The global battery energy storage market will to grow to $13.13 billion by 2023, according to a new forecast by GlobalData. Asia-Pacific (APAC) and EMEA will be the dominant markets for battery energy storage systems over the forecast period 2019-2023. The company’s latest report “ Battery Energy Storage Market, Update 2019 – Global Market Size, Competitive Landscape and Key Country Analysis to 2023 ” finds that the fall in technology prices and increasing pace of development in the power market are the primary driving factors for the battery energy storage market. APAC will continue to be the largest market, reaching $6.05 billion in 2023, as countries are increasing investments for improving their grid infrastructure and improving the market structure to attract foreign investments. With respect to technology, Lithium-ion is and will continue to be, the preferred technology for market deployment. The US has been the largest market for Battery […]