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Global Battery Energy Storage for Renewables Market Research Report 2024
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 was valued at US$ 6790.4 million in 2023 and is anticipated to reach US$ 8495.9 million by 2030, witnessing a CAGR of 3.3% during the forecast period 2024-2030.
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%.
This report aims to provide a comprehensive presentation of the global market for Battery Energy Storage for Renewables, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Battery Energy Storage for Renewables.
Report Scope
The Battery Energy Storage for Renewables market size, estimations, and forecasts are provided in terms of output/shipments (K Units) and revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Battery Energy Storage for Renewables market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Battery Energy Storage for Renewables manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
AES Energy Storage
A123 Systems
Axion Power
BYD
LG Chem
NGK Insulators
SAFT
Samsung SDI
Segment by Type
Li-Ion
Lead-Acid
Sodium
Others
Segment by Application
Laptops
Smartphones
Notebooks
Tablets
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
China Taiwan
Southeast Asia
India
Latin America, Middle East & Africa
Mexico
Brazil
Turkey
GCC Countries
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. 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 2: Detailed analysis of Battery Energy Storage for Renewables manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Production/output, value of Battery Energy Storage for Renewables by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years.
Chapter 4: Consumption of Battery Energy Storage for Renewables in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and production of each country in the world.
Chapter 5: 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 6: 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 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product production/output, value, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: 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 10: The main points and conclusions of the report.
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 was valued at US$ 6790.4 million in 2023 and is anticipated to reach US$ 8495.9 million by 2030, witnessing a CAGR of 3.3% during the forecast period 2024-2030.
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%.
This report aims to provide a comprehensive presentation of the global market for Battery Energy Storage for Renewables, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Battery Energy Storage for Renewables.
Report Scope
The Battery Energy Storage for Renewables market size, estimations, and forecasts are provided in terms of output/shipments (K Units) and revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Battery Energy Storage for Renewables market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Battery Energy Storage for Renewables manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
AES Energy Storage
A123 Systems
Axion Power
BYD
LG Chem
NGK Insulators
SAFT
Samsung SDI
Segment by Type
Li-Ion
Lead-Acid
Sodium
Others
Segment by Application
Laptops
Smartphones
Notebooks
Tablets
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
China Taiwan
Southeast Asia
India
Latin America, Middle East & Africa
Mexico
Brazil
Turkey
GCC Countries
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. 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 2: Detailed analysis of Battery Energy Storage for Renewables manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Production/output, value of Battery Energy Storage for Renewables by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years.
Chapter 4: Consumption of Battery Energy Storage for Renewables in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and production of each country in the world.
Chapter 5: 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 6: 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 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product production/output, value, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: 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 10: The main points and conclusions of the report.
Index1 Battery Energy Storage for Renewables Market Overview
1.1 Product Definition
1.2 Battery Energy Storage for Renewables Segment by Type
1.2.1 Global Battery Energy Storage for Renewables Market Value Growth Rate Analysis by Type 2023 VS 2030
1.2.2 Li-Ion
1.2.3 Lead-Acid
1.2.4 Sodium
1.2.5 Others
1.3 Battery Energy Storage for Renewables Segment by Application
1.3.1 Global Battery Energy Storage for Renewables Market Value Growth Rate Analysis by Application: 2023 VS 2030
1.3.2 Laptops
1.3.3 Smartphones
1.3.4 Notebooks
1.3.5 Tablets
1.4 Global Market Growth Prospects
1.4.1 Global Battery Energy Storage for Renewables Production Value Estimates and Forecasts (2019-2030)
1.4.2 Global Battery Energy Storage for Renewables Production Capacity Estimates and Forecasts (2019-2030)
