Summary

Utilizing a wide range of secondary sources, directories, and databases—including D&B, Factiva, and Bloomberg Businessweek—this research project aims to locate and gather data relevant to a technical, commercial, and market-oriented analysis of the market. The majority of primary sources are industry experts from the core and allied industries, preferred suppliers, manufacturers, distributors, service providers, technology developers, certification and standards bodies for businesses, and organizations involved in every step of the value chain in this industry.

The growing integration of renewable energy sources with battery storage is driving the grid scale battery market's compound annual growth rate. Grid-scale battery storage is another way that sustainable energy can be produced. Battery storage is one of various technology options that can improve power system flexibility and enable high renewable energy integration. Research and practical experience have demonstrated that substantial volumes of renewable energy from Variable Renewable Energy (VRE) sources may be safely and reliably integrated into interconnected energy networks without the need for additional energy storage facilities.

Additionally, demand for products is being driven by the need to increase grid stability, reliability, and resilience by incorporating energy supplied from renewable sources like solar photovoltaic and wind power. The market is growing as a feasible option to boost system flexibility because of its exceptional capacity to keep, absorb, and re-inject electricity. Global grid scale battery income is also probably driven by expanding consumer awareness of efficient energy use and a growing desire to save extra energy generated at the grid location with efficient load control.


Research Methodology:
After secondary research provided a fundamental understanding of the worldwide Grid-Scale Battery Market scenario, extensive primary research was carried out. A number of primary interviews were carried out with industry experts from the supply and demand sides, including C- and D-level executives, product managers, and marketing and sales managers of major manufacturers, distributors, and channel partners from tier 1 and tier 2 companies offering Grid-Scale Battery Market, as well as personnel from academia, research, and CROs. These interviews were conducted across five major regions: North America, Europe, Asia Pacific, and the Rest of the World (Latin America & the Middle East & Africa). Participants from the supply-side and demand-side participated in about 70% and 30% of the primary interviews, respectively. Through the use of questionnaires, emails, online surveys, in-person interviews, and phone interviews, this main data was gathered. The primary participants share is given below:

The segmentation coverage of the study is provided below.
Grid-Scale Battery Market based on Type:
• Lithium-Ion
• Lead Acid
• Others
Grid-Scale Battery Market based on Application:
• Renewable Integration
• Ancillary Services
• Others
Grid-Scale Battery Market based on Geography:
• North America
o US
o Canada
• Europe
o Germany
o UK
o France
o Italy
o Spain
o Rest of Europe (RoE)
• Asia Pacific (APAC)
o China
o Japan
o India
o Australia
o South Korea
o Rest of Asia Pacific (RoAPAC)
• Latin America (LATAM)
o Brazil
o Argentina
o Rest of South America
• Middle East and Africa (MEA)
o UAE
o Turkey
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
With a market share of over 84% in 2019, Li-ion batteries are expected to grow at the quickest rate during the forecast period. Because of advancements in technology and increased manufacturing capacity, these batteries are used extensively in a variety of applications. In the past six years, there has been a significant decrease in the cost of these goods, and this trend is expected to continue.

Lithium-ion batteries are also lightweight and take up less room. In addition, they have a faster charging time and greater durability than other items on the market. Over the course of the projection period, the lead-acid segment is expected to grow at a moderate CAGR. It is possible to recycle and repurpose lead-acid batteries in the production of new batteries. Over the future years, their demand is anticipated to soar due to these favorable qualities.
With over 63% of the global market share in 2019, ancillary services led the way and are expected to rise significantly over the next several years. It is anticipated that grid-scale battery storage would become increasingly dependent on clean energy sources like solar and wind power. In order to reduce the unpredictability and fluctuation of the wind power projects on a grid-scale, the operator employs battery storage devices that are sized for the grid to provide ancillary services.
A new auxiliary service called Enhanced Frequency reaction was unveiled in 2016. It requires storage batteries to meet its increased reaction time. In some countries, developers of big wind farms are required to comply with frequency regulation rules in order to reduce the need for increasing rotational reserve from conventional power plants. Large power plants are required to adhere to certain constraints in goods that are frequency regulated in countries that operate on improved frequency response (ancillary service) marketplaces.
Over the course of the forecast period, Asia Pacific is expected to have the greatest CAGR, coming in at 27.0%. China's revenue share was the highest in the area because of the government's continuous efforts and investments to support industrial growth.

