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Energy Storage Systems Market by Technology (Compressed Air, Pumped Hydro Storage, Lithium Ion, Sodium Sulfur, Nickel Cadmium, Lead Acid, Redox-Flow, and Flywheel), by Application (Transportation and Grid Storage), and by End-User (Non-Residential, Utility, and Residential): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024

Published Date: 04-Jul-2018 Category: Energy & Mining Report Format : PDF Pages: 110 Report Code: ZMR-2635 Status : Published

Global energy storage systems market expected to generate revenue of around USD 296.0 billion by the end of 2024, growing at a CAGR of around 6.2% between 2018 and 2024. Growing focus on energy management to achieve increasing demand for electricity is expected to increase the use of energy storage systems over the forecast period.

Description

The report covers forecast and analysis for the energy storage systems market on a global and regional level. The study provides historical data from 2015 to 2017 along with a forecast from 2018 to 2024 based on revenue (USD Billion). The study includes drivers and restraints for the energy storage systems market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the energy storage systems market on a global level.

In order to give the users of this report a comprehensive view of the energy storage systems market, we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein technology segment, application segment, and end-user segments are benchmarked based on their market size, growth rate, and general attractiveness.

The report provides company market share analysis in order to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new technology launch, agreements, partnerships, collaborations & joint ventures, research & development, technology and regional expansion of major participants involved in the market on the global and regional basis. Moreover, the study covers price trend analysis, technology portfolio of various companies according to the region.

Global Energy Storage Systems Market

The study provides a decisive view of the energy storage systems market by segmenting the market based on technology, application, end-user, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2017 to 2024. Based on technology, the energy storage systems market is segmented into compressed air, pumped hydro storage, lithium ion, sodium sulfur, nickel cadmium, lead acid, redox-flow, and flywheel. On the basis of application, the market is segmented into transportation and grid storage. Based on end-user, the market is segmented into non-residential, utility, and residential. The regional segmentation includes the historic and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. This segmentation includes demand for energy storage systems market based on all segments in all the regions and countries. 

The report also includes detailed profiles of end players such as includes Exide Industries Ltd., SMA Solar Technology AG, Autobat SACI, Scheider Electric, SK Holdings, Imergy Power Systems, Enerbrax Acumuladores Ltd., Eguana Technologies, Beacon Power, LLC, Tata Power, Ionotec Ltd., ABB Ltd., LG Chem., Convergent Energy and Power Inc., AES Energy Storage, LLC, BYD Company Limited, Greensmith Energy Management Systems, Eos Energy Storage, S&C Electric Company, and Seeo, Inc.  

This report segments the global energy storage systems market as follows:

Global Energy Storage Systems Market: Technology Segment Analysis

  • Compressed Air
  • Pumped Hydro Storage
  • Lithium Ion
  • Sodium Sulfur
  • Nickel Cadmium
  • Lead Acid
  • Redox-Flow
  • Flywheel  

Global Energy Storage Systems Market: Application Segment Analysis

  • Transportation
  • Grid Storage  

Global Energy Storage Systems Market: End User Segment Analysis

  • Non-Residential
  • Utility
  • Residential  

Global Energy Storage Systems Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

Table Of Content

  • Chapter 1. Introduction
    • 1.1. Report description and scope
    • 1.2. Research scope
    • 1.3. Research methodology
      • 1.3.1. Market research process
      • 1.3.2. Market research methodology
  •  
  • Chapter 2. Executive Summary
    • 2.1. Global energy storage systems market, 2015 - 2024 (USD Million)
    • 2.2. Global energy storage systems market: snapshot
  •  
  • Chapter 3. Energy Storage Systems Market- Market Dynamics
    • 3.1. Introduction
    • 3.2. Market Drivers
      • 3.2.1. Global energy storage systems market drivers: impact analysis
      • 3.2.2. Increasing investments in renewable energy
      • 3.2.3. Declining technology cost due to technology advancement and expanded deployment
    • 3.3. Market Restraints
      • 3.3.1. Global energy storage systems market restraints: impact analysis
      • 3.3.2. Hazardous environmental impact
    • 3.4. Opportunities
      • 3.4.1. Growing opportunity for commercial and residential sectors
    • 3.5. Porter's five forces analysis
    • 3.6. Market Attractiveness Analysis
      • 3.6.1. Market attractiveness analysis, by technology segment
      • 3.6.2. Market attractiveness analysis, by application segment
      • 3.6.3. Market attractiveness analysis, by end-user segment
      • 3.6.4. Market attractiveness analysis, by regional segment
  •  
  • Chapter 4. Global Energy Storage Systems Market- Competitive Landscape
    • 4.1. Company market share analysis
      • 4.1.1. Global energy storage systems market: company market share, 2017
    • 4.2. Strategic development
      • 4.2.1. Acquisitions & mergers
      • 4.2.2. New product launch
      • 4.2.3. Agreements, partnerships, collaborations and joint ventures
      • 4.2.4. Research and development and regional expansion
  •  
  • Chapter 5. Global Energy Storage Systems Market- Technology Segment Analysis
    • 5.1. Global energy storage systems market: technology overview
      • 5.1.1. Global energy storage systems market revenue share, by technology, 2017 and 2024
    • 5.2. Compressed Air
      • 5.2.1. Global energy storage systems market for compressed air market, 2015 - 2024 (USD Million)
    • 5.3. Pumped Hydro Storage
      • 5.3.1. Global energy storage systems market for pumped hydro storage market, 2015 - 2024 (USD Million)
    • 5.4. Lithium Ion
      • 5.4.1. Global energy storage systems market for lithium ion market, 2015 - 2024 (USD Million)
    • 5.5. Sodium Sulfur
      • 5.5.1. Global energy storage systems market for sodium sulfur market, 2015 - 2024 (USD Million)
    • 5.6. Nickel Cadmium
      • 5.6.1. Global energy storage systems market for nickel cadmium market, 2015 - 2024 (USD Million)
    • 5.7. Lead Acid
      • 5.7.1. Global energy storage systems market for lead acid market, 2015 - 2024 (USD Million)
    • 5.8. Redox-Flow
      • 5.8.1. Global energy storage systems market for redox-flow market, 2015 - 2024 (USD Million)
    • 5.9. Flywheel
      • 5.9.1. Global energy storage systems market for flywheel market, 2015 - 2024 (USD Million)
  •  
  • Chapter 6. Global Energy Storage Systems Market- Application Segment Analysis
    • 6.1. Global energy storage systems market: application overview
      • 6.1.1. Global energy storage systems market revenue share, by application, 2017 and 2024
    • 6.2. Transportation
      • 6.2.1. Global energy storage systems market for transportation market, 2015 - 2024 (USD Million)
    • 6.3. Grid Storage
      • 6.3.1. Global energy storage systems market for grid storage market, 2015 - 2024 (USD Million)
  •  
  • Chapter 7. Global Energy Storage Systems Market- End-User Segment Analysis
    • 7.1. Global energy storage systems market: end-user overview
      • 7.1.1. Global energy storage systems market revenue share, by end-user, 2017 and 2024
    • 7.2. Non-Residential
      • 7.2.1. Global energy storage systems market for non-residential, 2015 - 2024 (USD Million)
    • 7.3. Residential
      • 7.3.1. Global energy storage systems market for residential, 2015 - 2024 (USD Million)
    • 7.4. Utility
      • 7.4.1. Global energy storage systems market for utility, 2015 - 2024 (USD Million)
  •  
  • Chapter 8. Global Energy Storage Systems Market- Regional Segment Analysis
    • 8.1. Global energy storage systems market: regional overview
      • 8.1.1. Global energy storage systems market revenue share, by region, 2017 and 2024
    • 8.2. North America
      • 8.2.1. North America energy storage systems market revenue, by technology, 2015 - 2024 (USD Million)
      • 8.2.2. North America energy storage systems market revenue, by application, 2015 - 2024 (USD Million)
      • 8.2.3. North America energy storage systems market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.2.4. U.S.
        • 8.2.4.1. U.S. energy storage systems market revenue, by technology, 2015 - 2024 (USD Million)
        • 8.2.4.2. U.S. energy storage systems market revenue, by application, 2015 - 2024 (USD Million)
        • 8.2.4.3. U.S. energy storage systems market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.2.5. Canada
        • 8.2.5.1. Canada energy storage systems market revenue, by technology, 2015 - 2024 (USD Million)
        • 8.2.5.2. Canada energy storage systems market revenue, by application, 2015 - 2024 (USD Million)
        • 8.2.5.3. Canada energy storage systems market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.2.6. Mexico
        • 8.2.6.1. Mexico energy storage systems market revenue, by technology, 2015 - 2024 (USD Million)
        • 8.2.6.2. Mexico energy storage systems market revenue, by application, 2015 - 2024 (USD Million)
        • 8.2.6.3. Mexico energy storage systems market revenue, by end-user, 2015 - 2024 (USD Million)
    • 8.3. Europe
      • 8.3.1. Europe energy storage systems market revenue, by technology, 2015 - 2024 (USD Million)
      • 8.3.2. Europe energy storage systems market revenue, by application, 2015 - 2024 (USD Million)
      • 8.3.3. Europe energy storage systems market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.3.4. UK
        • 8.3.4.1. UK energy storage systems market revenue, by technology, 2015 - 2024 (USD Million)
        • 8.3.4.2. UK energy storage systems market revenue, by application, 2015 - 2024 (USD Million)
        • 8.3.4.3. UK energy storage systems market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.3.5. Germany
        • 8.3.5.1. Germany energy storage systems market revenue, by technology, 2015 - 2024 (USD Million)
        • 8.3.5.2. Germany energy storage systems market revenue, by application, 2015 - 2024 (USD Million)
        • 8.3.5.3. Germany energy storage systems market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.3.6. France
        • 8.3.6.1. France energy storage systems market revenue, by technology, 2015 - 2024 (USD Million)
        • 8.3.6.2. France energy storage systems market revenue, by application, 2015 - 2024 (USD Million)
        • 8.3.6.3. France energy storage systems market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.3.7. Spain
        • 8.3.7.1. Spain energy storage systems market revenue, by technology, 2015 - 2024 (USD Million)
        • 8.3.7.2. Spain energy storage systems market revenue, by application, 2015 - 2024 (USD Million)
        • 8.3.7.3. Spain energy storage systems market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.3.8. Italy
        • 8.3.8.1. Italy energy storage systems market revenue, by technology, 2015 - 2024 (USD Million)
        • 8.3.8.2. Italy energy storage systems market revenue, by application, 2015 - 2024 (USD Million)
        • 8.3.8.3. Italy energy storage systems market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.3.9. Switzerland
        • 8.3.9.1. Switzerland energy storage systems market revenue, by technology, 2015 - 2024 (USD Million)
        • 8.3.9.2. Switzerland energy storage systems market revenue, by application, 2015 - 2024 (USD Million)
        • 8.3.9.3. Switzerland energy storage systems market revenue, by end-user, 2015 - 2024 (USD Million)
    • 8.4. Asia Pacific
      • 8.4.1. Asia Pacific energy storage systems market revenue, by technology, 2015 - 2024 (USD Million)
      • 8.4.2. Asia Pacific energy storage systems market revenue, by application, 2015 - 2024 (USD Million)
      • 8.4.3. Asia Pacific energy storage systems market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.4.4. China
        • 8.4.4.1. China energy storage systems market revenue, by technology, 2015 - 2024 (USD Million)
        • 8.4.4.2. China energy storage systems market revenue, by application, 2015 - 2024 (USD Million)
        • 8.4.4.3. China energy storage systems market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.4.5. Japan
        • 8.4.5.1. Japan energy storage systems market revenue, by technology, 2015 - 2024 (USD Million)
        • 8.4.5.2. Japan energy storage systems market revenue, by application, 2015 - 2024 (USD Million)
        • 8.4.5.3. Japan energy storage systems market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.4.6. India
        • 8.4.6.1. India energy storage systems market revenue, by technology, 2015 - 2024 (USD Million)
        • 8.4.6.2. India energy storage systems market revenue, by application, 2015 - 2024 (USD Million)
        • 8.4.6.3. India energy storage systems market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.4.7. Australia
        • 8.4.7.1. Australia energy storage systems market revenue, by technology, 2015 - 2024 (USD Million)
        • 8.4.7.2. Australia energy storage systems market revenue, by application, 2015 - 2024 (USD Million)
        • 8.4.7.3. Australia energy storage systems market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.4.8. South Korea
        • 8.4.8.1. South Korea energy storage systems market revenue, by technology, 2015 - 2024 (USD Million)
        • 8.4.8.2. South Korea energy storage systems market revenue, by application, 2015 - 2024 (USD Million)
        • 8.4.8.3. South Korea energy storage systems market revenue, by end-user, 2015 - 2024 (USD Million)
    • 8.5. Latin America
      • 8.5.1. Latin America energy storage systems market revenue, by technology, 2015 - 2024 (USD Million)
      • 8.5.2. Latin America energy storage systems market revenue, by application, 2015 - 2024 (USD Million)
      • 8.5.3. Latin America energy storage systems market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.5.4. Brazil
        • 8.5.4.1. Brazil energy storage systems market revenue, by technology, 2015 - 2024 (USD Million)
        • 8.5.4.2. Brazil energy storage systems market revenue, by application, 2015 - 2024 (USD Million)
        • 8.5.4.3. Brazil energy storage systems market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.5.5. Chile
