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.
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:
- 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
Highlights of The Grid-Tied 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:
- Lithium
- Lead Acid
- NaS
- Others
- By Application:
- Residential
- Utility & Commercial
- 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-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.
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- Correctly Positioning New Products
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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?
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