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 (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Saudi Arabia, UAE, South Africa, Brazil, Argentina, Mexico) Application Potential, Competitive Market Share & Forecast, 2019 - 2025

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

  Request Sample
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, 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 Market Segmentation

Get more details on this report - Request Free Sample PDF
 

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.


What Information does this report contain?

Historical data coverage: 2014 to 2018; Growth Projections: 2019 to 2025.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.


Premium Report: Details

Pages: 490
Tables: 674
Charts / Figures: 59
Companies covered: 48
Countries covered: 19

Special Requests?

Inquire Before Buying
This site is protected by Trustwave's Trusted Commerce program Authorize.Net Merchant - Click to Verify BBB Rating - Click to Verify

15% Free Customization
Share your Requirements

Customize this Report

Questions? Speak to an Analyst

Full Name *
Email *
Phone (With Country Code)
Message *
Are you human?
9 + 2 =

Your personal details are secure. Privacy Policy

Connect with our sales team

Chat With Us
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies. More info. I Agree