Battery Energy Storage System Market

Battery Energy Storage System Market by Element (Battery, Hardware), Battery Type (Lithium-Ion, Advanced Lead Acid, Flow Batteries, Sodium Sulfur), Connection Type (On-Grid And Off-Grid), Ownership, Application, and Geography - Global Forecast to 2023

Report Code: SE 4200 Mar, 2018, by marketsandmarkets.com
Updated date -

MarketsandMarkets forecasts the battery energy storage system market is expected to grow from USD 2.0 billion in 2018 to reach USD 8.5 billion by 2023, at a CAGR of 33.9% between 2018 and 2023. Increasing demand for grid-connected solutions is one of the major factors driving the growth of the market. Moreover, high demand for the lithium-ion technology in the renewable energy industry, and declining prices of lithium-ion batteries are expected to considerably boost the market in the coming years. The objective of the report is to define, describe, and forecast the market size based on element, battery type, ownership, connection type, application, and region.    

Battery Energy Storage System Market

Lithium-ion batteries to hold largest size of the battery energy storage system market throughout the forecast period

The lithium-ion batteries have a long lifespan of 5–15 years, and up to 98% efficiency (i.e., only 2% of electrical charge is lost during use). The lithium-ion batteries have very high energy and power densities, which leads to lower weight with low standby losses, and high life expectancy. Lithium-ion batteries continue to hold a large size of the battery energy storage system market owing to its features such as high energy density, self-discharge capability, low maintenance requirement, less weight, and high life expectancy.

Utilities to hold largest size of the battery energy storage system market during the forecast period

Battery energy storage system is well suited for smoothing the variable output of renewables and controlling the rapid ramping up and down of solar as well as wind generation. The grid operators and regulators are aware of the importance of battery energy storage systems and their ability to cater through multiple services. The utility operators are using these systems in their resource planning processes, which reduces the system costs and increases storage capacity.

Battery energy storage system market in APAC to grow at the highest CAGR between 2018 and 2023

APAC is gradually becoming a hub for the battery energy storage system industry. The demand for battery energy storage systems from China, India, and Japan is gradually increasing. The electricity demand in China is on rise due to the rapid population growth in the country. To fulfill the increasing demand from this population, the state-owned State Grid Corporation of China, the world’s largest utility, has deployed battery energy storage systems to provide ancillary services throughout its grid.

Battery Energy Storage System Market

Battery Energy Storage System Market Dynamics

Driver:  Increasing Demand For Grid-Connected Solutions

The most prominent types of renewable energy sources are solar and wind that are stored in the grid. However, the concealing of the sun by clouds or fluctuations in the wind current lead to the variations in the process of energy generation. Such fluctuations create a need for the flexible grid systems for energy storage. Battery energy storage systems help the grid operators to save the electricity when the quantity of electricity exceeds the demand for electricity. The adoption of these systems improves the reliability and flexibility of the electricity supply system with respect to generation, transmission, and distribution. During transmission and distribution, battery energy storage systems can handle the aspects such as asset deferral, frequency regulation, harmonic suppression, voltage support, and power quality. Electric energy time shift, baseload leveling and peak shaving, renewable energy time shift, and renewables capacity firming are the other benefits of using battery energy storage systems for grid-connected solutions, which drive the adoption of these systems, thus fueling the growth of the market.

Siemens offers SIESTORAGE, an intelligent grid solution. SIESTORAGE is capable of overcoming the challenges phased during the 3 main aspects of power supply—optimizing grid connections, providing flexible energy for modern grids, and supporting large energy consumers. In July 2015, EDP Distribuicao offered Storage InovGrid tender to Siemens’s SIESTORAGE in Évora (Portugal). The SIESTORAGE system provides services such as energy back-up, voltage regulation, and peak shaving in EDP’s grid stability, and reflects the benefits of intelligent grids to the grid operators.

