Global Battery Market for Energy Storage Systems Market 2023-2027

List of Tables

Global Battery Market for Energy Storage Systems (ESS) Market 2023-2027

Technavio has been monitoring the battery market for energy storage systems (ESS) market and is forecast to grow by $32,194.03 mn during 2022-2027, accelerating at a CAGR of 35.38% during the forecast period. Our report on the battery market for energy storage systems (ESS) market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by change in energy mix, increased need for backup power, and increasing economic benefits of ess.

Technavio's battery market for energy storage systems (ESS) market is segmented as below:

By Connectivity

On-grid
Off-grid

By Technology

Lithium-ion batteries
Flow batteries
Others

By Geography

APAC
North America
Europe
Middle East and Africa
South America

This study identifies the increased adoption of microgrids as one of the prime reasons driving the battery market for energy storage systems (ESS) market growth during the next few years. Also, declining costs of battery storage systems and requirement of continuous power supply in datacenters will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the battery market for energy storage systems (ESS) market covers the following areas:

Battery market for energy storage systems (ESS) market sizing
Battery market for energy storage systems (ESS) market forecast
Battery market for energy storage systems (ESS) market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading battery market for energy storage systems (ESS) market vendors that include ABB Ltd., AEG Power Solutions BV, Corvus Energy, East Penn Manufacturing Co. Inc., Exergonix Inc., General Electric Co., Hitachi Ltd., LG Corp., Mitsubishi Heavy Industries Ltd., Morimura Bros Inc., NEC Corp., PHL Group Inc., Siemens AG, SolarEdge Technologies Inc., TDK Corp., Tesla Inc., AES Corp., Toshiba Corp., Panasonic Holdings Corp., and Samsung Electronics Co. Ltd. Also, the battery market for energy storage systems (ESS) market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.

Product Code: IRTNTR72995

1 Executive Summary

1.1 Market overview
Exhibit 01: Executive Summary - Chart on Market Overview
Exhibit 02: Executive Summary - Data Table on Market Overview
Exhibit 03: Executive Summary - Chart on Global Market Characteristics
Exhibit 04: Executive Summary - Chart on Market by Geography
Exhibit 05: Executive Summary - Chart on Market Segmentation by Connectivity
Exhibit 06: Executive Summary - Chart on Market Segmentation by Technology
Exhibit 07: Executive Summary - Chart on Incremental Growth
Exhibit 08: Executive Summary - Data Table on Incremental Growth
Exhibit 09: Executive Summary - Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global battery market for energy storage systems (ESS) market 2017 - 2021
Exhibit 18: Historic Market Size - Data Table on Global battery market for energy storage systems (ESS) market 2017 - 2021 ($ million)
4.2 Connectivity Segment Analysis 2017 - 2021
Exhibit 19: Historic Market Size - Connectivity Segment 2017 - 2021 ($ million)
4.3 Technology Segment Analysis 2017 - 2021
Exhibit 20: Historic Market Size - Technology Segment 2017 - 2021 ($ million)
4.4 Geography Segment Analysis 2017 - 2021
Exhibit 21: Historic Market Size - Geography Segment 2017 - 2021 ($ million)
4.5 Country Segment Analysis 2017 - 2021
Exhibit 22: Historic Market Size - Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

5.1 Five forces summary
Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers - Impact of key factors 2022 and 2027
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers - Impact of key factors in 2022 and 2027
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants - Impact of key factors in 2022 and 2027
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes - Impact of key factors in 2022 and 2027
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry - Impact of key factors in 2022 and 2027
5.7 Market condition
Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Connectivity

