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Energy Storage Battery for Microgrids Market by Type, and Application - Segment Forecasts 2018 to 2026

  • ID: 5229275
  • Report
  • March 2020
  • Region: Global
  • 245 pages
  • Reports and Data
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FEATURED COMPANIES

  • ATL
  • CALB
  • EnSync
  • MHI
  • NGK Group
  • Rongke Power
  • MORE
Energy Storage Battery For Microgrids Market to Reach USD 411.2 Million By 2027

The burgeoning need for sustainable resources of energy across various industry verticals is stimulating the growth of the energy storage battery for microgrids industry.

Market Size - USD 186.7 million in 2019, Market Growth - CAGR of 9.72%, Market Trends - The increasing need for convergence of microgrid technology and energy storage systems.

The Global Energy Storage Battery for Microgrids Market size is estimated to reach USD 411.2 million from USD 186.7 million in 2019, at a CAGR of 9.72% through 2027. The market growth is driven by rising prices of electricity and a paradigm shift towards battery-based energy storage systems for microgrids.

The introduction of sustainable energy fuels, such as wind and solar PV, into microgrids, is positively favoring the industry growth. Moreover, reduced fuel consumption, major adoption of energy storage products for residential use, and increasing focus on the convergence of microgrid technology and the energy storage for remote microgrid applications will bolster energy storage battery for microgrids market growth in the forecast period. However, high product deployment costs and lack of universal acceptance may restrain the industry growth.

Further Key Findings From the Report Suggest
  • The Global Energy Storage Battery for Microgrids Market size is estimated to reach USD 411.2 million from USD 186.7 million in 2019, at a CAGR of 9.72% through 2027. The market growth is driven by rising prices of electricity and a paradigm shift towards battery-based energy storage systems for microgrids.
  • Based on type, the energy storage battery for microgrids market is segmented into VRLA lead-acid, lithium-ion, sodium-sulfur battery, and others. The Lithium-ion batteries segment is witnessing major growth and is likely to exhibit a CAGR of 10.92% over the analysis period. The growing product demand can be attributed to the various advantages offered, such as reliability, durability, lightweight, high energy, and power density in terms of volume, low maintenance needs, and high efficiency in terms of charge/discharge.
  • Based on application, the energy storage battery for microgrids market is segmented into enterprise, utility, and household or residential. The utilities application segment is anticipated to register the highest CAGR of 10.07% over the projected timeframe. Utilities suffer a lot of frequency, voltage deviations, and power fluctuations, which results in damage to the equipment. The extensive accommodation of battery energy storage systems in utilities to resolve this issue with this cost-effective alternative to the conventional infrastructure is expected to bolster segmental growth.
  • In the regional landscape, the APAC region is estimated to contribute significantly to the energy storage battery for microgrids market share, exhibiting a growth rate of 15.65% through 2027. The robust growth can be attributed to the increasing Japanese government investment in the battery storage industry. Some of the leading players like GS Yuasa, Hitachi, Panasonic, Mitsubishi, and NEC, are also based in Japan. Estimates suggest that the region alone will hold more than 50% of the global battery storage market share in the coming years.
  • North America is forecast to account for 22% of the global industry share over the analysis period on account of the growing demand for sustainable sources of energy in the region.
  • Major players contributing to the Global Energy Storage Battery for Microgrids Market share are Samsung SDI, NGK Group, NEC, MHI, Panasonic, S&C Electric, Toshiba, Beacon Power, Saft, CALMAC, Sumitomo Electric, Eos Energy Storage, EnSync, OutBack Power, BYD, Younicos, CALB, Rongke Power, ATL, Shen-li High Tech, Chilwee, Meineng, and Narada, among others.
For the purpose of this report, the global energy storage battery for microgrids market has been segmented on the basis of type, application, and region.

