Global Battery Energy Storage Systems Market Report By Technology (Lithium-Ion Batteries, Sodium–Sulfur Batteries, Lead-Acid Batteries, Flow Batteries, And Others), Type (On-Grid Connection And Off-Grid Connection), Application (Residential, Non-Residential, And Utilities) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2020-2027

ID:VMR11210450
July 2021
Report Formats:
Global Battery Energy Storage Systems Market Overview

The battery energy storage systems (BESS) are primarily employed to decrease peak demand charges, integrate renewable sources, regulate voltage and frequency, and provide a backup power supply. Battery energy storage systems store the electricity generated by power plants. This electricity is then utilized to ensure smooth supply to consumers when power generation from renewable power plants fluctuates due to environmental changes. An old electric grid is an incapable system that wastes considerable amounts of the electricity it produces due to a disconnect between the amount of energy consumers need and energy generated from generation sources. Installing BESS help defer or circumvent the need for new grid investments by meeting peak demand with energy stored from lower-demand periods, thereby reducing congestion and improving overall transmission and distribution asset utilization. The deployment of battery energy storage systems is increasing in power systems across the world. Globally, two factors are accelerating the demand-side response: The need for backup power and a rapid decline in battery energy storage system prices.
According to Value Market Research, the global battery energy storage systems market size was valued at about USD 5.2 billion in 2020 and is estimated to grow at a CAGR of around 28 % during the forecast period 2021 to 2027.

Additionally, the development of electric vehicles (EVs), the deployment of distributed renewable energy generation, and the development of smart grids also pave market growth. Furthermore, advances in digital technologies, such as artificial intelligence, blockchain, and predictive analytics, give rise to aggregated solutions and innovative business models. Start-ups worldwide are rapidly commercializing intelligent networks of “behind-the-meter” (BTM) batteries to benefit electricity customers, utilities, and grid operators. Whereas an increasing focuses on rural electrification worldwide, large storage requirements in data centers are expected to offer projection opportunities to the market.

Until lately, high costs and low round trip efficiencies prevented the mass deployment of battery energy storage systems. But, the advent of lithium-ion batteries has overcome these issues. However, factors like high capital investment required for the deployment and lack of vendors' availability and project financing are restraining the market growth.

The global battery energy storage systems market is moderately dense. LG Chem., ABB, The AES Corporation, Enerbrax Acumuladores Ltda, Beacon Power, LLC, BYD Company Limited, Alevo Group, Convergent Energy + Power, Greensmith Energy Management Systems, SMA Solar Technology AG, Exide Industries Ltd. are key players associated with the market.

Global Battery Energy Storage Systems Market Share
 
In this research report, the Battery Energy Storage Systems market is segmented by battery technology, application, and region.

Analysis, By Battery Technology
Based on battery technology, the global battery energy storage systems market is segmented into lithium-ion batteries, sodium-sulfur batteries, lead-acid batteries, flow batteries, and others. Among these, lithium-ion batteries dominated the market, followed by lead-acid batteries and flow batteries. Lithium-ion batteries acquired almost half of the global market share. Lithium-ion batteries are most widely adopted due to their lightweight, longest life, more usable capacity, constant power, temperature tolerance, fast & safe charging, and availability in standard industry sizes. The low cost and high efficiency of lithium-ion batteries have been influential in a wave of BESS deployments in recent years for both small-scale, grid-level deployments and behind-the-meter installations and large-scale.
 
Analysis, By Application
Based on application, the global battery energy storage systems market is segmented into residential, non-residential, utilities, and others. Utilities application accounted for the maximum market share in 2020. Booming energy requirement, expanding transmission and distribution (T&D) lines, growing installation of high-performing technology into the grid system, rising construction of advanced metering infrastructure, and increased complexity of maintaining system reliability drive the utility segment growth. In utility applications, the battery storage system is used to maintain the flow of electricity from the power plant to end-users, such as frequency regulation, renewable integration, peak shaving, microgrids, and black start capability.
 
