Global Non-battery Energy Storage (NBES) Growth Opportunities

Net-zero Goals to Drive Future Growth Potential

Renewable power generation has been central to decarbonization initiatives by governments and the commercial and industrial (C&I) sector. Energy storage solutions address the challenges posed by renewable power sources, including intermittency, thereby accelerating the deployment of renewables, which have rightfully gained substantial investments in recent years. Pumped hydro storage, which has dominated long-duration energy storage for more than a century, is now being challenged by other new and promising low-cost, high-efficiency technologies, each with unique benefits for end users.

Forecasts are based on energy storage targets that governments aim to achieve by 2030 to meet their climate change targets; announced projects (where available); and Frost & Sullivan's assessment of the growth potential of energy technologies.

With potential investments in non-battery storage expected to exceed hundreds of billions of dollars over the next few years across all technologies, several opportunities exist across the value chain, including logistics, operations and maintenance (O&M), financing, and technology related to non-battery storage.

The study profiles countries committed to decarbonization and those investing in technology R&D and commercialization. It also highlights companies that have contributed innovative solutions in this space.

Key regions for investment for energy storage technologies have been identified based on investments and interest in a particular technology, either due to its suitability to the geography (or the project) or commercial advancements in the technology.

Research Highlights:

This Frost & Sullivan study highlights the advantages of non-battery technologies over short-duration battery energy storage solutions. It also analyzes the growth opportunities and market potential for well-established industry participants and new entrants.

Key Issues Addressed:

• What is the current status of the global non-battery energy storage market?

• What are the key drivers and restraints affecting market growth? What are the competitive factors in this market?

• Is the market growing; how long will it continue to grow, and at what rate will it grow?

• Which are the key growth regions for non-battery energy storage that market participants can consider for expansion? Which countries are suitable for investments in these regions?

• Who are the key market participants, and what are their innovative business models or solutions?

• How is revenue expected to change over the course of the next few years?

• What avenues are available for strategic investments in the market, and how best can key stakeholders benefit from them?