Advanced Energy Storage Systems, at Over 15% Growth reaching 11 GW by 2022
Advanced Energy Storage Systems Market size is experiencing a growth process higher than ever expected.
Increasing power consumption, driven by residential, commercial and infrastructure needs accompanied by favourable regulatory compliances to use electric vehicles are key factors stimulating global advanced energy storage systems market size growth.
Energy management in order to meet utility scale sized project grid demands are expected driving factors for fuel demand. These systems tend to manage energy resources flow effectively, hence reducing power plants set up which is ideal for remote locations.
Asia pacific is forecast to witness highest gains at 15.8% CAGR up to 2022. Rising industrialization accompanied by enhanced consumer lifestyle in India and China are major reasons foster regional growth (China reaches 22% increase on first quarter 2018 | China. One of the major advocates of global clean-energy expansion.)