Description :
Systems that can efficiently and conveniently store various forms of energy such as electrochemical , mechanical and so on are called as energy storage systems . One of te familiar example that is part of these systems are lithium ion batteries that are used in electric vehicles .
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Asia-Pacific dominates the entire energy storage systems market in 2015 with China being the super power . The region is flanked with established manufacturing brands for battery storage systems , such as Toshiba Corporation , LG Chem , BYD Company , and few others . Although the prices of batteries experience a decline worldwide , the market for battery storage grows rapidly . This further strengthens Asia ’ s hold over the worldwide energy systems market . et . Technological innovation in the battery storage systems marks the key trend in the Asia-Pacific market for energy storage systems . As the major battery manufacturers are located in the Asian countries , focused R & D to create developments in the already existing product portfolio for energy storage systems marks a trend in the Asian market for energy storage systems . Followed by Asia , Europe and North America holds a strong presence in the energy storage systems market .
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The report segments the world energy storage systems market on the basis of technology , end-user , applications , and geography . Based on the technology the market is segmented into pumped hydro storage , compressed air , sodium Sulphur , lithium ion , lead acid , nickel cadmium , flywheel , and redox-flow . Based on the type of end user , the market is segmented into residential , non-residential and utility . Further the market for energy storage systems based on the applications is segmented into grid storage and transportation . Geographic breakdown and deep analysis of each of the aforesaid segments is included for North America , Europe , Asia-Pacific , and LAMEA . The energy storage systems are undergoing continuous technological innovation that facilitates to overcome the traditional barriers of continuous energy supply . The market is growing rapidly mainly due to high investment by public & private players driving innovation in the market . For Instance , Axiom Exergy raised an investment of around $ 2.5 million from financial investors . This investment aimed at supporting the company ’ s innovative energy storage installation that targets grocery stores and other cooling loads . Agreement is a key strategy adopted by major players in the energy storage systems market
The key players in the market for energy storage systems market include ABB , AES Energy Storage , S & C Electric Company , LG Chem , Saft , Tesla Motors , Solar Grid Storage LLC , Exide technologies and others . Other prominent players in the market are Scheider Electric , SMA Solar Technology AG , Exide Industries Ltd ., SK Holdings ., Autobat SACI and others .
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