Market Overview:
The global energy storage for renewables integration market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for renewable energy sources and the need for grid stabilization. The global energy storage for renewables integration market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into Li-ion battery, lead acid battery, and others. The Li-ion battery segment is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. This growth can be attributed to its high efficiency and long life cycle. On the basis of application,the market is divided into multiple renewable energy resources and single renewable energy resource applications. The multiple renewable energy resources application segment dominates this market with a shareofXX%.
Product Definition:
Energy storage is the ability to store energy in a form that allows it to be used at a later time. The most common type of energy storage is electricity, but other forms of energy such as mechanical or chemical can also be stored. Energy storage is important for renewables integration because it allows renewable sources like solar and wind to provide power when the sun isn't shining or the wind isn't blowing. This helps reduce the need for traditional backup generators that use fossil fuels, which can help reduce emissions and save money on electricity costs.
Li-ion Battery:
A Li-ion battery is a type of rechargeable battery that uses lithium ions as the active material. The design of a typical Li-ion battery consists of anode, cathode, separator and electrolyte in the form of gel or liquid. These batteries are used in numerous applications including consumer electronics products such as smartphones and tablets; electric vehicles (EVs), power tools for industrial applications; portable instruments such as digital cameras, GPS units and medical equipment among others.
Lead Acid Battery:
Lead acid batteries are the most commonly used type of battery in the world. They are inexpensive, easy to manufacture and have a high energy density. Lead acid batteries find application in various sectors including automotive, UPS (uninterruptible power supply), telecom & IT, industrial applications and consumer electronics among others.
Application Insights:
The multiple renewable energy resources application segment dominated the global energy storage for renewables integration market in 2017. The growth of this segment can be attributed to the growing number of utility-scale solar and wind power projects across various regions, including North America and Europe.
The single renewable energy resource application segment is expected to witness significant growth over the forecast period owing to increasing investments in large-scale solar PV plants in China, India, Mexico and U.S., coupled with rising demand for electricity generated from photovoltaic (PV) panels across both residential as well as commercial sectors. This has resulted in an increased need for long-term stable & secure power supply solutions that can cater to peak shaving requirements along with providing back up power when needed most thereby driving demand over the forecast period.
Regional Analysis:
Asia Pacific regional market accounted for the largest share of global energy storage for renewable integration and is expected to witness significant growth over the forecast period. The region has witnessed a growing penetration of solar PV systems, which has resulted in an increased need for battery back-up systems. This trend is projected to continue over the next eight years, thereby driving industry growth in Asia Pacific region.
Europe also held a substantial share in terms of revenue generation owing to its well-established power sector coupled with rising investments towards deployment of clean energy sources such as wind and solar power generation technologies across several countries including Germany, Spain, Italy and U.K., among others). These factors are anticipated to drive industry expansion over the coming years.
North America was one among major regions that contributed significantly toward market development owing to early adoption of various advanced technologies across different sectors such as aerospace & defense (solar), automotive (batteries) etc.).
Growth Factors:
- Increasing demand for renewable energy sources: The growth of the renewable energy sector is one of the key drivers for the growth of the energy storage market. Renewables such as solar and wind are intermittent in nature and require storage to ensure a reliable and consistent supply of power.
- Declining costs of battery technology: The cost of batteries has been declining rapidly in recent years, making them more affordable for large-scale deployment. This is likely to be a key driver for the growth of the energy storage market in coming years.
- Regulatory mandates and incentives: Governments around the world are increasingly implementing regulations and incentives to promote renewables integration and energy storage technologies. This is likely to drive significant growth in this market over the next few years.
Scope Of The Report
Report Attributes
Report Details
Report Title
Energy Storage for Renewables Integration Market Research Report
By Type
Li-ion Battery, Lead Acid Battery, Others
By Application
Multiple Renewable Energy Resources, Single Renewable Energy Resource
By Companies
ABB, East Penn Manufacturing, LG Chem, Robert Bosch, Beacon Power, BYD, Exide Technologies, General Electric, Samsung SDI, Kokam, Fluence Energy, Lockheed Martin Energy, Eos Energy Storage, Con Edison Solutions, Hitachi, SMA Solar Technology, NGK, NEC
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 Energy Storage for Renewables Integration Market Report Segments:
The global Energy Storage for Renewables Integration market is segmented on the basis of:
Types
Li-ion Battery, Lead Acid Battery, 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
Multiple Renewable Energy Resources, Single Renewable Energy Resource
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:
- ABB
- East Penn Manufacturing
- LG Chem
- Robert Bosch
- Beacon Power
- BYD
- Exide Technologies
- General Electric
- Samsung SDI
- Kokam
- Fluence Energy
- Lockheed Martin Energy
- Eos Energy Storage
- Con Edison Solutions
- Hitachi
- SMA Solar Technology
- NGK
- NEC
Highlights of The Energy Storage for Renewables Integration 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:
- Li-ion Battery
- Lead Acid Battery
- Others
- By Application:
- Multiple Renewable Energy Resources
- Single Renewable Energy Resource
- 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 Energy Storage for Renewables Integration 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
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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?