Analysis, By Region
Based on region, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific occupied the largest share of the battery energy storage system market in 2020, with China, Japan, South Korea, and Australia propelling the regional market. The region is stepping towards gaining half share in a global market. Rising initiatives to improve the reliability and quality of the power distribution facilities for the residential customers, specific plans for electrification in remote areas, and penetration of renewable energy. The region is witnessing increased investment for electricity generation and storage due to the proposal to increase the usage of electric vehicles. Europe is another lucrative region or BESS. Europe will witness an increase in sustainable energy demand and a rise in renewable energy technology deployment. Renewables are becoming a strength of the power sector in Europe.
 
Market Segmentation covered in the Report:
By Battery Technology
  • Lithium-Ion Batteries
  • Sodium–Sulfur Batteries
  • Lead-Acid Batteries
  • Flow Batteries
  • Others

By Application
  • Residential
  • Non-Residential
  • Utilities
  • Other

By Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

METHODOLOGY

This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications. 

If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization. 

1 . PREFACE
       1.1. Report Description
           1.1.1. Objective
           1.1.2. Target Audience
           1.1.3. Unique Selling Proposition (USP) & offerings
       1.2. Research Scope
       1.3. Research Methodology
           1.3.1. Market Research Process
           1.3.2. Market Research Methodology
 
2 . EXECUTIVE SUMMARY
       2.1. Highlights of Market
       2.2. Global Market Snapshot
 
3 . BATTERY ENERGY STORAGE SYSTEMS – INDUSTRY ANALYSIS
       3.1. Introduction - Market Dynamics
       3.2. Market Drivers
       3.3. Market Restraints
       3.4. Opportunities
       3.5. Industry Trends
       3.6. Porter’s Five Force Analysis
       3.7. Market Attractiveness Analysis
           3.7.1 By Battery Technology
           3.7.2 By Application
           3.7.3 By Region
 
4 . VALUE CHAIN ANALYSIS
       4.1. Value Chain Analysis
       4.2. Raw Material Analysis
           4.2.1. List of Raw Materials
           4.2.2. Raw Material Manufactures List
           4.2.3. Price Trend of Key Raw Materials
       4.3. List of Potential Buyers
       4.4. Marketing Channel
           4.4.1. Direct Marketing
           4.4.2. Indirect Marketing
           4.4.3. Marketing Channel Development Trend
 
5 . IMPACT ANALYSIS OF COVID-19 OUTBREAK
       5.1. Impact Analysis of Covid-19 Outbreak
           5.1.1. Direct Impact on Production
           5.1.2. Supply Chain and Market Disruption
           5.1.3. Financial Impact on Firms and Financial Markets
       5.2. COVID-19 Impact Analysis by Production, Import, Export and Demand
       5.3. Market: Pre V/S Post COVID-19
       5.4. Estimated Impact of the Coronavirus (COVID-19) Epidemic
       5.5. COVID-19: Micro and Macro Factor Analysis
 
6 . GLOBAL BATTERY ENERGY STORAGE SYSTEMS MARKET ANALYSIS BY BATTERY TECHNOLOGY
       6.1 Overview by Battery Technology
       6.2 Historical and Forecast Data
       6.3 Analysis by Battery Technology
       6.4 Lithium-Ion Batteries Market by Regions
       6.6 Sodium–Sulfur Batteries Market by Regions
       6.5 Lead-Acid Batteries Market by Regions
       6.7 Flow Batteries Market by Regions
       6.8 Others Market by Regions
 
7 . GLOBAL BATTERY ENERGY STORAGE SYSTEMS MARKET ANALYSIS BY APPLICATION
       7.1 Overview by Application
       7.2 Historical and Forecast Data
       7.3 Analysis by Application
       7.4 Residential Market by Regions
       7.5 Non-Residential Market by Regions
       7.6 Utilities Market by Regions
       7.7 Other Market by Regions
 
