Energy Storage Technology Market is expected to reach US$ 422.68 Bn. by 2029 with a CAGR of 6.9%, during the forecast period. The report has covered the analysis of different factors that affects the dynamics of market growth positively or negatively. It constitutes the trends, restraints, and drivers by region, end user, segments and technology that will give deep insights of the market and industry to the readers. Increasing demand of the energy supply leads to the energy storage and to the need to capture the energy produced at one time for using it later. It also includes the conversion of the energy from one form to the one, more economically suitable, convenient and storable due to difficulty of storage in the same form. Some technologies used in this sector provide short term energy storage and some endure for long period. In this segmentation the long period or the Bulk energy storage is dominating the market which attributed to hydroelectric dams.To know about the Research Methodology :- Request Free Sample Report Drivers: The population growth and increasing rate of the energy consumption have made governments and other authorities to focus on the alternative to the conventional energy production methods as well as conventional storage technologies. It also insist upon the renewable energy production and the storage technologies. The investments in the renewable energy, the growth in the electric vehicles market across the globe, the governments changing regulatory policies are expecting energy efficiency in the certain period of time. The advancement in the battery production such as fast charging and vast range of applications and deployment of the energy storage technologies are expected to drive the demand of the energy storage technology market. Restrains of the Market: As the COVID-19 pandemic has severely affected most of the industries the growth of this industry also has undergone through the immense crisis in 2021. The global market of energy storage technology also has gone through the investment crunch. Apart from that the initial investment needed for the installation of the setup, the material used in the technologies such as lithium-ion batteries, flow batteries and sodium sulphur (NaS) batteries require huge capital compared to the other technologies. The maintenance cost is also high. These factors work as the major restraining factors of the energy storage technology market.
Energy Storage Technology Market Segmentation:
Global energy storage technology market is segmented by application into transportation and grid storage in which transportation segment is expected to dominate the market with the largest market share of xx% in forecast period. The growth of this segment is driven by the increasing use of the electric vehicles which resulted in the utilization of the lithium-ion batteries. Energy storage technology market is segmented by different technologies used into electro-chemical, Mechanical and Thermal storage. Electro chemical segment is growing with high pace with the CAGR of xx% in forecast period thanks to the sub segment, lithium-ion which has the majority share of xx% of the global energy storage market. The report covers the analysis of various factors that determine regional growth with reference to its economy, environment, technological advancements, societal patterns, and political circumstances of the particular region as well as particular country. It also analyses the data of revenue, sales, and manufacturers of each region. By region, the energy storage technology market is dominated Asia-Pacific with xx% share of the global energy storage technology market. Increasing urbanisation and industrialization in the region in developing countries with huge population India are witnessing the endless demand for the electricity. These factors are expected to drive the energy storage technology market. China, India and South Korea are among countries dominating the market in the region. In North America and Europe, the developed countries like US, UK, Germany are actively investing in renewable energy storage programs to achieve the goals set by the United Nations Sustainable Energy initiatives. It will lead to the significant growth in the energy storage technology market. The report includes analysis of the impact of COVID-19 lockdown on the revenue of market-leader, followers and disrupters. Since lockdown was implemented, different fields, regions and countries, impact of same is also different by region and segments. The report has covered short term and long tern impact of the market, which will help decision makers to prepare the outline for short term and long strategies for companies by regions.Energy Storage Technology Market Competitive Landscape
The report provides competitive landscape of the Global Energy Storage Technology Market with the company market structure and market share analysis of the key market players. The objective of the report is to present a comprehensive analysis of the Global Energy Storage Technology Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Energy Storage Technology Market dynamics, structure by analysing the market segments and project the Global Energy Storage Technology Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Raw material portfolio, growth strategies, and regional presence in the Global Energy Storage Technology Market makes the report investor’s guide.Energy Storage Technology Market Scope: Inquire before buying
Energy Storage Technology Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2018 to 2022 Market Size in 2022: US $ 264.95 Bn. Forecast Period 2023 to 2029 CAGR: 6.9% Market Size in 2029: US $ 422.68 Bn. Segments Covered: by Application Transportation Grid Storage by End-User Residential Non-Residential by Technology Electro Chemical Mechanical Thermo Chemical Energy Storage Technology Market, By Region
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)Energy Storage Technology Market Key Players
1. Power Hawaiian Electric Company, Inc. 2. Alstom 3. ABB Ltd. 4. General Electric 5. AES Corporation 6. Eos Energy Storage 7. S&C Electric Company 8. SEEO, Inc. 9. Aquion Energy 10.Green Charge Networks 11.LG chem. 12.Princeton Power 13.NEC Corporation 14.NRG Energy. Frequently Asked Questions: 1. Which region has the largest share in Global Energy Storage Technology Market? Ans: North America region held the highest share in 2022. 2. What is the growth rate of Global Energy Storage Technology Market? Ans: The Global Market is growing at a CAGR of 6.9% during forecasting period 2023-2029. 3. What is scope of the Global market report? Ans: Global Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global market? Ans: The important key players in the Global Market are – Power Hawaiian Electric Company, Inc., Alstom, ABB Ltd., General Electric, AES Corporation, Eos Energy Storage, S&C Electric Company, SEEO, Inc., Aquion Energy, Green Charge Networks, LG chem., Princeton Power, NEC Corporation, and NRG Energy. 5. What is the study period of this market? Ans: The Global Market is studied from 2022 to 2029.
