Grid-Scale Battery Market to Grow at a CAGR of 33.52% Annually Through 2023 | Mar 13, 2... - 0 views
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Almira Coyne on 26 Mar 20Northrook, IL -- (SBWIRE) -- 03/13/2020 -- According to the market report published by MarketsandMarkets™ "Grid-Scale Battery Market by Type (Lithium-Ion, Lead Acid, Flow Battery, Sodium-Based), Ownership-Model (Third-Party, Utility), Application (Renewable Integration, Peak Shift, Ancillary Services, Back-Up Power), and Region - Global Forecast to 2023", the global grid-scale battery market is expected to be valued at USD 1.37 billion in 2018 and is likely to grow at a CAGR of 33.52% during the forecast period to reach USD 5.82 billion by 2023. Factors driving the growth of the market include the increasing investments in renewable energy, reducing costs of grid-scale battery owing to technological advancements and expanded deployment.