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Market Research Report
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1091917

Energy Storage Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Published: | IMARC Services Private Limited | 143 Pages | Delivery time: 2-3 business days

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Energy Storage Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
Published: June 13, 2022
IMARC Services Private Limited
Content info: 143 Pages
Delivery time: 2-3 business days
  • Description
  • Table of Contents
  • List of Tables

The global energy storage systems market reached a volume of 196.14 GW in 2021. Looking forward, IMARC Group expects the market to reach a volume of 344.46 GW by 2027, exhibiting a CAGR of 9.20% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

An energy storage system (ESS) is designed to store energy, such as radiation, chemical, gravitational, potential, electrical, latent heat, and kinetic, which can be used later to carry out useful operations. It offers various technological solutions for regulating power supply, building more resilient energy infrastructure, and saving costs for utilities and customers. In addition, it improves the efficiency and capacities of the electric grid while minimizing greenhouse gas (GHG) emissions. As a result, it finds extensive applications in the residential, commercial, utilities, and transportation sectors across the globe.

Energy Storage Systems Market Trends:

At present, there is a rise in the utilization of clean and renewable energy around the world to reduce global warming, air pollution, and considerable reliance on fossil fuels. This, along with the growing requirements of efficient grid management, constant load management, and continuous power supply among various organizations, represents one of the key factors driving the market. Moreover, governments of several countries are extensively investing in renewable energy technologies (RET). This, coupled with increasing government incentives to promote the adoption of electric vehicles (EVs) across the globe, is propelling the growth of the market. Additionally, the growing employment of lithium-ion batteries due to their high efficiency, better temperature performance, and low self-discharge over time is positively influencing the market. Besides this, the rising installation of thermal energy storage (TES) systems in buildings as advanced energy storage systems is offering lucrative growth opportunities to end-users and industry investors. Apart from this, the increasing electrification, in confluence with the growing number of transmission and distribution stations worldwide, is projected to catalyze the demand for energy storage systems globally in the coming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global energy storage systems market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on technology, application and end user.

Breakup by Technology:

  • Pumped Hydro
  • Electrochemical Storage
  • Electromechanical Storage
  • Thermal Storage

Breakup by Application:

  • Stationary
  • Transportation

Breakup by End User:

  • Residential
  • Non-Residential
  • Utilities

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Altair Nanotechnologies Inc., Eguana Technologies, Electrovaya Inc., Exide Industries Limited, Furukawa Electric Co. Ltd., General Electric Company, Kokam Ltd., LG Chem Ltd., Saft (TotalEnergies SE), Samsung SDI Co. Ltd., Schneider Electric SE, Showa Denko K. K. and Tata Power Company Limited.

Key Questions Answered in This Report:

  • How has the global energy storage systems market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global energy storage systems market?
  • What are the key regional markets?
  • What is the breakup of the market based on the technology?
  • What is the breakup of the market based on the application?
  • What is the breakup of the market based on the end user?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global energy storage systems market and who are the key players?
  • What is the degree of competition in the industry?
Product Code: SR0622A43_Report

Table of Contents

1 Preface

2 Scope and Methodology

  • 2.1 Objectives of the Study
  • 2.2 Stakeholders
  • 2.3 Data Sources
    • 2.3.1 Primary Sources
    • 2.3.2 Secondary Sources
  • 2.4 Market Estimation
    • 2.4.1 Bottom-Up Approach
    • 2.4.2 Top-Down Approach
  • 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

  • 4.1 Overview
  • 4.2 Key Industry Trends

5 Global Energy Storage Systems Market

  • 5.1 Market Overview
  • 5.2 Market Performance
  • 5.3 Impact of COVID-19
  • 5.4 Market Forecast

6 Market Breakup by Technology

  • 6.1 Pumped Hydro
    • 6.1.1 Market Trends
    • 6.1.2 Market Forecast
  • 6.2 Electrochemical Storage
    • 6.2.1 Market Trends
    • 6.2.2 Market Forecast
  • 6.3 Electromechanical Storage
    • 6.3.1 Market Trends
    • 6.3.2 Market Forecast
  • 6.4 Thermal Storage
    • 6.4.1 Market Trends
    • 6.4.2 Market Forecast

7 Market Breakup by Application

  • 7.1 Stationary
    • 7.1.1 Market Trends
    • 7.1.2 Market Forecast
  • 7.2 Transportation
    • 7.2.1 Market Trends
    • 7.2.2 Market Forecast

8 Market Breakup by End User

  • 8.1 Residential
    • 8.1.1 Market Trends
    • 8.1.2 Market Forecast
  • 8.2 Non-Residential
    • 8.2.1 Market Trends
    • 8.2.2 Market Forecast
  • 8.3 Utilities
    • 8.3.1 Market Trends
    • 8.3.2 Market Forecast

