Grid Connected Battery Energy Storage Market, By Battery Type (Lithium Ion Battery, Lead Acid Battery, and Others), By End Users (Residential, Industrial, Utilities, and Others) and by Geography - Global Forecast to 2025

  • Published On : Jul 2018 |
  • Pages : 137 Pages |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Global Grid Connected Battery Market - Insights

An electrical grid is a network, which delivers electricity for electricity production plant to consumer. The battery storage provides flexibility for end user application such as solar power and wind power. The grid storage is classified as either front of the meter (FOM) storage and behind the meter (BTM) storage. The front of the meter is for community energy storage, utility application, and others and behind the meter storage is for both residential and commercial application. Global grid connected battery storage market generated revenue of US$ 996.8 million in 2017 and is expected to reach US$ 4,242.4 million by 2025. The market is expected to exhibit a CAGR of 20.0% in the forecast period. Increasing demand for renewable energy is one of the major driving factors for growth of the market, use of renewable energy increased the need for battery storage systems in the power grids. According to International Renewable Energy Agency, in 2015, the global renewable energy production was 5.5 million Giga watt hour up from 5.3 million Giga watt hour in 2014. Hence, this increasing production of renewable energy has accelerated growth of the market, globally.

Lithium-ion battery segment held the dominant position in the global grid connected battery storage market in 2017

Lithium-ion battery held the dominant position in the market in 2017 and is expected to retain its dominance throughout the forecast period. Due to advantages of Lithium ion battery such as high energy density, low self-discharge, low maintenance have accelerated the segment in the market. Lithium ion battery are deployed in wide range of application such as from small scale batteries used in residential systems to multi-megawatt batteries used for utility application. In addition to this, due to advantage of high energy density and power density and declining cost of lithium ion battery is a major factor for growth of the segment in the grid connected battery market.

Figure. Global Grid Connected Battery Market Share (%), by Region, 2017 

Grid Connected Battery Energy Storage  | Coherent Market Insights

Asia Pacific held the dominant position in the grid connected battery market in 2017

On the basis of geography, the grid connected battery market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The grid connected battery market in Asia Pacific region held the dominant position in the global market in 2017 and is projected to retain its dominance throughout the forecast period. China, India, and Japan are growth engines in the grid connected batteries market in Asia Pacific. Increasing investment in smart city initiatives is one of the key driving factors for growth of the grid connected battery storage market in the region. The integration of smart grid technology for the development of advanced electric transmission and distribution infrastructure in smart cities have accelerated the market in this region. For instance, according to the Indian government Union Budget 2018-19, the government has selected 99 cities under the smart city mission and will provide a fund of US$ 3.1 billion for the development of these cities. Moreover, increasing electricity production in Asia Pacific countries have also accelerated demand for grid connected battery storage. For instance, according to Coherent Market Insights, in 2017, India produced 1,156 terawatt hours electricity up from 1,098 terawatt hours in 2016. In 2017, 16% of the total electricity produced by renewable resources in India. Similarly, in 2017, China produced 6,529 terawatt hours up from 6165 terawatt hours in 2016. Hence, this increasing production of electricity have accelerated growth of the market of grid connected battery in this region. In addition to this, rising government initiative for increasing production of renewable energy have also accelerated growth of the market in this region. For instance, according to Indian Brand Equity Foundation, the Indian government released its road map to achieve 175 GW capacity in renewable energy by 2022, in which 100 GW is for solar power and 60 GW is of wind power. Similarly, in 2017, the China government announced plans to invest US$ 360 billion in renewable energy by 2020. Moreover, North America grid connected battery market held the second position in the market. The U.S. and Canada are some of the major countries in this region. The high production of renewable energy in the region is a major driving factor for growth of the market. For instance, according to Coherent Market Insights, in 2017, Canada produced 712 terawatt hours electricity, of which 65% energy was produced by renewable resources.

Key Players- Global Grid Connected Battery Storage Market.

The major players operating in the global grid connected battery storage market include NGK Insulators Ltd, BYD Company, NEC Corporation, Samsung SDI Co., LG Electronics Inc., Xtreme Power, Saft Groupe S.A., AES Energy Storage, Alevo, Delco, Altair Nanotechnologies Inc., EnerDel, GNB Corporation, Ecoult, and Powertree Services Inc.

The grid connected battery energy storage system is an integration of battery with a two way power converter that connects the direct current battery to the alternate current grid, and a real-time control software that helps to balance the frequency and power flows, while optimizing the efficiency and service life of the system.

