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Battery Energy Storage for Renewables-Global Market Insights and Sales Trends 2024

Battery Energy Storage for Renewables-Global Market Insights and Sales Trends 2024

Publishing Date : Dec, 2023

License Type :
 

Report Code : 1855268

No of Pages : 92

Synopsis
Energy storage capabilities are crucial for the integration of high levels variable renewable sources, such as solar and wind energy, onto the power grid. This report shows that battery storage technologies for renewable energy are already cost-competitive for island and rural applications. Furthermore, the market for battery storage systems coupled with rooftop solar panels has started growing rapidly.
The global Battery Energy Storage for Renewables market size is expected to reach US$ 8495.9 million by 2029, growing at a CAGR of 3.3% from 2023 to 2029. The market is mainly driven by the significant applications of Battery Energy Storage for Renewables in various end use industries. The expanding demands from the Laptops, Smartphones, Notebooks and Tablets, are propelling Battery Energy Storage for Renewables market. Li-Ion, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Lead-Acid segment is estimated at % CAGR for the next seven-year period.
In February 2023, the Standardization Administration of China and the National Energy Administration issued the Guidelines on the Construction of New Energy Storage Standard System, which included 205 new energy storage standards. In the 14th Five-Year Plan and the 2035 Vision Target Outline, the energy storage industry, energy storage capacity, energy storage projects have been made requirements. In 2021, China issued the Guiding Opinions on Accelerating the Development of New Energy Storage, which specified a clear path for the development of energy storage industry. According to the data of CEC, the cumulative installed capacity of electrochemical energy storage power stations that put into operation was mainly distributed in the power side, and the total energy is 6.80 GWh, which accounted for 48.40% by the end of 2022.
According to CNESA, by the end of 2022, the cumulative installed capacity of power energy storage projects which has put into operation in the world was 237.2GW, with an annual growth rate of 15%. The cumulative installed capacity of new energy storage reached 45.7GW, which has nearly twice of the same period last year, with an annual growth rate of 80%. The lithium-ion battery occupied an absolute dominant position, with an annual growth rate of more than 85%. The global energy storage market developed rapidly, and the installed capacity of new power energy storage projects is 30.7GW, with a year-on-year growth of 98%. China, Europe and the United States continued to lead the development of the global energy storage market, collectively accounting for 86% of the global market.
According to CNESA statistics, by the end of 2022, the total installed capacity of power energy storage projects put into operation in China was 59.8GW, accounting for 25% of the total global market scale, with an annual growth rate of 38%. The cumulative installed capacity of new energy storage exceeded 10GW for the first time, reaching 13.1GW / 27.1, GWh. And the annual growth rate of power scale reached 128%, while the annual growth rate of energy scale reached 141%. The installed capacity of newly added power energy storage projects in China reached 16.5GW for the first time, among which the new capacity of pumped storage was 9.1GW. Among the new energy storage, lithium-ion battery occupied an absolute dominant position, accounting for 126%.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Battery Energy Storage for Renewables, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Battery Energy Storage for Renewables market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Battery Energy Storage for Renewables market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Battery Energy Storage for Renewables sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Battery Energy Storage for Renewables covered in this report include AES Energy Storage, A123 Systems, Axion Power, BYD, LG Chem, NGK Insulators, SAFT and Samsung SDI, etc.
