The Battery Energy Storage System Market is expected to reach $16.21 billion, at a CAGR of 27.3% during the forecast period 2022–2029. The fast growth of this market is attributed to the increasing demand for grid energy storage systems due to rapid grid modernization, rising low-carbon and less fossil fuel-based economy, and the ongoing renewable energy revolution. However, the high capital requirement for installing battery energy storage systems is expected to restrain the growth of this market. In addition, the surge in the number of rural electrification projects worldwide and the decline in lithium-ion battery prices are expected to create significant growth opportunities for the players operating in this market. The complexities in installing battery energy storage systems on islands or remote areas and overheating of lithium-ion batteries pose challenges to the growth of this market.
The outbreak of the COVID-19 pandemic led to a global economic downturn. Several countries imposed strict lockdowns to contain the infection, resulting in a temporary closure of manufacturing facilities and disrupted supply chains & production schedules. Industries were negatively impacted due to the disruption of supply chains and workforce limitations caused by the nationwide lockdowns. Closure of factories and trade restrictions also added to the existing challenges, severely impacting various industries. Manufacturing plants were shut down, affecting production and leading to a significant demand-supply gap.
Global manufacturing industries witnessed acute labor shortages, suspension & cancellation of projects, and disrupted supply & logistics. The battery energy storage system market also witnessed a decline in its installation in various projects in 2021. Besides, the shutdown of manufacturing facilities globally was responsible for the decline in the market's growth in 2020. A significant reduction in the demand for home battery storage products impacted the global economy. Due to the low availability of raw materials, manufacturing across industries was impeded.
However, various governments set significant targets to move the green wave brought about by the interferences of industrial processes leaning toward the industry landscape. Moreover, supportive economic stimulus packages combined with the persistent endeavors of industry players are set to boost the interest in battery energy storage systems units. For instance, in August 2020, Hitachi ABB Power Grids Ltd. (Switzerland) partnered with Zenobē Energy Limited., (U.K.), a leading owner and operator of battery energy storage systems, to provide advanced traction power solutions for the U.K. railroads. The association plans to manufacture a 25 kilovolt (KV) rail traction power system framework to convey yield by converting power from batteries and providing continuous power supply to trains.
In December 2021, Samsung SDI Co., Ltd. (South Korea) launched a new battery brand, PRiMX, trademarked in Korea and Europe and will soon be registered in the U.S. Additionally, in December 2021, LG Energy Solutions Co., Ltd. (South Korea) signed a Memorandum of Understanding (MoU) with Siemens AG (Germany) for collaboration in the field of battery manufacturing, particularly the digitization of the production process. Through this strategic collaboration, LG Energy Solutions Co., Ltd. implemented smart battery manufacturing processes at its factories with advanced techniques. Such initiatives are anticipated to drive the growth of the global battery energy storage system market during the forecast period.
Click here to : Get Free Sample Pages of this Report
Increasing Demand for Grid Energy Storage Systems for Grid Modernization
Grid energy storage, also known as large-scale energy storage, is a set of methods used for energy storage on a large scale within an electrical power grid. Electrical energy is stored during times when electricity is plentiful and inexpensive, especially from intermittent power sources such as renewable electricity from wind, tidal, and solar power.
Solar and wind are the most prominent renewable energy types stored in grids. However, the clouds or fluctuating wind currents lead to variations in the process of energy generation. Such fluctuations create the requirement for flexible grid systems to store energy. Battery energy storage systems are becoming an integral part of grid modernization. These systems help grid operators save electricity when the electricity generated exceeds the demand. The adoption of these systems improves the reliability and flexibility of electricity supply systems for the generation, transmission, and distribution of electricity.
As the penetration of renewable power increases, the operational dynamics of the power system change drastically, requiring a change in the system architecture. Energy storage will be a quintessential part of the new power system architecture as it helps balance out the variability in generation, enables consumption of a high proportion of self-generated renewable power by consumers, and reduce the need to feed excess electricity back into the grid.
Additionally, various governments and stakeholders are taking initiatives to meet the need for grid energy storage systems. For instance, in July 2022, The public sector undertakings (PSUs) of the Indian government invested in commercial scale implementation of battery energy storage systems along with Solar PV Projects. The Government of India also supports some of the storage projects through grant support funds. In December 2021, Total Energies (France) announced the completion of the construction of a battery-based energy storage facility in Dunkirk, France. The facility has a capacity of 61 MW and a total storage capacity of 61 megawatt-hours (MWh). The project was chosen as a part of the long-term plan rolled out by the French Electricity Transmission Network (RTE).
Such initiatives by the governments and stakeholders help increase the demand for grid energy storage systems.
Lithium-ion Batteries Segment to Register the Highest CAGR During Forecast Period
Based on battery type, the lithium-ion batteries segment is slated to register the highest CAGR during the forecast period. The fast growth of this segment is attributed to the advantages of the battery, such as high energy and power density, which leads to low standby losses and a high life expectancy of about 5–15 years with 98% efficiency. In addition, lithium-ion-sulfur battery energy storage systems support frequency regulation and demand charge reduction and allow grid-buffering and renewable integration, which are suitable for on-grid connections.
Battery Management Systems Segment to Register the Highest CAGR During Forecast Period
Based on component, the battery management systems segment is slated to register the highest CAGR during the forecast period. The fast growth of this segment is attributed to its ability to monitor the condition of battery cells, measure their parameters and states, such as state-of-charge (SOC) and state-of-health (SOH), and protect batteries from fire and other hazards.
On-grid Connection Segment to Register the Highest CAGR During Forecast Period
Based on connection type, the on-grid connection segment is slated to register the highest CAGR during the forecast period. The fast growth of this segment is attributed to the demand for grid modernization from renewable energy suppliers and new regulatory policies for the energy sector.
