+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

PRINTER FRIENDLY

Global Energy Storage Systems Market Size, Share & Trends Analysis Report by Technology (Pumped Hydro, Electrochemical Storage, Electromechanical Storage, Thermal Storage), Region, and Segment Forecasts, 2021-2028

  • ID: 5513877
  • Report
  • December 2021
  • Region: Global
  • 66 Pages
  • Grand View Research

FEATURED COMPANIES

  • Altairnano
  • Ecoult
  • Electrovaya
  • Fluence
  • GENERAL ELECTRIC
  • Kokam
The global energy storage systems market demand is expected to reach 402.0 GW by 2028, according to the report. The market is expected to expand at a CAGR of 9.6% from 2021 to 2028. Growing demand for efficient and competitive energy resources, increasing development for variable energy sources, and rising battery demand are factors anticipated to fuel the demand for energy storage systems.



Increasing acceptance of electric and hybrid vehicles coupled with government incentives offered for promoting EV technology is projected to boost the growth of electric cars as well as battery industries. While battery service networks are yet to improve and surpass the gasoline fueling infrastructure, volatile gasoline prices are expected to positively influence the demand for electric vehicles over the forecast period.

The electrochemical storage segment is expected to witness the fastest growth over the forthcoming years. This growth can be attributed to the beneficial characteristics of batteries including fast charging, declining prices, and long shelf life. Flow batteries are anticipated to observe an increased demand on account of their low safety risks, improved capacity, and cost-effectiveness.

Battery Energy Storage Systems (BESS) are gaining popularity owing to the rising emphasis on reducing the dependency on fossil fuels and increasing the share of clean energy in the energy mix. Ascending demand for time-shifting improved power quality, better grid network usage, and emergency power supply is expected to propel the demand for BESS over the forecast period.

With increasing requirements of efficient grid management, constant load management, and continuous power supply, the market is expected to witness significant growth over the forecast period. Major manufacturers of thermal energy storage systems include Abengoa Solar, Evapco, Caldwell Energy, and Burns & McDonnell. Major TES companies are forward integrated and offer energy solutions such as microgrids, CHP, cogeneration, district heating, and cooling.

Energy Storage Systems Market Report Highlights

  • In terms of technology, the pumped hydro segment accounted for a prominent share in the market in 2020 and is further expected to witness prominent growth over the forecast period
  • As of 2020, Asia Pacific accounted for more than 45.0% market share. Growing reliable power demand due to rising population and industrial advancements in major economies, such as China and India, is expected to drive the regional market
  • Rising consumer awareness regarding energy efficiency in commercial and residential buildings is expected to further promote market growth. The growing trend of renewable source-based power generation, along with the increasing need for distributed electricity generation, is anticipated to propel market growth over the forecast period
  • Energy storage technologies allow power suppliers to save excess electricity for later use, thereby enhancing the grid reliability and flexibility with respect to electricity generation, transmission, and distribution. Heat stored by short-term and seasonal thermal energy storage systems helps balance the variations in the production and distribution of renewable electricity in a cost-effective manner
  • Furthermore, the demand for continuous power is anticipated to attain exponential growth in the years to come owing to rapid industrialization, infrastructure development, and continuous population growth over the coming years. This trend is expected to positively influence the energy storage industry landscape


This product will be delivered within 1-3 business days.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Altairnano
  • Ecoult
  • Electrovaya
  • Fluence
  • GENERAL ELECTRIC
  • Kokam

Chapter 1. Methodology and Scope
1.1 Research Methodology
1.2 Research Scope and Assumptions
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 Internal Database
1.3.3 Secondary Sources
1.3.4 Third Party Perspective
1.3.5 Primary Research
1.4 Information Analysis
1.4.1 Data Analysis Models
1.5 Market Formulation and Data Visualization
1.6 Data Validation and Publishing
1.7 List of Abbreviations
Chapter 2. Executive Summary
2.1 Market snapshot
Chapter 3. Energy Storage Systems Market Variables, Trends, & Scope
3.1 Market Segmentation
3.2 Market Size and Growth Prospects
3.3 Energy Storage Systems Market- Value Chain Analysis
3.4 Raw material trends
3.4.1 Steel
3.4.2 Carbon fiber
3.5 Regulatory scenario
3.6 Energy storage systems market dynamics
3.6.1 Market Driver Analysis
3.6.1.1 growing demand for efficient and competitive energy resources
3.6.1.2 Increasing development of variable energy sources
3.6.1.3 Rising battery demand
3.6.2 Market restraint Analysis
3.6.2.1 Lack of long-term energy storage
3.7 Energy Storage Systems Market- Porter’s Analysis
3.8 Energy Storage Systems Market- PESTEL Analysis
Chapter 4. Energy Storage Systems Market: Technology Estimates & Trend Analysis
4.1 Energy Storage Systems Market: Technology movement analysis, 2020 & 2028
4.2 Pumped Hydro
4.2.1 Pumped hydro storage Systems market estimates and forecasts, 2017 - 2028 (MW)
4.3 Electrochemical Storage
4.3.1 Electrochemical storage Systems market estimates and forecasts, 2017 - 2028 (MW)
4.4 Electromechanical Storage
4.4.1 Electromechanical storage Systems market estimates and forecasts, 2017 - 2028 (MW)
4.5 Thermal Storage
4.5.1 Thermal storage systems market estimates and forecasts, 2017 - 2028 (MW)
Chapter 5. Energy Storage Systems Market: Regional Estimates & Trend Analysis
5.1 Regional Movement Analysis & Market Share, 2020 & 2028
5.2 North America
5.2.1 North America energy storage Systems market estimates and forecasts, 2017 - 2028 (MW)
5.2.2 North America energy storage Systems makret estimates and forecasts, by technology (MW)
5.2.3 U.S.
5.2.3.1 U.S. Energy Storage Systems Market estimates and forecasts, 2017 - 2028 (MW)
5.2.3.2 U.S. Energy storage MArket estimates and forecasts, by Technology (MW)
5.2.4 Canada
5.2.4.1 Canada Energy Storage Systems Market estimates and forecasts, 2017 - 2028 (MW)
5.2.4.2 Canada Energy storage Market estimates and forecasts, by Technology (MW)
5.2.5 Mexico
5.2.5.1 Mexico Energy Storage Systems Market estimates and forecasts, 2017 - 2028 (MW)
5.2.5.2 Mexico Energy storage Market estimates and forecasts, by Technology (MW)
5.3 Europe
5.3.1 Europe Energy Storage Systems Market estimates and forecasts, 2017 - 2028 (MW)
5.3.2 Europe energy storage systems estimates and forecasts, by Technology (MW)
5.3.3 France
5.3.3.1 France Energy Storage Systems Market estimates and forecasts, 2017 - 2028 (MW)
5.3.3.2 France Energy storage Systems estimates and forecasts, by Technology (MW)
5.3.4 Germany
5.3.4.1 Germany Energy Storage Systems Market estimates and forecasts, 2017 - 2028 (MW)
5.3.4.2 Germany energy storage systems estimates and forecasts, by Technology (MW)
5.3.5 U.K.
5.3.5.1 U.K. Energy Storage Systems Market estimates and forecasts, 2017 - 2028 (MW)
5.3.5.2 U.K. energy storage Systems estimates and forecasts, by Technology (MW)
5.4 Asia Pacific
5.4.1 Asia Pacific Energy Storage Systems Market estimates and forecasts, 2017 - 2028 (MW)
5.4.2 Asia Pacific energy storage systems estimates and forecasts, by Technology (MW)
5.4.3 China
5.4.3.1 China Energy Storage Systems Market estimates and forecasts, 2017 - 2028 (MW)
5.4.3.2 China energy storage systems estimates and forecasts, by Technology (MW)
5.4.4 India
5.4.4.1 India Energy Storage Systems Market estimates and forecasts, 2017 - 2028 (MW)
5.4.4.2 India energy storage systems estimates and forecasts, by Technology (MW)
5.4.5 Japan
5.4.5.1 Japan Energy Storage Systems Market estimates and forecasts, 2017 - 2028 (MW)
5.4.5.2 Japan Energy storage systems estimates and forecasts, by Technology (MW)
5.5 Central & South America
5.5.1 Central & South America Energy Storage Systems Market estimates and forecasts, 2017 - 2028 (MW)
5.5.2 Central & South America Energy storage systems estimates and forecasts, by Technology (MW)
5.5.3 Argentina
5.5.3.1 Argentina Energy Storage Systems Market estimates and forecasts, 2017 - 2028 (MW)
5.5.3.2 Argentina Energy storage systems estimates and forecasts, by Technology (MW)
5.6 Middle East & Africa
5.6.1 Middle East & Africa Energy Storage Systems Market estimates and forecasts, 2017 - 2028 (MW)
5.6.2 Middle East & Africa Energy storage systems estimates and forecasts, by Technology (MW)
5.6.3 South Africa
5.6.3.1 South Africa Energy Storage Systems Market estimates and forecasts, 2017 - 2028 (MW)
5.6.3.2 South Africa Energy storage systems estimates and forecasts, by Technology (MW)
Chapter 6. Competitive Analysis
6.1 Vendor Landscape
6.2 List of End-Users
6.3 Competitive environment
6.4 Strategic framework
6.4.1 Product Strategy
6.4.2 Operational strategy
6.4.3 Expansion strategy
Chapter 7. Company Profiles
7.1 GENERAL ELECTRIC
7.1.1 Company Overview
7.1.2 Financial Performance
7.1.3 Product Benchmarking
7.1.4 Strategic Initiatives
7.2 LG Chem
7.2.1 Company Overview
7.2.2 Financial Performance
7.2.3 Product Benchmarking
7.2.4 Strategic Initiatives
7.3 Langley Holdings Plc
7.3.1 Company Overview
7.3.2 Financial Performance
7.3.3 Product Benchmarking
7.3.4 Strategic Initiatives
7.4 Altairnano
7.4.1 Company Overview
7.4.2 Product Benchmarking
7.5 Electrovaya
7.5.1 Company Overview
7.5.2 Product Benchmarking
7.5.3 Strategic Initiatives
7.6 Showa Denko Materials Co., Ltd.
7.6.1 Company Overview
7.6.2 Financial Performance
7.6.3 Product Benchmarking
7.6.4 Strategic Initiatives
7.7 Maxwell Technologies, Inc.
7.7.1 Company Overview
7.7.2 Product Benchmarking
7.7.3 Strategic Initiatives
7.8 Saft
7.8.1 Company Overview
7.8.2 Product Benchmarking
7.8.3 Strategic Initiatives
7.9 THE FURUKAWA BATTERY CO., LTD.
7.9.1 Company Overview
7.9.2 Financial Performance
7.9.3 Product Benchmarking
7.9.4 Strategic Initiatives
7.10 Ecoult
7.10.1 Company Overview
7.10.2 Product Benchmarking
7.10.3 Strategic Initiatives
7.11 Kokam
7.11.1 Company Overview
7.11.2 Product Benchmarking
7.11.3 Strategic Initiatives
7.12 Fluence
7.12.1 Company Overview
7.12.2 Product Benchmarking
7.12.3 Strategic Initiatives
7.13 Samsung SDI Co., Ltd.
7.13.1 Company Overview
7.13.2 Financial Performance
7.13.3 Product Benchmarking
7.13.4 Strategic Initiatives
List of Tables
Table 1 List of Abbreviations
Table 2 Pumped hydro storage systems market estimates and forecast, 2017 - 2028 (MW)
Table 3 Electrochemical storage systems market estimates and forecast, 2017 - 2028 (MW)
Table 4 Electromechanical storage systems market estimates and forecast, 2017 - 2028 (MW)
Table 5 Thermal storage systems market estimates and forecast, 2017 - 2028 (MW)
Table 6 North America energy storage systems market, 2017 - 2028 (MW)
Table 7 North America energy storage systems market estimates and forecast, by technology, 2017 - 2028 (MW)
