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Bushveld Minerals

Battery storage market will be worth $13 billion by 2023

As renewable energy capacity rises around the globe, markets are changing, creating opportunities for new businesses and technologies.

One of the primary beneficiaries of the tide of renewable energy is a battery storage industry whose global market volume will rise to $13.13 billion by 2023, buoyed by necessity and falling system prices.

That is the prediction made by market analysis company Globaldata in its Battery Energy Storage Market.

According to the analysts, the APAC region made up 45% of the world’s installed battery storage capacity last year. The region will continue on that trajectory, said Globaldata.

Bushveld Minerals Limited (LON:BMN), together with its subsidiaries, engages in the exploration and development of mineral projects in South Africa. It operates through three segments: Vanadium and Iron Ore, Coal Exploration, and Vanadium Mining and Production.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.