Energy Storage Systems Market Size & Forecast 2022

Opportunities and Forecasts, 2014 – 2022

Pages: 146 Published: 2016

ENERGY STORAGE SYSTEMS MARKET

“China and South Korea are driving the growth of energy storage systems market in Asia-pacific with an increasing focus on production of electric vehicles in future.”

Eswara Prasad

ENERGY STORAGE SYSTEMS MARKET OVERVIEW • Energy Storage Systems Market Report, published by Allied Market Research, forecasts that the global market was valued at $172,236 million in 2015, is expected to garner $264,953 million by 2022, registering a CAGR of 6.4% during the period 2016 - 2022.

• It is anticipated that pumped hydro storage technology segment would generate the highest revenue throughout the forecast period.

• In the year 2015, Asia-Pacific led the global market and is expected to maintain its position throughout the forecast period.

• The increasing production of renewable energy by major economies across the world is driving the market for energy storage systems.

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BREAKDOWN OF PRIMARY RESPONDENTS ENERGY STORAGE SYSTEMS MARKET

ENERGY STORAGE SYSTEMS MARKET KEY BENEFITS • The study provides quantitative analysis of the world energy storage systems market with current trends and future estimations through 2014‐2022 to identify the prevailing market opportunities to capitalize on.

• Extensive analysis by end-user industry and method of synthesis predicts the various types of energy storage systems used in different end-user applications.

• Competitive intelligence highlights the business practices followed by leading players across various regions.

• An in-depth analysis of current research and clinical developments within world energy storage systems market is provided with key dynamic factors that affect the market behavior.

TOP INVESTMENT POCKETS OF ENERGY STORAGE SYSTEMS MARKET

ENERGY STORAGE SYSTEMS MARKET KEY FINDINGS • Pumped hydro storage segment is expected to account for major market share in 2015 and is expected to stay in the dominating position along the forecast period • Non-residential end-user segment is expected to grow at a CAGR of 7.6% during the forecast period • Asia-Pacific is anticipated to lead the market throughout 2022, growing at a CAGR of 7.3%, in value terms.

• Flywheel is the fastest growing segment in the Asia-pacific region growing at an estimated CAGR of 28.9% in terms of value • In North America, U. S occupies a major share of around 83.8% in 2015

CHINA ENERGY STORAGE SYSTEMS MARKET: 2014 - 2022 China is major country in terms of production and consumption of energy storage systems in Asia-pacific. The country is flanked with major storage systems manufactures such as BYD Battery Co. Ltd. Further China aims to increase the production of electric vehicles which will propel the battery storage systems market in Asia-pacific.

KEY PLAYERS IN INDUSTRY

• • • • • • • • •

LG Chem., ABB Ltd. AES Energy Storage, LLC Beacon Power, LLC, BYD Company Limited Convergent Energy Power Inc. Greensmith Energy Management Systems Eos Energy Storage Seeo Inc. S&C Electric Company

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OPPORTUNITIES IN ENERGY STORAGE SYSTEMS MARKET

ENERGY STORAGE SYSTEMS MARKET SEGMENTATION

ENERGY STORAGE SYSTEMS MARKET BY GEOGRAPHY

North America Europe, Asia Pacific LAMEA

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