Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Grid-Tied Energy Storage System Market by Type (Lithium, Lead Acid, NaS, Others), By Application (Residential, Utility & Commercial) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Grid-Tied Energy Storage System Market by Type (Lithium, Lead Acid, NaS, Others), By Application (Residential, Utility & Commercial) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 193524 3300 Energy & Power 377 233 Pages 4.9 (41)
                                          

Market Overview:


The global grid-tied energy storage system 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 grid-tied energy storage systems from residential and commercial applications, and the growing need for reliable and efficient power supply. The global grid-tied energy storage system 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, sodium sulfur battery (NaS), and others. Lithium ion batteries are expected to account for a major share of the global grid-tied energy storage system market due to their high efficiency and long life cycle. On the basis of application,the market is divided into residential applications, utility applications commercial applications.


Global Grid-Tied Energy Storage System Industry Outlook


Product Definition:


A grid-tied energy storage system (GESS) is a type of battery or other energy storage device that is connected to the electricity grid. Such systems can store excess power from the grid during periods of low demand and release it during periods of high demand, helping to smooth out fluctuations in supply and demand. They can also help reduce peak power demands, which can help save money on electricity bills.


Lithium:


Lithium is a light, silver-white metal. It is the lightest of all the alkali metals and has a high boiling point. The metal does not occur in nature; however, it can be obtained as a byproduct of mineralization of silica (quartz) and other minerals.


Lead Acid:


Lead-acid is the most common type of battery. It is manufactured by mixing lead (Pb) with a solution of sulfuric acid. Lead-acid batteries are inexpensive and have a high discharge rate; however, they do not have the ability to be recharged. These batteries are used in various applications including automotive, UPS systems, emergency power supply and solar energy storage system among others due to their low cost & weight properties along with good shelf life & reliability requirements.


Application Insights:


The utility & commercial application segment accounted for the largest market share of over 75% in 2017. Increasing number of power outages and brownouts across various regions are expected to drive the demand for grid-tied energy storage systems at a rapid pace. In addition, favorable government policies and tax rebates offered on installing solar panels are likely to augment the demand from utility & commercial applications over the forecast period.


The residential application segment is projected to expand at a CAGR of XX% from 2018 to 2030 owing to rising concerns regarding electricity supply during peak hours as well as growing emphasis on reducing carbon footprint among consumers globally. Favorable government policies promoting renewable sources such as wind and solar coupled with increasing awareness about clean energy consumption have led consumers towards gridside installations, which will further fuel growth over next seven years or so.


Regional Analysis:


Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The region accounted for a share of more than 30% in 2016 and is anticipated to witness significant growth over the next eight years. This can be attributed to increasing demand for energy storage systems from emerging economies, such as China and India, which are among the top 10 battery manufacturers globally.


China has been at the forefront of developing its renewable energy infrastructure with an aim toward reducing carbon footprint and enhancing grid stability while simultaneously meeting growing electricity demand through distributed generation sources rather than relying on fossil fuels alone. These factors have resulted in increased deployment of grid-tie batteries across China’s major cities along with other countries around Asia Pacific region as they provide cost-effective solutions for peak load shaving as well as providing emergency power during blackouts or natural disasters (hurricanes).


Growth Factors:


  • Increasing demand for grid-tied energy storage systems from commercial and industrial sectors to store renewable energy
  • Favorable government policies and regulations for the deployment of grid-tied energy storage systems
  • Growing awareness about the benefits of using grid-tied energy storage systems among consumers
  • Technological advancements in grid-tied energy storage systems that improve performance and reduce costs
  • Rising demand for distributed generation and microgrid applications

Scope Of The Report

Report Attributes

Report Details

Report Title

Grid-Tied Energy Storage System Market Research Report

By Type

Lithium, Lead Acid, NaS, Others

By Application

Residential, Utility & Commercial

By Companies

Samsung SDI, LG Chem, Hitachi, Kokam, Fluence Energy, LSIS, SMA Solar Technology, NGK, General Electric, Primus, Panasonic, BYD, Younicos, ABB, Saft Batteries, Lockheed Martin Energy, Eos Energy Storage, Con Edison Solutions

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

233

Number of Tables & Figures

164

Customization Available

Yes, the report can be customized as per your need.


