Market Dynamics
The market is driven by the change in the energy mix. The global energy mix has significantly changed over the years. The increase in GHG emissions has forced governments across the world to start focusing on generating energy from sustainable and renewable sources such as solar, biomass, and wind. This is resulting in the diversification of energy resources, with renewables accounting for a significant share in the energy mix. In addition, the new mandates on the use of renewable energy have spurred the demand for energy storage systems to overcome the issues that arise due to the intermittent nature of renewable sources. Thus, the change in the global energy mix is expected to drive the growth of the market in focus.In addition, the increased adoption of microgrids is anticipated to boost the growth of the battery market for energy storage systems (ESS) market….
Battery Market for Energy Storage Systems (ESS) Market | APAC to have largest share
