Frequently Asked Questions
The COVID-19 pandemic outbreak caused an international economic downturn. Strict lockdowns were implemented in several nations to contain the infection, which led to the temporary closure of manufacturing facilities and the disruption of supply chains and production schedules. Industries suffered due to supply chain disruptions and workforce restrictions brought on by the widespread lockdowns.
Asia Pacific accounted for the most heightened share in the global Battery Energy Storage Systems for Smart Grid market.
The Battery Energy Storage Systems for Smart Grid market are driven by the global increase in rural electrification projects, technological advancements, and the ongoing renewable energy revolution.
The flow battery segment had a major share in the global market in 2022.
The Energy Management segment had a major share in the global market.