Global Battery Energy Storage System Market Size, Share & Industry Trends Analysis Report By Ownership, By Battery Type, By Energy Capacity, By Connection, By Application, By Regional Outlook and Forecast, 2021 - 2027

Global Battery Energy Storage System Market Size, Share & Industry Trends Analysis Report By Ownership, By Battery Type, By Energy Capacity, By Connection, By Application, By Regional Outlook and Forecast, 2021 - 2027

The Global Battery Energy Storage System Market size is expected to reach $14.5 billion by 2027, rising at a market growth of 25.2% CAGR during the forecast period.

Energy is a fundamental requirement for conducting daily living activities in a variety of verticals, including residential, commercial, industrial, and many others. Various organizations and countries are always attempting to introduce innovative technologies in order to meet the fast-expanding electricity demands in various sectors. In addition, ever-increasing harmful greenhouse gas (GHG) emissions have prompted governments to implement low-carbon power generation technologies. As a result, one of the most rapidly emerging technologies is battery energy storage systems (BESS), which use various battery chemistries to store energy in order to meet the increased demand.

For their on- and off-grid flexibility, battery energy storage devices are used in a variety of power applications. Frequency control, peak shaving, voltage control in renewable integration, and energy shifting are some of the prominent areas driving product development in the battery energy storage systems industry. Additionally, a prominent trend driving market expansion is the increased usage of battery energy storage solutions in making on- and off-grid transitions in the renewable sector. Moreover, several business leaders have increased their focus in recent years on lowering non-renewable energy use and speeding up the global adoption of renewable energy.

These systems have grown their interests in solar energy startups that are on the cutting edge of technology. As a result, there has been a strong drive to incorporate solar energy into the total energy mix. Hence, given the cyclical nature of wind and solar energy, battery energy storage technologies are likely to play a revolutionary role. Wind and solar energy production have increased around the world to satisfy the demands of green energy. Additionally, with the increased usage of wind and solar energy for business and residential purposes, huge battery energy storage systems have become more popular.

COVID-19 Impact

COVID-19 has had a huge impact on the global economy as well as all industries. Lockdowns have been established by governments around the world to curb the spread of the pandemic. In addition, people's livelihoods and quality of life were badly disrupted by the complete global lockdown in the early stages of the pandemic in several countries. As a result, there have been supply chain disruptions all across the world. A dramatic reduction in product demand has harmed the economies of the world. Due to the pandemic, which resulted in a shortage of raw materials, production across industries has been hampered. A drop in exports and supply chain disruptions are two main factors contributing to the output fall.

Market Growth Factors

Large-scale grid modernization and growing rural electrification projects around the globe

The most common renewable energy kinds that are stored in grids are solar and wind energy. However, when the sun is obscured by clouds or by changing wind currents, the energy generation process is disrupted. Such fluctuations necessitate the use of flexible grid energy storage systems. Grid modernization is increasingly using battery energy storage technology. When the amount of electricity generated exceeds the amount of electricity required, these solutions assist grid operators in saving electricity. In addition, the implementation of these technologies increases the electrical supply systems' reliability and flexibility in terms of electric power generation, transmission, and distribution.

The advent of innovative solutions and constant expansion in grid infrastructure

Various industry players are constantly attempting to launch fresh organic and inorganic expansion plans in order to improve their product acceptability around the world. Moreover, to preserve their position in the sector, several firms are introducing new and sophisticated battery energy storage systems units. For example, Tesvolt, a German storage system manufacturer, introduced the TS-I HV 80 battery in March 2021, which was designed to reduce load peaks and meet the expectations of commercial and industrial customers. Some of the key trends of the market are rapidly rising energy consumption in both emerging and developed countries, as well as increased steps to assure energy security.

Market Restraining Factors

Installation of battery energy storage devices necessitates a significant capital outlay

Because of the high energy density and higher performance given by battery energy storage technologies like lithium-ion batteries, flow batteries, and lead-acid batteries, increased installation investments are required. In addition, Lithium-ion batteries are more expensive than other types of batteries because they have a higher energy density, a lower rate of self-discharge, and need less maintenance. Lithium-ion batteries, on the other hand, are likely to become less expensive in the future. Because they are lightweight and compact, as well as having a huge capacity, these batteries are also employed in electric vehicles (EVs). Aside from that, the high initial investment cost necessary to manufacture flow batteries could be a major barrier for the market.

Ownership Outlook

Based on Ownership, the market is segmented into Utility-Owned, Third-Party Owned, and Customer-Owned. The Customer-Owned segment obtained a promising revenue share of the Battery Energy Storage System Market in 2020. This is due to the increased desire among customers to incorporate new renewable systems to improve their grid independence and support peak energy demands. In addition, many companies are providing affordable systems to attract customers.

