Market Overview:
The global advance energy storage and fuel cell 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 electric vehicles and renewable energy sources. Additionally, the advancement in technology has led to the development of new types of batteries such as lithium ion batteries, flow batteries, molten salt batteries, metal air batteries and ultra-batteries which are further aiding in the growth of this market. The automotive segment is expected to hold a major share in terms of revenue contribution followed by consumer electronics and grid storage & distribution segments respectively during the forecast period. However, Asia Pacific is anticipated to witness highest CAGR over 2018-2030 owing growing demand for electric vehicles and renewable energy sources in countries such as China and Japan.
Product Definition:
Advanced energy storage and fuel cells are devices that can store or generate electrical energy. They are important because they can help to reduce emissions from electricity generation and improve the reliability of the grid.
Lithium Ion Batteries:
Lithium ion batteries (Li-ion) are commonly used for commercial and industrial applications. They are rechargeable batteries, which have a higher energy density as compared to other battery types such as lead acid or nickel metal hydride. Lithium ion is the lightest of all metals, has the greatest electrochemical potential among all chemical compounds and provides highest energy densities in its solid state.
Flow Batteries:
Flow batteries are rechargeable batteries that use a liquid electrolyte as the conducting medium between the positive and negative electrodes. Flow battery systems have higher energy density, better cycle efficiency, and lower maintenance costs than conventional batteries. The operational lifetime of a flow battery is dependent on its usage; for instance, if it is used to power an electric vehicle then it should last long enough for when the fuel runs out.
Application Insights:
The automotive segment is expected to emerge as the fastest-growing application segment over the forecast period owing to increasing demand for fuel cell vehicles. The growing need for electric vehicles in countries such as Japan and China is expected to drive this growth. In addition, governments are investing heavily in R&D pertaining to FCEVs which would further propel market growth over the coming years.
Grid storage and distribution application accounted for a significant share of 22% in 2017 due to rising deployment of energy storage systems along with solar PV systems across various regions on account of benefits such as cost reduction, increased power quality, enhanced grid reliability and security along with metering infrastructure support that can be utilized by fuel cell vehicle owners or users who require short-term power generation services. Increasing number of renewable energy projects coupled with government initiatives regarding promoting investments particularly from China are anticipated to augment market penetration over the coming years.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing market over the forecast period owing to rapid developments in end-use industries, such as consumer electronics and automotive. The region accounted for a revenue share of over 35% in 2017 and is anticipated to continue its dominance till 2030.
The growing adoption of electric vehicles across China, India, Japan and South Korea has resulted in increased demand for advanced energy storage systems that can provide power when needed along with sufficient energy capacity for sudden peak demands. This factor will further boost the growth of fuel cell installations at industrial facilities, commercial buildings & hotels among others.
North America was estimated as one of the largest markets with a revenue share exceeding 20% in 2017 owing to high investments deployed by industry players towards research & development activities coupled with government funding aimed at reducing carbon emissions from fossil fuels used for electricity generation thereby promoting FCEVs deployment across this region. In addition, favorable policies framed by U.S.
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 advanced energy storage and fuel cells systems, as they are used to power these vehicles.
- Proliferation of renewable energy sources: Renewable energy sources such as solar and wind are becoming increasingly popular due to their environmental benefits and declining costs. This is leading to an increase in the demand for storage solutions that can help store this energy efficiently.
- Stringent emissions regulations: Governments around the world are implementing stringent emissions regulations in a bid to reduce air pollution levels. This is driving the adoption of advanced energy storage and fuel cell technologies, which offer low emissions levels compared to traditional technologies such as diesel generators or petrol engines .
Scope Of The Report
Report Attributes
Report Details
Report Title
Advance Energy Storage and Fuel Cell Market Research Report
By Type
Lithium Ion Batteries, Flow Batteries, Molten Salt Batteries, Metal Air Batteries, Ultra Batteries
By Application
Consumer Electronics, Automotive, Grid Storage and Distribution
By Companies
Panasonic, LG Chem, Samsung SDI, NGK Insulators, SAFT Batteries, GS Yuasa, Shenzhen BAK Technology, Sumitomo Electric
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
239
Number of Tables & Figures
168
Customization Available
Yes, the report can be customized as per your need.
