Energy Storage As A Service Market Forecasts to 2030 – Global Analysis By Service (Ancillary Services, Transmission Infrastructure Services and Other Services), Component (Control and Monitoring System, Service Contract and Other Components), End User and

Energy Storage As A Service Market Forecasts to 2030 – Global Analysis By Service (Ancillary Services, Transmission Infrastructure Services and Other Services), Component (Control and Monitoring System, Service Contract and Other Components), End User and By Geography


According to Stratistics MRC, the Global Energy Storage As A Service Market is accounted for $68.66 billion in 2023 and is expected to reach $137.34 billion by 2030 growing at a CAGR of 10.41% during the forecast period. Energy Storage as a Service (ESaaS) is an innovative solution that allows businesses to access and utilize energy storage systems without the need for significant upfront investments. This service model enables companies to store excess energy during periods of low demand and release it during peak demand, enhancing overall energy efficiency. ESaaS providers typically offer a range of storage technologies, such as batteries or flywheels, tailored to meet specific energy needs. This approach not only promotes sustainability by optimizing energy usage but also provides cost savings and grid stability for businesses seeking flexible and reliable power solutions.

According to Synergy BV, the market opportunity for energy storage as a service in the U.S. is driven by factors such as peak load challenges in New York City. Moreover, this model has helped drive the initiative “Renewing the Energy Vision (REV)” of the U.S. states.

Market Dynamics:

Driver:

Grid stability and resilience

Energy storage systems play a pivotal role in maintaining grid stability by providing rapid response capabilities to balance supply and demand fluctuations. They act as a buffer, storing excess energy during periods of low demand and releasing it during peak demand, enhancing overall grid reliability. Additionally, energy storage contributes to grid resilience by offering backup power during emergencies and grid failures. As the demand for reliable and stable energy sources grows, the ESaaS market thrives, driven by its ability to address these key challenges in the power grid infrastructure.

Restraint:

Limited awareness and education

Many potential users and stakeholders are not fully informed about the benefits and functionalities of ESaaS solutions. This lack of awareness hampers the widespread adoption of these services. Additionally, inadequate education on the economic and environmental advantages of energy storage inhibits potential clients from recognizing the long-term value of ESaaS. Overcoming these barriers requires targeted efforts to raise awareness and enhance education about the capabilities and advantages of energy storage solutions.

Opportunity:

Electric vehicle (EV) charging infrastructure

As the adoption of electric vehicles continues to rise, the demand for efficient and reliable charging infrastructure grows. Energy Storage as a Service can play a crucial role by providing grid support, managing peak demand, and ensuring a stable power supply for EV charging stations. By offering flexible and scalable energy storage solutions, service providers can enhance the reliability of EV charging networks, optimize energy usage, and contribute to the overall sustainability of the electric transportation ecosystem. This synergy creates a promising market for energy storage-as-a Service providers to meet the evolving needs of the expanding EV infrastructure.

Threat:

Cost competitiveness

The Cost Competitiveness threat in the Energy Storage As A Service (ESaaS) market arises from potential challenges in achieving a competitive pricing structure compared to traditional energy storage solutions. Factors such as high initial investment costs, maintenance expenses, and the need for advanced technologies may hinder ESaaS providers in offering cost-effective services. Additionally, fluctuations in raw material prices and evolving industry standards can impact overall pricing strategies. To thrive in this market, ESaaS providers must focus on innovation, operational efficiency, and scalability to mitigate cost-related challenges.

Covid-19 Impact

The COVID-19 pandemic has both positively and negatively impacted the energy storage as a Service (ESaaS) market. On one hand, disruptions in the global supply chain and project delays have hindered the deployment of energy storage solutions. On the other hand, the increased focus on renewable energy and grid resilience has accelerated the adoption of ESaaS, driven by the need for reliable power supply. The pandemic has heightened awareness of the vulnerabilities in traditional energy systems, spurring interest in flexible and decentralized energy storage solutions. Overall, the market has shown resilience, with the potential for future growth as the world transitions towards sustainable energy practices.

The bulk energy services segment is expected to be the largest during the forecast period

The bulk energy services segment in the energy storage as a Service (ESaaS) market is experiencing robust growth due to its ability to provide large-scale energy storage solutions to industries and utilities. As demand for reliable and sustainable energy solutions rises, businesses are increasingly turning to Bulk Energy Services to manage peak demand. This segment's growth is driven by cost-effectiveness, scalability, and the flexibility it offers in adapting to diverse energy needs. Furthermore, by leveraging advanced technologies, such as battery storage systems, Bulk Energy Services contributes significantly to optimizing energy consumption and reducing overall operational costs.

