Battery Market: What's Driving It?

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2024-12-02 09:22:13 -

𝗘𝘅𝗽𝗹𝗼𝗿𝗶𝗻𝗴 𝘁𝗵𝗲 𝗕𝗮𝘁𝘁𝗲𝗿𝘆 𝗠𝗮𝗿𝗸𝗲𝘁: 𝗪𝗵𝗮𝘁’𝘀 𝗙𝘂𝗲𝗹𝗶𝗻𝗴 𝗜𝘁𝘀 𝗚𝗿𝗼𝘄𝘁𝗵?

The battery market was valued at $112.1 billion in 2021 and is expected to reach $406.1 billion by 2030 at a CAGR of 15.9% during the forecast period, 2022-2030, according to Next Move Strategy Consulting. The growing popularity of renewable energy sources owing to the increasing global government initiatives and rising environmental awareness among people has led to the high demand for energy storage systems (ESS), driving the growth of the battery market.

𝗘𝘅𝗽𝗹𝗼𝗿𝗶𝗻𝗴 𝘁𝗵𝗲 𝗕𝗮𝘁𝘁𝗲𝗿𝘆 𝗠𝗮𝗿𝗸𝗲𝘁: 𝗪𝗵𝗮𝘁’𝘀 𝗙𝘂𝗲𝗹𝗶𝗻𝗴 𝗜𝘁𝘀 𝗚𝗿𝗼𝘄𝘁𝗵? The battery market was valued at $112.1 billion in 2021 and is expected to reach $406.1 billion by 2030 at a CAGR of 15.9% during the forecast period, 2022-2030, according to Next Move Strategy Consulting. The growing popularity of renewable energy sources owing to the increasing global government initiatives and rising environmental awareness among people has led to the high demand for energy storage systems (ESS), driving the growth of the battery market.