Restraint:  High capital investment required for the deployment  

Battery energy storage technologies, including lithium-ion batteries, flow batteries, and lead-acid batteries, require high capital investment due to high-energy density and improved performance delivered by these batteries. Lithium-ion batteries cost more due to their characteristics such as high energy density, low rate of self-discharge, and less maintenance requirement. The high cost of lithium-ion batteries further increases the cost of battery energy storage systems, as lithium-ion batteries are embedded in the form of modules and packs.

The cost of battery energy storage systems depends on the types and number of batteries used, and it also varies as per the intended application (residential, non-residential, and utilities) of the systems. The integration of different batteries (in the form of packs, modules, and racks), inverter, battery management system (BMS), and wiring in the battery energy storage systems result into the increased costs of these systems. During the installation of battery energy storage systems, the required capital cost comprises storage system footprint and space requirements (energy and power density); components related to the battery energy storage systems (batteries, power converters, and BMS); and facility infrastructure (communications and control, environmental control, grid interconnection). Also, the total operating cost of battery energy storage systems is the combination of the factors such as the cost of charging the system, labor associated with the installation of these systems; maintenance in the plant; replacement and repair cost; and decommissioning and disposal cost. Thus, the installation of a battery energy storage system in a plant or any required place requires a high capital investment that acts as a restraint for the growth of the market.

Opportunity:  Increasing focus on rural electrification worldwide

Rural electrification is the process of bringing electrical power to rural or remote areas. Battery energy storage is the most effective storage technology for rural electrification applications. Various countries in the world are trying to develop their remote areas. They need to have a reliable and uninterrupted power supply from the renewable and conventional sources, increase the overall system efficiency, and provide economic savings across the system life cycle to fulfill this purpose.

The Alliance for Rural Electrification (ARE) is an international association that works toward the integration of renewables into rural electrification markets in developing and emerging countries. The growing volume of entrepreneurial seed capital, utility corporate social responsibility funding, and corporate and social investor capital are supporting the investment for rural electrification. For instance, in June 2016, ABB installed a 1 MVA/380 kWh battery-based PowerStore solution to maximize the renewable energy penetration and reliability of power supply. Its facility in Longmeadow (Johannesburg, South Africa) had the power load of ~750 kW, and the facility was grid-connected. The facility suffered from frequent grid outages, which was impacting its operations and power quality on site. The PowerStore system enables high renewable energy penetration and smooth transitioning from grid-connected to off-grid mode in the event of a grid outage.

Challenge: Installation of battery energy storage systems in remote locations

The installation of battery energy storage systems in remote locations is difficult as these locations are difficult to reach. The remote locations usually include island and off-grid remote locations, which face various challenges due to a variable generation and supply of power generated through renewable energy sources. The challenges include ambient conditions such as temperature variation during day and night, costly maintenance due to travel requirements to reach these locations, and lack of installation infrastructure for equipment. The sun-belt regions (off-grid) exceed the local load during the sunniest hours of the day, and the battery energy storage systems store the excess solar energy and compensate the photovoltaic (PV) power fluctuations. Reaching the remote areas frequently is not possible for the operators; hence, they also use diesel generators, which are only activated when the charge status of the battery falls below the minimum set point. The diesel generators are expensive and have high emissions. Also, the shipping of battery energy storage systems and diesel generators to remote areas becomes difficult due to the restrictive government regulations. This factor acts as a challenge for the growth of the battery energy storage system market in remote localities, such as island and off-grid regions.

Battery Energy Storage System Market

Scope of the Report

Report Metric

Details

Market size available for years

2015–2023

Base year considered

2017

Forecast period

2018–2023

Forecast units

Value (USD)

Segments covered

Element, Battery Type, Ownership, Connection Type, Application, and Region

Geographies covered

North America, APAC, Europe, and RoW

Companies covered

ABB (Switzerland), LG Chem (South Korea), NEC (Japan), Panasonic (Japan), and Samsung SDI (South Korea), among others (total 20 players are covered).

This research report categorizes the battery energy storage system market based on Element, Battery Type, Ownership, Connection Type, Application, and Region.

