Energy Storage as a Service Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

Energy storage as a service is a facility to avail an energy storage system by entering into a service agreement, without buying the system. Energy storage systems deliver a wide range of services to generate revenue; create savings; and improve electricity resiliency. The operation of an energy storage as a service system is a unique mixture of an advanced battery storage system, an energy management system, and a service contract, which can provide value to a business by providing reliable power more economically. 

MARKET DYNAMICS 

Rising attention toward and considerable investments in renewable power energy generation is driving the growth of the energy storage as a service market. However, the fault in energy storage equipment may restrain the growth of the energy storage as a service market. Furthermore, the major economies across the world are greatly focusing on developing power generation by using renewable energy sources so as to reduce their dependency on the conventional power generation through fossil fuels is anticipated to create a market opportunity for the energy storage as a service market during the forecast period. 

MARKET SCOPE

The "Global Energy Storage as a Service Market Analysis To 2031" is a specialized and in-depth study of the energy and power industry with a special focus on the global market trend analysis. The energy storage as a service market report aims to provide an overview of the energy storage as a service market with detailed market segmentation by services, application, and geography. The global energy storage as a service market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading energy storage as a service market players and offers key trends and opportunities in the market. 

MARKET SEGMENTATION

The global energy storage as a service market is segmented on the basis of services and application. Based on services, the energy storage as a service market is segmented into: bulk energy services, ancillary services, transmission infrastructure services, distribution infrastructure services, customer energy management services, and others. On the basis of application, the energy storage as a service market is segmented into: industrial, commercial, and residential. 

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global energy storage as a service market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The energy storage as a service market by each region is later sub-segmented by respective countries and segments. The energy storage as a service market report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region. 
The report analyzes factors affecting the energy storage as a service market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i. e. , drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis highlighting factors affecting the energy storage as a service market in these regions. 

IMPACT OF COVID-19 ON ENERGY STORAGE AS A SERVICE MARKET

The impact of the COVID-19 pandemic on the market is covered throughout the report. The pandemic had a negative impact on energy storage as a service market. The government of several countries decided to impose a lockdown for restricting the flow of COVID-19. The lockdown hindered the operations of various industries, including manufacturing and construction. The majority of the manufacturing plants were either temporarily shut down or are operating with minimum staff; the supply chain of components and parts is disrupted; these are some of the critical issues faced by the global manufacturers. The outbreak has severely affected the production and revenue generation with the lower number of manufacturing staff. Thus, the factors mentioned above have had a negative impact on the growth of the energy storage as a service market globally. 

MARKET PLAYERS

The reports cover key developments in the energy storage as a service market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from energy storage as a service market are anticipated to lucrative growth opportunities in the future with the rising demand for filter products in the global market. Below mentioned is the list of few companies engaged in the energy storage as a service market. 
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the energy storage as a service market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years. 

• Customized Energy Solutions Ltd. 
• ENGIE North America
• Honeywell International Inc. 
• Hydrostor Inc. 
• NRStor Inc. 
• Spirit Energy Limited
• Siemens AG
• Suntuity
• Veolia Environnement S. A. 
• YSG Solar

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study. 

Energy Storage as a Service Report Scope