Advanced Energy Storage Systems Market by Technology (Electro Chemical Technology, Mechanical Technology, Thermal Storage Technology), by Application (Transportation and Grid Storage), and Region - Global Forecast to 2022

  • ID: 4390937
  • Report
  • Region: Global
  • 158 Pages
  • Markets and Markets
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The Advanced Energy Storage Systems Market is Projected to Reach USD 19.04 Billion By 2022, at a CAGR of 8.38%, from 2017 to 2022.

FEATURED COMPANIES

  • ABB Ltd.
  • Calmac
  • General Electric Company
  • Hitachi, Ltd.
  • Panasonic Corporation
  • Samsung SDI Co., Ltd.
  • MORE

“The advanced energy storage systems market is projected to grow at a CAGR of 8.38%, from 2017 to 2022.”

The increasing renewable energy investments, reducing costs lithium-ion battery, and electrification of the transportation sector are the major drivers of the advanced energy storage systems market.

High capital requirement for some of the technologies, hazardous environmental impact of batteries, and lack of common codes and standards in the energy storage industry could hinder the growth of the AESS market.

“The lithium-ion sub-segment, within the technology segment, is expected to grow at the highest CAGR, from 2017 to 2022.”

The lithium-ion battery sub-segment, within the technology segment, is likely to grow at the highest CAGR, during 2017 to 2022. It led the electro chemical technology segment sector within the advanced energy storage systems market in 2016 and is projected to dominate the market during the forecast period.

This particular market is expected to grow in the future as a result of rapid growth in the electric vehicles market coupled with the falling cost of these batteries. Furthermore, technological advancements and the rapid involvement of domestic manufacturers to cater to the varied applications demand for lithium-ion batteries are some of the reasons behind the segment’s strong hold in the market.

“Asia Pacific: The largest market for advanced energy storage systems”

The market in Asia Pacific is currently the largest market for advanced energy storage systems, followed by North America. The market in Asia Pacific is primarily driven by China and Japan. China has a major share in the world’s electric vehicle market, which makes it a key market for lithium-ion batteries.  

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:

  • By Company Type: Tier 1- 31%, Tier 2- 22%, and Tier 3- 47%
  • By Designation: C-Level- 37%, Manager-Level- 34%, and D-Level- 29%
  • By Region: North America- 23%, Europe- 29%, Asia Pacific- 34%, and RoW- 14%

Notes: The tier for companies has been defined on the basis of their total revenue, as of 2016: Tier 1=>USD 5 billion, Tier 2=from USD 1 billion to USD 5 billion, and Tier 3=<USD 1 billion
RoW is the rest of the world

Leading players in the advanced energy storage systems market include ABB Ltd. (Switzerland), LG Chem, Ltd. (South Korea), General Electric Company (US), Samsung SDI Co ltd. (South Korea), GS Yuasa Corporation (Japan), Siemens Ltd. (Germany), Panasonic Corporation (Japan), CALMAC (US), Baltimore Aircoil Company, Inc (US), Tesla Inc. (US), Evapco, Inc. (US), Saft Groupe S.A (France), Hitachi Ltd (Japan), and BYD Company Ltd (China).

Research Coverage:

The report defines, describes, and forecasts the global advanced energy storage systems market by technology, application, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of major market drivers, restraints, opportunities, challenges, and key issues. It also covers various important aspects of the market.

Why buy this report?

  • The report identifies and addresses key technology providers for advanced energy storage systems which would help service providers, review the growth in the demand for services.
  • The report helps system providers understand the pulse of the market and provide insights into drivers, restraints, and challenges.
  • The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.
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FEATURED COMPANIES

  • ABB Ltd.
  • Calmac
  • General Electric Company
  • Hitachi, Ltd.
  • Panasonic Corporation
  • Samsung SDI Co., Ltd.
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.3 Market Breakdown & Data Triangulation
2.4 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Advanced Energy Storage Systems Market, 2017-2022
4.2 Advanced Energy Storage Systems Market, By Region, 2017-2022
4.3 Advanced Energy Storage Systems Market, By Application, 2017 & 2022
4.4 Transportation Advanced Energy Storage Systems Market, By Region, 2017 & 2022
4.5 Advanced Energy Storage Systems Market, By Technology, 2017 & 2022