Battery Type Outlook

Based on Battery Type, the market is segmented into Lithium-Ion Batteries, Advanced Lead-Acid Batteries, Flow Batteries, and Others. In 2020, the lithium-ion battery segment garnered the maximum revenue share of the Battery Energy Storage System Market. This is due to the advantages of the battery like high energy and power density, which leads to reduced standby losses and a long-life expectancy of roughly 5–15 years with 98 percent efficiency. In addition, the lithium-ion battery is also appropriate for on-grid connections and provides frequency management, demand charge reduction, grid-buffering, and renewable integration.

Energy Capacity Outlook

Based on Energy Capacity, the market is segmented into Above 500 MWh, Between 100 to 500 MWh, and Below 100 MWh. In 2020, the Above 500 MWh segment captured the biggest revenue share of the Battery Energy Storage System Market. This is because of the rising number of governments initiatives to set up large capacities of energy storage systems. For example, NTPC Renewable Energy Limited has issued a request for proposals to construct interstate transmission system (ISTS) connected energy storage solutions with a total capacity of 500 MW and 3,000 MWh anywhere in India. Moreover, the renewable energy produced by NTPC REL from any of its projects would be used to charge the energy storage system. NTPC REL would use the energy storage facility to fulfill its round-the-clock renewable power needs during peak and off-peak hours on an on-demand basis.

Connection type Outlook

Based on Connection type, the market is segmented into On-grid, and Off-grid. The Off-grid segment collected a significant revenue share of the Battery Energy Storage System Market in 2020. This is because Off-grid applications are well-suited to battery energy storage. In such circumstances, the possibilities are essentially endless including isolated mines, communication/industrial locations, or residential regions. Moreover, Off-grid renewable energy storage is mainly utilized for lighting and charging solutions, solar power-based home systems in rural areas, or roof-top solar applications in urban areas.

Application Outlook

Based on Application, the market is segmented into Utility, Commercial, and Residential. In 2020, the Utility segment procured the maximum revenue share of the Battery Energy Storage System Market. The rising demand for battery energy storage systems in the utility sector is due to the growing demand for a dependable and efficient supply of electricity in most locations, as well as the expanding requirement for renewable energy. The requirement to fulfill peak electricity demands is a major driver of the utility sector's expansion. In the event of an unexpected fluctuation in the energy supply, the utility BESS offers power quality, frequency, and voltage control services. When there is an excess of renewable energy, grid operators can save electricity by using battery energy storage systems. Because of the technical advantages and declining costs of energy storage systems, demand for energy storage systems in the utility sector is likely to grow in the future.

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2020, the APAC emerged as the leading region in the overall Battery Energy Storage System Market by acquiring the largest revenue share. This is because of the electrification plans for distant areas, which are primarily off-grid in various countries. Increased access to electricity for these isolated and island settlements in the region will be possible due to the deployment of domestic energy storage technology. As governments in developing economies implement new rules to enhance the reliability and quality of power distribution facilities to residential users, energy storage investments are likely to skyrocket in the APAC region. The governments of several countries in this region are concentrating their efforts on reducing the negative environmental effects of the energy sector.

The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Siemens AG, Honeywell International, Inc., Hitachi, Ltd., and General Electric (GE) Co. are the forerunners in the Battery Energy Storage System Market. Companies such as Panasonic Corporation, Toshiba Corporation, and Samsung SDI Co., Ltd are some of the key innovators in the Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Electric (GE) Co., Honeywell International, Inc., Panasonic Corporation, Hitachi, Ltd., Siemens AG, Johnson Controls International PLC, Toshiba Corporation, LG Energy Solutions Ltd., and Samsung SDI Co., Ltd.

Recent Strategies deployed in Battery Energy Storage System Market

Partnerships, Collaborations and Agreements

Jan-2022: Honeywell signed an agreement with FREYR Battery, a company that aims to offer industrial-scale clean battery solutions to cut down global emissions. Following this, the FREYR would harness Honeywell's prominent technology offerings, including integrated automation, field instrumentation, and security integration solutions in their manufacturing process. Under the agreement, the two companies would offer smart energy storage solutions to fulfill the requirement for various commercial and industrial customers alike.

Dec-2021: Siemens signed an agreement with LG Energy Solution, a leading global battery maker announced Tuesday. The partnership would explore the domain of battery manufacturing, especially the digitization of the production process. Under this agreement, LGES would be able to deploy smart battery manufacturing processes at its factories with next-generation techniques. The first line of collaboration between the two companies would take place at Ultium Cells in Tennessee, which is a joint venture between LG Energy Solution and General Motors.

Oct-2021: LG Energy Solution signed an agreement with Stellantis, a multinational automotive manufacturing corporation, to form a joint venture to develop battery cells and modules for North America. Moreover, the two companies would set up a new battery manufacturing facility that would assist help power Stellantis’ objective of realizing above 40% of its sales in the U.S. comprised of electrified vehicles.