6.1 Market segments
Exhibit 30: Chart on Connectivity - Market share 2022-2027 (%)
Exhibit 31: Data Table on Connectivity - Market share 2022-2027 (%)
6.2 Comparison by Connectivity
Exhibit 32: Chart on Comparison by Connectivity
Exhibit 33: Data Table on Comparison by Connectivity
6.3 On-grid - Market size and forecast 2022-2027
Exhibit 34: Chart on On-grid - Market size and forecast 2022-2027 ($ million)
Exhibit 35: Data Table on On-grid - Market size and forecast 2022-2027 ($ million)
Exhibit 36: Chart on On-grid - Year-over-year growth 2022-2027 (%)
Exhibit 37: Data Table on On-grid - Year-over-year growth 2022-2027 (%)
6.4 Off-grid - Market size and forecast 2022-2027
Exhibit 38: Chart on Off-grid - Market size and forecast 2022-2027 ($ million)
Exhibit 39: Data Table on Off-grid - Market size and forecast 2022-2027 ($ million)
Exhibit 40: Chart on Off-grid - Year-over-year growth 2022-2027 (%)
Exhibit 41: Data Table on Off-grid - Year-over-year growth 2022-2027 (%)
6.5 Market opportunity by Connectivity
Exhibit 42: Market opportunity by Connectivity ($ million)
Exhibit 43: Data Table on Market opportunity by Connectivity ($ million)

7 Market Segmentation by Technology

7.1 Market segments
Exhibit 44: Chart on Technology - Market share 2022-2027 (%)
Exhibit 45: Data Table on Technology - Market share 2022-2027 (%)
7.2 Comparison by Technology
Exhibit 46: Chart on Comparison by Technology
Exhibit 47: Data Table on Comparison by Technology
7.3 Lithium-ion batteries - Market size and forecast 2022-2027
Exhibit 48: Chart on Lithium-ion batteries - Market size and forecast 2022-2027 ($ million)
Exhibit 49: Data Table on Lithium-ion batteries - Market size and forecast 2022-2027 ($ million)
Exhibit 50: Chart on Lithium-ion batteries - Year-over-year growth 2022-2027 (%)
Exhibit 51: Data Table on Lithium-ion batteries - Year-over-year growth 2022-2027 (%)
7.4 Flow batteries - Market size and forecast 2022-2027
Exhibit 52: Chart on Flow batteries - Market size and forecast 2022-2027 ($ million)
Exhibit 53: Data Table on Flow batteries - Market size and forecast 2022-2027 ($ million)
Exhibit 54: Chart on Flow batteries - Year-over-year growth 2022-2027 (%)
Exhibit 55: Data Table on Flow batteries - Year-over-year growth 2022-2027 (%)
7.5 Others - Market size and forecast 2022-2027
Exhibit 56: Chart on Others - Market size and forecast 2022-2027 ($ million)
Exhibit 57: Data Table on Others - Market size and forecast 2022-2027 ($ million)
Exhibit 58: Chart on Others - Year-over-year growth 2022-2027 (%)
Exhibit 59: Data Table on Others - Year-over-year growth 2022-2027 (%)
7.6 Market opportunity by Technology
Exhibit 60: Market opportunity by Technology ($ million)
Exhibit 61: Data Table on Market opportunity by Technology ($ million)

