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

MARKET INTRODUCTION

The energy storage systems (ESS) offers a broad spectrum of technological approaches which are useful to manage the power supply. It helps in developing better resilient energy infrastructure while boosting cost savings to consumers and utilities. The technologies such as flywheels, solid-state batteries, pumped hydro-power, thermal, flow batteries, and compressed air energy under ESS are deployed heavily around the globe as per the application. 

MARKET DYNAMICS

High usage of electric vehicles among the public and perks provided by governmental bodies for promoting electric vehicles are some of the factors responsible for driving the energy storage systems market. Nevertheless, many developing countries are taking initiatives to improve the renewable power generation methods, which is expected to benefit players operating in the energy storage systems market.

MARKET SCOPE

The "Global Energy Storage Systems Market Analysis to 2031" is a specialized and in-depth study of the electronics and semiconductor industry with a special focus on the global market trend analysis. The report aims to provide an overview of the energy storage systems market with detailed market segmentation by technology, application, and geography. The global energy storage systems 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 systems market players and offers key trends and opportunities in the market.

MARKET SEGMENTATIONs

The global energy storage systems market is segmented on the basis of technology and application. Based on technology, the market is segmented into pumped hydro storage, flywheel, compressed air, nickel cadmium, sodium sulphur, lithium, and lead acid. On the basis of application, the energy storage systems market is segmented into on-grid and off-grid.

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 systems 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 Systems market by each region is later sub-segmented by respective countries and segments. The 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 systems 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 for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the energy storage systems in these regions.

MARKET PLAYERS

The reports cover key developments in the energy storage systems 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 systems market are anticipated to lucrative growth opportunities in the future with the rising demand for Energy Storage Systems in the global market. Below mentioned is the list of few companies engaged in the energy storage systems market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the energy storage systems 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.

• ABB Ltd.
• Altairnano
• Active Power (Piller Group GmbH)
• BYD Co Ltd
• Evapco Inc.
• GS Yuasa Corporation
• Hitachi Ltd.
• Maxwell Technologies, Inc.
• Siemens AG
• The Furukawa Battery Co.,Ltd. (The Furukawa Electric Co.,Ltd.)

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 Systems Report Scope