Sep-2021: LG Energy Solution signed an agreement with RWE Renewables, one of the world's leading renewables companies. Under this agreement, the two entities would offer an integrated battery energy storage system (BESS) for two of RWE's upcoming projects with co-located solar PV facilities in the U.S. Following the agreement, RWE Renewables aimed to fulfill its two crucial solar plus storage projects as it continues to expand our renewable offerings, bring down costs and make clean energy more cost-effective in the U.S.

Jul-2021: Siemens signed an agreement with Zukunftsenergie Nordostbayern, a German grid network operator. Under this agreement, the two entities aimed to work towards the turnkey construction of a 100-megawatt battery storage unit in the German town. The plant, which has a storage capacity of 200-megawatt hours, would be used to use excess renewable energy to cover power grid demand peaks. The 5,000 square meter energy storage system can provide electricity to 20,000 typical families.

May-2021: Hitachi ABB Power Grids teamed up with Atlas Renewable Energy, an operating renewable energy company that develops, builds, and operates solar and wind projects. Following the partnership, the two companies would together design and commercialize Battery Energy Storage Systems (BESS) for Atlas’ renewable projects.

Nov-2020: Panasonic signed a preliminary agreement with Equinor and Hydro, both of them are prominent strong global players. Following this agreement, the two entities would develop a battery business in Northern Europe. Following the agreement, Panasonic’s expertise in lithium-ion batteries would be integrated with the deep industry experience of Equinor and Hydro, both strong global players, to potentially pave the way for a robust and sustainable battery business in Norway. This agreement would streamline the development of a reliable and sustainable battery business in Norway.

Acquisitions and Mergers

Dec-2021: Siemens took over KACO's new strength, a maker of electricity-related energy electronics. This acquisition would help Siemens profits would get entry into ultra-modern generation, simultaneously as KACO's new electricity would benefit from the resources needed to scale up.

Oct-2021: Samsung formed a joint venture with Stellantis, a multinational automotive manufacturing corporation. Through this joint venture, the two companies would develop battery cells and modules for North America. The battery plants would supply Stellantis assembly plants in the United States, Canada, and Mexico with batteries for use in advanced electric vehicles ranging from plug-in hybrids to full battery electric vehicles sold under the Stellantis name.

Sep-2021: LG Energy Solution took over NEC Energy Solutions, the NEC Corporation subsidiary focused on energy storage. This acquisition would help LG Energy Solution to become a prominent ESS solution provider, involved in services from battery installation to full system solutions. Following the acquisition, LG Energy Solution aimed to improve its presence in the North American ESS market.

Jul-2020: Hitachi Japan took over a majority stake in ABB Hitachi Power Grids. This acquisition would help Hitachi to become one of the biggest worldwide grid equipment and service providers, substantially increasing its access to the utility segment in all regions.

Product Launches and Product Expansions

Jan-2022: Toshiba Corporation introduced a unique 20Ah-HP rechargeable lithium-ion battery cell that provides high energy and high power, thereby expanding its SCiB product offering with the. The cell is suited for high-power applications and scenarios where battery cells must suppress heat and function constantly, such as quick charging of commercial vehicles, regenerative power systems for rolling stock, and industrial equipment. The cell is the same size as Toshiba's current 20Ah product, making it simple for current customers to upgrade to the enhanced input and output power while keeping the same module pack. The cell is currently available for purchase all around the world.

Nov-2021: Panasonic rolled out the EverVolt 2.0., the new development in its robust solar energy portfolio of Total Home Energy Solution offerings. The new EverVolt 2.0 has a continuous power output of 7.6 kW off-grid and 9.6 kW on-grid, which is enough to power a typical household load, and two energy storage capacities of 17.1 kWh and 25.65 kWh (usable capacity) per system. The system can work with both new and current solar energy systems because it may be AC and DC connected.

Oct-2021: Honeywell unveiled a new flow battery technology that works with renewable generation sources like wind and solar to fulfill the demand for sustainable energy storage. The novel flow battery employs a non-flammable, safe electrolyte to convert chemical energy to electricity and store it for later use, all while achieving utility goals for environmental, longevity, and safety. Honeywell's innovative technology gives utilities more flexibility and a longer lifespan. The battery stores energy that can be utilized when wind and solar are not available, during power outages, or when power grids are overburdened. It has the ability to store and discharge electricity for up to 12 hours, far longer than lithium-ion batteries, which can only discharge for 4 hours.

Sep-2021: LG Energy Solutions introduced modular all-in-one battery energy storage system (BESS) units for the utility-scale and commercial & industrial (C&I) markets. In addition, the new AiON Energy Storage System (AiON ESS) devices come in two variants. Both the Power and Energy Series systems can operate from 220 VDC to 1350 VDC, have thermal control and HVAC, and can be expanded with new enclosures that will be provided without string inverters.

