Global Energy Storage Market Size, Share Analysis & Industry Forecast 2016-2024

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Energy Storage Systems Market Outlook
Global Energy Storage Systems Market Outlook
2024 Global Opportunity Growth Analysis,
2016-2024
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Energy Storage Systems Market Outlook
Fig 1-2 Global Energy Storage Systems Market
Share (), By Region-2016-2024
Fig 1-1 Global Energy Storage Systems Market
Size USD (Billion). 2016-2024
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In 2016, Mechanical Energy Storage System
accounted for the highest market share XX in
Global Energy Storage Systems Market
With XX share by 2024, Asia-Pacific region will
dominate the Global Energy Storage Systems Market
Fig 1-3 Global Energy Storage Systems Market
Share (), By Technology Type - 2016
Fig 1-4 Global Energy Storage Systems Market
Share (), By Application - 2016
Fig 1-5 Global Energy Storage Systems Market
Share (), By End-User - 2016
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Energy Storage Market Outlook
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• The global energy storage systems market is
  expected to reach USD XX billion by 2024, from an
  estimated USD XX billion in 2016, growing at a
  CAGR of XX during 2016-2024 due to growing
  energy demands and the role of the consumer are
  shifting, bringing new stresses and strains to an
  aging electric grid. To improve reliability and
  resilience, and enhancing electric system
  performance, advancements in energy storage
  technologies are carried on to improve the
  economics of accommodating these changes.
• Dramatic and recent decreases in pricing,
  advances in technology, and attention to
  improving resilience are all factors contributing
  to an exponential growth in energy storage
  markets over the next several years.
• The confluence of growth forces and continued
  advancement in grid planning and operations is
  expected to create an opportunity to innovate and
  drive the deployment of more than XX GW of new
  energy storage systems in the U.S. by 2025.
• The electrification of transportation, data
  centers, HVAC, communications, industry, and
  manufacturing means each of these interconnected
  networks will become more reliant on the
  electricity grid to function properly. Thus
  advanced energy storage systems can lead to
  consistency in supply and demand to be efficient
  and reliable without any disruptions.
• At the end of 2016, the estimated total global
  energy storage capacity in operation was XX GW, a
  XX increase from the previous year and pumped
  hydro storage capacity remained the largest
  contributor to this growth.
• Since 2012, global electrochemical energy storage
  capacity has grown steadily, with a cumulative
  annual growth rate of XX between 2012 and 2016.
  In 2016, newly-operating energy storage capacity
  reached XX MW, a growth of XX from the previous
  year.

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Global Energy Storage Systems Market, By Capacity
(In Gigawatt (GW)), By Region, 2016-2024
Asia-Pacific
North America
Europe
Latin America
MEA
XX Million
XX Million
XX Million
XX Million
XX Million
2016
XX Million
XX Million
XX Million
XX Million
XX Million
2024
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Energy Storage Systems Market Outlook 2016-2024
Global Energy Storage Systems Y-O-Y Growth ()
Analysis-2016-2024
Global Energy Storage Systems Market Size (USD
Billion)-2016-2024
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• Global Energy Storage Systems market is
  estimated to rise XX percent per year and is
  estimated to reach XX billion by 2024. The
  emerging consensus on energy storage that the
  pivotal technology could reshape the energy
  sector by enabling widespread adoption and grid
  integration of solar and wind renewables is
  expected to grow the market size. Regulators are
  also beginning to recognize the value of storage
  and are creating policies that further improve
  the business case for adoption.
• Moreover, Recent advancements in materials and
  manufacturing have improved the economics of
  storage. Traditional storage technologies such as
  pumped hydro and compressed air have limited
  applicability and are losing market share to
  emerging battery technologies. The various
  technologies that are gaining commercial
  traction, are under development that offer the
  potential of step-change improvements in
  performance and cost.

Global Energy Storage Systems, By
Applications(), 2016
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Global Energy Storage Systems Market Size (USD
Billion)-2016-2024
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Global Energy Storage Systems , By Investments,
2016
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Top 15 Countries With Penetration of Energy
Storage Systems, 2016
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• Asia-Pacific is expected to remain the largest
  market with valuation of USD XX billion by 2024
  with the CAGR of XX over the forecast year owing
  to higher penetration in China and Japan.
• Because of differences in policy environments,
  power sector conditions, and consumer demand, in
  2016, the main global markets for energy storage
  such as the US, Germany, the UK, Australia,
  Japan, and Korea all exhibited different levels
  of development, application sectors, and business
  models.
• Local and international brands are witnessing
  high sales of their products due to the rising
  urbanization in the emerging regions and gaining
  popularity in the market due to their offering
  of affordable residential air purification
  solution
• Based on the total power capacity of energy
  storage projects delivered to consumers, the five
  global leading companies are LG Chem, Samsung
  SDI, BYD, NGK, and Kokam. The capacity of the
  operational projects from these companies
  accounts for XX of the total new capacity
  installed worldwide in 2016.

