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Qyresearchreports, an international market research institution, recently released a microgrid battery energy storage market research report that by 2025, the global demand for microgrid battery energy storage will reach $340 million
.
The global microgrid market has a demand for energy storage batteries of $190 million in 2017 and will reach $340 million by the end of 2025, growing at a CAGR of 7.
5%
from 2018 to 2025.
Energy storage batteries for microgrids are energy reservoirs that store and supply energy when needed
.
This battery system has the added advantage of matching generation to usage time and enables peak shaving applications
.
Battery-based energy storage is more environmentally friendly than traditional diesel generators and significantly reduces the fuel and size requirements
of ordinary backup generators.
Even small amounts of energy storage can have a significant impact
on reducing fuel costs, maintenance and omissions for diesel or biodiesel generators.
Currently, the major challenge affecting the growth of the market is the restraint of the
downstream market.
Due to the large demand for energy storage products at home and abroad, many companies have begun to enter the field
.
For example, China's energy storage batteries for microgrids have not only begun to shift to renewable energy installations, but also extended to the downstream industrial chain
.
Global energy storage battery companies used in the microgrid industry are mainly concentrated in the European Union, the United States and Japan
.
The global leaders in this market are NGK Group, Samsung SDI, NEC, Panasonic, MHI and Toshiba, among others, which accounted for 49.
38%
of the total global market revenue in 2015.
In China, the market leaders are BYD, CATL and others
.
From the perspective of market consumption, the United States and China are the main consumption areas
of global energy storage batteries in the microgrid market.
Energy storage batteries for microgrids are mainly used in households, businesses, utilities
.
In 2017, the application market share of public utilities reached 87.
68%.
Qyresearchreports, an international market research institution, recently released a microgrid battery energy storage market research report that by 2025, the global demand for microgrid battery energy storage will reach $340 million
.
The global microgrid market has a demand for energy storage batteries of $190 million in 2017 and will reach $340 million by the end of 2025, growing at a CAGR of 7.
5%
from 2018 to 2025.
Energy storage batteries for microgrids are energy reservoirs that store and supply energy when needed
.
This battery system has the added advantage of matching generation to usage time and enables peak shaving applications
.
Battery-based energy storage is more environmentally friendly than traditional diesel generators and significantly reduces the fuel and size requirements
of ordinary backup generators.
Even small amounts of energy storage can have a significant impact
on reducing fuel costs, maintenance and omissions for diesel or biodiesel generators.
Currently, the major challenge affecting the growth of the market is the restraint of the
downstream market.
Due to the large demand for energy storage products at home and abroad, many companies have begun to enter the field
.
For example, China's energy storage batteries for microgrids have not only begun to shift to renewable energy installations, but also extended to the downstream industrial chain
.
Global energy storage battery companies used in the microgrid industry are mainly concentrated in the European Union, the United States and Japan
.
The global leaders in this market are NGK Group, Samsung SDI, NEC, Panasonic, MHI and Toshiba, among others, which accounted for 49.
38%
of the total global market revenue in 2015.
In China, the market leaders are BYD, CATL and others
.
From the perspective of market consumption, the United States and China are the main consumption areas
of global energy storage batteries in the microgrid market.
Energy storage batteries for microgrids are mainly used in households, businesses, utilities
.
In 2017, the application market share of public utilities reached 87.
68%.
