Energy Storage Systems Market Demand, Trends and Driver Forecast to 2026

Felton, California , USA, Jan 11 2022 — /EPR Network/ —  The “Energy Storage Systems Market” report gives a massive source to analyze the industry and other fundamental technicalities identifying with it. The examination discloses the total assessment and veritable parts of the energy storage systems market. This study exhibits a straightforward outline of the industry, that integrates applications, blueprints, industry chain structure, and definitions. This report prepares a case for investments in different regions based on a practical view of their regulatory outline, manufacturing dynamics, and availability of skills and resources in that region.

 

The global demand for energy storage systems market is anticipated to reach 210,803 MW, by the end of 2026. It is expected to grow at a CAGR of 2.3% over the forecast period, 2018 and 2026, according to the new report by Million Insights. The increasing demand for energy efficient resources is a key factor propelling the market growth.

 

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Growing demand for connected or smart homes, along with increasing awareness about energy-efficient solutions is projected to surge the need for energy storage solutions. Moreover, distributed energy solution is propelling the demand for electric utilities. All these effective energy measures are expected to positively impact the market growth over the next few years.

 

Hybrid technology is allowing manufacturers to develop e-bikes and hybrid vehicles. This trend is projected to create huge opportunities for battery manufacturers. Major companies including Altairnano, GE Renewable, and AES invest in R&D activities for developing battery storage solutions with higher energy efficiency.

 

Pumped hydro storage type system is anticipated to lead the market by the end of the forecasting period. This growth is estimated owing to high investment in the enhancement of energy infrastructure especially in the Asia Pacific and North America. In 2017, this segment constituted more than 90.0% in the global market.

 

Major players in the energy storage system market include, Active Power, EnSync, Maxwell Technologies, Electrovaya, Fluence, AltairNano, and Saft.

 

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