The industrial segment is expected to have the highest CAGR during the forecast period

The industrial segment of the Energy Storage as a Service (ESaaS) market is experiencing significant growth due to increased demand for reliable and sustainable energy solutions. Industries are recognizing the benefits of outsourcing energy storage needs, allowing them to optimize operations while minimizing upfront capital investment. This model aligns with the growing focus on environmental sustainability and cost-effectiveness, making ESaaS an attractive option for industries seeking to reduce carbon footprints and operational expenses. Additionally, the industrial segment's growth is further fuelled by advancements in energy storage technologies and a rising awareness of the long-term economic advantages associated with outsourcing energy storage services.

Region with largest share:

North America has witnessed substantial growth in the Energy Storage as a Service (ESaaS) market due to several factors. Increasing renewable energy adoption, supportive government policies, and a growing focus on sustainability have accelerated the demand for energy storage solutions. The flexibility provided by ESaaS models, allowing businesses to access energy storage without substantial upfront investments, has further fueled market expansion. Additionally, advancements in technology and a rising awareness of the benefits of energy storage for grid stability have also contributed to the region's robust growth in the ESaaS market.

Region with highest CAGR:

The Asia-Pacific region has experienced significant growth in the Energy Storage as a Service (ESaaS) market due to rising demand for sustainable energy solutions and the need for grid stability. Governments in the region are increasingly emphasizing renewable energy integration to efficiently manage intermittent power sources. Additionally, growing awareness of environmental issues and the benefits of energy storage technologies have spurred investments in advanced energy storage solutions. The cost-effectiveness of ESaaS models has further accelerated their uptake in the Asia-Pacific, with businesses recognizing the advantages of outsourcing energy storage services.

Key players in the market

Some of the key players in Energy Storage As A Service market include ABB, Centrica, Customized Energy Solutions, Enel X, ENGIE Storage Services NA LLC, Honeywell International Inc., Hydrostor, Johnson Controls, NRStor Inc., Orsted, Siemens Energy, Suntuity Solar LLC, Veolia, WGL Holdings, Inc. and YSG Solar.

Key Developments:

In December 2023, volytica has announced it will be partnering with Enel X on a number of initiatives in electric bus fleet management, commencing with the deployment of the largest electric fleet of E-buses in Latin America. The new deployment, to take place in Mexico City, will help to demonstrate Enel X and volytica’s software solutions including an innovative battery diagnostics system (BDS) for real-time monitoring.

In October 2023, Hydrostor, a leading global long duration energy storage (LDES) developer and operator, expands its presence with the appointment of Sara Taylor to direct its Government & Regulatory Affairs initiatives in Australia. Sara will play a key role in advancing clean energy policies in the Australian market, with a focus on the deployment of Hydrostor’s Advanced Compressed Air Energy Storage (A-CAES) technology.

Services Covered:
• Ancillary Services
• Transmission Infrastructure Services
• Bulk Energy Services
• Distribution Infrastructure Services
• Customer Energy Management Services
• Other Services

Components Covered:
• Control and Monitoring System
• Service Contract
• Energy Storage System
• Other Components