1.4.3 Global Battery Energy Storage for Renewables Production Estimates and Forecasts (2019-2030)
1.4.4 Global Battery Energy Storage for Renewables Market Average Price Estimates and Forecasts (2019-2030)
1.5 Assumptions and Limitations
2 Market Competition by Manufacturers
2.1 Global Battery Energy Storage for Renewables Production Market Share by Manufacturers (2019-2024)
2.2 Global Battery Energy Storage for Renewables Production Value Market Share by Manufacturers (2019-2024)
2.3 Global Key Players of Battery Energy Storage for Renewables, Industry Ranking, 2022 VS 2023 VS 2024
2.4 Global Battery Energy Storage for Renewables Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.5 Global Battery Energy Storage for Renewables Average Price by Manufacturers (2019-2024)
2.6 Global Key Manufacturers of Battery Energy Storage for Renewables, Manufacturing Base Distribution and Headquarters
2.7 Global Key Manufacturers of Battery Energy Storage for Renewables, Product Offered and Application
2.8 Global Key Manufacturers of Battery Energy Storage for Renewables, Date of Enter into This Industry
2.9 Battery Energy Storage for Renewables Market Competitive Situation and Trends
2.9.1 Battery Energy Storage for Renewables Market Concentration Rate
2.9.2 Global 5 and 10 Largest Battery Energy Storage for Renewables Players Market Share by Revenue
2.10 Mergers & Acquisitions, Expansion
3 Battery Energy Storage for Renewables Production by Region
3.1 Global Battery Energy Storage for Renewables Production Value Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
3.2 Global Battery Energy Storage for Renewables Production Value by Region (2019-2030)
3.2.1 Global Battery Energy Storage for Renewables Production Value Market Share by Region (2019-2024)
3.2.2 Global Forecasted Production Value of Battery Energy Storage for Renewables by Region (2025-2030)
3.3 Global Battery Energy Storage for Renewables Production Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
3.4 Global Battery Energy Storage for Renewables Production by Region (2019-2030)
3.4.1 Global Battery Energy Storage for Renewables Production Market Share by Region (2019-2024)
3.4.2 Global Forecasted Production of Battery Energy Storage for Renewables by Region (2025-2030)
3.5 Global Battery Energy Storage for Renewables Market Price Analysis by Region (2019-2024)
3.6 Global Battery Energy Storage for Renewables Production and Value, Year-over-Year Growth
3.6.1 North America Battery Energy Storage for Renewables Production Value Estimates and Forecasts (2019-2030)
3.6.2 Europe Battery Energy Storage for Renewables Production Value Estimates and Forecasts (2019-2030)
3.6.3 China Battery Energy Storage for Renewables Production Value Estimates and Forecasts (2019-2030)
3.6.4 Japan Battery Energy Storage for Renewables Production Value Estimates and Forecasts (2019-2030)
4 Battery Energy Storage for Renewables Consumption by Region
4.1 Global Battery Energy Storage for Renewables Consumption Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
4.2 Global Battery Energy Storage for Renewables Consumption by Region (2019-2030)
4.2.1 Global Battery Energy Storage for Renewables Consumption by Region (2019-2024)
4.2.2 Global Battery Energy Storage for Renewables Forecasted Consumption by Region (2025-2030)
4.3 North America
4.3.1 North America Battery Energy Storage for Renewables Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
4.3.2 North America Battery Energy Storage for Renewables Consumption by Country (2019-2030)
4.3.3 U.S.
4.3.4 Canada
4.4 Europe
4.4.1 Europe Battery Energy Storage for Renewables Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
4.4.2 Europe Battery Energy Storage for Renewables Consumption by Country (2019-2030)
4.4.3 Germany
4.4.4 France
4.4.5 U.K.
4.4.6 Italy
4.4.7 Russia
4.5 Asia Pacific
4.5.1 Asia Pacific Battery Energy Storage for Renewables Consumption Growth Rate by Region: 2019 VS 2023 VS 2030
4.5.2 Asia Pacific Battery Energy Storage for Renewables Consumption by Region (2019-2030)
4.5.3 China
4.5.4 Japan
4.5.5 South Korea
4.5.6 China Taiwan
4.5.7 Southeast Asia
4.5.8 India
4.6 Latin America, Middle East & Africa
4.6.1 Latin America, Middle East & Africa Battery Energy Storage for Renewables Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
4.6.2 Latin America, Middle East & Africa Battery Energy Storage for Renewables Consumption by Country (2019-2030)
4.6.3 Mexico
4.6.4 Brazil
4.6.5 Turkey
5 Segment by Type
5.1 Global Battery Energy Storage for Renewables Production by Type (2019-2030)
5.1.1 Global Battery Energy Storage for Renewables Production by Type (2019-2024)
5.1.2 Global Battery Energy Storage for Renewables Production by Type (2025-2030)
5.1.3 Global Battery Energy Storage for Renewables Production Market Share by Type (2019-2030)
5.2 Global Battery Energy Storage for Renewables Production Value by Type (2019-2030)
5.2.1 Global Battery Energy Storage for Renewables Production Value by Type (2019-2024)
5.2.2 Global Battery Energy Storage for Renewables Production Value by Type (2025-2030)
5.2.3 Global Battery Energy Storage for Renewables Production Value Market Share by Type (2019-2030)
