Energy Storage Systems (ESS) - Thematic Research

Summary

In the electricity distribution sector, investment into energy storage systems (ESS) creates long term reliability and resilience. ESS are used to store energy for later use. ESS serves as a crucial hub for the entire electricity grid, right from managing power during peak load periods, enabling energy management, and boosting the quality and reliability of power, to helping decrease environmental impacts. Energy storage also smooths the integration of variable or intermittent renewable energy sources into the grid, by matching supply with demand.

The key ESS technologies are pumped hydroelectric storage (PHS), compressed air energy storage (CAES), flywheels, batteries, and capacitors. According to the International Renewable Energy Agency's (IRENA) Renewable Energy Roadmap 2030, 475 gigawatts (GW) of ESS would be required to meet the target of 45% power from renewable energy sources in the energy mix by 2030. Recently, Lithium-ion (Li-ion) has gained pre-eminence as the leading battery technology because of its higher efficiency compared to other battery technologies. Other promising battery technologies for the future include sodium-ion (NIB) batteries and redox flow batteries.

The energy storage sector is witnessing a rapid growth globally. The potential applications of ESS have gained attention of a number of stakeholders across the value chain, boosting its considerable growth and paving the way for the next phase of the energy transition. ESS installations linked to the electricity grid and ancillary services will witness growth in the coming years because of key drivers such as increased variable renewables integration, rising energy demand, asset retirements, along with smart digital technology innovation.

Scope

• This report analyses energy storage technology.
• The report highlights some of the global equipment manufacturers in the three major energy storage technologies which are mechanical, electrochemical, and thermal energy storage
• It identifies the leaders and laggards within the energy storage industry and where do they sit in the value chain.
• It analyses technology, macroeconomic and regulatory trends across the energy storage industry.
• It provides an industry analysis of the energy storage sector, highlights COVID-19 impact on energy storage market, energy storage case studies and major mergers and acquisitions in the energy storage sector.
• It identifies companies at the forefront of energy storage industry.

Reasons to Buy

• The report provides a comprehensive analysis of the present scenario and emerging market trends in the global energy storage industry.
• To gain insights of the global leaders and challengers in the energy storage market for the three primary types of energy storage technologies: mechanical storage, electrochemical storage and thermal storage.
• Industry analysis of the energy storage market.
• Provide detailed information on COVOD-19 impact on energy storage market and energy storage case studies.
• Provide detailed information regarding major mergers and acquisitions related to energy storage theme.
• Major market players within the energy storage industry are profiled in this report and their action plans are studied thoroughly, which aid in interpreting the competitive outlook of the energy storage sector.