Global Battery Energy Storage Systems for Smart Grid Market Growth 2023-2029

Global Battery Energy Storage Systems for Smart Grid Market Growth 2023-2029

Owing to the growing consumption of power across the globe, there is a greater need for energy storage as distributed generation. Distributed generation produces power close to the areas where it is consumed so that the distance is reduced, resulting in less transmission and distribution losses. Distributed Energy Resources (DER) will be increasingly used to meet the future electricity demands for residential and industrial customers, utilities and commercial customers. The growing requirement to mitigate the power transmission and distribution losses will propel the demand for distributed generation during the forecast period.

LPI (LP Information)' newest research report, the “Battery Energy Storage Systems for Smart Grid Industry Forecast” looks at past sales and reviews total world Battery Energy Storage Systems for Smart Grid sales in 2022, providing a comprehensive analysis by region and market sector of projected Battery Energy Storage Systems for Smart Grid sales for 2023 through 2029. With Battery Energy Storage Systems for Smart Grid sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Battery Energy Storage Systems for Smart Grid industry.

This Insight Report provides a comprehensive analysis of the global Battery Energy Storage Systems for Smart Grid landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Battery Energy Storage Systems for Smart Grid portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Battery Energy Storage Systems for Smart Grid market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Battery Energy Storage Systems for Smart Grid and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Battery Energy Storage Systems for Smart Grid.

The global Battery Energy Storage Systems for Smart Grid market size is projected to grow from US$ million in 2022 to US$ million in 2029; it is expected to grow at a CAGR of % from 2023 to 2029.

Key factors such as the aging power infrastructure, need for mitigation of cybersecurity risks and accumulation of new resources to the grid has propelled the grid manufacturing companies to opt for ways to make the grid reliable, protect it against cybersecurity, and increase flexibility to make rapid changes according to supply and demand conditions. Many utilities are implementing smart grids that use digital and IT systems to manage the power flow efficiently and effectively. The Americas dominated the battery energy storage market for smart grid and accounted for most 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.

This report presents a comprehensive overview, market shares, and growth opportunities of Battery Energy Storage Systems for Smart Grid market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Secondary Batteries
Flow Batteries
Others

Segmentation by application
Energy Management
Backup Power
Voltage Support
Load Leveling
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Siemens
ABB
Samsung SDI
GEAlstom
A123
Bosch
BYD
AES Energy Storage
LG Chem

Key Questions Addressed in this Report

What is the 10-year outlook for the global Battery Energy Storage Systems for Smart Grid market?

What factors are driving Battery Energy Storage Systems for Smart Grid market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Battery Energy Storage Systems for Smart Grid market opportunities vary by end market size?

How does Battery Energy Storage Systems for Smart Grid break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.