Battery Energy Storage System Market, by Element

  • Battery
  • Hardware
  • Other Elements

Battery Energy Storage System Market, by Battery Type

  • Lithium-Ion Batteries
  • Sodium–Sulfur Batteries
  • Advanced Lead-Acid Batteries
  • Flow Batteries
  • Others

Battery Energy Storage System Market, By Connection Type

  • On-Grid Connection
  • Off-Grid Connection

Battery Energy Storage System MARKET, BY OWNERSHIP

  • Customer Owned
  • Third-Party Owned
  • Utility Owned

Battery Energy Storage System Market, by Application

  • Residential
  • Non-Residential
  • Utilities 
  • Others

Battery Energy Storage System Market, by Geography

  • North America (US, Canada, and Mexico)
  • Europe (UK, Germany, France, and Rest of Europe)
  • APAC (China, Japan, India, South Korea, and Rest of APAC)
  • RoW (South America, and the Middle East and Africa)

Key Market Players

Key players in the Battery Energy Storage System market include ABB (Switzerland), LG Chem (South Korea), NEC (Japan), Panasonic (Japan), Samsung SDI (South Korea), AEG Power Solutions (Netherlands), General Electric Co. (US), Hitachi (Japan), Siemens (Germany), and Tesla (US).

Samsung SDI (South Korea) manufactures the large-sized battery energy storages systems integrated with the best rechargeable batteries, which are used in the latest mobile devices and electric cars. It has established a strong brand name owing to its innovative approach, technological excellence, high sustainability, and high-quality products. The company also has a strong geographic presence. The offerings of the company are focused on the sustainable technologies, and are used as storage solutions in the telecom, residential, commercial, and utility applications.

Recent Developments

  • In November 2017, NEC Energy Solutions (NEC ES) (Japan) partnered with Trimark Associates as its qualified DSS partner in the US. The combination of NEC ES’s distributed storage system with Trimark’s power management solution is the perfect mix of technologies, enabling customers to maximize revenue, meet compliance requirements, optimize operations, and manage asset life cycles.
  • In October 2017, Samsung SDI (South Korea) launched a product line of high-performance batteries, including the cylindrical 21700 model, during the InterBattery (the battery conference) 2017. The company displayed all future technologies through small-sized/ESS/EV batteries as well as next-generation all-solid-state batteries (ASSB). Also, the company launched the utility ESS model with an increased capacity of 9.1 MWh.
  • In September 2017, Panasonic (Japan) launched Japan’s first microgrid system for 117 homes. This is a joint project of PanaHome, ENERES, IBJ Leasing, and the Public Enterprises Agency. In the project, the storage battery systems are utilized for the residential purpose.

Critical questions the report answers:

  • Where will all these developments take the industry in the mid to long term?
  • What are the emerging applications of battery energy storage systems?
  • How are advancements in battery technology influencing the battery energy storage systems market?
  • Which battery technology is expected to penetrate significantly in the battery energy storage systems market?

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information:

  • Detailed analysis and profiling of additional market players (up to 5)

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction
    1.1 Objectives of the Study
    1.2 Definition
    1.3 Scope of Study
           1.3.1 Markets Covered
           1.3.2 Years Considered for Study
    1.4 Currency & Pricing
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology
    2.1 Research Data
           2.1.1 Secondary & Primary Research
           2.1.2 Secondary Data
                    2.1.2.1 List of Major Secondary Sources
                    2.1.2.2 Secondary Sources
           2.1.3 Primary Data
                    2.1.3.1 Primary Interviews With Experts
                    2.1.3.2 Key Data From Primary Sources
                    2.1.3.3 Key Industry Insights
                    2.1.3.4 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach for Arriving at the Market Share By the Bottom-Up Analysis (Demand Side)
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing the Market Share By Top-Down Analysis (Supply Side)
    2.3 Market Breakdown & Data Triangulation
    2.4 Research Assumptions

3 Executive Summary

4 Premium Insights
    4.1 Attractive Growth Opportunities in Battery Energy Storage System Market
    4.2 Market, By Battery Type
    4.3 Market, By Ownership
    4.4 Market, By Connection Type
    4.5 Market, By Application
    4.6 Market in APAC, By Application & Country
    4.7 Market, By Geography

