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MENA Stationary Battery Storage Market – Opportunities & Forecast, 2020-2027 - Gurgaon
Monday, 24 August, 2020
Item details
City:
Gurgaon, Haryana
Offer type:
Offer
Item description
The MENA stationary battery storage market is expected to experience strong demand over the coming years. This is mainly driven by the growing penetration of renewable energy across various countries, including the UAE, Saudi Arabia, and other countries, and the increasing consumption of energy, which is leading to an upsurge in the demand & production of electricity. Moreover, the increasing number of government initiatives regarding the use of sustainable energy sources has resulted in an increase in the adoption of stationary battery storage, and the increasing implementation of grid-scale and behind-the-meter batteries are some other factors surging the growth of the MENA stationary battery storage market size. Various research & development activities in battery technology and technological advancements in the battery to improve their performance are creating numerous opportunities for the MENA stationary battery storage market growth.
The reducing cost of the batteries, the introduction of energy storage projects, and the strong demand for the new infrastructure to modernize and expand the grid, are the significant factors boosting the growth of the MENA stationary battery storage market. On the other hand, the lack of familiarity with the storage technology, high upfront costs, and the lack of experienced & skilled technicians to operate these systems, are certain factors that are hampering the market growth.
The reducing cost of the batteries, the introduction of energy storage projects, and the strong demand for the new infrastructure to modernize and expand the grid, are the significant factors boosting the growth of the MENA stationary battery storage market. On the other hand, the lack of familiarity with the storage technology, high upfront costs, and the lack of experienced & skilled technicians to operate these systems, are certain factors that are hampering the market growth.
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