Global Grid-Tied Energy Storage System Market Report Segments:

The global Grid-Tied Energy Storage System market is segmented on the basis of:

Types

Lithium, Lead Acid, NaS, 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, Utility & 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:

  1. Samsung SDI
  2. LG Chem
  3. Hitachi
  4. Kokam
  5. Fluence Energy
  6. LSIS
  7. SMA Solar Technology
  8. NGK
  9. General Electric
  10. Primus
  11. Panasonic
  12. BYD
  13. Younicos
  14. ABB
  15. Saft Batteries
  16. Lockheed Martin Energy
  17. Eos Energy Storage
  18. Con Edison Solutions

Global Grid-Tied Energy Storage System Market Overview


Highlights of The Grid-Tied Energy Storage System Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. Lithium
    2. Lead Acid
    3. NaS
    4. Others
  1. By Application:

    1. Residential
    2. Utility & Commercial
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Grid-Tied 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
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
  • Channel & Customer Management
  • Identifying Appropriate Advertising Appeals

Global Grid-Tied Energy Storage System Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. Customization of the Report Available

Frequently Asked Questions?


Grid-Tied Energy Storage System (GTS) is a type of energy storage system that uses the power grid as its primary source of energy. GTS systems are typically used to store electricity generated from renewable resources, such as solar and wind, to provide backup power during periods of high demand.

Some of the major players in the grid-tied energy storage system market are Samsung SDI, LG Chem, Hitachi, Kokam, Fluence Energy, LSIS, SMA Solar Technology, NGK, General Electric, Primus, Panasonic, BYD, Younicos, ABB, Saft Batteries, Lockheed Martin Energy, Eos Energy Storage, Con Edison Solutions.

                                            
1. Executive Summary

2. Assumptions and Acronyms Used

3. Research Methodology

4. Grid-Tied Energy Storage System Market Overview
   4.1. Introduction
      4.1.1. Market Taxonomy
      4.1.2. Market Definition
   4.2. Macro-Economic Factors
      4.2.1. Industry Outlook
   4.3. Grid-Tied Energy Storage System Market Dynamics
      4.3.1. Market Drivers
      4.3.2. Market Restraints
      4.3.3. Opportunity
      4.3.4. Market Trends
   4.4. Grid-Tied Energy Storage System Market - Supply Chain
   4.5. Global Grid-Tied Energy Storage System Market Forecast
      4.5.1. Grid-Tied Energy Storage System Market Size (US$ Mn) and Y-o-Y Growth
      4.5.2. Grid-Tied Energy Storage System Market Size (000’ Units) and Y-o-Y Growth
      4.5.3. Grid-Tied Energy Storage System Market Absolute $ Opportunity

5. Global Grid-Tied Energy Storage System Market Analysis and Forecast by Type
   5.1. Market Trends
   5.2. Introduction
      5.2.1. Basis Point Share (BPS) Analysis by Type
      5.2.2. Y-o-Y Growth Projections by Type
   5.3. Grid-Tied Energy Storage System Market Size and Volume Forecast by Type
      5.3.1. Lithium
      5.3.2. Lead Acid
      5.3.3. NaS
      5.3.4. Others
   5.4. Absolute $ Opportunity Assessment by Type
   5.5. Market Attractiveness/Growth Potential Analysis by Type

6. Global Grid-Tied Energy Storage System Market Analysis and Forecast by Application
   6.1. Market Trends
   6.2. Introduction
      6.2.1. Basis Point Share (BPS) Analysis by Application
      6.2.2. Y-o-Y Growth Projections by Application
   6.3. Grid-Tied Energy Storage System Market Size and Volume Forecast by Application
      6.3.1. Residential
      6.3.2. Utility & Commercial
   6.4. Absolute $ Opportunity Assessment by Application
   6.5. Market Attractiveness/Growth Potential Analysis by Application

