Global battery energy storage systems (BESS) market witnessed a market value of $3.30 billion in 2016 and is estimated to reach $14.25 billion in 2021, registering a compound annual growth rate (CAGR) of 33.95% between 2016 and 2021.
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GlobalData's latest report "Grid Connected Battery Energy Storage System, Update 2017 - Global Market Size, Competitive Landscape, Key Country Analysis, and Forecast to 2021", offers comprehensive information and understanding of the global battery energy storage system market. The report analyzes the current trend and future potential of battery energy storage market at global, regional (Asia-Pacific, Americas, Europe, and Middle East and Africa) and key countries (the US, Chile, China, India, Japan, Australia, South Korea, Germany, Italy, UK, France) level.
The report analyzes the battery energy storage market in terms of value and volume, classified by various technologies and application for the period 2011-2021 with specific focus on the years 2011, 2016, and 2021.
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The electrochemical energy storage technologies covered in the report include lead-acid batteries, flow batteries, sodium-sulfur batteries, lithium-ion batteries, and other advanced batteries.
Top five countries in the global market include the US, Japan, South Korea, Germany, and China. They represented 86% of the global total in terms of cumulative installed capacity in 2016.
The US and Japan led the market in 2016 with 30.1% and 21% shares, respectively, in 2016. In the year 2016, the Asia-Pacific region led the market holding 41.8% of the global BESS market, followed by the Americas with 32.9%, and Europe, Middle East, and Africa (EMEA) with 25.3%.
With respect to technology, lithium-ion has been the preferred technology to date and shared approximately 75% of the global market with respect to BESS installations up to 2016. It was followed by sodium-sulfur (NaS), lead-acid, flow batteries, and others.
It is expected that lithium-ion will be the key technology throughout the study period.
The application segmentation largely focuses on grid-side application, generation-side application, and end-user application. The report provides insight into the drivers and restraints affecting the battery energy storage market, competitive landscape, policies and initiatives, recent market deals, battery system cost analysis, top company profiles, and key projects.
The report is built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis by GlobalData's team of industry experts.
The report analyses battery energy storage system market. Its scope includes -
- Analysis of the growth of battery energy storage system market with a focus on market value in global and regional level including Asia-Pacific, Americas, Europe, and Middle East and Africa.
- The report provides battery energy storage system market analysis for key countries including the US, Chile, China, India, Japan, Australia, South Korea, Germany, Italy, UK, France.
- The report offers country level battery energy storage system market value and volume, for the year 2011, 2016, and 2021.
- Qualitative analysis of key market drivers and restraints, and analysis of their impacts on battery energy storage system market are discussed.
- The report provides competitive landscape at country level for the year 2016. It also covers key policies and initiatives, key deals, and key projects.
Reasons to access
The report will enhance your decision making capability in a more rapid and time sensitive manner. It will allow you to -
- Facilitate decision-making by analyzing market data on battery energy storage systems
- Develop strategies based on developments in the battery energy storage system market
- Identify key partners and business-development avenues, based on an understanding of the movements of the major competitors in the battery energy storage system market
- Respond to your competitors’ business structure, strategies, and prospects
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