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Advanced Energy Storage: Global Strategic Business Report

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    Report

  • 299 Pages
  • October 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 2531225

Global Advanced Energy Storage Market to Reach 16.3 Thousand Megawatts by 2027

In the changed post COVID-19 business landscape, the global market for Advanced Energy Storage estimated at 10.4 Thousand Megawatts in the year 2020, is projected to reach a revised size of 16.3 Thousand Megawatts by 2027, growing at a CAGR of 6.6% over the analysis period 2020-2027. Thermal Energy Storage, one of the segments analyzed in the report, is projected to record a 7.5% CAGR and reach 8.1 Thousand Megawatts by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Electrochemical Energy Storage segment is readjusted to a revised 6.1% CAGR for the next 7-year period.

The U.S. Market is Estimated at 3.1 Thousand Megawatts, While China is Forecast to Grow at 6.2% CAGR

The Advanced Energy Storage market in the U.S. is estimated at 3.1 Thousand Megawatts in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of 2.8 Thousand Megawatts by the year 2027 trailing a CAGR of 6.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.3% and 5.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.3% CAGR.

Other Technologies Segment to Record 5.5% CAGR

In the global Other Technologies segment, USA, Canada, Japan, China and Europe will drive the 5.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of 1.7 Thousand Megawatts in the year 2020 will reach a projected size of 2.5 Thousand Megawatts by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 1.9 Thousand Megawatts by the year 2027.

Select Competitors (Total 94 Featured) -

  • ABB Ltd.
  • Active Power, Inc.
  • AES Energy Storage, LLC
  • Alevo Group S.A.
  • Altair Nanotechnologies, Inc.
  • Amber Kinetics, Inc.
  • Areva
  • Ashlawn Energy, LLC
  • Axion Power International, Inc.
  • Beacon Power, LLC
  • BYD Co. Ltd.
  • Calnetix Technologies, LLC
  • Dresser-Rand Group, Inc.
  • ECOULT
  • Electrochaea GmbH
  • Encell Technology, Inc.
  • EnSync Energy Systems, Inc.
  • Exide Technologies
  • General Electric Company
  • Gridflex Energy, LLC
  • Highview Enterprises Ltd.
  • Hitachi, Ltd.
  • Hyper Tech Research, Inc.
  • IMS group AS
  • ITM Power Plc
  • Kokam Co., Ltd
  • Leclanché SA
  • LG Chem
  • LightSail Energy
  • Maxwell Technologies, Inc.
  • McPhy Energy S.A.
  • NEC Energy Solutions
  • NGK Insulators, Ltd.
  • Proton OnSite
  • Redflow Limited
  • Saft Groupe S.A.
  • Samsung SDI Co., Ltd.
  • Siemens AG
  • Temporal Power
  • Tesla, Inc.
  • Tianjin Lishen Battery Co., Ltd.
  • Toshiba International Corporation
  • ViZn Energy Systems, Inc.

What`s New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and Research Platform
  • Complimentary updates for one year

