Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 189.1 Billion | USD 301.8 Billion | 8.10% | 2021 |
FrequentlyAsked Questions
The paradigm shifts toward renewable energy generation and advanced energy storage systems to minimize GHG emissions promotes the use of various storage technologies, which will positively affect industry outlook and benefit the global market.
According to the Market Research report, the global market was worth around USD 1,89.1 billion in 2021 and is estimated to grow to about USD 301.8 billion by 2028, with a compound annual growth rate (CAGR) of approximately 8.10 percent over the forecast period.
North America and Europe, for instance, have already commissioned measures to improve the adaptability of various EVs for personal and commercial use, assisting the global market.
Some of the main competitors dominating the global Energy Storage Systems market include- Scheider Electric, SMA Solar Technology AG, Exide Industries Ltd., SK Holdings, Autobat SACI, Enerbrax Acumuladores Ltda, Eguana Technologies, Imergy Power Systems, Ionotec Ltd and Tata Power.
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