Utility-owned Segment to Register the Highest CAGR During Forecast Period
Based on ownership, the utility-owned segment is slated to register the highest CAGR during the forecast period. The fast growth of this segment is attributed to the increasing electrification initiatives by various governments and stakeholders to power distant and remote locations.
100 MWh to 500 MWh Segment to Register the Highest CAGR During Forecast Period
Based on energy capacity, the 100 MWh to 500 MWh segment is slated to register the highest CAGR during the forecast period. The fast growth of this segment is mainly because 100 MWh to 500 MWh power capacity batteries are widely used in medium EVs such as light commercial vehicles and utility vehicles.
Commercial Segment to Register the Highest CAGR During Forecast Period
Based on application, the commercial segment is slated to register the highest CAGR during the forecast period. The fast growth of this segment is attributed to the increasing need to develop charging infrastructure in public places, the high proliferation of commercial EV charging systems in Europe and the high demand for commercial EV charging systems in China due to the presence of large commercial garage parking spaces and densely populated urban areas.
Asia-Pacific to be the Fastest-growing Regional Market
Based on geography, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is slated to register the highest CAGR during the forecast period. The fast growth of this region is attributed to a substantial increase in energy storage investments as the governments in growing economies are making new policies to improve the reliability and quality of the power distribution facilities in residential areas. The governments of various countries in this region are focusing on minimizing the adverse effects of the energy sector on the environment. These factors are expected to lead to the high deployment of battery energy storage systems for residential and public utility applications in the APAC region.
Key Players
The key players operating in the global battery energy storage system market are ABB Ltd (Switzerland), General Electric Company (U.S.), BYD Company Limited (China), Delta Electronics, Inc. (Taiwan), Samsung SDI Co., Ltd. (South Korea), Panasonic Holdings Corporation (Japan), Siemens AG (Germany), Tesla Inc, (U.S.), Toshiba Corporation (Japan), LG Energy Solution, Ltd. (South Korea), Honeywell International Inc. (U.S.), Hitachi, Ltd. (Japan), NEC Corporation (Japan), EnerDel, Inc. (U.S.), Kokam (South Korea), Johnson Controls International plc (Ireland), Fluence Energy, Inc. (U.S.), and NextEra Energy, Inc. (U.S.).
Scope of the Report:
Battery Energy Storage System Market, by Battery Type
Battery Energy Storage System Market, by Component
Battery Energy Storage System Market, by Connection Type
Battery Energy Storage System Market, by Ownership
Battery Energy Storage System Market, by Energy Capacity
Battery Energy Storage System Market, by Application
Battery Energy Storage System Market, by Geography
Key questions answered in the report:
The global battery energy storage system market is slated to register a CAGR of 27.3% to reach $16.21 billion during the forecast period 2022–2029.
In 2022, the battery type segment is estimated to account for the largest share of the global battery energy storage system market.
The growth of this market is attributed to the increasing demand for grid energy storage system due to ongoing grid modernization, rising low-carbon and less fossil fuel-based economies, and the ongoing renewable energy revolution. The surge in the number of rural electrification projects worldwide and the decline in prices of lithium-ion batteries are expected to create significant growth opportunities for the players operating in this market.
The key players operating in the battery energy storage system market are ABB Ltd (Switzerland), General Electric Company (U.S.), BYD Company Limited (China), Delta Electronics, Inc. (Taiwan), Samsung SDI Co., Ltd. (South Korea), Panasonic Holdings Corporation (Japan), Siemens AG (Germany), Tesla Inc, (U.S.), Toshiba Corporation (Japan), LG Energy Solution, Ltd. (South Korea), Honeywell International Inc. (U.S.), Hitachi, Ltd. (Japan), NEC Corporation (Japan), EnerDel, Inc. (U.S.), Kokam (South Korea), Johnson Controls International plc (Ireland), Fluence Energy, Inc. (U.S.), and NextEra Energy, Inc. (U.S.).
This report provides pre & post COVID-19 market estimates.