8 . GLOBAL BATTERY ENERGY STORAGE SYSTEMS MARKET ANALYSIS BY GEOGRAPHY
       8.1. Regional Outlook
       8.2. Introduction
       8.3. North America
           8.3.1. Overview, Historic and Forecast Data
           8.3.2. North America By Segment
           8.3.3. North America By Country
           8.3.4. United State
           8.3.5. Canada
           8.3.6. Mexico
       8.4. Europe
           8.4.1. Overview, Historic and Forecast Data
           8.4.2. Europe by Segment
           8.4.3. Europe by Country
           8.4.4. United Kingdom
           8.4.5. France
           8.4.6. Germany
           8.4.7. Italy
           8.4.8. Russia
           8.4.9. Rest Of Europe
       8.5. Asia Pacific
           8.5.1. Overview, Historic and Forecast Data
           8.5.2. Asia Pacific by Segment
           8.5.3. Asia Pacific by Country
           8.5.4. China
           8.5.5. India
           8.5.6. Japan
           8.5.7. South Korea
           8.5.8. Australia
           8.5.9. Rest Of Asia Pacific
       8.6. Latin America
           8.6.1. Overview, Historic and Forecast Data
           8.6.2. Latin America by Segment
           8.6.3. Latin America by Country
           8.6.4. Brazil
           8.6.5. Argentina
           8.6.6. Peru
           8.6.7. Chile
           8.6.8. Rest of Latin America
       8.7. Middle East & Africa
           8.7.1. Overview, Historic and Forecast Data
           8.7.2. Middle East & Africa by Segment
           8.7.3. Middle East & Africa by Country
           8.7.4. Saudi Arabia
           8.7.5. UAE
           8.7.6. Israel
           8.7.7. South Africa
           8.7.8. Rest Of Middle East And Africa
 
9 . COMPETITIVE LANDSCAPE OF THE BATTERY ENERGY STORAGE SYSTEMS COMPANIES
       9.1. Battery Energy Storage Systems Market Competition
       9.2. Partnership/Collaboration/Agreement
       9.3. Merger And Acquisitions
       9.4. New Product Launch
       9.5. Other Developments
 
10 . COMPANY PROFILES OF BATTERY ENERGY STORAGE SYSTEMS INDUSTRY
       10.1. Company Share Analysis
       10.2. Market Concentration Rate
       10.3. LG Chem.
           10.3.1. Company Overview
           10.3.2. Financials
           10.3.3. Products
           10.3.4. Recent Developments
       10.4. ABB
           10.4.1. Company Overview
           10.4.2. Financials
           10.4.3. Products
           10.4.4. Recent Developments
       10.5. The AES Corporation
           10.5.1. Company Overview
           10.5.2. Financials
           10.5.3. Products
           10.5.4. Recent Developments
       10.6. Enerbrax Acumuladores Ltda
           10.6.1. Company Overview
           10.6.2. Financials
           10.6.3. Products
           10.6.4. Recent Developments
       10.7. Beacon Power, LLC
           10.7.1. Company Overview
           10.7.2. Financials
           10.7.3. Products
           10.7.4. Recent Developments
       10.8. BYD Company Limited
           10.8.1. Company Overview
           10.8.2. Financials
           10.8.3. Products
           10.8.4. Recent Developments
       10.9. Alevo Group
           10.9.1. Company Overview
           10.9.2. Financials
           10.9.3. Products
           10.9.4. Recent Developments
       10.10. Convergent Energy + Power
           10.10.1. Company Overview
           10.10.2. Financials
           10.10.3. Products
           10.10.4. Recent Developments
       10.11. Greensmith Energy Management Systems
           10.11.1. Company Overview
           10.11.2. Financials
           10.11.3. Products
           10.11.4. Recent Developments
       10.12. SMA Solar Technology AG
           10.12.1. Company Overview
           10.12.2. Financials
           10.12.3. Products
           10.12.4. Recent Developments
       10.13. Exide Industries Ltd.
           10.13.1. Company Overview
           10.13.2. Financials
           10.13.3. Products
           10.13.4. Recent Developments
 
 *Note - in company profiling, financial details and recent development are subject to availability or might not be covered in case of private companies
 
