The Global Energy Storage Battery Market size expected to grow from USD 3.19 billion in 2017 to USD 7.99 billion by 2025. Due to the increase in production and efficient distribution and supply of electricity, market for energy storage battery is growing globally. Batteries with stored energy can be used in case of fluctuations in power supply. These fluctuations can be stabilized with the help of energy storage batteries.
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Increase in the consumption of solar power drives the Energy Storage Battery Market:
Solar power energy market has been a rapidly growing segment and a major factor to drive the demand for energy storage batteries. Germany is leading in technology for energy storage battery. Global demand for solar power and other renewable energy consumption will probably increase giving more scope for Energy Storage Battery Market growth.
Major Manufactures of Energy Storage Battery Market:
- NGK Insulators Ltd.
- Sungrow-Samsung SDI Energy Storage Power Supply Co.
- SMA Solar Technology AG
- AEG Power Solutions,
- Tesla Energy Operations Inc. (SolarCity)
Europe is one of the biggest players in the market of energy storage battery. Nordic countries expect to experience a strong demand for commercial and industrial energy storage system. Asia Pacific is anticipated to experience a peak growth rate over the forecast period. Owing to innovations in the energy sector, China is expected to increase the growth of global energy storage battery market. Countries such as Colombia, Brazil, Chile, Uruguay, Panama are rapidly moving towards the use of natural gas, wind and solar.
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Developments observed in Energy Storage Battery Market Growth:
- In February 2018, JLM Energy installed greater than 2000 Phazr units of MicroStorage which is successfully managing domestic time of use for the consumers in California.
- In October 2017, Holyoke Gas & Electric and ENGIE North America declared plans for largest utility scale energy storage installation in Massachusetts.
***Key segmentation of the global Energy Storage Battery Market:
On the basis of Type, Energy Storage Battery industry segmented as follows;
- All-vanadium flow battery
- Zinc-bromine flow battery
On the basis of Applications, Energy Storage Battery industry segmented as follows;
- Utility solution
- Residential solution
- Non-Residential solution
Regions covered in Energy Storage Battery industry report:
- Asia Pacific
- Latin America
Major Points from TOC of Energy Storage Battery Market:
Chapter 1 Executive Summary
Chapter 2 Research Methodology
Chapter 3 Battery Energy Storage Market Outlook
Chapter 4 Energy Storage Battery Market Overview, By Type
- Lithium-ion battery
- Key trends
- Battery Energy Storage system Market drivers
- Battery Energy Storage system restraints
- Battery Energy Storage system opportunities
- All-vanadium flow battery
- Zinc-bromine battery
Chapter 5 Energy Storage Battery Market Overview, By Application
- Utility solutions
- Residential solutions
- Non-residential solutions
Chapter 6 Energy Storage Battery Market Overview, By Region
Chapter 7 Battery Energy Storage Market Structure
Chapter 8 Company Profiles
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List of Tables present in the Energy Storage Battery Market report:
- Key highlights of the global energy storage battery market
- List of other vendors
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