Energy Storage Systems Market Size, Share, Trend, Forecast, & Industry Analysis – 2022-2028
Energy storage systems market demand was estimated at 210.94 GW in 2021 and is likely to grow at a CAGR of 11.1% from 2022-2028 to reach 440.71 GW in 2028. A device or a group of technologies that gather, store, and release energy for later use is an energy storage system (ESS). It entails changing electrical energy into another substance that may be retained and retrieved later. Energy storage systems are essential for achieving grid stability, balancing energy supply and demand, and maximizing the use of renewable energy sources.