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Grid Connected Battery Energy Storage System - Market Size, Competitive Landscape, Key Country Analysis and Forecasts to 2020

Grid Connected Battery Energy Storage System - Market Size, Competitive Landscape, Key Country Analysis and Forecasts to 2020

  • July 2016
  • 174 pages
  • ID: 4031783
  • Format: PDF
  • By GlobalData

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Grid Connected Battery Energy Storage System - Market Size, Competitive Landscape, Key Country Analysis and Forecasts to 2020

Summary
Energy storage market is a nascent but fast-growing sector. Energy storage system (ESS) devices are used widely for storing energy intended for later usage. The demand for these devices in the power sector is increasing rapidly, particularly after the increase in the renewable energy (RE) integration to grids. Intermittent power demand has generated demand for the storage of electrical energy and supply during peak loads.

Battery Energy Storage System (BESS) market is expected to grow exponentially due to its grid, generation, and consumer-side applications. The global BESS market is forecasted to be more than 14 Giga watts (GW) by 2020, up from about 1.5 GW in 2015. The deployment of BESS remained uneven during 2010–2015; however, a large number of projects are expected to be commissioned within the next five years.

The Americas region has an established BESS market, with several states in the US having mandatory targets and regulatory frameworks related to energy storage installation. The region had installed BESS projects with cumulative capacities of about 592 Megawatts (MW) by 2015 and is forecasted to reach 4.1 GW by 2020. The market value for the Americas region accounted to USD842 Million (m) in 2015 and is expected to be around USD3 billion by 2020.

Asia-Pacific (APAC) and European countries installed a considerable number of BESS projects with cumulative capacities of about 720 MW and 208 MW, respectively, by 2015. These regions are also forecasted to install 5.8 GW and 4.6 GW of BESS projects, respectively, by 2020. APAC and European nations are home to several leading energy storage companies including NGK Insulators, BYD Company, Samsung SDI, LG Chem and Saft Groupe, contributing to BESS economies of scale.

The utility-scale grid-connected BESS market is currently led by the US, followed by Japan, Germany and China. The US is expected to continue to lead the BESS market in the next five years due to regulatory framework and policies by State. The projects commissioned between 2011 and 2014 have been funded largely by the American Recovery and Reinvestment Act (ARRA).

BESS costs include the cost of energy storage equipment, installation, interconnection and other enclosure costs. Energy storage equipment has the highest share, contributing 60–70% of the total BESS cost. Falling battery prices augers well for the BESS market as it will have a major impact in reducing total BESS prices.
The cost of BESS is lower in the APAC region compared with the Americas, the Europe and the Middle East and Africa (EMEA) regions. The main reasons for low prices in the APAC region are technological advancements and low-cost labor in Japan, South Korea China and India.

The report “Grid Connected Battery Energy Storage System - Market Size, Competitive Landscape, Key Country Analysis and Forecasts to 2020” provides an overview of the energy storage market, defining various energy storage technologies and their maturity level.

In particular, this report provides the following analysis -
- Provides in-depth analysis of the global BESS market and market analysis of key countries including the US, Chile, Germany, Italy, the UK, France, China, India, Japan, South Korea, and Australia.
- Analyzes the regional and country-level BESS market value for the historical (2006-2015) and forecast (2016-2020) periods.
- Provides regional and country-level BESS market share by technology and application by 2015.
- Provides competitive landscape with profiles of key market players globally and in various countries in 2015.
- Provides BESS cost analysis and historic and forecast market size by technology and application.
- Provides qualitative analysis of key regulations, market drivers and restraints impacting the energy storage industry.

Companies mentioned in this report: NGK Insulators, BYD Company, BYD Company, A123 Systems, Samsung SDI, LG Chem, ABB Ltd, S&C Electric, Parker Hannifin, AES Energy Storage, Saft Groupe SA, GS Yuasa International, SonnenEnergie GmbH, Panasonic Corporation, General Electric Company, Siemens AG, Hitachi, Younicos AG, Exide Industries.

Scope
- Analysis of the growth of the energy storage industry with a focus on battery energy storage market and its demand in various key regions, including Asia-Pacific, America and Europe.
- Apart from global and regional analysis, the report provides BESS market analysis in key countries including the US, Chile, Germany, Italy, the UK, France, China, India, Japan, South Korea, and Australia.
- The report provides BESS cost analysis and historic and forecast market size by technology and application.
- It provides competitive landscape with profiles of key market players globally and in various countries in 2015.
- Brief description of upcoming and under construction projects in the battery storage market.
- Qualitative analysis of key regulations, market drivers and restraints impacting the energy storage industry.

Reasons to buy
The report will allow you to -
- Facilitate decision-making by analyzing historical and forecast data on BESS market
- Develop strategies based on developments in the BESS market
- Identify key partners and business-development avenues, based on an understanding of the movements of the major competitors in the BESS market
- Respond to your competitors’ business structure, strategies and prospects

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