The global renewable battery energy storage market is expected to grow at a CAGR of around 16.5% during the forecast period, from 2021 to 2030. The market is driven by the increasing demand for renewable energy and the need for grid stability. The increasing penetration of renewables in power generation has led to an increase in the need for battery storage systems that can store excess electricity generated by these sources and release it when needed. This has led to an increase in investments in this sector, which will drive growth over the next few years.
The global renewable battery energy storage market is segmented on the basis of type, application, and region. On the basis of type, it is segmented into lithium ion batteries (Li-ion), lead acid batteries (Leaacid), and sodium sulfur batteries (NaS). Li-ion batteries are used as they have high power density with low weight per unit volume; they are also cost effective as compared to other types of batteries such as Leaacid or NaS. On the basis of application, it is segmented into Application I and Application II; while Application I includes residential applications such as solar home systems or off-grid solar home systems; Application II includes commercial applications such as utility scale solar plants or wind farms that require large amounts of electricity storage capacity due to their intermittent nature. On the basis of region, it covers North America, Latin America, Europe, Asia Pacific & Middle East & Africa regions.
- The Renewables Battery Energy Storage market is expected to grow at a CAGR of over 20% during the forecast period.
- The increasing demand for renewable energy sources is one of the major factors driving the growth of this market.
- Increasing investments in renewable energy sources by governments and private companies are also driving the growth of this market.
- The increasing need for power backup solutions due to frequent power outages is another factor that will drive the growth of this market during the forecast period, as it will help reduce dependence on fossil fuels and provide uninterrupted power supply to consumers in remote areas where grid connectivity is not possible or unreliable, such as islands, rural areas, etc, which are not connected to a grid network or have unreliable grid networks with frequent blackouts and brownouts due to natural disasters like hurricanes, earthquakes, etc, or man-made disasters like wars and terrorist attacks on grids infrastructure that disrupts electricity supply from generation plants to distribution networks; these events can lead to prolonged blackouts lasting days or weeks in some cases which can be detrimental for businesses and households alike; hence there has been an increased demand for battery storage systems that can store electricity generated from renewable sources such as solar panels/wind turbines/hydroelectricity plants/geothermal plants so that it can be used when needed without any interruption even if there's no access to external power source like grid network; these battery storage systems are also being increasingly used by electric utilities across various regions globally including North America (US), Europe (Germany), Asia Pacific (China) among others;.
- Increasing awareness about environmental issues among people coupled with government regulations mandating reduction in carbon emissions will drive adoption rates of renewables battery energy storage systems globally during the forecast period.
Industry Growth Insights published a new data on “Renewables Battery Energy Storage Market”. The research report is titled “Renewables Battery Energy Storage Market research by Types (Li-ion, Lead-acid, Sodium, Others), By Applications (Application I, Application II), By Players/Companies AES Energy Storage, A123 Systems, Axion Power, BYD, LG Chem, NGK Insulators, SAFT, Samsung SDI, GE Energy Storage, Mitsubishi Heavy Industries, Amperex, Boston Power, China Avaiation Lithium Battery, Sumitomo Electric, Toshiba, Xtreme Power”.
Scope Of The Report
Report Attributes
Report Details
Report Title
Renewables Battery Energy Storage Market Research Report
By Type
Li-ion, Lead-acid, Sodium, Others
By Application
Application I, Application II
By Companies
AES Energy Storage, A123 Systems, Axion Power, BYD, LG Chem, NGK Insulators, SAFT, Samsung SDI, GE Energy Storage, Mitsubishi Heavy Industries, Amperex, Boston Power, China Avaiation Lithium Battery, Sumitomo Electric, Toshiba, Xtreme 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
237
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Renewables Battery Energy Storage Market Report Segments:
The global Renewables Battery Energy Storage market is segmented on the basis of:
Types
Li-ion, Lead-acid, Sodium, 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
Application I, Application II
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:
- AES Energy Storage
- A123 Systems
- Axion Power
- BYD
- LG Chem
- NGK Insulators
- SAFT
- Samsung SDI
- GE Energy Storage
- Mitsubishi Heavy Industries
- Amperex
- Boston Power
- China Avaiation Lithium Battery
- Sumitomo Electric
- Toshiba
- Xtreme Power
Highlights of The Renewables Battery 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:
- Li-ion
- Lead-acid
- Sodium
- Others
- By Application:
- Application I
- Application II
- 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 Renewables Battery 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.
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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?