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• Trend of Renewable Energy
• The widespread and rapid implementation of
  intermittent renewable energy sources, namely
  solar photovoltaic (PV) and wind, is catalyzing
  efforts to modernize electricity systems around
  the world. Wind and solar PV had record increases
  in 2016 of installed capacity for about XX of
  new generation.
• Currently, increased focus on the renewable
  energy production is gaining momentum due to
  heavy public-private investment.
• With the importance of renewable energy sources
  on the power sector increasing, solutions and
  appropriate measures are needed to balance the
  supply and demand of energy. In addition, the
  need to manage reserves of electrical energy
  storage (EES) has been increasing incrementally.
• Electrical Energy Storage (EES) is one of the key
  technologies to have been developed, exhibiting a
  high growth rate and high level of importance in
  the last few years.

Global Energy Storage Systems Market, By
Commercial Application
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Global Energy Storage Systems Market Share(), By
Solar PV Global Capacity-2011-2016
Global Energy Storage Systems Market Share(), By
Wind Power Global capacity-2011-2016

• Impact Analysis-
• Massive deployment of renewable electricity
  sources and the promotion of policies to
  modernize electricity production and consumption
  are spurring the development of electricity
  storage
• Falling costs and innovation mean that
  electricity storage technologies are starting to
  emerge at larger scales and, can be used over a
  much wider range of applications and locations
  than PHS.

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• Legal Factors Causing Challenges
• The lack of appropriate regulatory framework is
  one of the main barriers for the development of
  energy storage systems. Creating an appropriate
  regulatory framework that would support energy
  storage systems development has now become
  crucial.
• Key issues to be considered in the context of
  regulatory framework design are, defining the
  role of storage in the electricity value chain,
  supporting storage projects without creating
  undue distortions on the energy markets, and
  handling challenges resulting from the mass
  deployment of storage facilities.
• Even the mature markets, both the US and Europe
  have struggled to incorporate energy storage in
  their respective regulatory frameworks due to its
  ambiguous nature being a generator and a
  consumer.
• Understanding the economics and costs of energy
  storage is challenging due to the different
  technologies and applications. Thus, various
  countries such as India are still relied on using
  non-renewable sources of energy such as coal.
• in contrast to the EU natural gas regulatory
  framework, where gas storage is an established
  regulatory concept, the current EU electricity
  regulatory framework fails to address the energy
  storage systems issue.

Sample
Estimated Fuel Savings and System Costs of Energy
Storage Technologies in Remote Micro-grids by
Battery Type, 2016

• Impact Analysis-
• Legal regulatory factors influence the value and
  utility of storage systems. It is impeding the
  technology and market that are conducive to
  adoption of energy storage.

Battery Type Installed Cost (USD/KW)
Flow Battery Utility Scale XX
Flow Battery Distributed XX
Advanced Lead Acid Utility-Scale XX
Advanced Lead Acid Distributed XX
Lithium Ion Utility Scale XX
Lithium Ion Distributed XX
Impact on Energy Storage Systems Market
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Global Energy Storage System Market, By Capacity
and Growth Rate - 2000-2016
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• KEY FINDINGS
• Since 2010, global energy storage capacity has
  grown steadily, with a cumulative annual growth
  rate of XX between 2010 and 2016. In 2016,
  newly-operating energy storage capacity reached
  MW, a growth of XX from the previous year.
  Projects announced or under construction in 2016
  totaled XX MW. We forecast that global energy
  storage deployments will maintain fast growth in
  the short term.
• The U.S.A. energy storage capacity in 2016 was XX
  MW, increased by XX between 2010-2016.
  California has the largest deployment of energy
  storage capacity adding 237 megawatts of new
  capacity during 2016. California thus set new
  record for energy storage capacity growth and
  serves as the Americas energy storage leader.
• The Japanese New Energy Promotion Council (NEPC)
  appropriated USD XX million to develop two
  Large-Scale Grid-Balancing Battery Energy
  Demonstration Projects to support the Kyushu
  Electric Power Co. and Tohoku Electric Power Co.
  install energy storage systems allowing more
  renewable energy on the grid. In 2016, Japan
  total energy storage capacity was XX MW.
• Germany installed XX residential energy storage
  systems in 2016. There are now XX energy storage
  systems in operation in Germany that serve solar
  PV systems. Total energy storage capacity in 2016
  was XX MW grew by XX between 2010 - 2016.
• In 2016, China added XX MW of new operating
  energy storage projects an annual growth rate of
  XX. In 2016, companies announced an additional
  XX MW of projects either in planning or under
  construction. In the short term, we expect
  sustained high growth rates for electrochemical
  energy storage installations in China.
• Pumped hydro storage technology has immense
  opportunities in future for its key advantages
  like low cost, reliability, and the ability to
  provide power at high levels for many hours.

