The major contributing factor for the growth of the market for Energy Storage Battery For Microgrids can be increasing need for sustainable resources of energy.

NEW YORK, NEW YORK, UNITED STATES, May 19, 2022 /EINPresswire.com/ -- The Energy Storage Battery for Microgrids market is expected to grow from USD 238.5 Million in 2020 to USD 498.7 Million by 2028, at a CAGR of 9.72% during the forecast period. Introduction of sustainable energy fuels, thus, replacing natural gas or diesel fuels with renewable fuels, such as solar PV and wind, into microgrids, reducing the fuel consumption, rising demand of energy storage products for residential use, increasing need for convergence of the energy storage and microgrid technology markets, since they constitute an advanced battery for grid-tied and remote microgrid applications and rising prices of electricity, giving a path to the growth of battery-based energy storage systems for microgrids are some of the driving factors of the market.

Lack of universal acceptance and high deployment costs may restrain the growth of the Energy Storage Battery for Microgrids market.

Get a sample of the report @ https://www.reportsanddata.com/download-summary-form/1164

Competitive Landscape:

The report offers a comprehensive overview of the competitive landscape of the market to provide an advantage to the reader. This segment focuses on the initiatives and innovations adopted by the key players to gain a strong foothold in the market. The report also sheds light on mergers and acquisitions, joint ventures, collaborations, partnerships, and agreements, among others, to offer a better understanding of the market. The report also offers insights into revenue, gross profit margin, financial standing, market position, product portfolio, and other vital aspects of each player. The report also includes a thorough SWOT analysis and Porter’s Five Forces analysis.

Key Players Profiled in the Report are:

NGK Group
Samsung SDI
NEC
Panasonic
MHI
Toshiba
S&C Electric
Beacon Power
CALMAC
Saft
Sumitomo Electric
EnSync
Eos Energy Storage
OutBack Power
Younicos
BYD
CALB
ATL
Rongke Power
Shen-li High Tech
Meineng
Chilwee
Narada

Download Summary @ https://www.reportsanddata.com/download-summary-form/1164

Further key findings from the report suggest

The Energy Storage Battery for Microgrids market is segmented by type into sodium-sulfur battery, VRLA lead acid, lithium-ion and others. The Lithium-ion batteries are expected to witness highest growth of approx. CAGR of 10.92% during the forecast period, since they are reliable, durable, light weight, highly efficient in terms of charge/discharge, as well as provides high energy and power density in terms of volume, and requires low maintenance needs.

The Energy Storage Battery for Microgrids market is segmented by application into household or residential, enterprise and utility. Utilities segment is expected to witness highest growth of CAGR 10.07% during the forecast period, since the segments suffers a lot of voltage and frequency deviations, which causes power fluctuations, damaging the equipment. To recover this issue, the utilities accommodate battery energy storage systems with the microgrids, which is also a cost-effective alternative to the conventional infrastructure.

The Energy Storage Battery for Microgrids Market is segmented by Geography into North, America, Europe, Asia Pacific, Middle East & Africa and Latin America. APAC is expected to have the highest growth in the market, with a CAGR of 15.65% during the forecast period, due to the growth of Japan.
Japanese government is heavily investing on battery storage industry, some of the leading players being Hitachi, GS Yuasa, NEC, Panasonic and Mitsubishi.
The region alone is expected to hold >50% of the global battery storage market by 2020.

Request a customization on the report @ https://www.reportsanddata.com/request-customization-form/1164

Segments covered in the report:

Energy Storage Battery for Microgrids Market by type (Revenue, USD Million; 2018-2028)

Sodium-sulfur battery
VRLA Lead Acid
Lithium-ion
Others

Energy Storage Battery for Microgrids Market by applications (Revenue, USD Million; 2018-2028)

Household or residential
Enterprise
Utility

Energy Storage Battery for Microgrids Market Regional Outlook (Revenue, USD Million; 2018-2028)

North America
Europe
Asia Pacific
Middle East & Africa
Latin America

Get TOC of this Report @ https://www.reportsanddata.com/report-detail/energy-storage-battery-for-microgrids-market/toc

Read Our More Reports

Residential Energy Management (REM) Market https://www.reportsanddata.com/report-detail/residential-energy-management-rem-market

Pipeline Transportation Market https://www.reportsanddata.com/report-detail/pipeline-transportation-market

About Us:

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Power and Energy, and Chemicals. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

Contact Us:

John W.

Head of Business Development

Direct Line: +1-212-710-1370

E-mail: sales@reportsanddata.com

Reports and Data | Web: www.reportsanddata.com

Connect with us: Facebook| LinkedIn | Twitter

Tushar Rajput
Reports and Data
+ 12127101370
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn