Market Overview:
The global electric energy storage systems market is expected to grow at a CAGR of XX% and reach a market size of US$XX million by 2030. The growth in the electric energy storage systems market can be attributed to the increasing demand for renewable energy sources, rising concerns over grid reliability and security, and government initiatives for promoting electric vehicles (EVs). The lithium-ion segment is expected to account for the largest share of the global electric energy storage systems market in 2018. This segment is also projected to grow at the highest CAGR during the forecast period. The lead acid segment is expected to account for second largest share of the global electric energy storage systems market in 2018. However, this segment is projected to witness a lower CAGR as compared to other segments during the forecast period. In terms of application, residential sector accounted for majority share of global electric energy storage system installations in 2017 and it is anticipated that this trend would continue over next few years owing rise in number on rooftop solar PV installations across globe .
Product Definition:
Electric energy storage systems are used to store electric energy in the form of electrical potential energy or kinetic energy. The stored electric energy can then be released to provide power when needed. Electric Energy Storage Systems are important because they allow for the storage of renewable electricity from sources like solar and wind, which can then be used to provide power when traditional power sources like coal and natural gas are not available.
Lithium :
Lithium is a light, silver-white metal that is strong but brittle. It is the lightest of all the alkali metals and has the highest atomic number (7) of any stable element. Lithium occurs in mineral groups, including monazite and bastnaesite. The most common commercial source for lithium today involves mining for lithium hydroxide (LiOH) which consists of pure water along with dissolved minerals in it.
Lead Acid:
Lead acid batteries are the most common type of battery used in consumer electronics, electric vehicles and power generation. Lead (Pb) is the main raw material used in manufacturing these batteries. Battery manufacturers such as ENN Energy and Johnson Controls invest a significant amount in R&D activities for developing new technologies that reduce carbon footprint during battery production to increase their share in an environmentally conscious market place.
Application Insights:
The utility & commercial application segment accounted for the largest market share of over 75% in 2017. The segment is projected to witness significant growth owing to the increasing number of utility-scale projects across countries, such as China, India and Australia. Furthermore, favorable government initiatives and tax credits are expected to drive demand over the forecast period.
The residential application segment is anticipated to expand at a CAGR of XX% from 2018 to 2030 owing to growing concerns about energy security and rising environmental awareness among consumers globally. Increasing consumer disposable income levels coupled with easy access ¢â‚¬Ëœbuy now pay later¢â‚¬â„¢ schemes are expected fuel demand for electric energy storage systems (EESS) in the residential sector over the forecast period.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The presence of key players, such as Panasonic Corporation; Samsung Group; LG Chem Ltd.; and Toshiba Corporation, has resulted in high penetration of electric energy storage systems across various end-use sectors such as residential, commercial building/utility, and grid-scale applications.
The growing adoption of renewable energy coupled with favorable government policies aimed at reducing carbon footprint is expected to drive industry growth across Asia Pacific region. China accounted for a major share owing to its large population along with frequent power outages due to heavy snowfall or rainfall are some of the factors that have led it being considered one of the most promising markets for EESS globally.
North America emerged as one among the largest regional markets in 2017 owing to increasing investments from U.S., which accounted for around 80% revenue share within North America market that year. The U.S.
Growth Factors:
- Increasing demand for electric vehicles: The global electric vehicle market is expected to grow at a CAGR of more than 20% during the forecast period. This would lead to an increase in the demand for electric energy storage systems, as they are used to store energy from charging stations.
- Government initiatives and subsidies: Governments across the globe are promoting the use of electric vehicles by providing subsidies and incentives for their purchase and use. This is expected to drive the growth of the electric energy storage systems market in coming years.
- Declining prices of lithium-ion batteries: The prices of lithium-ion batteries have been declining steadily over the past few years, owing to advancements in technology and increased production capacity worldwide. This is likely to benefit the growth prospects of Electric Energy Storage Systems market in coming years.
Scope Of The Report
Report Attributes
Report Details
Report Title
Electric Energy Storage Systems Market Research Report
By Type
Lithium , Lead Acid, NaS, Others
By Application
Residential, Utility & Commercial
By Companies
Samsung SDI, LG Chem, Hitachi, Kokam, Fluence Energy, LSIS, SMA Solar Technology, NGK, General Electric, Primus, Panasonic, BYD, Younicos, ABB, Saft Batteries, Lockheed Martin Energy, Eos Energy Storage, Con Edison Solutions
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
233
Number of Tables & Figures
164
Customization Available
Yes, the report can be customized as per your need.
