Battery Energy Storage Market to Reach USD 26.81 Billion by 2028; Partnership Agreement of Britishvolt and Siemens for Lithium-ion Battery Gigafactory to Reinforce Market: Fortune Business Insights™

Pune, India, Sept. 16, 2021 (GLOBE NEWSWIRE) — The global battery energy storage market size is expected to reach USD 26.81 billion in 2028, exhibiting a CAGR of 16.5% during the forecast period. The introduction of innovative technologies due to the rapidly growing energy demand can have a tremendous impact on the market growth in the foreseeable future, states Fortune Business Insights in a report titled, “Battery Energy Storage Market, 2021-2028.” The market size stood at USD 7.81 billion in 2020.

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The Report Lists the Key Companies in the Battery Energy Storage Market:

ABB (Switzerland)
Kokam (South Korea)
Samsung SDI (South Korea)
Total (France)
Hitachi ABB Power Grids (Switzerland)
Siemens Energy (Germany)
Black & Veatch (U.S.)
EVE Energy Co., Ltd. (China)
VRB Energy (Canada)
Narada (China)
Fluence (U.S.)
LG Chem (South Korea)
Hitachi Chemical Co., Ltd. (Japan)
GE (U.S.)

Report Scope & Segmentation

Report Coverage

Forecast Period
2021 to 2028

Forecast Period 2021 to 2028 CAGR
16.5 %

2028 Value Projection
USD 26.81 Billion

Base Year

Market Size in 2021
USD 9.21 Billion

Historical Data for
2017 to 2019

No. of Pages

Segments covered
Size, Share, Battery Type, Connectivity, Geography

Growth Drivers
Growing Integration of Renewable Energy Technologies to Boost BESS Demand

Stringent Carbon Reduction Norms and Rising Peak Energy Demand to Propel Market Size

Continuously Expanding Grid Infrastructure to Unveil New Opportunities for Industry Growth

Pitfalls & Challenges

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