5 Market Overview
    5.1 Introduction
           5.1.1 Drivers
                    5.1.1.1 Increasing Demand for Grid-Connected Solutions
                    5.1.1.2 High Demand for the Lithium-Ion Technology in the Renewable Energy Industry
                    5.1.1.3 Declining Prices of Lithium-Ion Batteries
           5.1.2 Restraints
                    5.1.2.1 High Capital Investment Required for the Deployment
                    5.1.2.2 Lack of the Availability of Vendors and Project Financing
           5.1.3 Opportunities
                    5.1.3.1 Increasing Focus on Rural Electrification Worldwide
                    5.1.3.2 Development of Molten-Salt Battery Technology
                    5.1.3.3 Large Storage Requirements in Datacenters
                    5.1.3.4 Efforts Taken By Governments Around the World to Reduce Carbon Emissions By Mandating on Fuel Economy
           5.1.4 Challenge
                    5.1.4.1 Installation of Battery Energy Storage Systems in Remote Locations

6 Industry Trends
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Standards & Regulations for Battery Energy Storage System
    6.4 Software & Services in Battery Energy Storage System
           6.4.1 Services
    6.5 List of Installed Battery Energy Storage System Projects in 2017

7 Battery Energy Storage System Market, By Element
    7.1 Introduction
    7.2 Battery
    7.3 Hardware
    7.4 Other Elements

8 Battery Energy Storage System Market, By Battery Type
    8.1 Introduction
    8.2 Lithium-Ion Batteries
    8.3 Sodium–Sulfur Batteries
    8.4 Advanced Lead-Acid Batteries
    8.5 Flow Batteries 
    8.6 Others
           8.6.1 Nickel–Cadmium Battery
           8.6.2 Nickel Metal Hydride Battery
           8.6.3 Nickel–Iron Battery

9 Battery Energy Storage System Market, By Connection Type
    9.1 Introduction
    9.2 On-Grid Connection
    9.3 Off-Grid Connection

10 Battery Energy Storage System Market, By Ownership
     10.1 Introduction
     10.2 Customer Owned
     10.3 Third-Party Owned
     10.4 Utility Owned

11 Battery Energy Storage System Market, By Application
     11.1 Introduction
     11.2 Residential
     11.3 Non-Residential
     11.4 Utilities
     11.5 Other Applications

12 Geographic Analysis
     12.1 Introduction
     12.2 North America
             12.2.1 US
             12.2.2 Canada
             12.2.3 Mexico
     12.3 Europe
             12.3.1 UK
             12.3.2 Germany
             12.3.3 France
             12.3.4 Rest of Europe
     12.4 APAC
             12.4.1 China
             12.4.2 Japan
             12.4.3 India
             12.4.4 South Korea
             12.4.5 Rest of APAC
     12.5 Rest of the World (RoW)
             12.5.1 South America
             12.5.2 Middle East
             12.5.3 Africa

13 Competitive Landscape
     13.1 Overview
     13.2 Market Ranking Analysis: Battery Energy Storage System Market, 2017
     13.3 Competitive Situation & Trends
             13.3.1 Agreements, Contracts, Collaborations, & Partnerships
             13.3.2 Product Launches & Developments
             13.3.3 Expansions
             13.3.4 Acquisitions

14 Company Profiles
     14.1 Introduction
     14.2 Key Players
             14.2.1 Abb
             14.2.2 LG Chem
             14.2.3 NEC
             14.2.4 Panasonic
             14.2.5 Samsung SDI
             14.2.6 AEG Power Solutions
             14.2.7 General Electric
             14.2.8 Hitachi
             14.2.9 Siemens AG
             14.2.10 Tesla
     14.3 Other Key Players
             14.3.1 The Aes Corporation
             14.3.2 Alevo Group
             14.3.3 Exergonix
             14.3.4 Corvus Energy
             14.3.5 East Penn Manufacturing
             14.3.6 Enerdel
             14.3.7 Mitsubishi Heavy Industries (MHI) Group
             14.3.8 NGK Insulators
             14.3.9 Toshiba Infrastructure Systems & Solutions
             14.3.10 Trinabess

