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Energy Storage-Global Market Insights and Sales Trends 2024
Synopsis
The report analyzes energy storage service market.
The global Energy Storage market size is expected to reach US$ 12960 million by 2029, growing at a CAGR of 12.0% from 2023 to 2029. The market is mainly driven by the significant applications of Energy Storage in various end use industries. The expanding demands from the Residential, Commercial and Utility,, are propelling Energy Storage market. Lithium Ion Technology, 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 Technology 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 112%.
Report Objectives
This report provides market insight on the different segments, by players, 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 Energy Storage, 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 Energy Storage 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 Energy Storage market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Energy Storage 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 Energy Storage covered in this report include Duke Energy, E.ON, East Penn Manufacturing, EDF Renewable Energy, Fluence Energy, GE Power, Invenergy, LG Chem and Tesla, etc.
The global Energy Storage market report caters to various stakeholders in this industry including investors, suppliers, product players, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Duke Energy
E.ON
East Penn Manufacturing
EDF Renewable Energy
Fluence Energy
GE Power
Invenergy
LG Chem
Tesla
ABB
Johnson Controls
SolarEdge
EnerVault
Global Energy Storage 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 Energy Storage market, Segment by Type:
Lithium Ion Technology
Lead Acid Technology
Sodium Chemistry Technology
Flow Vanadium Technology
Flow Zinc Technology
Others
Global Energy Storage market, by Application
Residential
Commercial
Utility
Core Chapters
Chapter One: Introduces the report scope of the report, executive summary of global and regional market size and CAGR for the history and forecast period (2018-2023, 2024-2029). It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter Two: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter Three: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter Four: Detailed analysis of Energy Storage companies’ competitive landscape, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Five: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product introduction, revenue, recent development, etc.
Chapter Six, Seven, Eight, Nine and Ten: North America, Europe, Asia Pacific, Latin America, Middle East & Africa, revenue by country.
Chapter Eleven: this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Research Finding/Conclusion
The report analyzes energy storage service market.
The global Energy Storage market size is expected to reach US$ 12960 million by 2029, growing at a CAGR of 12.0% from 2023 to 2029. The market is mainly driven by the significant applications of Energy Storage in various end use industries. The expanding demands from the Residential, Commercial and Utility,, are propelling Energy Storage market. Lithium Ion Technology, 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 Technology 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 112%.
Report Objectives
This report provides market insight on the different segments, by players, 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 Energy Storage, 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 Energy Storage 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 Energy Storage market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Energy Storage 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 Energy Storage covered in this report include Duke Energy, E.ON, East Penn Manufacturing, EDF Renewable Energy, Fluence Energy, GE Power, Invenergy, LG Chem and Tesla, etc.
The global Energy Storage market report caters to various stakeholders in this industry including investors, suppliers, product players, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Duke Energy
E.ON
East Penn Manufacturing
EDF Renewable Energy
Fluence Energy
GE Power
Invenergy
LG Chem
Tesla
ABB
Johnson Controls
SolarEdge
EnerVault
Global Energy Storage 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 Energy Storage market, Segment by Type:
Lithium Ion Technology
Lead Acid Technology
Sodium Chemistry Technology
Flow Vanadium Technology
Flow Zinc Technology
Others
Global Energy Storage market, by Application
Residential
Commercial
Utility
Core Chapters
Chapter One: Introduces the report scope of the report, executive summary of global and regional market size and CAGR for the history and forecast period (2018-2023, 2024-2029). It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter Two: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter Three: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter Four: Detailed analysis of Energy Storage companies’ competitive landscape, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Five: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product introduction, revenue, recent development, etc.
Chapter Six, Seven, Eight, Nine and Ten: North America, Europe, Asia Pacific, Latin America, Middle East & Africa, revenue by country.