1. Introduction
1.1. Market Definition
1.2. Market Ecosystem
1.3. Currency and Limitations
1.4. Key Stakeholders
2. Research Methodology
2.1. Research Process
2.2. Data Collection & Validation
2.2.1. Secondary Research
2.2.2. Primary Research
2.3. Market Assessment
2.3.1. Market Size Estimation
2.3.2. Bottom-up Approach
2.3.3. Top-down Approach
2.3.4. Growth Forecast
2.3.5. COVID-19 Impact Assessment
2.4. Assumptions for the Study
3. Executive Summary
4. The Impact of COVID-19 on the Global Battery Energy Storage Systems Market
5. Market Insights
5.1. Introduction
5.2. Global Battery Energy Storage Systems Market: Impact Analysis of Market Drivers
5.2.1. Increasing Demand for Grid Energy Storage Systems Due to Ongoing Grid Modernization
5.2.2. Rising Adoption of Low-carbon and Less Fossil Fuel-based Economy and Ongoing Renewable Energy Revolution
5.3 Global Battery Energy Storage Systems Market: Impact Analysis of Market Restraint
5.3.1. High Capital Required for Installing Battery Energy Storage Systems
5.4. Global Battery Energy Storage Systems Market: Impact Analysis of Market Opportunities
5.4.1. Surge in the Number of Rural Electrification Projects Worldwide
5.4.2. The Decline in Prices of Lithium-ion Batteries
5.5. Global Battery Energy Storage Systems Market: Impact Analysis of Market Challenges
5.5.1. Complexities in Installing Battery Energy Storage Systems at Islands or in Remote Areas
5.5.2. Overheating of Lithium-Ion Batteries
5.6. Value Chain Analysis
6. Global Battery Energy Storage Systems Market, By Battery Type
6.1. Introduction
6.2. Lithium-ion Batteries
6.3. Nickel-cadmium (Ni-Cd) Batteries
6.4. Nickel-metal Hydride (Ni-MH) Batteries
6.5. Sodium-sulfur (Na-S) Batteries
6.6. Redox Flow Batteries (RFB)
7. Global Battery Energy Storage Systems Market, By Component
7.1. Introduction
7.2. Battery Systems
7.3. Battery Management Systems (BMS)
7.4. Power Conversion Systems (PCS)
7.5. Energy Management Systems (EMS)
8. Global Battery Energy Storage Systems Market, By Connection Type
8.1. Introduction
8.2. On-grid Connection
8.3. Off-grid Connection
9. Global Battery Energy Storage Systems Market, By Ownership
9.1. Introduction
9.2. Customer-owned
9.3. Third-Party-owned
9.4. Utility-owned
10. Global Battery Energy Storage Systems Market, By Energy Capacity
10.1. Introduction
10.2. Below 100 MWh
10.3. 100 MWh to 500 MWh
10.4. More than 500 MWh
11. Global Battery Energy Storage Systems Market, By Application
11.1. Introduction
11.2. Residential
11.3. Commercial
11.3.1. Telecommunication
11.3.2. Data Centers
11.3.3. Industries
11.3.4. Marine
11.3.5. Healthcare
11.3.6. EV Charging Infrastructure
11.4. Utility
11.4.1. Peak Shaving
11.4.2. Load Shifting
11.4.3. Black Start
11.4.4. Microgrids
11.4.5. Renewable Integration
11.4.6. Grid Services
12. Battery Energy Storage Systems Market, By Geography
12.1. Introduction
12.2. North America
12.2.1. U.S.
12.2.2. Canada
12.3. Asia-Pacific
12.3.1. China
12.3.2. Japan
12.3.3. South Korea
12.3.4. India
12.3.5. Singapore
12.3.6. Thailand
12.3.7. Australia
12.3.8. Taiwan
12.3.9. Rest of Asia-Pacific
12.4. Europe
12.4.1. Germany
12.4.2. U.K.
12.4.3. France
12.4.4. Netherlands
12.4.5. Norway
12.4.6. Italy
12.4.7. Spain
12.4.8. Switzerland
12.4.9. Sweden
12.4.10. Denmark
12.4.11. Rest of Europe
12.5. Latin America
12.6. Middle East & Africa
13. Competitive Landscape
13.1. Introduction
13.2. Key Growth Strategies
13.3. Competitive Benchmarking
13.4. Market Share Analysis
14. Company Profiles (Business Overview, Financial Overview, Product Offering, Strategic Developments)
14.1. ABB Ltd
14.2. General Electric Company
14.3. BYD Company Limited
14.4. Delta Electronics, Inc.
14.5. Samsung SDI Co., Ltd.
14.6. Panasonic Holdings Corporation
14.7. Siemens AG
14.8. Tesla Inc,
14.9. Toshiba Corporation
14.10. LG Energy Solutions, Ltd.
14.11. Honeywell International Inc.
14.12. Hitachi, Ltd.
14.13. NEC Corporation
14.14. Enerdel, Inc.
14.15. Kokam
14.16. Johnson Controls International PLC
14.17. Fluence Energy, Inc.
14.18. Nextera Energy, Inc.
15. Appendix
15.1. Questionnaire
15.2. Available Customization
List of Tables
Table 1 Market Size and CAGR (USD Million)
Table 2 Global Battery Energy Storage Systems Market Size, by Battery Type, 2020–2029 (USD Million)
Table 3 Global Lithium-ion Battery Energy Storage Systems Market Size, by Type, 2020–2029 (USD Million)
Table 4 Global Lithium-ion Battery Energy Storage Systems Market Size, by Country/Region, 2020–2029 (USD Million)
Table 5 Global Nickel-Cadmium Battery Energy Storage Systems Market Size, by Type, 2020–2029 (USD Million)
Table 6 Global Nickel-Cadmium Battery Energy Storage Systems Market Size, by Country/Region, 2020–2029 (USD Million)
Table 7 Global Nickel-Metal Hydride Battery Energy Storage Systems Market Size, by Type, 2020–2029 (USD Million)
Table 8 Global Nickel-Metal Hydride Battery Energy Storage Systems Market Size, by Country/Region, 2020–2029 (USD Million)
Table 9 Global Sodium-Sulfur Battery Energy Storage Systems Market Size, by Type, 2020–2029 (USD Million)
Table 10 Global Sodium-Sulfur Battery Energy Storage Systems Market Size, by Country/Region, 2020–2029 (USD Million)
Table 11 Global Redox Flow Battery Energy Storage Systems Market Size, by Type, 2020–2029 (USD Million)