1. Energy Storage Technology Market Introduction 1.1. Study Assumption and Market Definition 1.2. Scope of the Study 1.3. Executive Summary 2. Energy Storage Technology Market: Dynamics 2.1. Energy Storage Technology Market Trends by Region 2.1.1. North America Energy Storage Technology Market Trends 2.1.2. Europe Energy Storage Technology Market Trends 2.1.3. Asia Pacific Energy Storage Technology Market Trends 2.1.4. Middle East and Africa Energy Storage Technology Market Trends 2.1.5. South America Energy Storage Technology Market Trends 2.2. Energy Storage Technology Market Dynamics by Region 2.2.1. North America 2.2.1.1. North America Energy Storage Technology Market Drivers 2.2.1.2. North America Energy Storage Technology Market Restraints 2.2.1.3. North America Energy Storage Technology Market Opportunities 2.2.1.4. North America Energy Storage Technology Market Challenges 2.2.2. Europe 2.2.2.1. Europe Energy Storage Technology Market Drivers 2.2.2.2. Europe Energy Storage Technology Market Restraints 2.2.2.3. Europe Energy Storage Technology Market Opportunities 2.2.2.4. Europe Energy Storage Technology Market Challenges 2.2.3. Asia Pacific 2.2.3.1. Asia Pacific Energy Storage Technology Market Drivers 2.2.3.2. Asia Pacific Energy Storage Technology Market Restraints 2.2.3.3. Asia Pacific Energy Storage Technology Market Opportunities 2.2.3.4. Asia Pacific Energy Storage Technology Market Challenges 2.2.4. Middle East and Africa 2.2.4.1. Middle East and Africa Energy Storage Technology Market Drivers 2.2.4.2. Middle East and Africa Energy Storage Technology Market Restraints 2.2.4.3. Middle East and Africa Energy Storage Technology Market Opportunities 2.2.4.4. Middle East and Africa Energy Storage Technology Market Challenges 2.2.5. South America 2.2.5.1. South America Energy Storage Technology Market Drivers 2.2.5.2. South America Energy Storage Technology Market Restraints 2.2.5.3. South America Energy Storage Technology Market Opportunities 2.2.5.4. South America Energy Storage Technology Market Challenges 2.3. PORTER’s Five Forces Analysis 2.4. PESTLE Analysis 2.5. Technology Roadmap 2.6. Regulatory Landscape by Region 2.6.1. North America 2.6.2. Europe 2.6.3. Asia Pacific 2.6.4. Middle East and Africa 2.6.5. South America 2.7. Key Opinion Leader Analysis For Energy Storage Technology Industry 2.8. Analysis of Government Schemes and Initiatives For Energy Storage Technology Industry 2.9. Energy Storage Technology Market Trade Analysis 2.10. The Global Pandemic Impact on Energy Storage Technology Market 3. Energy Storage Technology Market: Global Market Size and Forecast by Segmentation by Demand and Supply Side (by Value in USD Million) 2022-2029 3.1. Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 3.1.1. Transportation 3.1.2. Grid Storage 3.2. Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 3.2.1. Residential 3.2.2. Non-Residential 3.3. Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 3.3.1. Electro Chemical 3.3.2. Mechanical 3.3.3. Thermo Chemical 3.4. Energy Storage Technology Market Size and Forecast, by Region (2022-2029) 3.4.1. North America 3.4.2. Europe 3.4.3. Asia Pacific 3.4.4. Middle East and Africa 3.4.5. South America 4. North America Energy Storage Technology Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 4.1. North America Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 4.1.1. Transportation 4.1.2. Grid Storage 4.2. North America Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 4.2.1. Residential 4.2.2. Non-Residential 4.3. North America Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 4.3.1. Electro Chemical 4.3.2. Mechanical 4.3.3. Thermo Chemical 4.4. North America Energy Storage Technology Market Size and Forecast, by Country (2022-2029) 4.4.1. United States 4.4.1.1. United States Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 4.4.1.1.1. Transportation 4.4.1.1.2. Grid Storage 4.4.1.2. United States Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 4.4.1.2.1. Residential 4.4.1.2.2. Non-Residential 4.4.1.3. United States Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 4.4.1.3.1. Electro Chemical 4.4.1.3.2. Mechanical 4.4.1.3.3. Thermo Chemical 4.4.2. Canada 4.4.2.1. Canada Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 4.4.2.1.1. Transportation 4.4.2.1.2. Grid Storage 4.4.2.2. Canada Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 4.4.2.2.1. Residential 4.4.2.2.2. Non-Residential 4.4.2.3. Canada Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 4.4.2.3.1. Electro Chemical 4.4.2.3.2. Mechanical 4.4.2.3.3. Thermo Chemical 4.4.3. Mexico 