The market for battery energy storage is estimated to grow to $10.84bn in 2026.
The fall in battery technology prices and the increasing need for grid stability are just two reasons GlobalData have predicted for this growth, with the integration of renewable power holding significant sway over the power market.
Over the last decade, various new digital and smart technologies have been integrated, with countries aggressively promoting the modernization of grids, enhancing the grids’ capability to meet present and future requirements.
As part of the effort, batteries are being deployed for a wide range of uses. A few such uses include aiding smart grids, integrating renewables, and creating responsive electricity markets.
Read this report for expert insights into:
Market size and growth
Key drivers and restraints
The impact of the commodity price increase on the battery prices
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