Table 12 Global Redox Flow Battery Energy Storage Systems Market Size, by Country/Region, 2020–2029 (USD Million)
Table 13 Global Battery Energy Storage Systems Market Size, by Component, 2020–2029 (USD Million)
Table 14 Global Battery Systems Market Size, by Country/Region, 2020–2029 (USD Million)
Table 15 Global Battery Management Systems Market Size, by Country/Region, 2020–2029 (USD Million)
Table 16 Global Power Conversion Systems Market Size, by Country/Region, 2020–2029 (USD Million)
Table 17 Global Energy Management Systems Market Size, by Country/Region, 2020–2029 (USD Million)
Table 18 Global Battery Energy Storage Systems Market Size, by Connection Type, 2020–2029 (USD Million)
Table 19 Global On-grid Connection Battery Energy Storage Systems Market Size, by Country/Region, 2020–2029 (USD Million)
Table 20 Global off-grid Connection Battery Energy Storage Systems Market Size, by Country/Region, 2020–2029 (USD Million)
Table 21 Global Battery Energy Storage Systems Market Size, by Ownership, 2020–2029 (USD Million)
Table 22 Global Customer-owned Battery Energy Storage Systems Market Size, by Country/Region, 2020–2029 (USD Million)
Table 23 Global Third-party-owned Battery Energy Storage Systems Market Size, by Country/Region, 2020–2029 (USD Million)
Table 24 Global Utility-owned Battery Energy Storage Systems Market Size, by Country/Region, 2020–2029 (USD Million)
Table 25 Global Battery Energy Storage Systems Market Size, by Energy Capacity, 2020–2029 (USD Million)
Table 26 Global Below 100 MWh Battery Energy Storage Systems Market Size, by Country/Region, 2020–2029 (USD Million)
Table 27 Global 100 MWh To 500 MWh Battery Energy Storage Systems Market Size, by Country/Region, 2020–2029 (USD Million)
Table 28 Global More Than 500 MWh Battery Energy Storage Systems Market Size, by Country/Region, 2020–2029 (USD Million)
Table 29 Global Battery Energy Storage Systems Market Size, by Application, 2020–2029 (USD Million)
Table 30 Global Battery Energy Storage Systems Market Size for Residential Application, by Country/Region, 2020–2029 (USD Million)
Table 31 Global Battery Energy Storage Systems Market Size for Commercial Application, by Country/Region, 2020–2029 (USD Million)
Table 32 Global Commercial Battery Energy Storage Systems Market Size for Telecommunication, by Type, 2020–2029 (USD Million)
Table 33 Global Commercial Battery Energy Storage Systems Market Size for Telecommunication, by Country/Region, 2020–2029 (USD Million)
Table 34 Global Commercial Battery Energy Storage Systems Market Size for Data Centers, by Type, 2020–2029 (USD Million)
Table 35 Global Commercial Battery Energy Storage Systems Market Size for Data Centers, by Country/Region, 2020–2029 (USD Million)
Table 36 Global Commercial Battery Energy Storage Systems Market Size for Industries, by Type, 2020–2029 (USD Million)
Table 37 Global Commercial Battery Energy Storage Systems Market Size for Industries, by Country/Region, 2020–2029 (USD Million)
Table 38 Global Commercial Battery Energy Storage Systems Market Size for Marine, by Type, 2020–2029 (USD Million)
Table 39 Global Commercial Battery Energy Storage Systems Market Size for Marine, by Country/Region, 2020–2029 (USD Million)
Table 40 Global Commercial Battery Energy Storage Systems Market Size for Healthcare, by Type, 2020–2029 (USD Million)
Table 41 Global Commercial Battery Energy Storage Systems Market Size for Healthcare, by Country/Region, 2020–2029 (USD Million)
Table 42 Global Commercial Battery Energy Storage Systems Market Size for EV Charging Infrastructure, by Type, 2020–2029 (USD Million)
Table 43 Global Commercial Battery Energy Storage Systems Market Size for EV Charging Infrastructure, by Country/Region, 2020–2029 (USD Million)
Table 44 Global Battery Energy Storage Systems Market Size for Utility, by Country/Region, 2020–2029 (USD Million)
Table 45 Global Utility Battery Energy Storage Systems Market Size for Peak Shaving, by Type, 2020–2029 (USD Million)
Table 46 Global Utility Battery Energy Storage Systems Market Size for Peak Shaving, by Country/Region, 2020–2029 (USD Million)
Table 47 Global Utility Battery Energy Storage Systems Market Size for Load Shifting, by Type, 2020–2029 (USD Million)
Table 48 Global Utility Battery Energy Storage Systems Market Size for Load Shifting, by Country/Region, 2020–2029 (USD Million)
Table 49 Global Utility Battery Energy Storage Systems Market Size for Black Start, by Type, 2020–2029 (USD Million)
Table 50 Global Utility Battery Energy Storage Systems Market Size for Black Start, by Country/Region, 2020–2029 (USD Million)
Table 51 Global Utility Battery Energy Storage Systems Market Size for Microgrids, by Type, 2020–2029 (USD Million)
Table 52 Global Utility Battery Energy Storage Systems Market Size for Microgrids, by Country/Region, 2020–2029 (USD Million)
Table 53 Global Utility Battery Energy Storage Systems Market Size for Renewable Integration, by Type, 2020–2029 (USD Million)
Table 54 Global Utility Battery Energy Storage Systems Market Size for Renewable Integration, by Country/Region, 2020–2029 (USD Million)
Table 55 Global Utility Battery Energy Storage Systems Market Size for Grid Services, by Type, 2020–2029 (USD Million)
