Battery Energy Storage Systems Market
Battery Energy Storage Systems - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Battery Energy Storage Systems Market is accounted for $2.71 billion in 2019 and is expected to reach $31.00 billion by 2027 growing at a CAGR of 35.6% during the forecast period. Some of the key factors propelling the market growth include increasing demand for grid-connected solutions, high demand for the lithium-ion technology in the renewable energy industry, growing global energy consumption along with increased energy efficiency requirements, and increasing government funding in grid installations. However, high capital investment required for the deployment is restraining the market growth.
Battery energy storage systems are the system that is used to store the electricity produced by the power plants, particularly renewable power plants. It helps in monitoring and controlling the generated electricity accurately. Battery energy storage system uses advanced physics-based models in order to provide robust operation of the storage system. The stored electricity can be later used in supplying electricity to the consumers during power fluctuations in poor weather conditions. This is an important benefit especially when the demand for electricity grows and exceeds the supply.
By battery type, the lithium-ion batteries segment is anticipated to grow at the significant rate during the forecast period, due to the lithium-ion batteries not only reliable cycle life but also high energy and power density in terms of volume, high charge/discharge efficiency, and low maintenance needs. Furthermore, these batteries have lighter weight than nickel–cadmium and nickel metal-hydride batteries. These batteries have very high energy and power densities, which leads to lower weight with low standby losses, and high life expectancy.
On the basis of geography, Asia Pacific is gradually becoming a hub for the battery energy storage system industry. The demand for battery energy storage systems from China, India, and Japan is gradually increasing. The electricity demand in China is on rise due to the rapid population growth in the country. To fulfill the increasing demand from this population, the state-owned State Grid Corporation of China, the world’s largest utility, has deployed battery energy storage systems to provide ancillary services throughout its grid.
Some of the key players in battery energy storage systems market include ABB Group, AEG Power Solutions BV, Alevo Group SA, Corvus Energy, East Penn Manufacturing Co., Inc., EnerDel, Inc., Exergonix, GE Power, Hitachi Ltd., LG Chem Ltd., Mitsubishi Heavy Industries Ltd., NEC Energy Solutions, NGK Insulators Ltd., Panasonic Corporation, Samsung SDI Co., Ltd, Siemens AG, Tesla, Inc., The AES Corporation, Toshiba Infrastructure Systems & Solutions, and TrinaBESS.
Battery Types Covered:
• Advanced Lead-Acid Batteries
• Flow Batteries
• Lithium-Ion Batteries
• Sodium-ion Batteries
• Sodium–Sulfur Batteries
• Other Battery Types
Ownerships Covered:
• Third-Party Owned
• Customer Owned
• Utility Owned
Elements Covered:
• Hardware
• Battery
Connection Types Covered:
• Off-Grid Connection
• On-Grid Connection
Applications Covered:
• Utilities
• Residential
• Non-Residential
• Commercial
• Industrial
• Automotive
Technologies Covered:
• Frequency regulation
• Load leveling
• Peak shaving
• Peak demand shifting
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Technology Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Battery Energy Storage Systems Market, By Battery Type