15 Appendix
     15.1 Insights of Industry Experts
     15.2 Discussion Guide
     15.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     15.4 Introducing Rt: Real-Time Market Intelligence
     15.5 Available Customizations
     15.6 Related Reports
     15.7 Author Details


List of Tables (114 Tables)

Table 1 Capital, Operational, and Charging Costs for Battery Energy Storage Systems
Table 2 Regulations and Standards for Battery Energy Storage Systems
Table 3 Battery Energy Storage Systems Installed in 2017
Table 4 Market, By Element, 2015–2025 (USD Million)
Table 5 Market for Hardware, By Connection Type, 2015–2025 (USD Million)
Table 6 Market for Hardware, By Ownership, 2015–2025 (USD Million)
Table 7 Market for Hardware, By Application, 2015–2025 (USD Million)
Table 8 Market for Hardware, By Region, 2015–2025 (USD Million)
Table 9 Market for Other, By Connection Type, 2015–2025 (USD Million)
Table 10 Market for Other, By Ownership, 2015–2025 (USD Million)
Table 11 Market for Other, By Application, 2015–2025 (USD Million)
Table 12 Market for Other, By Region, 2015–2025 (USD Million)
Table 13 Comparison Between Lithium-Ion and Lead-Acid Batteries
Table 14 Market, By Battery Type, 2015–2025 (USD Million)
Table 15 Battery Energy Storage System Projects Commissioned in Central & Eastern Europe (CEE)
Table 16 Market for Lithium-Ion Batteries, By Ownership, 2015–2025 (USD Million)
Table 17 Market for Lithium-Ion Batteries, By Application, 2015–2025 (USD Million)
Table 18 Market for Lithium-Ion Batteries, By Connection Type, 2015–2025 (USD Million)
Table 19 Market for Lithium-Ion Batteries, By Region, 2015–2025 (USD Million)
Table 20 Market for Sodium–Sulfur Batteries, By Ownership, 2015–2025 (USD Million)
Table 21 Market for Sodium–Sulfur Batteries, By Application, 2015–2025 (USD Million)
Table 22 Market for Sodium–Sulfur Batteries, By Connection Type, 2015–2025 (USD Million)
Table 23 Market for Sodium–Sulfur Batteries, By Region, 2015–2025 (USD Million)
Table 24 Market for Advanced Lead-Acid Batteries, By Ownership, 2015–2025 (USD Million)
Table 25 Market for Advanced Lead-Acid Batteries, By Application, 2015–2025 (USD Million)
Table 26 Market for Advanced Lead-Acid Batteries, By Connection Type, 2015–2025 (USD Million)
Table 27 Market for Advanced Lead-Acid Batteries, By Region, 2015–2025 (USD Million)
Table 28 Market for Flow Batteries, By Ownership, 2015–2025 (USD Million)
Table 29 Market for Flow Batteries, By Application, 2015–2025 (USD Million)
Table 30 Market for Flow Batteries, By Connection Type, 2015–2025 (USD Million)
Table 31 Market for Flow Battery Type, By Region, 2015–2025 (USD Million)
Table 32 Market for Other Battery Types, By Ownership, 2015–2025 (USD Million)
Table 33 Market for Other Battery Types, By Application Type, 2015–2025 (USD Million)
Table 34 Market for Other Battery Types, By Connection Type, 2015–2025 (USD Million)
Table 35 Market for Other Battery Types, By Region, 2015–2025 (USD Million)
Table 36 Market, By Connection Type, 2015–2025 (USD Million)
Table 37 Market for On-Grid Connection, By Element, 2015–2025 (USD Million)
Table 38 Market for On-Grid Connection, By Ownership, 2015–2025 (USD Million)
Table 39 Market for On-Grid Connection, By Application, 2015–2025 (USD Million)
Table 40 Market for Off-Grid Connection, By Element, 2015–2025 (USD Million)
Table 41 Market for Off-Grid Connection, By Ownership, 2015–2025 (USD Million)
Table 42 Market for Off-Grid Connection, By Application, 2015–2025 (USD Million)
Table 43 Market, By Ownership, 2015–2025 (USD Million)
Table 44 Projects Based on Customer-Owned Battery Energy Storage Systems
Table 45 Battery Energy Storage System Market for Customer Owned, By Connection Type, 2015–2025 (USD Million)
Table 46 Market for Customer Owned, By Element, 2015–2025 (USD Million)
Table 47 Market for Third-Party Owned, By Connection Type, 2015–2025 (USD Million)
Table 48 Market for Third-Party Owned, By Element, 2015–2025 (USD Million)
Table 49 Projects Based on Utility-Owned Battery Energy Storage Systems
Table 50 Market for Utility Owned, By Connection Type, 2015–2025 (USD Million)
Table 51 Market for Utility Owned, By Element, 2015–2025 (USD Million)
Table 52 Market, By Application, 2015–2025 (USD Million)
Table 53 Market for Residential Application, By Element, 2015–2025 (USD Million)
Table 54 Market for Residential Application, By Connection Type, 2015–2025 (USD Million)
