Battery Energy Storage System Market
Battery Energy Storage Systems Market- Analysis, Outlook, Growth Trends, and Forecast
NEWARK, DELAWARE, UNITED STATES OF AMERICA, July 1, 2022 /EINPresswire.com/ — According to an analysis by Future Market Insights (FMI), the battery energy storage systems market is expected to be valued at US$ 44.86 Bn in 2032, with 26% CAGR during the forecast period.The market’s expansion can be attributed to rising demand for grid energy storage systems due to ongoing grid modernization, increasing penetration of lithium-ion batteries in the renewable energy sector, and the rising trend of adopting a low-carbon fossil-fuel-free economy, as well as the ongoing renewable energy revolution.The most common renewable energy kinds stored in grids are solar and wind energy. However, the energy generation process…
Battery Energy Storage Systems Market to Gain a Traction of 26% Owing to the Ongoing Grid Modernisation