5 Market Overview
5.1 Introduction
5.2 Technology Overview
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Increasing Renewable Energy Investments
5.3.1.2 Energy Arbitrage
5.3.1.3 Regulations Demanding Energy Efficiency
5.3.1.4 Declining Technology Cost Due to Technology Advancement and Expanded Deployment
5.3.1.5 Electrification of the Transport Sector
5.3.2 Restraints
5.3.2.1 High Capital Investments
5.3.2.2 Hazardous Environmental Impact
5.3.3 Opportunities
5.3.3.1 Grid Expansion and Investment in the Modern Infrastructure
5.3.3.2 Growing Opportunity for Commercial and Residential Applications
5.3.4 Challenges
5.3.4.1 Dynamic Valuations
5.3.4.2 Regulatory Treatment
5.3.4.3 Lack of Common Codes and Standards

6 Advanced Energy Storage Systems Market, By Application
6.1 Introduction
6.2 Transportation
6.3 Grid Storage

7 Advanced Energy Storage Systems Market, By Technology
7.1 Introduction
7.2 Electro Chemical
7.2.1 Lithium-Ion Battery
7.2.2 Lead Acid Battery
7.2.3 Sodium Sulfur (NAS) Battery
7.2.4 Flow Battery
7.2.5 Nickel Metal Hydride (NIMH) & Nickel Cadmium Battery (NICD)
7.3 Thermal Storage
7.3.1 Thermo Chemical Energy Storage
7.3.2 Sensible Heat Thermal Energy Storage
7.3.3 Latent Heat Thermal Energy Storage
7.4 Mechanical Energy Storage
7.4.1 Pumped Hydro Energy Storage
7.4.2 Flywheel Energy Storage
7.4.3 Compressed Air & Liquid Air Energy Storage
7.5 Other Storage Technologies

8 Advanced Energy Storage Systems Market, By Region
8.1 Introduction
8.2 Asia Pacific
8.2.1 China
8.2.2 India
8.2.3 South Korea
8.2.4 Japan
8.2.5 The Rest of Asia Pacific
8.3 North America
8.3.1 US
8.3.2 Canada
8.4 Europe
8.4.1 The UK
8.4.2 Germany
8.4.3 France
8.4.4 The Rest of Europe
8.5 Rest of the World
8.5.1 South Africa
8.5.2 Chile
8.5.3 Rest of RoW

9 Competitive Landscape
9.1 Overview
9.2 Key Players of the Advanced Energy Storage Systems Market
9.2.1 Growth Strategies in the Advanced Energy Storage System Market
9.3 Market Ranking, Advanced Energy Storage Systems, 2016
9.4 Competitive Situations & Trends
9.5 Competitive Leadership Mapping
9.5.1 Visionary Leaders
9.5.2 Dynamic Differentiators
9.5.3 Innovators
9.5.4 Emerging Companies
9.6 Strength of Product Portfolio (25 Companies)
9.7 Business Strategy Excellence (25 Companies)

10 Company Profiles
(Overview, Strength of Product Portfolio , Business Strategy Excellence , Products Offering, Recent Development’s, Business Strategy)*
10.1 LG Chem, Ltd.
10.2 ABB Ltd.
10.3 GS Yuasa Corporation
10.4 Samsung SDI Co., Ltd.
10.5 General Electric Company
10.6 Saft Groupe S.A.
10.7 Tesla, Inc.
10.8 Evapco, Inc.
10.9 Calmac
10.10 Baltimore Aircoil Company, Inc.
10.11 BYD Company Limited
10.12 Hitachi, Ltd.
10.13 Siemens AG
10.14 Panasonic Corporation
*Details on Overview, Strength of Product Portfolio, Business Strategy Excellence, Products Offering, Recent Development’s, Business Strategy Might Not Be Captured in Case of Unlisted Companies.

11 Appendix
11.1 Insights of Industry Experts
11.2 Discussion Guide
11.3 Knowledge Store: Subscription Portal
11.4 Introducing RT: Real-Time Market Intelligence
11.5 Available Customizations
11.6 Related Reports
11.7 Author Details