Jun-2021: Honeywell introduced Battery Energy Storage System (BESS) Platform, which combines Honeywell asset monitoring, supervisory control, distributed energy resource management, and analytics functionality. Through this launch, the company aimed to allow companies to precisely forecast and enhance their overall energy usage. The platform is well-suited for multiple commercial and industrial companies, independent power producers, and utilities. The BESS Platform is powered by Honeywell performance-based guarantees, which include predictable and consistent costs along with improved uptime.

Feb-2021: Johnson Controls introduced a lithium-ion risk prevention system engineered to offer early-warning detection of battery failure in lithium-ion energy storage systems. Off-gas monitoring and early intervention are combined with classic fire detection and suppression technologies in this three-step risk prevention system.

Nov-2020: Toshiba rolled out a prototype for a new type of rechargeable lithium-ion battery that utilizes water as the aqueous electrolyte. In addition, this novel battery contains no volatile organic solvents, enabling it to operate at temperatures as low as -30°C and demonstrating a low danger of fire over lengthy periods of time. It also has a long charge and discharge cycle life of 2,000, allowing it to be used in a variety of large-capacity energy storage applications.

Scope of the Study

Market Segments covered in the Report:

By Ownership

  • Utility-Owned
  • Third-Party Owned
  • Customer-Owned
By Battery Type
  • Lithium-Ion Batteries
  • Advanced Lead-Acid Batteries
  • Flow Batteries
  • Others
By Energy Capacity
  • Above 500 MWh
  • Between 100 to 500 MWh
  • Below 100 MWh
By Connection type
  • On-grid
  • Off-grid
By Application
  • Utility
  • Commercial
  • Residential
By Geography
  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA
Companies Profiled
  • General Electric (GE) Co.
  • Honeywell International, Inc.
  • Panasonic Corporation
  • Hitachi, Ltd.
  • Siemens AG
  • Johnson Controls International PLC
  • Toshiba Corporation
  • LG Energy Solutions Ltd.
  • Samsung SDI Co., Ltd.
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Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Battery Energy Storage System Market, by Ownership
1.4.2 Global Battery Energy Storage System Market, by Battery Type
1.4.3 Global Battery Energy Storage System Market, by Energy Capacity
1.4.4 Global Battery Energy Storage System Market, by Connection type
1.4.5 Global Battery Energy Storage System Market, by Application
1.4.6 Global Battery Energy Storage System Market, by Geography
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Partnerships, Collaborations, and Agreements: 2019, Sep – 2022, Jan) Leading Players
Chapter 4. Global Battery Energy Storage System Market by Ownership
4.1 Global Utility-Owned Market by Region
4.2 Global Third-Party Owned Market by Region
4.3 Global Customer-Owned Market by Region
Chapter 5. Global Battery Energy Storage System Market by Battery Type
5.1 Global Lithium-Ion Batteries Market by Region
5.2 Global Advanced Lead-Acid Batteries Market by Region
5.3 Global Flow Batteries Market by Region
5.4 Global Others Market by Region
Chapter 6. Global Battery Energy Storage System Market by Energy Capacity
6.1 Global Above 500 MWh Market by Region
6.2 Global Between 100 to 500 MWh Market by Region
6.3 Global Below 100 MWh Market by Region
Chapter 7. Global Battery Energy Storage System Market by Connection Type
7.1 Global On-grid Market by Region
7.2 Global Off-grid Market by Region
Chapter 8. Global Battery Energy Storage System Market by Application
8.1 Global Utility Market by Region
8.2 Global Commercial Market by Region
8.3 Global Residential Market by Region
Chapter 9. Global Battery Energy Storage System Market by Region
9.1 North America Battery Energy Storage System Market
9.1.1 North America Battery Energy Storage System Market by Ownership
9.1.1.1 North America Utility-Owned Market by Country
9.1.1.2 North America Third-Party Owned Market by Country
9.1.1.3 North America Customer-Owned Market by Country
9.1.2 North America Battery Energy Storage System Market by Battery Type
9.1.2.1 North America Lithium-Ion Batteries Market by Country
9.1.2.2 North America Advanced Lead-Acid Batteries Market by Country
