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Advanced Energy Storage - Global Strategic Business Report

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    Report

  • 299 Pages
  • December 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 2531225
The global market for Advanced Energy Storage is estimated at 14 Thousand Megawatts in 2023 and is projected to reach 22 Thousand Megawatts by 2030, growing at a CAGR of 6.6% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Several other factors are driving the adoption and sophistication of advanced energy storage technologies. The decreasing costs of key components, such as lithium and other raw materials, are making storage solutions more affordable. Increased investment in research and development from both public and private sectors is spurring further innovation and adoption. Growing environmental awareness among consumers and businesses is driving demand for sustainable energy solutions, while the desire for energy independence, especially in remote or off-grid locations, boosts interest in energy storage systems. Utilities are investing in advanced storage to improve grid resilience and manage load fluctuations more effectively. Emerging business models like Energy Storage as a Service (ESaaS) are lowering barriers for businesses and residential consumers by offering storage solutions without upfront investments. The convergence of energy storage with the Internet of Things (IoT) allows for real-time data collection and analysis, enhancing operational efficiencies and predictive maintenance capabilities. These factors collectively create a robust ecosystem conducive to the growth and advancement of energy storage technologies, positioning them as integral components of modern energy systems.

Key Insights:

  • Market Growth: Understand the significant growth trajectory of the Thermal Energy Storage segment, which is expected to reach 11 Thousand Megawatts by 2030 with a CAGR of a 7.5%. The Electrochemical Energy Storage segment is also set to grow at 6.0% CAGR over the analysis period.
  • Regional Analysis: Gain insights into the U.S. market, estimated at 4 Thousand Megawatts in 2023, and China, forecasted to grow at an impressive 6.0% CAGR to reach 3 Thousand Megawatts by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

  • Detailed Market Analysis: Access a thorough analysis of the Global Advanced Energy Storage Market, covering all major geographic regions and market segments.
  • Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
  • Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Advanced Energy Storage Market.
  • Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

  • How is the Global Advanced Energy Storage Market expected to evolve by 2030?
  • What are the main drivers and restraints affecting the market?
  • Which market segments will grow the most over the forecast period?
  • How will market shares for different regions and segments change by 2030?
  • Who are the leading players in the market, and what are their prospects?

Report Features:

  • Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
  • In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
  • Company Profiles: Coverage of major players such as ABB Ltd., Active Power, Inc., AES Energy Storage, LLC, and more.
  • Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Select Competitors (Total 94 Featured):

