Global Distributed Energy Storage System Market Overview:
Distributed Energy Storage System (DESS) is characteristically flexible in nature and can be deployed rapidly. It can generate multiple value streams, also have the potential to provide multiple grids for customer ease and usage. Rising consumer awareness and demand for efficient energy consumption paired with the need for smart homes with operational load management is expected to play a main role in the growth of distributed energy storage system industry.
- Increasing Consumer Awareness Regarding Energy Consumption
- Escalating Demand for Generated Electricity for Uninterrupted Power Supply (UPS)
- Rising Installation of Renewable Energy Resources
- High-Cost Factor Associated with the DESS
- Favorable Compliance Standards Coupled with Upsurge in Power Consumption
- Need for Cost Reduction and Effective Software and Controls
The DESS market is fragmented with several market players who have involved in several product launch and collaboration. For instance, The Energy Storage Partnership (ESP) comprises the World Bank Group and 29 organizations working together to help develop energy storage solutions tailored to the needs of developing countries.
Some of the key players profiled in the report are ABB (Switzerland), Siemens (Germany), BYD (China), MCV Energy (Egypt), Johnson Controls (United States), Schneider Electric (France), AES Energy Storage (United States), Toshiba Corporation (Japan), Hitachi Global (Japan), GS Yuasa Corporation (Japan), Sharp Global (Japan), LG Chem Ltd. (South Korea) and Nova Greentech, Inc. (United States). Additionally, following companies can also be profiled that are part of our coverage like NGK Insulators, Inc. (Japan), Exide Technologies (United States), Nippon Chemi-Con Corporation (Japan) and Beacon Power (United States). Considering Market by Technology, the sub-segment i.e. Pumped Hydro will boost the Distributed Energy Storage System market.
Latest Market Insights:
In March 2019, BYD Company has signed a deal which could see up to 100MWh of its systems deployed in Mexico as part of a distributed energy and large-scale solar build out by finance group Pireos Capital., Pireos, an energy fund created to finance projects combining PV and energy storage systems (ESS), has a two-year plan in place to execute 240MW of distributed energy and large-scale solar projects for Mexico. and In February 2019, Tata Power, The AES Corporation and Mitsubishi Corporation inaugurated India’s first grid-scale battery-based energy storage system in Rohini, Delhi. The 10 Megawatt MW grid-connected system, owned by AES and Mitsubishi Corporation will pave the path for wider adoption of grid-scale energy storage technology across India.
In April 2019, NEC Energy Solutions through its exclusive distributor in China, Puxing Energy, continues to increase its market penetration with the commissioning of two 9MW projects for Ray Power. The energy storage systems, owned and operated by Ray Power, are providing frequency regulation for the Hang-Jin and Feng-Run power. and NEC has also been awarded a 6MW project by Ray Power that is currently under construction and located in Puzhou City, Shanxi Province.
What Can be Explored with the Distributed Energy Storage System Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Distributed Energy Storage System Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Distributed Energy Storage System
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Distributed Energy Storage System market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Distributed Energy Storage System market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Distributed Energy Storage System Service Providers, Industry Associations, Potential Investors, Distributed Energy Storage System Suppliers, Government and Regulatory Bodies and Marketing firms.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.