Market Overview:
The global large-scale energy storage market is expected to grow from USD 2.02 Billion in 2018 to USD 10.88 Billion by 2030, at a CAGR of 23.5% from 2018 to 2030. The growth of the global large-scale energy storage market can be attributed to the increasing demand for grid-connected and off-grid renewable energy sources, growing concerns over climate change and greenhouse gas emissions, and government initiatives toward the deployment of large-scale energy storage systems. The lithium ion battery segment is expected to hold the largest share of the global large scale energy storage market in 2018.
Product Definition:
Large-scale energy storage is the use of large physical systems to store energy, either through electrical power or heat. These systems can be used to smooth out fluctuations in electricity generation, provide backup power in case of emergencies, and enable the integration of more renewable energy sources into the grid.
Lithium-ion Battery:
Lithium-ion battery (Li-ion) is a rechargeable battery that uses lithium ions as the basic ingredient. It is extensively used in portable electronic devices such as smartphones, tablets, and laptops. The growing demand for renewable energy sources along with the need to store power for later use has led to an increase in research & development activities related to Li-ion batteries over the past few years.
Lead-acid Battery:
Lead-acid batteries are the most commonly used type of battery in large-scale energy storage systems. They are economical, have a high energy density and can be recycled. Moreover, they provide reliable power supply to start up various types of vehicles such as automobiles and electric vehicles. Lead-acid batteries find their application in various sectors including automotive, UPS (uninterruptible power supply), industrial applications and solar among others where they serve as a primary source of electricity for operations.
Application Insights:
The utilities segment accounted for the largest share of over 70% in 2017. The large-scale storage projects are widely adopted by the utilities to manage peak demand as they have a significant impact on reducing the load factor and price volatility.
The communications application is projected to be one of the fastest-growing segments, with a CAGR exceeding 10% from 2018 to 2030 owing to its constant need for renewable energy sources such as wind and solar rays. Large-scale energy storage helps in smoothening out power supply when there is excess generation from renewable sources, thereby helping in avoiding curtailments or load Shedding (the practice of sending extra electricity generated power stations).
Regional Analysis:
Asia Pacific is expected to be the largest market for large-scale energy storage systems over the forecast period owing to increasing demand from industrial, commercial and residential sectors. The region accounted for a share of more than 30% in 2016 and is anticipated to grow at a CAGR of XX% from 2017 to 2030. This can be attributed to growing penetration of renewable based power generation facilities in China, India, South Korea, Japan among other countries which require huge battery banks for back up purposes.
Europe was one of the prominent markets with Germany being its major contributor accounting for around 25%of total installations across the globe in 2016 as compared with China's 18%. However after Brexit vote where people rejected EU membership agreement supported by 52%of British electorate thus creating uncertainty regarding future trade agreements between U.
Growth Factors:
- Increasing demand for energy storage from the utility sector to store renewable energy
- Favorable government policies and regulations for large-scale energy storage systems
- Growing demand from commercial and industrial sectors for peak shaving, load balancing, and backup power applications
- Advances in technology that have led to the development of more efficient and cost-effective storage solutions
- Rising awareness about the benefits of large-scale energy storage among businesses and consumers
Scope Of The Report
Report Attributes
Report Details
Report Title
Large-Scale Energy Storage Market Research Report
By Type
Lithium-ion Battery, Lead-acid Battery, Others
By Application
Utilities, Communications, 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
190
Number of Tables & Figures
133
Customization Available
Yes, the report can be customized as per your need.
Global Large-Scale Energy Storage Market Report Segments:
The global Large-Scale Energy Storage 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
Utilities, Communications, 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 Large-Scale 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:
- Lithium-ion Battery
- Lead-acid Battery
- Others
- By Application:
- Utilities
- Communications
- 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 Large-Scale 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
Frequently Asked Questions?
Large-scale energy storage is a technology that allows for the temporary or long-term storage of energy. This can be done in a variety of ways, including using batteries, pumped hydroelectricity, and solar thermal.
Some of the major players in the large-scale energy storage 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.
The large-scale energy storage market is expected to grow at a compound annual growth rate of 23.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Large-Scale Energy Storage 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 Large-Scale Energy Storage Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Large-Scale Energy Storage 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 Large-Scale Energy Storage 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 Large-Scale Energy Storage Market Size & Forecast, 2018-2028
4.5.1 Large-Scale Energy Storage Market Size and Y-o-Y Growth
4.5.2 Large-Scale Energy Storage Market Absolute $ Opportunity
Chapter 5 Global Large-Scale Energy Storage 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 Large-Scale Energy Storage 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 Large-Scale Energy Storage 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 Large-Scale Energy Storage Market Size Forecast by Applications
6.2.1 Utilities
6.2.2 Communications
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Large-Scale Energy Storage 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 Large-Scale Energy Storage 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 Large-Scale Energy Storage Analysis and Forecast
9.1 Introduction
9.2 North America Large-Scale Energy Storage 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 Large-Scale Energy Storage 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 Large-Scale Energy Storage Market Size Forecast by Applications
9.10.1 Utilities
9.10.2 Communications
9.10.3 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 Large-Scale Energy Storage Analysis and Forecast
10.1 Introduction
10.2 Europe Large-Scale Energy Storage 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 Large-Scale Energy Storage 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 Large-Scale Energy Storage Market Size Forecast by Applications
10.10.1 Utilities
10.10.2 Communications
10.10.3 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 Large-Scale Energy Storage Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Large-Scale Energy Storage 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 Large-Scale Energy Storage 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 Large-Scale Energy Storage Market Size Forecast by Applications
11.10.1 Utilities
11.10.2 Communications
11.10.3 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 Large-Scale Energy Storage Analysis and Forecast
12.1 Introduction
12.2 Latin America Large-Scale Energy Storage 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 Large-Scale Energy Storage 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 Large-Scale Energy Storage Market Size Forecast by Applications
12.10.1 Utilities
12.10.2 Communications
12.10.3 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) Large-Scale Energy Storage Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Large-Scale Energy Storage 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) Large-Scale Energy Storage 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) Large-Scale Energy Storage Market Size Forecast by Applications
13.10.1 Utilities
13.10.2 Communications
13.10.3 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 Large-Scale Energy Storage Market: Competitive Dashboard
14.2 Global Large-Scale Energy Storage 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