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Rising Share of Intermittent Sources of Energy in Utility Energy Generation Portfolio: The Cornerstone for the Growth of Utility Grade Advanced Energy Storage Technologies
  • Recent Market Activity
  • Review of Renewable Energy Projects Undertaken Worldwide and Regulations Supporting Renewable Electricity-to-Grid Integration
  • Declining Cost of Wind and Solar Power Make Renewables an Important Part of Utility Energy Portfolio
  • Escalating Climate Change Adds Urgency to the Renewable Energy Revolution Underway in the Global Economy
  • How the Renewable Energy Boom Benefits Advanced Energy Storage Technologies
  • Despite Declines in Renewable Investments, Outlook for Advanced Energy Storage Remains Bright
  • Prolonged Softness in Oil Prices: What It Means for Renewable-to-Grid Integration
  • Market Outlook
  • Advanced Energy Storage - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Major Market Trends and Drivers
  • Rising Investments in Energy Storage Projects Bodes Well for the Growth of Advanced Energy Storage Technologies
  • Aging Energy Infrastructure Drives Opportunities for Energy Storage as a Method of Modernizing Energy Grids
  • Are Batteries Ready for Mass Commercialization in Grid-Level Energy Storage?
  • “Value Stacking”: A Vital Product Development & Design Strategy to Counter the High CAPEX of Battery Energy Storage Technologies
  • Lithium Ion (Li-ion) Batteries: The Leader in Utility-Scale Applications
  • Robust Surge in Solar and Wind Farms Throws the Focus Squarely on Grid Stability
  • Energy Storage Assets Remain Vital Towards Enhancing the Operation of Smart Grids
  • Flywheel Systems Emerge as a Reasonable Alternative to Batteries Uniquely Suited to Utility-Scale Applications
  • Large Capacity Sodium Sulfur Battery Grow in Prominence as a Promising Clean Energy Technology
  • CAES Systems to Offer Utility Grids Cost-Effective Bulk Storage
  • LAES Promises Environmentally Neutral Grid Scale Energy Storage without Geographical Constraints
  • SMES: A Promising Advanced Energy Storage Technology
  • Hydrogen Storage Offers Seamless Integration of Wind and Solar Energy into the Grid
  • Continuous Innovations Push a Bevy of Exciting Storage Technologies Closer to Commercialization
  • Although Lower Than Pre-Recession Levels, World Demand for Energy Will Remain a Key Driver of Growth
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Advanced Energy Storage by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2020 through 2027 and % CAGR
  • Table 2: World 7-Year Perspective for Advanced Energy Storage by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2021 & 2027
  • Table 3: World Recent Past, Current & Future Analysis for Thermal Energy Storage by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2020 through 2027 and % CAGR
  • Table 4: World 7-Year Perspective for Thermal Energy Storage by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
  • Table 5: World Recent Past, Current & Future Analysis for Electrochemical Energy Storage by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2020 through 2027 and % CAGR
  • Table 6: World 7-Year Perspective for Electrochemical Energy Storage by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
  • Table 7: World Recent Past, Current & Future Analysis for Other Technologies by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2020 through 2027 and % CAGR
  • Table 8: World 7-Year Perspective for Other Technologies by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
  • Table 9: World Recent Past, Current & Future Analysis for Transportation by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2020 through 2027 and % CAGR
  • Table 10: World 7-Year Perspective for Transportation by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
  • Table 11: World Recent Past, Current & Future Analysis for Grid Storage by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2020 through 2027 and % CAGR
  • Table 12: World 7-Year Perspective for Grid Storage by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
  • Table 13: World Advanced Energy Storage Market Analysis of Annual Sales in Megawatts for Years 2012 through 2027
III. MARKET ANALYSIS
UNITED STATES
  • Advanced Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Table 14: USA Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR
  • Table 15: USA 7-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2021 & 2027
  • Table 16: USA Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR
  • Table 17: USA 7-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2021 & 2027
CANADA
  • Table 18: Canada Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR
  • Table 19: Canada 7-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2021 & 2027
  • Table 20: Canada Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR
  • Table 21: Canada 7-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2021 & 2027
JAPAN
  • Advanced Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
  • Table 22: Japan Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR
  • Table 23: Japan 7-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2021 & 2027
  • Table 24: Japan Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR
  • Table 25: Japan 7-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2021 & 2027
CHINA
  • Advanced Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • Table 26: China Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR
  • Table 27: China 7-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2021 & 2027
  • Table 28: China Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR
  • Table 29: China 7-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2021 & 2027
EUROPE
  • Advanced Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Table 30: Europe Recent Past, Current & Future Analysis for Advanced Energy Storage by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in Megawatts for Years 2020 through 2027 and % CAGR
  • Table 31: Europe 7-Year Perspective for Advanced Energy Storage by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2021 & 2027
  • Table 32: Europe Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR
  • Table 33: Europe 7-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2021 & 2027
  • Table 34: Europe Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR
  • Table 35: Europe 7-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2021 & 2027
FRANCE
  • Advanced Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
  • Table 36: France Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR
  • Table 37: France 7-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2021 & 2027
  • Table 38: France Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR
  • Table 39: France 7-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2021 & 2027
GERMANY
  • Advanced Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
  • Table 40: Germany Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR
  • Table 41: Germany 7-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2021 & 2027
  • Table 42: Germany Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR
  • Table 43: Germany 7-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2021 & 2027
ITALY
  • Table 44: Italy Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR
  • Table 45: Italy 7-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2021 & 2027
  • Table 46: Italy Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR
  • Table 47: Italy 7-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2021 & 2027
UNITED KINGDOM
  • Advanced Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
  • Table 48: UK Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR
  • Table 49: UK 7-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2021 & 2027
  • Table 50: UK Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR
  • Table 51: UK 7-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2021 & 2027
REST OF EUROPE
  • Table 52: Rest of Europe Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR
  • Table 53: Rest of Europe 7-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2021 & 2027
  • Table 54: Rest of Europe Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR
  • Table 55: Rest of Europe 7-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2021 & 2027
ASIA-PACIFIC
  • Advanced Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Table 56: Asia-Pacific Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR
  • Table 57: Asia-Pacific 7-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2021 & 2027
  • Table 58: Asia-Pacific Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR
  • Table 59: Asia-Pacific 7-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2021 & 2027
REST OF WORLD
  • Table 60: Rest of World Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR
  • Table 61: Rest of World 7-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2021 & 2027
  • Table 62: Rest of World Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR
  • Table 63: Rest of World 7-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2021 & 2027
IV. COMPETITION

Companies Mentioned

A selection of companies mentioned in this report includes:

  • ABB Ltd.
  • Active Power, Inc.
  • AES Energy Storage, LLC
  • Alevo Group S.A.
  • Altair Nanotechnologies, Inc.
  • Amber Kinetics, Inc.
  • Areva
  • Ashlawn Energy, LLC
  • Axion Power International, Inc.
  • Beacon Power, LLC
  • BYD Co. Ltd.
  • Calnetix Technologies, LLC
  • Dresser-Rand Group, Inc.
  • ECOULT
  • Electrochaea GmbH
  • Encell Technology, Inc.
  • EnSync Energy Systems, Inc.
  • Exide Technologies
  • General Electric Company
  • Gridflex Energy, LLC
  • Highview Enterprises Ltd.
  • Hitachi, Ltd.
  • Hyper Tech Research, Inc.
  • IMS group AS
  • ITM Power Plc
  • Kokam Co., Ltd
  • Leclanché SA
  • LG Chem
  • LightSail Energy
  • Maxwell Technologies, Inc.
  • McPhy Energy S.A.
  • NEC Energy Solutions
  • NGK Insulators, Ltd.
  • Proton OnSite
  • Redflow Limited
  • Saft Groupe S.A.
  • Samsung SDI Co., Ltd.
  • Siemens AG
  • Temporal Power
  • Tesla, Inc.
  • Tianjin Lishen Battery Co., Ltd.
  • Toshiba International Corporation
  • ViZn Energy Systems, Inc.