Product Type Outlook Revenue, USD Million; 2017-2027
  • Sodium-sulfur battery
  • VRLA Lead Acid
  • Lithium-ion
  • Others
Application Outlook Revenue, USD Million; 2017-2027
  • Household or residential
  • Enterprise
  • Utility
Regional Outlook Revenue, USD Million; 2017-2027
  • North America
  • U.S.
  • Europe
  • Germany
  • France
  • U.K.
  • Asia Pacific
  • China
  • Japan
  • India
  • Latin America
  • Brazil
  • Middle East & Africa
Reasons to Buy the Report
  • A robust analysis and estimation of the Energy Storage Battery For Microgrids Market with four levels of quality check - in-house database, expert interviews, governmental regulation, and a forecast specifically done through time series analysis
  • A holistic competitive landscape of the all the major players in Energy Storage Battery For Microgrids market. The report covers their market shares, strategic initiatives, new product launches, R&D expenditure, M&As, Joint ventures, expansionary plans, product wise metric space analysis and key developments
  • Go-to-market strategies specifically formulated in line with location analysis which takes into the factors such as government regulations, supplier mapping, supply chain obstacles, and feedback from local vendors
  • Most deep dive segmental bifurcation available currently in the market. Our stellar methodology helps us understand the overall gamut of the supply chain and will help you explain the current market dynamics
  • Special focus given on vendor landscape, supplier portfolio, customer mapping, production capacity, and yearly capacity utilization
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • ATL
  • CALB
  • EnSync
  • MHI
  • NGK Group
  • Rongke Power
  • MORE
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique

Chapter 2. Executive Summary
2.1. Summary Snapshot, 2016-2026

Chapter 3. Indicative Metrics
3.1. Macro Indicators
3.1.1. Global consumption of li-ion batteries in various industries
3.1.2. Contribution of battery-based energy storage systems to global growth of microgrid market
3.1.3. Region-wise consumption of electricity for residential purposes

Chapter 4. Energy Storage Battery for Microgrids Market Segmentation & Impact Analysis
4.1. Energy Storage Battery for Microgrids Segmentation Analysis
4.2. Industrial Outlook
4.3. Regulatory Framework
4.4. Energy Storage Battery for Microgrids Market Impact Analysis
4.4.1. Market driver analysis
4.4.1.1. Introduction of sustainable energy fuels, thus, replacing natural gas or diesel fuels with renewable fuels, such as solar PV and wind, into microgrids, reducing the fuel consumption
4.4.1.2. Rising demand of energy storage products for residential use
4.4.1.3. Increasing need for convergence of the energy storage and microgrid technology markets, since they constitute an advanced battery for grid-tied and remote microgrid applications
4.4.1.4. Rising prices of electricity, giving a path to the growth of battery-based energy storage systems for microgrids
4.4.2. Market restraint analysis
4.4.2.1. Lack of universal acceptance
4.4.2.2. High deployment cost
4.5. Key opportunities prioritized

Chapter 5. Energy Storage Battery for Microgrids Market By Type Insights & Trends
5.1. Type Dynamics & Market Share, 2019 & 2026
5.2. Sodium-sulfur battery
5.2.1. Market estimates and forecast, 2016 - 2026 (USD Million)
5.2.2. Market estimates and forecast, by region, 2016 - 2026 (USD Million)
5.3. VRLA Lead Acid
5.3.1. Market estimates and forecast, 2016 - 2026 (USD Million)
5.3.2. Market estimates and forecast, by region, 2016 - 2026 (USD Million)
5.4. Lithium-ion
5.4.1. Market estimates and forecast, 2016 - 2026 (USD Million)
5.4.2. Market estimates and forecast, by region, 2016 - 2026 (USD Million)
5.5. Others
5.5.1. Market estimates and forecast, 2016 - 2026 (USD Million)
5.5.2. Market estimates and forecast, by region, 2016 - 2026 (USD Million)

Chapter 6. Energy Storage Battery for Microgrids Market By Application Insights & Trends
6.1. Application Dynamics & Market Share, 2019 & 2026
6.2. Household or Residential
6.2.1. Market estimates and forecast, 2016 - 2026 (USD Million)
6.2.2. Market estimates and forecast, by region, 2016 - 2026 (USD Million)
6.3. Enterprise
6.3.1. Market estimates and forecast, 2016 - 2026 (USD Million)
6.3.2. Market estimates and forecast, by region, 2016 - 2026 (USD Million)
6.4. Utility
6.4.1. Market estimates and forecast, 2016 - 2026 (USD Million)
6.4.2. Market estimates and forecast, by region, 2016 - 2026 (USD Million)

