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Global Battery Energy Storage Market Research Report 2024
Synopsis
The lithium-ion batteries have a long lifespan of 5–10 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. 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.
The global Battery Energy Storage 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.
Due to the rapid development of the wind power and photovoltaic industry, as well as the increasing awareness of environmental protection in various countries, the energy storage industry is becoming one of the key technologies, which is used in many countries to advance the carbon neutral target process today. The United States, China and Japan occupied the leading position in the installed capacity of energy storage projects, among which the United States is the world's largest energy storage market. The European Union established the European Battery Alliance (EBA) in 2017, aiming to escape the EU's dependence on Asian manufacturers in the battery storage field. According to Data Europa’s statistics, the cumulative installed capacity has reached 48.38GW in 2020. At present, pumped storage accounts for 94% of the energy storage market in Europe, with Spain and Germany having the largest capacity. According to BNEF data, electrochemical energy storage in the United States added 3.97GW / 10.88 GWh in 2021. In terms of power, it accounted for 40% of the global increase. In 2022, the United States passed the IRA, which subsidized independent energy storage for the first time. Under the ITC, new energy storage projects could offset up to 59% of the investment. The effect of the policy has initially appeared, and the energy storage industry in the United States shows an upward trend.
This report aims to provide a comprehensive presentation of the global market for Battery Energy Storage, 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.
Report Scope
The Battery Energy Storage market size, estimations, and forecasts are provided in terms of output/shipments (GWh) 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 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 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
Siemens
ABB
Samsung SDI
Bosch
BYD
Segment by Type
Li-Ion Batteries
Lead-Acid Batteries
Sodium Sulfur Batteries
Segment by Application
Residential
Non-Residential
Utilities
Others
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 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 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 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.
The lithium-ion batteries have a long lifespan of 5–10 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. 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.
The global Battery Energy Storage 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.
Due to the rapid development of the wind power and photovoltaic industry, as well as the increasing awareness of environmental protection in various countries, the energy storage industry is becoming one of the key technologies, which is used in many countries to advance the carbon neutral target process today. The United States, China and Japan occupied the leading position in the installed capacity of energy storage projects, among which the United States is the world's largest energy storage market. The European Union established the European Battery Alliance (EBA) in 2017, aiming to escape the EU's dependence on Asian manufacturers in the battery storage field. According to Data Europa’s statistics, the cumulative installed capacity has reached 48.38GW in 2020. At present, pumped storage accounts for 94% of the energy storage market in Europe, with Spain and Germany having the largest capacity. According to BNEF data, electrochemical energy storage in the United States added 3.97GW / 10.88 GWh in 2021. In terms of power, it accounted for 40% of the global increase. In 2022, the United States passed the IRA, which subsidized independent energy storage for the first time. Under the ITC, new energy storage projects could offset up to 59% of the investment. The effect of the policy has initially appeared, and the energy storage industry in the United States shows an upward trend.
This report aims to provide a comprehensive presentation of the global market for Battery Energy Storage, 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.
Report Scope
The Battery Energy Storage market size, estimations, and forecasts are provided in terms of output/shipments (GWh) 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 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 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
Siemens
ABB
Samsung SDI
Bosch
BYD
Segment by Type
Li-Ion Batteries
Lead-Acid Batteries
Sodium Sulfur Batteries
Segment by Application
Residential
Non-Residential
Utilities
Others
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 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 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 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 Market Overview
1.1 Product Definition
1.2 Battery Energy Storage Segment by Type
1.2.1 Global Battery Energy Storage Market Value Growth Rate Analysis by Type 2023 VS 2030
1.2.2 Li-Ion Batteries
1.2.3 Lead-Acid Batteries
1.2.4 Sodium Sulfur Batteries
1.3 Battery Energy Storage Segment by Application
1.3.1 Global Battery Energy Storage Market Value Growth Rate Analysis by Application: 2023 VS 2030
1.3.2 Residential
1.3.3 Non-Residential
1.3.4 Utilities
1.3.5 Others
1.4 Global Market Growth Prospects
1.4.1 Global Battery Energy Storage Production Value Estimates and Forecasts (2019-2030)
1.4.2 Global Battery Energy Storage Production Capacity Estimates and Forecasts (2019-2030)
1.4.3 Global Battery Energy Storage Production Estimates and Forecasts (2019-2030)
1.4.4 Global Battery Energy Storage Market Average Price Estimates and Forecasts (2019-2030)
1.5 Assumptions and Limitations
2 Market Competition by Manufacturers
2.1 Global Battery Energy Storage Production Market Share by Manufacturers (2019-2024)
2.2 Global Battery Energy Storage Production Value Market Share by Manufacturers (2019-2024)
2.3 Global Key Players of Battery Energy Storage, Industry Ranking, 2022 VS 2023 VS 2024
2.4 Global Battery Energy Storage Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.5 Global Battery Energy Storage Average Price by Manufacturers (2019-2024)
