Global Energy Storage System Market Research Report by Application, by Technology, by End-User, and by Region Industry Forecast till 2030

Description

List of Tables

Global Energy Storage System Market Research Report by Application (Stationary, Transportation), by Technology (Pumped Hydro Storage, Battery Energy Storage, Compressed Air Energy Storage, Flywheel Energy Storage), by End-User (Residential, Non-Residential, Utilities), and by Region (North America, Europe, Asia Pacific, South America, Middle East & Africa) Industry Forecast till 2030

Market Analysis

The global energy storage system market reached USD 20,138.3 million in 2021and is expected to achieve USD 1,53,663.4 million with a CAGR of 25.46% by the end of 2030. An ESS or energy storage system is a technological process of holding energy to use later. This process ensured a pivotal role by balancing energy supply with its needs and ensuring grid stability.

The primary drivers of the global energy storage systems market are the increasing demand for grid energy storage systems, technological advancements, and the rapid scale-up of energy storage, which is necessary to satisfy the need for flexibility in energy storage systems.

A key restraint in the global energy storage system market is the expensive setup cost for battery storage, which slows down adoption. On the positive side, many governments are offering help through funding and policy support. Also, as more remote areas seek electricity access, the need for storage systems is growing, giving the market new chances to expand.

Market Segmentation Insights

The global energy storage system market is divided based on technology. Including pumped hydro storage, battery energy storage, compressed air energy storage, and flywheel energy storage.

In terms of application, the global energy storage system market is segmented into stationary and transportation.

Based on the end-user, the global market is classified into residential and non-residential, and utilities.

Regional Perspectives

In North America, energy storage systems are becoming more popular as the region works on improving its electricity networks in the global energy storage system industry. Government support and better technologies are helping this growth.

In the global energy storage system industry, Europe is moving forward, mainly because of strong environmental rules and the need for clean energy. Many countries are using storage systems to balance renewable energy sources like wind and solar.

Growing industrial activity, increased energy demands, and extensive renewable energy projects have made the Asia Pacific the dominating region. The availability of local resources and government backing is increasing the usage of energy storage in a variety of industries.

South America is focusing on enhancing access to electricity and incorporating renewable energy sources into its system. It can expand the usage of energy storage. Storage is being investigated more in the area as a potential energy stability solution.

To expand energy demands and interest in solar energy, the Middle East and Africa regional market is implementing energy storage technologies. Particularly in rural and underdeveloped areas, these regions are investigating novel technologies to support power availability.

Major Competitors

Key players in the global energy storage system market are EOS Energy Enterprises Inc., ABB Ltd, BYD Company Ltd., Evapco, Inc., UCAP Power, General Electric, Hitachi Ltd., Schneider Electric SE, Siemens AG, and Panasonic Corporation.

Product Code: MRFR/E&P/17301-CR

1 EXECUTIVE SUMMARY

1.1 MARKET ATTRACTIVENESS ANALYSIS
- 1.1.1 ENERGY STORAGE SYSTEM MARKET, BY TECHNOLOGY
- 1.1.2 ENERGY STORAGE SYSTEM MARKET ANALYSIS BY APPLICATION
- 1.1.3 ENERGY STORAGE SYSTEM MARKET, BY END-USER
- 1.1.4 ENERGY STORAGE SYSTEM MARKET, BY REGION

2 MARKET INTRODUCTION

2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 MARKET STRUCTURE

3 RESEARCH METHODOLOGY

3.1 RESEARCH PROCESS
3.2 PRIMARY RESEARCH
3.3 SECONDARY RESEARCH
3.4 MARKET SIZE ESTIMATION
3.5 TOP-DOWN AND BOTTOM-UP APPROACH
3.6 FORECAST MODEL
3.7 LIST OF ASSUMPTIONS & LIMITATIONS

4 MARKET DYNAMICS

4.1 INTRODUCTION
4.2 DRIVERS
- 4.2.1 INCREASING DEMAND FOR GRID ENERGY STORAGE SYSTEMS OWING TO ONGOING GRID MODERNIZATION
- 4.2.2 THE TECHNOLOGICAL ADVANCEMENTS IN THE ENERGY STORAGE SYSTEMS
- 4.2.3 THE RAPID SCALE-UP OF ENERGY STORAGE IS CRITICAL TO MEET FLEXIBILITY NEEDS IN A DECARBONIZED ELECTRICITY SYSTEM
4.3 RESTRAINTS
- 4.3.1 HIGH CAPITAL EXPENDITURE REQUIRED FOR INSTALLING BATTERY ENERGY STORAGE SYSTEMS
4.4 OPPORTUNITIES
- 4.4.1 VARIOUS GOVERNMENTS SUPPORTING STORAGE DEPLOYMENT THROUGH TARGETS, SUBSIDIES, REGULATORY REFORMS AND R&D SUPPORT
- 4.4.2 SURGE IN NUMBER OF RURAL ELECTRIFICATION PROJECTS WORLDWIDE
4.5 IMPACT ANALYSIS OF COVID 19 ON ENERGY STORAGE SYSTEM MARKET

