Market Overview:
The global long duration energy storage system market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for long duration energy storage systems from various applications, such as power plants, utility scale and others. In addition, the growing need for grid stability and renewable integration is also fueling the demand for long duration energy storage systems. The pumped storage segment is expected to dominate the global long duration energy storage system market during the forecast period. This can be attributed to its ability to provide high-capacity discharge over a longer time frame as compared with other types of long duration energy storage systems. The LAES segment is projected to grow at a highest CAGR during the forecast period owing to its advantages such as low environmental impact and modularity.
Product Definition:
A long duration energy storage system is a type of energy storage system that can store electrical energy for long periods of time, typically several hours or more. Long duration energy storage systems are important because they can help to improve the reliability and stability of the electrical grid, as well as provide backup power during emergencies.
Pumped Storage:
Pumped storage is a technique of using a gravity based system to store energy. It involves the use of one or more reservoirs, often created by damming a river or constructing a man-made lake. The water is held at an elevation and can be pumped from the lower reservoir to be stored in the upper reservoir creating pressure that drives turbines which generate electricity.
The amount of power generated depends on how much volume can be converted into useful energy.
LAES:
LAES (Long-Duration Energy Storage System) is a new technology that has been developed to overcome the limitations of traditional energy storage systems. The conventional energy storage systems have short duration and are based on chemical reactions. However, LAES stores energy in the form of waves in crystals for a long duration which can be used during peak hours to generate power as well as supply power when there is low demand for electricity.
Application Insights:
The power plant application segment accounted for the largest share of over 50% in 2017. The growth can be attributed to the growing need for long-term energy storage solutions as a result of rapid fluctuations in wind and solar power generation. Power plants are major consumers of electricity and hence require an ample amount of long duration energy storage systems to cater to their requirements.
Utility scale is expected to be the fastest-growing application segment owing to its ability supply continuous power during low-cost periods along with cost effectiveness, safety, ease of installation, and flexibility that it offers over other technologies such as pumped or thermal storage facilities. These systems are used by utility companies for peak shaving which involves shifting load from off-peak hours when prices are higher into onshore or offshore wind farms thereby reducing electricity costs at times when there is excess production capacity across different regions globally.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing market for global long duration energy storage system, registering a CAGR of XX% from 2018 to 2030. The growth in this region is mainly driven by China and Australia. In 2016, Asia Pacific accounted for approximately 44% of the total installed capacity and 52% of global demand for LESSS. Furthermore, Australia has approved several large scale projects which are likely to drive regional growth over the next few years.
The European Commission's initiative on Horizon 2020 Strategy aims at reducing carbon emissions through sustainable energy transition with emphasis on clean electricity generation sources along with supporting investments in R&D activities related to battery systems across Europe.
Growth Factors:
- Increasing demand for energy storage systems from the utility sector to store renewable energy
- Favorable government policies and regulations for the deployment of energy storage systems
- Growing demand for long duration energy storage systems from commercial and industrial sectors
- Technological advancements in long duration energy storage systems
- Rising awareness about the benefits of using long duration energy storage systems
Scope Of The Report
Report Attributes
Report Details
Report Title
Long Duration Energy Storage System Market Research Report
By Type
Pumped Storage, LAES, CAES, Molten Salt Energy Storage, Flow Batteries Energy Storage, Li-Ion Batteries Energy Storage, Power-to-Gas Technology, Others
By Application
Power Plant, Utility Scale, Others
By Companies
GE, ABB, Highview Power, Linde, Messer, Viridor, Heatric, Samsung SDI, Hitachi, Fluence Energy, LG Chem, Panasonic, MAN, ESS, Inc, Dalian Rongke Power, BYD, Saft Batteries, Lockheed Martin Energy, LSIS, Kokam, Atlas Copco, Cryostar, Chart, Aggreko, NGK, SMA Solar Technology, Primus Power
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
234
Number of Tables & Figures
164
Customization Available
Yes, the report can be customized as per your need.
Global Long Duration Energy Storage System Market Report Segments:
The global Long Duration Energy Storage System market is segmented on the basis of:
Types
Pumped Storage, LAES, CAES, Molten Salt Energy Storage, Flow Batteries Energy Storage, Li-Ion Batteries Energy Storage, Power-to-Gas Technology, 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
Power Plant, Utility Scale, 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:
- GE
- ABB
- Highview Power
- Linde
- Messer
- Viridor
- Heatric
- Samsung SDI
- Hitachi
- Fluence Energy
- LG Chem
- Panasonic
- MAN
- ESS, Inc
- Dalian Rongke Power
- BYD
- Saft Batteries
- Lockheed Martin Energy
- LSIS
- Kokam
- Atlas Copco
- Cryostar
- Chart
- Aggreko
- NGK
- SMA Solar Technology
- Primus Power
Highlights of The Long Duration Energy Storage System 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:
- Pumped Storage
- LAES
- CAES
- Molten Salt Energy Storage
- Flow Batteries Energy Storage
- Li-Ion Batteries Energy Storage
- Power-to-Gas Technology
- Others
- By Application:
- Power Plant
- Utility Scale
- 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 Long Duration Energy Storage System 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
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- Consumer Insights
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- Product & Brand Management
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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 long duration energy storage system (LDEBS) is a type of energy storage system that can store large amounts of electricity for periods of time ranging from minutes to months. LDEBS are typically used to provide backup power for critical infrastructure, such as hospitals and factories.
