Mobile Energy Storage System Market
Growth Factors of Mobile Energy Storage System Market
The mobile energy storage system market size was valued at USD 44.86 billion in 2023, and the market is now projected to grow from USD 51.12 billion in 2024 to USD 156.16 billion by 2032, exhibiting a CAGR of 14.98% during the forecast period of 2024-2032.
The mobile energy storage system market has greatly been impacted by the COVID 19 as it impacted various areas such as electric vehicles, power generation, and manufacturing markets. It affected their production as well as demand by shutdown of the manufacturing factories, disruption of the supply chain and reduced consumers’ purchasing power. Several factors that impacted the demand of devices that use advance batteries include; Economic difficulties and layoffs reduced the demand for advanced battery uses of cell phones and tablets.
The push for carbon neutrality has created the market for renewable energy hence the need for energy storage devices to Magazine news contain energy storage systems to store and redistribute the excess energy. Utilities companies are installing renewable power solutions to their existing diesel generation systems to improve the system integrity and in effect de-carbonization. This has culminated into the use of mobile energy storage systems to allow for mobility especially for moving from one site to another.
MESS is used as resilience infrastructure to feed local power grids in case of local natural disasters and has extra value in normal situations. With the advancement of technology in the V2G technology, electric vehicle charging infrastructure may become critical facilities of the energy systems. V2G also means that electric vehicles can provide power to the grid which helps in stabilizing the grid. In its proper application, V2G technology has a negligible impact on the service life of electric vehicles.
Comprehensive Analysis of Mobile Energy Storage System Market
The mobile energy storage system market growth is rising at an exponential rate due to its market segmentation. This market expansion correctly offers a detailed nearby assessment considering the dominant supply and demand forces that impact the industry. These segmentations are methodically segregated by type analysis, by application analysis. By type analysis include self-driving (electric vehicles), containerized solutions, and trailer mounted solutions. By application analysis construction, data centers, healthcare, transportation, etc.
The Asia Pacific region lead the mobile energy storage system market share by benefitting a market size of USD 25.74 billion in 2023 due to increasing industrialization.
The top players in the markets have a central responsibility in the power & energy industry to be sure of industrial prospectus development and to establish the market norms. These players include, Greener, RES, LG Energy Solution, Panasonic, Green NRG Co, Amperex Technology Limited, CALB, GE Renewable Energy, Aquion Energy, Saft these market players provide a level-playing competitive landscape.
In August 2023, RES announced the acquisition of Ingeteam’s Renewable Service division, positioning itself as the largest renewable energy support services provider globally with USD 38.28 billion in assets under management.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 14.98% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Type
- Self-mobile (Electric Vehicles)
- Containerized Solutions
- Upto 100 KW
- 101 to 500 KW
- Above 500 KW
- Trailers Mounted Solutions
- Upto 100 KW
- 101 to 500 KW
- Above 500 KW
By Application
- Construction
- Data Centers
- Healthcare
- Transportation
- Others
By Region
- North America (By Type, By Application, and By Country)
- U.S. (By Application)
- Canada (By Application)
- Europe (By Type, By Application, and By Country)
- Germany (By Application)
- UK (By Application)
- France (By Application)
- Italy (By Application)
- Spain (By Application)
- Rest of Europe (By Application)
- Asia Pacific (By Type, By Application, and By Country)
- China (By Application)
- Japan (By Application)
- South Korea (By Application)
- Australia (By Application)
- Rest of Asia Pacific (By Application)
- Rest of the World (By Type and By Application)
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