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Advanced Energy Storage - Global Market Trajectory & Analytics

  • ID: 2531225
  • Report
  • July 2020
  • Region: Global
  • 162 Pages
  • Global Industry Analysts, Inc
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Global Advanced Energy Storage Market to Reach 12.9 Thousand Megawatts by 2027

Amid the COVID-19 crisis, the global market for Advanced Energy Storage estimated at 8.2 Thousand Megawatts in the year 2020, is projected to reach a revised size of 12.9 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 6.4 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 2.4 Thousand Megawatts, While China is Forecast to Grow at 6.2% CAGR

The Advanced Energy Storage market in the U.S. is estimated at 2.4 Thousand Megawatts in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 2.3 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 5.2% 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 1.4 Thousand Megawatts in the year 2020 will reach a projected size of 2 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 1.5 Thousand Megawatts by the year 2027.We bring years of research experience to this 20th edition of our report. The 162-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others:
  • 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.

The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

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

Global Competitor Market Shares

Advanced Energy Storage Competitor Market Share Scenario Worldwide (in %): 2020 & 2029

Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

ABB Ltd. (India)

Active Power, Inc. (USA)

AES Energy Storage, LLC (USA)

Alevo Group S.A. (Switzerland)

Altair Nanotechnologies, Inc. (Canada)

Amber Kinetics, Inc. (USA)

Areva (France)

Ashlawn Energy, LLC (USA)

Axion Power International, Inc. (USA)

Beacon Power, LLC (USA)

BYD Co. Ltd. (China)

Calnetix Technologies, LLC (USA)

ECOULT (Australia)

Electrochaea GmbH (Germany)

Encell Technology, Inc. (USA)

EnSync Energy Systems, Inc. (USA)

Exide Technologies (USA)

General Electric Company (USA)

Gridflex Energy, LLC (USA)

Highview Enterprises Ltd. (UK)

Hitachi, Ltd. (Japan)

Hyper Tech Research, Inc. (USA)

IMS group AS (Norway)

ITM Power Plc (UK)

Kokam co., Ltd (Korea)

Leclanché SA (Switzerland)

LG Chem (Korea)

LightSail Energy (USA)

Maxwell Technologies, Inc. (USA)

McPhy Energy S.A. (France)

NEC Energy Solutions (Japan)

NGK Insulators, Ltd. (Japan)

Proton OnSite (USA)

Redflow Limited (Australia)

Saft Groupe S.A. (France)

Samsung SDI Co., Ltd. (South Korea)

Siemens AG (Germany)

Dresser-Rand Group, Inc. (USA)

Temporal Power (Canada)

Tesla, Inc. (USA)

Tianjin Lishen Battery Co., Ltd. (China)

Toshiba International Corporation (USA)

ViZn Energy Systems, Inc. (USA)

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: Advanced Energy Storage Global Market Estimates and Forecasts in Megawatts by Region/Country: 2020-2027
TABLE 2: Advanced Energy Storage Market Share Shift across Key Geographies Worldwide: 2020 VS 2027
TABLE 3: Thermal Energy Storage (Technology) World Market by Region/Country in Megawatts: 2020 to 2027
TABLE 4: Thermal Energy Storage (Technology) Market Share Breakdown of Worldwide Sales by Region/Country: 2020 VS 2027
TABLE 5: Electrochemical Energy Storage (Technology) Potential Growth Markets Worldwide in Megawatts: 2020 to 2027
TABLE 6: Electrochemical Energy Storage (Technology) Market Sales Breakdown by Region/Country in Percentage: 2020 VS 2027
TABLE 7: Other Technologies (Technology) Geographic Market Spread Worldwide in Megawatts: 2020 to 2027
TABLE 8: Other Technologies (Technology) Market Share Distribution in Percentage by Region/Country: 2020 VS 2027

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES

Market Facts & Figures

US Advanced Energy Storage Market Share (in %) by Company: 2020 & 2025

Market Analytics
TABLE 9: Advanced Energy Storage Market in Megawatts in the United States by Technology: 2020-2027
TABLE 10: United States Advanced Energy Storage Market Share Breakdown by Technology: 2020 VS 2027

CANADA

TABLE 11: Advanced Energy Storage Market Analysis in Canada in Megawatts by Technology: 2020-2027
TABLE 12: Canadian Advanced Energy Storage Market Share Breakdown by Technology: 2020 VS 2027

JAPAN

TABLE 13: Japanese Medium & Long-Term Outlook for Advanced Energy Storage Market in Megawatts by Technology: 2020-2027
TABLE 14: Japanese Advanced Energy Storage Market Percentage Share Distribution by Technology: 2020 VS 2027

CHINA

TABLE 15: Advanced Energy Storage Market Estimates and Forecasts in China in Megawatts by Technology: 2020-2027
TABLE 16: Advanced Energy Storage Market in China: Percentage Share Analysis by Technology for 2020 and 2027

EUROPE

Market Facts & Figures

European Advanced Energy Storage Market: Competitor Market Share Scenario (in %)for 2020 & 2025

Market Analytics
TABLE 17: European Advanced Energy Storage Market Demand Scenario in Megawatts by Region/Country: 2018-2025
TABLE 18: European Advanced Energy Storage Market Share Shift by Region/Country: 2020 VS 2027
TABLE 19: European Advanced Energy Storage Market Assessment in Megawatts by Technology: 2020-2027
TABLE 20: Advanced Energy Storage Market in Europe: Percentage Breakdown of Sales by Technology for 2020 and 2027

FRANCE

TABLE 21: French Advanced Energy Storage Market Estimates and Projections in Megawatts by Technology: 2020-2027
TABLE 22: French Advanced Energy Storage Market Share Breakdown by Technology:2020 VS 2027

GERMANY

TABLE 23: German Advanced Energy Storage Latent Demand Forecasts in Megawatts by Technology: 2020-2027
TABLE 24: German Advanced Energy Storage Market Share Breakdown by Technology: 2020 VS 2027

ITALY

TABLE 25: Advanced Energy Storage Market Estimates and Forecasts in Italy in Megawatts by Technology: 2020-2027
TABLE 26: Advanced Energy Storage Market in Italy: Percentage Share Analysis by Technology for 2020 and 2027

UNITED KINGDOM

TABLE 27: United Kingdom Medium & Long-Term Outlook for Advanced Energy Storage Market in Megawatts by Technology: 2020-2027
TABLE 28: United Kingdom Advanced Energy Storage Market Percentage Share Distribution by Technology: 2020 VS 2027

REST OF EUROPE

TABLE 29: Rest of Europe Advanced Energy Storage Market Assessment in Megawatts by Technology: 2020-2027
TABLE 30: Advanced Energy Storage Market in Rest of Europe: Percentage Breakdown of Sales by Technology for 2020 and 2027

ASIA-PACIFIC

TABLE 31: Asia-Pacific Advanced Energy Storage Market Estimates and Projections in Megawatts by Technology: 2020-2027
TABLE 32: Asia-Pacific Advanced Energy Storage Historic Market Analysis in Megawatts by Technology: 2020 VS 2027

REST OF WORLD

TABLE 33: Advanced Energy Storage Market Analysis in Rest of World in Megawatts by Technology: 2020-2027
TABLE 34: Rest of World Advanced Energy Storage Market Share Breakdown by Technology: 2020 VS 2027

IV. COMPETITION

Total Companies Profiled: 94

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