Market Overview:
The global grid energy storage systems 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 backup power and rising concerns about grid reliability. The global grid energy storage systems market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into lithium-ion battery, lead-acid battery, and others. Lithium-ion batteries are expected to account for a major share of the global grid energy storage systems market due to their high efficiency and long life cycle. On the basis of application, family backup power accounts for a major share of the global grid energy storage systems market followed by industrial UPS and unattended equipment applications.
Product Definition:
Grid energy storage systems are used to store energy generated from renewable sources for later use. These systems are important because they allow for the use of renewable energy even when the sun isn't shining or the wind isn't blowing.
Lithium-ion Battery:
Lithium-ion battery (LiB) is a rechargeable battery, which uses lithium ions as its basic component. It offers higher energy density than conventional batteries and has a high charging voltage. These properties make it useful in electric vehicles, grid storage systems and other applications where large storage capacity is required at the minimum cost.
Lead-acid Battery:
Lead-acid batteries are the most commonly used type of battery in grid energy storage systems. They have a high power to weight ratio, which makes them ideal for applications that require a large amount of energy in a short period. Lead-acid batteries can be recycled and reused, which reduces the environmental impact of their disposal.
Application Insights:
The global grid energy storage systems market has been segmented on the basis of application into family backup power, industrial UPS, unattended equipment and others. The family backup power segment accounted for the largest market share in 2017 and is projected to witness significant growth over the forecast period. This can be attributed to increasing number of solar photovoltaic installations in countries such as China, India and Australia owing to supportive government policies regarding adoption of renewable sources of energy.
The growing trend towards installation of residential solar panels across households in developed economies including Germany, UK and France is expected to drive demand for batteries as a secondary source during peak hours when PV generation meets with load demand from the grid.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to increasing demand for clean energy, which has led to a rise in investments in renewable power generation and battery storage systems across various countries such as China, Australia, Japan and South Korea. For instance, China’s 13th Five Year Plan (2016 - 2020) aims at reducing carbon emissions intensity by 60% by 2030.
North America accounted for 24% of global revenue share in 2017 on account of rising penetration rates of grid batteries with family units especially in U.S., Canada and Mexico due to increased need for reliable back up power supply during emergencies or blackouts caused by natural calamities or other reasons such as equipment failure etc.).
Growth Factors:
- Increasing demand for grid energy storage systems from the utility sector to store renewable energy
- Favorable government policies and regulations for grid energy storage systems
- Growing demand for microgrid and smart grid technologies
- Rising concerns over power outages and blackouts
- Advances in battery technology
Scope Of The Report
Report Attributes
Report Details
Report Title
Grid Energy Storage Systems Market Research Report
By Type
Lithium-ion Battery, Lead-acid Battery, Others
By Application
Family Backup Power, Industrial UPS, Unattended Equipment, Others
By Companies
EnerSys, SAFT, Sonnen, NEC Energy Solutions, Sumitomo Electric Industries, Fronius, LG Chem, Aquion Energy, Toshiba, Samsung SDI, Mitsubishi Heavy Industries, ZEN Energy, Enphase, CALB, Tianneng Battery
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
172
Number of Tables & Figures
121
Customization Available
Yes, the report can be customized as per your need.
Global Grid Energy Storage Systems Market Report Segments:
The global Grid Energy Storage Systems market is segmented on the basis of:
Types
Lithium-ion Battery, Lead-acid 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
Family Backup Power, Industrial UPS, Unattended Equipment, 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:
- EnerSys
- SAFT
- Sonnen
- NEC Energy Solutions
- Sumitomo Electric Industries
- Fronius
- LG Chem
- Aquion Energy
- Toshiba
- Samsung SDI
- Mitsubishi Heavy Industries
- ZEN Energy
- Enphase
- CALB
- Tianneng Battery
Highlights of The Grid Energy Storage Systems 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 Battery
- Lead-acid Battery
- Others
- By Application:
- Family Backup Power
- Industrial UPS
- Unattended Equipment
- 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 Grid Energy Storage Systems 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?
Grid energy storage systems are a type of renewable energy system that can be used to store solar or wind power for later use. Grid energy storage systems can also be used to help stabilize the electric grid.
Some of the key players operating in the grid energy storage systems market are EnerSys, SAFT, Sonnen, NEC Energy Solutions, Sumitomo Electric Industries, Fronius, LG Chem, Aquion Energy, Toshiba, Samsung SDI, Mitsubishi Heavy Industries, ZEN Energy, Enphase, CALB, Tianneng Battery.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Grid Energy Storage Systems 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 Grid Energy Storage Systems Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Grid Energy Storage Systems 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 Grid Energy Storage Systems 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 Grid Energy Storage Systems Market Size & Forecast, 2020-2028
4.5.1 Grid Energy Storage Systems Market Size and Y-o-Y Growth
4.5.2 Grid Energy Storage Systems 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 Battery
5.2.2 Lead-acid Battery
5.2.3 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 Family Backup Power
6.2.2 Industrial UPS
6.2.3 Unattended Equipment
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Grid Energy Storage Systems 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 Grid Energy Storage Systems 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 Battery
9.6.2 Lead-acid Battery
9.6.3 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 Family Backup Power
9.10.2 Industrial UPS
9.10.3 Unattended Equipment
9.10.4 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 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 Battery
10.6.2 Lead-acid Battery
10.6.3 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 Family Backup Power
10.10.2 Industrial UPS
10.10.3 Unattended Equipment
10.10.4 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 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 Battery
11.6.2 Lead-acid Battery
11.6.3 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 Family Backup Power
11.10.2 Industrial UPS
11.10.3 Unattended Equipment
11.10.4 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 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 Battery
12.6.2 Lead-acid Battery
12.6.3 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 Family Backup Power
12.10.2 Industrial UPS
12.10.3 Unattended Equipment
12.10.4 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) 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 Battery
13.6.2 Lead-acid Battery
13.6.3 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 Family Backup Power
13.10.2 Industrial UPS
13.10.3 Unattended Equipment
13.10.4 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 Grid Energy Storage Systems Market: Competitive Dashboard
14.2 Global Grid Energy Storage Systems Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 EnerSys
14.3.2 SAFT
14.3.3 Sonnen
14.3.4 NEC Energy Solutions
14.3.5 Sumitomo Electric Industries
14.3.6 Fronius
14.3.7 LG Chem
14.3.8 Aquion Energy
14.3.9 Toshiba
14.3.10 Samsung SDI
14.3.11 Mitsubishi Heavy Industries
14.3.12 ZEN Energy
14.3.13 Enphase
14.3.14 CALB
14.3.15 Tianneng Battery
