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Energy Storage Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global energy storage systems market reached a volume of 196.14 GW in 2021. Looking forward, IMARC Group expects the market to reach a volume of 344.46 GW by 2027, exhibiting a CAGR of 9.20% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

An energy storage system (ESS) is designed to store energy, such as radiation, chemical, gravitational, potential, electrical, latent heat, and kinetic, which can be used later to carry out useful operations. It offers various technological solutions for regulating power supply, building more resilient energy infrastructure, and saving costs for utilities and customers. In addition, it improves the efficiency and capacities of the electric grid while minimizing greenhouse gas (GHG) emissions. As a result, it finds extensive applications in the residential, commercial, utilities, and transportation sectors across the globe.

Energy Storage Systems Market Trends:

At present, there is a rise in the utilization of clean and renewable energy around the world to reduce global warming, air pollution, and considerable reliance on fossil fuels. This, along with the growing requirements of efficient grid management, constant load management, and continuous power supply among various organizations, represents one of the key factors driving the market. Moreover, governments of several countries are extensively investing in renewable energy technologies (RET). This, coupled with increasing government incentives to promote the adoption of electric vehicles (EVs) across the globe, is propelling the growth of the market. Additionally, the growing employment of lithium-ion batteries due to their high efficiency, better temperature performance, and low self-discharge over time is positively influencing the market. Besides this, the rising installation of thermal energy storage (TES) systems in buildings as advanced energy storage systems is offering lucrative growth opportunities to end-users and industry investors. Apart from this, the increasing electrification, in confluence with the growing number of transmission and distribution stations worldwide, is projected to catalyze the demand for energy storage systems globally in the coming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global energy storage systems market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on technology, application and end user.

Breakup by Technology:

  • Pumped Hydro
  • Electrochemical Storage
  • Electromechanical Storage
  • Thermal Storage
     

Breakup by Application:

  • Stationary
  • Transportation
     

Breakup by End User:

  • Residential
  • Non-Residential
  • Utilities
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Altair Nanotechnologies Inc., Eguana Technologies, Electrovaya Inc., Exide Industries Limited, Furukawa Electric Co. Ltd., General Electric Company, Kokam Ltd., LG Chem Ltd., Saft (TotalEnergies SE), Samsung SDI Co. Ltd., Schneider Electric SE, Showa Denko K. K. and Tata Power Company Limited.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units Billion US$, GW
Segment Coverage Technology, Application, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Altair Nanotechnologies Inc., Eguana Technologies, Electrovaya Inc., Exide Industries Limited, Furukawa Electric Co. Ltd., General Electric Company, Kokam Ltd., LG Chem Ltd., Saft (TotalEnergies SE), Samsung SDI Co. Ltd., Schneider Electric SE, Showa Denko K. K. and Tata Power Company Limited.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Key Questions Answered in This Report:

  • How has the global energy storage systems market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global energy storage systems market?
  • What are the key regional markets?
  • What is the breakup of the market based on the technology?
  • What is the breakup of the market based on the application?
  • What is the breakup of the market based on the end user?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global energy storage systems market and who are the key players?
  • What is the degree of competition in the industry?

1    Preface
2    Scope and Methodology
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction
    4.1    Overview
    4.2    Key Industry Trends
5    Global Energy Storage Systems Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Technology
    6.1    Pumped Hydro
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Electrochemical Storage
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Electromechanical Storage
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Thermal Storage
        6.4.1 Market Trends
        6.4.2 Market Forecast
7    Market Breakup by Application
    7.1    Stationary
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Transportation
        7.2.1 Market Trends
        7.2.2 Market Forecast
8    Market Breakup by End User
    8.1    Residential
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Non-Residential
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Utilities
        8.3.1 Market Trends
        8.3.2 Market Forecast
9    Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia-Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10    SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11    Value Chain Analysis
12    Porters Five Forces Analysis
    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Analysis
14    Competitive Landscape
    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    Altair Nanotechnologies Inc.
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio
        14.3.2    Eguana Technologies
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
           14.3.2.3 Financials
           14.3.2.4 SWOT Analysis
        14.3.3    Electrovaya Inc.
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio
           14.3.3.3 Financials
           14.3.3.4 SWOT Analysis
        14.3.4    Exide Industries Limited
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio
           14.3.4.3 Financials
        14.3.5    Furukawa Electric Co. Ltd.
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio
           14.3.5.3 Financials
           14.3.5.4 SWOT Analysis
        14.3.6    General Electric Company
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio
           14.3.6.3 Financials
           14.3.6.4 SWOT Analysis
        14.3.7    Kokam Ltd.
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
        14.3.8    LG Chem Ltd.
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio
           14.3.8.3 Financials
           14.3.8.4 SWOT Analysis
        14.3.9    Saft (TotalEnergies SE)
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
        14.3.10    Samsung SDI Co. Ltd.
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio
           14.3.10.3 Financials
           14.3.10.4 SWOT Analysis
        14.3.11    Schneider Electric SE
           14.3.11.1 Company Overview
           14.3.11.2 Product Portfolio
           14.3.11.3 Financials
           14.3.11.4 SWOT Analysis
        14.3.12    Showa Denko K. K.
           14.3.12.1 Company Overview
           14.3.12.2 Product Portfolio
           14.3.12.3 Financials
           14.3.12.4 SWOT Analysis
        14.3.13    Tata Power Company Limited
           14.3.13.1 Company Overview
           14.3.13.2 Product Portfolio
           14.3.13.3 Financials
           14.3.13.4 SWOT Analysis