Chapter 7. Energy Storage Battery for Microgrids Market Regional Outlook
7.1. Energy Storage Battery for Microgrids Market share by region, 2019 & 2026
7.2. North America
7.2.1. North America Energy Storage Battery for Microgrids Market estimates and forecast, 2016 - 2026, (USD Million)
7.2.2. North America Energy Storage Battery for Microgrids Market estimates and forecast By Type, 2016 -2026, (USD Million)
7.2.3. North America Energy Storage Battery for Microgrids Market estimates and forecast by Application, 2016 -2026, (USD Million)
7.2.4. US
7.2.4.1. US Energy Storage Battery for Microgrids Market estimates and forecast, 2016 - 2026, (USD Million)
7.2.4.2. US Energy Storage Battery for Microgrids Market estimates and forecast By Type, 2016 -2026, (USD Million)
7.2.4.3. US Energy Storage Battery for Microgrids Market estimates and forecast by Application, 2016 -2026, (USD Million)
7.3. Europe
7.3.1. Europe Energy Storage Battery for Microgrids Market estimates and forecast, 2016 - 2026, (USD Million)
7.3.2. Europe Energy Storage Battery for Microgrids Market estimates and forecast By Type, 2016 -2026, (USD Million)
7.3.3. Europe Energy Storage Battery for Microgrids Market estimates and forecast by Application, 2016 -2026, (USD Million)
7.3.4. Germany
7.3.4.1. Germany Energy Storage Battery for Microgrids Market estimates and forecast, 2016 - 2026, (USD Million)
7.3.4.2. Germany Energy Storage Battery for Microgrids Market estimates and forecast By Type, 2016 -2026, (USD Million)
7.3.4.3. Germany Energy Storage Battery for Microgrids Market estimates and forecast by Application, 2016 -2026, (USD Million)
7.3.5. UK
7.3.5.1. UK Energy Storage Battery for Microgrids Market estimates and forecast, 2016 - 2026, (USD Million)
7.3.5.2. UK Energy Storage Battery for Microgrids Market estimates and forecast By Type, 2016 -2026, (USD Million)
7.3.5.3. UK Energy Storage Battery for Microgrids Market estimates and forecast by Application, 2016 -2026, (USD Million)
7.3.6. France
7.3.6.1. France Energy Storage Battery for Microgrids Market estimates and forecast, 2016 - 2026, (USD Million)
7.3.6.2. France Energy Storage Battery for Microgrids Market estimates and forecast By Type, 2016 -2026, (USD Million)
7.3.6.3. France Energy Storage Battery for Microgrids Market estimates and forecast by Application, 2016 -2026, (USD Million)
7.4. Asia Pacific
7.4.1. Asia Pacific Energy Storage Battery for Microgrids Market estimates and forecast, 2016 - 2026, (USD Million)
7.4.2. Asia Pacific Energy Storage Battery for Microgrids Market estimates and forecast By Type, 2016 -2026, (USD Million)
7.4.3. Asia Pacific Energy Storage Battery for Microgrids Market estimates and forecast by Application, 2016 -2026, (USD Million)
7.4.4. China
7.4.4.1. China Energy Storage Battery for Microgrids Market estimates and forecast, 2016 - 2026, (USD Million)
7.4.4.2. China Energy Storage Battery for Microgrids Market estimates and forecast By Type, 2016 -2026, (USD Million)
7.4.4.3. China Energy Storage Battery for Microgrids Market estimates and forecast by Application, 2016 -2026, (USD Million)
7.4.5. India
7.4.5.1. India Energy Storage Battery for Microgrids Market estimates and forecast, 2016 - 2026, (USD Million)
7.4.5.2. India Energy Storage Battery for Microgrids Market estimates and forecast By Type, 2016 -2026, (USD Million)
7.4.5.3. India Energy Storage Battery for Microgrids Market estimates and forecast by Application, 2016 -2026, (USD Million)
7.4.6. Japan
7.4.6.1. Japan Energy Storage Battery for Microgrids Market estimates and forecast, 2016 - 2026, (USD Million)
7.4.6.2. Japan Energy Storage Battery for Microgrids Market estimates and forecast By Type, 2016 -2026, (USD Million)
7.4.6.3. Japan Energy Storage Battery for Microgrids Market estimates and forecast by Application, 2016 -2026, (USD Million)
7.5. Middle East & Africa
7.5.1. MEA Energy Storage Battery for Microgrids Market estimates and forecast, 2016 - 2026, (USD Million)
7.5.2. MEA Energy Storage Battery for Microgrids Market estimates and forecast By Type, 2016 -2026, (USD Million)
7.5.3. MEA Energy Storage Battery for Microgrids Market estimates and forecast by Application, 2016 -2026, (USD Million)
7.6. Latin America
7.6.1. Latin America Energy Storage Battery for Microgrids Market estimates and forecast, 2016 - 2026, (USD Million)
7.6.2. Latin America Energy Storage Battery for Microgrids Market estimates and forecast By Type, 2016 -2026, (USD Million)
7.6.3. Latin America Energy Storage Battery for Microgrids Market estimates and forecast by Application, 2016 -2026, (USD Million)
7.6.4. Brazil
7.6.4.1. Brazil Energy Storage Battery for Microgrids Market estimates and forecast, 2016 - 2026, (USD Million)
7.6.4.2. Brazil Energy Storage Battery for Microgrids Market estimates and forecast By Type, 2016 -2026, (USD Million)
7.6.4.3. Brazil Energy Storage Battery for Microgrids Market estimates and forecast by Application, 2016 -2026, (USD Million)

