LONDON--(BUSINESS WIRE)--Technavio has published a new report on the global Li-ion battery market for energy storage systems (ESS), which is expected to grow at a CAGR of about 26% from 2015-2019.
Li-ion battery market segmentation including ownership model and geography
Technavio’s report analyses the solutions and products offered by market vendors and presents a comprehensive breakdown in terms of market segmentation for different ownership models, including utility-owned, custom-owned, and third-party-owned.
Additionally, analysts have segmented market projections by key geography, focusing on the Americas, the APAC region, and the EMEA.
The report also underlines the deployment of smart grids to support renewable energy reliability by various governments worldwide. The Chinese government is investing in EV infrastructure as a part of smart grid development, which will increase the adoption of ESS in the country.
“These type of developments in the EV industry increases the scope of installation of ESS, thus propelling the growth of Li-ion-based ESS market,” says Faisal Ghaus, Vice President of Technavio.
Li-ion Battery: Market scope and calculation of market size
This report covers the present scenario and growth prospects for the global Li-ion battery market for energy storage systems (ESS), from 2015-2019. To calculate the market size, we consider the overall Li-ion battery-based ESS installations globally.
Industry analysis includes:
- A123 Systems
- LG Chem
- Samsung SDI
Market Growth Drivers:
- Increased demand for Li-Ion batteries in grid energy storage
- California’s increased drive for energy storage
- High initial investment
- Safety concerns
- Integration of ESS with micro-grids
- Growing demand for decentralized power generation
View the global Li-ion battery market for energy storage systems (ESS) report.
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