9.1.2.3 North America Flow Batteries Market by Country
9.1.2.4 North America Others Market by Country
9.1.3 North America Battery Energy Storage System Market by Energy Capacity
9.1.3.1 North America Above 500 MWh Market by Country
9.1.3.2 North America Between 100 to 500 MWh Market by Country
9.1.3.3 North America Below 100 MWh Market by Country
9.1.4 North America Battery Energy Storage System Market by Connection Type
9.1.4.1 North America On-grid Market by Country
9.1.4.2 North America Off-grid Market by Country
9.1.5 North America Battery Energy Storage System Market by Application
9.1.5.1 North America Utility Market by Country
9.1.5.2 North America Commercial Market by Country
9.1.5.3 North America Residential Market by Country
9.1.6 North America Battery Energy Storage System Market by Country
9.1.6.1 US Battery Energy Storage System Market
9.1.6.1.1 US Battery Energy Storage System Market by Ownership
9.1.6.1.2 US Battery Energy Storage System Market by Battery Type
9.1.6.1.3 US Battery Energy Storage System Market by Energy Capacity
9.1.6.1.4 US Battery Energy Storage System Market by Connection Type
9.1.6.1.5 US Battery Energy Storage System Market by Application
9.1.6.2 Canada Battery Energy Storage System Market
9.1.6.2.1 Canada Battery Energy Storage System Market by Ownership
9.1.6.2.2 Canada Battery Energy Storage System Market by Battery Type
9.1.6.2.3 Canada Battery Energy Storage System Market by Energy Capacity
9.1.6.2.4 Canada Battery Energy Storage System Market by Connection Type
9.1.6.2.5 Canada Battery Energy Storage System Market by Application
9.1.6.3 Mexico Battery Energy Storage System Market
9.1.6.3.1 Mexico Battery Energy Storage System Market by Ownership
9.1.6.3.2 Mexico Battery Energy Storage System Market by Battery Type
9.1.6.3.3 Mexico Battery Energy Storage System Market by Energy Capacity
9.1.6.3.4 Mexico Battery Energy Storage System Market by Connection Type
9.1.6.3.5 Mexico Battery Energy Storage System Market by Application
9.1.6.4 Rest of North America Battery Energy Storage System Market
9.1.6.4.1 Rest of North America Battery Energy Storage System Market by Ownership
9.1.6.4.2 Rest of North America Battery Energy Storage System Market by Battery Type
9.1.6.4.3 Rest of North America Battery Energy Storage System Market by Energy Capacity
9.1.6.4.4 Rest of North America Battery Energy Storage System Market by Connection Type
9.1.6.4.5 Rest of North America Battery Energy Storage System Market by Application
9.2 Europe Battery Energy Storage System Market
9.2.1 Europe Battery Energy Storage System Market by Ownership
9.2.1.1 Europe Utility-Owned Market by Country
9.2.1.2 Europe Third-Party Owned Market by Country
9.2.1.3 Europe Customer-Owned Market by Country
9.2.2 Europe Battery Energy Storage System Market by Battery Type
9.2.2.1 Europe Lithium-Ion Batteries Market by Country
9.2.2.2 Europe Advanced Lead-Acid Batteries Market by Country
9.2.2.3 Europe Flow Batteries Market by Country
9.2.2.4 Europe Others Market by Country
9.2.3 Europe Battery Energy Storage System Market by Energy Capacity
9.2.3.1 Europe Above 500 MWh Market by Country
9.2.3.2 Europe Between 100 to 500 MWh Market by Country
9.2.3.3 Europe Below 100 MWh Market by Country
9.2.4 Europe Battery Energy Storage System Market by Connection Type
9.2.4.1 Europe On-grid Market by Country
9.2.4.2 Europe Off-grid Market by Country
9.2.5 Europe Battery Energy Storage System Market by Application
9.2.5.1 Europe Utility Market by Country
9.2.5.2 Europe Commercial Market by Country
9.2.5.3 Europe Residential Market by Country
9.2.6 Europe Battery Energy Storage System Market by Country
9.2.6.1 Germany Battery Energy Storage System Market
9.2.6.1.1 Germany Battery Energy Storage System Market by Ownership
9.2.6.1.2 Germany Battery Energy Storage System Market by Battery Type
9.2.6.1.3 Germany Battery Energy Storage System Market by Energy Capacity
9.2.6.1.4 Germany Battery Energy Storage System Market by Connection Type
9.2.6.1.5 Germany Battery Energy Storage System Market by Application
9.2.6.2 UK Battery Energy Storage System Market
9.2.6.2.1 UK Battery Energy Storage System Market by Ownership
9.2.6.2.2 UK Battery Energy Storage System Market by Battery Type
9.2.6.2.3 UK Battery Energy Storage System Market by Energy Capacity
