Energy Storage Battery for Microgrids Market, By Type (Sodium-sulfur Battery, VRLA Lead Acid, Lithium-ion, and Others), By Applications (Household, Enterprise, and Utility), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030

Report Code: PMI414220 | Publish Date: April 2023 | No. of Pages: 168

Global Energy Storage Battery For Microgrids Market Overview

Energy storage battery for microgrids is an energy storage tank. It is used to store electrical energy and supply energy when required. As compared to traditional diesel generators, battery-based energy storage is more environmentally-friendly. It significantly lowers the sizing and fuel needs for common backup generators. Even small amounts of energy storage can have a huge impact on lowering fuel costs, maintenance and omissions of diesel or bio-diesel generators.

Global Energy Storage Battery For Microgrids Market Dynamics

Rising Demand for Grid-Connected Solutions

The most important types of renewable energy sources are wind and solar that are stored in the grid. When the quantity of electricity exceeds the demand for electricity, battery energy storage systems is used by grid operators to save the electricity. The adoption of these systems increases the flexibility and reliability of the electricity supply system with respect to transmission, generation, and distribution. Siemens provides SIESTORAGE, an intelligent grid solution. SIESTORAGE is skilled to overcoming the challenges phased during the 3 main aspects of power supply—providing flexible energy for modern grids, optimizing grid connections, and supporting large energy consumers.

High capital investment needed for the deployment

Battery energy storage technologies, including flow batteries, lithium-ion batteries, and lead-acid batteries, require high capital investment owing to high-energy density and improved performance delivered by these batteries. The cost of Lithium-ion batteries are more due to their characteristics such as low rate of self-discharge, high energy density, and less maintenance requirement. Further, the high cost of lithium-ion batteries increases the battery energy storage systems, as lithium-ion batteries are embedded in the form of packs and modules.

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Global Energy Storage Battery For Microgrids Market Segmentation

The global energy storage battery for microgrids market is segmented based on type, application, and region.

On the basis of product type, the global energy storage battery for microgrids market is segmented into sodium-sulfur battery, VRLA lead acid, lithium-ion, and others. On the basis of application, the target market is segmented into household, enterprise, and utility

Regional Insights:

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

On region the global energy storage battery for microgrids market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia-Pacific is projected to have the highest growth in the target market, with a significant CAGR over the forecast period, owing to the growth of Japan. Japanese government is severely investing on battery storage industry, some of the leading players being GS Yuasa, Hitachi, NEC, Panasonic and Mitsubishi. The region alone is anticipated to accounted >50% of the global battery storage market by 2020

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Report Scope:

Attribute

Details

Base year for estimation

2019

Forecast period

2019 – 2029

Market representation

Revenue in USD Million & CAGR from 2019 to 2029

Market Segmentation

By Type - Sodium-sulfur Battery, VRLA Lead Acid, Lithium-ion, and Others

By Application – Household, Enterprise, and Utility

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the global Energy Storage Battery for Microgrids market report based on type, application, and region:

Global Energy Storage Battery for Microgrids Market, By Type:

  • Sodium-sulfur Battery
  • VRLA Lead Acid
  • Lithium-ion
  • Others

Global Energy Storage Battery for Microgrids Market, By Application:

  • Household
  • Enterprise
  • Utility

Global Energy Storage Battery for Microgrids Market, By Region:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa

Global Energy Storage Battery For Microgrids Market Key Players

The key players operating the global energy storage battery for microgrids market includes ABB Group, LG Chem, NEC, Panasonic, Samsung SDI, AEG Power Solutions, General Electric, Hitachi, Siemens AG, and Tesla. For instance, in September 2017, Panasonic (Japan) developed Japan’s first microgrid system for 117 homes. This is a combined project of ENERES, PanaHome, IBJ Leasing, and the Public Enterprises Agency. In the project, the storage battery systems are used for the residential purpose.

Global Energy Storage Battery For Microgrids Market Company Profile

  • ABB Group
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • LG Chem
  • NEC
  • Panasonic
  • Samsung SDI
  • AEG Power Solutions
  • General Electric
  • Hitachi
  • Siemens AG
  • Tesla

“*” marked represents similar segmentation in other categories in the respective section

Global Energy Storage Battery For Microgrids Market Table of Contents

Table of Contents

  1. Research Objective and Assumption
    • Preface
    • Research Objectives
    • Study Scope
    • Years considered for the study
    • Assumptions
    • Abbreviations
  2. Research Methodology
    • Research data
    • Primary Data
      • Primary Interviews
      • Primary Breakdown
      • Key data from Primary Sources
      • Key Thickness Insights
    • Secondary Data
      • Major Secondary Sources
      • Secondary Sources
    • Market Estimation
    • Top-Down Approach
      • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
    • Bottom-Up Approach
      • Approach for estimating market share by Bottom-up Analysis (Demand Side)
    • Market Breakdown and Data Triangulation
    • Research Assumptions
  3. Market Purview
    • Executive Summary
    • Key Findings—Global Outlook for Energy Storage Battery for Microgrids Strategies
      • Key Questions this Study will Answer
      • Market Snippet, By Type
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Opportunity Map Analysis
    • Executive Summary—3 Big Predictions
  4. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Market Trends
    • DR Impact Analysis
    • PEST Analysis
    • Porter’s Five Forces Analysis
    • Opportunity Orbit
    • Market Investment Feasibility Index
    • Macroeconomic Factor Analysis
  5. Global Energy Storage Battery for Microgrids Market, By Type, 2020 – 2030, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Sodium-sulfur Battery
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • VRLA Lead Acid
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Lithium-ion
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Others
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
  6. Global Energy Storage Battery for Microgrids Market, By Application, 2020 – 2030, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Household
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Enterprise
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Utility
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
  7. Global Energy Storage Battery for Microgrids Market, By Region, 2020 – 2030, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Regional Trends
    • North America
      • Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size  and Forecast (US$ Mn), By Country, 2020 – 2030
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East
  8. Competitive Landscape
    • Heat Map Analysis
    • Market Presence and Specificity Analysis
  9. Company Profiles
    • ABB Group
      • Company Overview
      • Product Portfolio
      • Key Highlights
      • Financial Overview
      • Business Strategies
    • LG Chem
    • NEC
    • Panasonic
    • Samsung SDI
    • AEG Power Solutions
    • General Electric
    • Hitachi
    • Siemens AG
    • Tesla
  10. The Last Word
    • Future Impact
    • About Us
    • Contact

FAQs

The global energy storage battery for microgrids market is segmented based on type, application, and region.

The most important types of renewable energy sources are wind and solar that are stored in the grid. When the quantity of electricity exceeds the demand for electricity, battery energy storage systems is used by grid operators to save the electricity.

On region the global energy storage battery for microgrids market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia-Pacific is projected to have the highest growth in the target market, with a significant CAGR over the forecast period, owing to the growth of Japan. Japanese government is severely investing on battery storage industry, some of the leading players being GS Yuasa, Hitachi, NEC, Panasonic and Mitsubishi. The region alone is anticipated to accounted >50% of the global battery storage market by 2020.

The key players operating the global energy storage battery for microgrids market includes ABB Group, LG Chem, NEC, Panasonic, Samsung SDI, AEG Power Solutions, General Electric, Hitachi, Siemens AG, and Tesla.