rising government initiative for increasing production of renewable energy have also
accelerated growth of the market in this region. For instance, according to Indian Brand Equity
Foundation, the Indian government released its road map to achieve 175 GW capacity in
renewable energy by 2022, in which 100 GW is for solar power and 60 GW is of wind power.
Similarly, in 2017, the China government announced plans to invest US$ 360 billion in renewable
energy by 2020. Moreover, North America grid connected battery market held the second
position in the market. The U.S. and Canada are some of the major countries in this region. The
high production of renewable energy in the region is a major driving factor for growth of the
market. For instance, according to Coherent Market Insights, in 2017, Canada produced 712
terawatt hours electricity, of which 65% energy was produced by renewable resources.
Key Players- Global Grid Connected Battery Storage Market.
The major players operating in the global grid connected battery storage market include NGK
Insulators Ltd, BYD Company, NEC Corporation, Samsung SDI Co., LG Electronics Inc., Xtreme
Power, Saft Groupe S.A., AES Energy Storage, Alevo, Delco, Altair Nanotechnologies Inc.,
EnerDel, GNB Corporation, Ecoult, and Powertree Services Inc.
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