The 2023-2028 World Outlook for Battery Energy Storage Systems

The 2023-2028 World Outlook for Battery Energy Storage Systems

This study covers the world outlook for battery energy storage systems across more than 190 countries. For each year reported, estimates are given for the latent demand, or potential industry earnings (P.I.E.), for the country in question (in millions of U.S. dollars), the percent share the country is of the region, and of the globe. These comparative benchmarks allow the reader to quickly gauge a country vis-à-vis others. Using econometric models which project fundamental economic dynamics within each country and across countries, latent demand estimates are created. This report does not discuss the specific players in the market serving the latent demand, nor specific details at the product level. The study also does not consider short-term cyclicalities that might affect realized sales. The study, therefore, is strategic in nature, taking an aggregate and long-run view, irrespective of the players or products involved.

In this report we define the sales of battery energy storage systems as including all commonly understood products falling within this broad category, such as software that integrates elements of audio, video, and interactivity into a learning experience, irrespective of product packaging, formulation, size, or form. Companies participating in this industry include ABB, AEG Power Solutions, AES Energy Storage, Alevo Group, Autobat SACI, Beacon Power, BYD Company, Convergent Energy and Power, Corvus Energy, East Penn Manufacturing, Eguana Technologies, Enerbrax Acumuladores, Ltd.a, EnerDel, Eos Energy Storage ,Seeo, Inc., Exergonix, EXIDE Industries, GE Power, Greensmith Energy Management Systems, Hitachi, Imergy Power Systems, Ionotec, Ltd., LG Chem, MITSUBISHI Heavy Industries, NEC, NGK Insulators, Panasonic, S&C Electric Company, Samsung, Siemens AG, SK Holdings., SMA Solar Technology, Tata Power Company, Tesla, The AES, Toshiba Infrastructure Systems & Solutions, and TrinaBESS. In addition to the sources indicated, additional information available to the public via news and/or press releases published by players in the industry was considered in defining and calibrating this category. All figures are in a common currency (U.S. dollars, millions) and are not adjusted for inflation (i.e., they are current values). Exchange rates used to convert to U.S. dollars are averages for the year in question. Future exchange rates are assumed to be constant in the future at the current level (the average of the year of this publication's release in 2022).