Table 55 Market for Residential Application, By Region, 2015–2025 (USD Million)
Table 56 Market for Residential Application, By North America, 2015–2025 (USD Million)
Table 57 Market for Residential Application, By Europe, 2015–2025 (USD Million)
Table 58 Market for Residential Application, By APAC, 2015–2025 (USD Million)
Table 59 Market for Residential Application, By RoW, 2015–2025 (USD Million)
Table 60 Market for Non-Residential Application, By Element, 2015–2025 (USD Million)
Table 61 Market for Non-Residential Application, By Connection Type, 2015–2025 (USD Million)
Table 62 Market for Non-Residential Application, By Region, 2015–2025 (USD Million)
Table 63 Market for Non-Residential Application, By North America, 2015–2025 (USD Million)
Table 64 Market for Non-Residential Application, By Europe, 2015–2025 (USD Million)
Table 65 Market for Non-Residential Application, By APAC, 2015–2025 (USD Million)
Table 66 Market for Non-Residential Application, By RoW, 2015–2025 (USD Million)
Table 67 Market for Utilities, By Element, 2015–2025 (USD Million)
Table 68 Market for Utilities, By Connection Type, 2015–2025 (USD Million)
Table 69 Market for Utilities, By Region, 2015–2025 (USD Million)
Table 70 Market for Utilities, By North America, 2015–2025 (USD Million)
Table 71 Market for Utilities, By Europe, 2015–2025 (USD Million)
Table 72 Market for Utilities, By APAC, 2015–2025 (USD Million)
Table 73 Market for Utilities, By RoW, 2015–2025 (USD Million)
Table 74 Market for Other Applications, By Element, 2015–2025 (USD Million)
Table 75 Market for Other Applications, By Connection Type, 2015–2025 (USD Million)
Table 76 Market for Other Applications, By Region, 2015–2025 (USD Million)
Table 77 Market for Other Applications, By North America, 2015–2025 (USD Million)
Table 78 Market for Other Applications, By Europe, 2015–2025 (USD Million)
Table 79 Market for Other Applications, By APAC, 2015–2025 (USD Million)
Table 80 Market for Other Applications, By RoW, 2015–2025 (USD Million)
Table 81 Market, By Region, 2015–2025 (USD Million)
Table 82 Market in North America, By Country, 2015–2025 (USD Million)
Table 83 Market in North America, By Element, 2015–2025 (USD Million)
Table 84 Market in North America, By Application, 2015–2025 (USD Million)
Table 85 Market for in US, By Application, 2015–2025 (USD Million)
Table 86 Market for in Canada, By Application, 2015–2025 (USD Million)
Table 87 Market for in Mexico, By Application, 2015–2025 (USD Million)
Table 88 Events for Battery Energy Storage System in US
Table 89 Market in Europe, By Country, 2015–2025 (USD Million)
Table 90 Market in Europe, By Element, 2015–2025 (USD Million)
Table 91 Market in Europe, By Application, 2015–2025 (USD Million)
Table 92 Market for in Germany, By Application, 2015–2025 (USD Million)
Table 93 Market for in France, By Application, 2015–2025 (USD Million)
Table 94 Market for in UK, By Application, 2015–2025 (USD Million)
Table 95 Market for in RoE, By Application, 2015–2025 (USD Million)
Table 96 Battery Energy Storage System-Related Events to be Held in UK in 2018
Table 97 Battery Energy Storage System Related Events Held in Germany
Table 98 Market in APAC, By Country, 2015–2025 (USD Million)
Table 99 Market in APAC, By Element, 2015–2025 (USD Million)
Table 100 Market in APAC, By Application, 2015–2025 (USD Million)
Table 101 Market for in China, By Application, 2015–2025 (USD Million)
Table 102 Market for in Japan, By Application, 2015–2025 (USD Million)
Table 103 Market for in India, By Application, 2015–2025 (USD Million)
Table 104 Market for in South Korea, By Application, 2015–2025 (USD Million)
Table 105 Market for in RoAPAC, By Application, 2015–2025 (USD Million)
Table 106 Upcoming Events Related to Battery Energy Storage System in APAC
Table 107 Upcoming Events Related to Battery Energy Storage System in RoW
Table 108 Market in RoW, By Region, 2015–2025 (USD Million)
Table 109 Market in RoW, By Element, 2015–2025 (USD Million)
Table 110 Market in RoW, By Application, 2015–2025 (USD Million)
Table 111 Market for in South America, By Application, 2015–2025 (USD Million)
Table 112 Market for in Middle East, By Application, 2015–2025 (USD Million)
Table 113 Market for in Africa, By Application, 2015–2025 (USD Million)
Table 114 Ranking of Key Players in Battery Energy Storage System Market, 2017
 