The most developed and competitive geographic market is North America. The US market is now led by the lithium-ion battery category. These batteries' prices have dropped by more than 70% in the last few years due to advancements in technology and increased production capacity, and more price declines are anticipated.

Market players are placing a strong emphasis on R&D to create cutting-edge goods and obtain a competitive advantage. Innovative products have been developed in the field of battery manufacture and storage thanks to the efforts of well-established companies. Additionally, integration by businesses like Samsung SDI, GE, and ABB enables high-productivity, low-cost manufacturing. One of the main strategies being used by market participants is expanding the product line to increase base into new application markets.

This report illustrates the most vital attributes of the Grid-Scale Battery Market, which are driving and providing opportunities.
• This research gives an in-depth analysis of the Grid-Scale Battery Market growth on the basis of several segments in the market.
• This report presents the preUtilizing a wide range of secondary sources, directories, and databases—including D&B, Factiva, and Bloomberg Businessweek—this research project aims to locate and gather data relevant to a technical, commercial, and market-oriented analysis of the market. The majority of primary sources are industry experts from the core and allied industries, preferred suppliers, manufacturers, distributors, service providers, technology developers, certification and standards bodies for businesses, and organizations involved in every step of the value chain in this industry.

The growing integration of renewable energy sources with battery storage is driving the grid scale battery market's compound annual growth rate. Grid-scale battery storage is another way that sustainable energy can be produced. Battery storage is one of various technology options that can improve power system flexibility and enable high renewable energy integration. Research and practical experience have demonstrated that substantial volumes of renewable energy from Variable Renewable Energy (VRE) sources may be safely and reliably integrated into interconnected energy networks without the need for additional energy storage facilities.

Additionally, demand for products is being driven by the need to increase grid stability, reliability, and resilience by incorporating energy supplied from renewable sources like solar photovoltaic and wind power. The market is growing as a feasible option to boost system flexibility because of its exceptional capacity to keep, absorb, and re-inject electricity. Global grid scale battery income is also probably driven by expanding consumer awareness of efficient energy use and a growing desire to save extra energy generated at the grid location with efficient load control.


Research Methodology:
After secondary research provided a fundamental understanding of the worldwide Grid-Scale Battery Market scenario, extensive primary research was carried out. A number of primary interviews were carried out with industry experts from the supply and demand sides, including C- and D-level executives, product managers, and marketing and sales managers of major manufacturers, distributors, and channel partners from tier 1 and tier 2 companies offering Grid-Scale Battery Market, as well as personnel from academia, research, and CROs. These interviews were conducted across five major regions: North America, Europe, Asia Pacific, and the Rest of the World (Latin America & the Middle East & Africa). Participants from the supply-side and demand-side participated in about 70% and 30% of the primary interviews, respectively. Through the use of questionnaires, emails, online surveys, in-person interviews, and phone interviews, this main data was gathered. The primary participants share is given below:

The segmentation coverage of the study is provided below.
Grid-Scale Battery Market based on Type:
• Lithium-Ion
• Lead Acid
• Others
Grid-Scale Battery Market based on Application:
• Renewable Integration
• Ancillary Services
• Others
Grid-Scale Battery Market based on Geography:
• North America
o US
o Canada
• Europe
o Germany
o UK
o France
o Italy
o Spain
o Rest of Europe (RoE)
• Asia Pacific (APAC)
o China
o Japan
o India
o Australia
o South Korea
o Rest of Asia Pacific (RoAPAC)
• Latin America (LATAM)
o Brazil
o Argentina
o Rest of South America
• Middle East and Africa (MEA)
o UAE
o Turkey
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
With a market share of over 84% in 2019, Li-ion batteries are expected to grow at the quickest rate during the forecast period. Because of advancements in technology and increased manufacturing capacity, these batteries are used extensively in a variety of applications. In the past six years, there has been a significant decrease in the cost of these goods, and this trend is expected to continue.