The global Battery Energy Storage for Renewables market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
AES Energy Storage
A123 Systems
Axion Power
BYD
LG Chem
NGK Insulators
SAFT
Samsung SDI
Global Battery Energy Storage for Renewables market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Battery Energy Storage for Renewables market, Segment by Type:
Li-Ion
Lead-Acid
Sodium
Others
Global Battery Energy Storage for Renewables market, by Application
Laptops
Smartphones
Notebooks
Tablets
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Battery Energy Storage for Renewables manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Battery Energy Storage for Renewables in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
Index
1 Battery Energy Storage for Renewables Market Overview
1.1 Battery Energy Storage for Renewables Product Overview
1.2 Battery Energy Storage for Renewables Market Segment by Type
1.2.1 Li-Ion
1.2.2 Lead-Acid
1.2.3 Sodium
1.2.4 Others
1.3 Global Battery Energy Storage for Renewables Market Size by Type
1.3.1 Global Battery Energy Storage for Renewables Market Size Overview by Type (2018-2029)
1.3.2 Global Battery Energy Storage for Renewables Historic Market Size Review by Type (2018-2023)
1.3.3 Global Battery Energy Storage for Renewables Forecasted Market Size by Type (2024-2029)
1.4 Key Regions Market Size Segment by Type
1.4.1 North America Battery Energy Storage for Renewables Sales Breakdown by Type (2018-2023)
1.4.2 Europe Battery Energy Storage for Renewables Sales Breakdown by Type (2018-2023)
1.4.3 Asia-Pacific Battery Energy Storage for Renewables Sales Breakdown by Type (2018-2023)
1.4.4 Latin America Battery Energy Storage for Renewables Sales Breakdown by Type (2018-2023)
1.4.5 Middle East and Africa Battery Energy Storage for Renewables Sales Breakdown by Type (2018-2023)
2 Global Battery Energy Storage for Renewables Market Competition by Company
2.1 Global Top Players by Battery Energy Storage for Renewables Sales (2018-2023)
2.2 Global Top Players by Battery Energy Storage for Renewables Revenue (2018-2023)
2.3 Global Top Players by Battery Energy Storage for Renewables Price (2018-2023)
2.4 Global Top Manufacturers Battery Energy Storage for Renewables Manufacturing Base Distribution, Sales Area, Product Type
2.5 Battery Energy Storage for Renewables Market Competitive Situation and Trends
2.5.1 Battery Energy Storage for Renewables Market Concentration Rate (2018-2023)
2.5.2 Global 5 and 10 Largest Manufacturers by Battery Energy Storage for Renewables Sales and Revenue in 2022
2.6 Global Top Manufacturers by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in Battery Energy Storage for Renewables as of 2022)
2.7 Date of Key Manufacturers Enter into Battery Energy Storage for Renewables Market
2.8 Key Manufacturers Battery Energy Storage for Renewables Product Offered
2.9 Mergers & Acquisitions, Expansion
3 Battery Energy Storage for Renewables Status and Outlook by Region
3.1 Global Battery Energy Storage for Renewables Market Size and CAGR by Region: 2018 VS 2022 VS 2029
3.2 Global Battery Energy Storage for Renewables Historic Market Size by Region
3.2.1 Global Battery Energy Storage for Renewables Sales in Volume by Region (2018-2023)
3.2.2 Global Battery Energy Storage for Renewables Sales in Value by Region (2018-2023)
3.2.3 Global Battery Energy Storage for Renewables Sales (Volume & Value) Price and Gross Margin (2018-2023)
3.3 Global Battery Energy Storage for Renewables Forecasted Market Size by Region
3.3.1 Global Battery Energy Storage for Renewables Sales in Volume by Region (2024-2029)
3.3.2 Global Battery Energy Storage for Renewables Sales in Value by Region (2024-2029)
3.3.3 Global Battery Energy Storage for Renewables Sales (Volume & Value), Price and Gross Margin (2024-2029)
4 Global Battery Energy Storage for Renewables by Application
4.1 Battery Energy Storage for Renewables Market Segment by Application
4.1.1 Laptops
4.1.2 Smartphones
4.1.3 Notebooks
4.1.4 Tablets