8 Customer Landscape

8.1 Customer landscape overview
Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
Exhibit 63: Chart on Market share by geography 2022-2027 (%)
Exhibit 64: Data Table on Market share by geography 2022-2027 (%)
9.2 Geographic comparison
Exhibit 65: Chart on Geographic comparison
Exhibit 66: Data Table on Geographic comparison
9.3 APAC - Market size and forecast 2022-2027
Exhibit 67: Chart on APAC - Market size and forecast 2022-2027 ($ million)
Exhibit 68: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
Exhibit 69: Chart on APAC - Year-over-year growth 2022-2027 (%)
Exhibit 70: Data Table on APAC - Year-over-year growth 2022-2027 (%)
9.4 North America - Market size and forecast 2022-2027
Exhibit 71: Chart on North America - Market size and forecast 2022-2027 ($ million)
Exhibit 72: Data Table on North America - Market size and forecast 2022-2027 ($ million)
Exhibit 73: Chart on North America - Year-over-year growth 2022-2027 (%)
Exhibit 74: Data Table on North America - Year-over-year growth 2022-2027 (%)
9.5 Europe - Market size and forecast 2022-2027
Exhibit 75: Chart on Europe - Market size and forecast 2022-2027 ($ million)
Exhibit 76: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
Exhibit 77: Chart on Europe - Year-over-year growth 2022-2027 (%)
Exhibit 78: Data Table on Europe - Year-over-year growth 2022-2027 (%)
9.6 Middle East and Africa - Market size and forecast 2022-2027
Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
9.7 South America - Market size and forecast 2022-2027
Exhibit 83: Chart on South America - Market size and forecast 2022-2027 ($ million)
Exhibit 84: Data Table on South America - Market size and forecast 2022-2027 ($ million)
Exhibit 85: Chart on South America - Year-over-year growth 2022-2027 (%)
Exhibit 86: Data Table on South America - Year-over-year growth 2022-2027 (%)
9.8 China - Market size and forecast 2022-2027
Exhibit 87: Chart on China - Market size and forecast 2022-2027 ($ million)
Exhibit 88: Data Table on China - Market size and forecast 2022-2027 ($ million)
Exhibit 89: Chart on China - Year-over-year growth 2022-2027 (%)
Exhibit 90: Data Table on China - Year-over-year growth 2022-2027 (%)
9.9 US - Market size and forecast 2022-2027
Exhibit 91: Chart on US - Market size and forecast 2022-2027 ($ million)
Exhibit 92: Data Table on US - Market size and forecast 2022-2027 ($ million)
Exhibit 93: Chart on US - Year-over-year growth 2022-2027 (%)
Exhibit 94: Data Table on US - Year-over-year growth 2022-2027 (%)
9.10 Australia - Market size and forecast 2022-2027
Exhibit 95: Chart on Australia - Market size and forecast 2022-2027 ($ million)
Exhibit 96: Data Table on Australia - Market size and forecast 2022-2027 ($ million)
Exhibit 97: Chart on Australia - Year-over-year growth 2022-2027 (%)
Exhibit 98: Data Table on Australia - Year-over-year growth 2022-2027 (%)
9.11 UK - Market size and forecast 2022-2027
Exhibit 99: Chart on UK - Market size and forecast 2022-2027 ($ million)
Exhibit 100: Data Table on UK - Market size and forecast 2022-2027 ($ million)
Exhibit 101: Chart on UK - Year-over-year growth 2022-2027 (%)
Exhibit 102: Data Table on UK - Year-over-year growth 2022-2027 (%)
9.12 Germany - Market size and forecast 2022-2027
Exhibit 103: Chart on Germany - Market size and forecast 2022-2027 ($ million)
Exhibit 104: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
Exhibit 105: Chart on Germany - Year-over-year growth 2022-2027 (%)
Exhibit 106: Data Table on Germany - Year-over-year growth 2022-2027 (%)
9.13 Market opportunity by geography
Exhibit 107: Market opportunity by geography ($ million)
Exhibit 108: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 109: Impact of drivers and challenges in 2022 and 2027
10.4 Market trends