  • ABB Ltd.
  • Active Power, Inc.
  • AES Energy Storage, LLC
  • Alevo Group S.A.
  • Altair Nanotechnologies, Inc.
  • Amber Kinetics, Inc.
  • Areva
  • Ashlawn Energy, LLC
  • Axion Power International, Inc.
  • Beacon Power, LLC
  • BYD Co. Ltd.
  • Calnetix Technologies, LLC
  • Dresser-Rand Group, Inc.
  • ECOULT
  • Electrochaea GmbH
  • Encell Technology, Inc.
  • EnSync Energy Systems, Inc.
  • Exide Technologies
  • General Electric Company
  • Gridflex Energy, LLC
  • Highview Enterprises Ltd.
  • Hitachi, Ltd.
  • Hyper Tech Research, Inc.
  • IMS group AS
  • ITM Power Plc
  • Kokam Co., Ltd
  • Leclanché SA
  • LG Chem
  • LightSail Energy
  • Maxwell Technologies, Inc.
  • McPhy Energy S.A.
  • NEC Energy Solutions
  • NGK Insulators, Ltd.
  • Proton OnSite
  • Redflow Limited
  • Saft Groupe S.A.
  • Samsung SDI Co., Ltd.
  • Siemens AG
  • Temporal Power
  • Tesla, Inc.
  • Tianjin Lishen Battery Co., Ltd.
  • Toshiba International Corporation
  • ViZn Energy Systems, Inc.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Rising Share of Intermittent Sources of Energy in Utility Energy Generation Portfolio: The Cornerstone for the Growth of Utility Grade Advanced Energy Storage Technologies
  • Recent Market Activity
  • Review of Renewable Energy Projects Undertaken Worldwide and Regulations Supporting Renewable Electricity-to-Grid Integration
  • Declining Cost of Wind and Solar Power Make Renewables an Important Part of Utility Energy Portfolio
  • Escalating Climate Change Adds Urgency to the Renewable Energy Revolution Underway in the Global Economy
  • How the Renewable Energy Boom Benefits Advanced Energy Storage Technologies
  • Despite Declines in Renewable Investments, Outlook for Advanced Energy Storage Remains Bright
  • Prolonged Softness in Oil Prices: What It Means for Renewable-to-Grid Integration
  • Market Outlook
  • Advanced Energy Storage - Global Key Competitors Percentage Market Share in 2024 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
  • Global Economic Update
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Growing Need for Grid Stability and Renewable Integration Drives Storage Solutions
  • Advances in Battery Technology Lower Costs and Enhance Efficiency
  • Expansion of Electric Vehicle Markets and Associated Energy Storage Demand
  • Government Incentives and Policy Support for Clean Energy Technologies
  • Innovations in Pumped Hydro Storage and Other Mechanical Storage Techniques
  • Rise in Distributed Energy Systems and Residential Energy Storage
  • Integration of IoT and Smart Technology for Energy Management Systems
  • Market Impact of Global Movements Towards Carbon Neutrality
  • Increasing Investment in Research and Development of Next-gen Storage Solutions
  • Future Trends in Artificial Intelligence for Optimizing Energy Storage Management
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Advanced Energy Storage by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2023 through 2030 and % CAGR
  • Table 2: World 7-Year Perspective for Advanced Energy Storage by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2024 & 2030
  • Table 3: World Recent Past, Current & Future Analysis for Thermal Energy Storage by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2023 through 2030 and % CAGR
  • Table 4: World 7-Year Perspective for Thermal Energy Storage by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
  • Table 5: World Recent Past, Current & Future Analysis for Electrochemical Energy Storage by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2023 through 2030 and % CAGR
  • Table 6: World 7-Year Perspective for Electrochemical Energy Storage by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
  • Table 7: World Recent Past, Current & Future Analysis for Other Technologies by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2023 through 2030 and % CAGR
  • Table 8: World 7-Year Perspective for Other Technologies by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
  • Table 9: World Recent Past, Current & Future Analysis for Transportation by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2023 through 2030 and % CAGR
  • Table 10: World 7-Year Perspective for Transportation by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
  • Table 11: World Recent Past, Current & Future Analysis for Grid Storage by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2023 through 2030 and % CAGR
  • Table 12: World 7-Year Perspective for Grid Storage by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
  • Table 13: World Advanced Energy Storage Market Analysis of Annual Sales in Megawatts for Years 2014 through 2030
III. MARKET ANALYSIS
UNITED STATES
  • Advanced Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
  • Table 14: USA Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2023 through 2030 and % CAGR
  • Table 15: USA 7-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2024 & 2030
  • Table 16: USA Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2023 through 2030 and % CAGR
  • Table 17: USA 7-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2024 & 2030
CANADA
  • Table 18: Canada Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2023 through 2030 and % CAGR
  • Table 19: Canada 7-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2024 & 2030
  • Table 20: Canada Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2023 through 2030 and % CAGR
  • Table 21: Canada 7-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2024 & 2030
JAPAN
  • Advanced Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
  • Table 22: Japan Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2023 through 2030 and % CAGR
  • Table 23: Japan 7-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2024 & 2030
  • Table 24: Japan Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2023 through 2030 and % CAGR
  • Table 25: Japan 7-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2024 & 2030
CHINA
  • Advanced Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
  • Table 26: China Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2023 through 2030 and % CAGR
  • Table 27: China 7-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2024 & 2030
  • Table 28: China Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2023 through 2030 and % CAGR
  • Table 29: China 7-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2024 & 2030
EUROPE
  • Advanced Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
  • Table 30: Europe Recent Past, Current & Future Analysis for Advanced Energy Storage by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in Megawatts for Years 2023 through 2030 and % CAGR
  • Table 31: Europe 7-Year Perspective for Advanced Energy Storage by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2024 & 2030
  • Table 32: Europe Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2023 through 2030 and % CAGR
  • Table 33: Europe 7-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2024 & 2030
  • Table 34: Europe Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2023 through 2030 and % CAGR
  • Table 35: Europe 7-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2024 & 2030
FRANCE
  • Advanced Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
  • Table 36: France Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2023 through 2030 and % CAGR
  • Table 37: France 7-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2024 & 2030
  • Table 38: France Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2023 through 2030 and % CAGR
  • Table 39: France 7-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2024 & 2030
GERMANY
  • Advanced Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
  • Table 40: Germany Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2023 through 2030 and % CAGR
  • Table 41: Germany 7-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2024 & 2030
  • Table 42: Germany Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2023 through 2030 and % CAGR
  • Table 43: Germany 7-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2024 & 2030
ITALY
  • Table 44: Italy Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2023 through 2030 and % CAGR
  • Table 45: Italy 7-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2024 & 2030
  • Table 46: Italy Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2023 through 2030 and % CAGR
  • Table 47: Italy 7-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2024 & 2030
UNITED KINGDOM
  • Advanced Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
  • Table 48: UK Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2023 through 2030 and % CAGR
  • Table 49: UK 7-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2024 & 2030
  • Table 50: UK Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2023 through 2030 and % CAGR
  • Table 51: UK 7-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2024 & 2030
REST OF EUROPE
  • Table 52: Rest of Europe Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2023 through 2030 and % CAGR
  • Table 53: Rest of Europe 7-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2024 & 2030
  • Table 54: Rest of Europe Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2023 through 2030 and % CAGR
  • Table 55: Rest of Europe 7-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2024 & 2030
ASIA-PACIFIC
  • Advanced Energy Storage Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
  • Table 56: Asia-Pacific Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2023 through 2030 and % CAGR
  • Table 57: Asia-Pacific 7-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2024 & 2030
  • Table 58: Asia-Pacific Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2023 through 2030 and % CAGR
  • Table 59: Asia-Pacific 7-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2024 & 2030
REST OF WORLD
  • Table 60: Rest of World Recent Past, Current & Future Analysis for Advanced Energy Storage by Technology - Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies - Independent Analysis of Annual Sales in Megawatts for the Years 2023 through 2030 and % CAGR
  • Table 61: Rest of World 7-Year Perspective for Advanced Energy Storage by Technology - Percentage Breakdown of Value Sales for Thermal Energy Storage, Electrochemical Energy Storage and Other Technologies for the Years 2024 & 2030
  • Table 62: Rest of World Recent Past, Current & Future Analysis for Advanced Energy Storage by Application - Transportation and Grid Storage - Independent Analysis of Annual Sales in Megawatts for the Years 2023 through 2030 and % CAGR
  • Table 63: Rest of World 7-Year Perspective for Advanced Energy Storage by Application - Percentage Breakdown of Value Sales for Transportation and Grid Storage for the Years 2024 & 2030
IV. COMPETITION