9 Market Breakup by Region

  • 9.1 North America
    • 9.1.1 United States
      • 9.1.1.1 Market Trends
      • 9.1.1.2 Market Forecast
    • 9.1.2 Canada
      • 9.1.2.1 Market Trends
      • 9.1.2.2 Market Forecast
  • 9.2 Asia-Pacific
    • 9.2.1 China
      • 9.2.1.1 Market Trends
      • 9.2.1.2 Market Forecast
    • 9.2.2 Japan
      • 9.2.2.1 Market Trends
      • 9.2.2.2 Market Forecast
    • 9.2.3 India
      • 9.2.3.1 Market Trends
      • 9.2.3.2 Market Forecast
    • 9.2.4 South Korea
      • 9.2.4.1 Market Trends
      • 9.2.4.2 Market Forecast
    • 9.2.5 Australia
      • 9.2.5.1 Market Trends
      • 9.2.5.2 Market Forecast
    • 9.2.6 Indonesia
      • 9.2.6.1 Market Trends
      • 9.2.6.2 Market Forecast
    • 9.2.7 Others
      • 9.2.7.1 Market Trends
      • 9.2.7.2 Market Forecast
  • 9.3 Europe
    • 9.3.1 Germany
      • 9.3.1.1 Market Trends
      • 9.3.1.2 Market Forecast
    • 9.3.2 France
      • 9.3.2.1 Market Trends
      • 9.3.2.2 Market Forecast
    • 9.3.3 United Kingdom
      • 9.3.3.1 Market Trends
      • 9.3.3.2 Market Forecast
    • 9.3.4 Italy
      • 9.3.4.1 Market Trends
      • 9.3.4.2 Market Forecast
    • 9.3.5 Spain
      • 9.3.5.1 Market Trends
      • 9.3.5.2 Market Forecast
    • 9.3.6 Russia
      • 9.3.6.1 Market Trends
      • 9.3.6.2 Market Forecast
    • 9.3.7 Others
      • 9.3.7.1 Market Trends
      • 9.3.7.2 Market Forecast
  • 9.4 Latin America
    • 9.4.1 Brazil
      • 9.4.1.1 Market Trends
      • 9.4.1.2 Market Forecast
    • 9.4.2 Mexico
      • 9.4.2.1 Market Trends
      • 9.4.2.2 Market Forecast
    • 9.4.3 Others
      • 9.4.3.1 Market Trends
      • 9.4.3.2 Market Forecast
  • 9.5 Middle East and Africa
    • 9.5.1 Market Trends
    • 9.5.2 Market Breakup by Country
    • 9.5.3 Market Forecast

10 SWOT Analysis

  • 10.1 Overview
  • 10.2 Strengths
  • 10.3 Weaknesses
  • 10.4 Opportunities
  • 10.5 Threats

11 Value Chain Analysis

12 Porters Five Forces Analysis

  • 12.1 Overview
  • 12.2 Bargaining Power of Buyers
  • 12.3 Bargaining Power of Suppliers
  • 12.4 Degree of Competition
  • 12.5 Threat of New Entrants
  • 12.6 Threat of Substitutes

13 Price Analysis

14 Competitive Landscape

  • 14.1 Market Structure
  • 14.2 Key Players
  • 14.3 Profiles of Key Players
    • 14.3.1 Altair Nanotechnologies Inc.
      • 14.3.1.1 Company Overview
      • 14.3.1.2 Product Portfolio
    • 14.3.2 Eguana Technologies
      • 14.3.2.1 Company Overview
      • 14.3.2.2 Product Portfolio
      • 14.3.2.3 Financials
      • 14.3.2.4 SWOT Analysis
    • 14.3.3 Electrovaya Inc.
      • 14.3.3.1 Company Overview
      • 14.3.3.2 Product Portfolio
      • 14.3.3.3 Financials
      • 14.3.3.4 SWOT Analysis
    • 14.3.4 Exide Industries Limited
      • 14.3.4.1 Company Overview
      • 14.3.4.2 Product Portfolio
      • 14.3.4.3 Financials
    • 14.3.5 Furukawa Electric Co. Ltd.
      • 14.3.5.1 Company Overview
      • 14.3.5.2 Product Portfolio
      • 14.3.5.3 Financials
      • 14.3.5.4 SWOT Analysis
    • 14.3.6 General Electric Company
      • 14.3.6.1 Company Overview
      • 14.3.6.2 Product Portfolio
      • 14.3.6.3 Financials
      • 14.3.6.4 SWOT Analysis
    • 14.3.7 Kokam Ltd.
      • 14.3.7.1 Company Overview
      • 14.3.7.2 Product Portfolio
    • 14.3.8 LG Chem Ltd.
      • 14.3.8.1 Company Overview
      • 14.3.8.2 Product Portfolio
      • 14.3.8.3 Financials
      • 14.3.8.4 SWOT Analysis
    • 14.3.9 Saft (TotalEnergies SE)
      • 14.3.9.1 Company Overview
      • 14.3.9.2 Product Portfolio
    • 14.3.10 Samsung SDI Co. Ltd.
      • 14.3.10.1 Company Overview
      • 14.3.10.2 Product Portfolio
      • 14.3.10.3 Financials
      • 14.3.10.4 SWOT Analysis
    • 14.3.11 Schneider Electric SE
      • 14.3.11.1 Company Overview
      • 14.3.11.2 Product Portfolio
      • 14.3.11.3 Financials
      • 14.3.11.4 SWOT Analysis
    • 14.3.12 Showa Denko K. K.
      • 14.3.12.1 Company Overview
      • 14.3.12.2 Product Portfolio
      • 14.3.12.3 Financials
      • 14.3.12.4 SWOT Analysis
    • 14.3.13 Tata Power Company Limited
      • 14.3.13.1 Company Overview
      • 14.3.13.2 Product Portfolio
      • 14.3.13.3 Financials
      • 14.3.13.4 SWOT Analysis

