Global Battery Energy Storage System Market, By Element (Battery, Hardware), Battery Type (Lithium-Ion, Advanced Lead Acid, Flow Batteries, Sodium Sulfur), Connection Type (On-Grid, Off-Grid), Ownership (Customer Owned, Third-Party Owned, Utility Owned), Application (Residential, Non-Residential, Utilities, Other), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa)Industry Trends and Forecast to 2027
Battery energy storage system market is valued at USD 25.07 billion by 2027, and will witness its market growth at a rate of 31.06% over the forecast period of 2020 to 2027. Data Bridge Market Research report on battery energy storage system market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
The growth of battery energy storage system market is attributed due to the growing demand for grid-connected solutions. The high demand for the lithium-ion technology in the renewable energy industry is also aiding the growth of the market. Furthermore, the decreasing prices of lithium-ion batteries, increasing demand for reliable and constant power supply from various end user sectors such as telecom, industrial, marine, data centers and medical are the major factors that are driving the growth of the battery energy storage system market. The large storage requirements in data centers along with the various efforts taken by governments across the world to lessen carbon emissions by commanding on fuel economy are also motivating the growth of the target market. In addition, the rising focus on rural electrification across the world and growth of molten-salt battery technology will cater ample opportunities for the battery energy storage system market to capture.
The major factors limiting the growth of the battery energy storage system market are the high capital investment necessary for the deployment along with dearth of the availability of market vendors and project financing. The setting up of battery energy storage systems in remote locations will pose as major challenge towards the growth of the battery energy storage system market.
This battery energy storage system market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on battery energy storage system market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Battery Energy Storage System Market Scope and Market Size
Battery energy storage system market is segmented on the basis of element, battery type, connection type, ownership and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Based on element, the battery energy storage system market has been segmented into battery and hardware.
- On the basis of battery type, the battery energy storage system market has been segmented into lithium-ion, advanced lead acid, flow batteries, sodium sulfur and other. Other is further segmented into nickel–cadmium battery, nickel metal hydride battery and nickel–iron battery.
- Battery energy storage system has also been segmented on the basis of connection type into on-grid and off-grid.
- On the basis of ownership, the battery energy storage system market has been segmented into customer owned, third-party owned, utility owned.
- The application segment is segmented into residential, non-residential, utilities and other.
Battery Energy Storage System Market Country Level Analysis
Battery energy storage system market is analyzed and market size, volume information is provided by country, element, battery type, connection type, ownership and application as referenced above.
The countries covered in the market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)as a part of Middle East and Africa (MEA).
Asia-Pacific will dominate the battery energy storage system market owing to rapid population growth coupled with the increased power demand across emerging economies in the region. North America is expected to grow over the forecast period of 2020 to 2027 due to the increasing number of utilities and corporations, as energy storage has been foundation of all energy planning’s in the U.S.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Battery Energy Storage System Market Share Analysis
Battery energy storage system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to battery energy storage system market.
The major players covered in the battery energy storage system market report are LG Chem., ABB, The AES Corporation, Enerbrax Acumuladores Ltda, Beacon Power, LLC, BYD Company Limited, Alevo Group, Convergent Energy + Power, Greensmith Energy Management Systems, SMA Solar Technology AG, Exide Industries Ltd., Eos Energy Storage, Seeo, Inc., Corvus Energy, Scheider Electric, SK Holdings Co. Ltd., Trinabess, Autobat SACI, Eguana, Imergy Power Systems Inc., Ionotec Ltd and Tata Power among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Battery Energy Storage System Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.