Europe and South America Energy Storage Market Research Report by Technology (Pumped Hydro Storage, Battery Energy Storage, Compressed Air Energy Storage, Flywheel Energy Storage, Others), by Type (Mechanical, Thermal, Electro-Chemical, Chemical), by End-User (Utility, Commercial & Industrial, Residential), and by Region (Europe, South America) Forecast till 2035

TABLE OF CONTENTS 1 EXECUTIVE SUMMARY ...... 18 2 MARKET INTRODUCTION ........ 24 2.1 DEFINITION ....... 24 2.2 SCOPE OF THE STUDY ....... 24 2.3 RESEARCH OBJECTIVE ..... 24 2.4 MARKET STRUCTURE ....... 25 3 RESEARCH METHODOLOGY ....... 26 3.1 OVERVIEW ......... 26 3.2 DATA FLOW ....... 28 3.2.1 DATA MINING PROCESS ..... 29 3.3 PURCHASED DATABASE: ....... 30 3.4 SECONDARY SOURCES: ..... 31 3.4.1 SECONDARY RESEARCH DATA FLOW: ..... 32 3.5 PRIMARY RESEARCH: ........ 32 3.5.1 PRIMARY RESEARCH DATA FLOW: ......... 34 3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED ........ 35 3.6 APPROACHES FOR MARKET SIZE ESTIMATION: ...... 35 3.6.1 CONSUMPTION & NET TRADE APPROACH ....... 35 3.6.2 REVENUE ANALYSIS APPROACH ......... 35 3.7 DATA FORECASTING..... 36 3.7.1 DATA FORECASTING TECHNIQUE ......... 37 3.8 DATA MODELING ....... 38 3.8.1 MICROECONOMIC FACTOR ANALYSIS: ......... 38 3.8.2 DATA MODELING: ........ 39 3.9 TEAMS AND ANALYST CONTRIBUTION ....... 40 4 MARKET DYNAMICS ...... 43 4.1 INTRODUCTION ..... 43 4.2 DRIVERS ......... 44 4.2.1 RENEWABLE ENERGY EXPANSION ....... 44 4.2.2 POLICY & REGULATORY SUPPORT ..... 50 4.3 RESTRAINTS ..... 52 4.3.1 HIGH UPFRONT COSTS ........ 52 4.3.2 LACK OF FINANCIAL INCENTIVES/SUBSIDIES ........ 52 4.4 OPPORTUNITY ....... 55 4.4.1 FALLING BATTERY COSTS ..... 55 4.4.2 SOLAR + STORAGE GROWTH IN MINING SECTOR ...... 57 4.5 IMPACT ANALYSIS OF RUSSIA UKRAINE WAR ........ 57 4.6 IMPACT OF TRUMP 2.0 ..... 58 5 MARKET FACTOR ANALYSIS ....... 61 5.1 SUPPLY/VALUE CHAIN ANALYSIS ....... 61 5.1.1 RAW MATERIAL SOURCING ....... 61 5.1.2 COMPONENT MANUFACTURING ...... 62 5.1.3 ASSEMBLY & SYSTEM INTEGRATION ......... 63 5.1.4 LOGISTICS AND DISTRIBUTION ......... 63 5.1.5 END-USE APPLICATIONS ......... 63 5.2 PORTER’S FIVE FORCES MODEL: EUROPE ENERGY STORAGE MARKET ....... 65 5.2.1 THREAT OF NEW ENTRANTS – MODERATE ........ 65 5.2.2 THREAT OF SUBSTITUTES – MODERATE ...... 66 5.2.3 BARGAINING POWER OF SUPPLIERS – HIGH ..... 66 5.2.4 BARGAINING POWER OF BUYERS- MODERATE TO HIGH ....... 66 5.2.5 INTENSITY OF RIVALRY- HIGH ......... 67 5.3 PORTER’S FIVE FORCES MODEL: SOUTH AMERICA ENERGY STORAGE MARKET ........ 67 5.3.1 THREAT OF NEW ENTRANTS- MODERATE ..... 67 5.3.2 THREAT OF SUBSTITUTES – MODERATE ...... 67 5.3.3 BARGAINING POWER OF SUPPLIERS- HIGH ....... 68 5.3.4 BARGAINING POWER OF BUYERS- LOW TO MODERATE ....... 68 5.3.5 INTENSITY OF RIVALRY- MODERATE ....... 68 5.4 PESTLE ANALYSIS ......... 69 5.5 PRICING ANALYSIS, BY REGION, 2019-2035, USD/KW ........ 70 5.6 TECHNOLOGY ADVANCEMENTS ...... 70 5.6.1 COMPATIBILITY WITH END-USER INDUSTRIES ......... 70 5.6.2 ADVANCED TESTING AND ANALYSIS ......... 