Global Battery Energy Storage Market Research Report 2023(Status and Outlook)

Global Battery Energy Storage Market Research Report 2023(Status and Outlook)



Report Overview

The lithium-ion batteries have a long lifespan of 5–10 years, and up to 98% efficiency (i.e., only 2% of electrical charge is lost during use). The lithium-ion batteries have very high energy and power densities, which leads to lower weight with low standby losses, and high life expectancy. Lithium-ion batteries continue to hold a large size of the battery energy storage system market owing to its features such as high energy density, self-discharge capability, low maintenance requirement, less weight, and high life expectancy. Battery energy storage system is well suited for smoothing the variable output of renewables and controlling the rapid ramping up and down of solar as well as wind generation. The grid operators and regulators are aware of the importance of battery energy storage systems and their ability to cater through multiple services. The utility operators are using these systems in their resource planning processes, which reduces the system costs and increases storage capacity.

The major drivers for the growth of the market include the increasing demand for grid-connected solutions, high demand for the lithium-ion technology in the renewable energy industry, and declining prices of lithium-ion batteries. However, the factors such as the installation of battery energy storage systems in remote locations pose a challenge for the players in the market. the Americas dominated the battery energy storage market for smart grid and accounted for around 60% of the total market share. Much of the region’s growth can be attributed to the increasing use of smart grids and the increasing need for energy storage for distributed systems. The governmental support across different countries in the region and the growing investments in the development and deployment of integrated smart grid systems is expected to drive the demand for smart energy in the region in the coming years.

The Global Battery Energy Storage Market Size was estimated at USD 1109.80 million in 2022 and is projected to reach USD 8169.70 million by 2029, exhibiting a CAGR of 33.00% during the forecast period.

Bosson Research’s latest report provides a deep insight into the global Battery Energy Storage market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc.

The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Battery Energy Storage Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.

In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Battery Energy Storage market in any manner.

Global Battery Energy Storage Market: Market Segmentation Analysis

The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.

Key Company

Siemens

ABB

Samsung SDI

Bosch

BYD

Market Segmentation (by Type)

Li-Ion Batteries

Lead-Acid Batteries

Sodium Sulfur Batteries

Market Segmentation (by Application)

Home Use

Commercial

Geographic Segmentation

North America (USA, Canada, Mexico)

Europe (Germany, UK, France, Russia, Italy, Rest of Europe)

Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)

South America (Brazil, Argentina, Columbia, Rest of South America)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Key Benefits of This Market Research:

Industry drivers, restraints, and opportunities covered in the study

Neutral perspective on the market performance

Recent industry trends and developments

Competitive landscape & strategies of key players

Potential & niche segments and regions exhibiting promising growth covered

Historical, current, and projected market size, in terms of value

In-depth analysis of the Battery Energy Storage Market

Overview of the regional outlook of the Battery Energy Storage Market:

Key Reasons to Buy this Report:

Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change

This enables you to anticipate market changes to remain ahead of your competitors


