Value of Energy Storage Batteries Market to Reach USD 6 Bn in the Next 10 Years, Says IDTechEx in Report Available at MarketPublishers.com11 Aug 2016 • by Natalie Aster
LONDON – Presently, the world market for battery storage systems is witnessing rapid development driven by various factors. Firstly, numerous battery-related enterprises like material providers, electric vehicle producers, battery makers, heavy industry players and PV system integrators are expanding their businesses to new areas and creating cross-industry opportunities to de-risk their primary businesses and also generate secondary value streams. The escalating demand spurs growth in battery manufacturing and, further, results in remarkable price reduction. Secondly, the big deployment of distributed generation in BTM sector along with rising renewable generations like solar and wind in the grid-connected sector requires energy storage solutions in order to be fit as a part of whole system. At the same time, favourable regulative policies are addressing the importance of energy storage, including subsidies, financial loans, incentive programs, etc. The increasing interest towards energy storage will likely propel further deployment of renewable energy.
In the years to come, the development of the batteries for residential, commercial, industrial and utility application is predicted to vary from region to region given the different regulatory landscape, electricity retail rates, supporting policies, customers’ ability to pay and penetration of renewable, among others. This emerging market, which is based on mature technologies, is anticipated to demonstrate enormous potential and reach the vaue of around USD 6 billion in the next 10 years.
This topical report “Batteries for Residential, Commercial, Industrial and Utility Applications 2016-2026” prepared by IDTechEx Ltd examines electrochemical energy storage with a focus on batteries used in residential, industrial, commercial and grid storage sectors. It reviews the current market scenario across the key geographies, analyses the present situation in various end-use sectors, uncovers important figures and statistics and also gives future forecasts for the next 10 ten years. The research publication contains info on regulatory landscape, economic environment, competitive pressures, the recent innovations and existing and emerging technologies.
Other reports by this publisher are provided at the IDTechEx page.