Table 56 Global Utility Battery Energy Storage Systems Market Size for Grid Services, by Country/Region, 2020–2029 (USD Million)
Table 57 Global Battery Energy Storage Systems Market Size, by Country/Region, 2019–2028, (USD Million)
Table 58 North America: Battery Energy Storage Systems Market Size, by Country/Region, 2019–2028, (USD Million)
Table 59 North America: Battery Energy Storage Systems Market Size, by Battery Type, 2019–2028, (USD Million)
Table 60 North America: Battery Energy Storage Systems Market Size, by Component, 2019–2028, (USD Million)
Table 61 North America: Battery Energy Storage Systems Market Size, by Connection Type, 2019–2028, (USD Million)
Table 62 North America: Battery Energy Storage Systems Market Size, by Ownership, 2019–2028, (USD Million)
Table 63 North America: Battery Energy Storage Systems Market Size, by Energy Capacity, 2019–2028, (USD Million)
Table 64 North America: Battery Energy Storage Systems Market Size, by Application, 2019–2028, (USD Million)
Table 65 U.S.: Battery Energy Storage Systems Market Size, by Battery Type, 2019–2028, (USD Million)
Table 66 U.S.: Battery Energy Storage Systems Market Size, by Component, 2019–2028, (USD Million)
Table 67 U.S.: Battery Energy Storage Systems Market Size, by Connection Type, 2019–2028, (USD Million)
Table 68 U.S.: Battery Energy Storage Systems Market Size, by Ownership, 2019–2028, (USD Million)
Table 69 U.S.: Battery Energy Storage Systems Market Size, by Energy Capacity, 2019–2028, (USD Million)
Table 70 U.S.: Battery Energy Storage Systems Market Size, by Application, 2019–2028, (USD Million)
Table 71 Canada: Battery Energy Storage Systems Market Size, by Battery Type, 2019–2028, (USD Million)
Table 72 Canada: Battery Energy Storage Systems Market Size, by Component, 2019–2028, (USD Million)
Table 73 Canada: Battery Energy Storage Systems Market Size, by Connection Type, 2019–2028, (USD Million)
Table 74 Canada: Battery Energy Storage Systems Market Size, by Ownership, 2019–2028, (USD Million)
Table 75 Canada: Battery Energy Storage Systems Market Size, by Energy Capacity, 2019–2028, (USD Million)
Table 76 Canada: Battery Energy Storage Systems Market Size, by Application, 2019–2028, (USD Million)
Table 77 Asia-Pacific: Battery Energy Storage Systems Market Size, by Country/Region, 2019–2028, (USD Million)
Table 78 Asia-Pacific: Battery Energy Storage Systems Market Size, by Battery Type, 2019–2028, (USD Million)
Table 79 Asia-Pacific: Battery Energy Storage Systems Market Size, by Component, 2019–2028, (USD Million)
Table 80 Asia-Pacific: Battery Energy Storage Systems Market Size, by Connection Type, 2019–2028, (USD Million)
Table 81 Asia-Pacific: Battery Energy Storage Systems Market Size, by Ownership, 2019–2028, (USD Million)
Table 82 Asia-Pacific: Battery Energy Storage Systems Market Size, by Energy Capacity, 2019–2028, (USD Million)
Table 83 Asia-Pacific: Battery Energy Storage Systems Market Size, by Application, 2019–2028, (USD Million)
Table 84 China: Battery Energy Storage Systems Market Size, by Battery Type, 2019–2028, (USD Million)
Table 85 China: Battery Energy Storage Systems Market Size, by Component, 2019–2028, (USD Million)
Table 86 China: Battery Energy Storage Systems Market Size, by Connection Type, 2019–2028, (USD Million)
Table 87 China: Battery Energy Storage Systems Market Size, by Ownership, 2019–2028, (USD Million)
Table 88 China: Battery Energy Storage Systems Market Size, by Energy Capacity, 2019–2028, (USD Million)
Table 89 China: Battery Energy Storage Systems Market Size, by Application, 2019–2028, (USD Million)
Table 90 Japan: Battery Energy Storage Systems Market Size, by Battery Type, 2019–2028, (USD Million)
Table 91 Japan: Battery Energy Storage Systems Market Size, by Component, 2019–2028, (USD Million)
Table 92 Japan: Battery Energy Storage Systems Market Size, by Connection Type, 2019–2028, (USD Million)
Table 93 Japan: Battery Energy Storage Systems Market Size, by Ownership, 2019–2028, (USD Million)
Table 94 Japan: Battery Energy Storage Systems Market Size, by Energy Capacity, 2019–2028, (USD Million)
Table 95 Japan: Battery Energy Storage Systems Market Size, by Application, 2019–2028, (USD Million)
Table 96 South Korea: Battery Energy Storage Systems Market Size, by Battery Type, 2019–2028, (USD Million)
Table 97 South Korea: Battery Energy Storage Systems Market Size, by Component, 2019–2028, (USD Million)
Table 98 South Korea: Battery Energy Storage Systems Market Size, by Connection Type, 2019–2028, (USD Million)
Table 99 South Korea: Battery Energy Storage Systems Market Size, by Ownership, 2019–2028, (USD Million)
Table 100 South Korea: Battery Energy Storage Systems Market Size, by Energy Capacity, 2019–2028, (USD Million)
Table 101 South Korea: Battery Energy Storage Systems Market Size, by Application, 2019–2028, (USD Million)
Table 102 India: Battery Energy Storage Systems Market Size, by Battery Type, 2019–2028, (USD Million)
Table 103 India: Battery Energy Storage Systems Market Size, by Component, 2019–2028, (USD Million)
Table 104 India: Battery Energy Storage Systems Market Size, by Connection Type, 2019–2028, (USD Million)
