Market Overview:
The global energy storage devices market is expected to grow from USD 9.5 billion in 2018 to USD 28.8 billion by 2030, at a CAGR of 16.1% from 2018 to 2030. The growth of the global energy storage devices market can be attributed to the increasing demand for grid-connected and off-grid renewable energy systems, growing concerns over climate change and greenhouse gas emissions, and rising demand for electric vehicles (EVs). Based on type, the lead acid batteries segment is expected to account for the largest share of the global energy storage devices market in 2018. The large share of this segment can be attributed to its low cost and high reliability as compared with other types of batteries such as lithium ion batteries.
Product Definition:
Energy Storage Devices are used to store energy in a form that can be accessed when needed. This energy can come from renewable or non-renewable sources. The importance of Energy Storage Devices is that they allow for the use of renewable energy sources, like solar and wind power, which can fluctuate depending on weather conditions.
Lead Acid Batteries:
Lead acid batteries are the most commonly used type of battery in the world. They are inexpensive, easy to manufacture and have a long shelf life. Lead-acid batteries find application in various sectors including automotive, UPS (uninterruptible power supply), telecom & IT, industrial equipment and electric vehicles among others.
Lithium Batteries:
Lithium batteries are lightweight, rechargeable and have a high energy density. These properties make them suitable to be used in various applications including electric vehicles, grid storage and portable devices. The growing demand for renewable sources of energy is expected to boost the growth of lithium battery market over the forecast period.
Application Insights:
The grid electricity application segment led the global energy storage devices market in 2017 and is projected to witness significant growth over the forecast period. The growing need for peak demand reduction, increasing renewable generation, and improving power distribution infrastructure are some of the key factors driving this segment.
The home energy storage segment is also expected to register a notable CAGR during the forecast period owing to rising awareness about cost-effective solutions for managing household electricity costs as well as environmental benefits associated with increased usage of clean sources such as solar photovoltaic systems. In addition, favorable government policies regarding feed-in tariffs are further anticipated to drive investments in residential battery systems over the coming years.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to increasing investments in renewable energy, which has led to an increase in battery storage systems. For instance, China Energy Group and China General Nuclear Power Corp., are collaborating with France's Alstom for developing a smart grid based on batteries and solar panels. Such collaborations are anticipated to drive the market across Asia Pacific region.
Europe accounted for more than 25% of global revenue share in 2016 owing to early adoption of energy storage devices across various applications such as home power generation, transport,.
Growth Factors:
- Increasing demand for energy storage devices from the transportation and grid sectors to store renewable energy
- Favorable government policies and regulations for the deployment of energy storage systems
- Growing demand for smart grids and microgrids that use energy storage devices to improve power quality, reliability, and efficiency
- Rising concerns over climate change and air pollution, which is driving investments in renewable energy sources
- Advances in technology that are making energy storage devices more efficient, reliable, and affordable
Scope Of The Report
Report Attributes
Report Details
Report Title
Energy Storage Devices Market Research Report
By Type
Lead Acid Batteries, Lithium Batteries
By Application
Home Energy Storage, Grid Electricity, Transport and Automotive, Electronics, Others
By Companies
EATON, Vertiv, Schneider-Electric, ABB, Toshiba, AMETEK, Tripp Lite, AEG, Socomec
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
191
Number of Tables & Figures
134
Customization Available
Yes, the report can be customized as per your need.
Global Energy Storage Devices Market Report Segments:
The global Energy Storage Devices market is segmented on the basis of:
Types
Lead Acid Batteries, Lithium 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
Home Energy Storage, Grid Electricity, Transport and Automotive, Electronics, 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:
- EATON
- Vertiv
- Schneider-Electric
- ABB
- Toshiba
- AMETEK
- Tripp Lite
- AEG
- Socomec
Highlights of The Energy Storage Devices 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:
- Lead Acid Batteries
- Lithium Batteries
- By Application:
- Home Energy Storage
- Grid Electricity
- Transport and Automotive
- Electronics
- 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 Energy Storage Devices 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
Frequently Asked Questions?
