Global Energy Storage Systems Market – Industry Analysis and Forecast (2019-2026)
Global Energy Storage Systems Market was valued US$ 32.2 Bn in 2018 and is expected to reach US$ 56.23 Bn by 2026, at CAGR of 6.03% during forecast period.
Increasing consumer awareness of efficient energy consumption coupled with growing demand for smart homes with effective load management is projected to play a major role in driving the demand. Ascending demand from electric utilities, on account of rising need for distributed energy integration with the main grid, is likely to propel the growth over the forecast period.
In 2017, energy storage market grew by 50% compared to 2016. The market is driven by local subsidies, coupled with strong demand for solar. Germany is the largest market for energy storage system (ESS) in the region. ESS is an integral part of Germany’s Energy Transition. It is one of the biggest players in the energy storage market. The Nordic countries are expected to witness strong demand for industrial and commercial energy storage system, coupled with the growth of data centers in the region. Demand for ESS in Asia-Pacific is driven by China. China has registered a record sale of more than 650,000 estimated electric vehicles (EVs) in 2017, compared to 500,000 units in 2016. It accounted for 40% of the global EV sale.
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Based on application, transportation segment is anticipated to grow at a significant rate during the forecast period. This is mainly because of a surge in sales of electric vehicles and growing railway networks.
On the basis of technology, the pumped hydro storage is an established technology occupying major share across geographies, and applications. So the below exhibit depicts an opportunity scenario for other technologies that hold potential for investment. Among the other energy storage technologies measured compressed air storage is an attractive marketfor investment owing to its efficient energy storage in low cost.
North America was the largest energy storage market, accounting for more than 35.0% share in 2017. Energy storing systems are used to better manage onsite solar systems and take advantage of low utility rates when demand for electricity is low. In the U.S., various states are making integrated resource planning a necessary requirement for utility companies. Also, companies are themselves including energy storing options in their rate proposals which they are submitting to regulatory agencies, thus driving the market growth.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding electric vehicle supply equipment market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in electric vehicle supply equipment market.
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Scope of the Global Energy Storage Systems Market
Global Energy Storage Systems Market, By Technology
• Pumped Hydro Storage
• Compressed Air
• Sodium Sulphur
• Lithium Ion
• Lead Acid
• Nickel Cadmium
• Flywheel
• Redox-Flow
Global Energy Storage Systems Market, By End-User
• Residential
• Non-Residential
• Utility
Global Energy Storage Systems Market, By Applications
• Grid Storage
• Transportation
Global Energy Storage Systems Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Key Players operating in Global Energy Storage Systems Market
• G Chem.
• ABB Ltd.
• AES Energy Storage, LLC
• Beacon Power, LLC
• BYD Company Limited
• Convergent Energy and Power Inc.
• Greensmith Energy Management Systems
• Eos Energy Storage
• Seeo, Inc.
• S&C Electric Company
• Scheider Electric
• SMA Solar Technology AG
• Exide Industries Ltd.
• SK Holdings.
• Autobat SACI
• EnerbraxAcumuladoresLtda
• Eguana Technologies
• Imergy Power Systems.
• Ionotec Ltd
• Tata Power
Browse Full Report with Facts and Figures of Energy Storage Systems Market Report at: https://www.maximizemarketresearch.com/market-report/global-energy-storage-systems-market/31732/
MAJOR TOC OF THE REPORT
Chapter One: Energy Storage Systems Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Energy Storage Systems Market Competition, by Players
Chapter Four: Global Energy Storage Systems Market Size by Regions
Chapter Five: North America Energy Storage Systems Revenue by Countries
Chapter Six: Europe Energy Storage Systems Revenue by Countries
Chapter Seven: Asia-Pacific Energy Storage Systems Revenue by Countries
Chapter Eight: South America Energy Storage Systems Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Energy Storage Systems by Countries
Chapter Ten: Global Energy Storage Systems Market Segment by Type
Chapter Eleven: Global Energy Storage Systems Market Segment by Application
Chapter Twelve: Global Energy Storage Systems Market Size Forecast (2019-2026)
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