4.4.3.1. Mexico Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 4.4.3.1.1. Transportation 4.4.3.1.2. Grid Storage 4.4.3.2. Mexico Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 4.4.3.2.1. Residential 4.4.3.2.2. Non-Residential 4.4.3.3. Mexico Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 4.4.3.3.1. Electro Chemical 4.4.3.3.2. Mechanical 4.4.3.3.3. Thermo Chemical 5. Europe Energy Storage Technology Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 5.1. Europe Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 5.2. Europe Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 5.3. Europe Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 5.4. Europe Energy Storage Technology Market Size and Forecast, by Country (2022-2029) 5.4.1. United Kingdom 5.4.1.1. United Kingdom Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 5.4.1.2. United Kingdom Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 5.4.1.3. United Kingdom Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 5.4.2. France 5.4.2.1. France Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 5.4.2.2. France Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 5.4.2.3. France Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 5.4.3. Germany 5.4.3.1. Germany Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 5.4.3.2. Germany Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 5.4.3.3. Germany Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 5.4.4. Italy 5.4.4.1. Italy Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 5.4.4.2. Italy Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 5.4.4.3. Italy Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 5.4.5. Spain 5.4.5.1. Spain Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 5.4.5.2. Spain Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 5.4.5.3. Spain Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 5.4.6. Sweden 5.4.6.1. Sweden Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 5.4.6.2. Sweden Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 5.4.6.3. Sweden Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 5.4.7. Austria 5.4.7.1. Austria Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 5.4.7.2. Austria Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 5.4.7.3. Austria Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 5.4.8. Rest of Europe 5.4.8.1. Rest of Europe Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 5.4.8.2. Rest of Europe Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 5.4.8.3. Rest of Europe Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 6. Asia Pacific Energy Storage Technology Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 6.1. Asia Pacific Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 6.2. Asia Pacific Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 6.3. Asia Pacific Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 6.4. Asia Pacific Energy Storage Technology Market Size and Forecast, by Country (2022-2029) 6.4.1. China 6.4.1.1. China Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 6.4.1.2. China Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 6.4.1.3. China Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 6.4.2. S Korea 6.4.2.1. S Korea Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 6.4.2.2. S Korea Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 6.4.2.3. S Korea Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 6.4.3. Japan 6.4.3.1. Japan Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 6.4.3.2. Japan Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 6.4.3.3. Japan Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 6.4.4. India 6.4.4.1. India Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 6.4.4.2. India Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 6.4.4.3. India Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 6.4.5. Australia 6.4.5.1. Australia Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 6.4.5.2. Australia Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 6.4.5.3. Australia Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 6.4.6. Indonesia 6.4.6.1. Indonesia Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 6.4.6.2. Indonesia Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 6.4.6.3. Indonesia Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 6.4.7. Malaysia 6.4.7.1. Malaysia Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 6.4.7.2. Malaysia Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 6.4.7.3. Malaysia Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 6.4.8. Vietnam 