Lithium-ion batteries are also lightweight and take up less room. In addition, they have a faster charging time and greater durability than other items on the market. Over the course of the projection period, the lead-acid segment is expected to grow at a moderate CAGR. It is possible to recycle and repurpose lead-acid batteries in the production of new batteries. Over the future years, their demand is anticipated to soar due to these favorable qualities.
With over 63% of the global market share in 2019, ancillary services led the way and are expected to rise significantly over the next several years. It is anticipated that grid-scale battery storage would become increasingly dependent on clean energy sources like solar and wind power. In order to reduce the unpredictability and fluctuation of the wind power projects on a grid-scale, the operator employs battery storage devices that are sized for the grid to provide ancillary services.
A new auxiliary service called Enhanced Frequency reaction was unveiled in 2016. It requires storage batteries to meet its increased reaction time. In some countries, developers of big wind farms are required to comply with frequency regulation rules in order to reduce the need for increasing rotational reserve from conventional power plants. Large power plants are required to adhere to certain constraints in goods that are frequency regulated in countries that operate on improved frequency response (ancillary service) marketplaces.
Over the course of the forecast period, Asia Pacific is expected to have the greatest CAGR, coming in at 27.0%. China's revenue share was the highest in the area because of the government's continuous efforts and investments to support industrial growth.

The most developed and competitive geographic market is North America. The US market is now led by the lithium-ion battery category. These batteries' prices have dropped by more than 70% in the last few years due to advancements in technology and increased production capacity, and more price declines are anticipated.

Market players are placing a strong emphasis on R&D to create cutting-edge goods and obtain a competitive advantage. Innovative products have been developed in the field of battery manufacture and storage thanks to the efforts of well-established companies. Additionally, integration by businesses like Samsung SDI, GE, and ABB enables high-productivity, low-cost manufacturing. One of the main strategies being used by market participants is expanding the product line to increase base into new application markets.

This report illustrates the most vital attributes of the Grid-Scale Battery Market, which are driving and providing opportunities.
• This research gives an in-depth analysis of the Grid-Scale Battery Market growth on the basis of several segments in the market.
• This report presents the predictions of the past and present trends of the Grid-Scale Battery Market.
• This study also presents the competitive analysis, such as key strategies and capabilities of major players of the Grid-Scale Battery Market.dictions of the past and present trends of the Grid-Scale Battery Market.
• This study also presents the competitive analysis, such as key strategies and capabilities of major players of the Grid-Scale Battery Market.

