The global battery energy storage system market revenue is expected to register a moderate CAGR over the forecast period. The global battery energy storage system market report has been segmented on the battery type, connection type, application, and region.

On the basis of battery type, the global market is segmented based on lithium-ion batteries, sodium–sulfur batteries, flow batteries, nickel cadmium batteries, and others. Lithium-ion batteries segment is expected to hold major revenue share of the battery energy storage system market.

On the basis of connection type, the global market is segmented based on on-grid connection, and off-grid connection. The on-grid connection segment is expected to register a highest CAGR of XX.X% over the forecast period.

On the basis of application, the global battery energy storage system market is segmented based on residential, non-residential, and utilities. The utilities segment is expected to account for major revenue share of the market and is expected to register a CAGR of XX.X% over the forecast period.

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On the basis of region, the global market is segmented based on North America, Europe, Latin America, Asia Pacific and Middle East and Africa. Market in Asia Pacific is expected to account for major revenue share of the market and register a significant growth rate over the forecast period. Countries like China, Japan, and India is expected to support growth of the market in the region. Growing demand for battery energy storage systems coupled with increasing demand for electricity the region owing to the rapidly growing population is major factor expected to support growth of market over the forecast period.

Some prominent players in the global battery energy storage system market are ABB Limited, LG Chem, NEC Corporation, Panasonic, Samsung SDI Ltd., AEG Power Solutions, General Electric, Hitachi Chemical Co. Ltd., Siemens AG, and Tesla Inc.

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