7. Global Grid-Tied Energy Storage System Market Analysis and Forecast by Sales Channel
   7.1. Market Trends
   7.2. Introduction
      7.2.1. Basis Point Share (BPS) Analysis by Sales Channel 
      7.2.2. Y-o-Y Growth Projections by Sales Channel
   7.3. Grid-Tied Energy Storage System Market Size and Volume Forecast by Sales Channel 
      7.3.1. Manufacturer/Distributor/Service Provider
      7.3.2. Aftermarket
   7.4. Absolute $ Opportunity Assessment by Sales Channel
   7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel

8. Global Grid-Tied Energy Storage System Market Analysis and Forecast by Region
   8.1. Market Trends
   8.2. Introduction
      8.2.1. Basis Point Share (BPS) Analysis by Region
      8.2.2. Y-o-Y Growth Projections by Region
   8.3. Grid-Tied Energy Storage System Market Size and Volume Forecast by Region
      8.3.1. North America
      8.3.2. Latin America
      8.3.3. Europe
      8.3.4. Asia Pacific
      8.3.5. Middle East and Africa (MEA)
   8.4. Absolute $ Opportunity Assessment by Region
   8.5. Market Attractiveness/Growth Potential Analysis by Region
   8.6. Global Grid-Tied Energy Storage System Demand Share Forecast, 2019-2026

9. North America Grid-Tied Energy Storage System Market Analysis and Forecast
   9.1. Introduction
      9.1.1. Basis Point Share (BPS) Analysis by Country
      9.1.2. Y-o-Y Growth Projections by Country
   9.2. North America Grid-Tied Energy Storage System Market Size and Volume Forecast by Country
      9.2.1. U.S.
      9.2.2. Canada
   9.3. Absolute $ Opportunity Assessment by Country
   9.4. North America Grid-Tied Energy Storage System Market Size and Volume Forecast by Application
      9.4.1. Residential
      9.4.2. Utility & Commercial
   9.5. Basis Point Share (BPS) Analysis by Application
   9.6. Y-o-Y Growth Projections by Application
   9.7. North America Grid-Tied Energy Storage System Market Size and Volume Forecast by Type
      9.7.1. Lithium
      9.7.2. Lead Acid
      9.7.3. NaS
      9.7.4. Others
   9.8. Basis Point Share (BPS) Analysis by Type
   9.9. Y-o-Y Growth Projections by Type
   9.10. Market Attractiveness/Growth Potential Analysis
      9.10.1. By Country
      9.10.2. By Product Type
      9.10.3. By Application
      9.10.4. By Sales Channel
   9.11. North America Grid-Tied Energy Storage System Demand Share Forecast, 2019-2026

10. Latin America Grid-Tied Energy Storage System Market Analysis and Forecast
   10.1. Introduction
      10.1.1. Basis Point Share (BPS) Analysis by Country
      10.1.2. Y-o-Y Growth Projections by Country
      10.1.3. Latin America Average Pricing Analysis
   10.2. Latin America Grid-Tied Energy Storage System Market Size and Volume Forecast by Country
      10.2.1. Brazil
      10.2.2. Mexico
      10.2.3. Rest of Latin America
   10.3. Absolute $ Opportunity Assessment by Country
   10.4. Latin America Grid-Tied Energy Storage System Market Size and Volume Forecast by Application
      10.4.1. Residential
      10.4.2. Utility & Commercial
   10.5. Basis Point Share (BPS) Analysis by Application
   10.6. Y-o-Y Growth Projections by Application
   10.7. Latin America Grid-Tied Energy Storage System Market Size and Volume Forecast by Type
      10.7.1. Lithium
      10.7.2. Lead Acid
      10.7.3. NaS
      10.7.4. Others
   10.8. Basis Point Share (BPS) Analysis by Type
   10.9. Y-o-Y Growth Projections by Type
   10.10. Market Attractiveness/Growth Potential Analysis
      10.10.1. By Country
      10.10.2. By Product Type
      10.10.3. By Application
      10.10.4. By Sales Channel
   10.11. Latin America Grid-Tied Energy Storage System Demand Share Forecast, 2019-2026