 
List of Figures (79 Figures)
 
Figure 1 Segmentation of Battery Energy Storage System Market
Figure 2 Market: Research Design
Figure 3 Market: Bottom-Up Approach
Figure 4 Market: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Assumptions for Research Study
Figure 7 Market for Residential Application to Grow at Highest CAGR During Forecast Period
Figure 8 Lithium-Ion Batteries to Hold Largest Size of Battery Energy Storage System During Forecast Period
Figure 9 Market for On-Grid Connection to Grow at a Higher CAGR During Forecast Period
Figure 10 Utility-Owned Type to Hold Largest Size of Battery Energy Storage System Market By 2025
Figure 11 Market, By Region
Figure 12 Increasing Demand for Grid Flexibility Boost Adoption of Battery Energy Storage System
Figure 13 Market for Flow Batteries to Grow at Highest CAGR Between 2018 and 2025
Figure 14 Utility-Owned Type to Hold Largest Size of Battery Energy Storage System Market in 2018
Figure 15 On-Grid Connection to Dominate Battery Energy Storage System Market During Forecast Period
Figure 16 Utilities Held Largest Share of Battery Energy Storage System Market in 2018
Figure 17 Utilities to Hold Largest Share of Battery Energy Storage System Market in APAC in 2018
Figure 18 US to Hold Held Largest Share of Battery Energy Storage System Market in 2018
Figure 19 Demand From Grid Connected Solutions Drives Growth of Battery Energy Storage System Market
Figure 20 Battery Energy Storage Systems: Maximum Value Added During Manufacturing Stage
Figure 21 Functions of Battery Management System (BMS)
Figure 22 Battery to Hold Largest Size of Market By 2025
Figure 23 Layout of Battery Energy Storage System
Figure 24 On-Grid Connection to Hold Largest Size of Market for Hardware By 2025
Figure 25 On-Grid Connection to Hold Largest Size of Market for Other By 2025
Figure 26 Market, By Battery Type
Figure 27 Lithium-Ion Batteries to Hold Largest Size of Market By 2025
Figure 28 Market for Customer Owned Battery Energy Storage System to Grow at Highest CAGR Between 2018 and 2025
Figure 29 North America to Hold Largest Size of Market for Lithium-Ion Batteries By 2025
Figure 30 Comparison of Sodium–Sulfur Batteries With Other Batteries
Figure 31 On-Grid Connection to Hold Larger Size of Market for Sodium–Sulfur Batteries By 2025
Figure 32 Utility-Owned Battery Energy Storage System to Hold Largest Size of Market for Advanced Lead-Acid Batteries By 2025
Figure 33 Market for Advanced Lead-Acid Batteries in APAC to Grow at Highest CAGR During Forecast Period
Figure 34 Flow Battery Based Battery Energy Storage System Market for On-Grid Connection to Grow at Higher CAGR During Forecast Period
Figure 35 Utilities to Dominate Market for Other Battery Types During Forecast Period
Figure 36 Importance of Battery Energy Storage System in Grid Connection
Figure 37 Applications of Battery Energy Storage System on Grid
Figure 38 Market for On-Grid Connection to Grow at Higher CAGR During Forecast Period