End Users Covered:
• Industrial
• Utility
• Residential
• Commercial
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Energy Storage As A Service Market, By Service
5.1 Introduction
5.2 Ancillary Services
5.3 Transmission Infrastructure Services
5.4 Bulk Energy Services
5.5 Distribution Infrastructure Services
5.6 Customer Energy Management Services
5.7 Other Services
6 Global Energy Storage As A Service Market, By Component
6.1 Introduction
6.2 Control and Monitoring System
6.3 Service Contract
6.4 Energy Storage System
6.5 Other Components
7 Global Energy Storage As A Service Market, By End User
7.1 Introduction
7.2 Industrial
7.3 Utility
7.4 Residential
7.5 Commercial
7.6 Other End Users
8 Global Energy Storage As A Service Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 ABB
10.2 Centrica
10.3 Customized Energy Solutions
10.4 Enel X
10.5 ENGIE Storage Services NA LLC.
10.6 Honeywell International Inc.
10.7 Hydrostor
10.8 Johnson Controls
10.9 NRStor Inc.
10.10 Orsted
10.11 Siemens Energy
10.12 Suntuity Solar LLC
10.13 Veolia
10.14 WGL Holdings, Inc.
10.15 YSG Solar
List of Tables
Table 1 Global Energy Storage As A Service Market Outlook, By Region (2021-2030) ($MN)
Table 2 Global Energy Storage As A Service Market Outlook, By Service (2021-2030) ($MN)
Table 3 Global Energy Storage As A Service Market Outlook, By Ancillary Services (2021-2030) ($MN)
Table 4 Global Energy Storage As A Service Market Outlook, By Transmission Infrastructure Services (2021-2030) ($MN)
Table 5 Global Energy Storage As A Service Market Outlook, By Bulk Energy Services (2021-2030) ($MN)
Table 6 Global Energy Storage As A Service Market Outlook, By Distribution Infrastructure Services (2021-2030) ($MN)
Table 7 Global Energy Storage As A Service Market Outlook, By Customer Energy Management Services (2021-2030) ($MN)
Table 8 Global Energy Storage As A Service Market Outlook, By Other Services (2021-2030) ($MN)
Table 9 Global Energy Storage As A Service Market Outlook, By Component (2021-2030) ($MN)
Table 10 Global Energy Storage As A Service Market Outlook, By Control and Monitoring System (2021-2030) ($MN)
Table 11 Global Energy Storage As A Service Market Outlook, By Service Contract (2021-2030) ($MN)
Table 12 Global Energy Storage As A Service Market Outlook, By Energy Storage System (2021-2030) ($MN)
Table 13 Global Energy Storage As A Service Market Outlook, By Other Components (2021-2030) ($MN)
Table 14 Global Energy Storage As A Service Market Outlook, By End User (2021-2030) ($MN)
Table 15 Global Energy Storage As A Service Market Outlook, By Industrial (2021-2030) ($MN)
Table 16 Global Energy Storage As A Service Market Outlook, By Utility (2021-2030) ($MN)
Table 17 Global Energy Storage As A Service Market Outlook, By Residential (2021-2030) ($MN)
Table 18 Global Energy Storage As A Service Market Outlook, By Commercial (2021-2030) ($MN)
Table 19 Global Energy Storage As A Service Market Outlook, By Other End Users (2021-2030) ($MN)
Table 20 North America Energy Storage As A Service Market Outlook, By Country (2021-2030) ($MN)
Table 21 North America Energy Storage As A Service Market Outlook, By Service (2021-2030) ($MN)
Table 22 North America Energy Storage As A Service Market Outlook, By Ancillary Services (2021-2030) ($MN)
Table 23 North America Energy Storage As A Service Market Outlook, By Transmission Infrastructure Services (2021-2030) ($MN)
Table 24 North America Energy Storage As A Service Market Outlook, By Bulk Energy Services (2021-2030) ($MN)
Table 25 North America Energy Storage As A Service Market Outlook, By Distribution Infrastructure Services (2021-2030) ($MN)
Table 26 North America Energy Storage As A Service Market Outlook, By Customer Energy Management Services (2021-2030) ($MN)
Table 27 North America Energy Storage As A Service Market Outlook, By Other Services (2021-2030) ($MN)
Table 28 North America Energy Storage As A Service Market Outlook, By Component (2021-2030) ($MN)
Table 29 North America Energy Storage As A Service Market Outlook, By Control and Monitoring System (2021-2030) ($MN)
Table 30 North America Energy Storage As A Service Market Outlook, By Service Contract (2021-2030) ($MN)
Table 31 North America Energy Storage As A Service Market Outlook, By Energy Storage System (2021-2030) ($MN)
Table 32 North America Energy Storage As A Service Market Outlook, By Other Components (2021-2030) ($MN)