        • 8.5.5.1. Chile energy storage systems market revenue, by technology, 2015 - 2024 (USD Million)
        • 8.5.5.2. Chile energy storage systems market revenue, by application, 2015 - 2024 (USD Million)
        • 8.5.5.3. Chile energy storage systems market revenue, by end-user, 2015 - 2024 (USD Million)
    • 8.6. Middle East and Africa
      • 8.6.1. Middle East and Africa energy storage systems market revenue, by technology, 2015 - 2024 (USD Million)
      • 8.6.2. Middle East and Africa energy storage systems market revenue, by application, 2015 - 2024 (USD Million)
      • 8.6.3. Middle East and Africa energy storage systems market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.6.4. Israel
        • 8.6.4.1. Israel energy storage systems market revenue, by technology, 2015 - 2024 (USD Million)
        • 8.6.4.2. Israel energy storage systems market revenue, by application, 2015 - 2024 (USD Million)
        • 8.6.4.3. Israel energy storage systems market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.6.5. South Africa
        • 8.6.5.1. South Africa energy storage systems market revenue, by technology, 2015 - 2024 (USD Million)
        • 8.6.5.2. South Africa energy storage systems market revenue, by application, 2015 - 2024 (USD Million)
        • 8.6.5.3. South Africa energy storage systems market revenue, by end-user, 2015 - 2024 (USD Million)
  •  
  • Chapter 9. Company Profile
    • 9.1. Exide Industries Ltd.
      • 9.1.1. Overview
      • 9.1.2. Financials
      • 9.1.3. Product portfolio
      • 9.1.4. Business strategy
      • 9.1.5. Recent developments
    • 9.2. SMA Solar Technology AG
      • 9.2.1. Overview
      • 9.2.2. Financials
      • 9.2.3. Product portfolio
      • 9.2.4. Business strategy
      • 9.2.5. Recent developments
    • 9.3. Autobat SACI
      • 9.3.1. Overview
      • 9.3.2. Financials
      • 9.3.3. Product portfolio
      • 9.3.4. Business strategy
      • 9.3.5. Recent developments
    • 9.4. Scheider Electric
      • 9.4.1. Overview
      • 9.4.2. Financials
      • 9.4.3. Product portfolio
      • 9.4.4. Business strategy
      • 9.4.5. Recent developments
    • 9.5. SK Holdings
      • 9.5.1. Overview
      • 9.5.2. Financials
      • 9.5.3. Product portfolio
      • 9.5.4. Business strategy
      • 9.5.5. Recent developments
    • 9.6. Imergy Power Systems
      • 9.6.1. Overview
      • 9.6.2. Financials
      • 9.6.3. Product portfolio
      • 9.6.4. Business strategy
      • 9.6.5. Recent developments
    • 9.7. Enerbrax Acumuladores Ltd.
      • 9.7.1. Overview
      • 9.7.2. Financials
      • 9.7.3. Product portfolio
      • 9.7.4. Business strategy
      • 9.7.5. Recent developments
    • 9.8. Eguana Technologies
      • 9.8.1. Overview
      • 9.8.2. Financials
      • 9.8.3. Product portfolio
      • 9.8.4. Business strategy
      • 9.8.5. Recent developments
    • 9.9. Beacon Power
      • 9.9.1. Overview
      • 9.9.2. Financials
      • 9.9.3. Product portfolio
      • 9.9.4. Business strategy
      • 9.9.5. Recent developments
    • 9.10. Tata Power
      • 9.10.1. Overview
      • 9.10.2. Financials
      • 9.10.3. Product portfolio
      • 9.10.4. Business strategy
      • 9.10.5. Recent developments
    • 9.11. Ionotec Ltd
      • 9.11.1. Overview
      • 9.11.2. Financials
      • 9.11.3. Product portfolio
      • 9.11.4. Business strategy
      • 9.11.5. Recent developments
    • 9.12. ABB Ltd
      • 9.12.1. Overview
      • 9.12.2. Financials
      • 9.12.3. Product portfolio
      • 9.12.4. Business strategy
      • 9.12.5. Recent developments
    • 9.13. LG Chem.
      • 9.13.1. Overview
      • 9.13.2. Financials
      • 9.13.3. Product portfolio
      • 9.13.4. Business strategy
      • 9.13.5. Recent developments
    • 9.14. Convergent Energy and Power Inc.
      • 9.14.1. Overview
      • 9.14.2. Financials
      • 9.14.3. Product portfolio
      • 9.14.4. Business strategy
      • 9.14.5. Recent developments
    • 9.15. Eguana Technologies
      • 9.15.1. Overview
      • 9.15.2. Financials
      • 9.15.3. Product portfolio
      • 9.15.4. Business strategy
      • 9.15.5. Recent developments
    • 9.16. AES Energy Storage
      • 9.16.1. Overview
      • 9.16.2. Financials
      • 9.16.3. Product portfolio
      • 9.16.4. Business strategy
      • 9.16.5. Recent developments
    • 9.17. Tata Power
      • 9.17.1. Overview
      • 9.17.2. Financials
      • 9.17.3. Product portfolio
      • 9.17.4. Business strategy
      • 9.17.5. Recent developments
    • 9.18. BYD Company Limited
      • 9.18.1. Overview
      • 9.18.2. Financials
      • 9.18.3. Product portfolio
      • 9.18.4. Business strategy
      • 9.18.5. Recent developments
    • 9.19. Greensmith Energy Management Systems
      • 9.19.1. Overview
      • 9.19.2. Financials
      • 9.19.3. Product portfolio
      • 9.19.4. Business strategy
      • 9.19.5. Recent developments
    • 9.20. Eos Energy Storage
      • 9.20.1. Overview
      • 9.20.2. Financials
      • 9.20.3. Product portfolio
      • 9.20.4. Business strategy
      • 9.20.5. Recent developments
    • 9.21. S&C Electric Company
      • 9.21.1. Overview
      • 9.21.2. Financials
      • 9.21.3. Product portfolio
      • 9.21.4. Business strategy
      • 9.21.5. Recent developments
    • 9.22. Seeo, Inc
      • 9.22.1. Overview
      • 9.22.2. Financials
      • 9.22.3. Product portfolio
      • 9.22.4. Business strategy
      • 9.22.5. Recent developments

