Energy storage is the capture of energy produced at one time for use at a later time. A device that stores energy is generally called an accumulator or battery.
In the coming years there is an increasing demand for Energy Storage Systems (ESS) in the regions of Europe and United States that is expected to drive the market for more advanced Energy Storage Systems (ESS). Increasing of residential fields expenditures, more-intense competition, launches in introducing new products, retrofitting and renovation of old technology, increasing adoption of Energy Storage Systems (ESS) will drive growth in global market.
The Energy Storage Systems (ESS) industry market is low concentrated as the manufacturing technology of Energy Storage Systems (ESS) is relatively matures than some high-tech equipment. And some enterprises, like Samsung SDI, LG Chem, Hitachi, Kokam, etc. are well-known for the wonderful performance of their Energy Storage Systems (ESS) and related services. At the same time, Asia-Pacific, occupied 40% sales market share in 2018, is remarkable in the global Energy Storage Systems (ESS) industry because of their lowest cost of raw material and labor.
According to this study, over the next five years the Energy Storage Systems (ESS) market will register a 27.9% CAGR in terms of revenue, the global market size will reach US$ 9373.6 million by 2024, from US$ 2736 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Energy Storage Systems (ESS) business, shared in Chapter 3.
This report presents a comprehensive overview, market shares, and growth opportunities of Energy Storage Systems (ESS) market by product type, application, key manufacturers and key regions and countries.
This study considers the Energy Storage Systems (ESS) value and volume generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
Utility & Commercial
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Middle East & Africa
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
SMA Solar Technology
Lockheed Martin Energy
Eos Energy Storage
Con Edison Solutions
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To study and analyze the global Energy Storage Systems (ESS) consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Energy Storage Systems (ESS) market by identifying its various subsegments.
Focuses on the key global Energy Storage Systems (ESS) manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Energy Storage Systems (ESS) with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Energy Storage Systems (ESS) submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.