Energy Storage Systems Market Size By Technology (Pumped Hydro, Electro-Chemical {Lithium Ion Battery, Sodium Sulphur Battery, Lead Acid Battery, Flow Battery, Others}, Electro-Mechanical {Flywheel, Compressed Air Energy Storage}, Thermal {Water, Molten Salt, Phase Change Material, Others}), By Application (Electric Energy Time Shift, Electric Supply Capacity, Black Start, Renewables Capacity Firming, Frequency Regulation, Other), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2025

Published Date: Aug 2019  |  Report ID: GMI4257  |  Authors: Ankit Gupta, Nikhil Paranjape

Report Format: PDF   |   Pages: 490   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Energy Storage Systems Market was valued over USD 340 billion in 2018 and is set to expand over 6% by 2025.
 

UK Energy storage systems Market Size, By Technology, 2018 & 2025 (USD Million)
UK Energy storage systems Market Size, By Technology, 2018 & 2025 (USD Million)

Get more details on this report - Request Free Sample PDF
 

Increasing demand for continuous electricity supply along with growing focus toward renewable energy power generation will drive the global energy storage systems market. According to the International Renewable Energy Agency (IRENA), the total U.S. installed renewable energy capacity witnessed an increase from 127 GW in 2009 to over 245 GW in 2018. Ability of storage system to capture and store the electrical and thermal energy for later utilization are some of the key underlying factors making its adoption preferable.
 

Government policies & measures to minimize carbon emissions along with growing concerns toward grid stability will stimulate the industry growth. In December 2017, the government of China announced the commencement of the first phase of the Emission Trading Scheme (ETS) to reduce GHG emissions. The ETS will focus on the power sector covering about 3.5 billion tonnes of carbon dioxide and the full scheme is anticipated to be implemented by 2019.
 

Energy Storage Systems Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 340  Billion (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 6% 2025 Value Projection: 500 Billion (USD)
Pages: 490 Tables, Charts & Figures: 733
Geographies covered (19): U.S., Canada, Germany, UK, France, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Saudi Arabia, UAE, South Africa, Brazil, Argentina, Mexico
Segments covered: Technology, Application and Region
Companies covered (48): Samsung SDI Co. Ltd, Panasonic Corporation, TESLA Inc, GS Yuasa Corporation, Hitachi Chemical Co Ltd, LG Chem Ltd, Durapower, Exide Technologies, BYD Co, Ltd., Toshiba Corporation, AA123 Systems, LLC, Hoppecke Batteries, Inc, Furukawa Battery Co. Ltd., Schluchseewerk AG, Sinohydro, Genex Power Limited, J-POWER, Voith, Dongfang Electric Corporation, GE Alstom SA, EDF, Northland Power, Eskom Holding, Nevada Hydro, Enel Green Power, RusHydro, Ice Energy Technologies, Inc., CALMAC Manufacturing Corp., DN Tanks, Inc., Abengoa, SolarReserve, LLC, Burns & McDonnell, Brightsource Energy, Inc., Baltimore Aircoil Company, Cryogel Thermal Energy Storage, Dunham-Bush Holding Bhd., Goss Engineering, Steffes Corporation, Evapco, Inc., FAFCO, Sunwell Technologies, Finetex EnE, Inc., McDermott International, Inc., Axiom Exergy, ABB Limited, Beacon Power, Amber Kinetics, Calnetix Technologies,
Growth Drivers:
  • Growth in renewable energy sector
  • Increasing concerns toward security of supply
  • Growing electricity demand
Pitfalls & Challenges:
  • High capital cost of pumped storage plants
  • Safety concerns

Request 15% Free Customization on this Report
 

Energy Storage Systems Market, By Technology

Pumped hydro storage market will witness growth over 3 % by 2025. High efficiency, greater stability, longer lifespan and low storage costs are some of the key factors positively influencing the business outlook. Low energy installation costs, reasonable round-trip efficiency and low discharge rates will further complement the industry growth.
 

Surging demand to integrate large-scale clean energy systems along with favorable measures to promote adoption of sustainable solutions to minimize carbon emissions will stimulate the electro-chemical energy storage demand. In addition, technological innovations to improve the performance & efficiency of batteries will further enhance the business landscape.
 

