Market New Research Smart Grid Storage Technology Market - 2021 | Page 2

distribution means. The high efficiency of power distribution accomplished through smart grids is the major driver
boosting the smart grid market.
The distribution segment dominated the market and accounted for the largest market share in 2015. This is due to the
factors such as the extension of T&D lines for improving electrification rate will drive the smart grid device installation
in the distribution sector. This segment is expected to grow at highest CAGR over the forecast period.
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Smart Grid Storage Technology Market is segmented geographically into North America, Europe (Eastern Europe,
Western Europe), Asia Pacific, Latin America, Middle East and Africa. North America accounted for the largest market
share of the Smart Grid Storage Technology Market and is anticipated to remain dominant over the forecast period
from 2014 to 2025. The market in this region is expected to grow rapidly over the forecast period due to increasing
investments in the smart grid systems and demand response programs.
Moreover, the modernization of the power sector in South American countries to improve operational efficiency,
reduce power theft, and improve the grid reliability will drive the growth scenarios for this market; followed by Europe,
and Asia Pacific. Asia Pacific is expected to grow at fastest pace over the forecast period between 2014 and 2025. This
is due to increasing smart grid infrastructure including smart metering, distribution automation, battery storage, and
others.
Key Players in the smart grid storage technology market are Altairnano, Beacon Power, Ice Energy, Xtreme Power, ABB
Ltd, Amber Kinetics, GE Energy Storage, Highview Power Storage, PolyPlus Battery Company, Samsung SDI Energy and
Sumitomo.
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Table of Contents
1 Smart Grid Storage Technology Overview
2 Global Smart Grid Storage Technology Market Competition by Manufacturers
3 Global Smart Grid Storage Technology Analysis by Region
4 Global Smart Grid Storage Technology Analysis by Type