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The “Global Off-Grid Energy Storage Systems Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as Amperex Technology, Aquion Energy, Boston-Power, CEA (Commissariatal energie atomique), China Aviation Lithium Battery, EnerSys, GE Renewable Energy, Green, LG Chem, Mitsubishi Heavy Industries, NEC Energy Solutions, NRG Energy.
According to Verified Market Intelligence, the Global Off-Grid Energy Storage Systems Market was valued at USD 28.97 billion in 2017 and is projected to reach USD 51.81 billion by 2025, growing at a CAGR of 7.5% from 2018 to 2025.
The volatile environment conditions require a need for off-grid energy storage systems such as batteries, inverters, generators, etc., as large electricity fluctuations can lead to blackouts. Off-grid Energy storage can be best described as the battery storage grids which can be utilized when electricity shuts down or there is high voltage power supply fluctuations. Off-grid energy storage services are back up electricity generating units which can be installed to meet the increasing energy demands.
As a part of market estimation, the study also comprises a list of tables and figures for the “Global Off-Grid Energy Storage Systems Market” which focuses on a constructive knowledge essential for the companies or individuals interested in the market study report. As a part of market segmentation, our study exhibits a market analysis on the basis of type, industry application and geography.
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On the basis of type, the Global Off-Grid Energy Storage Systems Market can be categorized into two sections, by product and application. This market study analyses the industry for Off-Grid energy storage systems based on these divisions.
The Off- Grid energy storage system’s products are divided into lithium-ion batteries, lead-acid batteries, sodium-based batteries and others. The industry is then sectioned by an application which includes residential backup power, industrial UPS, unattended Equipment and more.
In terms of geography, Asia Pacific accounts for the fastest growing market due to the presence of numerous developing countries in this region along with their emerging markets. The Chinese market has a major share in this region.
Growing digitization and automation and growing needs for energy supply are the potential drivers for the global Off-Grid Energy Storage Systems market while expensive installation charges might hinder the market to grow at a global level and acts a prospective restraint for the market.
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