Global Battery Energy Storage Market by Type (Li-Ion Batteries, Lead-Acid Batteries, Sodium Sulfur Batteries), By Application (Residential, Non-Residential, Utilities, Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global battery energy storage market is expected to grow from USD 2.5 billion in 2018 to USD 11.9 billion by 2030, at a CAGR of 23.8% from 2018 to 2030. The growth of the battery energy storage market can be attributed to the increasing demand for grid-connected and off-grid applications, growing concerns over climate change and greenhouse gas emissions, and government initiatives toward the development of renewable energy sources. The Li-ion batteries segment is expected to hold the largest share of the global battery energy storage market in 2018.



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Product Definition:

A battery energy storage system (BESS) is a collection of batteries that store energy from renewable or other sources to provide power when needed. BESS systems are used for a variety of purposes, including grid stabilization, peak shaving, demand response and microgrid applications.

Li-Ion Batteries:

Li-Ion batteries are rechargeable batteries that use an electrolyte of lithium and ION (Imidazolium) compounds. These batteries find application in portable devices, electric vehicles, power tools, and other applications where a rechargeable battery is required.

Lead-Acid Batteries:

Lead-acid batteries are the most commonly used type of battery in the world. They are economical, have a high energy density and can be recycled. Lead-acid batteries find application in portable devices such as watches, clocks radios, calculators and flashlights which is expected to drive market growth over the forecast period.

Application Insights:

The utilities segment dominated the global battery energy storage market in 2017, accounting for a share of over 60.0% by revenue. The growth of the segment can be attributed to growing demand from commercial and industrial users as well as public infrastructure projects. For instance, Tesla¢â‚¬â„¢s Powerpack project is aimed at providing clean electricity in remote communities across Australia.

Non-residential applications include small & medium-sized businesses (SMBs) and large institutions that require a constant source of power for functioning equipment or electronic systems such as data centers, hospitals, telecom complexes etc., BES provides reliable power supply to these facilities thereby reducing their dependence on primary sources such as utility grids which increases resilience against natural disasters or human error during maintenance operations etc., Increasing non-residential usage is expected to drive demand over the forecast period thus fueling industry expansion further.

Regional Analysis:

The Asia Pacific market is expected to witness significant growth over the forecast period owing to increasing demand for battery energy storage systems from key end-use industries such as utilities, telecom, and others. The growing adoption of renewable energy coupled with the need for peak load management is anticipated to drive the regional market growth.

Increasing awareness regarding grid-scale batteries among customers has led major vendors in North America and Europe to increase their capacities significantly. For instance, in September 2016, Tesla Inc., a U.S.-based electric car manufacturer announced about entering into a partnership with Panasonic Corporation of Japan for producing large scale lithium-ion battery packs that can be used across different applications including residential and commercial establishments (Lilley et al., 2017). Such partnerships are likely to boost revenue generation capacity through joint ventures or acquisitions by these companies in near future which will further propel industry expansion over next eight years (2018– 2030).

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 battery energy storage systems, as they are used to store energy from charging stations.
Government initiatives and subsidies: Governments around the world are promoting the use of battery energy storage systems through various incentives and subsidies. This is expected to drive the growth of this market in the 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. This is likely to boost demand for battery energy storage systems in the near future.


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Scope Of The Report
Report Attributes
Report Details
Report Title
Battery Energy Storage Market Research Report
By Type
Li-Ion Batteries, Lead-Acid Batteries, Sodium Sulfur Batteries
By Application
Residential, Non-Residential, Utilities, Others
By Companies
Siemens, ABB, Samsung SDI, Bosch, BYD, Siemens
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
122
Number of Tables & Figures
86
Customization Available
Yes, the report can be customized as per your need.

Global Battery Energy Storage Market Report Segments:
The global Battery Energy Storage market is segmented on the basis of:
Types
Li-Ion Batteries, Lead-Acid Batteries, Sodium Sulfur 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
Residential, Non-Residential, Utilities, Others
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:
Siemens
ABB
Samsung SDI
Bosch
BYD
Siemens



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Highlights of The Battery 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:
Li-Ion Batteries
Lead-Acid Batteries
Sodium Sulfur Batteries
By Application:
Residential
Non-Residential
Utilities
Others
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 Battery 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
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

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