South America Battery Energy Storage System Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
South America's energy storage solutions suited to support and complement energy systems with increasing amounts of renewable energy sources are attracting investors, utilities, installers, manufacturers, and project developers from all over the world. The South America battery energy storage system market is expected to grow at a CAGR of over 9.5% during the forecast period 2020-2025. Factors such as the increasing levels of renewable energy penetration, increasing demand for grid flexibility, and the declining price of lithium-ion batteries are expected to drive the market during the forecast period. However, the greater variability and uncertainty of renewable energy sources in the region and the high initial investment required for the installation of the battery energy storage system are expected to hinder the growth of the market studied.
Key HighlightsThe South America battery energy storage system market is moderately fragmented. Some of the major key players in the market include Enel S.p.A., AES Gener S.A., BYD Co Ltd, Engie SA, and Acumuladores Moura S. A.
Additional Benefits:Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook