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Global Battery Storage Market By Energy Capacity (Below 100 MWh, Between 100 and 500 MWh, others), By Battery Type (Flow Battery ,Li-ion, others), By Application (Residential, Utilities, Others), By Region–Forecast & Opportunities to 2026

Report Description

The global battery storage market accounted for a value of USD 3.4 billion in 2019. Battery storage market projected to register growth at a CAGR of 32.8% during forecast period.

COVID-19 has impacted all the businesses over the globe. The battery storage market and application segment of battery storage market has witness a significant decline in growth rate due to outbreak of corona virus. The supply chain of renewable energy technologies and battery energy storage system got disrupted due to travel restriction and lockdown across many countries of the world. The market is estimated to recover and demand of battery storage market is estimated to increase by 2022.

Definition:

Battery storage systems are used to store electricity which is generated through power plants. The generated electricity is used in order to ensure smooth supply to consumers at the time of fluctuations from power generation from renewable power plants.  This are used to accumulate energy which generated from renewable power plants to ensure smooth flow of electricity regardless of fluctuation in power generation from power plants.

Market Dynamics (Drivers/Opportunities):

The wind and solar energy are widely used types of renewable energy which is stored in grids. But variations occur in this due to fluctuations in wind current and concealing of sun by clouds. This variation create requirement of flexible grid systems which is used to store energy. Battery storage systems help grid operators in saving electricity when electricity generated exceeds the electricity demand. This drives growth in battery storage market during forecast period.

The use of battery storage systems improves flexibility and reliability of supply systems of electricity with respect to generation, distribution and transmission of power. Battery storage systems helps in handling asset deferral, carry out harmonic suppression and ensure frequency regulation. All these factors is responsible for driving growth in battery storage market during forecast period.

Market Insights, by Energy Capacity

On the basis of energy capacity, the battery storage market is segmented into below 100 MWh, between 100 and 500 MWh and above 500 MWh. Battery storage systems with capacity above 500 MWh is estimated to grow at a highest CAGR during forecast period. Battery storage systems with high capacity and lower power rating is useful for delivering a low amount of electricity for a long time and it is considered as sufficient to run a few crucial appliances. At the time of high electricity demand battery storage helps in running other power plants. This drives growth in above capacity 500MWh segment during forecast period.

Market Insights, by Battery Type

On the basis of battery type, the battery storage market is segmented into Li-ion battery, lead-acid battery, flow battery and others. The Li-ion battery segment is estimated to register growth at highest CAGR during forecast period. The demand for lithium-ion batteries is increasing for energy storage systems. It has various advantages such as low weight, limited coverage area and low cost. The rise in demand and adoption for such batteries is likely to drive growth in lithium ion battery segment during forecast period.

Market Insights, by Application

On the basis of application, the battery storage market is segmented into residential, commercial and utilities.  The utilities supplication is estimated to hold largest market share during forecast period. The electricity generation and consumption needs to be matched all time because mismatch leads to frequency and voltage deviations. The mismatch can cause power damage and outages to the equipments. The battery storage system can be used to overcome this problem. The battery energy system can be installed with grids. Grids are responsible to control voltage and frequency. This drives growth in utilities segment during forecast period.

Regional Insights

Asia-Pacific region is estimated to hold largest market share during forecast period. Asia-Pacific region is considered as hub for battery energy storage system industry. The electrification is rapidly growing in rural areas or remote areas which are off-grid in many countries. The utilization of residential energy storage technology enables to increase access to electricity for these rural or remote areas. Battery storage investment is rising in this region. This drives growth in Asia-pacific region during forecast period.

Key Companies & Market Share Insights

The key market players in battery storage market are ABB, LG Chem, Panasonic, Samsung SDI, Siemens AG, General Electric, Hitachi, Tesla, Toshiba, AEG Power Solutions, Exergonix, Corvus Energy, The Aes Corporation, Enerdel and Delta Electronics

Segments Covered in the Report

This report forecasts The Global Battery Storage Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global battery storage market report on the basis of battery type, energy capacity and application.

Battery Storage Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  3. Executive Summary
    • Market Snapshot
  4. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Battery Storage Market, By Energy Capacity, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Below 100 MWh
  • Between 100 and 500 MWh
  • Above 500 MWh
  1. Battery Storage Market, By Battery Type , Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Li-ion battery
  • Lead-Acid Battery
  • Flow Battery
  1. Battery Storage Market, By Application, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Residential
  • Commercial
  • Utilities
  1. Battery Storage Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Energy Capacity
    • By Battery Type
    • By Application
    • By Country
      • USA
        • By Application
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Energy Capacity
      • By Battery Type
      • By Application
      • By Country
        • Brazil
          • By Application
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Energy Capacity
        • By Battery Type
        • By Application
        • By Country
          • UK
            • By Application
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Energy Capacity
          • By Battery Type
          • By Application
          • By Country
            • China
              • By Application
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Energy Capacity
            • By Battery Type
            • By Application
            • By Country
              • Saudi Arabia
                • By Application
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • Delta Electronics
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • ABB
    • LG Chem
    • Panasonic
    • Samsung SDI
    • Siemens AG
    • General Electric
    • Hitachi
    • Tesla
    • Toshiba
    • AEG Power Solutions
    • Exergonix
    • Corvus Energy
    • The Aes Corporation
    • Enerdel
  2. Appendix
    • Interrelated Market

 

 

Q Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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