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The AESS market size is forecast to increase by USD 9.83 billion at a CAGR of 10.98% between 2023 and 2028. The market is witnessing significant growth due to the increasing adoption of renewable energy sources and the need for grid stability. Electrochemical storage, including batteries and supercapacitors, and chemical storage, such as compressed air energy storage and pumped hydro storage, are the two main types of AESS. Lithium-ion batteries are currently the most dominant battery technology in the market, driven by their high energy densities and improving costs. However, the high initial costs and uncertainty regarding long-term returns remain challenges for the market. In the US, the growing trend towards electrifying transportation, particularly with Electric Vehicles (EVs), is driving demand for advanced energy storage systems to support the charging and discharging of these vehicles. Key players in the market are focusing on developing new battery technologies and improving the performance and safety of existing ones to address these challenges and capture market share.
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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