Global Electric Energy Storage Battery Market by Type (LiCoO2 Battery, NMC/NCA Battery, LiFePO4 Battery, Others), By Application (Residential, Commercial) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global electric energy storage battery market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for electric vehicles and the need for grid-scale energy storage. The LiCoO2 battery segment is expected to dominate the global electric energy storage battery market during the forecast period, owing to its high capacity and long life cycle. However, NMC/NCA batteries are expected to grow at a higher CAGR than other segments, as they are cheaper and have a longer life cycle than LiCoO2 batteries. In terms of application, residential applications are expected to account for the largest share of the global electric energy storage battery market during the forecast period. This can be attributed to rising electricity costs and government incentives for installing residential solar PV systems.



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Product Definition:

Electric energy storage battery is a device that stores electrical energy in the form of chemical energy. It is used to store and provide electric power. The importance of electric energy storage battery lies in its ability to store large amounts of electrical energy for later use.

LiCoO2 Battery:

LiCoO2 batteries are used in applications such as medical implants, wireless sensors, and portable devices. They have a wide range of potential uses in the electric energy storage battery market owing to their unique properties such as high-energy density and long life span.

The key driver for LiCoO2 batteries is their low cost when compared to other lithium-ion battery types.

NMC/NCA Battery:

NMC/NCA battery is a rechargeable zinc-carbon battery with high energy density. It has the ability to be recycled and recharged multiple times without any loss of capacity. NMC/NCA batteries are used in applications such as electric vehicles, power tools, portable devices, emergency lighting systems and communication equipment among others.

The global electric energy storage battery market size was valued at USD 11.5 billion in 2016.

Application Insights:

The commercial segment dominated the global market in 2017 and is expected to witness significant growth over the forecast period. Increasing number of power outages, load-shedding schemes, and brownouts are driving the demand for batteries in this segment. For instance, as per a blog by The Energy Storage Hunter, an energy storage company based in Australia, load-shedding scheme is likely to drive battery installations at hospitals and large industrial facilities first since these locations have peak demand during off-peak hours.

The residential application segment accounted for more than 40% share of total revenue in 2017 owing to growing concerns about grid stability issues due to rapid increases in electricity rates along with increasing government support towards installation of energy storage systems across various countries including Japan, South Korea China India etc. Various tax benefits offered by governments on installing solar PV panels or wind turbines are not available with respect to stationary batteries which may hinder its penetration rate but will eventually boost its adoption over next few years.

Regional Analysis:

The Asia Pacific regional market accounted for the largest revenue share in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing exponential growth in industrial, commercial, and residential sectors. Increasing demand from end-use industries such as manufacturing, electricity generation & distribution, transportation will drive the industry growth over the next eight years.

China is projected to be a key contributor towards global electric energy storage battery demand owing to increasing investments in renewable power generation coupled with growing penetration of electric vehicles in major cities across China.

North America was estimated at USD X million in 2017 and is expected to grow at a CAGR of XX% over the forecast period owing to increasing penetration of grid-scale batteries for peak shaving applications across U.S.

Growth Factors:

Increasing demand for electric vehicles: The global electric vehicle market is expected to grow at a CAGR of more than 20% during the forecast period. This would lead to an increase in the demand for electric energy storage batteries, as they are used to store energy in these vehicles.
Government initiatives and subsidies: Governments across the globe are promoting the use of electric vehicles by providing subsidies and incentives for their purchase and use. This is expected to drive the growth of the electric energy storage battery market during the forecast period.
Development of advanced technologies: The development of advanced technologies such as solid-state batteries is expected to fuel the growth oftheelectricenergystoragebatterymarketduringtheforecastperiod.Theseadvancedtechnologies offer high efficiency and longer life cycle than traditional lithium-ion batteries, which would lead to an increase in their adoption in various applications.


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Scope Of The Report
Report Attributes
Report Details
Report Title
Electric Energy Storage Battery Market Research Report
By Type
LiCoO2 Battery, NMC/NCA Battery, LiFePO4 Battery, Others
By Application
Residential, Commercial
By Companies
BYD, Kokam, LG Chem, Panasonic, Samsung SDI, Toshiba, NGK, NEC, MHI, Saft
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
159
Number of Tables & Figures
112
Customization Available
Yes, the report can be customized as per your need.

Global Electric Energy Storage Battery Market Report Segments:
The global Electric Energy Storage Battery market is segmented on the basis of:
Types
LiCoO2 Battery, NMC/NCA Battery, LiFePO4 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
Residential, 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:
BYD
Kokam
LG Chem
Panasonic
Samsung SDI
Toshiba
NGK
NEC
MHI
Saft



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Highlights of The Electric Energy Storage Battery 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:
LiCoO2 Battery
NMC/NCA Battery
LiFePO4 Battery
Others
By Application:
Residential
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 Electric Energy Storage Battery 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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