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Battery Energy Storage Systems Market

Battery Energy Storage Systems - Global Market Outlook (2019-2027)

4.9 (69 reviews)
Published: June 2020 ID: SMRC19278
4.9 (69 reviews)
Published: June 2020 ID: SMRC19278

This report covers the impact of COVID-19 on this global market

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

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.     

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