List of Figures

  • Figure 1: Global: Energy Storage Systems Market: Major Drivers and Challenges
  • Figure 2: Global: Energy Storage Systems Market: Volume Trends (in GW), 2016-2021
  • Figure 3: Global: Energy Storage Systems Market Forecast: Volume Trends (in GW), 2022-2027
  • Figure 4: Global: Energy Storage Systems Market: Value Trends (in Billion US$), 2016-2021
  • Figure 5: Global: Energy Storage Systems Market Forecast: Value Trends (in Billion US$), 2022-2027
  • Figure 6: Global: Energy Storage Systems Market: Breakup by Technology (in %), 2021
  • Figure 7: Global: Energy Storage Systems Market: Breakup by Application (in %), 2021
  • Figure 8: Global: Energy Storage Systems Market: Breakup by End User (in %), 2021
  • Figure 9: Global: Energy Storage Systems Market: Breakup by Region (in %), 2021
  • Figure 10: Global: Energy Storage Systems (Pumped Hydro) Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 11: Global: Energy Storage Systems (Pumped Hydro) Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 12: Global: Energy Storage Systems (Electrochemical Storage) Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 13: Global: Energy Storage Systems (Electrochemical Storage) Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 14: Global: Energy Storage Systems (Electromechanical Storage) Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 15: Global: Energy Storage Systems (Electromechanical Storage) Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 16: Global: Energy Storage Systems (Thermal Storage) Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 17: Global: Energy Storage Systems (Thermal Storage) Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 18: Global: Energy Storage Systems (Stationary) Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 19: Global: Energy Storage Systems (Stationary) Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 20: Global: Energy Storage Systems (Transportation) Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 21: Global: Energy Storage Systems (Transportation) Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 22: Global: Energy Storage Systems (Residential) Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 23: Global: Energy Storage Systems (Residential) Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 24: Global: Energy Storage Systems (Non-Residential) Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 25: Global: Energy Storage Systems (Non-Residential) Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 26: Global: Energy Storage Systems (Utilities) Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 27: Global: Energy Storage Systems (Utilities) Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 28: North America: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 29: North America: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 30: United States: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 31: United States: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 32: Canada: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 33: Canada: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 34: Asia-Pacific: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 35: Asia-Pacific: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 36: China: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 37: China: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 38: Japan: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 39: Japan: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 40: India: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 41: India: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 42: South Korea: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 43: South Korea: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 44: Australia: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 45: Australia: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 46: Indonesia: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 47: Indonesia: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 48: Others: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 49: Others: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 50: Europe: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 51: Europe: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 52: Germany: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 53: Germany: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 54: France: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 55: France: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 56: United Kingdom: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 57: United Kingdom: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 58: Italy: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 59: Italy: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 60: Spain: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 61: Spain: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 62: Russia: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 63: Russia: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 64: Others: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 65: Others: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 66: Latin America: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 67: Latin America: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 68: Brazil: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 69: Brazil: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 70: Mexico: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 71: Mexico: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 72: Others: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 73: Others: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 74: Middle East and Africa: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
  • Figure 75: Middle East and Africa: Energy Storage Systems Market: Breakup by Country (in %), 2021
  • Figure 76: Middle East and Africa: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
  • Figure 77: Global: Energy Storage Systems Industry: SWOT Analysis
  • Figure 78: Global: Energy Storage Systems Industry: Value Chain Analysis
  • Figure 79: Global: Energy Storage Systems Industry: Porter's Five Forces Analysis

List of Tables

  • Table 1: Global: Energy Storage Systems Market: Key Industry Highlights, 2021 and 2027
  • Table 2: Global: Energy Storage Systems Market Forecast: Breakup by Technology (in Million US$), 2022-2027
  • Table 3: Global: Energy Storage Systems Market Forecast: Breakup by Application (in Million US$), 2022-2027
  • Table 4: Global: Energy Storage Systems Market Forecast: Breakup by End User (in Million US$), 2022-2027
  • Table 5: Global: Energy Storage Systems Market Forecast: Breakup by Region (in Million US$), 2022-2027
  • Table 6: Global: Energy Storage Systems Market: Competitive Structure
  • Table 7: Global: Energy Storage Systems Market: Key Players