Off-grid power generation systems are generally used when there are capital limitations or the physical landscape makes it tough to have a grid connection. Off-grid energy storage systems are used in localities that are far away from populated areas or cities and not connected to any electricity grid. In these regions, despite the presence of independent power supply providers, electricity is not available 24/7 to consumers. This creates a demand for energy storage systems that aid in storing electricity for future use during power outages.
Global off-grid energy storage market to grow at a CAGR of +6.6% during the period 2018-2026.
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Top Key Players of Off-Grid Energy Storage Market:
- NEC Energy Solutions
- Sumitomo Electric Industries
- LG Chem
- Aquion Energy
- Samsung SDI
- Mitsubishi Heavy Industries
- ZEN Energy
- Tianneng Battery
Various factors affecting the forecasted trend in the Off-grid Energy Storage market are discussed in detail with analysis of the same. The global market report covers all the drivers, trends, and challenges in the market within the analysis and for the elucidation of the forecast statistics. Furthermore, the global market report is dissected and analyzed across its various segments such as by product type, by application, by end users, and by region.
Off-Grid Energy Storage Market Segment by Product Type
- Lithium-ion Battery
- Lead-acid Battery
Off-Grid Energy Storage Market Segment by Application
- Family Backup Power
- Industrial UPS
- Unattended Equipment
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Opportunities for growth in the off-grid energy storage market are found in both developing and developed regions of the world. Let’s take the oil and gas industry which has seen the pairing of two unlikely industries — solar and big oil. In recent years, oil companies have relied on solar power with battery storage to operate remote well pumps in some of the harshest environments throughout the world to avoid costly downtime. Solar power is displacing previous power methods such as diesel generators and pneumatic pumps, which have both economic and environmental repercussions.
Reasons for Buying this Off-Grid Energy Storage Market Research Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
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