The battery energy storage system market was valued at USD 747.61 Million in 2015 and is expected to grow at a CAGR of 37.0% between 2016 and 2022. The base year used for the study is 2015 and the forecast period is between 2016 and 2022.

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This report provides a detailed analysis of the battery energy storage system market segmented on the basis of battery type, connection type, revenue source, ownership, application, and geography. The increasing demand for grid-connected solutions and growing electric vehicle market is expected to impact the market in the future.

There is a growing market for battery energy storage system in residential, non-residential, and transportation application. The residential battery energy storage systems are gaining popularity owing to interest in the use of natural energy and as a power source at the time of emergency.

Browse 75 market data tables and 77 figures spread through 165 pages and in-depth TOC on “Battery Energy Storage System Market - Global Forecast to 2022"
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Companies involved in the development of battery energy storage system include ABB Ltd. (Switzerland), AEG Power Solutions (The Netherland), General Electric Co. (U.S.), Hitachi ltd (Japan), LG Chem. (South Korea), NEC Corporation (Japan), Panasonic Corporation (Japan), Samsung SDI Co., ltd. (South Korea), Siemens AG (Germany), and Tesla Motors ltd. (U.S.).

This research report categorizes the global battery energy storage system market on the basis of battery type, connection type, ownership, revenue source, application, and geography. This report describes the drivers, restraints, opportunities, and challenges with respect to the battery energy storage system market.

The Porter’s five forces analysis has been included in the report with a description of each of its forces and their respective impact on the battery energy storage system market. Brief information on the research methodology implemented for the report can be found in the report description provided on the website.

Moreover, lithium-ion batteries are expected to become mainstream technology for residential battery energy storage systems as it supports cutting down the amount of power lost from AC-DC conversion.

The battery energy storage system in non-residential application supports electricity bills savings, thereby reducing the peak hour demand. This factor is expected to drive the growth of non-residential sector of this market. Additionally, the increasing market of electric vehicles is supporting the growth of the battery energy storage system market for the transportation sector.

There is a growing market for battery energy storage system in residential, non-residential, and transportation application. The residential battery energy storage systems are gaining popularity owing to interest in the use of natural energy and as a power source at the time of emergency.

Moreover, lithium-ion batteries are expected to become mainstream technology for residential battery energy storage systems as it supports cutting down the amount of power lost from AC-DC conversion. The battery energy storage system in non-residential application supports electricity bills savings, thereby reducing the peak hour demand.

This factor is expected to drive the growth of non-residential sector of this market. Additionally, the increasing market of electric vehicles is supporting the growth of the battery energy storage system market for the transportation sector.

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