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    Energy Storage Systems Market Report

    Energy Storage Systems Market Report
    Report code - SROG148 Delivery - 2 Weeks
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    Energy Storage Systems Market Size, Share, Trend, Forecast, & Industry Analysis &ndash See more...

    Impact of COVID-19 on Energy Storage Systems Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Energy Storage Systems Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    Energy Storage Systems Market is likely to witness an impressive CAGR of 6.5% during the forecast period. Increasing demand for continuous electricity supply and growing focus towards renewable energy is likely to boost the growth of energy storage systems market.

    Energy Storage Systems Market – Snapshot

    Growth

    6.5% for the next five years

    Dominant Technology Type

    Pumped Hydro

    Major Application Type

    Electric Energy Time Shift

    Region with the Fastest Growing demand

    Asia-Pacific

    Key Players

    Samsung SDI, Tesla Inc, Panasonic, Hitachi Chemical, GS Yuasa, J-Power, LG Chem, Exide Technologies, Toshiba, BYD Co, Sinohydro, Voith, EDF, Dongfang Electric, Goss Engineering, Evapco, Steffes Corporation, Genex Power Limited, Alstom and Schluchseewerk AG

    Segment Analysis

    Energy-Storage-Systems-Market-Dominant-Segments

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    Energy Storage Systems Market Share: By Technology Type

    Based on the technology type, the market is segmented as pumped hydro, electro mechanical, electro-chemical, and thermal. The pumped hydro segment is projected to be the largest segment of the market during the forecast period. Higher efficiency, greater stability, longer lifespan, and low storage cost are some of the major features of the pumped hydro segment driving its growth in the global market.

    Energy Storage Systems Market Share: By Application Type

    Based on the application type, the market is segmented as electric energy time shift, electric supply capacity, black start, renewable capacity firming, frequency regulations, and others. The electric energy time shift segment is projected to remain the largest segment of the market. Electric energy time-shift involves purchasing inexpensive energy during low cost for storage and to use it later when cost or price is high.

    Energy Storage Systems Market Share: By Region

    In terms of regions, Asia-Pacific is estimated to be the largest market led by China, Japan, India, South Korea, ASEAN Countries, and Others. Expanding industrial sector, rapid urbanization, significant economic development in the region, and increased focus towards sustainable source of energy are the major factors driving the growth of the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

    Energy-Storage-Systems-Market-By-Region

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    Market Scope & Segmentation

    Energy Storage Systems is the device used to convert electrical energy from power system into a form that can be stored for converting back to electrical energy. The market is segmented by technology type into pumped hydro, electro chemical, electro-mechanical, and thermal. By application type into electric energy time shift, electric supply capacity, black start, renewable capacity firming, frequency regulation, and others.

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    Energy Storage Systems Market Research Report - Features

    Market Segmentation

    3

    Regions Covered

    4

    Countries/Sub-Regions Covered

    17

    No. of Figures & Tables

    >150

    Company Profiles

    10

     

    The energy storage systems market is segmented into the following categories. 

    Energy Storage Systems Market Size, Share, & Forecast, by Technology Type:

    • Pumped Hydro (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Electro-Chemical
      • Regional Analysis: North America, Europe, Asia-Pacific, and RoW
      • Type Analysis: Lithium Ion Battery, Sodium Sulphur Battery, Lead Acid Battery, Flow Battery, and Others
    • Electro-Mechanical
      • Regional Analysis: North America, Europe, Asia-Pacific, and RoW
      • Type Analysis: Flywheel and CAES
    • Thermal
      • Regional Analysis: North America, Europe, Asia-Pacific, and RoW
      • Type Analysis: Water, Molten Salt, PCM, and Others

    Energy Storage Systems Market Size, Share, & Forecast, by Application Type:

    • Electric Energy Time Shift (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Electric Supply Capacity (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Black Start (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Renewable Capacity Firming (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Frequency Regulation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Energy Storage Systems Market Size, Share, & Forecast, by Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Energy-Storage-Systems-Market-Segmentation

    Key Players

    Some of the key players in the energy storage systems market are-

    • Samsung SDI
    • Tesla Inc.
    • Panasonic
    • Hitachi Chemical
    • GS Yuasa
    • J-Power
    • LG Chem
    • Exide Technologies
    • Toshiba
    • BYD Co
    • Sinohydro
    • Voith
    • EDF
    • Dongfang Electric
    • Goss Engineering
    • Evapco
    • Steffes Corporation
    • Genex Power Limited
    • Alstom
    • Schluchseewerk AG.

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation by any one of the application types by technology type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected]

    Frequently Asked Questions (FAQs)

    The energy storage systems market is expected to witness an impressive growth of 6.5% CAGR in the foreseeable future.

    Samsung SDI, Tesla Inc, Panasonic, Hitachi Chemical, GS Yuasa, J-Power, LG Chem, Exide Technologies, Toshiba, BYD Co, Sinohydro, Voith, EDF, Dongfang Electric, Goss Engineering, Evapco, Steffes Corporation, Genex Power Limited, Alstom and Schluchseewerk AG are among the key players in the energy storage systems market.

    Asia-pacific is expected to be the largest energy storage systems market during the forecast period.

    The electric energy time shift segment is expected to be the largest segment in the energy storage systems market in the coming years.

    The pumped hydro segment is expected to be the largest segment in the energy storage systems market in the years to come.

    Increasing demand for continuous electricity supply and growing focus towards renewable energy are the factors driving the growth of energy storage systems market.

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