This has resulted in policy changes forcing commuters to opt for less polluting vehicles such as electric cars, two-wheelers, buses, and trucks. This in turn has provided a boost to the sales of energy storage systems. The growing railway network is also providing a fillip to the market.

Global Energy Storage Systems Market: Snapshot

A large number of local and global players are competing with one another in the global energy storage systems market. This makes the landscape fragmented in nature. The market is also witnessing the foray of new players wanting to cash in on the unmet demands of consumers.

To make headway in the market, players are focusing on product development and strategic mergers and acquisitions. They are also enhancing their distribution networks to steal a march over their competitors.

The global energy storage systems market is being primarily driven by the soaring uptake of electric vehicles which are much less polluting than fuel-powered ones. Apart from the automotive segment, the commercial and industrial establishments too are resulting in sales as their need to store energy is high. The residential sector is another crucial contributor to sales because of the uptake of solar panels to reduce dependency on grid electricity.

Request Sample @

https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=32474

A report by Transparency Market Research predicts the global energy storage systems market to become worth US$52.59 bn by 2025 from US$32.60 bn in 2016 by expanding at a steady CAGR of 5.6% from 2017 to 2025.

Popularity of Pumped Hydro Propels Market Share of Mechanical Storage Technologies

Depending upon the type of technology, the global energy storage systems market can be divided into electro chemical, thermal storage, mechanical energy storage, and others. Electrochemical storage can be again divided into lithium-ion battery, lead acid battery, sodium sulfur (NaS) battery, flow battery, and others such as nickel metal hydride (NIMH), nickel cadmium battery (NICD), and nickel iron battery. Currently, the electrochemical storage technologies are seeing maximum uptake and in the years ahead is predicted to expand at a healthy clip.

Request brouchure@

https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=32474

 

Some of the key companies in the global energy storage systems market are ABB Ltd., BYD Company Limited, EOS Energy Storage, Evapco, Inc., Maxwell Technologies, Inc., General Electric Company, Hitachi, Ltd., LG Chem, Ltd., NEC Corporation, Panasonic Corporation, Schneider Electric SE, Siemens AG, and Tesla.

0 comments
Please to comment

sign in

Username
Password
Remember Me


New to IM faceplate? join free!

Lost Password? click here