Battery Energy Storage System (BESS) Market Is Expected To Grow Tremendously By 2030 - Tesla, Siemens, Hitachi

Battery Energy Storage System (BESS) market has witnessed exponential growth in the recent past. Several factors that attributed to the growth of this market, such as growing focus on renewable sources of energy, advancements in technology and rising demand for grid-connected solutions among others. Moreover, favorable government regulations to support the utilization of clean energy is another factor which has been pivotal in contributing to the growth of the market. However, high costs associated with project financing, and requirement of high capital for deployment of such services may restrict the growth of the global Battery Energy Storage System (BESS) market to a certain extent.

Market Industry Reports (MIR) has published a new report titled "Battery Energy Storage System (BESS) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019-2030." According to the report, the global Battery Energy Storage System (BESS) market was valued to be over US$ 2.5 billion in 2019. It is anticipated to grow at a CAGR of ~33.0% from 2019 to 2030.

Major Key Players of the Battery Energy Storage System (BESS) Market are:Tesla, Siemens, Hitachi Chemical Co, GENERAL ELECTRIC, AEG, SAMSUNG SDI CO, NEC Energy Solutions, Panasonic Corporatio

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