5.1 Introduction
5.2 Advanced Lead-Acid Batteries
5.3 Flow Batteries
5.3.1 Iron-chromium Flow Batteries
5.3.2 Hybrid Flow Batteries
5.3.2.1 Zinc Hybrid Cathode
5.3.3 Vanadium Redox Batteries
5.3.4 Redox Flow Batteries
5.4 Lithium-Ion Batteries
5.4.1 Lithium Manganese Oxide
5.4.2 Lithium Cobalt Oxide
5.4.3 Lithium Nickel Manganese Cobalt Oxide (NMC)
5.4.4 Lithium Nickel Cobalt Aluminum Oxide
5.4.5 Lithium Iron Phosphate (LFP)
5.4.6 Lithium Titanate
5.5 Sodium-ion Batteries
5.6 Sodium–Sulfur Batteries
5.7 Other Battery Types
5.7.1 Nickel Metal Hydride Battery
5.7.2 Nickel–Cadmium Battery
5.7.3 Nickel–Iron Battery
6 Global Battery Energy Storage Systems Market, By Ownership
6.1 Introduction
6.2 Third-Party Owned
6.3 Customer Owned
6.4 Utility Owned
7 Global Battery Energy Storage Systems Market, By Element
7.1 Introduction
7.2 Hardware
7.3 Battery
8 Global Battery Energy Storage Systems Market, By Connection Type
8.1 Introduction
8.2 Off-Grid Connection
8.3 On-Grid Connection
9 Global Battery Energy Storage Systems Market, By Application
9.1 Introduction
9.2 Utilities
9.3 Residential
9.4 Non-Residential
9.5 Commercial
9.6 Industrial
9.7 Automotive
10 Global Battery Energy Storage Systems Market, By Technology
10.1 Introduction
10.2 Frequency regulation
10.3 Load leveling
10.4 Peak shaving
10.5 Peak demand shifting
11 Global Battery Energy Storage Systems Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 ABB Group
13.2 AEG Power Solutions BV
13.3 Alevo Group SA
13.4 Corvus Energy
13.5 East Penn Manufacturing Co., Inc.
13.6 EnerDel, Inc.
13.7 Exergonix
13.8 GE Power
13.9 Hitachi Ltd.
13.10 LG Chem Ltd.
13.11 Mitsubishi Heavy Industries Ltd.
13.12 NEC Energy Solutions
13.13 NGK Insulators Ltd.
13.14 Panasonic Corporation
13.15 Samsung SDI Co., Ltd
13.16 Siemens AG
13.17 Tesla, Inc.
13.18 The AES Corporation
13.19 Toshiba Infrastructure Systems & Solutions
13.20 TrinaBESS
List of Tables
1 Global Battery Energy Storage Systems Market Outlook, By Region (2018-2027) ($MN)
2 Global Battery Energy Storage Systems Market Outlook, By Battery Type (2018-2027) ($MN)
3 Global Battery Energy Storage Systems Market Outlook, By Advanced Lead-Acid Batteries (2018-2027) ($MN)
4 Global Battery Energy Storage Systems Market Outlook, By Flow Batteries (2018-2027) ($MN)
5 Global Battery Energy Storage Systems Market Outlook, By Iron-chromium Flow Batteries (2018-2027) ($MN)
6 Global Battery Energy Storage Systems Market Outlook, By Hybrid Flow Batteries (2018-2027) ($MN)
7 Global Battery Energy Storage Systems Market Outlook, By Vanadium Redox Batteries (2018-2027) ($MN)
8 Global Battery Energy Storage Systems Market Outlook, By Redox Flow Batteries (2018-2027) ($MN)
9 Global Battery Energy Storage Systems Market Outlook, By Lithium-Ion Batteries (2018-2027) ($MN)
10 Global Battery Energy Storage Systems Market Outlook, By Lithium Manganese Oxide (2018-2027) ($MN)
11 Global Battery Energy Storage Systems Market Outlook, By Lithium Cobalt Oxide (2018-2027) ($MN)
12 Global Battery Energy Storage Systems Market Outlook, By Lithium Nickel Manganese Cobalt Oxide (NMC) (2018-2027) ($MN)
13 Global Battery Energy Storage Systems Market Outlook, By Lithium Nickel Cobalt Aluminum Oxide (2018-2027) ($MN)
14 Global Battery Energy Storage Systems Market Outlook, By Lithium Iron Phosphate (LFP) (2018-2027) ($MN)
15 Global Battery Energy Storage Systems Market Outlook, By Lithium Titanate (2018-2027) ($MN)
16 Global Battery Energy Storage Systems Market Outlook, By Sodium-ion Batteries (2018-2027) ($MN)
17 Global Battery Energy Storage Systems Market Outlook, By Sodium–Sulfur Batteries (2018-2027) ($MN)
18 Global Battery Energy Storage Systems Market Outlook, By Other Battery Types (2018-2027) ($MN)
19 Global Battery Energy Storage Systems Market Outlook, By Nickel Metal Hydride Battery (2018-2027) ($MN)
20 Global Battery Energy Storage Systems Market Outlook, By Nickel–Cadmium Battery (2018-2027) ($MN)
21 Global Battery Energy Storage Systems Market Outlook, By Nickel–Iron Battery (2018-2027) ($MN)
22 Global Battery Energy Storage Systems Market Outlook, By Ownership (2018-2027) ($MN)
23 Global Battery Energy Storage Systems Market Outlook, By Third-Party Owned (2018-2027) ($MN)
24 Global Battery Energy Storage Systems Market Outlook, By Customer Owned (2018-2027) ($MN)
25 Global Battery Energy Storage Systems Market Outlook, By Utility Owned (2018-2027) ($MN)
26 Global Battery Energy Storage Systems Market Outlook, By Element (2018-2027) ($MN)
27 Global Battery Energy Storage Systems Market Outlook, By Hardware (2018-2027) ($MN)
28 Global Battery Energy Storage Systems Market Outlook, By Battery (2018-2027) ($MN)
29 Global Battery Energy Storage Systems Market Outlook, By Connection Type (2018-2027) ($MN)
30 Global Battery Energy Storage Systems Market Outlook, By Off-Grid Connection (2018-2027) ($MN)
31 Global Battery Energy Storage Systems Market Outlook, By On-Grid Connection (2018-2027) ($MN)
32 Global Battery Energy Storage Systems Market Outlook, By Application (2018-2027) ($MN)
33 Global Battery Energy Storage Systems Market Outlook, By Utilities (2018-2027) ($MN)
34 Global Battery Energy Storage Systems Market Outlook, By Residential (2018-2027) ($MN)
35 Global Battery Energy Storage Systems Market Outlook, By Non-Residential (2018-2027) ($MN)
36 Global Battery Energy Storage Systems Market Outlook, By Commercial (2018-2027) ($MN)
37 Global Battery Energy Storage Systems Market Outlook, By Industrial (2018-2027) ($MN)
38 Global Battery Energy Storage Systems Market Outlook, By Automotive (2018-2027) ($MN)
39 Global Battery Energy Storage Systems Market Outlook, By Technology (2018-2027) ($MN)
40 Global Battery Energy Storage Systems Market Outlook, By Frequency regulation (2018-2027) ($MN)
41 Global Battery Energy Storage Systems Market Outlook, By Load leveling (2018-2027) ($MN)
42 Global Battery Energy Storage Systems Market Outlook, By Peak shaving (2018-2027) ($MN)
43 Global Battery Energy Storage Systems Market Outlook, By Peak demand shifting (2018-2027) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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