Methodology

Free Analysis

Energy storage systems (ESS) are used conveniently and efficiently to store multiple forms of energy that can be utilized as per required, such as lithium-ion batteries. Energy storage is an essential tool to enable effective integration of renewable energy and benefits of local generation and clean, resilient supply of energy. Installation of stationary ESS is increasing extensively across the world as system costs are decreasing rapidly and as energy markets are being reformed. The development of advanced energy storage systems (ESS) is highly concentrated in few selected markets, especially regions with developed economies. Although there has been a rapid decline in the cost, ESS remain expensive and investment required is difficult to obtain without the support of government and low-cost financing. The advanced technology requires knowledge and expertise for operation. Moreover, services provided by ESS are not properly valued or recognized within the regulations of energy. ESS deployment is required to make the electricity grid more efficient, resilient, secure, cost-effective, and sustainable.

As per the estimates of International Energy Agency (IEA), emerging countries need to double their electrical power output by 2020 to meet the increasing demand. Emerging countries are predicted to account for 80% of the total growth in the production and consumption of energy by 2035. Energy storage systems include several means used to recover and store energy for the future use. Electric energy storage systems return and accept the stored energy as electric power, while they may also store the energy in some other form. Electrical energy storage (EES) is an important technology in the sector covered by IEC. EES techniques are using unique capabilities to cope with some critical characteristics of electricity, for instance, fluctuations in price and demand on hour basis. In the future years, EES is expected to become essential in emerging IEC relevant markets for renewable energy, to decrease CO2 and also for smart grids.

Global Energy Storage Systems Market

Based on technology, the energy storage systems market is segmented into compressed air, pumped hydro storage, lithium ion, sodium sulfur, nickel cadmium, lead acid, redox-flow, and flywheel. On the basis of application, the market is segmented into transportation and grid storage. Based on end-user, the energy storage systems market is segmented into non-residential, utility, and residential.

The Asia Pacific held a significant revenue share in energy storage systems market and is expected to hold its regional supremacy over the forecast period. The growth is attributed in countries such as China and Japan. China is a major manufacturing hub of batteries for electric vehicles. Currently, major Japanese manufacturers such as Sharp, Panasonic, and Kyocera provide solar-plus-storage systems with lithium-ion batteries. Rising number of employment is the foremost driving factor for energy storage systems market growth in Europe.

Some of the key players operating in energy storage systems market includes Exide Industries Ltd., SMA Solar Technology AG, Autobat SACI, Scheider Electric, SK Holdings, Imergy Power Systems, Enerbrax Acumuladores Ltd., Eguana Technologies, Beacon Power, LLC, Tata Power, Ionotec Ltd., ABB Ltd., LG Chem., Convergent Energy and Power Inc., AES Energy Storage, LLC, BYD Company Limited, Greensmith Energy Management Systems, Eos Energy Storage, S&C Electric Company, and Seeo, Inc. Industry players are focusing on research & development activities and strategic agreement in order to gain revenue share.

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