Energy Storage Market Growth to Hit 9.12% CAGR, Globally, by 2030 – Exclusive Report by MarkNtel Advisors Market Research
MarkNtel Advisors who is leading market research company, has recently published a research report, titled Global “Energy Storage Market”. The report is estimated historical data, base year and forecast period and the projections are made for the next five years, i.e., 2024-30. The data, facts, and figures are sourced from reliable platforms, including government portals, white papers, and others.
For a better understanding to download a free sample PDF of this study – https://www.marknteladvisors.com/query/request-sample/global-energy-storage-market.html
Market Study Period
Historical Data: 2019-22
Base Year: 2023
Forecast Period: 2024-30
CAGR (2024-2030): 9.12%
Global Energy Storage Market Insights:
The Global Energy Storage Market size is valued at nearly USD 221.5 billion in 2023 & is predicted to reach about USD 435.4 billion by 2030. Along with this, the market is also estimated to grow at a CAGR of around 9.12% during the forecast period, i.e., 2024-30. The report covers each and every aspect of the market in detail, offering actionable insights to the stakeholders. We extensively cover key trends, opportunities, possible challenges, and major growth drivers for the industry. The report also highlights the role and involvement of governments and other relevant factors that promote market growth.
Global Energy Storage Market Drivers:
Growing Adoption of Renewable Energy Storage – The Energy Storage Market has been significantly propelled by the expanding adoption of renewable energy sources, notably solar & wind, in recent years. The intermittent nature of these renewable sources necessitates the usage of energy storage systems to capture surplus energy during periods of high generation & release it when demand peaks, ensuring a more dependable & consistent supply of renewable energy. The growing prevalence of renewable energy sources, marked by their intermittency & variability, has resulted in a supplemented need for energy storage solutions.
Moreover, the integration of large-scale renewable energy into power grids has introduced challenges related to grid stability, voltage control, and frequency regulation. Energy storage systems offer a viable solution by allowing grid operators to mitigate fluctuations in power generation and consumption, thereby enhancing grid stability and facilitating the seamless integration of renewables. As Europe, the Middle East, and the Asia-Pacific region embark on ambitious renewable energy projects to meet their clean energy targets, the demand for energy storage systems is expected to witness a notable upswing in the forecast period.
Explore the Complete Energy Storage Market Analysis Report – https://www.marknteladvisors.com/research-library/global-energy-storage-market.html
Which segments are covered in the Energy Storage Market Research Report?
- By Type
- Battery
- Lithium-ion Batteries
- Lead-acid Batteries
- Redox Flow Batteries
- Pumped Storage Hydropower
- Compressed Air Energy Storage
- Gravity-based Energy Storage
- Liquid Air Energy Storage (LAES)
- Flywheel Energy Storage (FES)
- Battery
- By End User
- Residential
- Commercial
- Utilities
- By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Top 10 Key Brands/Players in the Energy Storage Market
Our analysts have closely analyzed leading players within the industry, providing stakeholders with valuable insights into the competitive landscape. This enables them to formulate strategic tactics based on the comprehensive data compiled in the report. The information encompasses recent developments, mergers and acquisitions, product/service launches, expansion plans, and revenue-generating opportunities. Notable entities featured in the report include:
- Contemporary Amperex Technology Ltd
- NextEra Energy
- Toshiba Corporation
- GS Yuasa Corporation
- Siemens
- ABB
- LG Chem.
- Voith GmbH & Co. KGaA
- Hitachi Energy
- Mitsubishi Electric Corporation
- Tesla
- Samsung SDI
- UniEnergy Technologies, LLC
- General Electric
- ANDRITZ HYDRO GmbH
- Others
For a Customized Analysis Report, Just Drop Your Inquiry Here – https://www.marknteladvisors.com/query/request-customization/global-energy-storage-market.html
Frequently Asked Questions
- Which companies dominate the Energy Storage Market in terms of market share?
- What is the projected market size of Energy Storage Market in 2030?
- What key factor is anticipated to propel the Energy Storage Market by 2030?
- How big is the Energy Storage Market?
Other Reports –
- https://plaza.rakuten.co.jp/marketpulse/diary/202401240000/
- https://plaza.rakuten.co.jp/marketpulse/diary/202401240001/
- https://plaza.rakuten.co.jp/marketpulse/diary/202401230001/
- https://plaza.rakuten.co.jp/marketpulse/diary/202401230000/
- https://plaza.rakuten.co.jp/marketpulse/diary/202401230000/
- https://plaza.rakuten.co.jp/marketpulse/diary/202401220001/
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