11. Europe Grid-Tied Energy Storage System Market Analysis and Forecast
   11.1. Introduction
      11.1.1. Basis Point Share (BPS) Analysis by Country
      11.1.2. Y-o-Y Growth Projections by Country
      11.1.3. Europe Average Pricing Analysis
   11.2. Europe Grid-Tied Energy Storage System Market Size and Volume Forecast by Country
      11.2.1. Germany
      11.2.2. France
      11.2.3. Italy
      11.2.4. U.K.
      11.2.5. Spain
      11.2.6. Russia
      11.2.7. Rest of Europe
   11.3. Absolute $ Opportunity Assessment by Country
   11.4. Europe Grid-Tied Energy Storage System Market Size and Volume Forecast by Application
      11.4.1. Residential
      11.4.2. Utility & Commercial
   11.5. Basis Point Share (BPS) Analysis by Application
   11.6. Y-o-Y Growth Projections by Application
   11.7. Europe Grid-Tied Energy Storage System Market Size and Volume Forecast by Type
      11.7.1. Lithium
      11.7.2. Lead Acid
      11.7.3. NaS
      11.7.4. Others
   11.8. Basis Point Share (BPS) Analysis by Type
   11.9. Y-o-Y Growth Projections by Type
   11.10. Market Attractiveness/Growth Potential Analysis
      11.10.1. By Country
      11.10.2. By Product Type
      11.10.3. By Application
      11.10.4. By Sales Channel
   11.11. Europe Grid-Tied Energy Storage System Demand Share, 2019-2026

12. Asia Pacific Grid-Tied Energy Storage System Market Analysis and Forecast
   12.1. Introduction
      12.1.1. Basis Point Share (BPS) Analysis by Country
      12.1.2. Y-o-Y Growth Projections by Country
      12.1.3. Asia Pacific Average Pricing Analysis
   12.2. Asia Pacific Grid-Tied Energy Storage System Market Size and Volume Forecast by Country
      12.2.1. China
      12.2.2. Japan
      12.2.3. South Korea
      12.2.4. India
      12.2.5. Australia
      12.2.6. Rest of Asia Pacific (APAC)
   12.3. Absolute $ Opportunity Assessment by Country
   12.4. Asia Pacific Grid-Tied Energy Storage System Market Size and Volume Forecast by Application
      12.4.1. Residential
      12.4.2. Utility & Commercial
   12.5. Basis Point Share (BPS) Analysis by Application
   12.6. Y-o-Y Growth Projections by Application
   12.7. Asia Pacific Grid-Tied Energy Storage System Market Size and Volume Forecast by Type
      12.7.1. Lithium
      12.7.2. Lead Acid
      12.7.3. NaS
      12.7.4. Others
   12.8. Basis Point Share (BPS) Analysis by Type
   12.9. Y-o-Y Growth Projections by Type
   12.10. Market Attractiveness/Growth Potential Analysis
      12.10.1. By Country
      12.10.2. By Product Type
      12.10.3. By Application
      12.10.4. By Sales Channel
   12.11. Asia Pacific Grid-Tied Energy Storage System Demand Share, 2019-2026

13. Middle East & Africa Grid-Tied Energy Storage System Market Analysis and Forecast
   13.1. Introduction
      13.1.1. Basis Point Share (BPS) Analysis by Country
      13.1.2. Y-o-Y Growth Projections by Country
      13.1.3. Asia Pacific Average Pricing Analysis
   13.2. Middle East & Africa Grid-Tied Energy Storage System Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
   13.4. Middle East & Africa Grid-Tied Energy Storage System Market Size and Volume Forecast by Application
      13.4.1. Residential
      13.4.2. Utility & Commercial
   13.5. Basis Point Share (BPS) Analysis by Application
   13.6. Y-o-Y Growth Projections by Application
   13.7. Middle East & Africa Grid-Tied Energy Storage System Market Size and Volume Forecast by Type
      13.7.1. Lithium
      13.7.2. Lead Acid
      13.7.3. NaS
      13.7.4. Others
   13.8. Basis Point Share (BPS) Analysis by Type
   13.9. Y-o-Y Growth Projections by Type
   13.10. Market Attractiveness/Growth Potential Analysis
      13.10.1. By Country
      13.10.2. By Product Type
      13.10.3. By Application
      13.10.4. By Sales Channel
   13.11. Middle East & Africa Grid-Tied Energy Storage System Demand Share, 2019-2026

