The Battery Energy Storage System market is expected to grow from USD 3.75 billion in 2019 to USD 21.72 billion by 2025 at a CAGR of 34% from 2019 to 2025.
The battery energy storage system market has expanded significantly in recent years owing to the increasing demand for renewable energy sources. Some necessary applications of battery energy storage systems include electrification of the grid and this needs a lot of renewable energy resources, therefore contribute to the consistent increase in demand for battery energy storage systems. Gradual advancement in energy storage technology leads to important value reduction and enhances the efficiency of the battery energy storage system. This, in turn, is probably going to boost its demand within the market throughout the forecast period. The global market is segregated on the basis of Type as Lithium-Ion Batteries, Sodium-Sulfur Batteries, Advanced Lead-Acid Batteries, and Flow Batteries. Based on Connection the market is segmented in On-Grid and Off-Grid. Based on Application the market is segmented in Residential, Non-Residential, and Utilities. Based on Ownership, the market is segmented in Customer Owned, Third-Party Owned, and Utility Owned. The report also bifurcates the market based on Element in Battery and Hardware.
The global market report provides geographical analysis covering regions, such as North America, Europe, Asia-Pacific, and the Rest of the World. The market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Rivalry
ABB, LG Chem, NEC, Panasonic, Samsung SDI, AEG Power Solutions, General Electric, Hitachi, Siemens AG, Tesla, and others are among the major players in the market. The companies studied in terms of product strategy and various n several growths and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global Battery Energy Storage System market has been segmented as below:
By Type
By Connection
By Application
By Ownership
By Element
By Region
By Company
The report covers the below scope:
The years considered for the study are as follows:
Report Scope:
The global market report scope includes a detailed study covering underlying factors influencing the industry trends. The report covers the analysis of regional and country-level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes a detailed competitive outlook covering market shares and profiles key participants in the market share. Major industry players with significant revenue share include ABB, LG Chem, NEC, Panasonic, Samsung SDI, AEG Power Solutions, General Electric, Hitachi, Siemens AG, Tesla, and others.
Why to Buy this Report:
Target Audience:
The report targeted the existing players in the industry is as follows:
Free and Paid Customization based on the requirement
Report Content
1.1 Key Insights
1.2 Report Overview
1.3 Markets Covered
1.4 Stakeholders
2.1 Research Scope
2.2 Market Research Process
2.3 Research Data Analysis
2.4.1 Secondary Research
2.4.2 Primary Research
2.4.3 Models for Estimation
2.5 Market Size Estimation
2.5.1 Bottom-Up Approach - Segmental Market Analysis
2.5.2 Top-Down Approach - Parent Market Analysis
4.1 Introduction
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Challenges
4.2 Porter's Five Force Analysis
5.1 Introduction
5.2 Lithium-Ion Batteries
5.2.1 Market Overview
5.2.2 Market Size and Forecast
5.3 Sodium-Sulfur Batteries
5.3.1 Market Overview
5.3.2 Market Size and Forecast
5.4 Advanced Lead-Acid Batteries
5.4.1 Market Overview
5.4.2 Market Size and Forecast
5.5 Flow Batteries
5.5.1 Market Overview
5.5.2 Market Size and Forecast
6.1 Introduction
6.2 On-Grid
6.2.1 Market Overview
6.2.2 Market Size and Forecast
6.3 Off-Grid
6.3.1 Market Overview
6.3.2 Market Size and Forecast
7.1 Introduction
7.2 Residential
7.2.1 Market Overview
7.2.2 Market Size and Forecast
7.3 Non-Residential
7.3.1 Market Overview
7.3.2 Market Size and Forecast
7.4 Utilities
7.4.1 Market Overview
7.4.2 Market Size and Forecast
8.1 Introduction
8.2 Customer-Owned
8.2.1 Market Overview
8.2.2 Market Size and Forecast
8.3 Third-Party Owned
8.3.1 Market Overview
8.3.2 Market Size and Forecast
8.4 Utility Owned
8.4.1 Market Overview
8.4.2 Market Size and Forecast
9.1 Introduction
9.2 Battery
9.2.1 Market Overview
9.2.2 Market Size and Forecast
9.3 Hardware
9.3.1 Market Overview
9.3.2 Market Size and Forecast
10.1 Introduction
10.2 North America
10.2.1 North America Market, By Type
10.2.2 North America Market, By Connection
10.2.3 North America Market, By Application
10.2.4 North America Market, By Ownership
10.2.5 North America Market, By Element
10.3 Europe
10.3.1 Europe Market, By Type
10.3.2 Europe Market, By Connection
10.3.3 Europe Market, By Application
10.3.4 Europe Market, By Ownership
10.3.5 Europe Market, By Element
10.4 Asia-Pacific
10.4.1 Asia-Pacific Market, By Type
10.4.2 Asia-Pacific Market, By Connection
10.4.3 Asia-Pacific Market, By Application
10.4.4 Asia-Pacific Market, By Ownership
10.4.5 Asia-Pacific Market, By Element
10.5 Rest of the World
10.5.1 Rest of the World Market, By Type
10.5.2 Rest of the World Market, By Connection
10.5.3 Rest of the World Market, By Application
10.5.4 Rest of the World Market, By Ownership
10.5.5 Rest of the World Market, By Element
11.1 Key Insights
11.2 Company Market Share Analysis
11.3 Strategic Outlook
11.3.1 Mergers & Acquisitions
11.3.2 New Product Development
11.3.3 Portfolio/Production Capacity Expansions
11.3.4 Joint Ventures, Collaborations, Partnerships & Agreements
11.3.5 Others
12.1 ABB
12.1.1 Company Overview
12.1.2 Product/Service Landscape
12.1.3 Financial Overview
12.1.4 Recent Developments
12.2 LG Chem
12.2.1 Company Overview
12.2.2 Product/Service Landscape
12.2.3 Financial Overview
12.2.4 Recent Developments
12.3 NEC
12.3.1 Company Overview
12.3.2 Product/Service Landscape
12.3.3 Financial Overview
12.3.4 Recent Developments
12.4 Panasonic
12.4.1 Company Overview
12.4.2 Product/Service Landscape
12.4.3 Financial Overview
12.4.4 Recent Developments
12.5 Samsung SDI
12.5.1 Company Overview
12.5.2 Product/Service Landscape
12.5.3 Financial Overview
12.5.4 Recent Developments
12.6 AEG Power Solutions
12.6.1 Company Overview
12.6.2 Product/Service Landscape
12.6.3 Financial Overview
12.6.4 Recent Developments
12.7 General Electric
12.7.1 Company Overview
12.7.2 Product/Service Landscape
&nb