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Global Grid Scale Energy Storage Market 2016-2020

About Grid Scale Energy Storage

A grid-scale energy storage system stores power when there is excess and releases energy when there is demand such as during power outage. The increased use of intermittent renewable energy sources has resulted in the use of energy storage systems. Electricity storage primarily fills the gap between the ramping down/ ramping up time of wind/ solar powered energy generation systems. The energy storage systems provide operational support to ensure a smooth, uninterrupted flow of electricity supply. They maintain the power quality and reliability with short response time. In addition, they also smoothen the energy output of renewable sources, which are intermittent in nature.

Technavio’s analysts forecast the global grid-scale energy storage market to grow at a CAGR of 34.8% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global grid-scale energy storage market for 2016-2020. To calculate the market size, Technavio considers the revenue generated from the sales of grid-scale energy storage systems.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Grid Scale Energy Storage Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • ABB
  • Beacon Power
  • Hydrostor
  • LG Chem Johnson Controls
Other prominent vendors
  • EnerVault
  • GE
  • Samsung SDI
  • S&C Electric
  • SustainX
Market driver
  • Extensive use of energy storage technologies in utility sector
  • For a full, detailed list, view our report
Market challenge
  • Use of lead acid batteries as energy storage
  • For a full, detailed list, view our report
Market trend
  • Growing use of renewable sources
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2020 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Grid Scale Energy Storage Market 2016-2020

Technavio recognizes the following companies as the key players in the global grid scale energy storage market: ABB, Beacon Power, Hydrostor, and LG Chem.

Other Prominent Vendors in the market are: EnerVault, GE, Samsung SDI, S&C Electric, and SustainX.

Commenting on the report, an analyst from Technavio’s team said: “High demand for consistent and secure power will be a key trend for market growth. The rise in population and urbanization have resulted in an increased demand for energy. This demand is attributed to demand-supply deficit, which has led to power outage issues worldwide. One of the reasons for power outage is the substantial loss during T&D. The use of energy storage technologies reduces electricity loss, thereby improving the overall efficiency of power generation. We note that energy storage technologies make T&D more flexible, enhance the grid’s ability to meet peak demand, and also improve the overall system efficiency.”

According to the report, one of the key drivers for market growth will be the government support. Government plays an important role in determining the rate of energy storage and energy usage. Countries such as Japan, the US, India, and South Korea support the use of renewable sources of energy and therefore are providing diverse incentives and financing options. With growth in the use of renewable sources, the need for energy storage is on the rise. The government regulatory requirements such as frequency regulation, capacity payment mechanisms that reward the best backup technologies, and achieving mandatory targets are also contributing to market growth.

Further, the report states that one of the challenges for the market will be the technological risks involved. The energy storage system must be carefully chosen by taking into consideration factors such as cycle efficiency, cycle life, self-discharge rate, and power and energy density. The system has to be selected based on the required application. For instance, in places such as India and Africa, where power outages can last for more than expected, the storage systems with low discharge rates are ideal. In addition, the excessive rise in temperature could cause these batteries to degrade or shorten their life cycles. The optimal operating temperature of a lithium-ion battery is 10°C-50°C. In some cases, these batteries are known to overheat or catch fire due to thermal instability. Such instances increase the technological risk and affect the growth of the market.

Companies Mentioned

ABB, Beacon Power, Hydrostor, LG Chem, EnerVault, GE, Samsung SDI, S&C Electric, SustainX.

  • Executive summary
    • Highlights
  • Scope of the report
    • Market overview
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
      • Table Grid-scale energy storage
  • Market landscape
    • Market overview
      • Table Segmentation of global grid scale energy storage market
      • Table Energy storage application and technology
    • Market size and forecast
      • Table Global grid-scale energy storage market 2015-2020 ($ billions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by technology
    • Global grid-scale energy storage market by technology 2015-2020
      • Table Global grid-scale energy storage by technology 2015-2020
    • Global grid-scale energy storage market by technology 2015-2020
      • Table Global grid-scale energy storage market by technology 2015-2020
    • Global grid scale energy storage market by pumped hydroelectric system 2015-2020
      • Market size and forecast
        • Table Global grid scale energy storage market by pumped hydroelectric system 2015-2020 ($ billions)
        • Table Technical specification on PHS
        • Table PHS installation's contribution to electric supply based on various countries in 2014 (%)
    • Global grid scale energy storage market by others 2015-2020
      • Market size and forecast
        • Table Global grid scale energy storage market by others 2015-2020 ($ billions)
        • Table Global grid scale energy storage by technology 2015
        • Table Global grid-scale energy storage by technology 2020
        • Table Some of the operational solar CSP plants using thermal energy storage
        • Table Technical specification of CAES
        • Table Technical specification of flywheel storage
  • Geographical segmentation
    • Global grid scale energy storage market by geography
      • Table Global grid scale energy storage market by geography for 2015-2020
      • Table Global grid scale energy storage market by geographical segmentation 2015-2020
    • Grid scale energy storage market in Americas
      • Table Grid scale energy storage market in Americas 2015-2020 ($ billions)
      • Table Carbon emission by various sectors in 2014
      • Table Proposed target for California (MW)
    • Grid scale energy storage market in APAC
      • Table Grid scale energy storage market in APAC 2015-2020 ($ billions)
      • Table Energy storage market in China by 2020
    • Grid scale energy storage market in EMEA
      • Table Grid scale energy storage market in EMEA 2015-2020 ($ billions)
  • Market drivers
    • Government support
    • Increase in R&D activities
      • Table DOE addressing challenges in grid-scale energy storage market
    • Extensive use of energy storage technologies in utility sector
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Use of lead acid batteries as energy storage
      • Table Batteries technology in energy storage system
      • Table Comparison of battery technology
    • High cost of large-scale energy storage systems
    • Technological risks
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Growing use of renewable sources
      • Table Growth of renewable sources 2009-2014
    • High demand for consistent and secure power
    • Development of next-generation batteries
  • Vendor landscape
    • Competitive scenario
    • Other prominent vendors
      • Table Other prominent vendors
  • Key vendor analysis
    • ABB
      • Table Key news
    • Beacon Power
      • Table Kew news
    • Hydrostor
      • Table Key news
    • LG Chem
      • Table Recent developments
  • Appendix
    • List of abbreviations
  • Explore Technavio

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