Global Electric Energy Storage Systems Market Report Segments:
The global Electric Energy Storage Systems market is segmented on the basis of:
Types
Lithium , Lead Acid, NaS, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Residential, Utility & Commercial
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Samsung SDI
- LG Chem
- Hitachi
- Kokam
- Fluence Energy
- LSIS
- SMA Solar Technology
- NGK
- General Electric
- Primus
- Panasonic
- BYD
- Younicos
- ABB
- Saft Batteries
- Lockheed Martin Energy
- Eos Energy Storage
- Con Edison Solutions
Highlights of The Electric Energy Storage Systems Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- LithiumÂ
- Lead Acid
- NaS
- Others
- By Application:
- Residential
- Utility & Commercial
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Electric Energy Storage Systems Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Electric energy storage systems are a type of energy storage system that uses electricity to store energy. Electric energy storage systems can be used to store renewable or non-renewable electricity, and can be used to provide power when the grid is not able to provide enough electricity.
Some of the key players operating in the electric energy storage systems market are Samsung SDI, LG Chem, Hitachi, Kokam, Fluence‚Â Energy, LSIS, SMA Solar Technology, NGK, General Electric, Primus, Panasonic, BYD, Younicos, ABB, Saft Batteries, Lockheed‚Â Martin‚Â Energy, Eos Energy Storage, Con Edison Solutions.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Electric Energy Storage Systems Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Electric Energy Storage Systems Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Electric Energy Storage Systems Market - Supply Chain
4.5. Global Electric Energy Storage Systems Market Forecast
4.5.1. Electric Energy Storage Systems Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Electric Energy Storage Systems Market Size (000 Units) and Y-o-Y Growth
4.5.3. Electric Energy Storage Systems Market Absolute $ Opportunity
5. Global Electric Energy Storage Systems Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Electric Energy Storage Systems Market Size and Volume Forecast by Type
5.3.1. Lithium
5.3.2. Lead Acid
5.3.3. NaS
5.3.4. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Electric Energy Storage Systems Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Electric Energy Storage Systems Market Size and Volume Forecast by Application
6.3.1. Residential
6.3.2. Utility & Commercial
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Electric Energy Storage Systems Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Electric Energy Storage Systems Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Electric Energy Storage Systems Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Electric Energy Storage Systems Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Electric Energy Storage Systems Demand Share Forecast, 2019-2026
9. North America Electric Energy Storage Systems Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Electric Energy Storage Systems Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Electric Energy Storage Systems Market Size and Volume Forecast by Application
9.4.1. Residential
9.4.2. Utility & Commercial
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Electric Energy Storage Systems Market Size and Volume Forecast by Type
9.7.1. Lithium
9.7.2. Lead Acid
9.7.3. NaS
9.7.4. Others
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Electric Energy Storage Systems Demand Share Forecast, 2019-2026
10. Latin America Electric Energy Storage Systems Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Electric Energy Storage Systems Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Electric Energy Storage Systems Market Size and Volume Forecast by Application
10.4.1. Residential
10.4.2. Utility & Commercial
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Electric Energy Storage Systems Market Size and Volume Forecast by Type
10.7.1. Lithium
10.7.2. Lead Acid
10.7.3. NaS
10.7.4. Others
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Electric Energy Storage Systems Demand Share Forecast, 2019-2026
11. Europe Electric Energy Storage Systems Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Electric Energy Storage Systems Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Electric Energy Storage Systems Market Size and Volume Forecast by Application
11.4.1. Residential
11.4.2. Utility & Commercial
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Electric Energy Storage Systems Market Size and Volume Forecast by Type
11.7.1. Lithium
11.7.2. Lead Acid
11.7.3. NaS
11.7.4. Others
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Electric Energy Storage Systems Demand Share, 2019-2026
12. Asia Pacific Electric Energy Storage Systems Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Electric Energy Storage Systems Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Electric Energy Storage Systems Market Size and Volume Forecast by Application
12.4.1. Residential
12.4.2. Utility & Commercial
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Electric Energy Storage Systems Market Size and Volume Forecast by Type
12.7.1. Lithium
12.7.2. Lead Acid
12.7.3. NaS
12.7.4. Others
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Electric Energy Storage Systems Demand Share, 2019-2026
13. Middle East & Africa Electric Energy Storage Systems Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Electric Energy Storage Systems Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Electric Energy Storage Systems Market Size and Volume Forecast by Application
13.4.1. Residential
13.4.2. Utility & Commercial
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Electric Energy Storage Systems Market Size and Volume Forecast by Type
13.7.1. Lithium
13.7.2. Lead Acid
13.7.3. NaS
13.7.4. Others
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Electric Energy Storage Systems Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Electric Energy Storage Systems Market: Market Share Analysis
14.2. Electric Energy Storage Systems Distributors and Customers
14.3. Electric Energy Storage Systems Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Samsung SDI
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. LG Chem
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Hitachi
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Kokam
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Fluence Energy
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. LSIS
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. SMA Solar Technology
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. NGK
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. General Electric
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Primus
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Panasonic
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. BYD
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Younicos
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. ABB
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Saft Batteries
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Lockheed Martin Energy
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Eos Energy Storage
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Con Edison Solutions
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