71 5.6.3 REGULATORY FRAMEWORK ........ 72 5.6.4 GOVERNMENT POLICIES ..... 72 5.6.6 CERTIFICATION AND STANDARDS ......... 74 6 EUROPE & SOUTH AMERICA ENERGY STORAGE MARKET, BY TECHNOLOGY ..... 77 6.1 OVERVIEW ......... 77 6.2 PUMPED HYDRO STORAGE ........ 77 6.3 BATTERY ENERGY STORAGE ........ 77 6.4 COMPRESSED AIR ENERGY STORAGE ....... 77 6.5 FLYWHEEL ENERGY STORAGE ..... 78 6.6 OTHERS ..... 78 7 EUROPE & SOUTH AMERICA ENERGY STORAGE MARKET, BY TYPE ..... 80 7.1 OVERVIEW ......... 80 7.2 MECHANICAL ........ 80 7.3 THERMAL ..... 80 7.4 ELECTRO-CHEMICAL ......... 80 7.5 CHEMICAL..... 81 8 EUROPE & SOUTH AMERICA ENERGY STORAGE MARKET, BY END-USER ...... 83 8.1 OVERVIEW ......... 83 8.2 UTILITY ..... 83 8.3 COMMERCIAL & INDUSTRIAL ........ 83 8.4 RESIDENTIAL ......... 83 9 EUROPE & SOUTH AMERICA ENERGY STORAGE MARKET, BY REGION ..... 85 9.1 OVERVIEW ......... 85 9.2 EUROPE ..... 86 9.2.1 GERMANY ....... 88 9.2.2 UK ...... 89 9.2.3 FRANCE ..... 90 9.2.4 RUSSIA ...... 92 9.2.5 ITALY ......... 93 9.2.6 SPAIN ....... 94 9.2.7 NETHERLANDS ........ 95 9.2.8 POLAND ........ 96 9.2.9 CZECH REPUBLIC ........ 98 9.2.10 ROMANIA........ 99 9.2.11 HUNGARY ........ 100 9.2.12 REST OF EUROPE ......... 102 9.3 SOUTH AMERICA ...... 104 9.3.1 BRAZIL ....... 105 9.3.2 ARGENTINA ...... 107 9.3.3 REST OF SOUTH AMERICA ....... 108 10 COMPETITIVE LANDSCAPE ......... 111 10.1 INTRODUCTION ..... 111 10.2 MARKET SHARE ANALYSIS, 2024 ......... 112 10.3 COMPETITION DASHBOARD ...... 112 10.4 COMPARATIVE ANALYSIS: KEY PLAYERS FINANCIAL ........ 113 10.5 KEY DEVELOPMENTS & GROWTH STRATEGIES ....... 113 10.5.1 ACQUISITION ..... 113 10.5.2 CAPACITY EXPANSION ....... 114 10.5.3 NEW PRODUCT LAUNCH ......... 114 11 COMPANY PROFILES ......... 115 11.1 ABB ........ 115 11.1.1 COMPANY OVERVIEW ........ 115 11.1.2 FINANCIAL OVERVIEW ....... 116 11.1.3 PRODUCTS OFFERED..... 116 11.1.4 KEY DEVELOPMENTS ......... 117 11.1.5 SWOT ANALYSIS ..... 117 11.1.6 KEY STRATEGY ....... 118 11.2 SIEMENS ........ 119 11.2.1 COMPANY OVERVIEW ........ 119 11.2.2 FINANCIAL OVERVIEW ....... 120 11.2.3 PRODUCTS OFFERED..... 120 11.2.4 KEY DEVELOPMENTS ......... 121 11.2.5 SWOT ANALYSIS ..... 121 11.2.6 KEY STRATEGY ....... 122 11.3 BYD ........ 123 11.3.1 COMPANY OVERVIEW ........ 123 11.3.2 FINANCIAL OVERVIEW ....... 124 11.3.3 PRODUCTS OFFERED..... 124 11.3.4 KEY DEVELOPMENTS ......... 124 11.3.5 SWOT ANALYSIS ..... 125 11.3.6 KEY STRATEGY ....... 126 11.4 TESLA ENERGY ..... 127 11.4.1 COMPANY OVERVIEW ........ 127 11.4.2 FINANCIAL OVERVIEW ....... 128 11.4.3 PRODUCTS OFFERED..... 128 11.4.4 KEY DEVELOPMENTS ......... 129 11.4.5 SWOT ANALYSIS ..... 129 11.4.6 KEY STRATEGY ....... 130 11.5 SMA SOLAR ....... 131 11.5.1 COMPANY OVERVIEW ........ 131 11.5.2 FINANCIAL OVERVIEW ....... 132 11.5.3 PRODUCTS OFFERED..... 132 11.5.4 KEY DEVELOPMENTS ......... 133 11.5.5 SWOT ANALYSIS ..... 133 11.5.6 KEY STRATEGY ....... 133 11.6 VARTA AG ..... 135 11.6.1 COMPANY OVERVIEW ........ 135 11.6.2 FINANCIAL OVERVIEW ....... 