 LIST OF TABLES
 

  •  Market Snapshot
  •  Drivers : Impact Analysis
  •  Restraints : Impact Analysis
  •  List of Raw Material
  •  List of Raw Material Manufactures
  •  List of Potential Buyers
  •  COVID-19 Impact Analysis by Production, Import, Export and Demand
  •  Pre V/S Post COVID-19
  •  Estimated Impact Of The Coronavirus (Covid-19) Epidemic
  •  COVID-19: Micro and Macro Factor Analysis
  •  Analysis by Battery Technology (USD MN)
  •  Lithium-Ion Batteries Market by Geography (USD MN)
  •  Sodium–Sulfur Batteries Market by Geography (USD MN)
  •  Lead-Acid Batteries Market by Geography (USD MN)
  •  Flow Batteries Market by Geography (USD MN)
  •  Others Market by Geography (USD MN)
  •  Analysis Market by Application (USD MN)
  •  Residential Market by Geography (USD MN)
  •  Non-Residential Market by Geography (USD MN)
  •  Utilities Market by Geography (USD MN)
  •  Other Market by Geography (USD MN)
  •  Global Battery Energy Storage Systems Market by Geography (USD MN)
  •  North America Market Analysis (USD MN)
  •  United State Market Analysis (USD MN)
  •  Canada Market Analysis (USD MN)
  •  Mexico Market Analysis (USD MN)
  •  Europe Market Analysis (USD MN)
  •  Europe Market Estimate by Country (USD MN)
  •  United Kingdom Market Analysis (USD MN)
  •  France Market Analysis (USD MN)
  •  Germany Market Analysis (USD MN)
  •  Italy Market Analysis (USD MN)
  •  Russia Market Analysis (USD MN)
  •  Spain Market Analysis (USD MN)
  •  Rest of Europe Market Analysis (USD MN)
  •  Asia Pacific Market Analysis (USD MN)
  •  China Market Analysis (USD MN)
  •  Japan Market Analysis (USD MN)
  •  India Market Analysis (USD MN)
  •  South Korea Market Analysis (USD MN)
  •  Australia Market Analysis (USD MN)
  •  Rest of Asia Pacific Market Analysis (USD MN)
  •  Latin America Market Analysis (USD MN)
  •  Brazil Market Analysis (USD MN)
  •  Argentina Market Analysis (USD MN)
  •  Peru Market Analysis (USD MN)
  •  Chile Market Analysis (USD MN)
  •  Rest of Latin America Market Analysis (USD MN)
  •  Middle East & Africa Market Analysis (USD MN)
  •  Saudi Arabia Market Analysis (USD MN)
  •  UAE Market Analysis (USD MN)
  •  Israel Market Analysis (USD MN)
  •  South Africa Market Analysis (USD MN)
  •  Rest of Middle East and Africa Market Analysis (USD MN)
  •  Partnership/Collaboration/Agreement
  •  Mergers And Acquisiton
 
 LIST OF FIGURES
 
  •  Research Scope of Battery Energy Storage Systems Report
  •  Market Research Process
  •  Market Research Methodology
  •  Global Battery Energy Storage Systems Market Size, by Region (USD MN)
  •  Porters Five Forces Analysis
  •  Market Attractiveness Analysis by Battery Technology
  •  Market Attractiveness Analysis by Application
  •  Market Attractiveness Analysis by Region
  •  Value Chain Analysis
  •  Global Market Analysis by Battery Technology (USD MN)
  •  Lithium-Ion Batteries Market by Geography (USD MN)
  •  Sodium–Sulfur Batteries Market by Geography (USD MN)
  •  Lead-Acid Batteries Market by Geography (USD MN)
  •  Flow Batteries Market by Geography (USD MN)
  •  Others Market by Geography (USD MN)
  •  Global Market Analysis by Application (USD MN)
  •  Residential Market by Geography (USD MN)
  •  Non-Residential Market by Geography (USD MN)
  •  Utilities Market by Geography (USD MN)
  •  Other Market by Geography (USD MN)
  •  Global Market by Revenue
  •  North America Market by Revenue
  •  Europe Market by Revenue
  •  Asia Pacific Market by Revenue
  •  Latin America Market by Revenue
  •  Middle East & Africa Market by Revenue
  •  Recent Development in Industry
  •  Company Market Share Analysis, 2020
 
 * Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.

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