Table 33 North America Energy Storage As A Service Market Outlook, By End User (2021-2030) ($MN)
Table 34 North America Energy Storage As A Service Market Outlook, By Industrial (2021-2030) ($MN)
Table 35 North America Energy Storage As A Service Market Outlook, By Utility (2021-2030) ($MN)
Table 36 North America Energy Storage As A Service Market Outlook, By Residential (2021-2030) ($MN)
Table 37 North America Energy Storage As A Service Market Outlook, By Commercial (2021-2030) ($MN)
Table 38 North America Energy Storage As A Service Market Outlook, By Other End Users (2021-2030) ($MN)
Table 39 Europe Energy Storage As A Service Market Outlook, By Country (2021-2030) ($MN)
Table 40 Europe Energy Storage As A Service Market Outlook, By Service (2021-2030) ($MN)
Table 41 Europe Energy Storage As A Service Market Outlook, By Ancillary Services (2021-2030) ($MN)
Table 42 Europe Energy Storage As A Service Market Outlook, By Transmission Infrastructure Services (2021-2030) ($MN)
Table 43 Europe Energy Storage As A Service Market Outlook, By Bulk Energy Services (2021-2030) ($MN)
Table 44 Europe Energy Storage As A Service Market Outlook, By Distribution Infrastructure Services (2021-2030) ($MN)
Table 45 Europe Energy Storage As A Service Market Outlook, By Customer Energy Management Services (2021-2030) ($MN)
Table 46 Europe Energy Storage As A Service Market Outlook, By Other Services (2021-2030) ($MN)
Table 47 Europe Energy Storage As A Service Market Outlook, By Component (2021-2030) ($MN)
Table 48 Europe Energy Storage As A Service Market Outlook, By Control and Monitoring System (2021-2030) ($MN)
Table 49 Europe Energy Storage As A Service Market Outlook, By Service Contract (2021-2030) ($MN)
Table 50 Europe Energy Storage As A Service Market Outlook, By Energy Storage System (2021-2030) ($MN)
Table 51 Europe Energy Storage As A Service Market Outlook, By Other Components (2021-2030) ($MN)
Table 52 Europe Energy Storage As A Service Market Outlook, By End User (2021-2030) ($MN)
Table 53 Europe Energy Storage As A Service Market Outlook, By Industrial (2021-2030) ($MN)
Table 54 Europe Energy Storage As A Service Market Outlook, By Utility (2021-2030) ($MN)
Table 55 Europe Energy Storage As A Service Market Outlook, By Residential (2021-2030) ($MN)
Table 56 Europe Energy Storage As A Service Market Outlook, By Commercial (2021-2030) ($MN)
Table 57 Europe Energy Storage As A Service Market Outlook, By Other End Users (2021-2030) ($MN)
Table 58 Asia Pacific Energy Storage As A Service Market Outlook, By Country (2021-2030) ($MN)
Table 59 Asia Pacific Energy Storage As A Service Market Outlook, By Service (2021-2030) ($MN)
Table 60 Asia Pacific Energy Storage As A Service Market Outlook, By Ancillary Services (2021-2030) ($MN)
Table 61 Asia Pacific Energy Storage As A Service Market Outlook, By Transmission Infrastructure Services (2021-2030) ($MN)
Table 62 Asia Pacific Energy Storage As A Service Market Outlook, By Bulk Energy Services (2021-2030) ($MN)
Table 63 Asia Pacific Energy Storage As A Service Market Outlook, By Distribution Infrastructure Services (2021-2030) ($MN)
Table 64 Asia Pacific Energy Storage As A Service Market Outlook, By Customer Energy Management Services (2021-2030) ($MN)
Table 65 Asia Pacific Energy Storage As A Service Market Outlook, By Other Services (2021-2030) ($MN)
Table 66 Asia Pacific Energy Storage As A Service Market Outlook, By Component (2021-2030) ($MN)
Table 67 Asia Pacific Energy Storage As A Service Market Outlook, By Control and Monitoring System (2021-2030) ($MN)
Table 68 Asia Pacific Energy Storage As A Service Market Outlook, By Service Contract (2021-2030) ($MN)
Table 69 Asia Pacific Energy Storage As A Service Market Outlook, By Energy Storage System (2021-2030) ($MN)
Table 70 Asia Pacific Energy Storage As A Service Market Outlook, By Other Components (2021-2030) ($MN)
Table 71 Asia Pacific Energy Storage As A Service Market Outlook, By End User (2021-2030) ($MN)
Table 72 Asia Pacific Energy Storage As A Service Market Outlook, By Industrial (2021-2030) ($MN)
Table 73 Asia Pacific Energy Storage As A Service Market Outlook, By Utility (2021-2030) ($MN)
Table 74 Asia Pacific Energy Storage As A Service Market Outlook, By Residential (2021-2030) ($MN)
Table 75 Asia Pacific Energy Storage As A Service Market Outlook, By Commercial (2021-2030) ($MN)