List of Tables
Table 1 Advanced Energy Storage Systems Market Snapshot
Table 2 Comparison of Major Energy Storage Technologies By Technical Characteristics
Table 3 Advanced Energy Storage Systems Market Size, By Application, 2015-2022 (USD Million)
Table 4 Transportation: Advanced Energy Storage Systems Market Size, By Region, 2015-2022 (USD Million)
Table 5 Grid Storage: Advanced Energy Storage Systems Market Size, By Region, 2015-2022 (USD Million)
Table 6 Advanced Energy Storage Systems Market Size, By Technology, 2015-2022 (USD Million)
Table 7 Electro Chemical: Advanced Energy Storage Systems Market Size, By Region, 2015-2022 (USD Million)
Table 8 Electro Chemical: Advanced Energy Storage Systems Market Size, By Technology, 2015-2022 (USD Million)
Table 9 Lithium-Ion Battery: Advanced Energy Storage Systems Market Size, By Region, 2015-2022 (USD Million)
Table 10 Lithium-Ion Battery: Advanced Energy Storage Systems Market Size, By Application, 2015-2022 (USD Million)
Table 11 Lead Acid Battery: Advanced Energy Storage Systems Market Size, By Region, 2015-2022 (USD Million)
Table 12 Sodium Sulfur (NAS) Battery: Advanced Energy Storage Systems Market Size, By Region, 2015-2022 (USD Million)
Table 13 Flow Battery: Advanced Energy Storage Systems Market Size, By Region, 2015-2022 (USD Million)
Table 14 Nickel Metal Hydride & Nickel Cadmium Battery: Advanced Energy Storage Systems Market Size, By Region, 2015-2022 (USD Million)
Table 15 Thermal: Advanced Energy Storage Systems Market Size, By Region, 2015-2022 (USD Million)
Table 16 Thermal: Advanced Energy Storage Systems Market Size, By Technology, 2015-2022 (USD Thousands)
Table 17 Thermo Chemical: Advanced Energy Storage Systems Market Size, By Region, 2015-2022 (USD Thousands)
Table 18 Sensible Heat Thermal: Advanced Energy Storage Systems Market Size, By Region, 2015-2022 (USD Thousands)
Table 19 Latent Heat Thermal: Advanced Energy Storage Systems Market Size, By Region, 2015-2022 (USD Thousands)
Table 20 Mechanical: Advanced Energy Storage Systems Market Size, By Region, 2015-2022 (USD Million)
Table 21 Mechanical: Advanced Energy Storage Systems Market Size, By Technology, 2015-2022 (USD Million)
Table 22 Pumped Hydro: Advanced Energy Storage Systems Market Size, By Region, 2015-2022 (USD Million)
Table 23 Flywheel: Advanced Energy Storage Systems Market Size, By Region, 2015-2022 (USD Million)
Table 24 Caes & Laes: Advanced Energy Storage Systems Market Size, By Region, 2015-2022 (USD Million)
Table 25 Others: Advanced Energy Storage Systems Market Size, By Region, 2015-2022 (USD Million)
Table 26 Advanced Energy Storage Systems Market Size, By Region, 2015- 2022 (USD Million)
Table 27 Asia Pacific: Advanced Energy Storage Systems Market Size, By Country, 2015-2022 (USD Million)
Table 28 Asia Pacific: Advanced Energy Storage Systems Market, By Application, 2015-2022 (USD Million)
Table 29 Asia Pacific: Transportation Advanced Energy Storage Systems Market, By Technology, 2015-2022 (USD Million)
Table 30 Asia Pacific: Advanced Energy Storage Systems Market, By Technology, 2015-2022 (USD Million)
Table 31 Asia Pacific: Advanced Energy Storage Systems Market, By Electro Chemical Technology, 2015-2022 (USD Million)
Table 32 Asia Pacific: Advanced Energy Storage Systems Market, By Thermal Storage Technology, 2015-2022 (USD Thousand)
Table 33 Asia Pacific: Advanced Energy Storage Systems Market, By Mechanical Technology, 2015-2022 (USD Million)
Table 34 China: Advanced Energy Storage Systems Market, By Application, 2015-2022 (USD Million)
Table 35 India: Advanced Energy Storage Systems Market, By Application, 2015-2022 (USD Million)