Energy storage for renewables integration is a technology that helps to smooth out the variability of renewable energy sources, such as solar and wind. This can help to reduce the need for backup power from fossil fuels, which can be costly and environmentally harmful. Energy storage also allows intermittent sources of energy like solar and wind to be used more effectively by providing a consistent flow of electricity when needed.
Some of the major companies in the energy storage for renewables integration market are ABB, East Penn Manufacturing, LG Chem, Robert Bosch, Beacon Power, BYD, Exide Technologies, General Electric, Samsung SDI, Kokam, Fluence Energy, Lockheed Martin Energy, Eos Energy Storage, Con Edison Solutions, Hitachi, SMA Solar Technology, NGK, NEC.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Energy Storage for Renewables Integration 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. Energy Storage for Renewables Integration Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Energy Storage for Renewables Integration Market - Supply Chain
4.5. Global Energy Storage for Renewables Integration Market Forecast
4.5.1. Energy Storage for Renewables Integration Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Energy Storage for Renewables Integration Market Size (000 Units) and Y-o-Y Growth
4.5.3. Energy Storage for Renewables Integration Market Absolute $ Opportunity
5. Global Energy Storage for Renewables Integration 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. Energy Storage for Renewables Integration Market Size and Volume Forecast by Type
5.3.1. Li-ion Battery
5.3.2. Lead Acid Battery
5.3.3. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Energy Storage for Renewables Integration 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. Energy Storage for Renewables Integration Market Size and Volume Forecast by Application
6.3.1. Multiple Renewable Energy Resources
6.3.2. Single Renewable Energy Resource
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Energy Storage for Renewables Integration 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. Energy Storage for Renewables Integration 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 Energy Storage for Renewables Integration 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. Energy Storage for Renewables Integration 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 Energy Storage for Renewables Integration Demand Share Forecast, 2019-2026
9. North America Energy Storage for Renewables Integration 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 Energy Storage for Renewables Integration 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 Energy Storage for Renewables Integration Market Size and Volume Forecast by Application
9.4.1. Multiple Renewable Energy Resources
9.4.2. Single Renewable Energy Resource
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Energy Storage for Renewables Integration Market Size and Volume Forecast by Type
9.7.1. Li-ion Battery
9.7.2. Lead Acid Battery
9.7.3. 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 Energy Storage for Renewables Integration Demand Share Forecast, 2019-2026
10. Latin America Energy Storage for Renewables Integration 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 Energy Storage for Renewables Integration 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 Energy Storage for Renewables Integration Market Size and Volume Forecast by Application
10.4.1. Multiple Renewable Energy Resources
10.4.2. Single Renewable Energy Resource
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Energy Storage for Renewables Integration Market Size and Volume Forecast by Type
10.7.1. Li-ion Battery
10.7.2. Lead Acid Battery
10.7.3. 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 Energy Storage for Renewables Integration Demand Share Forecast, 2019-2026
11. Europe Energy Storage for Renewables Integration 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 Energy Storage for Renewables Integration 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 Energy Storage for Renewables Integration Market Size and Volume Forecast by Application
11.4.1. Multiple Renewable Energy Resources
11.4.2. Single Renewable Energy Resource
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Energy Storage for Renewables Integration Market Size and Volume Frecast by Type
11.7.1. Li-ion Battery
11.7.2. Lead Acid Battery
11.7.3. 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 Energy Storage for Renewables Integration Demand Share, 2019-2026
12. Asia Pacific Energy Storage for Renewables Integration 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 Energy Storage for Renewables Integration 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 Energy Storage for Renewables Integration Market Size and Volume Forecast by Application
12.4.1. Multiple Renewable Energy Resources
12.4.2. Single Renewable Energy Resource
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Energy Storage for Renewables Integration Market Size and Volume Forecast by Type
12.7.1. Li-ion Battery
12.7.2. Lead Acid Battery
12.7.3. 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 Energy Storage for Renewables Integration Demand Share, 2019-2026
13. Middle East & Africa Energy Storage for Renewables Integration 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 Energy Storage for Renewables Integration 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 Energy Storage for Renewables Integration Market Size and Volume Forecast by Application
13.4.1. Multiple Renewable Energy Resources
13.4.2. Single Renewable Energy Resource
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Energy Storage for Renewables Integration Market Size and Volume Forecast by Type
13.7.1. Li-ion Battery
13.7.2. Lead Acid Battery
13.7.3. 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 Energy Storage for Renewables Integration Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Energy Storage for Renewables Integration Market: Market Share Analysis
14.2. Energy Storage for Renewables Integration Distributors and Customers
14.3. Energy Storage for Renewables Integration Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. ABB
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. East Penn Manufacturing
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. LG Chem
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Robert Bosch
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Beacon Power
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. BYD
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Exide Technologies
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. General Electric
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Samsung SDI
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Kokam
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Fluence Energy
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Lockheed Martin Energy
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Eos Energy Storage
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Con Edison Solutions
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Hitachi
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. SMA Solar Technology
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. NGK
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. NEC
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
