Scope of the Study
Battery energy storage system that stores various forms of energy via the use of a battery technology for it to be used at a later time. It store energy from solar arrays or the electric grid and provide that energy to a home or business purpose. Modern battery energy storage system usually includes a built-in inverter and computerized control systems. Battery energy storage system has various applications like self-consumption, peak shaving, load shifting, emergency backup and various grid services. It is commonly used to smooth out the minor fluctuations in energy output for small and large electricity sources. It is also used in electric vehicles, trains and bikes.
The market study is being classified by Type (Lead-Acid Battery Energy Storageá, Ni-MH Battery Energy Storageá, Sodium Sulfur Battery Energy Storageá, Lithium Battery Energy Storageá and Others), by Application (Residential, Non-Residential, Utilities and Other) and major geographies with country level break-up.
AES Energy Storage, LLC (United States), ABB (Switzerland), LG Chem (South Korea), General Electric Company (United States), NEC (Japan), Panasonic (Japan), Samsung SDI (South Korea), Contemporary Amperex Technology co. Limited (China), Primus Power (United States) and Tesla (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Beckett Energy Systems (United States), Altairnano (United States) and Zest Energy (United Kingdom).
Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Battery Energy Storage System market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Battery Energy Storage System market by Type, Application and Region.
On the basis of geography, the market of Battery Energy Storage System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Element, the sub-segment i.e. Battery will boost the Battery Energy Storage System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Connection, the sub-segment i.e. On-Grid Connection will boost the Battery Energy Storage System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising Energy Consumption World Wide
- Increasing Demand from Electric Vehicle Sector
- Demand for Lithium-Ion Technology in the Renewable Energy Industry
- Replacement of Sodium-Sulphur Battery by Lithium-Ion Battery
- Regulatory Barriers in the Certain Parts of the World
- Lack of Availability of Vendors and Project Financing
- Growing Need for More Power Quality and Highly Efficient Energy Systems
- Increasing Demand for Grid-Connected Solutions
- High Capital Investment for System Deployment
Market Leaders and their expansionary development strategies
On 13th February 2019, The AES Corporation and Mitsubishi Corporation collaborate with Tata Power-DDL to power up South Asiaĺs largest Grid-Scale Energy Storage System in India.
On 23rd March 2018, ABB launched a new solar power storage solution REACT 2 which has a capacity of 12kWh increasing electricity self-efficiency of homes. REACT 2 inverter and energy storage solution includes a high-voltage Li-ion battery with a long life.
Key Target AudienceBattery Energy Storage System Manufacturers, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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