14. Competition Landscape
   14.1. Global Grid-Tied Energy Storage System Market: Market Share Analysis
   14.2. Grid-Tied Energy Storage System Distributors and Customers
   14.3. Grid-Tied Energy Storage System Market: Competitive Dashboard
   14.4. Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.4.1. Samsung SDI
         14.4.1.1. Overview
         14.4.1.2. Financials
         14.4.1.3. Developments
         14.4.1.4. Strategic Outlook
      14.4.2. LG Chem
         14.4.2.1. Overview
         14.4.2.2. Financials
         14.4.2.3. Developments
         14.4.2.4. Strategic Outlook
      14.4.3. Hitachi
         14.4.3.1. Overview
         14.4.3.2. Financials
         14.4.3.3. Developments
         14.4.3.4. Strategic Outlook
      14.4.4. Kokam
         14.4.4.1. Overview
         14.4.4.2. Financials
         14.4.4.3. Developments
         14.4.4.4. Strategic Outlook
      14.4.5. Fluence Energy
         14.4.5.1. Overview
         14.4.5.2. Financials
         14.4.5.3. Developments
         14.4.5.4. Strategic Outlook
      14.4.6. LSIS
         14.4.6.1. Overview
         14.4.6.2. Financials
         14.4.6.3. Developments
         14.4.6.4. Strategic Outlook
      14.4.7. SMA Solar Technology
         14.4.7.1. Overview
         14.4.7.2. Financials
         14.4.7.3. Developments
         14.4.7.4. Strategic Outlook
      14.4.8. NGK
         14.4.8.1. Overview
         14.4.8.2. Financials
         14.4.8.3. Developments
         14.4.8.4. Strategic Outlook
      14.4.9. General Electric
         14.4.9.1. Overview
         14.4.9.2. Financials
         14.4.9.3. Developments
         14.4.9.4. Strategic Outlook
      14.4.10. Primus
         14.4.10.1. Overview
         14.4.10.2. Financials
         14.4.10.3. Developments
         14.4.10.4. Strategic Outlook
      14.4.11. Panasonic
         14.4.11.1. Overview
         14.4.11.2. Financials
         14.4.11.3. Developments
         14.4.11.4. Strategic Outlook
      14.4.12. BYD
         14.4.12.1. Overview
         14.4.12.2. Financials
         14.4.12.3. Developments
         14.4.12.4. Strategic Outlook
      14.4.13. Younicos
         14.4.13.1. Overview
         14.4.13.2. Financials
         14.4.13.3. Developments
         14.4.13.4. Strategic Outlook
      14.4.14. ABB
         14.4.14.1. Overview
         14.4.14.2. Financials
         14.4.14.3. Developments
         14.4.14.4. Strategic Outlook
      14.4.15. Saft Batteries
         14.4.15.1. Overview
         14.4.15.2. Financials
         14.4.15.3. Developments
         14.4.15.4. Strategic Outlook
      14.4.16. Lockheed Martin Energy
         14.4.16.1. Overview
         14.4.16.2. Financials
         14.4.16.3. Developments
         14.4.16.4. Strategic Outlook
      14.4.17. Eos Energy Storage
         14.4.17.1. Overview
         14.4.17.2. Financials
         14.4.17.3. Developments
         14.4.17.4. Strategic Outlook
      14.4.18. Con Edison Solutions
         14.4.18.1. Overview
         14.4.18.2. Financials
         14.4.18.3. Developments
         14.4.18.4. Strategic Outlook
      14.4.19. COMPANY 19
         14.4.19.1. Overview
         14.4.19.2. Financials
         14.4.19.3. Developments
         14.4.19.4. Strategic Outlook
      14.4.20. COMPANY 20
         14.4.20.1. Overview
         14.4.20.2. Financials
         14.4.20.3. Developments
         14.4.20.4. Strategic Outlook

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