Battery Energy Storage System Market By Battery Type (Lithium ion, Lead acid, Flow batteries, Others), By Connection type (On grid, Off grid), By Application (Front of the meter, Behind the meter): Global Opportunity Analysis and Industry Forecast, 2021-2031
Battery energy storage systems are devices that enable energy from renewables, like solar and wind, to be stored and then released when customers need power most. The growth of the battery energy storage system market is majorly driven by increase in demand for renewable energy sources along with rise in concerns among the governments of several nations about the adverse effects climate change. A rapid shift toward low carbon energy generation is witnessed round the globe which plays a vital role fuels the growth of the battery energy storage system market. However, high capital expenditure required for installing battery energy storage systems is acting as a prime restraint of the battery energy storage system market. On the contrary, rise in number of rural electrification projects worldwide is anticipated to provide lucrative opportunities for the measurement and test equipment industry during the forecast period.
The battery energy storage system market is segmented on the basis of battery type, connection type, application, behind the meter type, industrial type and region. By battery type, the market is divided into lithium ion, lead acid, flow batteries and others. The connection type segment is bifurcated on grid and off grid. By application, the market is analyzed across front of the meter and behind the meter. The behind the meter segmented is further divided into commercial, industrial and residential. The industrial segment is divided into manufacturing, automotive and others.
Region wise, the measurement and testing market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Poland, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Thailand, Philippines, Indonesia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The key players operating in the market include battery energy storage system market players, such as EnerSys, BYD Company Limited, EVE Energy Co., Ltd., Siemens AG, LG Energy Solutions Co., Ltd., Kokam, Narada Asia Pacific Pte. Ltd., ABB Ltd., Tesla, Fluence Energy, Inc., General Electric, TotalEnergies, Tata Power Company Limited, Samsung SDI Co., Ltd., Nissan Motor Co., Ltd., VRB Energy and Black & Veatch Holding Company.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the battery energy storage system market analysis from 2021 to 2031 to identify the prevailing battery energy storage system market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the battery energy storage system market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global battery energy storage system market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Battery Type
Lithium ion
Lead acid
Flow batteries
Others
By Connection type
On grid
Off grid
By Application
Front of the meter
Behind the meter
End User
Commercial
Industrial
Residential
By Region
North America
U.S.
Canada
Mexico
Europe
U.K.
Germany
France
Italy
Spain
Russia
Netherlands
Belgium
Poland
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Malaysia
Thailand
Philippines
Indonesia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
ABB
SAMSUNG SDI Co., Ltd.
Black & Veatch
BYD Company Limited
Enersys
EVE Energy Co., Ltd.
Fluence Corporation
GE
Kokam
LG Energy Solutions Co., Ltd.
Narada
Nissan
Siemens Energy
Tata Power
Total
Tesla
VRB Energy
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