Distributed Energy Storage System Market Set to Expand as Demand for Reliable and Clean Energy Sources Grows

Brand Story
26 May 2023, 06:59 GMT+10

The global Distributed Energy Storage System Market refers to the industry that manufactures and sells navigation systems used in orthopaedic surgeries. These systems are intended to help surgeons place implants, align bones, and perform other complex procedures. Advanced imaging technology is used in navigation systems to create a 3D map of the patient's anatomy, which is then used to guide the surgeon during the procedure.

The growing prevalence of orthopaedic disorders, particularly among the elderly, is driving the market. The increased number of orthopaedic surgeries, including joint replacement surgeries, is expected to increase demand for navigation systems in the coming years. Furthermore, technological advancements in navigation systems, such as the incorporation of robotics, artificial intelligence, and augmented reality, are expected to have a positive impact.

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Key Takeaways from Market Study

The global market for distributed energy storage systems is projected to grow 2.5X and reach US$ 10.6 billion by 2032.

The market exhibited 7.2% CAGR between 2017 and 2021.

Under battery type, lithium-ion batteries dominate with US$ 1.5 billion valuation in 2022.

North America accounted for a market of 27.5% market in 2021.

East Asia represents 21.5% market share in 2022.

Distributed energy storage system sales are expected to increase at CAGRs of 11.4% and 9.4% in East Asia and North America, respectively.

Market Development

Collaborations between various companies, from power, battery, and electric vehicles, to construct distributed energy storage systems has had a significant impact on overall market expansion. Advancements in storage systems such as enhanced power storage capacity, integration of smart features such as control and monitoring of power generation and consumption, use of synthetic hydrogen and methane, utilization of various distributed energy resources, and others have created significant market growth opportunities.

Competitive Landscape

Tensorpack T 200kWh/100kW distributed energy storage DES system, battery, and energy management system from Lingtan Intelligence were made available in June 2022. It integrated batteries, a thermal management system, a DC/AC bidirectional converter, and a fire protection system inside the cabinet.
Gogoro, Taipower, and Enel X joined forces in October 2021 to provide bidirectional charging through their battery swapping stations. By utilizing more varied sources, this will broaden distributed energy storage systems.
SimpliPhi Power and Lumin joined forces in September 2021 to release a user-friendly app to track the production, use, and management of storage systems.

Original Source of the original story >> Distributed Energy Storage System Market Set to Expand as Demand for Reliable and Clean Energy Sources Grows