6.4.8.1. Vietnam Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 6.4.8.2. Vietnam Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 6.4.8.3. Vietnam Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 6.4.9. Taiwan 6.4.9.1. Taiwan Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 6.4.9.2. Taiwan Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 6.4.9.3. Taiwan Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 6.4.10. Rest of Asia Pacific 6.4.10.1. Rest of Asia Pacific Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 6.4.10.2. Rest of Asia Pacific Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 6.4.10.3. Rest of Asia Pacific Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 7. Middle East and Africa Energy Storage Technology Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 7.1. Middle East and Africa Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 7.2. Middle East and Africa Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 7.3. Middle East and Africa Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 7.4. Middle East and Africa Energy Storage Technology Market Size and Forecast, by Country (2022-2029) 7.4.1. South Africa 7.4.1.1. South Africa Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 7.4.1.2. South Africa Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 7.4.1.3. South Africa Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 7.4.2. GCC 7.4.2.1. GCC Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 7.4.2.2. GCC Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 7.4.2.3. GCC Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 7.4.3. Nigeria 7.4.3.1. Nigeria Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 7.4.3.2. Nigeria Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 7.4.3.3. Nigeria Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 7.4.4. Rest of ME&A 7.4.4.1. Rest of ME&A Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 7.4.4.2. Rest of ME&A Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 7.4.4.3. Rest of ME&A Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 8. South America Energy Storage Technology Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 8.1. South America Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 8.2. South America Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 8.3. South America Energy Storage Technology Market Size and Forecast, by Technology(2022-2029) 8.4. South America Energy Storage Technology Market Size and Forecast, by Country (2022-2029) 8.4.1. Brazil 8.4.1.1. Brazil Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 8.4.1.2. Brazil Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 8.4.1.3. Brazil Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 8.4.2. Argentina 8.4.2.1. Argentina Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 8.4.2.2. Argentina Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 8.4.2.3. Argentina Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 8.4.3. Rest Of South America 8.4.3.1. Rest Of South America Energy Storage Technology Market Size and Forecast, by Application (2022-2029) 8.4.3.2. Rest Of South America Energy Storage Technology Market Size and Forecast, by End User (2022-2029) 8.4.3.3. Rest Of South America Energy Storage Technology Market Size and Forecast, by Technology (2022-2029) 9. Global Energy Storage Technology Market: Competitive Landscape 9.1. MMR Competition Matrix 9.2. Competitive Landscape 9.3. Key Players Benchmarking 9.3.1. Company Name 9.3.2. Business Segment 9.3.3. End-user Segment 9.3.4. Revenue (2022) 9.3.5. Company Locations 9.4. Leading Energy Storage Technology Market Companies, by market capitalization 9.5. Market Structure 9.5.1. Market Leaders 9.5.2. Market Followers 9.5.3. Emerging Players 9.6. Mergers and Acquisitions Details 10. Company Profile: Key Players 10.1. Power Hawaiian Electric Company, Inc. 10.1.1. Company Overview 10.1.2. Business Portfolio 10.1.3. Financial Overview 10.1.4. SWOT Analysis 10.1.5. Strategic Analysis 10.1.6. Scale of Operation (small, medium, and large) 10.1.7. Details on Partnership 10.1.8. Regulatory Accreditations and Certifications Received by Them 10.1.9. Awards Received by the Firm 10.1.10. Recent Developments 10.2. Alstom 10.3. ABB Ltd. 10.4. General Electric 10.5. AES Corporation 10.6. Eos Energy Storage 10.7. S&C Electric Company 10.8. SEEO, Inc. 10.9. Aquion Energy 10.10. Green Charge Networks 10.11. LG chem. 10.12. Princeton Power 10.13. NEC Corporation 10.14. NRG Energy 11. Key Findings 12. Industry Recommendations 13. Energy Storage Technology Market: Research Methodology 14. Terms and Glossary