Some of the key players operating in the long duration energy storage system market are GE, ABB, Highview Power, Linde, Messer, Viridor, Heatric, Samsung SDI, Hitachi, Fluence Energy, LG Chem, Panasonic, MAN, ESS, Inc, Dalian Rongke Power, BYD, Saft Batteries, Lockheed Martin Energy, LSIS, Kokam, Atlas Copco, Cryostar, Chart, Aggreko, NGK, SMA Solar Technology, Primus Power.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Long Duration Energy Storage System 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 Long Duration Energy Storage System Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Long Duration Energy Storage System 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 Long Duration Energy Storage System 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 Long Duration Energy Storage System Market Size & Forecast, 2018-2028
4.5.1 Long Duration Energy Storage System Market Size and Y-o-Y Growth
4.5.2 Long Duration Energy Storage System Market Absolute $ Opportunity
Chapter 5 Global Long Duration Energy Storage System 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 Long Duration Energy Storage System Market Size Forecast by Type
5.2.1 Pumped Storage
5.2.2 LAES
5.2.3 CAES
5.2.4 Molten Salt Energy Storage
5.2.5 Flow Batteries Energy Storage
5.2.6 Li-Ion Batteries Energy Storage
5.2.7 Power-to-Gas Technology
5.2.8 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Long Duration Energy Storage System 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 Long Duration Energy Storage System Market Size Forecast by Applications
6.2.1 Power Plant
6.2.2 Utility Scale
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Long Duration Energy Storage System 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 Long Duration Energy Storage System 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 Long Duration Energy Storage System Analysis and Forecast
9.1 Introduction
9.2 North America Long Duration Energy Storage System 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 Long Duration Energy Storage System Market Size Forecast by Type
9.6.1 Pumped Storage
9.6.2 LAES
9.6.3 CAES
9.6.4 Molten Salt Energy Storage
9.6.5 Flow Batteries Energy Storage
9.6.6 Li-Ion Batteries Energy Storage
9.6.7 Power-to-Gas Technology
9.6.8 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 Long Duration Energy Storage System Market Size Forecast by Applications
9.10.1 Power Plant
9.10.2 Utility Scale
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 Long Duration Energy Storage System Analysis and Forecast
10.1 Introduction
10.2 Europe Long Duration Energy Storage System 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 Long Duration Energy Storage System Market Size Forecast by Type
10.6.1 Pumped Storage
10.6.2 LAES
10.6.3 CAES
10.6.4 Molten Salt Energy Storage
10.6.5 Flow Batteries Energy Storage
10.6.6 Li-Ion Batteries Energy Storage
10.6.7 Power-to-Gas Technology
10.6.8 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 Long Duration Energy Storage System Market Size Forecast by Applications
10.10.1 Power Plant
10.10.2 Utility Scale
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 Long Duration Energy Storage System Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Long Duration Energy Storage System 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 Long Duration Energy Storage System Market Size Forecast by Type
11.6.1 Pumped Storage
11.6.2 LAES
11.6.3 CAES
11.6.4 Molten Salt Energy Storage
11.6.5 Flow Batteries Energy Storage
11.6.6 Li-Ion Batteries Energy Storage
11.6.7 Power-to-Gas Technology
11.6.8 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 Long Duration Energy Storage System Market Size Forecast by Applications
11.10.1 Power Plant
11.10.2 Utility Scale
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 Long Duration Energy Storage System Analysis and Forecast
12.1 Introduction
12.2 Latin America Long Duration Energy Storage System 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 Long Duration Energy Storage System Market Size Forecast by Type
12.6.1 Pumped Storage
12.6.2 LAES
12.6.3 CAES
12.6.4 Molten Salt Energy Storage
12.6.5 Flow Batteries Energy Storage
12.6.6 Li-Ion Batteries Energy Storage
12.6.7 Power-to-Gas Technology
12.6.8 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 Long Duration Energy Storage System Market Size Forecast by Applications
12.10.1 Power Plant
12.10.2 Utility Scale
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) Long Duration Energy Storage System Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Long Duration Energy Storage System 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) Long Duration Energy Storage System Market Size Forecast by Type
13.6.1 Pumped Storage
13.6.2 LAES
13.6.3 CAES
13.6.4 Molten Salt Energy Storage
13.6.5 Flow Batteries Energy Storage
13.6.6 Li-Ion Batteries Energy Storage
13.6.7 Power-to-Gas Technology
13.6.8 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) Long Duration Energy Storage System Market Size Forecast by Applications
13.10.1 Power Plant
13.10.2 Utility Scale
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 Long Duration Energy Storage System Market: Competitive Dashboard
14.2 Global Long Duration Energy Storage System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 GE
14.3.2 ABB
14.3.3 Highview Power
14.3.4 Linde
14.3.5 Messer
14.3.6 Viridor
14.3.7 Heatric
14.3.8 Samsung SDI
14.3.9 Hitachi
14.3.10 Fluence Energy
14.3.11 LG Chem
14.3.12 Panasonic
14.3.13 MAN
14.3.14 ESS, Inc
14.3.15 Dalian Rongke Power
14.3.16 BYD
14.3.17 Saft Batteries
14.3.18 Lockheed Martin Energy
14.3.19 LSIS
14.3.20 Kokam
14.3.21 Atlas Copco
14.3.22 Cryostar
14.3.23 Chart
14.3.24 Aggreko
14.3.25 NGK
14.3.26 SMA Solar Technology
14.3.27 Primus Power