List of Figures

Figure 1: Global: Energy Storage Systems Market: Major Drivers and Challenges
Figure 2: Global: Energy Storage Systems Market: Volume Trends (in GW), 2016-2021
Figure 3: Global: Energy Storage Systems Market Forecast: Volume Trends (in GW), 2022-2027
Figure 4: Global: Energy Storage Systems Market: Value Trends (in Billion US$), 2016-2021
Figure 5: Global: Energy Storage Systems Market Forecast: Value Trends (in Billion US$), 2022-2027
Figure 6: Global: Energy Storage Systems Market: Breakup by Technology (in %), 2021
Figure 7: Global: Energy Storage Systems Market: Breakup by Application (in %), 2021
Figure 8: Global: Energy Storage Systems Market: Breakup by End User (in %), 2021
Figure 9: Global: Energy Storage Systems Market: Breakup by Region (in %), 2021
Figure 10: Global: Energy Storage Systems (Pumped Hydro) Market: Value Trends (in Million US$), 2016 & 2021
Figure 11: Global: Energy Storage Systems (Pumped Hydro) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 12: Global: Energy Storage Systems (Electrochemical Storage) Market: Value Trends (in Million US$), 2016 & 2021
Figure 13: Global: Energy Storage Systems (Electrochemical Storage) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 14: Global: Energy Storage Systems (Electromechanical Storage) Market: Value Trends (in Million US$), 2016 & 2021
Figure 15: Global: Energy Storage Systems (Electromechanical Storage) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 16: Global: Energy Storage Systems (Thermal Storage) Market: Value Trends (in Million US$), 2016 & 2021
Figure 17: Global: Energy Storage Systems (Thermal Storage) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 18: Global: Energy Storage Systems (Stationary) Market: Value Trends (in Million US$), 2016 & 2021
Figure 19: Global: Energy Storage Systems (Stationary) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 20: Global: Energy Storage Systems (Transportation) Market: Value Trends (in Million US$), 2016 & 2021
Figure 21: Global: Energy Storage Systems (Transportation) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 22: Global: Energy Storage Systems (Residential) Market: Value Trends (in Million US$), 2016 & 2021
Figure 23: Global: Energy Storage Systems (Residential) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 24: Global: Energy Storage Systems (Non-Residential) Market: Value Trends (in Million US$), 2016 & 2021
Figure 25: Global: Energy Storage Systems (Non-Residential) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 26: Global: Energy Storage Systems (Utilities) Market: Value Trends (in Million US$), 2016 & 2021
Figure 27: Global: Energy Storage Systems (Utilities) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 28: North America: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
Figure 29: North America: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 30: United States: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
Figure 31: United States: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 32: Canada: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
Figure 33: Canada: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 34: Asia-Pacific: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
Figure 35: Asia-Pacific: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 36: China: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
Figure 37: China: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 38: Japan: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
Figure 39: Japan: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 40: India: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
Figure 41: India: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 42: South Korea: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
Figure 43: South Korea: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 44: Australia: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
Figure 45: Australia: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 46: Indonesia: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
Figure 47: Indonesia: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 48: Others: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
Figure 49: Others: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 50: Europe: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
Figure 51: Europe: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 52: Germany: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
Figure 53: Germany: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 54: France: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
Figure 55: France: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 56: United Kingdom: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
Figure 57: United Kingdom: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 58: Italy: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
Figure 59: Italy: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 60: Spain: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
Figure 61: Spain: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 62: Russia: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
Figure 63: Russia: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 64: Others: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
Figure 65: Others: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 66: Latin America: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
Figure 67: Latin America: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 68: Brazil: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
Figure 69: Brazil: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 70: Mexico: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
Figure 71: Mexico: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 72: Others: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
Figure 73: Others: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 74: Middle East and Africa: Energy Storage Systems Market: Value Trends (in Million US$), 2016 & 2021
Figure 75: Middle East and Africa: Energy Storage Systems Market: Breakup by Country (in %), 2021
Figure 76: Middle East and Africa: Energy Storage Systems Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 77: Global: Energy Storage Systems Industry: SWOT Analysis
Figure 78: Global: Energy Storage Systems Industry: Value Chain Analysis
Figure 79: Global: Energy Storage Systems Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Energy Storage Systems Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Energy Storage Systems Market Forecast: Breakup by Technology (in Million US$), 2022-2027
Table 3: Global: Energy Storage Systems Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 4: Global: Energy Storage Systems Market Forecast: Breakup by End User (in Million US$), 2022-2027
Table 5: Global: Energy Storage Systems Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Energy Storage Systems Market: Competitive Structure
Table 7: Global: Energy Storage Systems Market: Key Players


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