Market Dynamics

Increasing investment in renewable energy projects is one of the major driving factors for growth of the market. For instance, in 2018, AVAADA Energy, an India-based company, announced that they have signed a Memorandum of Understanding with Indian government to invest US$ 1.55 billion for the development of 1,600 MW solar project in Uttar Pradesh, India. Similarly, in 2017, the U.K. government announced plans to invest US$ 655 million (Euro 557) for renewable energy as part of the government’s Clean Growth Strategy. Moreover, high production of renewable energy in European countries have accelerated growth of the grid connected battery storage market. For instance, according to Coherent Market Insights, in Germany 34% of the total electricity was produced by renewable resources in 2017. Similarly, in Spain 32% of the total electricity was produced by renewable resources in 2017.

Key features of the study:

  • This report provides in-depth analysis of grid connected battery energy storage market, market size (US$ Million), and Compound Annual Growth Rate (CAGR %) for the forecast period (2018– 2026), considering 2017 as the base year.
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market.
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players.
  • It profiles leading players in the global grid connected battery energy storage market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, grid connected battery energy storage market capital, key developments, strategies, and future plans.
  • Companies covered as part of this study include NGK Insulators Ltd., BYD Company, NEC Corporation, Samsung SDI Co., LG Electronics Inc., Xtreme Power, Saft Groupe S.A., AES Energy Storage, Alevo, Delco, Altair Nanotechnologies Inc., EnerDel, GNB Corporation, Ecoult, and Powertree Services Inc.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launches, product upgrades, market expansion, and marketing tactics.
  • The global grid connected battery energy storage market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts.
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global grid connected battery energy storage market.

Detailed Segmentation:

  • Global Grid Connected Battery Energy Storage Market, By Battery Type:
    • Lithium-Ion Battery
    • Lead Acid Battery
    • Others
  • Global Grid Connected Battery Energy Storage Market, By End Users:
    • Residential
    • Industrial
    • Utilities
    • Others
  • Global Grid Connected Battery Energy Storage Market, By Geography:
    • North America
      • By Battery Type
        • Lithium-Ion Battery
        • Lead Acid Battery
        • Others
      • By End Users
        • Residential
        • Industrial
        • Utilities
        • Others
      • By Country:
        • U.S.
        • Canada
    • Europe
      • By Battery Type
        • Lithium-Ion Battery
        • Lead Acid Battery
        • Others
      • By End Users
        • Residential
        • Industrial
        • Utilities
        • Others
      • By Country:
        • Germany
        • UK
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Battery Type
        • Lithium-Ion Battery
        • Lead Acid Battery
        • Others
      • By End Users
        • Residential
        • Industrial
        • Utilities
        • Others
      • By Country:
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Latin America
      • By Battery Type
        • Lithium-Ion Battery
        • Lead Acid Battery
        • Others
      • By End Users
        • Residential
        • Industrial
        • Utilities
        • Others
      • By Country:
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East
      • By Battery Type
        • Lithium-Ion Battery
        • Lead Acid Battery
        • Others
      • By End Users
        • Residential
        • Industrial
        • Utilities
        • Others
      • By Country:
        • GCC CountriesIsrael
        • Rest of Middle East
    • Africa
      • By Battery Type
        • Lithium-Ion Battery
        • Lead Acid Battery
        • Others
      • By End Users
        • Residential
        • Industrial
        • Utilities
        • Others
      • By Country:
        • Northern Africa
        • Central Africa
        • South Africa
  • Company Profiles
    • NGK Insulators Ltd.
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Recent Developments/ Updates
    • BYD Company
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Recent Developments/ Updates
    • NEC Corporation
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Recent Developments/ Updates
    • Samsung SDI Co.
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Recent Developments/ Updates
    • LG Electronics Inc.
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Recent Developments/ Updates
    • Xtreme Power
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Recent Developments/ Updates
    • Saft Groupe S.A.
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Recent Developments/ Updates
    • AES Energy Storage
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Recent Developments/ Updates
    • Alevo
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Recent Developments/ Updates
    • Delco
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Recent Developments/ Updates
    • Altair Nanotechnologies Inc.
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Recent Developments/ Updates
    • EnerDel
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Recent Developments/ Updates
    • GNB Corporation
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Recent Developments/ Updates
    • Ecoult
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Recent Developments/ Updates
    • Powertree Services Inc.
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Recent Developments/ Updates