Energy Storage Systems Market, By Application

China Energy storage systems Market Size, By Application, 2018 & 2025 (MW)
China Energy storage systems Market Size, By Application, 2018 & 2025 (MW)

Get more details on this report - Request Free Sample PDF
 

ESS market from electric supply capacity application is set to surpass USD 30 billion by 2025. Growing demand for cost effective and uninterrupted power supply across off grid locations will positively influence the product adoption. In addition, intermittent nature of renewable energy sources has created an increased demand for efficient storage technologies. As per the EIA, in the U.S., renewable based electricity generation increased from 382 MWh in 2008 to 742 MWh in 2018.
 

Energy storage system deployment for the renewables capacity firming application will witness growth on account of increasing investments toward expansion and integration of wind and solar energy plants. These systems can smooth the output and control the ramp rate by eliminating the rapid voltage & power swings on electrical grid which make its adoption preferable.
 

Energy Storage Systems Market, By Region

Asia Pacific Energy Storage Systems Market Size, By Country, 2025 (USD Million)
Asia Pacific Energy Storage Systems Market Size, By Country, 2025 (USD Million)

Get more details on this report - Request Free Sample PDF
 

The Asia Pacific ESS market size will witness gains over 7% by 2025. Surging demand for uninterruptable & reliable power supply along with increasing efforts to reduce fossil fuel dependency by promoting utilization of renewable energy technologies are some of the paramount factors which will propel the business growth. Growing electricity demand, ongoing investments toward R&D sector and growing adoption of clean technologies will further enhance the product penetration over the forecast timeframe.
 

The U.S ESS market is anticipated to witness growth on account of increasing deployment of grid connected energy storage systems along with the implementation of federal tax incentive programs. These incentives and mandates have resulted in increased deployment of ESS across states with high levels of renewable energy penetration. For instance, in May 2017, the California Public Utility Commission (CPUC) implemented Assembly Bill 2868, obligating its investor owned utilities for the procurement of additional 500 MW of distributed energy storage.
 

Energy storage systems deployment across Europe is set to experience significant growth by 2025. Ongoing efforts to minimize the carbon footprint along with surging investments toward development of green economy will drive the industry growth. As per the European Commission, EU's Research and Innovation Programme Horizon 2020 will invest USD 6.57 billion in energy projects between 2014 and 2020. The aim of the project is to improve the performance of clean energy technologies which include tidal power, energy storage and energy networks.
 

Competitive Market Share

Notable industry participants across the ESS market include Samsung SDI, Tesla Inc, Panasonic, Hitachi Chemical, GS Yuasa, J-Power, LG Chem, Exide Technologies, Toshiba, BYD Co, Sinohydro, Voith, EDF, Dongfang Electric, Goss Engineering, Evapco, Steffes Corporation, Genex Power Limited, Alstom and Schluchseewerk AG.
 

Business expansions, new technological innovations and mergers & acquisitions are some of the significant initiatives undertaken by prominent industry players. Furthermore, the key competitors are involved in R&D activities to sustain a competitive edge over other market participants.
 

Energy Storage Systems Industry Background

Energy storage systems is a technology that stores energy in the form of heat and electricity which can be utilized later whenever required. Pumped hydro storage is the most prominent ESS technology being deployed followed by the other systems including electro-chemical, electro-mechanical and thermal.


Buy Now

Single User: $5,150 Access to only 1 person; cannot be shared; cannot be printed
Multi User: $7,150 Access for 2 to 5 users only within same department of one company
Enterprise User: $9,150 Access to a company wide audience; includes subsidiary companies or other companies within a group of companies

Need a Discount? Get in touch with us for special pricing

Request Discount

Connect with our sales team

Why Global Market Insights, Inc.?

Reliability & accuracy

  • GMI is unparalleled when to comes to the quality of research and information provided to clients. Our unique methodology is designed to ensure a minimum of 90% accuracy to give our clients excellent value on their investment.

Quality & trust


  • BBB Rating - Click to Verify

Customer service

  • Over 200 experts are available across various time-zones, ready to serve clients for their research needs. Our industry experts help clients to design reports customized to their needs.

Security & compliance

We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies. More info X