9.2.6.2.4 UK Battery Energy Storage System Market by Connection Type
9.2.6.2.5 UK Battery Energy Storage System Market by Application
9.2.6.3 France Battery Energy Storage System Market
9.2.6.3.1 France Battery Energy Storage System Market by Ownership
9.2.6.3.2 France Battery Energy Storage System Market by Battery Type
9.2.6.3.3 France Battery Energy Storage System Market by Energy Capacity
9.2.6.3.4 France Battery Energy Storage System Market by Connection Type
9.2.6.3.5 France Battery Energy Storage System Market by Application
9.2.6.4 Russia Battery Energy Storage System Market
9.2.6.4.1 Russia Battery Energy Storage System Market by Ownership
9.2.6.4.2 Russia Battery Energy Storage System Market by Battery Type
9.2.6.4.3 Russia Battery Energy Storage System Market by Energy Capacity
9.2.6.4.4 Russia Battery Energy Storage System Market by Connection Type
9.2.6.4.5 Russia Battery Energy Storage System Market by Application
9.2.6.5 Spain Battery Energy Storage System Market
9.2.6.5.1 Spain Battery Energy Storage System Market by Ownership
9.2.6.5.2 Spain Battery Energy Storage System Market by Battery Type
9.2.6.5.3 Spain Battery Energy Storage System Market by Energy Capacity
9.2.6.5.4 Spain Battery Energy Storage System Market by Connection Type
9.2.6.5.5 Spain Battery Energy Storage System Market by Application
9.2.6.6 Italy Battery Energy Storage System Market
9.2.6.6.1 Italy Battery Energy Storage System Market by Ownership
9.2.6.6.2 Italy Battery Energy Storage System Market by Battery Type
9.2.6.6.3 Italy Battery Energy Storage System Market by Energy Capacity
9.2.6.6.4 Italy Battery Energy Storage System Market by Connection Type
9.2.6.6.5 Italy Battery Energy Storage System Market by Application
9.2.6.7 Rest of Europe Battery Energy Storage System Market
9.2.6.7.1 Rest of Europe Battery Energy Storage System Market by Ownership
9.2.6.7.2 Rest of Europe Battery Energy Storage System Market by Battery Type
9.2.6.7.3 Rest of Europe Battery Energy Storage System Market by Energy Capacity
9.2.6.7.4 Rest of Europe Battery Energy Storage System Market by Connection Type
9.2.6.7.5 Rest of Europe Battery Energy Storage System Market by Application
9.3 Asia Pacific Battery Energy Storage System Market
9.3.1 Asia Pacific Battery Energy Storage System Market by Ownership
9.3.1.1 Asia Pacific Utility-Owned Market by Country
9.3.1.2 Asia Pacific Third-Party Owned Market by Country
9.3.1.3 Asia Pacific Customer-Owned Market by Country
9.3.2 Asia Pacific Battery Energy Storage System Market by Battery Type
9.3.2.1 Asia Pacific Lithium-Ion Batteries Market by Country
9.3.2.2 Asia Pacific Advanced Lead-Acid Batteries Market by Country
9.3.2.3 Asia Pacific Flow Batteries Market by Country
9.3.2.4 Asia Pacific Others Market by Country
9.3.3 Asia Pacific Battery Energy Storage System Market by Energy Capacity
9.3.3.1 Asia Pacific Above 500 MWh Market by Country
9.3.3.2 Asia Pacific Between 100 to 500 MWh Market by Country
9.3.3.3 Asia Pacific Below 100 MWh Market by Country
9.3.4 Asia Pacific Battery Energy Storage System Market by Connection Type
9.3.4.1 Asia Pacific On-grid Market by Country
9.3.4.2 Asia Pacific Off-grid Market by Country
9.3.5 Asia Pacific Battery Energy Storage System Market by Application
9.3.5.1 Asia Pacific Utility Market by Country
9.3.5.2 Asia Pacific Commercial Market by Country
9.3.5.3 Asia Pacific Residential Market by Country
9.3.6 Asia Pacific Battery Energy Storage System Market by Country
9.3.6.1 China Battery Energy Storage System Market
9.3.6.1.1 China Battery Energy Storage System Market by Ownership
9.3.6.1.2 China Battery Energy Storage System Market by Battery Type
9.3.6.1.3 China Battery Energy Storage System Market by Energy Capacity
9.3.6.1.4 China Battery Energy Storage System Market by Connection Type
9.3.6.1.5 China Battery Energy Storage System Market by Application
9.3.6.2 Japan Battery Energy Storage System Market
9.3.6.2.1 Japan Battery Energy Storage System Market by Ownership
9.3.6.2.2 Japan Battery Energy Storage System Market by Battery Type
9.3.6.2.3 Japan Battery Energy Storage System Market by Energy Capacity
9.3.6.2.4 Japan Battery Energy Storage System Market by Connection Type
9.3.6.2.5 Japan Battery Energy Storage System Market by Application
9.3.6.3 India Battery Energy Storage System Market