136 11.6.3 PRODUCTS OFFERED..... 136 11.6.4 KEY DEVELOPMENTS ......... 137 11.6.5 SWOT ANALYSIS ..... 137 11.6.6 KEY STRATEGY ....... 138 11.7 EATON ....... 139 11.7.1 COMPANY OVERVIEW ........ 139 11.7.2 FINANCIAL OVERVIEW ....... 140 11.7.3 PRODUCTS OFFERED..... 140 11.7.4 KEY DEVELOPMENTS ......... 140 11.7.5 SWOT ANALYSIS ..... 141 11.7.6 KEY STRATEGY ....... 141 11.8 WÄRTSILÄ ......... 142 11.8.1 COMPANY OVERVIEW ........ 142 11.8.2 FINANCIAL OVERVIEW ....... 143 11.8.3 PRODUCTS OFFERED..... 143 11.8.4 KEY DEVELOPMENTS ......... 144 11.8.5 SWOT ANALYSIS ..... 144 11.8.6 KEY STRATEGY ....... 144 11.9 SUNGROW ..... 145 11.9.1 COMPANY OVERVIEW ........ 145 11.9.2 FINANCIAL OVERVIEW ....... 146 11.9.3 PRODUCTS OFFERED..... 146 11.9.4 KEY DEVELOPMENTS ......... 146 11.9.5 SWOT ANALYSIS ..... 147 11.9.6 KEY STRATEGY ....... 147 11.10 BATTLINK ..... 148 11.10.1 COMPANY OVERVIEW ........ 148 11.10.2 FINANCIAL OVERVIEW ....... 149 11.10.3 PRODUCTS OFFERED..... 149 11.10.4 KEY DEVELOPMENTS ......... 149 11.10.5 SWOT ANALYSIS ..... 149 11.10.6 KEY STRATEGY ....... 150 11.11 DATA CITATIONS ...... 151

LIST OF TABLES TABLE 1 QFD MODELING FOR MARKET SHARE ASSESSMENT 39 TABLE 1 EUROPE & SOUTH AMERICA ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 79 TABLE 2 EUROPE & SOUTH AMERICA ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 81 TABLE 3 EUROPE & SOUTH AMERICA ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 84 TABLE 4 EUROPE & SOUTH AMERICA ENERGY STORAGE MARKET, BY REGION, 2019-2035 (USD MILLION) 85 TABLE 5 EUROPE ENERGY STORAGE MARKET, BY COUNTRY, 2019-2035 (USD MILLION) 86 TABLE 6 EUROPE ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 87 TABLE 7 EUROPE ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 87 TABLE 8 EUROPE ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 87 TABLE 9 GERMANY ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 88 TABLE 10 GERMANY ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 88 TABLE 11 GERMANY ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 89 TABLE 12 UK ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 89 TABLE 13 UK ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 90 TABLE 14 UK ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 90 TABLE 15 FRANCE ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 90 TABLE 16 FRANCE ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 91 TABLE 17 FRANCE ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 91 TABLE 18 RUSSIA ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 92 TABLE 19 RUSSIA ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 92 TABLE 20 RUSSIA ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 92 TABLE 21 ITALY ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 93 TABLE 22 ITALY ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 93 TABLE 23 ITALY ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 94 TABLE 24 SPAIN ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 94 TABLE 25 SPAIN ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 94 TABLE 26 SPAIN ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 95 TABLE 27 NETHERLANDS ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 95 TABLE 28 NETHERLANDS ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 96 TABLE 29 NETHERLANDS ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 96 TABLE 30 POLAND ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 96 TABLE 31 POLAND ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 97 TABLE 32 POLAND ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 97 TABLE 33 CZECH REPUBLIC ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 98 TABLE 34 CZECH REPUBLIC ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 98 TABLE 35 CZECH REPUBLIC ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 99 TABLE 36 ROMANIA ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 99 TABLE 37 ROMANIA ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 100 TABLE 38 ROMANIA ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 100 TABLE 39 HUNGARY ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 100 TABLE 40 HUNGARY ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 101 TABLE 41 HUNGARY ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 101 TABLE 42 REST OF EUROPE ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 102 TABLE 43 REST OF EUROPE ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 102 TABLE 44 REST OF EUROPE ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 103 TABLE 45 SOUTH AMERICA ENERGY STORAGE MARKET, BY COUNTRY, 2019-2035 (USD MILLION) 104 TABLE 46 SOUTH AMERICA ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 104 TABLE 47 SOUTH AMERICA ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 105 TABLE 48 SOUTH AMERICA ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 105 TABLE 49 BRAZIL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 105 TABLE 50 BRAZIL ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 106 TABLE 51 BRAZIL ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 106 TABLE 52 ARGENTINA ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 107 TABLE 53 ARGENTINA ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 107 TABLE 54 ARGENTINA ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 108 TABLE 55 REST OF SOUTH AMERICA ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 108 TABLE 56 REST OF SOUTH AMERICA ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 108 TABLE 57 REST OF SOUTH AMERICA ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 109 TABLE 58 COMPETITION DASHBOARD: EUROPE AND SOUTH AMERICA ENERGY STORAGE MARKET 112 TABLE 59 COMPARATIVE ANALYSIS: KEY PLAYERS FINANCIAL 113 TABLE 60 ACQUISITION 113 TABLE 61 CAPACITY EXPANSION 114 TABLE 62 NEW PRODUCT LAUNCH 114 TABLE 63 ABB PRODUCTS OFFERED 116 TABLE 64 ABB: KEY DEVELOPMENTS 117 TABLE 65 SIEMENS COMPANY: PRODUCTS OFFERED 120 TABLE 66 SIEMENS COMPANY: KEY DEVELOPMENTS 121 TABLE 67 BYD PRODUCTS OFFERED 124 TABLE 68 BYD: KEY DEVELOPMENTS 124 