Chapter Eleven: this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Research Finding/Conclusion
Index1 Market Overview of Energy Storage
1.1 Energy Storage Market Overview
1.1.1 Energy Storage Product Scope
1.1.2 Energy Storage Market Status and Outlook
1.2 Global Energy Storage Market Size Overview by Region 2018 VS 2022 VS 2029
1.3 Global Energy Storage Market Size by Region (2018-2029)
1.4 Global Energy Storage Historic Market Size by Region (2018-2023)
1.5 Global Energy Storage Market Size Forecast by Region (2024-2029)
1.6 Key Regions, Energy Storage Market Size (2018-2029)
1.6.1 North America Energy Storage Market Size (2018-2029)
1.6.2 Europe Energy Storage Market Size (2018-2029)
1.6.3 Asia-Pacific Energy Storage Market Size (2018-2029)
1.6.4 Latin America Energy Storage Market Size (2018-2029)
1.6.5 Middle East & Africa Energy Storage Market Size (2018-2029)
2 Energy Storage Market by Type
2.1 Introduction
2.1.1 Lithium Ion Technology
2.1.2 Lead Acid Technology
2.1.3 Sodium Chemistry Technology
2.1.4 Flow Vanadium Technology
2.1.5 Flow Zinc Technology
2.1.6 Others
2.2 Global Energy Storage Market Size by Type: 2018 VS 2022 VS 2029
2.2.1 Global Energy Storage Historic Market Size by Type (2018-2023)
2.2.2 Global Energy Storage Forecasted Market Size by Type (2024-2029)
2.3 Key Regions Market Size by Type
2.3.1 North America Energy Storage Revenue Breakdown by Type (2018-2029)
2.3.2 Europe Energy Storage Revenue Breakdown by Type (2018-2029)
2.3.3 Asia-Pacific Energy Storage Revenue Breakdown by Type (2018-2029)
2.3.4 Latin America Energy Storage Revenue Breakdown by Type (2018-2029)
2.3.5 Middle East and Africa Energy Storage Revenue Breakdown by Type (2018-2029)
3 Energy Storage Market Overview by Application
3.1 Introduction
3.1.1 Residential
3.1.2 Commercial
3.1.3 Utility
3.2 Global Energy Storage Market Size by Application: 2018 VS 2022 VS 2029
3.2.1 Global Energy Storage Historic Market Size by Application (2018-2023)
3.2.2 Global Energy Storage Forecasted Market Size by Application (2024-2029)
3.3 Key Regions Market Size by Application
3.3.1 North America Energy Storage Revenue Breakdown by Application (2018-2029)
3.3.2 Europe Energy Storage Revenue Breakdown by Application (2018-2029)
3.3.3 Asia-Pacific Energy Storage Revenue Breakdown by Application (2018-2029)
3.3.4 Latin America Energy Storage Revenue Breakdown by Application (2018-2029)
3.3.5 Middle East and Africa Energy Storage Revenue Breakdown by Application (2018-2029)
4 Energy Storage Competition Analysis by Players
4.1 Global Energy Storage Market Size by Players (2018-2023)
4.2 Global Top Players by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in Energy Storage as of 2022)
4.3 Date of Key Players Enter into Energy Storage Market
4.4 Global Top Players Energy Storage Headquarters and Area Served
4.5 Key Players Energy Storage Product Solution and Service
4.6 Competitive Status
4.6.1 Energy Storage Market Concentration Rate
4.6.2 Mergers & Acquisitions, Expansion Plans
5 Company (Top Players) Profiles
5.1 Duke Energy
5.1.1 Duke Energy Profile
5.1.2 Duke Energy Main Business
5.1.3 Duke Energy Energy Storage Products, Services and Solutions
5.1.4 Duke Energy Energy Storage Revenue (US$ Million) & (2018-2023)
5.1.5 Duke Energy Recent Developments
5.2 E.ON
5.2.1 E.ON Profile
5.2.2 E.ON Main Business
5.2.3 E.ON Energy Storage Products, Services and Solutions
5.2.4 E.ON Energy Storage Revenue (US$ Million) & (2018-2023)
5.2.5 E.ON Recent Developments
5.3 East Penn Manufacturing
5.3.1 East Penn Manufacturing Profile
5.3.2 East Penn Manufacturing Main Business
5.3.3 East Penn Manufacturing Energy Storage Products, Services and Solutions
5.3.4 East Penn Manufacturing Energy Storage Revenue (US$ Million) & (2018-2023)
5.3.5 EDF Renewable Energy Recent Developments
