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Energy Storage & Battery

In the recent years, the industry has witnessed a paradigm shift towards the adoption of decarbonized energy systems. Countries worldwide are substantially inclining toward renewable energy sources from fossil fuel dependency. Energy storage systems (ESS) have witnessed a significant upsurge on account of shifting trends toward the adoption of renewable energy technologies coupled with growing need for efficient and affordable storage systems. Various energy storage technologies including pumped hydro, electro-chemical, electromechanical, thermal, among others have emerged as prominent sources for storing electric energy. Currently, pumped hydro is the dominant solution across the globe for energy storage. However, electro-chemical storage has witnessed a significant growth owing to the rising investments toward clean energy sources along with government subsidies and incentives for the adoption of renewables. Furthermore, supportive government initiatives toward installation of sustainable technologies, which include lithium-ion batteries and concentrated solar power has resulted in robust business growth.

There are several chemistries including lead acid, lithium-ion, sodium sulfur, flow batteries, and solid-state batteries, that are used in battery energy storage systems. Lithium-ion is currently one of the most commonly used batteries worldwide. The dominance of these batteries can be attributed to its high-energy density, which means a lithium-ion cell of a specific weight and size provides significantly higher energy when compared to other batteries of the same size or weight. In addition, growing need for energy efficient storage systems and safety concerns toward battery life has further provided impetus to adoption of different lithium-ion chemistries.

Drivers:

  • Strict government regulations pertaining to decarbonization along with the adoption of energy-efficient sustainable technology.
  • Growing inclination of the emerging economies toward the development of off grid infrastructure to cater to the green energy requirements.
  • Declining costs of renewable sources including solar and wind energy are likely to ensure that the investments will continue to increase the share of renewables in the energy mix across the globe.
  • Technological advancements have led to a considerable drop in component costs along with improved efficiency standards.
  • Increasing concerns toward security of supply to cater to the increasing demand for electricity.

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Published: August 2024   

Indonesia & Malaysia Lead Acid Battery Market100 Pages

Indonesia & Malaysia Lead Acid Battery Market was valued at USD 3.6 billion in 2023 and is set to grow at a CAGR of 3.2% from 2024 to 2032....

Published: August 2024   

Thermal Energy Storage Market80 Pages

Thermal Energy Storage Market was valued at USD 47.5 billion in 2023 and is estimated to grow at a CAGR of 6.7% from 2024 to 2032....

Published: August 2024   

Solid State Battery Market80 Pages

Solid State Battery Market was valued at USD 826.8 million in 2023 and is anticipated to grow at a CAGR of 38.2% from 2024 to 2032....

Published: July 2024   

Grid Scale Stationary Battery Storage Market80 Pages

Grid Scale Stationary Battery Storage Market was valued at USD 62.6 billion in 2023 and is set to grow at a CAGR of 26.4% from 2024 to 2032. ...

Published: July 2024   

America SLI Battery Market80 Pages

Americas SLI Battery Market size was valued at USD 11.9 billion in 2023 and is projected to expand at a CAGR of 2% between 2024 and 2032. ...

Published: July 2024   

Energy Storage Systems Market80 Pages

Energy Storage Systems Market was valued at USD 486.2 billion in 2023 and is projected to grow at a CAGR of 15.2% between 2024 and 2032...

Published: June 2024   

Europe Automotive Start-Stop Battery Market60 Pages

Europe Automotive Start-Stop Battery Market was valued at USD 2.7 billion in 2023 and is anticipated to grow at a CAGR of 4.5% between 2024 and 2032. ...

Published: June 2024   

SLI Battery Market110 Pages

SLI Battery Market was valued at USD 37.8 billion in 2023 and is expected to grow at a CAGR of 2.3% from 2024 to 2032....

Published: June 2024   

Industrial Traction Battery Market80 Pages

Industrial Traction Battery Market was valued at USD 3.6 billion in 2023 and is anticipated to grow at a CAGR of 15.6% by 2032....

Published: June 2024   

EV Battery Reuse Market110 Pages

EV Battery Reuse Market was valued at USD 393.6 million in 2023 and is expected to grow at a CAGR of 46.6% between 2024 and 2032. ...

Published: January 2024   

Lead Acid Battery Market650 Pages

Lead Acid Battery Market size in 2023 was valued at USD 95.9 billion and is estimated to grow at 3.1% CAGR by 2034....