5.3 Global Battery Energy Storage for Renewables Price by Type (2019-2030)
6 Segment by Application
6.1 Global Battery Energy Storage for Renewables Production by Application (2019-2030)
6.1.1 Global Battery Energy Storage for Renewables Production by Application (2019-2024)
6.1.2 Global Battery Energy Storage for Renewables Production by Application (2025-2030)
6.1.3 Global Battery Energy Storage for Renewables Production Market Share by Application (2019-2030)
6.2 Global Battery Energy Storage for Renewables Production Value by Application (2019-2030)
6.2.1 Global Battery Energy Storage for Renewables Production Value by Application (2019-2024)
6.2.2 Global Battery Energy Storage for Renewables Production Value by Application (2025-2030)
6.2.3 Global Battery Energy Storage for Renewables Production Value Market Share by Application (2019-2030)
6.3 Global Battery Energy Storage for Renewables Price by Application (2019-2030)
7 Key Companies Profiled
7.1 AES Energy Storage
7.1.1 AES Energy Storage Battery Energy Storage for Renewables Corporation Information
7.1.2 AES Energy Storage Battery Energy Storage for Renewables Product Portfolio
7.1.3 AES Energy Storage Battery Energy Storage for Renewables Production, Value, Price and Gross Margin (2019-2024)
7.1.4 AES Energy Storage Main Business and Markets Served
7.1.5 AES Energy Storage Recent Developments/Updates
7.2 A123 Systems
7.2.1 A123 Systems Battery Energy Storage for Renewables Corporation Information
7.2.2 A123 Systems Battery Energy Storage for Renewables Product Portfolio
7.2.3 A123 Systems Battery Energy Storage for Renewables Production, Value, Price and Gross Margin (2019-2024)
7.2.4 A123 Systems Main Business and Markets Served
7.2.5 A123 Systems Recent Developments/Updates
7.3 Axion Power
7.3.1 Axion Power Battery Energy Storage for Renewables Corporation Information
7.3.2 Axion Power Battery Energy Storage for Renewables Product Portfolio
7.3.3 Axion Power Battery Energy Storage for Renewables Production, Value, Price and Gross Margin (2019-2024)
7.3.4 Axion Power Main Business and Markets Served
7.3.5 Axion Power Recent Developments/Updates
7.4 BYD
7.4.1 BYD Battery Energy Storage for Renewables Corporation Information
7.4.2 BYD Battery Energy Storage for Renewables Product Portfolio
7.4.3 BYD Battery Energy Storage for Renewables Production, Value, Price and Gross Margin (2019-2024)
7.4.4 BYD Main Business and Markets Served
7.4.5 BYD Recent Developments/Updates
7.5 LG Chem
7.5.1 LG Chem Battery Energy Storage for Renewables Corporation Information
7.5.2 LG Chem Battery Energy Storage for Renewables Product Portfolio
7.5.3 LG Chem Battery Energy Storage for Renewables Production, Value, Price and Gross Margin (2019-2024)
7.5.4 LG Chem Main Business and Markets Served
7.5.5 LG Chem Recent Developments/Updates
7.6 NGK Insulators
7.6.1 NGK Insulators Battery Energy Storage for Renewables Corporation Information
7.6.2 NGK Insulators Battery Energy Storage for Renewables Product Portfolio
7.6.3 NGK Insulators Battery Energy Storage for Renewables Production, Value, Price and Gross Margin (2019-2024)
7.6.4 NGK Insulators Main Business and Markets Served
7.6.5 NGK Insulators Recent Developments/Updates
7.7 SAFT
7.7.1 SAFT Battery Energy Storage for Renewables Corporation Information
7.7.2 SAFT Battery Energy Storage for Renewables Product Portfolio
7.7.3 SAFT Battery Energy Storage for Renewables Production, Value, Price and Gross Margin (2019-2024)
7.7.4 SAFT Main Business and Markets Served
7.7.5 SAFT Recent Developments/Updates
7.8 Samsung SDI
7.8.1 Samsung SDI Battery Energy Storage for Renewables Corporation Information
7.8.2 Samsung SDI Battery Energy Storage for Renewables Product Portfolio
7.8.3 Samsung SDI Battery Energy Storage for Renewables Production, Value, Price and Gross Margin (2019-2024)
7.8.4 Samsung SDI Main Business and Markets Served
7.7.5 Samsung SDI Recent Developments/Updates
8 Industry Chain and Sales Channels Analysis
8.1 Battery Energy Storage for Renewables Industry Chain Analysis
8.2 Battery Energy Storage for Renewables Key Raw Materials
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.3 Battery Energy Storage for Renewables Production Mode & Process
8.4 Battery Energy Storage for Renewables Sales and Marketing
8.4.1 Battery Energy Storage for Renewables Sales Channels
8.4.2 Battery Energy Storage for Renewables Distributors
8.5 Battery Energy Storage for Renewables Customers
9 Battery Energy Storage for Renewables Market Dynamics
9.1 Battery Energy Storage for Renewables Industry Trends
9.2 Battery Energy Storage for Renewables Market Drivers
9.3 Battery Energy Storage for Renewables Market Challenges
9.4 Battery Energy Storage for Renewables Market Restraints
10 Research Finding and Conclusion
11 Methodology and Data Source
11.1 Methodology/Research Approach
11.1.1 Research Programs/Design
11.1.2 Market Size Estimation
11.1.3 Market Breakdown and Data Triangulation
11.2 Data Source
11.2.1 Secondary Sources
11.2.2 Primary Sources
11.3 Author List
11.4 Disclaimer
Published By : QY Research
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