9.3.6.3.1 India Battery Energy Storage System Market by Ownership
9.3.6.3.2 India Battery Energy Storage System Market by Battery Type
9.3.6.3.3 India Battery Energy Storage System Market by Energy Capacity
9.3.6.3.4 India Battery Energy Storage System Market by Connection Type
9.3.6.3.5 India Battery Energy Storage System Market by Application
9.3.6.4 South Korea Battery Energy Storage System Market
9.3.6.4.1 South Korea Battery Energy Storage System Market by Ownership
9.3.6.4.2 South Korea Battery Energy Storage System Market by Battery Type
9.3.6.4.3 South Korea Battery Energy Storage System Market by Energy Capacity
9.3.6.4.4 South Korea Battery Energy Storage System Market by Connection Type
9.3.6.4.5 South Korea Battery Energy Storage System Market by Application
9.3.6.5 Singapore Battery Energy Storage System Market
9.3.6.5.1 Singapore Battery Energy Storage System Market by Ownership
9.3.6.5.2 Singapore Battery Energy Storage System Market by Battery Type
9.3.6.5.3 Singapore Battery Energy Storage System Market by Energy Capacity
9.3.6.5.4 Singapore Battery Energy Storage System Market by Connection Type
9.3.6.5.5 Singapore Battery Energy Storage System Market by Application
9.3.6.6 Malaysia Battery Energy Storage System Market
9.3.6.6.1 Malaysia Battery Energy Storage System Market by Ownership
9.3.6.6.2 Malaysia Battery Energy Storage System Market by Battery Type
9.3.6.6.3 Malaysia Battery Energy Storage System Market by Energy Capacity
9.3.6.6.4 Malaysia Battery Energy Storage System Market by Connection Type
9.3.6.6.5 Malaysia Battery Energy Storage System Market by Application
9.3.6.7 Rest of Asia Pacific Battery Energy Storage System Market
9.3.6.7.1 Rest of Asia Pacific Battery Energy Storage System Market by Ownership
9.3.6.7.2 Rest of Asia Pacific Battery Energy Storage System Market by Battery Type
9.3.6.7.3 Rest of Asia Pacific Battery Energy Storage System Market by Energy Capacity
9.3.6.7.4 Rest of Asia Pacific Battery Energy Storage System Market by Connection Type
9.3.6.7.5 Rest of Asia Pacific Battery Energy Storage System Market by Application
9.4 LAMEA Battery Energy Storage System Market
9.4.1 LAMEA Battery Energy Storage System Market by Ownership
9.4.1.1 LAMEA Utility-Owned Market by Country
9.4.1.2 LAMEA Third-Party Owned Market by Country
9.4.1.3 LAMEA Customer-Owned Market by Country
9.4.2 LAMEA Battery Energy Storage System Market by Battery Type
9.4.2.1 LAMEA Lithium-Ion Batteries Market by Country
9.4.2.2 LAMEA Advanced Lead-Acid Batteries Market by Country
9.4.2.3 LAMEA Flow Batteries Market by Country
9.4.2.4 LAMEA Others Market by Country
9.4.3 LAMEA Battery Energy Storage System Market by Energy Capacity
9.4.3.1 LAMEA Above 500 MWh Market by Country
9.4.3.2 LAMEA Between 100 to 500 MWh Market by Country
9.4.3.3 LAMEA Below 100 MWh Market by Country
9.4.4 LAMEA Battery Energy Storage System Market by Connection Type
9.4.4.1 LAMEA On-grid Market by Country
9.4.4.2 LAMEA Off-grid Market by Country
9.4.5 LAMEA Battery Energy Storage System Market by Application
9.4.5.1 LAMEA Utility Market by Country
9.4.5.2 LAMEA Commercial Market by Country
9.4.5.3 LAMEA Residential Market by Country
9.4.6 LAMEA Battery Energy Storage System Market by Country
9.4.6.1 Brazil Battery Energy Storage System Market
9.4.6.1.1 Brazil Battery Energy Storage System Market by Ownership
9.4.6.1.2 Brazil Battery Energy Storage System Market by Battery Type
9.4.6.1.3 Brazil Battery Energy Storage System Market by Energy Capacity
9.4.6.1.4 Brazil Battery Energy Storage System Market by Connection Type
9.4.6.1.5 Brazil Battery Energy Storage System Market by Application
9.4.6.2 Argentina Battery Energy Storage System Market
9.4.6.2.1 Argentina Battery Energy Storage System Market by Ownership
9.4.6.2.2 Argentina Battery Energy Storage System Market by Battery Type
9.4.6.2.3 Argentina Battery Energy Storage System Market by Energy Capacity
9.4.6.2.4 Argentina Battery Energy Storage System Market by Connection Type
9.4.6.2.5 Argentina Battery Energy Storage System Market by Application
9.4.6.3 UAE Battery Energy Storage System Market
9.4.6.3.1 UAE Battery Energy Storage System Market by Ownership
9.4.6.3.2 UAE Battery Energy Storage System Market by Battery Type
9.4.6.3.3 UAE Battery Energy Storage System Market by Energy Capacity