4.2 Global Battery Energy Storage for Renewables Market Size by Application
4.2.1 Global Battery Energy Storage for Renewables Market Size Overview by Application (2018-2029)
4.2.2 Global Battery Energy Storage for Renewables Historic Market Size Review by Application (2018-2023)
4.2.3 Global Battery Energy Storage for Renewables Forecasted Market Size by Application (2024-2029)
4.3 Key Regions Market Size Segment by Application
4.3.1 North America Battery Energy Storage for Renewables Sales Breakdown by Application (2018-2023)
4.3.2 Europe Battery Energy Storage for Renewables Sales Breakdown by Application (2018-2023)
4.3.3 Asia-Pacific Battery Energy Storage for Renewables Sales Breakdown by Application (2018-2023)
4.3.4 Latin America Battery Energy Storage for Renewables Sales Breakdown by Application (2018-2023)
4.3.5 Middle East and Africa Battery Energy Storage for Renewables Sales Breakdown by Application (2018-2023)
5 North America Battery Energy Storage for Renewables by Country
5.1 North America Battery Energy Storage for Renewables Historic Market Size by Country
5.1.1 North America Battery Energy Storage for Renewables Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
5.1.2 North America Battery Energy Storage for Renewables Sales in Volume by Country (2018-2023)
5.1.3 North America Battery Energy Storage for Renewables Sales in Value by Country (2018-2023)
5.2 North America Battery Energy Storage for Renewables Forecasted Market Size by Country
5.2.1 North America Battery Energy Storage for Renewables Sales in Volume by Country (2024-2029)
5.2.2 North America Battery Energy Storage for Renewables Sales in Value by Country (2024-2029)
6 Europe Battery Energy Storage for Renewables by Country
6.1 Europe Battery Energy Storage for Renewables Historic Market Size by Country
6.1.1 Europe Battery Energy Storage for Renewables Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
6.1.2 Europe Battery Energy Storage for Renewables Sales in Volume by Country (2018-2023)
6.1.3 Europe Battery Energy Storage for Renewables Sales in Value by Country (2018-2023)
6.2 Europe Battery Energy Storage for Renewables Forecasted Market Size by Country
6.2.1 Europe Battery Energy Storage for Renewables Sales in Volume by Country (2024-2029)
6.2.2 Europe Battery Energy Storage for Renewables Sales in Value by Country (2024-2029)
7 Asia-Pacific Battery Energy Storage for Renewables by Region
7.1 Asia-Pacific Battery Energy Storage for Renewables Historic Market Size by Region
7.1.1 Asia-Pacific Battery Energy Storage for Renewables Market Size Growth Rate (CAGR) by Region: 2018 VS 2022 VS 2029
7.1.2 Asia-Pacific Battery Energy Storage for Renewables Sales in Volume by Region (2018-2023)
7.1.3 Asia-Pacific Battery Energy Storage for Renewables Sales in Value by Region (2018-2023)
7.2 Asia-Pacific Battery Energy Storage for Renewables Forecasted Market Size by Region
7.2.1 Asia-Pacific Battery Energy Storage for Renewables Sales in Volume by Region (2024-2029)
7.2.2 Asia-Pacific Battery Energy Storage for Renewables Sales in Value by Region (2024-2029)
8 Latin America Battery Energy Storage for Renewables by Country
8.1 Latin America Battery Energy Storage for Renewables Historic Market Size by Country
8.1.1 Latin America Battery Energy Storage for Renewables Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
8.1.2 Latin America Battery Energy Storage for Renewables Sales in Volume by Country (2018-2023)
8.1.3 Latin America Battery Energy Storage for Renewables Sales in Value by Country (2018-2023)
8.2 Latin America Battery Energy Storage for Renewables Forecasted Market Size by Country
8.2.1 Latin America Battery Energy Storage for Renewables Sales in Volume by Country (2024-2029)
8.2.2 Latin America Battery Energy Storage for Renewables Sales in Value by Country (2024-2029)
9 Middle East and Africa Battery Energy Storage for Renewables by Country
9.1 Middle East and Africa Battery Energy Storage for Renewables Historic Market Size by Country
9.1.1 Middle East and Africa Battery Energy Storage for Renewables Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
9.1.2 Middle East and Africa Battery Energy Storage for Renewables Sales in Volume by Country (2018-2023)
