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Global Battery Energy Storage Systems for Smart Grid Market Research Report 2024
Synopsis
Owing to the growing consumption of power across the globe, there is a greater need for energy storage as distributed generation. Distributed generation produces power close to the areas where it is consumed so that the distance is reduced, resulting in less transmission and distribution losses. Distributed Energy Resources (DER) will be increasingly used to meet the future electricity demands for residential and industrial customers, utilities and commercial customers. The growing requirement to mitigate the power transmission and distribution losses will propel the demand for distributed generation during the forecast period.
The global Battery Energy Storage Systems for Smart Grid market was valued at US$ million in 2023 and is anticipated to reach US$ million by 2030, witnessing a CAGR of % 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 60% 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 Systems for Smart Grid, 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 Systems for Smart Grid.
Report Scope
The Battery Energy Storage Systems for Smart Grid 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 Systems for Smart Grid 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 Systems for Smart Grid 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
GEAlstom
A123
Bosch
BYD
AES Energy Storage
LG Chem
Segment by Type
Secondary Batteries
Flow Batteries
Others
Segment by Application
Energy Management
Backup Power
Voltage Support
Load Leveling
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 Systems for Smart Grid 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 Systems for Smart Grid 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 Systems for Smart Grid 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.
Owing to the growing consumption of power across the globe, there is a greater need for energy storage as distributed generation. Distributed generation produces power close to the areas where it is consumed so that the distance is reduced, resulting in less transmission and distribution losses. Distributed Energy Resources (DER) will be increasingly used to meet the future electricity demands for residential and industrial customers, utilities and commercial customers. The growing requirement to mitigate the power transmission and distribution losses will propel the demand for distributed generation during the forecast period.
The global Battery Energy Storage Systems for Smart Grid market was valued at US$ million in 2023 and is anticipated to reach US$ million by 2030, witnessing a CAGR of % 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 60% 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 Systems for Smart Grid, 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 Systems for Smart Grid.
Report Scope
The Battery Energy Storage Systems for Smart Grid 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 Systems for Smart Grid 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 Systems for Smart Grid 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
GEAlstom
A123
Bosch
BYD
AES Energy Storage
LG Chem
Segment by Type
Secondary Batteries
Flow Batteries
Others
Segment by Application
Energy Management
Backup Power
Voltage Support
Load Leveling
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 Systems for Smart Grid 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 Systems for Smart Grid 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 Systems for Smart Grid 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 Systems for Smart Grid Market Overview
1.1 Product Definition
1.2 Battery Energy Storage Systems for Smart Grid Segment by Type
1.2.1 Global Battery Energy Storage Systems for Smart Grid Market Value Growth Rate Analysis by Type 2023 VS 2030
1.2.2 Secondary Batteries
1.2.3 Flow Batteries
1.2.4 Others
1.3 Battery Energy Storage Systems for Smart Grid Segment by Application
1.3.1 Global Battery Energy Storage Systems for Smart Grid Market Value Growth Rate Analysis by Application: 2023 VS 2030
1.3.2 Energy Management
1.3.3 Backup Power
1.3.4 Voltage Support
1.3.5 Load Leveling
1.3.6 Others
1.4 Global Market Growth Prospects
1.4.1 Global Battery Energy Storage Systems for Smart Grid Production Value Estimates and Forecasts (2019-2030)
1.4.2 Global Battery Energy Storage Systems for Smart Grid Production Capacity Estimates and Forecasts (2019-2030)
1.4.3 Global Battery Energy Storage Systems for Smart Grid Production Estimates and Forecasts (2019-2030)
1.4.4 Global Battery Energy Storage Systems for Smart Grid Market Average Price Estimates and Forecasts (2019-2030)
1.5 Assumptions and Limitations
2 Market Competition by Manufacturers
2.1 Global Battery Energy Storage Systems for Smart Grid Production Market Share by Manufacturers (2019-2024)