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Table of Contents

Table of Contents
1. Executive Summary
2. Industry Outlook
2.1. Industry Overview
2.2. Industry Trends
3. Market Snapshot
3.1. Market Definition
3.2. Market Outlook
3.2.1. Porter Five Forces
3.3. Related Markets
4. Market characteristics
4.1. Market Overview
4.2. Market Segmentation
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. DRO - Impact Analysis
5. Type: Market Size & Analysis
5.1. Overview
5.2. Lithium-Ion
5.3. Lead Acid
5.4. Others
6. Application: Market Size & Analysis
6.1. Overview
6.2. Renewable Integration
6.3. Ancillary Services
6.4. Others
7. Geography: Market Size & Analysis
7.1. Overview
7.2. North America (U.S., Mexico, Canada)
7.3. Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia, Rest of Europe)
7.4. Asia Pacific (Japan, China, India, Australia, South East Asia, Rest of APAC)
7.5. Latin America (Brazil, Argentina)
7.6. Middle East & Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East and Africa)
8. Competitive Landscape
8.1. Competitor Comparison Analysis
8.2. Market Developments
8.2.1. Mergers and Acquisitions, Legal, Awards, Partnerships
8.2.2. Product Launches and execution
9. Vendor Profiles
9.1. NGK INSULATORS LTD.
9.1.1. Overview
9.1.2. Financial Overview
9.1.3. Product Offerings
9.1.4. Developments
9.1.5. Business Strategy
9.2. BYD CO. LTD.
9.2.1. Overview
9.2.2. Financial Overview
9.2.3. Product Offerings
9.2.4. Developments
9.2.5. Business Strategy
9.3. GENERAL ELECTRIC
9.3.1. Overview
9.3.2. Financial Overview
9.3.3. Product Offerings
9.3.4. Developments
9.3.5. Business Strategy
9.4. GS YUASA CORP.
9.4.1. Overview
9.4.2. Financial Overview
9.4.3. Product Offerings
9.4.4. Developments
9.4.5. Business Strategy
9.5. LG CHEM LTD.
9.5.1. Overview
9.5.2. Financial Overview
9.5.3. Product Offerings
9.5.4. Developments
9.5.5. Business Strategy
9.6. MITSUBISHI ELECTRIC CORP.
9.6.1. Overview
9.6.2. Financial Overview
9.6.3. Product Offerings
9.6.4. Developments
9.6.5. Business Strategy
9.7. PANASONIC CORP.
9.7.1. Overview
9.7.2. Financial Overview
9.7.3. Product Offerings
9.7.4. Developments
9.7.5. Business Strategy
9.8. ABB GROUP
9.8.1. Overview
9.8.2. Financial Overview
9.8.3. Product Offerings
9.8.4. Developments
9.8.5. Business Strategy
9.9. HITACHI LTD.
9.9.1. Overview
9.9.2. Financial Overview
9.9.3. Product Offerings
9.9.4. Developments
9.9.5. Business Strategy
9.10. FLUENCE ENERGY
9.10.1. Overview
9.10.2. Financial Overview
9.10.3. Product Offerings
9.10.4. Developments
9.10.5. Business Strategy
10. Analyst Opinion
11. Annexure
11.1. Report Scope
11.2. Market Definitions
11.3. Research Methodology
11.3.1. Data Collation and In-house Estimation
11.3.2. Market Triangulation
11.3.3. Forecasting
11.4. Report Assumptions
11.5. Declarations
11.6. Stakeholders