Energy storage devices are a type of technology that can be used to store energy. This can be done in a number of ways, including using batteries, capacitors, or supercapacitors. When the energy is needed, it can be released quickly and easily.
Some of the major players in the energy storage devices market are EATON, Vertiv, Schneider-Electric, ABB, Toshiba, AMETEK, Tripp Lite, AEG, Socomec.
The energy storage devices market is expected to register a CAGR of 16.1%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Energy Storage Devices 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 Energy Storage Devices Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Energy Storage Devices 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 Energy Storage Devices 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 Energy Storage Devices Market Size & Forecast, 2018-2028
4.5.1 Energy Storage Devices Market Size and Y-o-Y Growth
4.5.2 Energy Storage Devices Market Absolute $ Opportunity
Chapter 5 Global Energy Storage Devices 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 Energy Storage Devices Market Size Forecast by Type
5.2.1 Lead Acid Batteries
5.2.2 Lithium Batteries
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Energy Storage Devices 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 Energy Storage Devices Market Size Forecast by Applications
6.2.1 Home Energy Storage
6.2.2 Grid Electricity
6.2.3 Transport and Automotive
6.2.4 Electronics
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Energy Storage Devices 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 Energy Storage Devices 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 Energy Storage Devices Analysis and Forecast
9.1 Introduction
9.2 North America Energy Storage Devices 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 Energy Storage Devices Market Size Forecast by Type
9.6.1 Lead Acid Batteries
9.6.2 Lithium 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 Energy Storage Devices Market Size Forecast by Applications
9.10.1 Home Energy Storage
9.10.2 Grid Electricity
9.10.3 Transport and Automotive
9.10.4 Electronics
9.10.5 Others
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 Energy Storage Devices Analysis and Forecast
10.1 Introduction
10.2 Europe Energy Storage Devices 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 Energy Storage Devices Market Size Forecast by Type
10.6.1 Lead Acid Batteries
10.6.2 Lithium 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 Energy Storage Devices Market Size Forecast by Applications
10.10.1 Home Energy Storage
10.10.2 Grid Electricity
10.10.3 Transport and Automotive
10.10.4 Electronics
10.10.5 Others
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 Energy Storage Devices Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Energy Storage Devices 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 Energy Storage Devices Market Size Forecast by Type
11.6.1 Lead Acid Batteries
11.6.2 Lithium 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 Energy Storage Devices Market Size Forecast by Applications
11.10.1 Home Energy Storage
11.10.2 Grid Electricity
11.10.3 Transport and Automotive
11.10.4 Electronics
11.10.5 Others
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 Energy Storage Devices Analysis and Forecast
12.1 Introduction
12.2 Latin America Energy Storage Devices 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 Energy Storage Devices Market Size Forecast by Type
12.6.1 Lead Acid Batteries
12.6.2 Lithium 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 Energy Storage Devices Market Size Forecast by Applications
12.10.1 Home Energy Storage
12.10.2 Grid Electricity
12.10.3 Transport and Automotive
12.10.4 Electronics
12.10.5 Others
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) Energy Storage Devices Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Energy Storage Devices 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) Energy Storage Devices Market Size Forecast by Type
13.6.1 Lead Acid Batteries
13.6.2 Lithium 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) Energy Storage Devices Market Size Forecast by Applications
13.10.1 Home Energy Storage
13.10.2 Grid Electricity
13.10.3 Transport and Automotive
13.10.4 Electronics
13.10.5 Others
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 Energy Storage Devices Market: Competitive Dashboard
14.2 Global Energy Storage Devices Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 EATON
14.3.2 Vertiv
14.3.3 Schneider-Electric
14.3.4 ABB
14.3.5 Toshiba
14.3.6 AMETEK
14.3.7 Tripp Lite
14.3.8 AEG
14.3.9 Socomec
