Market Overview:
The global electrochemical energy storage market is expected to grow from USD XX million in 2018 to USD XX million by 2030, at a CAGR of XX%. The growth of the market can be attributed to the increasing demand for renewable energy and the need for grid-connected storage systems. The electrochemical energy storage market is segmented on the basis of type, application, and region. On the basis of type, the market is divided into liquid flow batteries, lithium ion batteries, lead acid batteries, other types of electrochemical energy storage devices (such as sodium sulfur and zinc bromine), and electrical auxiliary service. The liquid flow battery segment is expected to grow at a high CAGR during the forecast period. This growth can be attributed to its advantages such as longer life cycle than other battery types; scalability; modularity; fast response time; low maintenance cost; and no environmental impact. On regional basis North America dominates global Electrochemical Energy Storage Market with highest share in terms revenue followed by Europe .
Product Definition:
Electrochemical energy storage is a technology that uses electrochemical reactions to store and release electrical energy. These reactions can occur in batteries, fuel cells, or supercapacitors. Electrochemical energy storage is important because it allows us to store electrical energy for use when we need it. This can be useful for powering devices like cell phones and laptops, or for storing energy from renewable sources like solar and wind power.
Liquid Flow:
Liquid flow is the movement of liquid in a continuous manner from one place to another. In electrochemical energy storage (ECES), liquid flow is used for transportation of electrolyte between battery cells and electrodes. The most commonly used electrolytes are sulfuric acid, molten salt, and water.
Lithium:
Lithium is a light, silver-white metal. It is the lightest of all the alkali metals and has the highest atomic number (7) of any metallic element. Lithium occurs naturally as mineral deposits including lithium oxide, lite ore, and monazite. The most common commercial source for lithium production includes mines in Chile and Australia along with some reserves in China & Argentina; however, small reserves of lithium are also found in North America & Africa.
Application Insights:
The grid-connected application segment dominated the market in 2017 and is projected to witness significant growth over the forecast period. The growing need for energy storage as a result of increasing renewable power generation has led to increased investments by various governments in order to develop large-scale solar and wind farms.
These projects require long-term contracts with electricity suppliers, which have resulted in an increased number of electrochemical energy storage systems being deployed on a grid-connected basis. Furthermore, regulatory support for net metering along with tax credits granted on installation of such systems is expected to drive demand over the coming years. Increasing penetration of renewable power sources including wind and solar rays coupled with rising concerns regarding greenhouse gas emissions has driven countries across Europe, Asia Pacific, North America and Middle East & Africa towards adopting policies supportive of electric vehicles (EVs).
Regional Analysis:
Asia Pacific accounted for the largest market share in 2017 and is expected to continue its dominance over the forecast period. The region has witnessed a growing demand for energy storage owing to increasing industrialization, urbanization, and GDP growth rates. Increasing penetration of renewable energy in China owing to government subsidies on solar panels coupled with rising electricity demand due to rapid urbanization is anticipated to drive industry growth over the next eight years.
North America was another prominent market accounting for 24% of global revenue share in 2017 followed by Europe which accounted for 20% of total revenue share that year.
Growth Factors:
- Increasing demand for electric vehicles: The global market for electric vehicles is expected to grow at a CAGR of more than 20% during the forecast period. This will lead to an increase in the demand for electrochemical energy storage systems, as they are used to store energy in these vehicles.
- Development of smart grids: Smart grids are being developed across the world as a way to improve the efficiency and reliability of electricity distribution networks. Electrochemical energy storage systems can play an important role in these grids by helping to store and distribute electricity when needed.
- Increased use of renewable sources of energy: Renewable sources such as solar and wind power are becoming increasingly popular due to their environmental benefits. However, they often produce variable amounts of power which can be difficult to manage with traditional grid infrastructure alone. Electrochemical energy storage systems can help by storing excess renewable power until it is needed later on or by providing backup power during times when renewables are not available.