Table 105 India: Battery Energy Storage Systems Market Size, by Ownership, 2019–2028, (USD Million)
Table 106 India: Battery Energy Storage Systems Market Size, by Energy Capacity, 2019–2028, (USD Million)
Table 107 India: Battery Energy Storage Systems Market Size, by Application, 2019–2028, (USD Million)
Table 108 Singapore: Battery Energy Storage Systems Market Size, by Battery Type, 2019–2028, (USD Million)
Table 109 Singapore: Battery Energy Storage Systems Market Size, by Component, 2019–2028, (USD Million)
Table 110 Singapore: Battery Energy Storage Systems Market Size, by Connection Type, 2019–2028, (USD Million)
Table 111 Singapore: Battery Energy Storage Systems Market Size, by Ownership, 2019–2028, (USD Million)
Table 112 Singapore: Battery Energy Storage Systems Market Size, by Energy Capacity, 2019–2028, (USD Million)
Table 113 Singapore: Battery Energy Storage Systems Market Size, by Application, 2019–2028, (USD Million)
Table 114 Thailand: Battery Energy Storage Systems Market Size, by Battery Type, 2019–2028, (USD Million)
Table 115 Thailand: Battery Energy Storage Systems Market Size, by Component, 2019–2028, (USD Million)
Table 116 Thailand: Battery Energy Storage Systems Market Size, by Connection Type, 2019–2028, (USD Million)
Table 117 Thailand: Battery Energy Storage Systems Market Size, by Ownership, 2019–2028, (USD Million)
Table 118 Thailand: Battery Energy Storage Systems Market Size, by Energy Capacity, 2019–2028, (USD Million)
Table 119 Thailand: Battery Energy Storage Systems Market Size, by Application, 2019–2028, (USD Million)
Table 120 Australia: Battery Energy Storage Systems Market Size, by Battery Type, 2019–2028, (USD Million)
Table 121 Australia: Battery Energy Storage Systems Market Size, by Component, 2019–2028, (USD Million)
Table 122 Australia: Battery Energy Storage Systems Market Size, by Connection Type, 2019–2028, (USD Million)
Table 123 Australia: Battery Energy Storage Systems Market Size, by Ownership, 2019–2028, (USD Million)
Table 124 Australia: Battery Energy Storage Systems Market Size, by Energy Capacity, 2019–2028, (USD Million)
Table 125 Australia: Battery Energy Storage Systems Market Size, by Application, 2019–2028, (USD Million)
Table 126 Taiwan: Battery Energy Storage Systems Market Size, by Battery Type, 2019–2028, (USD Million)
Table 127 Taiwan: Battery Energy Storage Systems Market Size, by Component, 2019–2028, (USD Million)
Table 128 Taiwan: Battery Energy Storage Systems Market Size, by Connection Type, 2019–2028, (USD Million)
Table 129 Taiwan: Battery Energy Storage Systems Market Size, by Ownership, 2019–2028, (USD Million)
Table 130 Taiwan: Battery Energy Storage Systems Market Size, by Energy Capacity, 2019–2028, (USD Million)
Table 131 Taiwan: Battery Energy Storage Systems Market Size, by Application, 2019–2028, (USD Million)
Table 132 Rest of Asia-Pacific: Battery Energy Storage Systems Market Size, by Battery Type, 2019–2028, (USD Million)
Table 133 Rest of Asia-Pacific: Battery Energy Storage Systems Market Size, by Component, 2019–2028, (USD Million)
Table 134 Rest of Asia-Pacific: Battery Energy Storage Systems Market Size, by Connection Type, 2019–2028, (USD Million)
Table 135 Rest of Asia-Pacific: Battery Energy Storage Systems Market Size, by Ownership, 2019–2028, (USD Million)
Table 136 Rest of Asia-Pacific: Battery Energy Storage Systems Market Size, by Energy Capacity, 2019–2028, (USD Million)
Table 137 Rest of Asia-Pacific: Battery Energy Storage Systems Market Size, by Application, 2019–2028, (USD Million)
Table 138 Europe: Battery Energy Storage Systems Market Size, by Country/Region, 2019–2028, (USD Million)
Table 139 Europe: Battery Energy Storage Systems Market Size, by Battery Type, 2019–2028, (USD Million)
Table 140 Europe: Battery Energy Storage Systems Market Size, by Component, 2019–2028, (USD Million)
Table 141 Europe: Battery Energy Storage Systems Market Size, by Connection Type, 2019–2028, (USD Million)
Table 142 Europe: Battery Energy Storage Systems Market Size, by Ownership, 2019–2028, (USD Million)
Table 143 Europe: Battery Energy Storage Systems Market Size, by Energy Capacity, 2019–2028, (USD Million)
Table 144 Europe: Battery Energy Storage Systems Market Size, by Application, 2019–2028, (USD Million)
Table 145 Germany: Battery Energy Storage Systems Market Size, by Battery Type, 2019–2028, (USD Million)
Table 146 Germany: Battery Energy Storage Systems Market Size, by Component, 2019–2028, (USD Million)
Table 147 Germany: Battery Energy Storage Systems Market Size, by Connection Type, 2019–2028, (USD Million)
Table 148 Germany: Battery Energy Storage Systems Market Size, by Ownership, 2019–2028, (USD Million)
Table 149 Germany: Battery Energy Storage Systems Market Size, by Energy Capacity, 2019–2028, (USD Million)
Table 150 Germany: Battery Energy Storage Systems Market Size, by Application, 2019–2028, (USD Million)
Table 151 U.K.: Battery Energy Storage Systems Market Size, by Battery Type, 2019–2028, (USD Million)
Table 152 U.K.: Battery Energy Storage Systems Market Size, by Component, 2019–2028, (USD Million)
Table 153 U.K.: Battery Energy Storage Systems Market Size, by Connection Type, 2019–2028, (USD Million)
Table 154 U.K.: Battery Energy Storage Systems Market Size, by Ownership, 2019–2028, (USD Million)
