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Worldwide Battery Energy Storage System Industry to 2025 - COVID-19 Impact Analysis

Research and Markets
·10-min read

Dublin, Oct. 16, 2020 (GLOBE NEWSWIRE) -- The "Global Battery Energy Storage System Market with COVID-19 Impact Analysis by Element (Battery, Others), Battery Type (Lithium-Ion, Flow Batteries), Connection Type (On-Grid, Off-Grid), Ownership, Energy Capacity, Application, and Geography - Forecast to 2025" report has been added to's offering.

The global battery energy storage system market size is expected to grow at a CAGR of 32.8% from 2020 to 2025, reaching USD 12.1 billion by 2025 from USD 2.9 billion in 2020.

Lithium-ion energy storage systems allow increased energy storage, thereby enabling low-cost wind and solar energy to enter grids. This, in turn, reduces the carbon dioxide emissions and lowers the overall power costs. Various players in the market are working toward improving the performance of lithium-ion batteries that makes them an attractive option for stationary energy storage applications. Cells or batteries embedded in battery energy storage systems play an important role in deciding the service life of these systems. LG Chem (South Korea), Panasonic (Japan), and Samsung SDI (South Korea) are some companies providing lithium-ion batteries and using them in their battery energy storage systems. The declining price of lithium-ion batteries is anticipated to act as an opportunity for energy storage system providers. This, in turn, is expected to contribute to the production of battery energy storage systems enabled with lithium-ion batteries.

"Battery energy storage system market to be driven by on-grid connection system during the forecast period"

The on-grid connection type segment is expected to hold a significant share of the battery energy storage system industry during the forecast period. The on-grid connections exhibit lower upfront costs than the off-grid system, as the surplus energy is sent to the grid, which can be used later on a meter basis. The reduction in the energy bills for the customers relying on the utility grid for electricity is expected to drive the growth of the segment. The demand for grid modernization from renewable energies suppliers and new regulatory policies for the energy sector are driving the growth of the on-grid battery energy storage system market for utilities.

"Utility-owned segment to grow at significant CAGR during the forecast period"

The ability of the utility-owned battery energy storage systems to manage large energy requirements during peak hours is increasing their adoption. The customers of utility-owned battery energy storage systems need to pay monthly fees based on the power usage. The utility-owned energy storage companies invest in energy storage to overcome the high cost of electrical T&D by fulfilling the growing demand for electricity. According to the Energy Storage Association, in the US, the utility based-battery storage installed capacity grew by 221 MW in 2016. This shows the high dependence of the customers on the utility-owned battery storage systems for their energy requirements.

"Battery energy storage system market in APAC to witness the highest growth rate in the coming years"

The battery energy storage system industry in APAC is expected to grow at the highest CAGR from 2020 to 2025. The governments of various countries in this region focus on minimizing the adverse effects of the energy sector on the environment. These factors lead to the growth in the deployment of battery energy storage systems in residential and public utility applications. Some of the major battery energy storage system manufacturers based in APAC are Samsung SDI, LG Chem, Hitachi, Toshiba, TrinaBESS, NGK INSULATORS, LTD., Delta Electronics, Inc., Panasonic, and NEC Corporation.

According to a World Bank report by World Economic and Financial Surveys, growth momentum in the largest economies in Asia Pacific will be impacted due to COVID-19, reflecting in government policies and projects over concern in China and Japan, which, in turn, is harming other economies in Asia. The rising number of active cases in the region has led to a significant drop in the demand for transportation connectivity, which has correspondingly declined the growth of investments in the associated sector.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Growth Opportunities in Battery Energy Storage System Market
4.2 Battery Energy Storage System Market, by Energy Capacity
4.3 Battery Energy Storage System Market, by Connection Type
4.4 Battery Energy Storage System Market, by Application
4.5 Battery Energy Storage System Market, by Battery Type
4.6 Battery Energy Storage System Market in APAC, by Country and Application

5 Market Overview
5.1 Introduction
5.1.1 Drivers Surging Requirement of Continuous Power Supply from Critical Infrastructures in Wake of COVID-19 Increasing Demand for Grid Energy Storage Systems Owing to Ongoing Grid Modernization Growing Adoption of Lithium-Ion Batteries in Renewable Energy Sector Owing to Their Low Costs and Improved Performance Prevailing Trend of Adopting Low-Carbon and Less Fossil Fuel-Based Economy and Ongoing Renewable Energy Revolution
5.1.2 Restraints High Capital Expenditure Required for Installation of Battery Energy Storage Systems
5.1.3 Opportunities Surge in Number of Rural Electrification Projects Worldwide Requirement of Continuous Power Supply in Datacenters
5.1.4 Challenges Ongoing Disruptions in Supply Chain of Energy Generation Industry and Delay in ESS Projects Caused by COVID-19 Increasing Complexity in Terms of Installation of Battery Energy Storage Systems at Islands or in Remote Areas Overheating and Aging of Lithium-Ion Batteries
5.2 Value Chain of Battery Energy Storage Industry
5.2.1 COVID-19 Impact on Value Chain
5.3 Average Selling Price Trend
5.4 Battery Ecosystem Analysis
5.5 Case Studies
5.6 Patents
5.7 Technology Analysis
5.8 Standards and Regulations for Battery Energy Storage Systems

6 Industry Trends
6.1 Introduction
6.2 Software & Services in Battery Energy Storage System
6.2.1 Services
6.3 List of Installed Battery Energy Storage System Projects in 2019
6.4 Customer Analysis - Post-COVID-19
6.4.1 Shift in Lithium-Ion Batteries Disruptions in the Industry Impact on Customer Output and Strategies to Resume/Improve Production New Market Opportunities/Growth Opportunities
6.4.2 Shift in Lead-Acid Batteries Disruptions in the Industry Impact on Customer Output and Strategies to Resume/Improve Production New Market/Growth Opportunities