Renewables Battery Energy Storage (RBS) is a technology that uses renewable energy to store electricity for later use. This can be done in two ways: by using batteries to store solar or wind power, or by storing energy from hydropower plants. When the stored energy is needed, it can be used to power homes and businesses.
Some of the major companies in the renewables battery energy storage market are AES Energy Storage, A123 Systems, Axion Power, BYD, LG Chem, NGK Insulators, SAFT, Samsung SDI, GE Energy Storage, Mitsubishi Heavy Industries, Amperex, Boston Power, China Avaiation Lithium Battery, Sumitomo Electric, Toshiba, Xtreme Power.
The renewables battery energy storage market is expected to register a CAGR of 16.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Renewables Battery Energy Storage 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. Renewables Battery Energy Storage Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Renewables Battery Energy Storage Market - Supply Chain
4.5. Global Renewables Battery Energy Storage Market Forecast
4.5.1. Renewables Battery Energy Storage Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Renewables Battery Energy Storage Market Size (000 Units) and Y-o-Y Growth
4.5.3. Renewables Battery Energy Storage Market Absolute $ Opportunity
5. Global Renewables Battery Energy Storage 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. Renewables Battery Energy Storage Market Size and Volume Forecast by Type
5.3.1. Li-ion
5.3.2. Lead-acid
5.3.3. Sodium
5.3.4. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Renewables Battery Energy Storage 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. Renewables Battery Energy Storage Market Size and Volume Forecast by Application
6.3.1. Application I
6.3.2. Application II
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Renewables Battery Energy Storage 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. Renewables Battery Energy Storage 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 Renewables Battery Energy Storage 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. Renewables Battery Energy Storage 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 Renewables Battery Energy Storage Demand Share Forecast, 2019-2026
9. North America Renewables Battery Energy Storage 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 Renewables Battery Energy Storage 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 Renewables Battery Energy Storage Market Size and Volume Forecast by Application
9.4.1. Application I
9.4.2. Application II
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Renewables Battery Energy Storage Market Size and Volume Forecast by Type
9.7.1. Li-ion
9.7.2. Lead-acid
9.7.3. Sodium
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 Renewables Battery Energy Storage Demand Share Forecast, 2019-2026
10. Latin America Renewables Battery Energy Storage 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 Renewables Battery Energy Storage 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 Renewables Battery Energy Storage Market Size and Volume Forecast by Application
10.4.1. Application I
10.4.2. Application II
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Renewables Battery Energy Storage Market Size and Volume Forecast by Type
10.7.1. Li-ion
10.7.2. Lead-acid
10.7.3. Sodium
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 Renewables Battery Energy Storage Demand Share Forecast, 2019-2026
11. Europe Renewables Battery Energy Storage 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 Renewables Battery Energy Storage 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 Renewables Battery Energy Storage Market Size and Volume Forecast by Application
11.4.1. Application I
11.4.2. Application II
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Renewables Battery Energy Storage Market Size and Volume Forecast by Type
11.7.1. Li-ion
11.7.2. Lead-acid
11.7.3. Sodium
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 Renewables Battery Energy Storage Demand Share, 2019-2026
12. Asia Pacific Renewables Battery Energy Storage 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 Renewables Battery Energy Storage 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 Renewables Battery Energy Storage Market Size and Volume Forecast by Application
12.4.1. Application I
12.4.2. Application II
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Renewables Battery Energy Storage Market Size and Volume Forecast by Type
12.7.1. Li-ion
12.7.2. Lead-acid
12.7.3. Sodium
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 Renewables Battery Energy Storage Demand Share, 2019-2026
13. Middle East & Africa Renewables Battery Energy Storage 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 Renewables Battery Energy Storage 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 Renewables Battery Energy Storage Market Size and Volume Forecast by Application
13.4.1. Application I
13.4.2. Application II
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Renewables Battery Energy Storage Market Size and Volume Forecast by Type
13.7.1. Li-ion
13.7.2. Lead-acid
13.7.3. Sodium
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 Renewables Battery Energy Storage Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Renewables Battery Energy Storage Market: Market Share Analysis
14.2. Renewables Battery Energy Storage Distributors and Customers
14.3. Renewables Battery Energy Storage Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. AES Energy Storage
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. A123 Systems
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Axion Power
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. BYD
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. LG Chem
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. NGK Insulators
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. SAFT
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Samsung SDI
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. GE Energy Storage
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Mitsubishi Heavy Industries
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Amperex
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Boston Power
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. China Avaiation Lithium Battery
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Sumitomo Electric
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Toshiba
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Xtreme Power
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
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
