Albany, NY -- (SBWire) -- 08/14/2018 --Battery energy storage systems can be defined as systems used for storage of electricity generated by power plants. These especially include renewable power plants. The electricity stored is then used for ensuring smooth power supply to consumers when power supply from renewable power plants fluctuates due to weather conditions. These systems are also employed for providing energy to the people living off-grid as well as to the automotive sector.
This report analyzes and forecasts the market for battery energy storage systems at the global and regional levels. The market has been forecast based on revenue (US$ Mn) from 2017 to 2026. The study includes drivers and restraints for the global battery energy storage systems market. It also covers the anticipated impact of these drivers and restraints on the demand for battery energy storage systems during the forecast period. The report also highlights opportunities in the battery energy storage systems market at the global and regional levels.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global battery energy storage systems market. Porter's five forces model for the battery energy storage systems market has also been included to help understand the competition landscape of the market. The study encompasses market attractiveness analysis, wherein application segments have been benchmarked based on their market size, growth rate, and general attractiveness.
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The study provides a decisive view of the global battery energy storage systems market by segmenting it in terms of technology, application, and region. These segments have been analyzed based on present and future trends. Regional segmentation includes the current and forecast demand for battery energy storage systems in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers individual segments in all regions.
The study includes profiles of major companies operating in the global battery energy storage systems market. These include ABB Limited, Maxwell Technologies, LG Chem, NEC Corporation, Samsung SDI Ltd., Contemporary Amperex Technology co. Limited (CATL), Gildemeister, Primus Power, Tesla, Hitachi Ltd., Panasonic, and General Electric Company. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.
The report provides the estimated market size of the global battery energy storage systems market for 2017 and forecast for the next nine years. The market size has been provided in terms of revenue. Market numbers have been estimated based on technology, application, and regional segments of the battery energy storage systems market. Market size and forecast for each major segment has been provided in terms of global and regional/country-level markets.
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Battery Energy Storage Systems Market, by Technology
Lithium-ion Batteries [Lithium Cobalt Oxide, Lithium Manganese Oxide, Lithium Nickel Manganese Cobalt Oxide (NMC), Lithium Iron Phosphate (LFP), Lithium Nickel Cobalt Aluminum Oxide, and Lithium Titanate]
- Nickel Cadmium Batteries
- Sodium Sulfur Batteries
- Sodium-ion Batteries
- Flow Batteries [Redox Flow Batteries, Iron Chromium Flow Batteries, Vanadium Redox Batteries, Hybrid Flow Batteries (Zinc Hybrid Cathode, Other Hybrid Batteries), and Others]
- Others
Battery Energy Storage Systems Market, by Application
- On-grid Connected Systems
- Off-grid Connected Systems
- Automotive
- Others
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Global Battery Energy Storage Systems Market Estimated to Reach Approximately US $26 Bn by 2026