The grid connected battery storage systems provides uninterruptible power and reduces the energy costs leading to better power management.
The increasing demand for renewable energy and rising diesel costs are significantly intensifying the need for battery storage systems in the power grids. Increased knowledge of the benefits provided by these installations among the utilities would make these storage batteries more competitive in the market.
It is expected that the rapidly increasing levels of renewable energy penetration in countries across the globe will help spur energy storage adoption. In the future, it is expected that photovoltaic (PV) plus storage will create the largest opportunity market for BESS.
In the Asia-Pacific region, South Korea led the regional market with a share of 31.3% with respect to projects installed up to 2019. South Korea is expected to show promising growth in the forecast period. This is because the South Korean government has earmarked KRW40 trillion ($35.7 billion) for the renewable energy sector over the next five years, as it unveiled a plan to reward solar plant operators for installing energy storage facilities.
The Global Grid-Connected Battery Storage Market size was xxx million USD with a CAGR xx % from 2018- 2022. It will stretch to xxx million USD in 2023 with a CAGR of xx % from 2023-2030.

As the report focuses on global Grid-Connected Battery Storage Market, mainly in Europe and Asia Pacific, North America, Middle East and Africa, and South America. This report segmented the Market on the basis of regions, manufacturers, applications, and type.

in addition, this report introduces Market competition situation among the vendors and company profile, besides, Market price analysis and value chain features are covered in this report.

In Market segmentation by manufacturers, the report covers the following companies-
NGK Insulators
Samsung SDI
Younicos
LG
Johnson Controls
SANYO Electric
Panasonic
GS Yuasa
Sumitomo
BYD Auto
AES
A123 Systems

In Market segmentation by geographical regions, the report has analyzed the following regions-
North America (USA, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

In Market segmentation by types covers:
Battery Enclosures
Battery Charge Controller
Sub Panels For Load Circuits

In Market segmentation by applications :
Solar Energy
Wind Power Energy

Apart from the drivers, restraints, and opportunities, the report also offers competitive landscape, including various growth strategies adopted by profiled players for establishing significant position in the industry. The segmentation included in the comprehensive report will help respectable manufacturers to set up their processing units in the regions and increase their global presence. This would also benefit the industry and increase the company\'s product portfolio.

The research provides answers to the following key questions:
• What is the estimated growth rate and Market share and size of the Grid-Connected Battery Storage Market for the forecast period 2023-2030?
• What are the driving forces in the Grid-Connected Battery Storage Market for the forecast period 2023-2030?
• Who are the prominent Market players and how have they gained a competitive edge over other competitors?
• What are the Market trends influencing the progress of the Grid-Connected Battery Storage industry worldwide?
• What are the major challenges and threats restricting the progress of the industry?
• What opportunities does the Market hold for the prominent Market players?
Any special requirements about this report, please let us know and we can provide custom report.

Note – In order to provide more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19.

Research Methodology

The Market Research Update offers technology-driven solutions and its full integration in the research process to be skilled at every step. We use diverse assets to produce the best results for our clients. The success of a research project is completely reliant on the research process adopted by the company. Market Research Update assists its clients to recognize opportunities by examining the global market and offering economic insights. We are proud of our extensive coverage that encompasses the understanding of numerous major industry domains.

Market Research Update provide consistency in our research report, also we provide on the part of the analysis of forecast across a gamut of coverage geographies and coverage. The research teams carry out primary and secondary research to implement and design the data collection procedure. The research team then analyzes data about the latest trends and major issues in reference to each industry and country. This helps to determine the anticipated market-related procedures in the future. The company offers technology-driven solutions and its full incorporation in the research method to be skilled at each step.

The Company's Research Process Has the Following Advantages:

1. Information Procurement

The step comprises the procurement of market-related information or data via different methodologies & sources.

2. Information Investigation

This step comprises the mapping and investigation of all the information procured from the earlier step. It also includes the analysis of data differences observed across numerous data sources.

3. Highly Authentic Source

We offer highly authentic information from numerous sources. To fulfills the client’s requirement.

4. Market Formulation

This step entails the placement of data points at suitable market spaces in an effort to assume possible conclusions. Analyst viewpoint and subject matter specialist based examining the form of market sizing also plays an essential role in this step.

5. Validation & Publishing of Information

Validation is a significant step in the procedure. Validation via an intricately designed procedure assists us to conclude data-points to be used for final calculations.