The newly Energy Storage Battery for Microgrids market report provided a complete view of the present and future market. Deep analysis of enterprise competition pattern, enterprise product advantages and disadvantages, regional industrial layout characteristics. The base year considered for the study is 2018 and the market size is projected from 2019 to 2026.
Product Information
Energy Storage Battery for Microgrids is an energy reservoir that can store electrical energy and supply energy when required. Such a battery system has the added advantage of matching generation to the time of use and enables peak-shaving applications. Battery-based energy storage is more environmentally-friendly than traditional diesel generators and significantly reduces the fuel and sizing needs for common backup generators. Even small amounts of energy storage can have a major impact on reducing fuel costs, maintenance and omissions of diesel or bio-diesel generators.
On the basis of products, the various types include Li-ion battery and Lead acid battery. On the basis of application, the Energy Storage Battery for Microgrids market is segmented into Peak Hour Shaving, Volt-Ampere Reactive Services, and Black Start.
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Market Insights
According to a new research study, the Energy Storage Battery for Microgrids market size is expected to reach USD 366 million by 2026 from USD 201 million in 2019, with a compound annual growth rate of 8.9% during the forecast period. The growth can be mainly attributed to the rising demand for energy storage products for residential use and increasing need for convergence of the energy storage and microgrid technology markets. Lack of universal acceptance and high deployment costs can pose a challenge to market growth.
Regional Segment Analysis
In 2018, the Energy Storage Battery for Microgrids global market was mainly concentrated in the three regions of North America, Europe, Asia-Pacific. Europe is the largest market at a share of 30.11%, followed by North America and Asia-Pacific, accounting for 27.61% and 24.51%. The Asia-Pacific is anticipated to show massive growth in the coming years, owing to the government's strong investment in the battery storage industry.
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Competitive Players
The Energy Storage Battery for Microgrids market is full of competition due to the presence of many large and small companies and local manufacturers. The leading vendors in the market are ABB, EnStorage, General Electric Digital Energy, NEC, and S&C Electric. Other prominent vendors in the market are Toshiba, Ampard, Aquion Energy, Greensmith Energy, Green Energy, and others.
Target Audience for this Report
l Energy Storage Battery for Microgrids manufacturers
l Energy Storage Battery for Microgrids importers and exporters
l Energy Storage Battery for Microgrids traders, distributors, and suppliers
l Raw material suppliers of Energy Storage Battery for Microgrids
l Energy Storage Battery for Microgrids industry associations
l Product managers, Energy Storage Battery for Microgrids industry administrator, C-level executives of the industries
l Market Research and consulting firms
l Small and Medium-sized Enterprises (SMEs)
Table of Content
1 Report Overview
1.1 Product Definition and Scope
1.2 PEST (Political, Economic, Social and Technological) Analysis of Energy Storage Battery for Microgrids Market
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2 Market Trends and Competitive Landscape
3 Segmentation of Energy Storage Battery for Microgrids Market by Types
4 Segmentation of Energy Storage Battery for Microgrids Market by End-Users
5 Market Analysis by Major Regions
6 Product Commodity of Energy Storage Battery for Microgrids Market in Major Countries
7 North America Energy Storage Battery for Microgrids Landscape Analysis
8 Europe Energy Storage Battery for Microgrids Landscape Analysis
9 Asia Pacific Energy Storage Battery for Microgrids Landscape Analysis
10 Latin America, Middle East & Africa Energy Storage Battery for Microgrids Landscape Analysis
11 Major Players Profile
11.1 ABB
11.1.1 ABB Company Profile and Recent Development
11.1.2 Market Performance
11.1.3 Product and Service Introduction
11.2 EnStorage
11.3 General Electric Digital Energy
11.4 NEC
11.5 S&C Electric
11.6 Toshiba
11.7 Ampard
11.8 Aquion Energy
11.9 Greensmith Energy
11.10 Green Energy
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Key questions answered in the report
l What will the market size and growth rate be in 2026?
l What segment or region will drive or lead the market growth and what are the reasons?
l How will market drivers, constraints and future opportunities affect market dynamics and subsequent analysis of relevant trends?
l What key strategies are used by top vendors to increase revenue?
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