Global Off-grid Energy Storage Market 2015-2019

Global Off-grid Energy Storage Market 2015-2019

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Published on Nov 11, 2015 - 70 pages

Market outlook of the global off-grid energy storage market
Energy storage systems are used to store excess electricity that can be utilized during power shortages, blackouts, and peak hours of demand. The global market for off-grid energy storage is driven by the need to maintain off-grid issues like grid stability, grid flexibility, and frequency regulation. These factors promote growth in this market during the forecast period and results in its steady CAGR of nearly 7.5% by 2019.

Technavio's market research analyst has estimated eminent factors, such as its ability to mitigate intermittent nature of renewables, to drive market growth during the period of 2014 and 2019. Energy storage helps in the smoothing and supply shift of renewable energy sources like wind and solar PV. It also helps to optimize the variable renewable energy feed-in to the grid, which is expected to drive the market for battery based energy storage during the forecast period.

Competitive landscape and key vendors
This market is dominated by multiple global, regional, and local vendors who provide high-tech, customized batteries for energy storage. The development and introduction of Li-ion, sodium-sulphur, and advanced lead-acid battery products during the forecast is expected to augment the revenue-generating capacity for vendors as it helps them to overcome competition and gain prominence in the market.

Key vendors in this market are -
  • Aquion Energy
  • Green Charge
  • LG Chem
  • NEC Energy Solutions
  • NRG Energy
Other prominent vendors analyzed in this market study are GE Energy Storage, Mitsubishi Heavy Industries, Amperex Technology Limited, Boston Power, China Avaiation Lithium Battery Co., Ltd., Enersys, Primus Power, Sumitomo Electric Industries, Ltd., Toshiba, and Xtreme Power Inc.

Technological segmentation of the off-grid energy storage market
  • Li-ion battery
  • Sodium-based battery
  • Lead-acid battery
  • Others
In this market research report, analysts envisage the Li-ion battery segment to dominate the global market for off-grid energy storage during the forecast period. Factors like its increasing efficiency and decreasing price are expected to account for its high market share of nearly 45% by 2019.

Geographical segmentation of the off-grid energy storage market
  • Americas
  • EMEA
  • APAC
In this market research, Technavio analysts estimate the Americas to account for the largest market share during the forecast period. This region's high market share can be attributed to factors like the introduction of favorable government policies, the rising adoption of microgrids, and the consumer-driven interest to reduce CO2 emissions.

Key questions answered in the report include
  • What will the market size and the growth rate be in 2019?
  • What are the key factors driving the global off-grid energy storage market?
  • What are the key market trends impacting the growth of the global off-grid energy storage market?
  • What are the challenges to market growth?
  • Who are the key vendors in the global off-grid energy storage market?
  • What are the market opportunities and threats faced by the vendors in the global off-grid energy storage market?
  • Trending factors influencing the market shares of the EMEA, Americas, and APAC?
  • What are the key outcomes of the five forces analysis of the global off-grid energy storage market?
Technavio also offers customization on reports based on specific client requirement.

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Table of Contents

PART 01: Executive summary
Highlights
PART 02: Scope of the report
Market overview
PART 03: Market research methodology
Research methodology
Economic indicators
PART 04: Introduction
Key market highlights
PART 05: Market landscape
Market overview
Market size and forecast
Five forces analysis
PART 06: Market segmentation by technology
Global off-grid energy storage market by technology 2014
Global off-grid energy storage market by technology 2019
Global off-grid energy storage market by Li-ion batteries
Global off-grid energy storage market by lead-acid batteries
Global off-grid energy storage market by sodium-based batteries
PART 07: Geographical segmentation
Global off-grid energy storage market by geographical segmentation 2014
Global off-grid energy storage market by geographical segmentation 2019
Off-grid energy storage market in Americas
Off-grid energy storage market in EMEA
Off-grid energy storage market in APAC
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
Competitive scenario
Other prominent vendors
PART 14: Key vendor analysis
Aquion Energy
Green Charge
LG Chem
NEC Energy Solutions
NRG Energy
PART 15: Appendix
List of abbreviation
PART 16: Explore Technavio
List of Exhibits
Exhibit 01: Product offerings
Exhibit 02: Global off-grid energy storage market 2014-2019 ($ billions)
Exhibit 03: Five forces analysis
Exhibit 04: Global off-grid energy storage market by technology 2014
Exhibit 05: Global off-grid energy storage market by technology 2019
Exhibit 06: Global off-grid energy storage market by technology 2014-2019
Exhibit 07: Global off-grid energy storage market by Li-ion batteries 2014-2019 ($ billions)
Exhibit 08: Global off-grid energy storage market by lead-acid batteries 2014-2019 ($ billions)
Exhibit 09: Global off-grid energy storage market by sodium-based batteries 2014-2019 ($ billions)
Exhibit 10: Global off-grid energy storage market by geographical segmentation 2014
Exhibit 11: Global off-grid energy storage market by geographical segmentation 2019
Exhibit 12: Global off-grid energy storage market by geographical segmentation 2014-2019
Exhibit 13: Off-grid energy storage market in Americas 2014-2019 ($ billions)
Exhibit 14: Off-grid energy storage market in EMEA 2014-2019 ($ billions)
Exhibit 15: Off-grid energy storage market in APAC 2014-2019 ($ billions)
Exhibit 16: Frequency regulation projects for ESS in US (MW)
Exhibit 17: Requirements of various energy services
Exhibit 18: Impact of drivers


Companies Mentioned:

Aquion Energy
Green Charge
LG Chem
NEC Energy Solutions
NRG Energy
GE Energy Storage
Mitsubishi Heavy Industries
Amperex Technology Limited
Boston Power
China Avaiation Lithium Battery Co.
Ltd.
Enersys
Primus Power
Sumitomo Electric Industries
Ltd.
Toshiba
Xtreme Power Inc.