Table of Contents

  1. Research Objectives and assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet By Battery Type
      • Market Snippet By End User
      • Market Snippet By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trends
    • Value Chain Analysis
    • Merger and Acquisitions
    • New Product Approvals/Launch
    • Porter’s Analysis
    • PEST Analysis
  4. Global Grid Connected Battery Storage Market, By Battery Type, 2015 – 2025 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2025 (%)
      • Segment Trends
    • Lithium-Ion Battery
      • Introduction
      • Market Size and Forecast, 2017 - 2025, (US$ Million)
    • Lead Acid Battery
      • Introduction
      • Market Size and Forecast, 2017 - 2025, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2017 - 2025, (US$ Million)
  5. Global Grid Connected Battery Storage Market, By End User, 2015 – 2025 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2025 (%)
      • Segment Trends
    • Residential
      • Introduction
      • Market Size and Forecast, 2017 - 2025, (US$ Million)
    • Industrial
      • Introduction
      • Market Size and Forecast, 2017 - 2025, (US$ Million)
    • Utilities
      • Introduction
      • Market Size and Forecast, 2017 - 2025, (US$ Million)
  6. Global Grid Connected Battery Storage Market, By Geography, 2015 - 2025 (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2025 (%)
      • Regional Trends
    • North America
      • Introduction
      • Market Size and Forecast, By Battery Type, 2017 - 2025 (US$ Million)
      • Market Size and Forecast, By End User, 2017 - 2025 (US$ Million)
      • Market Share Analysis, By Country, 2017 and 2025 (%)
        • U.S.
        • Canada
    • Europe
      • Introduction
      • Market Size and Forecast, By Battery Type, 2017 - 2025 (US$ Million)
      • Market Size and Forecast, By End User, 2017 - 2025 (US$ Million)
      • Market Share Analysis, By Country, 2017 and 2025 (%)
        • Germany
        • U.K.
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Introduction
      • Market Size and Forecast, By Battery Type, 2017 - 2025 (US$ Million)
      • Market Size and Forecast, By End User, 2017 - 2025 (US$ Million)
      • Market Share Analysis, By Country, 2017 and 2025 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Introduction
      • Market Size and Forecast, By Battery Type, 2017 - 2025 (US$ Million)
      • Market Size and Forecast, By End User, 2017 - 2025 (US$ Million)
      • Market Share Analysis, By Country, 2017 and 2025 (%)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East
      • Introduction
      • Market Size and Forecast, By Battery Type, 2017 - 2025 (US$ Million)
      • Market Size and Forecast, By End User, 2017 - 2025 (US$ Million)
      • Market Share Analysis, By Country, 2017 and 2025 (%)
        • GCC Countries
        • Israel
        • Rest of Middle East
    • Africa
      • Introduction
      • Market Size and Forecast, By Battery Type, 2017 - 2025 (US$ Million)
      • Market Size and Forecast, By End User, 2017 - 2025 (US$ Million)
      • Market Share Analysis, By Country, 2017 and 2025 (%)
        • Northern Africa
        • Central Africa
        • South Africa
  7. Competitive Landscape
    • NGK Insulators Ltd.
      • Company Highlights
      • Key Developments
      • Product Portfolio
      • Strategic Presence
    • BYD
      • Company Highlights
      • Key Developments
      • Product Portfolio
      • Strategic Presence
    • NEC
      • Company Highlights
      • Key Developments
      • Product Portfolio
      • Strategic Presence
    • Samsung SDI
      • Company Highlights
      • Key Developments
      • Product Portfolio
      • Strategic Presence
    • LG
      • Company Highlights
      • Key Developments
      • Product Portfolio
      • Strategic Presence
    • Xtreme Power
      • Company Highlights
      • Key Developments
      • Product Portfolio
      • Strategic Presence
    • Saft
      • Company Highlights
      • Key Developments
      • Product Portfolio
      • Strategic Presence
    • AES Energy Storage
      • Company Highlights
      • Key Developments
      • Product Portfolio
      • Strategic Presence
    • Alevo
      • Company Highlights
      • Key Developments
      • Product Portfolio
      • Strategic Presence
    • Delco
      • Company Highlights
      • Key Developments
      • Product Portfolio
      • Strategic Presence
    • Altair Nanotechnologies Inc.
      • Company Highlights
      • Key Developments
      • Product Portfolio
      • Strategic Presence
    • EnerDel
      • Company Highlights
      • Key Developments
      • Product Portfolio
      • Strategic Presence
    • GNB Corporation
      • Company Highlights
      • Key Developments
      • Product Portfolio
      • Strategic Presence
    • Ecoult
      • Company Highlights
      • Key Developments
      • Product Portfolio
      • Strategic Presence
    • Powertree Services Inc.
      • Company Highlights
      • Key Developments
      • Product Portfolio
      • Strategic Presence
    • Analyst Views
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

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