TABLE 69 TESLA ENERGY PRODUCTS OFFERED 128 TABLE 70 TESLA ENERGY KEY DEVELOPMENTS 129 TABLE 71 SMA SOLAR: PRODUCTS OFFERED 132 TABLE 72 SMA SOLAR: KEY DEVELOPMENT 133 TABLE 73 VARTA AG PRODUCTS OFFERED 136 TABLE 74 EATON. PRODUCTS OFFERED 140 TABLE 75 WÄRTSILÄ.PRODUCTS OFFERED 143 TABLE 76 SUNGROW PRODUCTS OFFERED 146 TABLE 77 BATTLINK: PRODUCTS OFFERED 149 LIST OF FIGURES FIGURE 1 EUROPE AND SOUTH AMERICA ENERGY STORAGE MARKET SNAPSHOT, 2024 21 FIGURE 2 EUROPE AND SOUTH AMERICA ENERGY STORAGE MARKET: STRUCTURE 25 FIGURE 3 EUROPE AND SOUTH AMERICA ENERGY STORAGE MARKET: MARKET GROWTH FACTOR ANALYSIS (2019-2035) 43 FIGURE 4 SHARE OF RENEWABLES IN NET ELECTRICITY GENERATION ACROSS EU COUNTRIES IN 2024 AND BREAKDOWN OF RENEWABLE ENERGY SOURCES IN THE EU ELECTRICITY GENERATION MIX, 2024 44 FIGURE 5 ANNUAL INSTALLED ONSHORE AND OFFSHORE WIND POWER CAPACITY IN EUROPE (2014–2023) AND TOP WIND POWER INSTALLERS IN EUROPE – 2023 (IN GW) 45 FIGURE 6 TOP 10 COUNTRIES BY INSTALLED HYDROPOWER CAPACITY (MW) 2024 46 FIGURE 7 TOP 10 COUNTRIES BY INSTALLED HYDROPOWER CAPACITY (MW) 2024 47 FIGURE 8 SOLAR DISTRIBUTED GENERATION CAPACITY IN BRAZIL (2013–2023) AND SOLAR DISTRIBUTED GENERATION CAPACITY IN BRAZIL, BY STATE (2023/2024) 48 FIGURE 9 SOUTH AMERICA’S ELECTRICITY GENERATION BY SOURCE IN 2024 48 FIGURE 10 TOP COUNTRIES IN SOUTH AMERICA RANKED BY TOTAL INSTALLED HYDROPOWER CAPACITY IN 2024 (MW) AND TOP COUNTRIES BY CAPACITY ADDED IN 2024 (MW) 49 FIGURE 11 DRIVER IMPACT ANALYSIS (2025-2035) 51 FIGURE 12 RESTRAINT IMPACT ANALYSIS (2025-2035) 54 FIGURE 13 VOLUME-WEIGHTED AVERAGE LITHIUM-ION BATTERY PRICES BY COMPONENT (2013–2024, REAL 2024 $/KWH) 55 FIGURE 14 SUPPLY CHAIN: EUROPE AND SOUTH AMERICA ENERGY STORAGE MARKET 61 FIGURE 15 PORTER'S FIVE FORCES ANALYSIS OF THE ENERGY STORAGE MARKET 65 FIGURE 16 EUROPE & SOUTH AMERICA ENERGY STORAGE MARKET, BY TECHNOLOGY, 2024 (% SHARE) 79 FIGURE 17 EUROPE & SOUTH AMERICA ENERGY STORAGE MARKET, BY TYPE, 2024 (% SHARE) 82 FIGURE 18 EUROPE & SOUTH AMERICA ENERGY STORAGE MARKET, BY END-USER, 2024 (% SHARE) 84 FIGURE 19 EUROPE & SOUTH AMERICA ENERGY STORAGE MARKET, BY REGION, 2024 (% SHARE) 85 FIGURE 20 EUROPE AND SOUTH AMERICA ENERGY STORAGE MARKET MAJOR PLAYERS MARKET SHARE ANALYSIS, 2024 (%) 112 FIGURE 21 ABB FINANCIAL OVERVIEW 116 FIGURE 22 ABB.: SWOT ANALYSIS 117 FIGURE 23 SIEMENS FINANCIAL OVERVIEW 120 FIGURE 24 SIEMENS COMPANY: SWOT ANALYSIS 121 FIGURE 25 BYD FINANCIAL OVERVIEW 124 FIGURE 26 BYD ELECTRIC SWOT ANALYSIS 125 FIGURE 27 TESLA ENERGY FINANCIAL OVERVIEW 128 FIGURE 28 TESLA ENERGY, SWOT ANALYSIS 129 FIGURE 29 SMA SOLAR: FINANCIAL OVERVIEW 132 FIGURE 30 SMA SOLAR: SWOT ANALYSIS 133 FIGURE 31 VARTA AG FINANCIAL OVERVIEW 136 FIGURE 32 VARTA AGSWOT ANALYSIS 137 FIGURE 33 EATON FINANCIAL OVERVIEW 140 FIGURE 34 EATON.SWOT ANALYSIS 141 FIGURE 35 WÄRTSILÄ.FINANCIAL OVERVIEW 143 FIGURE 36 WÄRTSILÄ SWOT ANALYSIS 144 FIGURE 37 SUNGROW FINANCIAL OVERVIEW SNAPSHOT 146 FIGURE 38 SUNGROW SWOT ANALYSIS 147 FIGURE 39 BATTLINK SWOT ANALYSIS 149