Companies Mentioned

  • ABB Ltd.
  • Active Power, Inc.
  • AES Energy Storage, LLC
  • Alevo Group S.A.
  • Altair Nanotechnologies, Inc.
  • Amber Kinetics, Inc.
  • Areva
  • Ashlawn Energy, LLC
  • Axion Power International, Inc.
  • Beacon Power, LLC
  • BYD Co. Ltd.
  • Calnetix Technologies, LLC
  • Dresser-Rand Group, Inc.
  • ECOULT
  • Electrochaea GmbH
  • Encell Technology, Inc.
  • EnSync Energy Systems, Inc.
  • Exide Technologies
  • General Electric Company
  • Gridflex Energy, LLC
  • Highview Enterprises Ltd.
  • Hitachi, Ltd.
  • Hyper Tech Research, Inc.
  • IMS group AS
  • ITM Power Plc
  • Kokam Co., Ltd
  • Leclanché SA
  • LG Chem
  • LightSail Energy
  • Maxwell Technologies, Inc.
  • McPhy Energy S.A.
  • NEC Energy Solutions
  • NGK Insulators, Ltd.
  • Proton OnSite
  • Redflow Limited
  • Saft Groupe S.A.
  • Samsung SDI Co., Ltd.
  • Siemens AG
  • Temporal Power
  • Tesla, Inc.
  • Tianjin Lishen Battery Co., Ltd.
  • Toshiba International Corporation
  • ViZn Energy Systems, Inc.

Table Information