GRID CONNECTED BATTERY ENERGY STORAGE MARKET ANALYSIS
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
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
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