1 Research Methodology and Statistical Scope
1.1 Market Definition and Statistical Scope of Battery Energy Storage
1.2 Key Market Segments
1.2.1 Battery Energy Storage Segment by Type
1.2.2 Battery Energy Storage Segment by Application
1.3 Methodology & Sources of Information
1.3.1 Research Methodology
1.3.2 Research Process
1.3.3 Market Breakdown and Data Triangulation
1.3.4 Base Year
1.3.5 Report Assumptions & Caveats
2 Battery Energy Storage Market Overview
2.1 Global Market Overview
2.1.1 Global Battery Energy Storage Market Size (M USD) Estimates and Forecasts (2018-2029)
2.1.2 Global Battery Energy Storage Sales Estimates and Forecasts (2018-2029)
2.2 Market Segment Executive Summary
2.3 Global Market Size by Region
3 Battery Energy Storage Market Competitive Landscape
3.1 Global Battery Energy Storage Sales by Manufacturers (2018-2023)
3.2 Global Battery Energy Storage Revenue Market Share by Manufacturers (2018-2023)
3.3 Battery Energy Storage Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
3.4 Global Battery Energy Storage Average Price by Manufacturers (2018-2023)
3.5 Manufacturers Battery Energy Storage Sales Sites, Area Served, Product Type
3.6 Battery Energy Storage Market Competitive Situation and Trends
3.6.1 Battery Energy Storage Market Concentration Rate
3.6.2 Global 5 and 10 Largest Battery Energy Storage Players Market Share by Revenue
3.6.3 Mergers & Acquisitions, Expansion
4 Battery Energy Storage Industry Chain Analysis
4.1 Battery Energy Storage Industry Chain Analysis
4.2 Market Overview of Key Raw Materials
4.3 Midstream Market Analysis
4.4 Downstream Customer Analysis
5 The Development and Dynamics of Battery Energy Storage Market
5.1 Key Development Trends
5.2 Driving Factors
5.3 Market Challenges
5.4 Market Restraints
5.5 Industry News
5.5.1 New Product Developments
5.5.2 Mergers & Acquisitions
5.5.3 Expansions
5.5.4 Collaboration/Supply Contracts
5.6 Industry Policies
6 Battery Energy Storage Market Segmentation by Type
6.1 Evaluation Matrix of Segment Market Development Potential (Type)
6.2 Global Battery Energy Storage Sales Market Share by Type (2018-2023)
6.3 Global Battery Energy Storage Market Size Market Share by Type (2018-2023)
6.4 Global Battery Energy Storage Price by Type (2018-2023)
7 Battery Energy Storage Market Segmentation by Application
7.1 Evaluation Matrix of Segment Market Development Potential (Application)
7.2 Global Battery Energy Storage Market Sales by Application (2018-2023)
7.3 Global Battery Energy Storage Market Size (M USD) by Application (2018-2023)
7.4 Global Battery Energy Storage Sales Growth Rate by Application (2018-2023)
8 Battery Energy Storage Market Segmentation by Region
8.1 Global Battery Energy Storage Sales by Region
8.1.1 Global Battery Energy Storage Sales by Region
8.1.2 Global Battery Energy Storage Sales Market Share by Region
8.2 North America
8.2.1 North America Battery Energy Storage Sales by Country
8.2.2 U.S.
8.2.3 Canada
8.2.4 Mexico
8.3 Europe
8.3.1 Europe Battery Energy Storage Sales by Country
8.3.2 Germany
8.3.3 France
8.3.4 U.K.
8.3.5 Italy
8.3.6 Russia
8.4 Asia Pacific
8.4.1 Asia Pacific Battery Energy Storage Sales by Region
8.4.2 China
8.4.3 Japan
8.4.4 South Korea
8.4.5 India
8.4.6 Southeast Asia
8.5 South America
8.5.1 South America Battery Energy Storage Sales by Country
8.5.2 Brazil
8.5.3 Argentina
8.5.4 Columbia
8.6 Middle East and Africa
8.6.1 Middle East and Africa Battery Energy Storage Sales by Region
8.6.2 Saudi Arabia
8.6.3 UAE
8.6.4 Egypt
8.6.5 Nigeria
8.6.6 South Africa
9 Key Companies Profile
9.1 Siemens
9.1.1 Siemens Battery Energy Storage Basic Information
9.1.2 Siemens Battery Energy Storage Product Overview
9.1.3 Siemens Battery Energy Storage Product Market Performance
9.1.4 Siemens Business Overview
9.1.5 Siemens Battery Energy Storage SWOT Analysis
9.1.6 Siemens Recent Developments
9.2 ABB
9.2.1 ABB Battery Energy Storage Basic Information
9.2.2 ABB Battery Energy Storage Product Overview
9.2.3 ABB Battery Energy Storage Product Market Performance
9.2.4 ABB Business Overview
9.2.5 ABB Battery Energy Storage SWOT Analysis
9.2.6 ABB Recent Developments
9.3 Samsung SDI
9.3.1 Samsung SDI Battery Energy Storage Basic Information
9.3.2 Samsung SDI Battery Energy Storage Product Overview
9.3.3 Samsung SDI Battery Energy Storage Product Market Performance
9.3.4 Samsung SDI Business Overview
9.3.5 Samsung SDI Battery Energy Storage SWOT Analysis
9.3.6 Samsung SDI Recent Developments
9.4 Bosch
9.4.1 Bosch Battery Energy Storage Basic Information
9.4.2 Bosch Battery Energy Storage Product Overview
9.4.3 Bosch Battery Energy Storage Product Market Performance
9.4.4 Bosch Business Overview
9.4.5 Bosch Battery Energy Storage SWOT Analysis
9.4.6 Bosch Recent Developments
9.5 BYD
9.5.1 BYD Battery Energy Storage Basic Information
9.5.2 BYD Battery Energy Storage Product Overview
9.5.3 BYD Battery Energy Storage Product Market Performance
9.5.4 BYD Business Overview
9.5.5 BYD Battery Energy Storage SWOT Analysis
9.5.6 BYD Recent Developments
10 Battery Energy Storage Market Forecast by Region
10.1 Global Battery Energy Storage Market Size Forecast
10.2 Global Battery Energy Storage Market Forecast by Region
10.2.1 North America Market Size Forecast by Country
10.2.2 Europe Battery Energy Storage Market Size Forecast by Country
10.2.3 Asia Pacific Battery Energy Storage Market Size Forecast by Region
10.2.4 South America Battery Energy Storage Market Size Forecast by Country
10.2.5 Middle East and Africa Forecasted Consumption of Battery Energy Storage by Country
11 Forecast Market by Type and by Application (2024-2029)
11.1 Global Battery Energy Storage Market Forecast by Type (2024-2029)
11.1.1 Global Forecasted Sales of Battery Energy Storage by Type (2024-2029)
11.1.2 Global Battery Energy Storage Market Size Forecast by Type (2024-2029)
11.1.3 Global Forecasted Price of Battery Energy Storage by Type (2024-2029)
11.2 Global Battery Energy Storage Market Forecast by Application (2024-2029)
11.2.1 Global Battery Energy Storage Sales (K Units) Forecast by Application
11.2.2 Global Battery Energy Storage Market Size (M USD) Forecast by Application (2024-2029)
12 Conclusion and Key Findings

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