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Energy Storage market to boom in next decade

Many research firm have estimated that energy storage market is likely to grow to more than 3000+ GWh over next 15 years. Global energy demand has been transforming from conventional source to renewable source, where developments in energy storage will play a vital role. Usage of storage in mobility, stationary storage and usage in electronic devices will be the main key drivers of storage across globe. Researchers are continually innovating technologies such as such as solid-state batteries and flow batteries to improve its usage in commercialization. Light-duty vehicles are predicted to remain as the largest market with a predicted $24 billion increase in revenue by the end of 2022. Battery recycling, electric aviation, flow batteries, thin-film batteries, and solid-state battery improvements may nurture to become new evolving business in future.