5.4 EDF Renewable Energy
5.4.1 EDF Renewable Energy Profile
5.4.2 EDF Renewable Energy Main Business
5.4.3 EDF Renewable Energy Energy Storage Products, Services and Solutions
5.4.4 EDF Renewable Energy Energy Storage Revenue (US$ Million) & (2018-2023)
5.4.5 EDF Renewable Energy Recent Developments
5.5 Fluence Energy
5.5.1 Fluence Energy Profile
5.5.2 Fluence Energy Main Business
5.5.3 Fluence Energy Energy Storage Products, Services and Solutions
5.5.4 Fluence Energy Energy Storage Revenue (US$ Million) & (2018-2023)
5.5.5 Fluence Energy Recent Developments
5.6 GE Power
5.6.1 GE Power Profile
5.6.2 GE Power Main Business
5.6.3 GE Power Energy Storage Products, Services and Solutions
5.6.4 GE Power Energy Storage Revenue (US$ Million) & (2018-2023)
5.6.5 GE Power Recent Developments
5.7 Invenergy
5.7.1 Invenergy Profile
5.7.2 Invenergy Main Business
5.7.3 Invenergy Energy Storage Products, Services and Solutions
5.7.4 Invenergy Energy Storage Revenue (US$ Million) & (2018-2023)
5.7.5 Invenergy Recent Developments
5.8 LG Chem
5.8.1 LG Chem Profile
5.8.2 LG Chem Main Business
5.8.3 LG Chem Energy Storage Products, Services and Solutions
5.8.4 LG Chem Energy Storage Revenue (US$ Million) & (2018-2023)
5.8.5 LG Chem Recent Developments
5.9 Tesla
5.9.1 Tesla Profile
5.9.2 Tesla Main Business
5.9.3 Tesla Energy Storage Products, Services and Solutions
5.9.4 Tesla Energy Storage Revenue (US$ Million) & (2018-2023)
5.9.5 Tesla Recent Developments
5.10 ABB
5.10.1 ABB Profile
5.10.2 ABB Main Business
5.10.3 ABB Energy Storage Products, Services and Solutions
5.10.4 ABB Energy Storage Revenue (US$ Million) & (2018-2023)
5.10.5 ABB Recent Developments
5.11 Johnson Controls
5.11.1 Johnson Controls Profile
5.11.2 Johnson Controls Main Business
5.11.3 Johnson Controls Energy Storage Products, Services and Solutions
5.11.4 Johnson Controls Energy Storage Revenue (US$ Million) & (2018-2023)
5.11.5 Johnson Controls Recent Developments
5.12 SolarEdge
5.12.1 SolarEdge Profile
5.12.2 SolarEdge Main Business
5.12.3 SolarEdge Energy Storage Products, Services and Solutions
5.12.4 SolarEdge Energy Storage Revenue (US$ Million) & (2018-2023)
5.12.5 SolarEdge Recent Developments
5.13 EnerVault
5.13.1 EnerVault Profile
5.13.2 EnerVault Main Business
5.13.3 EnerVault Energy Storage Products, Services and Solutions
5.13.4 EnerVault Energy Storage Revenue (US$ Million) & (2018-2023)
5.13.5 EnerVault Recent Developments
6 North America
6.1 North America Energy Storage Market Size by Country (2018-2029)
6.2 United States
6.3 Canada
7 Europe
7.1 Europe Energy Storage Market Size by Country (2018-2029)
7.2 Germany
7.3 France
7.4 U.K.
7.5 Italy
7.6 Russia
7.7 Nordic Countries
7.8 Rest of Europe
8 Asia-Pacific
8.1 Asia-Pacific Energy Storage Market Size by Region (2018-2029)
8.2 China
8.3 Japan
8.4 South Korea
8.5 Southeast Asia
8.6 India
8.7 Australia
8.8 Rest of Asia-Pacific
9 Latin America
9.1 Latin America Energy Storage Market Size by Country (2018-2029)
9.2 Mexico
9.3 Brazil
9.4 Rest of Latin America
10 Middle East & Africa
10.1 Middle East & Africa Energy Storage Market Size by Country (2018-2029)
10.2 Turkey
10.3 Saudi Arabia
10.4 UAE
10.5 Rest of Middle East & Africa
11 Energy Storage Market Dynamics
11.1 Energy Storage Industry Trends
11.2 Energy Storage Market Drivers
11.3 Energy Storage Market Challenges
11.4 Energy Storage Market Restraints
12 Research Finding /Conclusion
13 Methodology and Data Source
13.1 Methodology/Research Approach
13.1.1 Research Programs/Design
13.1.2 Market Size Estimation
13.1.3 Market Breakdown and Data Triangulation
13.2 Data Source
13.2.1 Secondary Sources
13.2.2 Primary Sources
13.3 Disclaimer
13.4 Author List
Published By : QY Research
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