ROHSTOFF INTERNATIONAL

10:34 | 17.04.2018
$8.5 Bn Battery Energy Storage System Market by Element, Battery Type, Connection Type, Ownership, Application, and Geography – Global Forecast to 2023 – ResearchAndMarkets.com

The “Battery
Energy Storage System Market by Element, Battery Type, Connection Type,
Ownership, Application, and Geography – Global Forecast to 2023”
report has been added to ResearchAndMarkets.com’s
offering.

The battery energy storage system market is expected to grow from USD
1.98 billion in 2018 to reach USD 8.54 billion by 2023, at a CAGR of
33.9% between 2018 and 2023.

The major drivers for the growth of the market include the 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. However, the factors such as the installation of
battery energy storage systems in remote locations pose a challenge for
the players in the market.

The battery energy storage system market for flow batteries is expected
to grow at the highest CAGR between 2018 and 2023. The redox, hybrid,
and membrane-less batteries are the different classes of flow batteries.
A new generation of redox (i.e., reduction-oxidation) flow batteries in
battery energy storage system are much better suited for medium- and
large-scale applications where heavy use, long-term cycling, durability,
and safety are paramount. These factors contribute to the growth of the
battery energy storage system market for flow batteries.

The customer-owned battery energy storage system help reduce the
electricity cost, as used electricity is charged under the time-of-use
(TOU) tariff. There are 3 periods for TOU pricing: peak, shoulder, and
off-peak. Commonly, prices are highest in peak times and lowest in
off-peak times. Through the adoption of battery energy storage systems,
the customers can easily reduce their energy spendings (electricity cost
and annual investment cost) under the TOU tariff. Battery energy storage
systems also help solve the over-voltage issues by controlling the
fluctuation of voltage and frequency.
Key Topics Covered:
1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Battery Energy Storage System Market, By Element

8 Battery Energy Storage System Market, By Battery Type

9 Battery Energy Storage System Market, By Connection Type

10 Battery Energy Storage System Market, By Ownership

11 Battery Energy Storage System Market, By Application

12 Geographic Analysis

13 Competitive Landscape

14 Company Profiles

ABB

LG Chem

NEC

Panasonic

Samsung SDI

AEG Power Solutions

General Electric

Hitachi

Siemens AG

Tesla

The AES Corporation

Alevo Group

Exergonix

Corvus Energy

East Penn Manufacturing

Enerdel

Mitsubishi Heavy Industries (MHI) Group

NGK Insulators

Toshiba Infrastructure Systems & Solutions

Trinabess

For more information about this report visit https://www.researchandmarkets.com/research/r9395t/8_5_bn_battery?w=4
View source version on businesswire.com: https://www.businesswire.com/news/home/20180417005754/en/


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