Table 155 U.K.: Battery Energy Storage Systems Market Size, by Energy Capacity, 2019–2028, (USD Million)
Table 156 U.K.: Battery Energy Storage Systems Market Size, by Application, 2019–2028, (USD Million)
Table 157 France: Battery Energy Storage Systems Market Size, by Battery Type, 2019–2028, (USD Million)
Table 158 France: Battery Energy Storage Systems Market Size, by Component, 2019–2028, (USD Million)
Table 159 France: Battery Energy Storage Systems Market Size, by Connection Type, 2019–2028, (USD Million)
Table 160 France: Battery Energy Storage Systems Market Size, by Ownership, 2019–2028, (USD Million)
Table 161 France: Battery Energy Storage Systems Market Size, by Energy Capacity, 2019–2028, (USD Million)
Table 162 France: Battery Energy Storage Systems Market Size, by Application, 2019–2028, (USD Million)
Table 163 Netherlands: Battery Energy Storage Systems Market Size, by Battery Type, 2019–2028, (USD Million)
Table 164 Netherlands: Battery Energy Storage Systems Market Size, by Component, 2019–2028, (USD Million)
Table 165 Netherlands: Battery Energy Storage Systems Market Size, by Connection Type, 2019–2028, (USD Million)
Table 166 Netherlands: Battery Energy Storage Systems Market Size, by Ownership, 2019–2028, (USD Million)
Table 167 Netherlands: Battery Energy Storage Systems Market Size, by Energy Capacity, 2019–2028, (USD Million)
Table 168 Netherlands: Battery Energy Storage Systems Market Size, by Application, 2019–2028, (USD Million)
Table 169 Norway: Battery Energy Storage Systems Market Size, by Battery Type, 2019–2028, (USD Million)
Table 170 Norway: Battery Energy Storage Systems Market Size, by Component, 2019–2028, (USD Million)
Table 171 Norway: Battery Energy Storage Systems Market Size, by Connection Type, 2019–2028, (USD Million)
Table 172 Norway: Battery Energy Storage Systems Market Size, by Ownership, 2019–2028, (USD Million)
Table 173 Norway: Battery Energy Storage Systems Market Size, by Energy Capacity, 2019–2028, (USD Million)
Table 174 Norway: Battery Energy Storage Systems Market Size, by Application, 2019–2028, (USD Million)
Table 175 Italy: Battery Energy Storage Systems Market Size, by Battery Type, 2019–2028, (USD Million)
Table 176 Italy: Battery Energy Storage Systems Market Size, by Component, 2019–2028, (USD Million)
Table 177 Italy: Battery Energy Storage Systems Market Size, by Connection Type, 2019–2028, (USD Million)
Table 178 Italy: Battery Energy Storage Systems Market Size, by Ownership, 2019–2028, (USD Million)
Table 179 Italy: Battery Energy Storage Systems Market Size, by Energy Capacity, 2019–2028, (USD Million)
Table 180 Italy: Battery Energy Storage Systems Market Size, by Application, 2019–2028, (USD Million)
Table 181 Spain: Battery Energy Storage Systems Market Size, by Battery Type, 2019–2028, (USD Million)
Table 182 Spain: Battery Energy Storage Systems Market Size, by Component, 2019–2028, (USD Million)
Table 183 Spain: Battery Energy Storage Systems Market Size, by Connection Type, 2019–2028, (USD Million)
Table 184 Spain: Battery Energy Storage Systems Market Size, by Ownership, 2019–2028, (USD Million)
Table 185 Spain: Battery Energy Storage Systems Market Size, by Energy Capacity, 2019–2028, (USD Million)
Table 186 Spain: Battery Energy Storage Systems Market Size, by Application, 2019–2028, (USD Million)
Table 187 Switzerland: Battery Energy Storage Systems Market Size, by Battery Type, 2019–2028, (USD Million)
Table 188 Switzerland: Battery Energy Storage Systems Market Size, by Component, 2019–2028, (USD Million)
Table 189 Switzerland: Battery Energy Storage Systems Market Size, by Connection Type, 2019–2028, (USD Million)
Table 190 Switzerland: Battery Energy Storage Systems Market Size, by Ownership, 2019–2028, (USD Million)
Table 191 Switzerland: Battery Energy Storage Systems Market Size, by Energy Capacity, 2019–2028, (USD Million)
Table 192 Switzerland: Battery Energy Storage Systems Market Size, by Application, 2019–2028, (USD Million)
Table 193 Sweden: Battery Energy Storage Systems Market Size, by Battery Type, 2019–2028, (USD Million)
Table 194 Sweden: Battery Energy Storage Systems Market Size, by Component, 2019–2028, (USD Million)
Table 195 Sweden: Battery Energy Storage Systems Market Size, by Connection Type, 2019–2028, (USD Million)
Table 196 Sweden: Battery Energy Storage Systems Market Size, by Ownership, 2019–2028, (USD Million)
Table 197 Sweden: Battery Energy Storage Systems Market Size, by Energy Capacity, 2019–2028, (USD Million)
Table 198 Sweden: Battery Energy Storage Systems Market Size, by Application, 2019–2028, (USD Million)
Table 199 Denmark: Battery Energy Storage Systems Market Size, by Battery Type, 2019–2028, (USD Million)
Table 200 Denmark: Battery Energy Storage Systems Market Size, by Component, 2019–2028, (USD Million)
Table 201 Denmark: Battery Energy Storage Systems Market Size, by Connection Type, 2019–2028, (USD Million)
Table 202 Denmark: Battery Energy Storage Systems Market Size, by Ownership, 2019–2028, (USD Million)
Table 203 Denmark: Battery Energy Storage Systems Market Size, by Energy Capacity, 2019–2028, (USD Million)
Table 204 Denmark: Battery Energy Storage Systems Market Size, by Application, 2019–2028, (USD Million)
