According to Goldstein Research, Global battery energy storage system market is expected to grow at a CAGR of 6.5% over the forecast period 2017-2025 to reach USD 10.0 billion by 2025. Global battery energy storage system market tends to be driven by the factors such as development of micro grids and smart grids, manufacturing of robust and reliable power electronics and increasing use of batteries in transportation sector and in residential applications. Global Battery energy storage system market segmentation has been done on the basis of technology, battery type, solution, end users and geography.
Global battery energy storage system market segmentation based on battery type, signify lithium ion battery segment acquiring largest market share i.e. 60% in 2017 of the global battery energy storage system market owing to the fact that they have longer lifespan, greater efficiency and low maintenance. Battery energy storage system market is largely dominated by Asia Pacific and is expected to have nearly 30% market share in 2017. The growing energy and transportation sector, majorly in countries such as China, Japan, India, Singapore and South Korea among others are the key factors driving the growth of APAC battery energy storage system market.
Browse Full Report: Global Energy Storage System Market Trends, Size, Growth, Outlook & Forecast 2024
Market Segmentation
On the basis of our in-depth analysis, Global Battery Energy Storage System Market can be segmented and sub-segmented as follows:
Battery Energy Storage System Market, Based on Technology
• Peak shaving
• Peak demand shifting
• Frequency regulation
• Load leveling
Battery Energy Storage System Market, Based on Battery Type
• Lithium-Ion
• Lead-Acid
• Nickel Cadmium Battery
• Vanadium Redox-Flow
• Sodium-Sulphur (Zebra) Batteries
• Others
Battery Energy Storage System Market, Based on Solution
• On-Grid Solution
• Off-Grid Solution
Battery Energy Storage System Market, Based on End-User
• Residential
• Automotive Sector
• Energy Sectors
• Others Sectors
Battery Energy Storage System Market, By Region
• North America (United States, Canada) {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
• Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• Asia Pacific battery energy storage system Market (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
“Battery Energy Storage System Market Outlook 2025” contains a detailed overview of the global battery energy storage system market. On the basis of our in-depth analysis, market can be segmented in terms of market segmentation by technology, battery type, solution and end users.
Further, for the in-depth analysis, Global Battery Energy Storage System Market Report technology and end-user encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
This competitive intelligence report also includes competitive outlook of some of the major players profiling of companies such as ABB Ltd., LG Chem, Ltd., Tesla, Inc., Samsung SDI Co, Ltd, AES Energy Storage, EnSync Energy, General Electric, Panasonic, Enersys, Active Power, Beacon Power, Greensmith Energy Management Systems, Convergent Energy and Power Inc., Haier Electronics Group Co, Ltd, Bajaj Electricals Ltd., etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Objective of Report:
• To analyze and forecast market size of battery energy storage system market.
• To calculate the expected growth rate of battery energy storage system market.
• To classify and forecast battery energy storage system market based on technology, battery type, solution, end user and geography.
• To identify market key players, driving factors, & trends of battery energy storage system market with the help of SWOT Analysis.
• To identify and analyze the profiles of leading players involved in the manufacturing and supplying of battery energy storage system market.
• To identify market opportunities for the existing and entry level players.
Overall, the report represents the global battery energy storage system market trends along with market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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