9.4.6.3.4 UAE Battery Energy Storage System Market by Connection Type
9.4.6.3.5 UAE Battery Energy Storage System Market by Application
9.4.6.4 Saudi Arabia Battery Energy Storage System Market
9.4.6.4.1 Saudi Arabia Battery Energy Storage System Market by Ownership
9.4.6.4.2 Saudi Arabia Battery Energy Storage System Market by Battery Type
9.4.6.4.3 Saudi Arabia Battery Energy Storage System Market by Energy Capacity
9.4.6.4.4 Saudi Arabia Battery Energy Storage System Market by Connection Type
9.4.6.4.5 Saudi Arabia Battery Energy Storage System Market by Application
9.4.6.5 South Africa Battery Energy Storage System Market
9.4.6.5.1 South Africa Battery Energy Storage System Market by Ownership
9.4.6.5.2 South Africa Battery Energy Storage System Market by Battery Type
9.4.6.5.3 South Africa Battery Energy Storage System Market by Energy Capacity
9.4.6.5.4 South Africa Battery Energy Storage System Market by Connection Type
9.4.6.5.5 South Africa Battery Energy Storage System Market by Application
9.4.6.6 Nigeria Battery Energy Storage System Market
9.4.6.6.1 Nigeria Battery Energy Storage System Market by Ownership
9.4.6.6.2 Nigeria Battery Energy Storage System Market by Battery Type
9.4.6.6.3 Nigeria Battery Energy Storage System Market by Energy Capacity
9.4.6.6.4 Nigeria Battery Energy Storage System Market by Connection Type
9.4.6.6.5 Nigeria Battery Energy Storage System Market by Application
9.4.6.7 Rest of LAMEA Battery Energy Storage System Market
9.4.6.7.1 Rest of LAMEA Battery Energy Storage System Market by Ownership
9.4.6.7.2 Rest of LAMEA Battery Energy Storage System Market by Battery Type
9.4.6.7.3 Rest of LAMEA Battery Energy Storage System Market by Energy Capacity
9.4.6.7.4 Rest of LAMEA Battery Energy Storage System Market by Connection Type
9.4.6.7.5 Rest of LAMEA Battery Energy Storage System Market by Application
Chapter 10. Company Profiles
10.1 General Electric (GE) Co.
10.1.1 Company Overview
10.1.2 Financial Analysis
10.1.3 Segmental and Regional Analysis
10.1.4 Research & Development Expense
10.2 Honeywell International, Inc.
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Regional & Segmental Analysis
10.2.4 Research & Development Expenses
10.2.5 Recent Strategies and Developments
10.2.5.1 Partnerships, Collaborations and Agreements:
10.2.5.2 Product Launches and Product Expansions:
10.2.6 SWOT Analysis
10.3 Panasonic Corporation
10.3.1 Company Overview
10.3.2 Financial Analysis
10.3.3 Segmental and Regional Analysis
10.3.4 Research & Development Expense
10.3.5 Recent Strategies and Developments
10.3.5.1 Partnerships, Collaborations and Agreements:
10.3.5.2 Product Launches and Product Expansions:
10.3.6 SWOT Analysis
10.4 Hitachi, Ltd.
10.4.1 Company Overview
10.4.2 Financial Analysis
10.4.3 Segmental and Regional Analysis
10.4.4 Research & Development Expenses
10.4.5 Recent Strategies and Developments
10.4.5.1 Partnerships, Collaborations and Agreements:
10.4.5.2 Acquisitions and Mergers:
10.5 Siemens AG
10.5.1 Company Overview
10.5.2 Financial Analysis
10.5.3 Segmental and Regional Analysis
10.5.4 Research & Development Expense
10.5.5 Recent Strategies and Developments
10.5.5.1 Partnerships, Collaborations and Agreements:
10.5.5.2 Acquisitions and Mergers:
10.5.5.3 Product Launches and Product Expansions:
10.6 Johnson Controls International PLC
10.6.1 Company Overview
10.6.2 Financial Analysis
10.6.3 Segmental and Regional Analysis
10.6.4 Research & Development Expense
10.6.5 Recent Strategies and Developments
10.6.5.1 Product Launches and Product Expansions:
10.7 Toshiba Corporation
10.7.1 Company Overview
10.7.2 Financial Analysis
10.7.3 Segmental and Regional Analysis
10.7.4 Research and Development Expense
10.7.5 Recent Strategies and Developments
10.7.5.1 Product Launches and Product Expansions:
10.8 LG Energy Solution Ltd.
10.8.1 Company Overview
10.8.2 Financial Analysis
10.8.3 Research & Development Expense
10.8.4 Recent Strategies and Developments
10.8.4.1 Partnerships, Collaborations, and Agreements:
10.8.4.2 Acquisitions and Mergers:
10.8.4.3 Product Launches and Product Expansions:
10.9 Samsung SDI Co., Ltd. (Samsung Electronics Group)
10.9.1 Company Overview
10.9.2 Financial Analysis
10.9.3 Recent Strategies and Developments
10.9.3.1 Acquisitions and Mergers:

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