Market Research Report
<2022.1H> Global ESS Market Outlook (2019~2030)
|<2022.1H> Global ESS Market Outlook (2019~2030)|
Published: February 21, 2022
Content info: 95 Pages
Delivery time: Inquiry
The environmental policies upheld by the Biden administration has led to an expectation for high growth of ESS mainly in the North American Market. Meanwhile, China, which has implemented its own environment policy focusing on the expansion of EV distribution, recently announced its 14th 5-year plan with the goal of achieving carbon neutrality. The plan lays out the Chinese government's intention to mandate the installation of ESS as 2-hour backup system covering at least 10% of the capacity of renewable generation, reinvigorating the power grid ESS market in China. In addition, a board expansion of 5G base stations in China has also led to a sharp growth in the telecommunication ESS market. All of these add up to create the landscape of two major players - China and North America - standing tall in the ESS industry, ultimately stimulating further expansion of the global ESS market in future.
This report, 'Global ESS Mid/Long-term Market Outlook,' released for the 1st half of 2022 aims to provide a fresh view on the ESS market by reflecting the rapidly-changing Chinese market of these days.
Recently, the development of ESS battery makers has suddenly centered around LFP batteries made in China. The Chinese market for energy storage systems has also been invigorated. These all lead to an expectation for huge increase in supply from the Chinese makers who will outperform the Korean companies who have led the ESS market so far. In addition, after addressing battery supply and demand issues, Tesla has also been trying to expand its presence in the market.
Due to the recent increase in metal price, the battery price is in the upward trend. However, with regards to ESS, LFP batteries made in China have been supplied in large number, slowing down the decline of average selling price a bit. The downward trend, though, is expected to last longer.
During difficult times, we hope this report to serve all of you working in the ESS industry as priming water for future business.