The Global Utility Battery Market is expected to grow by 784.47 MW during 2020-2024 progressing at a CAGR of 5% during the forecast period
NEW YORK, Aug. 26, 2020 /PRNewswire/ --
Global Utility Battery Market 2020-2024
The analyst has been monitoring the utility battery market and it is poised to grow by 784.47 MW during 2020-2024 progressing at a CAGR of 5% during the forecast period. Our reports on utility battery market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
Read the full report: https://www.reportlinker.com/p05764059/?utm_source=PRN
The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the growing ESS demand from utilities, increasing focus on renewable energy generation, and growing urbanization and electricity demand.
The utility battery market analysis includes technology segment and geographic landscape.
The utility battery market is segmented as below:
By Technology
• Lithium-based batteries
• Sodium-based batteries
• Others
By Geographic Landscapes
• APAC
• North America
• Europe
• MEA
• South America
This study identifies the increased adoption of microgrids as one of the prime reasons driving the utility battery market growth during the next few years. Also, technological advances in battery ESS technologies and decreasing cost of battery storage systems will lead to sizable demand in the market.
The analyst presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our utility battery market covers the following areas:
• Utility battery market sizing
• Utility battery market forecast
• Utility battery market industry analysis
Read the full report: https://www.reportlinker.com/p05764059/?utm_source=PRN
About Reportlinker
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