DUBLIN--(BUSINESS WIRE)--The "Battery Energy Storage Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Amid the COVID-19 crisis, the global market for Battery Energy Storage Systems estimated at US$3.2 Billion in the year 2020, is projected to reach a revised size of US$12.9 Billion by 2026, growing at a CAGR of 26.1% over the analysis period.

Battery, one of the segments analyzed in the report, is projected to grow at a 27.8% CAGR to reach US$11.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Other Elements segment is readjusted to a revised 22.3% CAGR for the next 7-year period.

The Battery Energy Storage Systems market in the U.S. is estimated at US$1 Billion in the year 2021. The country currently accounts for a 27.61% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$2.4 Billion in the year 2026 trailing a CAGR of 32.6% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 20.5% and 25.7% respectively over the analysis period.

Within Europe, Germany is forecast to grow at approximately 24.3% CAGR while Rest of European market (as defined in the study) will reach US$709.3 Million by the end of the analysis period. North America is a key market for battery energy storage systems, stimulated by the growing adoption of renewable energy storage systems in the utility, non-residential, and residential sectors. In the region, lithium-ion battery storage systems are registering considerable demand, as they are increasingly being leveraged for storing energy from renewable energy sources.

In the Asia-Pacific, the growing focus on distributed power generation, and increasing renewable energy penetration are likely to aid market growth. Investments in energy storage are likely to rise considerably across the region, with governments formulating novel policies to enhance the quality and reliability of power distribution facilities for households.

Select Competitors (Total 85 Featured):

• ABB Group
• AEG Power Solutions BV
• Alevo Group SA
• Corvus Energy
• East Penn Manufacturing Co., Inc.
• EnerDel, Inc.
• Exergonix
• GE Power
• Hitachi Ltd.
• LG Chem Ltd.
• Mitsubishi Heavy Industries Ltd.
• NEC Energy Solutions
• NGK Insulators Ltd.
• Panasonic Corporation
• Samsung SDI Co., Ltd
• Siemens AG
• Tesla, Inc.
• The AES Corporation
• Toshiba Infrastructure Systems & Solutions
• TrinaBESS

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Impact of COVID-19 Pandemic and Looming Global Recession: 2020 Marked as a Year of Disruption & Transformation
• As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021?
• Disruption to Supply Chains Impacts Battery Materials Market Prospects
• COVID-19 Crisis Underlines the Need for Sustainable Development
• Post Pandemic Period Presents Robust Growth for Energy Storage Technologies
• An Introduction to Battery Energy Storage Systems
• The Technologies
• Key Applications of BESS
• Global Market Prospects & Outlook
• Grid Modernization Initiatives Drive the World Battery Energy Storage Systems Market
• Pandemic Impacts the Market Over the Short Term

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Key Trends Driving the Battery Energy Storage Systems Market
• Growth of Intermittent Renewable Energy Sources and the Resulting Need for Energy Storage: A Key Opportunity for Battery Energy Storage Systems
• Investment Scenario on Renewable Energy Remains Impacted
• Inevitable Rise in Energy Demand Post COVID-19 to Throw Spotlight on Renewable Energy & Energy Storage Technologies
• Burgeoning Global Population Propels Demand for Electric Power
• Growing Investments in Renewable Energy to Trigger Growth in Energy Storage Domain
• Optimization of Plant Efficiency Using Smart Solutions for Energy Storage
• Established Image of Lithium-ion Batteries to Drive Market Momentum
• Li-ion Batteries Vs Flow Batteries
• Flow Batteries: One of the Key Battery Chemistries of BESS
• Growing Opportunities for Flow Batteries in Clean Energy Space
• New Solar Flow Battery with Increased Energy Conversion Efficiency
• Pandemic Impact on the Vanadium Redox Battery Market
• Vanadium Redox Flow Batteries Face Stiff Challenge in Replacing Li-ion Batteries for Utility-Scale Storage
• Utilities: The Major End-Use Market for Battery Energy Storage Systems
• Need for Improved Energy Management amidst Increasing Demand for Electricity Benefits Market Expansion
• Grid Modernization Programs Emphasize Grid Connected Energy Storage
• Smart Grids Elevate the Prospects for BESS
• Residential Applications to Witness Increased Penetration of BESS in the Long Run
• Robust Outlook for EVs Opens New Avenues of Growth for EV Batteries & BESS Integrated EVCS Market
• With COVID-19 Pandemic Affecting EV Sales, Prospects Hit for Battery Materials and BESS Market
• Increasing Importance of Batteries in the Modern World Presents Opportunities for Cathode Materials
• Recycling of Battery Systems
• Challenges Confronting the Global Battery Storage System Market

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/6u9kb4

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