This research study involves the use of extensive secondary sources, directories, and databases, such as Hoovers, Bloomberg L.P., Factiva, ICIS, and OneSource, to identify and collect information useful for this technical, market-oriented, and commercial study of the global long duration energy storage market. Primary sources are mainly industry experts from core and related industries, preferred suppliers, manufacturers, distributors, service providers, and organizations related to all segments of the value chain of this industry. In-depth interviews were conducted with various primary respondents, including key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information as well as assess growth prospects of the market.
Secondary Research
The secondary sources for this research study include annual reports, press releases, investor presentations of companies, white papers, certified publications, articles by recognized authors, and databases of various companies and associations. Secondary research was mainly used to obtain key information about the supply chain and identify the key players offering long duration energy storage, market classification, and segmentation according to the offerings of the leading players, along with the industry trends to the bottom-most level, regional markets, and key developments from both, market- and technology oriented perspectives.
Primary Research
In the primary research process, various sources from the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. Primary sources from the supply side include industry experts such as chief executive officers (CEOs), vice presidents (VPs), marketing directors, and related key executives from various companies and organizations operating in the long duration energy storage market.
In the complete market engineering process, the top-down and bottom-up approaches and several data triangulation methods were extensively used to perform the market size estimations and forecasts for all segments and subsegments listed in this report. Extensive qualitative and quantitative analyses were conducted to complete the market engineering process and list key information/insights throughout the report.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the size of the long duration energy storage market and its dependent submarkets. The key players in the market were identified through secondary research, and their market share in the respective regions was obtained through primary and secondary research. The research methodology includes the study of the annual and financial reports of top market players and interviews with industry experts, such as chief executive officers, vice presidents, directors, sales managers, and marketing executives, for key quantitative and qualitative insights related to the long duration energy storage market.
Long Duration Energy Storage Market : Top-Down and Bottom-Up Approach
Data Triangulation
After arriving at the overall market size from the estimation process explained above, the total market has been split into several segments and sub-segments. Data triangulation and market breakdown procedures have been used wherever applicable to complete the overall market engineering process and to arrive at the exact statistics for all segments and sub-segments. The data has been triangulated by studying various factors and trends from both the demand and supply sides. The market has been validated using both the top-down and bottom-up approaches. Then, it was verified through primary interviews. Hence, for every data segment, there are three sources—the top-down approach, the bottom-up approach, and expert interviews. When the values arrived at from the three points matched, the data was assumed to be correct.
Market Definition
Long Duration Energy Storage (LDES) refers to energy storage systems capable of storing energy for extended periods, typically over 10 hours. This technology is essential for managing the intermittency of renewable energy sources like solar and wind, allowing for the storage of excess energy generated during peak production times for later use. LDES enhances grid reliability and flexibility, supporting clean energy goals and reducing reliance on fossil fuels. Initiatives from the U.S. Department of Energy aim to significantly reduce LDES costs and promote its development through funding and demonstration projects.
The LDES market is rapidly evolving, driven by government initiatives and private sector investments, with a focus on various technologies such as electrochemical, thermal, and chemical storage. The market for long duration energy storage is defined as the sum of revenues generated by global companies through the sales of their long duration energy storage systems.
Stakeholders
-
Long duration energy storage manufacturers
-
State and national regulatory authorities
-
Organizations, forums, alliances, and associations
-
Investors/Shareholders
-
Manufacturers’ associations
-
Long duration energy storage raw material and component manufacturers
-
Long duration energy storage manufacturers, dealers, and suppliers
-
Electrical equipment manufacturers’ associations and groups
-
Power utilities and other end-user companies
-
Consulting companies in the energy and power domain
Report Objectives
-
To define, describe, segment, and forecast the long duration energy storage market by technology, by duration, capacity, application, end user, and region, in terms of value.
-
To forecast the market sizes for four major regions, namely, North America, Europe, Asia Pacific, South America, and Middle East & Africa, along with their key countries.
-
To forecast the long duration energy storage market by region and technology, in terms of volume.
-
To provide detailed information regarding key drivers, restraints, opportunities, and challenges influencing the growth of the market
-
To strategically analyze the micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market size
-
To provide the supply chain analysis, trends/disruptions impacting customers’ businesses, market map, ecosystem analysis, tariffs and regulations, pricing analysis, patent analysis, case study analysis, technology analysis, key conferences and events, trade analysis, Porter’s five forces analysis, key stakeholders and buying criteria, and regulatory analysis of the long duration energy storage market
-
To analyze opportunities for stakeholders in the long duration energy storage market and draw a competitive landscape of the market
-
To benchmark market players using the company evaluation matrix, which analyzes market players on broad categories of business and product strategies adopted by them
-
To compare key market players for the market share, product specifications, and applications.
-
To strategically profile key players and comprehensively analyze their market ranking and core competencies.
-
To analyze competitive developments, such as contracts & agreements, investments & expansions, mergers & acquisitions, new product launches, partnerships, joint ventures & collaborations, in the long duration energy storage market.
Note: 1. Micromarkets are defined as the further segments and subsegments of the long duration energy storage market included in the report.
2. Core competencies of companies are captured in terms of their key developments and product portfolios, as well as key strategies adopted to sustain their position in the long duration energy storage market.
Available Customizations
MarketsandMarkets offers customizations according to the specific needs of the companies with the given market data.
The following customization options are available for the report:
Product Analysis
-
Product matrix, which gives a detailed comparison of the product portfolio of each company
Geographic Analysis as per Feasibility
-
Further breakdown of the long duration energy storage market, by country
Company Information
-
Detailed analysis and profiling of additional market players (up to five)
HIGHEST CAGR MARKET IN 2024-2030
US FASTEST GROWING MARKET IN THE REGION
Growth opportunities and latent adjacency in Long Duration Energy Storage Market