Scope Of The Report
Report Attributes
Report Details
Report Title
Electrochemical Energy Storage Market Research Report
By Type
Liquid Flow, Lithium, Lead Acid, Other, Electrochemical Energy Storag
By Application
User Side, Grid Side, Renewable Energy Grid-Connected, Electrical Auxiliary Service, New Energy Vehicle, Other
By Companies
Tesla Motors, Greensmith Energy, S&C Electric Company, LG CNS, NEC Energy Solutions, Fluence Energy LLC, Advanced Microgrid Solutions, Convergent Energy and Power LP, Duke Energy Corporation, NextEra Energy, Zhejiang Narada Power Source, Shenzhen Clou Electronics, EVE Energy, Sungrow Power, Electrochemical Energy Storag
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
243
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global Electrochemical Energy Storage Market Report Segments:
The global Electrochemical Energy Storage market is segmented on the basis of:
Types
Liquid Flow, Lithium, Lead Acid, Other, Electrochemical Energy Storag
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
User Side, Grid Side, Renewable Energy Grid-Connected, Electrical Auxiliary Service, New Energy Vehicle, Other
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:
- Tesla Motors
- Greensmith Energy
- S&C Electric Company
- LG CNS
- NEC Energy Solutions
- Fluence Energy LLC
- Advanced Microgrid Solutions
- Convergent Energy and Power LP
- Duke Energy Corporation
- NextEra Energy
- Zhejiang Narada Power Source
- Shenzhen Clou Electronics
- EVE Energy
- Sungrow Power
- Electrochemical Energy Storag
Highlights of The Electrochemical Energy Storage 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:
- Liquid Flow
- Lithium
- Lead Acid
- Other
- Electrochemical Energy Storag
- By Application:
- User Side
- Grid Side
- Renewable Energy Grid-Connected
- Electrical Auxiliary Service
- New Energy Vehicle
- Other
- 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 Electrochemical Energy Storage 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
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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?
Electrochemical energy storage is a technology that uses the chemical potential of an electroactive material to store energy. The stored energy can be used to power devices, such as batteries or capacitors, when needed.
Some of the key players operating in the electrochemical energy storage market are Tesla Motors, Greensmith Energy, S&C Electric Company, LG CNS, NEC Energy Solutions, Fluence Energy LLC, Advanced Microgrid Solutions, Convergent Energy and Power LP, Duke Energy Corporation, NextEra Energy, Zhejiang Narada Power Source, Shenzhen Clou Electronics, EVE Energy, Sungrow Power, Electrochemical Energy Storag.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Electrochemical Energy Storage 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. Electrochemical Energy Storage Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Electrochemical Energy Storage Market - Supply Chain
4.5. Global Electrochemical Energy Storage Market Forecast
4.5.1. Electrochemical Energy Storage Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Electrochemical Energy Storage Market Size (000 Units) and Y-o-Y Growth
4.5.3. Electrochemical Energy Storage Market Absolute $ Opportunity
5. Global Electrochemical Energy Storage 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. Electrochemical Energy Storage Market Size and Volume Forecast by Type
5.3.1. Liquid Flow
5.3.2. Lithium
5.3.3. Lead Acid
5.3.4. Other
5.3.5. Electrochemical Energy Storag
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Electrochemical Energy Storage 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. Electrochemical Energy Storage Market Size and Volume Forecast by Application
6.3.1. User Side
6.3.2. Grid Side
6.3.3. Renewable Energy Grid-Connected
6.3.4. Electrical Auxiliary Service
6.3.5. New Energy Vehicle
6.3.6. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Electrochemical Energy Storage 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. Electrochemical Energy Storage 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 Electrochemical Energy Storage 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. Electrochemical Energy Storage 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 Electrochemical Energy Storage Demand Share Forecast, 2019-2026
9. North America Electrochemical Energy Storage 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 Electrochemical Energy Storage 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 Electrochemical Energy Storage Market Size and Volume Forecast by Application
9.4.1. User Side
9.4.2. Grid Side
9.4.3. Renewable Energy Grid-Connected
9.4.4. Electrical Auxiliary Service
9.4.5. New Energy Vehicle
