Europe Lithium Ion Battery Market size, by application 2014-2024

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String Inverter Market Outlook Growing
environmental concerns and rising power supply
demand to augment the industry growth
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Global Market Scenario of String Inverter
Industry

• The surging requirement for continuous
  electricity supply will stimulate string inverter
  market value over the coming timeframe.
• Favorable features such as light weight, compact
  size, ability to increase power density, and ease
  of installation will notably influence the demand
  for string inverter. As per the report by Global
  Market Insights, Inc.,
• Global String inverter market is predicted to
  grow at an annual growth rate of 15 over the
  period of 2016 to 2024. Government rules and
  regulation regarding usage of renewable energy
  resources, owing to the depleting fossil fuel
  storages will also drive the worldwide string
  inverter industry share over the next few years.
• Single and three phase are the two key types of
  the string inverter. Three-phase string inverter
  market share, which was worth over USD 1 billion
  in 2015, is anticipated to exhibit significant
  growth over the coming years. The growth can be
  attributed to its increasing demand across the
  commercial and utility sectors.

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Continued...

• The commercial, residential, and utility are the
  prominent application areas of the string
  inverter market.
• The commercial application covered more than 70
  of the overall market share in 2015 and is
  projected to exhibit noticeable growth rate,
  driven by the growing urbanization along with
  huge investment in infrastructure development.
  The utility and residential applications also
  make substantial contributions towards the string
  inverter industry share.
• Based on the power rating, string inverter
  industry is primarily segmented into over 80KW,
  41KW-80KW, 11KW-40KW, and 10KW.
• The string inverter of capacity 11KW to 40KW
  collected a revenue of over USD 700 million in
  2015 and is anticipated to record a considerable
  growth rate, due to its surging demand from
  commercial complexes and small scale industries.

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Europe String Inverter Market size, by power
rating, 2015 2024 (MW)

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Continued...

• Renewable and grid storage applications will
  surpass USD 12 billion by 2024. Europe witnessed
  significant increase in infrastructure required
  for renewable energy storage, further propelling
  the lithium ion battery market size. In 2015,
  Germany produced more than 30 of its annual
  electricity demand from renewable energy sources.
• Lithium ion battery market size from consumer
  applications is predicted to surpass USD 14
  billion by 2024 owing to increasing portable
  electronic device demand. Growing adoption of
  portable electronic devices in the U.S. and
  Europe will positively impact business growth.
• U.S. li-ion battery market size was valued over
  USD 5 billion in 2015 and is expected to witness
  strong growth owing to high adoption of electric
  vehicles. Strict regulations to restrict the
  vehicular emission levels will further boost the
  industry landscape.

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360 Analysis

• Application Trends
• Consumer applications are predicted to exceed USD
  14 billion by 2024 due to growing personal mobile
  electronics demand. Growing emphasis on adoption
  of portable medical devices in developed
  countries will positively influence the industry
  landscape. Renewable and grid energy applications
  are predicted to witness growth of over 9 owing
  to increased emphasis on effective storage and
  use of sustainable sources in developed nations.
• Regional Trends
• U.S. lithium ion battery market share contributed
  over 70 of the regional revenue in 2015 and is
  expected to witness significant growth due to
  increasing electric vehicle demand with growing
  adoption of high quality consumer electronics
  products.
• Japan lithium ion battery market size was over
  USD 1 billion in 2015. The Battery Association of
  Japan reported a record 152 year on year
  increase in consumption volume on account of
  increasing regulations to restrict the carbon
  footprint.
• The Germany lithium ion battery market share will
  witness a robust growth owing to the high
  adoption of electric vehicles coupled with
  increasing consumer awareness towards
  environmentally friendly technologies.

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