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List of Tables/Graphs

Tables
TABLE 1. GRID-SCALE BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 2. GRID-SCALE BATTERY MARKET VALUE FOR LITHIUM-ION, BY GEOGRAPHY, 2021-2030 (USD BILLION)
TABLE 3. GRID-SCALE BATTERY MARKET VALUE FOR LEAD ACID, BY GEOGRAPHY, 2021-2030 (USD BILLION)
TABLE 4. GRID-SCALE BATTERY MARKET VALUE FOR OTHERS, BY GEOGRAPHY, 2021-2030 (USD BILLION)
TABLE 5. GRID-SCALE BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 6. GRID-SCALE BATTERY MARKET VALUE FOR RENEWABLE INTEGRATION, BY GEOGRAPHY, 2021-2030 (USD BILLION)
TABLE 7. GRID-SCALE BATTERY MARKET VALUE FOR ANCILLARY SERVICES, BY GEOGRAPHY, 2021-2030 (USD BILLION)
TABLE 8. GRID-SCALE BATTERY MARKET VALUE FOR OTHERS, BY GEOGRAPHY, 2021-2030 (USD BILLION)
TABLE 9. NORTH AMERICA GRID-SCALE BATTERY MARKET VALUE, BY COUNTRY, 2021-2030 (USD BILLION)
TABLE 10. NORTH AMERICA GRID-SCALE BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 11. NORTH AMERICA GRID-SCALE BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 12. U.S GRID-SCALE BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 13. U.S GRID-SCALE BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 14. CANADA GRID-SCALE BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 15. CANADA GRID-SCALE BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 16. MEXICO GRID-SCALE BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 17. MEXICO GRID-SCALE BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 18. EUROPE GRID-SCALE BATTERY MARKET VALUE, BY COUNTRY, 2021-2030 (USD BILLION)
TABLE 19. EUROPE GRID-SCALE BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 20. EUROPE GRID-SCALE BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 21. GERMANY GRID-SCALE BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 22. GERMANY GRID-SCALE BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 23. U.K GRID-SCALE BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 24. U.K GRID-SCALE BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 25. FRANCE GRID-SCALE BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 26. FRANCE GRID-SCALE BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 27. ITALY GRID-SCALE BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 28. ITALY GRID-SCALE BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 29. SPAIN GRID-SCALE BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 30. SPAIN GRID-SCALE BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 31. ROE GRID-SCALE BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 32. ROE GRID-SCALE BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 33. ASIA PACIFIC GRID-SCALE BATTERY MARKET VALUE, BY COUNTRY, 2021-2030 (USD BILLION)
TABLE 34. ASIA PACIFIC GRID-SCALE BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 35. ASIA PACIFIC GRID-SCALE BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 36. CHINA GRID-SCALE BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 37. CHINA GRID-SCALE BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 38. INDIA GRID-SCALE BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 39. INDIA GRID-SCALE BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 40. JAPAN GRID-SCALE BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 41. JAPAN GRID-SCALE BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 42. REST OF APAC GRID-SCALE BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 43. REST OF APAC GRID-SCALE BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 44. LATIN AMERICA GRID-SCALE BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 45. LATIN AMERICA GRID-SCALE BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 46. BRAZIL GRID-SCALE BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 47. BRAZIL GRID-SCALE BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 48. ARGENTINA GRID-SCALE BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 49. ARGENTINA GRID-SCALE BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 50. MIDDLE EAST AND AFRICA GRID-SCALE BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 51. MIDDLE EAST AND AFRICA GRID-SCALE BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 52. SAUDI ARABIA GRID-SCALE BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 53. SAUDI ARABIA GRID-SCALE BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 54. UAE GRID-SCALE BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 55. UAE GRID-SCALE BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 56. REST OF MIDDLE EAST AND AFRICA GRID-SCALE BATTERY MARKET VALUE, BY TYPE, 2021-2030 (USD BILLION)
TABLE 57. REST OF MIDDLE EAST AND AFRICA GRID-SCALE BATTERY MARKET VALUE, BY APPLICATION, 2021-2030 (USD BILLION)
TABLE 58. NGK INSULATORS LTD. : FINANCIALS
TABLE 59. NGK INSULATORS LTD. : PRODUCTS & SERVICES
TABLE 60. NGK INSULATORS LTD. : RECENT DEVELOPMENTS
TABLE 61. BYD CO. LTD.: FINANCIALS
TABLE 62. BYD CO. LTD.: PRODUCTS & SERVICES
TABLE 63. BYD CO. LTD.: RECENT DEVELOPMENTS
TABLE 64. GENERAL ELECTRIC: FINANCIALS
TABLE 65. GENERAL ELECTRIC: PRODUCTS & SERVICES
TABLE 66. GENERAL ELECTRIC: RECENT DEVELOPMENTS
TABLE 67. GS YUASA CORP.: FINANCIALS
TABLE 68. GS YUASA CORP.: PRODUCTS & SERVICES
TABLE 69. GS YUASA CORP.: RECENT DEVELOPMENTS
TABLE 70. LG CHEM LTD.: FINANCIALS
TABLE 71. LG CHEM LTD.: PRODUCTS & SERVICES
TABLE 72. LG CHEM LTD.: RECENT DEVELOPMENTS
TABLE 73. MITSUBISHI ELECTRIC CORP.: FINANCIALS
TABLE 74. MITSUBISHI ELECTRIC CORP.: PRODUCTS & SERVICES
TABLE 75. MITSUBISHI ELECTRIC CORP.: RECENT DEVELOPMENTS
TABLE 76. PANASONIC CORP.: FINANCIALS
TABLE 77. PANASONIC CORP.: PRODUCTS & SERVICES
TABLE 78. PANASONIC CORP.: DEVELOPMENTS
TABLE 79. ABB GROUP: FINANCIALS
TABLE 80. ABB GROUP: PRODUCTS & SERVICES
TABLE 81. ABB GROUP: RECENT DEVELOPMENTS
TABLE 82. HITACHI LTD.: FINANCIALS
TABLE 83. HITACHI LTD.: PRODUCTS & SERVICES
TABLE 84. HITACHI LTD.: RECENT DEVELOPMENTS
TABLE 85. FLUENCE ENERGY: FINANCIALS
TABLE 86. FLUENCE ENERGY: PRODUCTS & SERVICES
TABLE 87. FLUENCE ENERGY: RECENT DEVELOPMENTS