Advanced Energy Storage Systems Market To Be Driven By Rising Demand For Utility Scale Energy Generation Till 2022: Grand View Research, Inc.
As per the estimations of a report published by Grand View Research, Inc.; the global advanced energy storage systems market would reach around USD 6.93 billion by 2022. Rising demand for utility scale energy generation, especially during peak hours is projected to augment the demand for advanced energy storage systems. Such systems efficiently manage power resources, thereby eliminating the need for utility scale energy generation units. This factor significantly reduces fixed costs and thus plays a vital role in boosting the growth of the global market.