Worldwide Battery Energy Storage Market Expected To Grow At A CAGR Of 37.0% Between 2016-2022

Date: 2016-09-18

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 increasing demand for grid-connected solutions and growing electric vehicle market is expected to impact the market in the future.

The research methodology used to estimate and forecast the battery energy storage system market begins with capturing data on key vendor revenues through secondary research. The vendor offerings are also taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall market size of the global battery energy storage system market from the revenue of the key players in the market. 

The market revenue and emerging trends, categorizing battery storage by three types: Li-ion batteries, lead-acid batteries and sodium sulfur batteries. The Li-ion battery segment led the three in projected growth at a CAGR of close to 72 percent, projected to reach 3,130 MW by 2020.

The lead-acid battery market will reach 990 MW by 2020, growing at a CAGR of more than 67 percent. 

The sodium-sulfur battery segment is projected to reach 1,450 MW by 2020, growing at a high CAGR of more than 84 percent.

According to survey, the region of Battery Energy Storage market share as following:
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Joanna | Executive – International Business and partner Relations
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