Table 36 South Korea: Advanced Energy Storage Systems Market, By Application, 2015-2022 (USD Million)
Table 37 Japan: Advanced Energy Storage Systems Market, By Application, 2015-2022 (USD Million)
Table 38 The Rest of Asia Pacific: Advanced Energy Storage Systems Market, By Application, 2015-2022 (USD Million)
Table 39 North America: Advanced Energy Storage Systems Market, By Country, 2015-2022 (USD Million)
Table 40 North America: Advanced Energy Storage Systems Market, By Application, 2015-2022 (USD Million)
Table 41 North America: Transportation Advanced Energy Storage Systems Market, By Technology, 2015-2022 (USD Million)
Table 42 North America: Advanced Energy Storage Systems Market, By Technology, 2015-2022 (USD Million)
Table 43 North America: Advanced Energy Storage Systems Market, By Electro Chemical Technology, 2015-2022 (USD Million)
Table 44 North America: Advanced Energy Storage Systems Market, By Thermal Storage Technology, 2015-2022 (USD Thousand)
Table 45 North America: Advanced Energy Storage Systems Market, By Mechanical Technology, 2015-2022 (USD Million)
Table 46 US: Advanced Energy Storage Systems Market, By Application, 2015-2022 (USD Million)
Table 47 Canada: Advanced Energy Storage Systems Market, By Application, 2015-2022 (USD Million)
Table 48 Europe: Advanced Energy Storage Systems Market, By Country, 2015-2022 (USD Million)
Table 49 Europe: Advanced Energy Storage Systems Market, By Application, 2015-2022 (USD Million)
Table 50 Europe: Transportation Advanced Energy Storage Systems Market, By Technology, 2015-2022 (USD Million)
Table 51 Europe: Advanced Energy Storage Systems Market, By Technology, 2015-2022 (USD Million)
Table 52 Europe: Advanced Energy Storage Systems Market, By Electro Chemical Technology, 2015-2022 (USD Million)
Table 53 Europe: Advanced Energy Storage Systems Market, By Thermal Storage Technology, 2015-2022 (USD Million)
Table 54 Europe: Advanced Energy Storage Systems Market, By Mechanical Technology, 2015-2022 (USD Million)
Table 55 The UK: Advanced Energy Storage Systems Market, By Application, 2015-2022 (USD Million)
Table 56 Germany: Advanced Energy Storage Systems Market, By Application, 2015-2022 (USD Million)
Table 57 France: Advanced Energy Storage Systems Market, By Application, 2015-2022 (USD Million)
Table 58 The Rest of Europe: Advanced Energy Storage Systems Market, By Application, 2015-2022 (USD Million)
Table 59 Rest of the World: Advanced Energy Storage Systems Market Size, By Country, 2015-2022 (USD Million)
Table 60 Rest of the World: Advanced Energy Storage System Market, By Application, 2015-2022 (USD Million)
Table 61 Rest of the World: Transportation Application Advanced Energy Storage Systems Market, By Technology, 2015-2022 (USD Million)
Table 62 Rest of the World: Advanced Energy Storage Systems Market, By Technology, 2015-2022 (USD Million)
Table 63 Rest of World: Advanced Energy Storage Systems Market, By Electro Chemical Technology, 2015-2022 (USD Million)
Table 64 Rest of the World: Advanced Energy Storage Systems Market, By Thermal Storage Technology, 2015-2022 (USD Million)
Table 65 Rest of the World: Advanced Energy Storage Systems Market, By Mechanical Technology, 2015-2022 (USD Million)
Table 66 South Africa: Advanced Energy Storage Systems Market, By Application, 2015-2022 (USD Million)
Table 67 Chile: Advanced Energy Storage Systems Market, By Application, 2015-2022 (USD Million)
Table 68 Rest of the World: Advanced Energy Storage Systems Market, By Application, 2015-2022 (USD Million)
Table 69 Market Ranking, 2016