2.2 Global Battery Energy Storage Systems for Smart Grid Production Value Market Share by Manufacturers (2019-2024)
2.3 Global Key Players of Battery Energy Storage Systems for Smart Grid, Industry Ranking, 2022 VS 2023 VS 2024
2.4 Global Battery Energy Storage Systems for Smart Grid Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.5 Global Battery Energy Storage Systems for Smart Grid Average Price by Manufacturers (2019-2024)
2.6 Global Key Manufacturers of Battery Energy Storage Systems for Smart Grid, Manufacturing Base Distribution and Headquarters
2.7 Global Key Manufacturers of Battery Energy Storage Systems for Smart Grid, Product Offered and Application
2.8 Global Key Manufacturers of Battery Energy Storage Systems for Smart Grid, Date of Enter into This Industry
2.9 Battery Energy Storage Systems for Smart Grid Market Competitive Situation and Trends
2.9.1 Battery Energy Storage Systems for Smart Grid Market Concentration Rate
2.9.2 Global 5 and 10 Largest Battery Energy Storage Systems for Smart Grid Players Market Share by Revenue
2.10 Mergers & Acquisitions, Expansion
3 Battery Energy Storage Systems for Smart Grid Production by Region
3.1 Global Battery Energy Storage Systems for Smart Grid Production Value Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
3.2 Global Battery Energy Storage Systems for Smart Grid Production Value by Region (2019-2030)
3.2.1 Global Battery Energy Storage Systems for Smart Grid Production Value Market Share by Region (2019-2024)
3.2.2 Global Forecasted Production Value of Battery Energy Storage Systems for Smart Grid by Region (2025-2030)
3.3 Global Battery Energy Storage Systems for Smart Grid Production Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
3.4 Global Battery Energy Storage Systems for Smart Grid Production by Region (2019-2030)
3.4.1 Global Battery Energy Storage Systems for Smart Grid Production Market Share by Region (2019-2024)
3.4.2 Global Forecasted Production of Battery Energy Storage Systems for Smart Grid by Region (2025-2030)
3.5 Global Battery Energy Storage Systems for Smart Grid Market Price Analysis by Region (2019-2024)
3.6 Global Battery Energy Storage Systems for Smart Grid Production and Value, Year-over-Year Growth
3.6.1 North America Battery Energy Storage Systems for Smart Grid Production Value Estimates and Forecasts (2019-2030)
3.6.2 Europe Battery Energy Storage Systems for Smart Grid Production Value Estimates and Forecasts (2019-2030)
3.6.3 China Battery Energy Storage Systems for Smart Grid Production Value Estimates and Forecasts (2019-2030)
3.6.4 Japan Battery Energy Storage Systems for Smart Grid Production Value Estimates and Forecasts (2019-2030)
4 Battery Energy Storage Systems for Smart Grid Consumption by Region
4.1 Global Battery Energy Storage Systems for Smart Grid Consumption Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
4.2 Global Battery Energy Storage Systems for Smart Grid Consumption by Region (2019-2030)
4.2.1 Global Battery Energy Storage Systems for Smart Grid Consumption by Region (2019-2024)
4.2.2 Global Battery Energy Storage Systems for Smart Grid Forecasted Consumption by Region (2025-2030)
4.3 North America
4.3.1 North America Battery Energy Storage Systems for Smart Grid Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
4.3.2 North America Battery Energy Storage Systems for Smart Grid Consumption by Country (2019-2030)
4.3.3 U.S.
4.3.4 Canada
4.4 Europe
4.4.1 Europe Battery Energy Storage Systems for Smart Grid Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
4.4.2 Europe Battery Energy Storage Systems for Smart Grid 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 Systems for Smart Grid Consumption Growth Rate by Region: 2019 VS 2023 VS 2030
4.5.2 Asia Pacific Battery Energy Storage Systems for Smart Grid 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 Systems for Smart Grid Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
4.6.2 Latin America, Middle East & Africa Battery Energy Storage Systems for Smart Grid 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 Systems for Smart Grid Production by Type (2019-2030)
5.1.1 Global Battery Energy Storage Systems for Smart Grid Production by Type (2019-2024)
5.1.2 Global Battery Energy Storage Systems for Smart Grid Production by Type (2025-2030)
5.1.3 Global Battery Energy Storage Systems for Smart Grid Production Market Share by Type (2019-2030)
5.2 Global Battery Energy Storage Systems for Smart Grid Production Value by Type (2019-2030)
5.2.1 Global Battery Energy Storage Systems for Smart Grid Production Value by Type (2019-2024)
5.2.2 Global Battery Energy Storage Systems for Smart Grid Production Value by Type (2025-2030)
5.2.3 Global Battery Energy Storage Systems for Smart Grid Production Value Market Share by Type (2019-2030)
5.3 Global Battery Energy Storage Systems for Smart Grid Price by Type (2019-2030)
6 Segment by Application