Figure 39 On-Grid Connection
Figure 40 Battery to Hold Largest Size of Battery Energy Storage System Market for On-Grid Connection During Forecast Period
Figure 41 On-Grid Battery Energy Storage System Market for Customer Owned to Grow at Highest CAGR During Forecast Period
Figure 42 On-Grid Battery Energy Storage System Market for Residential Application to Grow at Highest CAGR During Forecast Period
Figure 43 Basic Off-Grid System
Figure 44 Utility-Owned Battery Energy Storage System to Dominate Market for Off-Grid Connection Between 2018 and 2025
Figure 45 Market, By Ownership
Figure 46 Utility-Owned Battery Energy Storage Systems to Hold Largest Size of Market By 2025
Figure 47 Layout of Battery Energy Storage System Installation in Residential Area
Figure 48 On-Grid Connection to Hold Largest Size of Market for Customer-Owned Battery Energy Storage Systems By 2025
Figure 49 On-Grid Connection to Hold Larger Size of Third-Party-Owned Battery Energy Storage System Market By 2025
Figure 50 Number of Projects By RTO/ISO and Type of Ownership, 2015
Figure 51 Battery Element to Hold Larger Size of Utility-Owned Battery Energy Storage System Market By 2025
Figure 52 Market, By Application
Figure 53 Market for Residential Application to Grow at Highest CAGR During Forecast Period
Figure 54 Tesla Powerwall Installed for Residential Application
Figure 55 On-Grid Connection to Hold Larger Size of Market By 2025
Figure 56 Battery Market for Non-Residential Application to Grow at Highest CAGR During Forecast Period
Figure 57 Market for Utilities for Battery to Grow at Highest CAGR During Forecast Period
Figure 58 Market for Other Applications for Battery to Grow at Highest CAGR Between 2018 and 2025
Figure 59 Market, By Geography
Figure 60 Geographic Snapshot of Market
Figure 61 North America to Hold Largest Size of Market During Forecast Period
Figure 62 North America: Market Snapshot
Figure 63 Battery to Hold Largest Size of North American Battery Energy Storage Market During Forecast Period
Figure 64 Europe: Market Snapshot
Figure 65 Market in Europe for Residential Application to Grow at Highest CAGR During Forecast Period
Figure 66 APAC: Market Snapshot
Figure 67 Market in China to Grow at Highest CAGR During Forecast Period
Figure 68 South America to Dominate Market in RoW During Forecast Period
Figure 69 Agreements, Contracts, Collaborations, and Partnerships as Key Growth Strategies Adopted By Companies Between 2015 and 2017
Figure 70 ABB: Company Snapshot
Figure 71 LG Chem : Company Snapshot
Figure 72 NEC: Company Snapshot
Figure 73 Panasonic: Company Snapshot
Figure 74 Samsung SDI: Company Snapshot
Figure 75 AEG Power Solutions: Company Snapshot
Figure 76 General Electric: Company Snapshot
Figure 77 Hitachi: Company Snapshot
Figure 78 Siemens AG: Company Snapshot
Figure 79 Tesla: Company Snapshot


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