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• Factors Impacting Global Energy Storage Systems
  Market
• There is a range of technologies which are
  either already deployed or currently under
  development. These include various types of
  batteries, flywheels and compressed air storage.
  These technologies provide storage solutions at
  all scales, from household systems through to
  grid-size solutions.
• costs and benefits of energy storage are in
  continual flux, thus the ratio assist in
  determining the feasibility of storage
  technologies where benefits exceed class, by
  depicting when specific technologies are likely
  to warrant consideration within a certain
  customer class.
• A well-designed regulatory framework supporting
  the development of energy storage system projects
  could be viewed as a competitive advantage,
  rendering a given country attractive for
  investors.

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Global Energy Storage Systems Market Share (),
By Technology Type, 2016-2024

• Effective use of the worlds energy resources
  depends on having the flexibility to selectively
  provide energy at choice times, which is the
  fundamental concept behind energy storage
  technologies, the conversion of energy from one
  state to another (i.e., kinetic to potential or
  vice versa) so that it can be harnessed at later
  or used in an alternative manner.
• Pumped hydro storage(PHS), mechanical energy
  storage type of technology, accounts for more
  than XX of bulk storage capacity worldwide,
  around XX MW across 200 large sites globally.
• In 2016, most newly-operational electrochemical
  energy storage projects used lithium-ion
  batteries, sodium-sulfur batteries, and lead
  batteries. Together, these three technologies
  accounted for XX of newly-added capacity.
  Lithium-ion battery deployment was largest,
  accounting for XX of newly-added capacity in
  2016.
• The potential benefits of energy storage have
  caught the attention of many stakeholders in the
  power sector, leading to significant growth.
  Installations associated with grid and ancillary
  services are projected to grow by roughly XX
  times over the next 10 years.

2024
2016
Sample
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Global Energy Storage Systems Market Y-O-Y
Growth,(), By Technology Type- 2016-2024
Global Energy Storage Systems Market Size (USD
Billion), By Technology Type-2016-2024
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Global Energy Storage Systems Market
Attractiveness-By Technology Type, 2016-2024
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Chemical Energy Storage
Chemical energy storage systems value is expected
to increase from USD XX billion in 2016 to over
XX billion in 2024 for a CAGR of over XX. While
electromechanical energy storage systems is
expected to grow at a CAGR of XX to reach USD XX
Billion. Over the forecast period chemical energy
storage system tends to be the promising energy
storage systems market. Mechanical energy
storage system market share tends to be
sacrificed by electromechanical energy storage
system over the forecast period.
Global Energy Storage Systems Market BPS
Analysis- By Technology Type, 2016-2024
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Energy Storage Systems Industry Analysis
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Energy Storage Systems Industry Historical
Analysis (2016-2017)
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In each of the countries survey , a significant
portion of consumers said that they would either
be a first mover in the adoption of an electric
vehicle or at least might be willing to consider
purchasing an electric. mover in the adoption of
an electric vehicle or at least might be willing
to consider purchasing an systems.
SAMPLE
Energy Storage Systems Industry Current Scenario
(2018)
In each of the countries survey , a significant
portion of consumers said that they would either
be a first mover in the adoption of an electric
vehicle or at least might be willing to consider
purchasing an electric c vehicle or at least
might be willing to consider purchasing an
electric
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Energy Storage market Forecast Analysis
(2019-2025)
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U.S. Energy Storage Systems Market Size (USD
Billion), Compound Annual Growth Rate (), Y-O-Y
Growth Rate (), 2016-2024
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Fig 24 U.S. Energy Storage Systems Market Size,
Capacity (Megawatt), 2016-2024
Key Insights
In the U.S., total energy storage systems market
is expected to reach XX million in 2024, up XX
percent from XX million in 2016. Ancillary
services in the U.S. remained the leading
application sector for energy storage. The
United States has the largest market for energy
storage, both by number of projects and installed
capacity. In 2016, XX MW of energy storage have
installed, some states have implemented globally
innovative energy storage incentive programs,
and the country has adopted a XX MW target by
2020.
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The Mid-Atlantic and Midwestern regions of the
U.S. have seen significant energy storage
deployments in the past several years. One of the
most notable drivers for growth has been PJMs
competitive ancillary service market. In the PJM
and MISO grid regions, energy storage is used for
frequency regulation and improving grid
flexibility.
15
North America Energy Storage Systems Market
Attractiveness, By Country, 2016-2024
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U.S.A. energy storage systems market value is
expected to increase from USD XX billion in 2016
to over XX billion in 2024 for a CAGR of over
XX. While Canada energy storage systems market
at a CAGR of XX to reach USD XX Billion t. Over
the forecast period U.S.A. tends to be the
promising energy storage systems market due to
the increasing demand of energy and to assimilate
huge capacity of energy generated. Canada has
lower capacity of energy generated in the region
as compared to the U.S.A. capacity. The adoption
rate of these energy storage systems is more
likely in U.S.A., which in present scenario
acquires larger market share and tends further
grow by compensating the market share of Canada.
North America Energy Storage Systems Market BPS
Analysis- By Country, 2016-2024
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