9.1.3 Middle East and Africa Battery Energy Storage for Renewables Sales in Value by Country (2018-2023)
9.2 Middle East and Africa Battery Energy Storage for Renewables Forecasted Market Size by Country
9.2.1 Middle East and Africa Battery Energy Storage for Renewables Sales in Volume by Country (2024-2029)
9.2.2 Middle East and Africa Battery Energy Storage for Renewables Sales in Value by Country (2024-2029)
10 Company Profiles
10.1 AES Energy Storage
10.1.1 AES Energy Storage Company Information
10.1.2 AES Energy Storage Introduction and Business Overview
10.1.3 AES Energy Storage Battery Energy Storage for Renewables Sales, Revenue and Gross Margin (2018-2023)
10.1.4 AES Energy Storage Battery Energy Storage for Renewables Products Offered
10.1.5 AES Energy Storage Recent Development
10.2 A123 Systems
10.2.1 A123 Systems Company Information
10.2.2 A123 Systems Introduction and Business Overview
10.2.3 A123 Systems Battery Energy Storage for Renewables Sales, Revenue and Gross Margin (2018-2023)
10.2.4 A123 Systems Battery Energy Storage for Renewables Products Offered
10.2.5 A123 Systems Recent Development
10.3 Axion Power
10.3.1 Axion Power Company Information
10.3.2 Axion Power Introduction and Business Overview
10.3.3 Axion Power Battery Energy Storage for Renewables Sales, Revenue and Gross Margin (2018-2023)
10.3.4 Axion Power Battery Energy Storage for Renewables Products Offered
10.3.5 Axion Power Recent Development
10.4 BYD
10.4.1 BYD Company Information
10.4.2 BYD Introduction and Business Overview
10.4.3 BYD Battery Energy Storage for Renewables Sales, Revenue and Gross Margin (2018-2023)
10.4.4 BYD Battery Energy Storage for Renewables Products Offered
10.4.5 BYD Recent Development
10.5 LG Chem
10.5.1 LG Chem Company Information
10.5.2 LG Chem Introduction and Business Overview
10.5.3 LG Chem Battery Energy Storage for Renewables Sales, Revenue and Gross Margin (2018-2023)
10.5.4 LG Chem Battery Energy Storage for Renewables Products Offered
10.5.5 LG Chem Recent Development
10.6 NGK Insulators
10.6.1 NGK Insulators Company Information
10.6.2 NGK Insulators Introduction and Business Overview
10.6.3 NGK Insulators Battery Energy Storage for Renewables Sales, Revenue and Gross Margin (2018-2023)
10.6.4 NGK Insulators Battery Energy Storage for Renewables Products Offered
10.6.5 NGK Insulators Recent Development
10.7 SAFT
10.7.1 SAFT Company Information
10.7.2 SAFT Introduction and Business Overview
10.7.3 SAFT Battery Energy Storage for Renewables Sales, Revenue and Gross Margin (2018-2023)
10.7.4 SAFT Battery Energy Storage for Renewables Products Offered
10.7.5 SAFT Recent Development
10.8 Samsung SDI
10.8.1 Samsung SDI Company Information
10.8.2 Samsung SDI Introduction and Business Overview
10.8.3 Samsung SDI Battery Energy Storage for Renewables Sales, Revenue and Gross Margin (2018-2023)
10.8.4 Samsung SDI Battery Energy Storage for Renewables Products Offered
10.8.5 Samsung SDI Recent Development
11 Upstream, Opportunities, Challenges, Risks and Influences Factors Analysis
11.1 Battery Energy Storage for Renewables Key Raw Materials
11.1.1 Key Raw Materials
11.1.2 Key Raw Materials Price
11.1.3 Raw Materials Key Suppliers
11.2 Manufacturing Cost Structure
11.2.1 Raw Materials
11.2.2 Labor Cost
11.2.3 Manufacturing Expenses
11.3 Battery Energy Storage for Renewables Industrial Chain Analysis
11.4 Battery Energy Storage for Renewables Market Dynamics
11.4.1 Battery Energy Storage for Renewables Industry Trends
11.4.2 Battery Energy Storage for Renewables Market Drivers
11.4.3 Battery Energy Storage for Renewables Market Challenges
11.4.4 Battery Energy Storage for Renewables Market Restraints
12 Market Strategy Analysis, Distributors
12.1 Sales Channel
12.2 Battery Energy Storage for Renewables Distributors
12.3 Battery Energy Storage for Renewables Downstream Customers
13 Research Findings and Conclusion
14 Appendix
14.1 Research Methodology
14.1.1 Methodology/Research Approach
14.1.2 Data Source
14.2 Author Details
14.3 Disclaimer

Published By : QY Research

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