Chapter 8. Competitive Landscape
8.1. Market Revenue Share by Manufacturers
8.2. Manufacturing Cost Breakdown Analysis
8.3. Mergers & Acquisitions
8.4. Market positioning
8.5. Strategy Benchmarking
8.6. Vendor Landscape

Chapter 9. Company Profiles
9.1. NGK Group
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. Type Insights
9.1.4. Strategic Initiatives
9.2. Samsung SDI
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. Type Insights
9.2.4. Strategic Initiatives
9.3. NEC
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. Type Insights
9.3.4. Strategic Initiatives
9.4. Panasonic
9.4.1. Company Overview
9.4.2. Financial Performance
9.4.3. Type Insights
9.4.4. Strategic Initiatives
9.5. MHI
9.5.1. Company Overview
9.5.2. Financial Performance
9.5.3. Type Insights
9.5.4. Strategic Initiatives
9.6. Toshiba
9.6.1. Company Overview
9.6.2. Financial Performance
9.6.3. Type Insights
9.6.4. Strategic Initiatives
9.7. S&C Electric
9.7.1. Company Overview
9.7.2. Financial Performance
9.7.3. Type Insights
9.7.4. Strategic Initiatives
9.8. Beacon Power
9.8.1. Company Overview
9.8.2. Financial Performance
9.8.3. Type Insights
9.8.4. Strategic Initiatives
9.9. CALMAC
9.9.1. Company Overview
9.9.2. Financial Performance
9.9.3. Type Insights
9.9.4. Strategic Initiatives
9.10. Saft
9.10.1. Company Overview
9.10.2. Financial Performance
9.10.3. Type Insights
9.10.4. Strategic Initiatives
9.11. Sumitomo Electric
9.11.1. Company Overview
9.11.2. Financial Performance
9.11.3. Type Insights
9.11.4. Strategic Initiatives
Note: Product cover images may vary from those shown
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  • NGK Group
  • Samsung SDI
  • NEC
  • Panasonic
  • MHI
  • Toshiba
  • S&C Electric
  • Beacon Power
  • CALMAC
  • Saft
  • Sumitomo Electric
  • EnSync
  • Eos Energy Storage
  • OutBack Power
  • Younicos
  • BYD
  • CALB
  • ATL
  • Rongke Power
  • Shen-li High Tech
  • Meineng
  • Chilwee
  • Narada
Note: Product cover images may vary from those shown
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