7 Battery Energy Storage System Market, by Element
7.1 Introduction
7.2 Battery
7.2.1 Battery Selection is One of the Important Criteria for Development of Battery Energy Storage System
7.3 Other Elements
7.3.1 Hardware Power Conversion System (PCS) and Battery Management System are Prime Hardware Components in Battery Energy Storage System
7.3.2 Others Other Elements Constitute 20% of Total Cost of Battery Energy Storage System and Aid in Proper Functioning of System

8 Battery Energy Storage System Market, by Battery Type
8.1 Introduction
8.2 Lithium-Ion Batteries
8.2.1 Bess Equipped with Li-Ion Batteries are Widely Used Systems due to Their High Energy Density
8.3 Lead-Acid Batteries
8.3.1 Lead-Acid Battery is a Mature Technology Used in Grid Energy Storage, Off-Grid Household Electric Power Systems, and Emergency Lighting Applications
8.4 Flow Batteries
8.4.1 Several Advantages of Flow Batteries Over Other Battery Technologies to Boost Their Demand
8.5 Others
8.5.1 Sodium-Based Batteries High Energy Density, Charge/Discharge Efficiency, and Long Cycle Life are Fueling Demand for NAS Batteries in Grid Energy Storage Systems
8.5.2 Nickel-Cadmium Battery
8.5.3 Nickel-Metal Hydride Battery
8.5.4 Nickel-Iron Battery

9 Battery Energy Storage System Market, by Connection Type
9.1 Introduction
9.2 On-Grid Connection
9.2.1 Load Leveling, Peak Shaving, Stable Pricing, and Power Demand Management are Major Applications of On-Grid Connected Battery Energy Storage System
9.3 Off-Grid Connection
9.3.1 an Effective Means for Electrifying Rural Locations Away from Grid

10 Battery Energy Storage System Market, by Ownership
10.1 Introduction
10.2 Customer-Owned
10.2.1 Majorly Used for Storing Solar Energy in Self-Consumption Residential Areas to Reduce Communication Load from Grids
10.3 Third-Party-Owned
10.3.1 Third-Party Owner Acts as an Aggregator and Makes Its Own Rate Structure When Offering Electricity to Consumers or End-users
10.4 Utility-Owned
10.4.1 Decline in Demand for Utility-Owned Energy Storage Systems due to COVID-19 Pandemic

11 Battery Energy Storage System Market, by Energy Capacity
11.1 Introduction
11.2 Below 100 MWh
11.2.1 Battery Energy Storage Systems with Low Energy Capacity are Mostly Suitable for Residential- or Community-Based Storage Systems
11.3 Between 100 and 500 MWh
11.3.1 Battery Energy Storage Systems of Energy Capacity Between 100 and 500 MWh Increase Need for Frequency Control Services to Manage High Variability and Uncertainty in Power System
11.4 Above 500 MWh
11.4.1 Offer Extended Service Life and Can be Used for Peak Load Regulation in Support of a Large Grid

12 Battery Energy Storage System Market, by Application
12.1 Introduction
12.2 Impact of COVID-19 on Application Segments of Battery Energy Storage Systems Market
12.3 Residential
12.3.1 Delays in Installation of Residential Energy Storage Projects at Customer Facilities due to Travel Restrictions in COVID-19 Crisis
12.4 Commercial
12.4.1 Battery Energy Storage Systems are Widely Used in UPS in Non-Residential Sector
12.5 Utility
12.5.1 Decline in Demand for Electricity due to COVID-19 Has Affected Growth of Power Distribution Companies and Utility Providers

13 Geographic Analysis
13.1 Introduction
13.2 North America
13.3 Europe
13.4 APAC
13.5 Rest of the World (RoW)

14 Competitive Landscape
14.1 Introduction
14.2 Market Evaluation Framework
14.3 Market Share Analysis
14.4 Winning Strategies to Gain Market Share
14.4.1 Short-Term Strategies
14.4.2 Long-Term Strategies
14.5 Some Companies and Their Business Plans
14.6 Competitive Situations and Trends
14.6.1 Agreements, Contracts, Collaborations, and Partnerships
14.6.2 Product Launches
14.6.3 Expansions and Acquisitions

15 Company Evaluation Matrix and Company Profiles
15.1 Introduction
15.1.1 Impact of COVID-19 on Battery Energy Storage System Market
15.2 Company Evaluation Matrix
15.2.1 Star
15.2.2 Pervasive
15.2.3 Emerging Leaders
15.2.4 Participant
15.3 Key Players
15.3.1 ABB
15.3.2 LG Chem
15.3.3 Panasonic
15.3.4 Samsung SDI
15.3.5 Siemens AG
15.3.6 General Electric
15.3.7 Hitachi
15.3.8 Tesla
15.3.9 Toshiba
15.3.10 AEG Power Solutions
15.4 Right to Win
15.5 Other Key Players
15.5.1 The AES Corporation
15.5.2 Exergonix
15.5.3 Corvus Energy
15.5.4 East Penn Manufacturing Company
15.5.5 Enerdel
15.5.6 Delta Electronics, Inc.
15.5.7 NGK Insulators, Ltd.
15.5.8 TrinaBESS
15.5.9 Primus Power
15.5.10 Honeywell International
15.5.11 NEC Corporation
15.5.12 BYD
15.5.13 Nextera Energy
15.5.14 Park Hannifin
15.5.15 Johnson Controls

16 Appendix

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