9.4.6. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Electrochemical Energy Storage Market Size and Volume Forecast by Type
9.7.1. Liquid Flow
9.7.2. Lithium
9.7.3. Lead Acid
9.7.4. Other
9.7.5. Electrochemical Energy Storag
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 Electrochemical Energy Storage Demand Share Forecast, 2019-2026
10. Latin America Electrochemical Energy Storage 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 Electrochemical Energy Storage 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 Electrochemical Energy Storage Market Size and Volume Forecast by Application
10.4.1. User Side
10.4.2. Grid Side
10.4.3. Renewable Energy Grid-Connected
10.4.4. Electrical Auxiliary Service
10.4.5. New Energy Vehicle
10.4.6. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Electrochemical Energy Storage Market Size and Volume Forecast by Type
10.7.1. Liquid Flow
10.7.2. Lithium
10.7.3. Lead Acid
10.7.4. Other
10.7.5. Electrochemical Energy Storag
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 Electrochemical Energy Storage Demand Share Forecast, 2019-2026
11. Europe Electrochemical Energy Storage 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 Electrochemical Energy Storage 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 Electrochemical Energy Storage Market Size and Volume Forecast by Application
11.4.1. User Side
11.4.2. Grid Side
11.4.3. Renewable Energy Grid-Connected
11.4.4. Electrical Auxiliary Service
11.4.5. New Energy Vehicle
11.4.6. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Electrochemical Energy Storage Market Size and Volume Forecast by Type
11.7.1. Liquid Flow
11.7.2 Lithium
11.7.3. Lead Acid
11.7.4. Other
11.7.5. Electrochemical Energy Storag
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 Electrochemical Energy Storage Demand Share, 2019-2026
12. Asia Pacific Electrochemical Energy Storage 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 Electrochemical Energy Storage 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 Electrochemical Energy Storage Market Size and Volume Forecast by Application
12.4.1. User Side
12.4.2. Grid Side
12.4.3. Renewable Energy Grid-Connected
12.4.4. Electrical Auxiliary Service
12.4.5. New Energy Vehicle
12.4.6. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Electrochemical Energy Storage Market Size and Volume Forecast by Type
12.7.1. Liquid Flow
12.7.2. Lithium
12.7.3. Lead Acid
12.7.4. Other
12.7.5. Electrochemical Energy Storag
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 Electrochemical Energy Storage Demand Share, 2019-2026
13. Middle East & Africa Electrochemical Energy Storage 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 Electrochemical Energy Storage 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 Electrochemical Energy Storage Market Size and Volume Forecast by Application
13.4.1. User Side
13.4.2. Grid Side
13.4.3. Renewable Energy Grid-Connected
13.4.4. Electrical Auxiliary Service
13.4.5. New Energy Vehicle
13.4.6. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Electrochemical Energy Storage Market Size and Volume Forecast by Type
13.7.1. Liquid Flow
13.7.2. Lithium
13.7.3. Lead Acid
13.7.4. Other
13.7.5. Electrochemical Energy Storag
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 Electrochemical Energy Storage Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Electrochemical Energy Storage Market: Market Share Analysis
14.2. Electrochemical Energy Storage Distributors and Customers
14.3. Electrochemical Energy Storage Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Tesla Motors
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Greensmith Energy
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. S&C Electric Company
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. LG CNS
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. NEC Energy Solutions
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Fluence Energy LLC
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Advanced Microgrid Solutions
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Convergent Energy and Power LP
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Duke Energy Corporation
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. NextEra Energy
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Zhejiang Narada Power Source
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Shenzhen Clou Electronics
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. EVE Energy
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Sungrow Power
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Electrochemical Energy Storag
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
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