Global Advance Energy Storage and Fuel Cell Market Report Segments:
The global Advance Energy Storage and Fuel Cell market is segmented on the basis of:
Types
Lithium Ion Batteries, Flow Batteries, Molten Salt Batteries, Metal Air Batteries, Ultra Batteries
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
Consumer Electronics, Automotive, Grid Storage and Distribution
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:
- Panasonic
- LG Chem
- Samsung SDI
- NGK Insulators
- SAFT Batteries
- GS Yuasa
- Shenzhen BAK Technology
- Sumitomo Electric
Highlights of The Advance Energy Storage and Fuel Cell 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:
- Lithium Ion Batteries
- Flow Batteries
- Molten Salt Batteries
- Metal Air Batteries
- Ultra Batteries
- By Application:
- Consumer Electronics
- Automotive
- Grid Storage and Distribution
- 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 Advance Energy Storage and Fuel Cell 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
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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?
Advance Energy Storage and Fuel Cell is a company that manufactures energy storage products, including batteries, fuel cells, and solar panels. The company also provides consulting services to businesses and governments on energy efficiency.
Some of the major players in the advance energy storage and fuel cell market are Panasonic, LG Chem, Samsung SDI, NGK Insulators, SAFT Batteries, GS Yuasa, Shenzhen BAK Technology, Sumitomo Electric.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Advance Energy Storage and Fuel Cell Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Advance Energy Storage and Fuel Cell Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Advance Energy Storage and Fuel Cell Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Advance Energy Storage and Fuel Cell Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Advance Energy Storage and Fuel Cell Market Size & Forecast, 2020-2028 4.5.1 Advance Energy Storage and Fuel Cell Market Size and Y-o-Y Growth 4.5.2 Advance Energy Storage and Fuel Cell Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Lithium Ion Batteries
5.2.2 Flow Batteries
5.2.3 Molten Salt Batteries
5.2.4 Metal Air Batteries
5.2.5 Ultra Batteries
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Consumer Electronics
6.2.2 Automotive
6.2.3 Grid Storage and Distribution
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Advance Energy Storage and Fuel Cell Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Advance Energy Storage and Fuel Cell Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Lithium Ion Batteries
9.6.2 Flow Batteries
9.6.3 Molten Salt Batteries
9.6.4 Metal Air Batteries
9.6.5 Ultra Batteries
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Consumer Electronics
9.10.2 Automotive
9.10.3 Grid Storage and Distribution
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Lithium Ion Batteries
10.6.2 Flow Batteries
10.6.3 Molten Salt Batteries
10.6.4 Metal Air Batteries
10.6.5 Ultra Batteries
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Consumer Electronics
10.10.2 Automotive
10.10.3 Grid Storage and Distribution
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Lithium Ion Batteries
11.6.2 Flow Batteries
11.6.3 Molten Salt Batteries
11.6.4 Metal Air Batteries
11.6.5 Ultra Batteries
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Consumer Electronics
11.10.2 Automotive
11.10.3 Grid Storage and Distribution
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Lithium Ion Batteries
12.6.2 Flow Batteries
12.6.3 Molten Salt Batteries
12.6.4 Metal Air Batteries
12.6.5 Ultra Batteries
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Consumer Electronics
12.10.2 Automotive
12.10.3 Grid Storage and Distribution
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size 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 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Lithium Ion Batteries
13.6.2 Flow Batteries
13.6.3 Molten Salt Batteries
13.6.4 Metal Air Batteries
13.6.5 Ultra Batteries
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Consumer Electronics
13.10.2 Automotive
13.10.3 Grid Storage and Distribution
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Advance Energy Storage and Fuel Cell Market: Competitive Dashboard
14.2 Global Advance Energy Storage and Fuel Cell Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Panasonic
14.3.2 LG Chem
14.3.3 Samsung SDI
14.3.4 NGK Insulators
14.3.5 SAFT Batteries
14.3.6 GS Yuasa
14.3.7 Shenzhen BAK Technology
14.3.8 Sumitomo Electric