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Global Energy Storage Market Records Biggest Jump Yet
The global energy storage market almost tripled in 2023, the largest year-on-year gain on record, and that growth is expected to continue.
In Europe, Middle East, and Africa, residential batteries will continue to be the largest source of storage demand, led in particular by Germany and Italy, as well as markets like Austria, Switzerland, Belgium, Sweden, Spain, and the UK. Major examples include South Korea-based LG Energy Solution and Samsung SDI, Japan-based Panasonic and Norway-based Freyr. BloombergNEF (BNEF) is a strategic research provider covering global commodity markets and the disruptive technologies driving the transition to a low-carbon economy.
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