6.1 Global Battery Energy Storage Systems for Smart Grid Production by Application (2019-2030)
6.1.1 Global Battery Energy Storage Systems for Smart Grid Production by Application (2019-2024)
6.1.2 Global Battery Energy Storage Systems for Smart Grid Production by Application (2025-2030)
6.1.3 Global Battery Energy Storage Systems for Smart Grid Production Market Share by Application (2019-2030)
6.2 Global Battery Energy Storage Systems for Smart Grid Production Value by Application (2019-2030)
6.2.1 Global Battery Energy Storage Systems for Smart Grid Production Value by Application (2019-2024)
6.2.2 Global Battery Energy Storage Systems for Smart Grid Production Value by Application (2025-2030)
6.2.3 Global Battery Energy Storage Systems for Smart Grid Production Value Market Share by Application (2019-2030)
6.3 Global Battery Energy Storage Systems for Smart Grid Price by Application (2019-2030)
7 Key Companies Profiled
7.1 Siemens
7.1.1 Siemens Battery Energy Storage Systems for Smart Grid Corporation Information
7.1.2 Siemens Battery Energy Storage Systems for Smart Grid Product Portfolio
7.1.3 Siemens Battery Energy Storage Systems for Smart Grid 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 Systems for Smart Grid Corporation Information
7.2.2 ABB Battery Energy Storage Systems for Smart Grid Product Portfolio
7.2.3 ABB Battery Energy Storage Systems for Smart Grid 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 Systems for Smart Grid Corporation Information
7.3.2 Samsung SDI Battery Energy Storage Systems for Smart Grid Product Portfolio
7.3.3 Samsung SDI Battery Energy Storage Systems for Smart Grid 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 GEAlstom
7.4.1 GEAlstom Battery Energy Storage Systems for Smart Grid Corporation Information
7.4.2 GEAlstom Battery Energy Storage Systems for Smart Grid Product Portfolio
7.4.3 GEAlstom Battery Energy Storage Systems for Smart Grid Production, Value, Price and Gross Margin (2019-2024)
7.4.4 GEAlstom Main Business and Markets Served
7.4.5 GEAlstom Recent Developments/Updates
7.5 A123
7.5.1 A123 Battery Energy Storage Systems for Smart Grid Corporation Information
7.5.2 A123 Battery Energy Storage Systems for Smart Grid Product Portfolio
7.5.3 A123 Battery Energy Storage Systems for Smart Grid Production, Value, Price and Gross Margin (2019-2024)
7.5.4 A123 Main Business and Markets Served
7.5.5 A123 Recent Developments/Updates
7.6 Bosch
7.6.1 Bosch Battery Energy Storage Systems for Smart Grid Corporation Information
7.6.2 Bosch Battery Energy Storage Systems for Smart Grid Product Portfolio
7.6.3 Bosch Battery Energy Storage Systems for Smart Grid Production, Value, Price and Gross Margin (2019-2024)
7.6.4 Bosch Main Business and Markets Served
7.6.5 Bosch Recent Developments/Updates
7.7 BYD
7.7.1 BYD Battery Energy Storage Systems for Smart Grid Corporation Information
7.7.2 BYD Battery Energy Storage Systems for Smart Grid Product Portfolio
7.7.3 BYD Battery Energy Storage Systems for Smart Grid Production, Value, Price and Gross Margin (2019-2024)
7.7.4 BYD Main Business and Markets Served
7.7.5 BYD Recent Developments/Updates
7.8 AES Energy Storage
7.8.1 AES Energy Storage Battery Energy Storage Systems for Smart Grid Corporation Information
7.8.2 AES Energy Storage Battery Energy Storage Systems for Smart Grid Product Portfolio
7.8.3 AES Energy Storage Battery Energy Storage Systems for Smart Grid Production, Value, Price and Gross Margin (2019-2024)
7.8.4 AES Energy Storage Main Business and Markets Served
7.7.5 AES Energy Storage Recent Developments/Updates
7.9 LG Chem
7.9.1 LG Chem Battery Energy Storage Systems for Smart Grid Corporation Information
7.9.2 LG Chem Battery Energy Storage Systems for Smart Grid Product Portfolio
7.9.3 LG Chem Battery Energy Storage Systems for Smart Grid Production, Value, Price and Gross Margin (2019-2024)
7.9.4 LG Chem Main Business and Markets Served
7.9.5 LG Chem Recent Developments/Updates
8 Industry Chain and Sales Channels Analysis
8.1 Battery Energy Storage Systems for Smart Grid Industry Chain Analysis
8.2 Battery Energy Storage Systems for Smart Grid Key Raw Materials
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.3 Battery Energy Storage Systems for Smart Grid Production Mode & Process
8.4 Battery Energy Storage Systems for Smart Grid Sales and Marketing
8.4.1 Battery Energy Storage Systems for Smart Grid Sales Channels
8.4.2 Battery Energy Storage Systems for Smart Grid Distributors
8.5 Battery Energy Storage Systems for Smart Grid Customers
9 Battery Energy Storage Systems for Smart Grid Market Dynamics
9.1 Battery Energy Storage Systems for Smart Grid Industry Trends
9.2 Battery Energy Storage Systems for Smart Grid Market Drivers
9.3 Battery Energy Storage Systems for Smart Grid Market Challenges
9.4 Battery Energy Storage Systems for Smart Grid 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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