11 Vendor Landscape

11.1 Overview
11.2 Vendor landscape
Exhibit 110: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 111: Overview on factors of disruption
11.4 Industry risks
Exhibit 112: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
Exhibit 113: Vendors covered
12.2 Market positioning of vendors
Exhibit 114: Matrix on vendor position and classification
12.3 ABB Ltd.
Exhibit 115: ABB Ltd. - Overview
Exhibit 116: ABB Ltd. - Business segments
Exhibit 117: ABB Ltd. - Key offerings
Exhibit 118: ABB Ltd. - Segment focus
12.4 AEG Power Solutions BV
Exhibit 119: AEG Power Solutions BV - Overview
Exhibit 120: AEG Power Solutions BV - Product / Service
Exhibit 121: AEG Power Solutions BV - Key offerings
12.5 AES Corp.
Exhibit 122: AES Corp. - Overview
Exhibit 123: AES Corp. - Key offerings
12.6 Corvus Energy
Exhibit 124: Corvus Energy - Overview
Exhibit 125: Corvus Energy - Product / Service
Exhibit 126: Corvus Energy - Key offerings
12.7 East Penn Manufacturing Co. Inc.
Exhibit 127: East Penn Manufacturing Co. Inc. - Overview
Exhibit 128: East Penn Manufacturing Co. Inc. - Product / Service
Exhibit 129: East Penn Manufacturing Co. Inc. - Key news
Exhibit 130: East Penn Manufacturing Co. Inc. - Key offerings
12.8 Exergonix Inc.
Exhibit 131: Exergonix Inc. - Overview
Exhibit 132: Exergonix Inc. - Product / Service
Exhibit 133: Exergonix Inc. - Key offerings
12.9 General Electric Co.
Exhibit 134: General Electric Co. - Overview
Exhibit 135: General Electric Co. - Business segments
Exhibit 136: General Electric Co. - Key news
Exhibit 137: General Electric Co. - Key offerings
Exhibit 138: General Electric Co. - Segment focus
12.10 Hitachi Ltd.
Exhibit 139: Hitachi Ltd. - Overview
Exhibit 140: Hitachi Ltd. - Business segments
Exhibit 141: Hitachi Ltd. - Key news
Exhibit 142: Hitachi Ltd. - Key offerings
Exhibit 143: Hitachi Ltd. - Segment focus
12.11 LG Corp.
Exhibit 144: LG Corp. - Overview
Exhibit 145: LG Corp. - Business segments
Exhibit 146: LG Corp. - Key offerings
Exhibit 147: LG Corp. - Segment focus
12.12 NEC Corp.
Exhibit 148: NEC Corp. - Overview
Exhibit 149: NEC Corp. - Business segments
Exhibit 150: NEC Corp. - Key news
Exhibit 151: NEC Corp. - Key offerings
Exhibit 152: NEC Corp. - Segment focus
12.13 Panasonic Holdings Corp.
Exhibit 153: Panasonic Holdings Corp. - Overview
Exhibit 154: Panasonic Holdings Corp. - Business segments
Exhibit 155: Panasonic Holdings Corp. - Key news
Exhibit 156: Panasonic Holdings Corp. - Key offerings
Exhibit 157: Panasonic Holdings Corp. - Segment focus
12.14 Samsung Electronics Co. Ltd.
Exhibit 158: Samsung Electronics Co. Ltd. - Overview
Exhibit 159: Samsung Electronics Co. Ltd. - Business segments
Exhibit 160: Samsung Electronics Co. Ltd. - Key news
Exhibit 161: Samsung Electronics Co. Ltd. - Key offerings
Exhibit 162: Samsung Electronics Co. Ltd. - Segment focus
12.15 Siemens AG
Exhibit 163: Siemens AG - Overview
Exhibit 164: Siemens AG - Business segments
Exhibit 165: Siemens AG - Key news
Exhibit 166: Siemens AG - Key offerings
Exhibit 167: Siemens AG - Segment focus
12.16 SolarEdge Technologies Inc.
Exhibit 168: SolarEdge Technologies Inc. - Overview
Exhibit 169: SolarEdge Technologies Inc. - Business segments
Exhibit 170: SolarEdge Technologies Inc. - Key news
Exhibit 171: SolarEdge Technologies Inc. - Key offerings
Exhibit 172: SolarEdge Technologies Inc. - Segment focus
12.17 Tesla Inc.
Exhibit 173: Tesla Inc. - Overview
Exhibit 174: Tesla Inc. - Business segments
Exhibit 175: Tesla Inc. - Key news
Exhibit 176: Tesla Inc. - Key offerings
Exhibit 177: Tesla Inc. - Segment focus

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 178: Inclusions checklist
Exhibit 179: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 180: Currency conversion rates for US$
13.4 Research methodology
Exhibit 181: Research methodology
Exhibit 182: Validation techniques employed for market sizing
Exhibit 183: Information sources
13.5 List of abbreviations
Exhibit 184: List of abbreviations