Table 205 Rest of Europe: Battery Energy Storage Systems Market Size, by Battery Type, 2019–2028, (USD Million)
Table 206 Rest of Europe: Battery Energy Storage Systems Market Size, by Component, 2019–2028, (USD Million)
Table 207 Rest of Europe: Battery Energy Storage Systems Market Size, by Connection Type, 2019–2028, (USD Million)
Table 208 Rest of Europe: Battery Energy Storage Systems Market Size, by Ownership, 2019–2028, (USD Million)
Table 209 Rest of Europe: Battery Energy Storage Systems Market Size, by Energy Capacity, 2019–2028, (USD Million)
Table 210 Rest of Europe: Battery Energy Storage Systems Market Size, by Application, 2019–2028, (USD Million)
Table 211 Latin America: Battery Energy Storage Systems Market Size, by Battery Type, 2019–2028, (USD Million)
Table 212 Latin America: Battery Energy Storage Systems Market Size, by Component, 2019–2028, (USD Million)
Table 213 Latin America: Battery Energy Storage Systems Market Size, by Connection Type, 2019–2028, (USD Million)
Table 214 Latin America: Battery Energy Storage Systems Market Size, by Ownership, 2019–2028, (USD Million)
Table 215 Latin America: Battery Energy Storage Systems Market Size, by Energy Capacity, 2019–2028, (USD Million)
Table 216 Latin America: Battery Energy Storage Systems Market Size, by Application, 2019–2028, (USD Million)
Table 217 Middle East & Africa: Battery Energy Storage Systems Market Size, by Battery Type, 2019–2028, (USD Million)
Table 218 Middle East & Africa: Battery Energy Storage Systems Market Size, by Component, 2019–2028, (USD Million)
Table 219 Middle East & Africa: Battery Energy Storage Systems Market Size, by Connection Type, 2019–2028, (USD Million)
Table 220 Middle East & Africa: Battery Energy Storage Systems Market Size, by Ownership, 2019–2028, (USD Million)
Table 221 Middle East & Africa: Battery Energy Storage Systems Market Size, by Energy Capacity, 2019–2028, (USD Million)
Table 222 Middle East & Africa: Battery Energy Storage Systems Market Size, by Application, 2019–2028, (USD Million)
Table 223 Recent Key Developments, by Company (2019–2022)
Table 224 Global Battery Energy Storage Systems Market: Competitive Benchmarking
List of Figures
Figure 1 Currency and Limitations
Figure 2 Research Process
Figure 3 Key Secondary Sources
Figure 4 Primary Research Techniques
Figure 5 Market Size Estimation
Figure 6 Key Insights
Figure 7 Global Battery Energy Storage Systems Market Size, by Battery Type, 2029 (USD Million)
Figure 8 Global Battery Energy Storage Systems Market Size, by Component, 2029 (USD Million)
Figure 9 Global Battery Energy Storage Systems Market Size, by Connection Type, 2022 Vs. 2029 (USD Million)
Figure 10 Global Battery Energy Storage Systems Market Size, by Ownership, 2029 (USD Million)
Figure 11 Global Battery Energy Storage Systems Market Size, by Energy Capacity, 2029 (USD Million)
Figure 12 Global Battery Energy Storage Systems Market Size, by Application, 2029 (USD Million)
Figure 13 Geographic Snapshot: Global Battery Energy Storage Systems Market (Value Share and CAGR)
Figure 14 The Impact of COVID-19 on the Global Battery Energy Storage Systems Market
Figure 15 Market Dynamics
Figure 16 Value Chain Analysis: Battery Energy Storage Systems Market
Figure 17 Global Battery Energy Storage Systems Market Size, by Battery Type, 2022–2029 (USD Million)
Figure 18 Global Battery Energy Storage Systems Market Size, by Component, 2022–2029 (USD Million)
Figure 19 Global Battery Energy Storage Systems Market Size, by Connection Type, 2022–2029 (USD Million)
Figure 20 Global Battery Energy Storage Systems Market Size, by Ownership, 2022–2029 (USD Million)
Figure 21 Global Battery Energy Storage Systems Market Size, by Energy Capacity, 2022–2029 (USD Million)
Figure 22 Global Battery Energy Storage Systems Market Size, by Application, 2022–2029 (USD Million)
Figure 23 Global Battery Energy Storage Systems Market Size, by Country/Region, 2022–2029 (USD Million)
Figure 24 Global Battery Energy Storage Systems Market: Competitive Benchmarking
Figure 25 ABB Ltd: Financial Overview (2021)
Figure 26 General Electric Company: Financial Overview (2021)
Figure 27 BYD Company Limited: Financial Overview (2021)
Figure 28 Delta Electronics, Inc.: Financial Overview (2021)
Figure 29 Samsung SDI Co., Ltd.: Financial Overview (2021)
Figure 30 Panasonic Holdings Corporation: Financial Overview (2021)
Figure 31 Siemens AG: Financial Overview (2021)
Figure 32 Tesla Inc,: Financial Overview (2021)
Figure 33 Toshiba Corporation: Financial Overview (2021)
Figure 34 LG Energy Solution, Ltd.: Financial Overview (2021)
Figure 35 Honeywell International Inc.: Financial Overview (2021)
Figure 36 Hitachi, Ltd.: Financial Overview (2021)
Figure 37 NEC Corporation: Financial Overview (2021)
Figure 38 Johnson Controls International plc: Financial Overview (2021)
Figure 39 Fluence Energy, Inc: Financial Overview (2021)
Figure 40 Nextera Energy, Inc.: Financial Overview (2021)
This report provides pre & post COVID-19 market estimates.
This report provides pre & post COVID-19 market estimates.
Published Date: Feb-2023
Published Date: Jan-2023
Published Date: Oct-2022
Published Date: Sep-2022
Published Date: Jul-2022