5 MARKET FACTOR ANALYSIS

5.1 SUPPLY CHAIN ANALYSIS
- 5.1.1 RESEARCH & DEVELOPMENT
- 5.1.2 RAW MATERIAL & COMPONENT SUPPLY
- 5.1.3 MANUFACTURING & ASSEMBLY
- 5.1.4 SALES & DISTRIBUTION
- 5.1.5 END USERS & AFTERSALES
5.2 PORTER'S FIVE FORCES MODEL
- 5.2.1 THREAT OF NEW ENTRANTS
- 5.2.2 BARGAINING POWER OF SUPPLIERS
- 5.2.3 THREAT OF SUBSTITUTES
- 5.2.4 BARGAINING POWER OF BUYERS
- 5.2.5 INTENSITY OF RIVALRY

6 GLOBAL ENERGY STORAGE SYSTEM MARKET, BY TECHNOLOGY

6.1 GLOBAL ENERGY STORAGE SYSTEM MARKETSIZE, MARKET ESTIMATES & FORECAST BY TECHNOLOGY, 2019-2030
- 6.1.1 GLOBAL ENERGY STORAGE SYSTEM MARKETSIZE: MARKET ESTIMATES & FORECAST BY TECHNOLOGY, 2019-2030
6.2 GLOBAL ENERGY STORAGE SYSTEM MARKET SIZE, MARKET ESTIMATES & FORECAST BY TECHNOLOGY, 2019-2030
- 6.2.1 GLOBAL ENERGY STORAGE SYSTEM MARKETSIZE: MARKET ESTIMATES & FORECAST BY TECHNOLOGY, 2019-2030

7 GLOBAL ENERGY STORAGE SYSTEM MARKET, BY APPLICATION

7.1 GLOBAL ENERGY STORAGE SYSTEM MARKET SIZE, MARKET ESTIMATES & FORECAST BY APPLICATION, 2019-2030
- 7.1.1 GLOBAL ENERGY STORAGE SYSTEM MARKETSIZE: MARKET ESTIMATES & FORECAST BY APPLICATION, 2019-2030
7.2 GLOBAL ENERGY STORAGE SYSTEM MARKET SIZE, MARKET ESTIMATES & FORECAST BY APPLICATION, 2019-2030
- 7.2.1 GLOBAL ENERGY STORAGE SYSTEM MARKETSIZE: MARKET ESTIMATES & FORECAST BY APPLICATION, 2019-2030

8 GLOBAL ENERGY STORAGE SYSTEM MARKET, BY END-USER

8.1 GLOBAL ENERGY STORAGE SYSTEM MARKET SIZE, MARKET ESTIMATES & FORECAST BY END-USER, 2019-2030
- 8.1.1 GLOBAL ENERGY STORAGE SYSTEM MARKETSIZE: MARKET ESTIMATES & FORECAST BY END-USER, 2019-2030

8.2 GLOBAL ENERGY STORAGE SYSTEM MARKET SIZE, MARKET ESTIMATES & FORECAST BY END-USER, 2019-2030
- 8.2.1 GLOBAL ENERGY STORAGE SYSTEM MARKETSIZE: MARKET ESTIMATES & FORECAST BY END-USER, 2019-2030

9 GLOBAL ENERGY STORAGE SYSTEM MARKET, BY REGION

9.1 NORTH AMERICA
- 9.1.1 US
- 9.1.2 CANADA
- 9.1.3 MEXICO
9.2 EUROPE
- 9.2.1 GERMANY
- 9.2.2 FRANCE
- 9.2.3 UK
- 9.2.4 ITALY
- 9.2.5 SPAIN
- 9.2.6 RUSSIA
- 9.2.7 AUSTRIA
- 9.2.8 SWITZERLAND
- 9.2.9 REST OF EUROPE
9.3 ASIA-PACIFIC
- 9.3.1 CHINA
- 9.3.2 INDIA
- 9.3.3 JAPAN
- 9.3.4 AUSTRALIA
- 9.3.5 NEW ZEALAND
- 9.3.6 SOUTH-EAST ASIA
- 9.3.7 REST OF ASIA-PACIFIC
9.4 SOUTH AMERICA
- 9.4.1 BRAZIL
- 9.4.2 ARGENTINA
- 9.4.3 REST OF SOUTH AMERICA
9.5 MIDDLE EAST & AFRICA
- 9.5.1 GCC COUNTRIES
- 9.5.2 SOUTH AFRICA
- 9.5.3 REST OF MIDDLE EAST & AFRICA