Published: January 2024   

Lithium-Ion Solar Energy Storage Market250 Pages

Lithium-ion Solar Energy Storage Market size in 2023 was valued at USD 52.9 billion and is estimated to grow at 15.2% CAGR by 2034. ...

Published: July 2023   

Solar Energy Storage Market350 Pages

Solar Energy Storage Market size was valued at USD 46.7 billion in 2022 and is forecasted to observe over 15.6% CAGR from 2023 to 2032. ...

Published: July 2023   

Solar Water Pumps Market400 Pages

Solar Water Pumps Market size was valued at USD 1.5 billion in 2023 and is estimated to grow at over 9% CAGR between 2024 and 2032....

Published: July 2023   

Europe Lithium-Ion Stationary Battery Storage Market220 Pages

Europe Lithium-Ion Stationary Battery Storage Market size was valued at USD 19.7 billion in 2022 and is projected to expand at over 16.9% CAGR between 2023 and 2032....

Published: July 2023   

Flywheel Energy Storage Market120 Pages

Flywheel Energy Storage Market size was valued at USD 1.3 billion in 2022 and is projected to grow at a CAGR of 2.4% between 2023 and 2032. ...

Published: July 2023   

AGM Battery Market470 Pages

The absorbent glass mat (AGM) battery market size crossed USD 15.6 billion in 2023 and is projected to witness 2.8% CAGR from 2024 to 2032, due to the rising demand for automotive start-stop systems across the globe....

Published: June 2023   

Forklift Battery Market300 Pages

Forklift Battery Market was valued at USD 5.1 Billion in 2022 and is anticipated to register a CAGR of over 6.5% from 2023 to 2032. ...

Published: June 2023   

Flexible Paper Battery (FPB) Market250 Pages

Flexible Paper Battery (FPB) Market size was valued at USD 496.9 million in 2022 and is anticipated to grow at over 20% CAGR from 2023 to 2032 ...

Published: June 2023   

Behind the Meter Stationary Battery Storage Market220 Pages

Behind the Meter Stationary Battery Storage Market size surpassed USD 19.1 billion in 2022 and is projected to showcase 23% CAGR from 2023 to 2032. ...

Published: June 2023   

Compressed Air Energy Storage (CAES) Market120 Pages

Compressed Air Energy Storage Market size surpassed USD 1.13 billion in 2023 and is anticipated to register 11.3% CAGR from 2024 to 2032....

Published: May 2023   

China Energy Storage Market150 Pages

China Energy Storage Market size surpassed USD 93.9 billion in 2022 and is anticipated to grow at CAGR of 18.9% from 2023 to 2032. ...

Published: May 2023   

U.S. Energy Storage Market150 Pages

U.S. Energy Storage Market size surpassed USD 68.6 billion in 2023 and is anticipated to grow at 15.5% CAGR from 2024 to 2032....

Published: May 2023   

Residential Electric Underfloor Heating Market240 Pages

Residential Electric Underfloor Heating Market size surpassed USD 1.6 billion in 2023 and is poised to grow at 4.6% CAGR from 2024 to 2032....

Published: May 2023   

Residential Solar Energy Storage Market220 Pages

Residential Solar Energy Storage Market size surpassed USD 38.9 billion in 2022 and is set to register 18.3% CAGR from 2023 to 2032. ...

Published: May 2023   

VRLA SLI Battery Market315 Pages

VRLA SLI Battery Market size surpassed USD 9.1 billion in 2023 and is anticipated to expand at 3.9% CAGR from 2024 to 2032....

Published: March 2023   

Thin Film Battery Market150 Pages

Thin Film Battery Market size exceeded USD 303.1 million in 2023 and is projected to expand at more than 41.3% CAGR from 2024 to 2032, driven by the surging spending on consumer electronics....

Published: March 2023   

Traction Battery Market400 Pages

Traction Battery Market size exceeded USD 56 billion in 2023 and is projected to expand at more than 21.3% CAGR from 2024 to 2032....

Published: September 2022   

Lithium-ion Stationary Battery Storage Market500 Pages

Lithium-ion Stationary Battery Storage Market was valued at USD 61.3 billion in 2023 and is projected to expand at over 18.8% CAGR from 2024 to 2032....

Published: January 2017   

Graphene Battery Market145 Pages

Graphene Battery Market size surpassed USD 15 million in 2015 and is poised to witness around 20% growth between 2016 and 2024....

Published: March 2016   

Advanced Energy Storage Systems Market118 Pages

Advanced Energy Storage Systems Market size in 2014 was valued over 3.5 GW with CAGR of over 15% up to 2022....

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