Table 8 U.S. energy storage systems market, 2017 - 2028 (MW)
Table 9 U.S. energy storage market estimates and forecast, by technology, 2017 - 2028 (MW)
Table 10 Canada energy storage systems market, 2017 - 2028 (MW)
Table 11 Canada energy storage market estimates and forecast, by technology, 2017 - 2028 (MW)
Table 12 Mexico energy storage systems market, 2017 - 2028 (MW)
Table 13 Mexico energy storage market estimates and forecast, by technology, 2017 - 2028 (MW)
Table 14 Europe energy storage systems market, 2017 - 2028 (MW)
Table 15 Europe energy storage systems estimates and forecast, by technology, 2017 - 2028 (MW)
Table 16 France energy storage systems market, 2017 - 2028 (MW)
Table 17 France energy storage systems estimates and forecast, by technology, 2017 - 2028 (MW)
Table 18 Germany energy storage systems market, 2017 - 2028 (MW)
Table 19 Germany energy storage systems estimates and forecast, by technology, 2017 - 2028 (MW)
Table 20 U.K. energy storage systems market, 2017 - 2028 (MW)
Table 21 U.K. energy storage systems estimates and forecast, by technology, 2017 - 2028 (MW)
Table 22 Asia Pacific energy storage systems market, 2017 - 2028 (MW)
Table 23 Asia Pacific energy storage systems estimates and forecast, by technology, 2017 - 2028 (MW)
Table 24 China energy storage systems market, 2017 - 2028 (MW)
Table 25 China energy storage systems estimates and forecast, by technology, 2017 - 2028 (MW)
Table 26 India energy storage systems market, 2017 - 2028 (MW)
Table 27 India energy storage systems estimates and forecast, by technology, 2018 - 2026 (MW)
Table 28 Japan energy storage systems market, 2017 - 2028 (MW)
Table 29 Japan energy storage systems estimates and forecast, by technology, 2017 - 2028 (MW)
Table 30 Central & South America energy storage systems market, 2017 - 2028 (MW)
Table 31 Central & South America energy storage systems estimates and forecast, by technology, 2017 - 2028 (MW)
Table 32 Argentina energy storage systems market, 2017 - 2028 (MW)
Table 33 Argentina energy storage systems estimates and forecast, by technology, 2017 - 2028 (MW)
Table 34 Middle East & Africa energy storage systems market, 2017 - 2028 (MW)
Table 35 Middle East & Africa energy storage systems estimates and forecast, by technology, 2017 - 2028 (MW)
Table 36 South Africa energy storage systems market, 2017 - 2028 (MW)
Table 37 South Africa energy storage systems estimates and forecast, by technology, 2017 - 2028 (MW)
List of Figures
Fig. 1 Information procurement
Fig. 2 Primary research pattern
Fig. 3 Primary research process
Fig. 4 Primary research approaches
Fig. 5 Global Energy Storage Systems Market snapshot, 2020 (MW)
Fig. 6 Energy Storage Systems Market Segmentation
Fig. 7 Global Energy Storage Systems Market Size and Growth Prospects, 2017 - 2028 (MW)
Fig. 8 Energy storage systems market: Value chain analysis
Fig. 9 Energy storage systems market dynamics
Fig. 10 Energy Storage Systems Market - Porter’s Analysis
Fig. 11 Energy Storage Systems Market - PESTEL Analysis
Fig. 12 Energy Storage Systems Market: Technology movement analysis, 2020 & 2028
Fig. 13 Energy Storage Systems Market: Regional movement analysis, 2020 & 2028
Fig. 14 Strategy Framework
Note: Product cover images may vary from those shown
  • GENERAL ELECTRIC
  • LG Chem
  • Langley Holdings Plc
  • Altairnano
  • Electrovaya
  • Showa Denko Materials Co. Ltd.
  • Maxwell Technologies, Inc.
  • Saft
  • THE FURUKAWA BATTERY CO. LTD.
  • Ecoult
  • Kokam
  • Fluence
  • Samsung SDI Co. Ltd.
Note: Product cover images may vary from those shown

Loading
LOADING...