The global off-grid energy storage system market to grow at a CAGR of 6.65% during the period 2016-2020.
Emergence of new energy technologies will be a key trend for market growth. Companies are focused on the advances of battery storage technology. They are investing heavily in R&D departments so that with new technologies they can reduce the battery costs, which is a major issue for the battery energy storage system market. Battery energy storage systems have encountered many breakthroughs and technological advances that result in reduction of cost and increase the efficiency of batteries.
Off-grid power generation systems are generally used when there are capital limitations or the physical landscape makes it tough to have a grid connection. Off-grid energy storage systems are used in localities that are far away from populated areas or cities and not connected to any electricity grid. In these regions, despite the presence of independent power supply providers, electricity is not available 24/7 to consumers. This creates a demand for energy storage systems that aid in storing electricity for future use during power outages.
The report covers the present scenario and the growth prospects of the global off-grid energy storage system market for 2016-2020. To calculate the market size, the report considers the revenue generated by the demand for energy storage for off-grid systems for application by end-users in each region and their corresponding key countries. The report also includes a discussion of the key vendors operating in this market.
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
- Aquion Energy
- Green Charge
- LG Chem
- NEC Energy Solutions
- NRG Energy
Other prominent vendors
- Amperex Technology
- Boston Power
- China Aviation Lithium Battery
- GE Energy Storage
- Mitsubishi Heavy Industries
- Primus Power
- Sumitomo Electric Industries
- Xtreme Power
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by battery technology
Part 07: Market segmentation by geography
Part 08: Market drivers
Part 09: Impact of drivers
Part 10: Market challenges
Part 11: Impact of drivers and challenges
Part 12: Market trends
Part 13: Vendor landscape
Part 14: Key vendor analysis
Part 15: Appendix
Part 16: About the Author
For more information about this report visit http://www.researchandmarkets.com/research/cmkrjn/global_offgrid
Research and Markets
Laura Wood, Senior Manager
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/global-off-grid-energy-storage-system-market-report-2016---research-and-markets-300348345.html
SOURCE Research and Markets