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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
North America Battery Storage Service Market Analysis by Region
The United States of America accounts for a significant market share due to the wider adoption of flow batteries. An increase in the adoption of flow batteries provides an opportunity for services like annual maintenance, new air filters and topping off the electrolyte. Battery storage systems are flexible and crucial to meet the energy needs of various stakeholders, such as energy markets, utilities, and customers in the USA.
The Canadian market, meanwhile, is driven by the growing government investments in renewable energy. In its 2023 federal budget, the Canadian government included a 15% refundable tax credit for investments in stationary power storage systems that do not make use of fossil fuels. Additionally, the governments of Canada and Ontario are working together to develop the largest battery storage project in the country, the 250-megawatt (MW) Oneida Energy storage project, propelling the North America battery storage service market expansion.
North America Battery Storage Service Market Report Snapshots
North America Battery Storage Service Market Size
North America Battery Storage Service Market Trends
North America Battery Storage Service Market Regional Analysis
North America Battery Storage Service Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market value was nearly USD 209.84 million.
The market is projected to grow at a CAGR of 13.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 893.11 million by 2032.
The major market drivers include government investments in renewable energy and the growing popularity of lithium-ion batteries.
The key trends include the growing adoption of renewable energy and technological advancements and innovations.
The different types of batteries include lithium-ion battery and flow battery, among others.
Major deployments of battery storage services include onsite and offsite.
The major players in the market include Glidepath Federal Solutions LLC, ZGlobal Inc, Convergent Energy and Power, General Electric Company, Stem, Inc., Fluence Energy, Inc., OCI Solar Power LLC, and CODA Energy Holdings LLC, among others.
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