Energy Storage market is a nascent but fast-growing sector. Energy Storage System (ESS) devices are used widely for storing energy intended for later usage. The demand for these devices in the power sector is increasing rapidly, particularly after the increase in the renewable energy integration to grids. Intermittent power demand has generated demand for the storage of electrical energy and supply during peak loads. ESS devices can help make renewable energy, whose power output cannot be controlled by grid operators, smooth and dispatchable.
A Battery Energy Storage System (BESS) is regarded as an important solution for overcoming the intermittency limitations of renewable energy sources (RES). The key BESS technologies include lithium-ion (Li-ion), sodium-sulfur (NaS), lead-acid, and flow batteries. The BESS market has shifted toward Li-ion and away from NaS technology mostly deployed by NGK Insulators, an industrial equipment company.
The global grid-connected battery energy storage systems (BESS) market witnessed a market volume of 3.8 gigawatts (GW) for projects installed up to 2017 which is expected to reach 23.4 GW by 2022. The top five countries in the global market were the US, South Korea, China, Japan, and Australia for projects commissioned up to 2017, with the US having a 28% market share and leading the global BESS market.
The top five countries represented over 80% of the global market in terms of cumulative installed capacity in 2017. In the year 2017, the Asia-Pacific region led the global market by holding a 54.1% market share, followed by the Americas with 32.8%, and Europe, Middle East, and Africa (EMEA) with 13.1%. With respect to technology, lithium-ion has been the preferred technology to date and shared approximately over 75% of the global market with respect to BESS installations up to 2017. It is expected that lithium-ion will be the key technology throughout the study period.
The report "Grid-Connected Battery Energy Storage System, Update 2018 - Global Market Size, Competitive Landscape, Key Country Analysis, and Forecast to 2022", offers comprehensive information and understanding of the global battery energy storage system market. Key inclusions of the report are -
- Snapshot of the BESS market.
- Overview of Energy Storage, BESS, and their classifications.
- Market Overview, Drivers and Restraints.
- Market Value, Volume, Market Share by Technology and Application, Competitive Landscape, and Recent Deals.
- Country-level analysis of market. The report covers 11 countries: US, Chile, Germany, Italy, UK, France, China, India, Japan, South Korea, and Australia.
Companies mentioned in this report: NGK Insulators Ltd., BYD, NEC, Samsung SDI, LG, Xtreme Power, Saft, AES Energy Storage, Alevo, Delco, Altair Nanotechnologies Inc., EnerDel, GNB Corporation, Ecoult, Powertree Services Inc., Kokam, Tesla, EnerSys, Exide, Younicos, Stem, EaglePicher Technologies, Solar Grid Storage, Hitachi, Vionx Energy (formerly Premium Power), Lithium Energy Japan (GS Yuasa International Ltd. and Mitsubishi), UniEnergy Technologies, Green Charge Networks, GE Energy Storage, Primus Power, Greensmith, Prudent Energy Corporation, Aquion Energy, CODA Energy, EV Grid, Mitsubishi, Convergent Energy + Power, Axion Power International Inc., C&D Technologies, East Penn Manufacturing (Deka Unigy II), ZBB Energy Corporation, Princeton Power Systems, Elecyr Corporation, DynaPower, S&C Electric, Sunverge, BMW, GS-Yuasa, GNB Marathon, Ojai / K2, Urban Electric Power, International Battery, Iron Edison Battery Company, ViZn Energy Systems, FIAMM Energy Storage Solutions, Silent Power Inc., JLM Energy, SimpliPhi Power, TimberRock Energy Solutions Inc., Nissan, JuiceBox Energy, Inc., ESS Inc., Clean Energy Storage Inc., Johnson Controls, Inc. (JCI), Toshiba, Kokam, Woojin Industrial Systems, Incell, LG CNS, Sumitomo Electric Industries, Shin-Kobe Electric Machinery Co., Wanxiang Group, Rongke Power, Hitachi, Amperex Technology Limited (ATL), Dongguan New Energy, Ecoult, China Aviation Lithium Battery Co., Ltd. (CALB), A123 (NEC Energy Solutions), Panasonic, Energy Made Clean (EMC), Qinous GmbH, Dong Fang Electric Machinery, Gildemeister, Furukawa Battery, Sacred Sun, Imergy Power Systems, Magellan Power, HID Australia, BAE Batterien, Photon Energy, Leclanche, Sony, Valence Technology, ZBB Energy Corporation, Cegasa International, Evonik, Sanyo, Alfen, UniEnergy Technologies, Vanadis Power, VARTA Storage GmbH, Hitachi Chemical, HOPPECKE Batterien GmbH & Co KG, Germany, Rolls Battery LTD, ABB, Pfenning Elektroanlagen GmbH, Bosch, U.S. Battery, Green NRG, Ecoult, REDT, Christophe HUBERT
The report analyses battery energy storage system market. Its scope includes -
- Analysis of the growth of battery energy storage system market with a focus on market value in global and regional level including Asia-Pacific, Americas, Europe, and Middle East and Africa.
- The report provides battery energy storage system market analysis for key countries including the US, Chile, China, India, Japan, Australia, South Korea, Germany, Italy, UK, France.
- The report offers global, regional, and country level battery energy storage system market value (2013-2017; 2018-2022) and volume (up to 2012, up to 2017, and up to 2022). Market share by technology and by application is also discussed in the report for installations up to 2017.
- Qualitative analysis of key market drivers and restraints, and analysis of their impacts on battery energy storage system market are discussed.
- The report provides competitive landscape at country level for the year 2017. It also covers key policies and initiatives, key deals, and key projects.
Reasons To Buy
The report will enhance your decision making capability in a more rapid and time sensitive manner. It will allow you to -
- Facilitate decision-making by analyzing market data on battery energy storage systems
- Develop strategies based on developments in the battery energy storage system market
- Identify key partners and business-development avenues, based on an understanding of the movements of the major competitors in the battery energy storage system market
- Respond to your competitors’ business structure, strategies, and prospects