Global Battery Energy Storage System Market- By Technology(Peak shaving, Peak demand shifting, Frequency regulation, Load leveling), By Battery Type(Lithium-Ion, Lead-Acid, Nickel Cadmium Battery, Vanadium Redox-Flow, Sodium-Sulphur Batteries), By Solution(On & Off-Grid), By End User with COVID-19 impact | Forecast Period 2017-2030

Market Overview

Electrical power generated requires to be stored efficiently to use it in times of high demand of energy than supply of energy. Battery energy storage system is one used for the very purpose, using different kinds of batteries. Lithium-ion and lead acid batteries are preferred in general application. Furthermore, battery energy storage system is two ways configured i.e. power configuration or an energy configuration, which are opted as per the application of system. The development of micro grids and smart grids, manufacturing of robust and reliable power electronics and increasing use of batteries in transportation sector and in residential applications are together driving the robust growth of global battery energy storage system market. Goldstein Market Intelligence analyst forecast that the global battery energy storage system industry is expected to grow at a CAGR of 6.5% during 2017-2030 of forecast period.

Market Segmentation

By Technology

• Peak shaving
• Peak demand shifting
• Frequency regulation
• Load leveling

By Battery Type

• Lithium-Ion
• Lead-Acid
• Nickel Cadmium Battery
• Vanadium Redox-Flow
• Sodium-Sulphur (Zebra) Batteries
• Others

By Solution

• On-Grid Solution
• Off-Grid Solution

By End User

• Residential
• Automotive Sector
• Energy Sector
• Others Sectors

By Geography

• North America (U.S. & Canada)  Battery Energy Storage System  Market {Market Share (%), Market Size (USD Billion)}
• Latin America (Brazil, Mexico, Argentina & Rest Of Latin America)  Battery Energy Storage System  Market {Market Share (%), Market Size (USD Billion)}
• Europe (The U.K., Germany, France, Italy, Hungary, Spain, Poland, Sweden & Roe)  Battery Energy Storage System  Market {Market Share (%), Market Size (USD Billion)}
• Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest Of Asia)  Battery Energy Storage System  Market {Market Share (%), Market Size (USD Billion)}
• Middle East & Africa (GCC, South Africa, North Africa, Romea) Battery Energy Storage System  Market {Market Share (%), Market Size (USD Billion)}

Market Share by Battery Type & Region

Lithium ion battery segment tends to acquire largest market share i.e. 60% in 2017 of the global battery energy storage system market owing to the fact that they have longer lifespan and provides greater efficiency in application. Moreover the lithium ion batteries are primarily recommended for the application in on-grid solution as they have high energy density and low maintenance.

Based on geography, Asia Pacific battery energy storage system market acquires nearly 30% market share in 2017 and is estimated to grow at highest CAGR during the forecast period. APAC region has increasing demand for battery energy storage system on the back of growing energy sector and transportation sector, majorly in countries such as China, Japan, India, Singapore and South Korea among others.

Major Challenge for the Battery Energy Storage System Manufacturers

On the other hand, the major challenge for the battery energy storage system companies is not to supply batteries and provide energy storage solutions but to ensure the availability of balanced energy load to the end users as demanded. The industrial application of battery energy storage system requires efficiency for the designated maximum load, such that exceeding the maximum load for even short period of time can cause immense loss in terms of production, manpower working hours and financial loss.

Covered In This Global Battery Energy Storage System Market Report  

The report covers the present ground scenario and the future growth prospects of the Battery energy storage system market for 2017-2030 along with the market players’ analysis. We calculated the market size and revenue share on the basis of revenue generated from major players in the Global region.

Global Battery Energy Storage System Market Outlook 2017-2030, has been prepared based on an in-depth market analysis from market experts. The report covers the competitive landscape and current position of major players in the Global Battery energy storage system market space. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. “Global Battery Energy Storage System Market Report” also recognizes value chain analysis to understand the cost differentiation, pricing models to provide competitive advantage to the existing and new entry players.

COVID-19 impact on "Global Battery Energy Storage Systems Market "

The report analyses and includes complete detailed chapter of 50-70 pages about the short term & long terms impact of COVID-19 outbreak on each segment of "Global Battery Energy Storage Systems Market " along with government measures to support the sector. It also showcases the current market landscape during COVID, impact of the virus on leading companies, expected demand schedule and supply chain in the industry and other various major factors. This will help you identify those companies that may benefit from this pandemic as well as those that will lose out.

Key Market Players

Our global battery energy storage system market report comprises of the following companies as the key players.

•  ABB Ltd.
•  LG Chem Ltd.
•  Tesla Inc.
•  Samsung SDI Co. Ltd
•  AES Energy Storage
•  EnSync Energy
•  General Electric
•  Panasonic
•  Enersys
•  Active Power
•  Beacon Power
•  Greensmith Energy Management Systems
•  Convergent Energy
•  Power Inc.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the market. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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Key questions answered in this research report

• What is the total market size by 2030 and what would be the expected growth rate of market?
• What is the total revenue per segment and region in 2017-18 and what would be the expected revenue per segment and region over the forecast period?
• What are the key market trends?
• What are the factors which are driving this market?
• What are the major barriers to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities for the existing and entry level players?
• What are the recent developments and business strategy of the key players?

Reasons to buy this market study

• Facilitate decision-making based on strong historic and forecast data for global battery energy storage system  market
• Develop strategies based on the latest regulatory framework
• Position yourself to gain the maximum advantage of the global Battery energy storage system  market’s growth potential
• Identify key partners and business development avenues across the globe
• Respond to your competitors’ business structure, strategy and prospects