10 COMPETITIVE LANDSCAPE

10.1 INTRODUCTION
10.2 MARKET SHARE ANALYSIS
10.3 COMPETITIVE BENCHMARKING
10.4 COMPETITIVE DASHBOARD
10.5 MAJOR GROWTH STRATERGY IN MARKET
10.6 KEY DEVELOPMENTS AND GROWTH STRATEGIES
- 10.6.1 PRODUCT LAUNCH
- 10.6.2 EXPANSION
- 10.6.3 COLLABORATION/PARTNERSHIP
- 10.6.4 ACQUISITION

11 COMPANY PROFILES

11.1 ABB LTD.
- 11.1.1 COMPANY OVERVIEW
- 11.1.2 FINANCIAL OVERVIEW
- 11.1.3 PRODUCTS OFFERED
- 11.1.4 KEY DEVELOPMENTS
- 11.1.5 SWOT ANALYSIS
- 11.1.6 KEY STRATEGIES
11.2 BYD COMPANY LIMITED.
- 11.2.1 COMPANY OVERVIEW
- 11.2.2 FINANCIAL OVERVIEW
- 11.2.3 PRODUCTS OFFERED
- 11.2.4 KEY DEVELOPMENTS
- 11.2.5 SWOT ANALYSIS
- 11.2.6 KEY STRATEGIES
11.3 EOS ENERGY ENTERPRISES, INC
- 11.3.1 COMPANY OVERVIEW
- 11.3.2 FINANCIAL OVERVIEW
- 11.3.3 PRODUCTS OFFERED
- 11.3.4 KEY DEVELOPMENTS
- 11.3.5 SWOT ANALYSIS
- 11.3.6 KEY STRATEGIES
11.4 EVAPCO, INC.
- 11.4.1 COMPANY OVERVIEW
- 11.4.2 FINANCIAL OVERVIEW
- 11.4.3 PRODUCTS OFFERED
- 11.4.4 KEY DEVELOPMENTS
- 11.4.5 SWOT ANALYSIS
- 11.4.6 KEY STRATEGIES
11.5 UCAP POWER, INC. (MAXWELL TECHNOLOGIES INC)
- 11.5.1 FINANCIAL OVERVIEW
- 11.5.2 PRODUCTS OFFERED
- 11.5.3 KEY DEVELOPMENTS
- 11.5.4 SWOT ANALYSIS
- 11.5.5 KEY STRATEGIES
11.6 GENERAL ELECTRIC
- 11.6.1 COMPANY OVERVIEW
- 11.6.2 FINANCIAL OVERVIEW
- 11.6.3 PRODUCTS OFFERED
- 11.6.4 KEY DEVELOPMENTS
- 11.6.5 SWOT ANALYSIS
- 11.6.6 KEY STRATEGIES
11.7 HITACHI LTD.
- 11.7.1 COMPANY OVERVIEW
- 11.7.2 FINANCIAL OVERVIEW
- 11.7.3 PRODUCTS OFFERED
- 11.7.4 KEY DEVELOPMENTS
- 11.7.5 SWOT ANALYSIS
- 11.7.6 KEY STRATEGIES
11.8 SCHNEIDER ELECTRIC SE
- 11.8.1 COMPANY OVERVIEW
- 11.8.2 FINANCIAL OVERVIEW
- 11.8.3 PRODUCTS OFFERED
- 11.8.4 KEY DEVELOPMENTS
- 11.8.5 SWOT ANALYSIS
- 11.8.6 KEY STRATEGIES
11.9 SIEMENS AG
- 11.9.1 COMPANY OVERVIEW
- 11.9.2 FINANCIAL OVERVIEW
- 11.9.3 PRODUCTS OFFERED
- 11.9.4 KEY DEVELOPMENTS
- 11.9.5 SWOT ANALYSIS
- 11.9.6 KEY STRATEGIES
11.10 PANASONIC CORPORATION (PANASONIC HOLDINGS)
- 11.10.1 COMPANY OVERVIEW
- 11.10.2 FINANCIAL OVERVIEW
- 11.10.3 PRODUCTS OFFERED
- 11.10.4 KEY DEVELOPMENTS
- 11.10.5 SWOT ANALYSIS
- 11.10.6 KEY STRATEGIES

12 APPENDIX

12.1 REFERENCES
12.2 RELATED REPORTS