Table 76 Asia Pacific Energy Storage As A Service Market Outlook, By Other End Users (2021-2030) ($MN)
Table 77 South America Energy Storage As A Service Market Outlook, By Country (2021-2030) ($MN)
Table 78 South America Energy Storage As A Service Market Outlook, By Service (2021-2030) ($MN)
Table 79 South America Energy Storage As A Service Market Outlook, By Ancillary Services (2021-2030) ($MN)
Table 80 South America Energy Storage As A Service Market Outlook, By Transmission Infrastructure Services (2021-2030) ($MN)
Table 81 South America Energy Storage As A Service Market Outlook, By Bulk Energy Services (2021-2030) ($MN)
Table 82 South America Energy Storage As A Service Market Outlook, By Distribution Infrastructure Services (2021-2030) ($MN)
Table 83 South America Energy Storage As A Service Market Outlook, By Customer Energy Management Services (2021-2030) ($MN)
Table 84 South America Energy Storage As A Service Market Outlook, By Other Services (2021-2030) ($MN)
Table 85 South America Energy Storage As A Service Market Outlook, By Component (2021-2030) ($MN)
Table 86 South America Energy Storage As A Service Market Outlook, By Control and Monitoring System (2021-2030) ($MN)
Table 87 South America Energy Storage As A Service Market Outlook, By Service Contract (2021-2030) ($MN)
Table 88 South America Energy Storage As A Service Market Outlook, By Energy Storage System (2021-2030) ($MN)
Table 89 South America Energy Storage As A Service Market Outlook, By Other Components (2021-2030) ($MN)
Table 90 South America Energy Storage As A Service Market Outlook, By End User (2021-2030) ($MN)
Table 91 South America Energy Storage As A Service Market Outlook, By Industrial (2021-2030) ($MN)
Table 92 South America Energy Storage As A Service Market Outlook, By Utility (2021-2030) ($MN)
Table 93 South America Energy Storage As A Service Market Outlook, By Residential (2021-2030) ($MN)
Table 94 South America Energy Storage As A Service Market Outlook, By Commercial (2021-2030) ($MN)
Table 95 South America Energy Storage As A Service Market Outlook, By Other End Users (2021-2030) ($MN)
Table 96 Middle East & Africa Energy Storage As A Service Market Outlook, By Country (2021-2030) ($MN)
Table 97 Middle East & Africa Energy Storage As A Service Market Outlook, By Service (2021-2030) ($MN)
Table 98 Middle East & Africa Energy Storage As A Service Market Outlook, By Ancillary Services (2021-2030) ($MN)
Table 99 Middle East & Africa Energy Storage As A Service Market Outlook, By Transmission Infrastructure Services (2021-2030) ($MN)
Table 100 Middle East & Africa Energy Storage As A Service Market Outlook, By Bulk Energy Services (2021-2030) ($MN)
Table 101 Middle East & Africa Energy Storage As A Service Market Outlook, By Distribution Infrastructure Services (2021-2030) ($MN)
Table 102 Middle East & Africa Energy Storage As A Service Market Outlook, By Customer Energy Management Services (2021-2030) ($MN)
Table 103 Middle East & Africa Energy Storage As A Service Market Outlook, By Other Services (2021-2030) ($MN)
Table 104 Middle East & Africa Energy Storage As A Service Market Outlook, By Component (2021-2030) ($MN)
Table 105 Middle East & Africa Energy Storage As A Service Market Outlook, By Control and Monitoring System (2021-2030) ($MN)
Table 106 Middle East & Africa Energy Storage As A Service Market Outlook, By Service Contract (2021-2030) ($MN)
Table 107 Middle East & Africa Energy Storage As A Service Market Outlook, By Energy Storage System (2021-2030) ($MN)
Table 108 Middle East & Africa Energy Storage As A Service Market Outlook, By Other Components (2021-2030) ($MN)
Table 109 Middle East & Africa Energy Storage As A Service Market Outlook, By End User (2021-2030) ($MN)
Table 110 Middle East & Africa Energy Storage As A Service Market Outlook, By Industrial (2021-2030) ($MN)
Table 111 Middle East & Africa Energy Storage As A Service Market Outlook, By Utility (2021-2030) ($MN)
Table 112 Middle East & Africa Energy Storage As A Service Market Outlook, By Residential (2021-2030) ($MN)
Table 113 Middle East & Africa Energy Storage As A Service Market Outlook, By Commercial (2021-2030) ($MN)
Table 114 Middle East & Africa Energy Storage As A Service Market Outlook, By Other End Users (2021-2030) ($MN)

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