+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Battery Energy Storage Systems - Global Strategic Business Report

  • PDF Icon

    Report

  • 427 Pages
  • October 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 4804362
The global market for Battery Energy Storage Systems is estimated at US$6.6 Billion in 2023 and is projected to reach US$38.4 Billion by 2030, growing at a CAGR of 28.5% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

The growth in the Battery Energy Storage Systems market is driven by several factors, including technological innovations, regulatory incentives, and shifts in consumer behavior. Technological advancements have led to improvements in battery efficiency, lifespan, and energy density, making BESS more attractive for a variety of applications from grid management to commercial energy solutions.

Government policies and incentives promoting clean energy adoption have also significantly boosted the installation of BESS alongside renewable energy systems. Additionally, as consumers become more energy-conscious, there is increasing interest in technologies that offer energy independence and sustainability, which further stimulates demand for BESS.

Key Insights:

  • Market Growth: Understand the significant growth trajectory of the Battery Element segment, which is expected to reach US$28.9 Billion by 2030 with a CAGR of a 30.1%. The Other Elements segment is also set to grow at 24.6% CAGR over the analysis period.
  • Regional Analysis: Gain insights into the U.S. market, estimated at $1.6 Billion in 2023, and China, forecasted to grow at an impressive 34.0% CAGR to reach $7.5 Billion 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 Battery Energy Storage Systems 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 Battery Energy Storage Systems 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 Battery Energy Storage Systems 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., Bayerische Motoren Werke AG (BMW GROUP), Altairnano, and more.
  • Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Select Competitors (Total 85 Featured):

  • ABB Ltd.
  • Bayerische Motoren Werke AG (BMW GROUP)
  • Altairnano
  • BYD Co., Ltd.
  • Amperex Technology Ltd.
  • Beacon Power LLC
  • C&D Technologies, Inc.
  • AEG Power Solutions B.V.
  • Alevo Group SA
  • Carnegie Wave Energy Ltd.
  • BELECTRIC Solar & Battery GmbH
  • Alfen N.V.
  • Btech, Inc.
  • BAE Batterien GmbH
  • Amara Raja Group

