Posted on Leave a comment

U.S. Advanced Battery Energy Storage System Market Revenue To Beat $780.5 Million By 2024, Driven By Alarming Need For Lowering Dependency On Fossil Fuels | Million Insights

U.S. Advanced Battery Energy Storage System Market Revenue To Beat $780.5 Million By 2024, Driven By Alarming Need For Lowering Dependency On Fossil Fuels | Million Insights
Million Insights – World’s Fastest Growing Market Research Database

According to new report available with Million Insights, the United States advanced battery energy storage system industry to witness enhanced demand in the upcoming years owing to technological advancements in the area of smart grids, home control devices, and smart metering.

The U.S. advanced battery energy storage system market size is projected to value at USD 780.5 million by 2024, according to a new report published by Million Insights. The presence of numerous market players coupled with technological advancement is projected to stimulate demand from 2016 to 2024.

The market is anticipated to observe a considerable increase in the upcoming years due to technological advancements in the area of smart grids, home control devices, and smart metering. Additionally, the increasing R&D activities and investments in the distributed energy storage sector are likely to augment the market growth during the projected period.

To download the sample PDF U.S. Advanced Battery Energy Storage System Market Report “please” click here: https://www.millioninsights.com/industry-reports/us-advanced-battery-energy-storage-system-market/request-sample

U.S. advanced battery energy storage system market

The growing concerns of government for declining the dependency on fossil fuels for catering to energy needs and a higher share of clean sources in the energy mix are predicted to boost the market demand for these systems in the grid storage from 2016 to 2024.

U.S. advanced battery energy storage system market

To browse report summary & detailed TOC, please click the link below: https://www.millioninsights.com/industry-reports/us-advanced-battery-energy-storage-system-market

Further key findings from the report suggest:

• The demand from the transportation segment is likely to register a CAGR of around 15% from 2016 to 2024. The need for commercial electric vehicles has been the key driver triggering the growth of these battery systems in the U.S. in recent years.

• The flow battery segment demand was worth USD 15 million in 2015. These batteries are gaining popularity due to higher storage capacity, cost-effective storage, and high safety levels. The U.S. DOE has been emphasizing the use of vanadium flow batteries for use in UPS systems installed in commercial places like hospitals.

• The manufacturers deliver the product through an expanded distribution network. Better technology in different end-use markets needs a shift towards advanced battery technology to fulfill the demand.

• The key players are primarily engaged in supplying the product directly to the end-users. Few of the main strategies adopted by market players include product development for expansion, technological development, and product differentiation for cost reduction and efficient battery storage to consumers.

Million Insights has segmented the U.S. advanced battery energy storage system market on the basis of product and application:

U.S. Advanced Battery Energy Storage System Product Outlook (Installed Capacity, MW; Revenue, USD Million, 2013 – 2024)

    • Lithium-ion Battery

    • Flow Battery

    • Others

U.S. Advanced Battery Energy Storage System Application Outlook (Installed Capacity, MW; Revenue, USD Million, 2013 – 2024)

    • Transportation

    • Grid Storage

    • UPS

    • Telecom

    • Others

Browse the Latest Press Releases Available with Million Insights:

Smart TV Market – The global smart tv market is estimated to arrive at 1.18 billion units by 2028. It is projected to develop by 20.8% CAGR from 2021 to 2028.

True Wireless Stereo Earbuds Market – The global true wireless stereo earbuds market size is estimated to arrive at USD 305,499.8 million by 2028. It is projected to develop by 36.1% CAGR from 2021 to 2028.

About Million Insights

Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.

Media Contact
Company Name: Million Insights
Contact Person: Ryan Manuel
Email: Send Email
Phone: 91-20-65300184
Address:Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar
City: Pune
State: Maharashtra
Country: India
Website: https://www.millioninsights.com/industry-reports/us-advanced-battery-energy-storage-system-market