List of Figures
Figure 1 Markets Covered: Advanced Energy Storage Systems Market Segmentation
Figure 2 Advanced Energy Storage Systems Market: Research Design
Figure 3 Breakdown of Primary Interviews: By Company Type, Designation, & Region
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation Methodology
Figure 7 Asia Pacific Dominated the Advanced Energy Storage Systems Market in 2016
Figure 8 Advanced Energy Storage Systems Market: Application Snapshot
Figure 9 Advanced Energy Storage Systems Market: Technologies Snapshot
Figure 10 Attractive Opportunities in the Advanced Energy Storage Systems Market
Figure 11 Asia Pacific is Expected to Dominate the Advanced Energy Storage Systems Market in 2017
Figure 12 The Transportation Segment is Expected to Hold the Largest Share During the Forecast Period
Figure 13 Asia Pacific to Dominate the Market for Transportation Application of Advanced Energy Storage Systems During the Forecast Period
Figure 14 Electro Chemical to Dominate the Market for Technology in the Advanced Energy Storage Systems During the Forecast Period
Figure 15 Market Dynamics: Advanced Energy Storage Systems Market
Figure 16 Investment in Renewable Energy Sources, 2004-2016 (USD Billion)
Figure 17 Transportation Application is Projected to Grow Rapidly During 2017-2022
Figure 18 Asia Pacific is Expected to Drive the Growth of Advanced Energy Storage Systems in the Transportation Application During 2017-2022
Figure 19 Asia Pacific is Expected to Drive the Growth of Advanced Energy Storage Systems in the Grid Storage Application During 2017-2022
Figure 20 Electro Chemical Advanced Energy Storage Systems Market is Projected to Grow Rapidly During 2017-2022
Figure 21 Asia Pacific is Expected to Grow Rapidly in the Electro Chemical Advanced Energy Storage Systems Market During 2017-2022
Figure 22 Lithium-Ion Battery is Expected to Grow Rapidly in the Electro Chemical Advanced Energy Storage Systems Market During 2017-2022
Figure 23 Asia Pacific is Expected to Grow Rapidly in the Lithium-Ion Battery Advanced Energy Storage Systems Market During 2017-2022
Figure 24 North America is Expected to Have the Highest Share in the Lead Acid Battery Energy Storage Market During 2017-2022
Figure 25 Europe is Expected to Be the Highest Growing Region for the NAS Battery Advanced Energy Storage Systems Market During 2017-2022
Figure 26 Asia Pacific is Expected to Be the Highest Growing Region for the Flow Battery Advanced Energy Storage Systems Market During 2017-2022
Figure 27 Asia Pacific is Expected to Be the Highest Growing Region for the NIMH & NICD Battery Advanced Energy Storage Systems Market During 2017-2022
Figure 28 Europe is Expected to Grow Rapidly in the Thermal Advanced Energy Storage Systems Market During 2017-2022
Figure 29 Sensible Thermal Storage Technology is Expected to Grow Rapidly During 2017-2022
Figure 30 Rest of the World is Estimated to Have the Maximum Share in the Sensible Heat Thermal Advanced Energy Storage Systems Market During 2017-2022
Figure 31 Rest of the World is Estimated to Have the Maximum Share in the Latent Heat Thermal Advanced Energy Storage Systems Market During 2017-2022
Figure 32 Europe is Expected to Grow Rapidly in the Mechanical Energy Advanced Storage Systems Market During 2017-2022
Figure 33 Pumped Hydro Storage is Expected to Grow Rapidly in the Mechanical Advanced Energy Storage Systems Market During 2017-2022
Figure 34 Europe is Expected to Be the Highest Growing Region for the Pumped Hydro Advanced Energy Storage Systems Market During 2017-2022
Figure 35 North America is Estimated to Have the Maximum Share in the Flywheel Advanced Energy Storage Systems Market During 2017-2022
Figure 36 North America is Expected to Have the Largest Share in the Caes & Laes Advanced Energy Storage Systems Market During 2017-2022
Figure 37 North America has the Largest Share in the Other Advanced Energy Storage Systems Market
Figure 38 Regional Snapshot:South Korea, China and India are the Fastest Growing Countries, By Value, During the Forecast Period
Figure 39 Advanced Energy Storage Systems Market Share (Value), By Region, 2017
Figure 40 Asia Pacific, Advanced Energy Storage Systems Market Snapshot
Figure 41 North America, Advanced Energy Storage Systems Market Snapshot
Figure 42 Companies Adopted New Product Launches and Contracts and Agreements as Key Strategies to Capture the Market, 2013- July 2017
Figure 43 Market Evaluation Framework: New Product Launches, Mergers & Acquisitions, and Contracts & Agreements Have Fueled the Growth of Companies, 2013- July 2017
Figure 44 Advanced Energy Storage System Market (Global): Competitive Leadership Mapping, 2017
Figure 45 LG Chem, Ltd.: Company Snapshot
Figure 46 ABB Ltd.: Company Snapshot
Figure 47 GS Yuasa Corporation: Company Snapshot
Figure 48 Samsung SDI Co., Ltd.: Company Snapshot
Figure 49 General Electric Company: Company Snapshot
Figure 50 Tesla, Inc.: Company Snapshot
Figure 51 BYD Company Limited: Company Snapshot
Figure 52 Hitachi, Ltd.: Company Snapshot
Figure 53 Siemens AG: Company Snapshot
Figure 54 Panasonic Corporation: Company Snapshot

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  • ABB Ltd.
  • BYD Company Limited
  • Baltimore Aircoil Company, Inc.
  • Calmac
  • Evapco, Inc.
  • GS Yuasa Corporation
  • General Electric Company
  • Hitachi, Ltd.
  • LG Chem, Ltd.
  • Panasonic Corporation
  • Saft Groupe S.A.
  • Samsung SDI Co., Ltd.
  • Siemens AG
  • Tesla, Inc.
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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