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Battery Energy Storage Systems - Global Key Competitors Percentage Market Share in 2024 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
  • An Introduction to Battery Energy Storage Systems
  • The Technologies
  • Key Applications of BESS
  • Global Market Prospects & Outlook
  • Grid Modernization Initiatives Drive the World Battery Energy Storage Systems Market
  • Pandemic Impacts the Market Over the Short Term
  • Analysis by Battery Chemistry
  • World Battery Energy Storage Systems Market by Battery Chemistry (2024 & 2030): Percentage Breakdown of Sales for Lithium-Ion, Flow, Advanced Lead-Acid, and Other Battery Chemistries
  • Analysis by Application
  • World Battery Energy Storage Systems Market by Application (2024 & 2030): Percentage Breakdown of Sales for Utilities, Residential, and Other Applications
  • Regional Analysis
  • World Battery Energy Storage Systems Market by Region (2024 & 2030): Percentage Breakdown of Sales for Developed and Developing Regions
  • World Battery Energy Storage Systems Market - Geographic Regions Ranked by CAGR (Sales) for 2023-2030: China, Asia-Pacific, Rest of World, Canada, USA, Europe, and Japan
  • Competitive Scenario
  • Recent Market Activity
  • Select Innovations & Advancements
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Key Trends Driving the Battery Energy Storage Systems Market
  • Growth of Intermittent Renewable Energy Sources and the Resulting Need for Energy Storage: A Key Opportunity for Battery Energy Storage Systems
  • Global Energy Production by Energy Source (2017, 2020, 2030 and 2040): Breakdown of Electricity (Billion Kilowatt Hours) and Percentage Share for Petroleum, Nuclear, Natural Gas, Coal and Renewables
  • Targets for Electricity Production from Renewable Energy Sources in Select Countries
  • Investment Scenario on Renewable Energy Remains Impacted
  • Inevitable Rise in Energy Demand Post COVID-19 to Throw Spotlight on Renewable Energy & Energy Storage Technologies
  • Burgeoning Global Population Propels Demand for Electric Power
  • World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
  • Growing Investments in Renewable Energy to Trigger Growth in Energy Storage Domain
  • Optimization of Plant Efficiency Using Smart Solutions for Energy Storage
  • Established Image of Lithium-ion Batteries to Drive Market Momentum
  • Li-ion Batteries Vs Flow Batteries
  • Flow Batteries: One of the Key Battery Chemistries of BESS
  • World Flow Battery by Geographic Region - Annual Sales in US$ Million for Years 2021 and 2027
  • Growing Opportunities for Flow Batteries in Clean Energy Space
  • New Solar Flow Battery with Increased Energy Conversion Efficiency
  • Pandemic Impact on the Vanadium Redox Battery Market
  • World Vanadium Redox Battery by Geographic Region - Annual Sales in US$ Million for Years 2021 and 2027
  • Vanadium Redox Flow Batteries Face Stiff Challenge in Replacing Li-ion Batteries for Utility-Scale Storage
  • Utilities: The Major End-Use Market for Battery Energy Storage Systems
  • Need for Improved Energy Management amidst Increasing Demand for Electricity Benefits Market Expansion
  • Global Energy Demand & Growth (In Million Tonnes of Oil Equivalent (Mtoe)) for the Years 1990, 2000, 2010, 2020, 2030 and 2040
  • Grid Modernization Programs Emphasize Grid Connected Energy Storage
  • Smart Grids Elevate the Prospects for BESS
  • Residential Applications to Witness Increased Penetration of BESS in the Long Run
  • Robust Outlook for EVs Opens New Avenues of Growth for EV Batteries & BESS Integrated EVCS Market
  • With COVID-19 Pandemic Affecting EV Sales, Prospects Hit for Battery Materials and BESS Market
  • Increasing Importance of Batteries in the Modern World Presents Opportunities for Cathode Materials
  • Recycling of Battery Systems
  • Challenges Confronting the Global Battery Storage System Market
4. GLOBAL MARKET PERSPECTIVE
  • TABLE 1: World Recent Past, Current & Future Analysis for Battery Energy Storage Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • TABLE 2: World Historic Review for Battery Energy Storage Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2016 through 2022 and % CAGR
  • TABLE 3: World 14-Year Perspective for Battery Energy Storage Systems by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2016, 2024 & 2030
  • TABLE 4: World Recent Past, Current & Future Analysis for Battery by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • TABLE 5: World Historic Review for Battery by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2016 through 2022 and % CAGR
  • TABLE 6: World 14-Year Perspective for Battery by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2016, 2024 & 2030
  • TABLE 7: World Recent Past, Current & Future Analysis for Other Elements by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • TABLE 8: World Historic Review for Other Elements by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2016 through 2022 and % CAGR
  • TABLE 9: World 14-Year Perspective for Other Elements by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2016, 2024 & 2030
  • TABLE 10: World Recent Past, Current & Future Analysis for Lithium-Ion by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • TABLE 11: World Historic Review for Lithium-Ion by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2016 through 2022 and % CAGR
  • TABLE 12: World 14-Year Perspective for Lithium-Ion by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2016, 2024 & 2030
  • TABLE 13: World Recent Past, Current & Future Analysis for Flow by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • TABLE 14: World Historic Review for Flow by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2016 through 2022 and % CAGR
  • TABLE 15: World 14-Year Perspective for Flow by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2016, 2024 & 2030
  • TABLE 16: World Recent Past, Current & Future Analysis for Advanced Lead-Acid by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • TABLE 17: World Historic Review for Advanced Lead-Acid by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2016 through 2022 and % CAGR
  • TABLE 18: World 14-Year Perspective for Advanced Lead-Acid by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2016, 2024 & 2030
  • TABLE 19: World Recent Past, Current & Future Analysis for Other Battery Chemistries by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • TABLE 20: World Historic Review for Other Battery Chemistries by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2016 through 2022 and % CAGR
  • TABLE 21: World 14-Year Perspective for Other Battery Chemistries by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2016, 2024 & 2030
  • TABLE 22: World Recent Past, Current & Future Analysis for Utilities by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • TABLE 23: World Historic Review for Utilities by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2016 through 2022 and % CAGR
  • TABLE 24: World 14-Year Perspective for Utilities by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2016, 2024 & 2030
  • TABLE 25: World Recent Past, Current & Future Analysis for Residential by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • TABLE 26: World Historic Review for Residential by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2016 through 2022 and % CAGR
  • TABLE 27: World 14-Year Perspective for Residential by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2016, 2024 & 2030
  • TABLE 28: World Recent Past, Current & Future Analysis for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • TABLE 29: World Historic Review for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2016 through 2022 and % CAGR
  • TABLE 30: World 14-Year Perspective for Other Applications by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2016, 2024 & 2030
  • TABLE 31: World Battery Energy Storage Systems Market Analysis of Annual Sales in US$ Thousand for Years 2016 through 2030
III. MARKET ANALYSIS
UNITED STATES
  • Battery Energy Storage Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
CANADA
JAPAN
  • Battery Energy Storage Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
CHINA
  • Battery Energy Storage Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
EUROPE
  • Battery Energy Storage Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
FRANCEGERMANYITALYUNITED KINGDOMREST OF EUROPE
ASIA-PACIFIC
  • Battery Energy Storage Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
REST OF WORLDIV. COMPETITION

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • ABB Ltd.
  • Bayerische Motoren Werke AG (BMW GROUP)
  • Altairnano
  • BYD Co., Ltd.
  • Amperex Technology Ltd.
  • Beacon Power LLC
  • C&D Technologies, Inc.
  • AEG Power Solutions B.V.
  • Alevo Group SA
  • Carnegie Wave Energy Ltd.
  • BELECTRIC Solar & Battery GmbH
  • Alfen N.V.
  • Btech, Inc.
  • BAE Batterien GmbH
  • Amara Raja Group

Table Information