2.6 Global Key Manufacturers of Battery Energy Storage, Manufacturing Base Distribution and Headquarters
2.7 Global Key Manufacturers of Battery Energy Storage, Product Offered and Application
2.8 Global Key Manufacturers of Battery Energy Storage, Date of Enter into This Industry
2.9 Battery Energy Storage Market Competitive Situation and Trends
2.9.1 Battery Energy Storage Market Concentration Rate
2.9.2 Global 5 and 10 Largest Battery Energy Storage Players Market Share by Revenue
2.10 Mergers & Acquisitions, Expansion
3 Battery Energy Storage Production by Region
3.1 Global Battery Energy Storage Production Value Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
3.2 Global Battery Energy Storage Production Value by Region (2019-2030)
3.2.1 Global Battery Energy Storage Production Value Market Share by Region (2019-2024)
3.2.2 Global Forecasted Production Value of Battery Energy Storage by Region (2025-2030)
3.3 Global Battery Energy Storage Production Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
3.4 Global Battery Energy Storage Production by Region (2019-2030)
3.4.1 Global Battery Energy Storage Production Market Share by Region (2019-2024)
3.4.2 Global Forecasted Production of Battery Energy Storage by Region (2025-2030)
3.5 Global Battery Energy Storage Market Price Analysis by Region (2019-2024)
3.6 Global Battery Energy Storage Production and Value, Year-over-Year Growth
3.6.1 North America Battery Energy Storage Production Value Estimates and Forecasts (2019-2030)
3.6.2 Europe Battery Energy Storage Production Value Estimates and Forecasts (2019-2030)
3.6.3 China Battery Energy Storage Production Value Estimates and Forecasts (2019-2030)
3.6.4 Japan Battery Energy Storage Production Value Estimates and Forecasts (2019-2030)
4 Battery Energy Storage Consumption by Region
4.1 Global Battery Energy Storage Consumption Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
4.2 Global Battery Energy Storage Consumption by Region (2019-2030)
4.2.1 Global Battery Energy Storage Consumption by Region (2019-2024)
4.2.2 Global Battery Energy Storage Forecasted Consumption by Region (2025-2030)
4.3 North America
4.3.1 North America Battery Energy Storage Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
4.3.2 North America Battery Energy Storage Consumption by Country (2019-2030)
4.3.3 U.S.
4.3.4 Canada
4.4 Europe
4.4.1 Europe Battery Energy Storage Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
4.4.2 Europe Battery Energy Storage 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 Consumption Growth Rate by Region: 2019 VS 2023 VS 2030
4.5.2 Asia Pacific Battery Energy Storage 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 Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
4.6.2 Latin America, Middle East & Africa Battery Energy Storage 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 Production by Type (2019-2030)
5.1.1 Global Battery Energy Storage Production by Type (2019-2024)
5.1.2 Global Battery Energy Storage Production by Type (2025-2030)
5.1.3 Global Battery Energy Storage Production Market Share by Type (2019-2030)
5.2 Global Battery Energy Storage Production Value by Type (2019-2030)
5.2.1 Global Battery Energy Storage Production Value by Type (2019-2024)
5.2.2 Global Battery Energy Storage Production Value by Type (2025-2030)
5.2.3 Global Battery Energy Storage Production Value Market Share by Type (2019-2030)
5.3 Global Battery Energy Storage Price by Type (2019-2030)
6 Segment by Application
6.1 Global Battery Energy Storage Production by Application (2019-2030)
6.1.1 Global Battery Energy Storage Production by Application (2019-2024)
6.1.2 Global Battery Energy Storage Production by Application (2025-2030)
6.1.3 Global Battery Energy Storage Production Market Share by Application (2019-2030)
6.2 Global Battery Energy Storage Production Value by Application (2019-2030)
6.2.1 Global Battery Energy Storage Production Value by Application (2019-2024)
6.2.2 Global Battery Energy Storage Production Value by Application (2025-2030)
6.2.3 Global Battery Energy Storage Production Value Market Share by Application (2019-2030)
6.3 Global Battery Energy Storage Price by Application (2019-2030)
7 Key Companies Profiled
7.1 Siemens
7.1.1 Siemens Battery Energy Storage Corporation Information
7.1.2 Siemens Battery Energy Storage Product Portfolio
7.1.3 Siemens Battery Energy Storage Production, Value, Price and Gross Margin (2019-2024)
7.1.4 Siemens Main Business and Markets Served
7.1.5 Siemens Recent Developments/Updates
7.2 ABB
7.2.1 ABB Battery Energy Storage Corporation Information
7.2.2 ABB Battery Energy Storage Product Portfolio
7.2.3 ABB Battery Energy Storage Production, Value, Price and Gross Margin (2019-2024)
7.2.4 ABB Main Business and Markets Served
7.2.5 ABB Recent Developments/Updates
7.3 Samsung SDI
7.3.1 Samsung SDI Battery Energy Storage Corporation Information
7.3.2 Samsung SDI Battery Energy Storage Product Portfolio
7.3.3 Samsung SDI Battery Energy Storage Production, Value, Price and Gross Margin (2019-2024)
7.3.4 Samsung SDI Main Business and Markets Served
7.3.5 Samsung SDI Recent Developments/Updates
7.4 Bosch
7.4.1 Bosch Battery Energy Storage Corporation Information
7.4.2 Bosch Battery Energy Storage Product Portfolio
7.4.3 Bosch Battery Energy Storage Production, Value, Price and Gross Margin (2019-2024)
7.4.4 Bosch Main Business and Markets Served
7.4.5 Bosch Recent Developments/Updates
7.5 BYD
7.5.1 BYD Battery Energy Storage Corporation Information
7.5.2 BYD Battery Energy Storage Product Portfolio
7.5.3 BYD Battery Energy Storage Production, Value, Price and Gross Margin (2019-2024)
7.5.4 BYD Main Business and Markets Served
7.5.5 BYD Recent Developments/Updates
8 Industry Chain and Sales Channels Analysis
8.1 Battery Energy Storage Industry Chain Analysis
8.2 Battery Energy Storage Key Raw Materials
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.3 Battery Energy Storage Production Mode & Process
8.4 Battery Energy Storage Sales and Marketing
8.4.1 Battery Energy Storage Sales Channels
8.4.2 Battery Energy Storage Distributors
8.5 Battery Energy Storage Customers
9 Battery Energy Storage Market Dynamics
9.1 Battery Energy Storage Industry Trends
9.2 Battery Energy Storage Market Drivers
9.3 Battery Energy Storage Market Challenges
9.4 Battery Energy Storage 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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