Market Overview:
The global battery energy storage system (ESS) 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 global battery energy storage system (ESS) 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 deployment of renewable energy sources.
Product Definition:
A battery energy storage system (ESS) is a device that stores electrical energy in batteries for later use. Batteries can be used to store energy from renewable sources like solar and wind, or from traditional sources like the grid. Battery storage allows users to store surplus energy during periods of low demand and use it during periods of high demand, reducing the need for peaking power plants that only operate during times of peak demand. Battery storage also helps smooth out fluctuations in renewable electricity generation, making it more reliable and predictable.
Lithium:
Lithium is a light, silver-white metal that is highly reactive to the atmosphere. It has the highest electrochemical potential of all elements and this makes it an ideal choice for battery energy storage systems (BESS). The growth factor in the ESS market will be determined by two primary factors; firstly, current research & development activities in batteries and fuel cells along with future plans for commercialization of these technologies.
Lead Acid:
Lead acid is a chemical compound of lead and acid. Lead (Pb) and acid are both elements found in the earth's crust as well as being toxic to human health. Lead (Pb) is mainly extracted from ores by smelting, followed by leaching, refining, and purification processes. Owing to its economic benefits coupled with low environmental impact it has been widely used in various applications including batteries & fuel for vehicles over the past 100 years.
Application Insights:
The utility & commercial application segment accounted for the largest share of over 60% in 2017. The segment is projected to witness significant growth owing to rising demand from renewable sources, such as solar and wind energy. Increasing number of power outages and brownouts are also expected to drive the adoption of battery energy storage systems in utility & commercial applications.
The residential application segment was valued at USD 536 million in 2017 and is expected to grow at a CAGR exceeding 20% from 2018 to 2030. Rising awareness about cost-effective, clean electricity has been one of the major factors driving the demand for battery energy storage systems among residential consumers across North America and Europe. In addition, governments around the world are taking initiatives that favor mass adoption including feed-in tariff schemes that offer premium payments for producers who install renewable sources such as solar PV panels on homes or businesses (feed-in tariff can be compared with net metering).
Regional Analysis:
The Asia Pacific market is expected to grow at the highest CAGR over the forecast period owing to rapid development of renewable energy infrastructure. The growing penetration of solar panels in China and India for domestic consumption as well as for exports has resulted in a significant increase in battery capacity. This, in turn, is anticipated to drive demand over the next eight years.
Europe accounted for more than 25% of global revenue share by 2030 on account of rising demand from end-use industries such as transportation and communication that require long-term power storage solutions coupled with an increasing number of large scale projects across Germany, U.K., France and other countries within Europe region.
Growth Factors:
- Increasing demand for energy storage systems from the utility sector to store renewable energy generated from solar and wind power sources.
- Favorable government policies and regulations for battery energy storage systems, coupled with subsidies for end users, will drive market growth.
- Growing demand from the commercial and industrial sectors due to the need for backup power during outages and to reduce peak electricity costs.
- Advances in technology that have led to increased efficiency of battery storage systems will spur market growth over the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Battery Energy Storage System (ESS) Market Research Report
By Type
Lithium, Lead Acid, NaS, Others
By Application
Residential, Utility & Commercial
By Companies
Samsung SDI, LG Chem, Fluence, Hitachi, Kokam, LSIS, SMA Solar Technology, NGK, General Electric, Primus Power, Samsung SDI, BYD, Younicos, ABB, Saft, 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
128
Number of Tables & Figures
90
Customization Available
Yes, the report can be customized as per your need.
Global Battery Energy Storage System (ESS) Market Report Segments:
The global Battery Energy Storage System (ESS) 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
- Fluence
- Hitachi
- Kokam
- LSIS
- SMA Solar Technology
- NGK
- General Electric
- Primus Power
- Samsung SDI
- BYD
- Younicos
- ABB
- Saft
- Lockheed Martin Energy
- Eos Energy Storage
- Con Edison Solutions
Highlights of The Battery Energy Storage System (ESS) 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
- 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 Battery Energy Storage System (ESS) 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.
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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?
A battery energy storage system (ESS) is a type of energy storage system that uses batteries to store electrical energy. The stored electricity can be used to power electric devices when the batteries are discharged.
Some of the major players in the battery energy storage system (ess) market are Samsung SDI, LG Chem, Fluence, Hitachi, Kokam, LSIS, SMA Solar Technology, NGK, General Electric, Primus Power, Samsung SDI, BYD, Younicos, ABB, Saft, Lockheed Martin Energy, Eos Energy Storage, Con Edison Solutions.
The battery energy storage system (ess¯¼€° market is expected to grow at a compound annual growth rate of 23.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Battery Energy Storage System (ESS) 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 Battery Energy Storage System (ESS) Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Battery Energy Storage System (ESS) 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 Battery Energy Storage System (ESS) 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 Battery Energy Storage System (ESS) Market Size & Forecast, 2020-2028 4.5.1 Battery Energy Storage System (ESS) Market Size and Y-o-Y Growth 4.5.2 Battery Energy Storage System (ESS) 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
5.2.2 Lead Acid
5.2.3 NaS
5.2.4 Others
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 Residential
6.2.2 Utility & Commercial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Battery Energy Storage System (ESS) 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 Battery Energy Storage System (ESS) 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
9.6.2 Lead Acid
9.6.3 NaS
9.6.4 Others
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 Residential
9.10.2 Utility & Commercial
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
10.6.2 Lead Acid
10.6.3 NaS
10.6.4 Others
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 Residential
10.10.2 Utility & Commercial
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
11.6.2 Lead Acid
11.6.3 NaS
11.6.4 Others
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 Residential
11.10.2 Utility & Commercial
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
12.6.2 Lead Acid
12.6.3 NaS
12.6.4 Others
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 Residential
12.10.2 Utility & Commercial
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
13.6.2 Lead Acid
13.6.3 NaS
13.6.4 Others
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 Residential
13.10.2 Utility & Commercial
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 Battery Energy Storage System (ESS) Market: Competitive Dashboard
14.2 Global Battery Energy Storage System (ESS) Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Samsung SDI
14.3.2 LG Chem
14.3.3 Fluence
14.3.4 Hitachi
14.3.5 Kokam
14.3.6 LSIS
14.3.7 SMA Solar Technology
14.3.8 NGK
14.3.9 General Electric
14.3.10 Primus Power
14.3.11 Samsung SDI
14.3.12 BYD
14.3.13 Younicos
14.3.14 ABB
14.3.15 Saft
14.3.16 Lockheed Martin Energy
14.3.17 Eos Energy Storage
14.3.18 Con Edison Solutions