Market Research Logo

Global Off-grid Energy Storage System Market 2016-2020

Global Off-grid Energy Storage System Market 2016-2020

About Off-Grid Power Generation Systems

Off-grid power generation systems are generally used when there are capital limitations or the physical landscape makes it tough to have a grid connection. Off-grid energy storage systems are used in localities that are far away from populated areas or cities and not connected to any electricity grid. In these regions, despite the presence of independent power supply providers, electricity is not available 24/7 to consumers. This creates a demand for energy storage systems that aid in storing electricity for future use during power outages.

Technavio’s analysts forecast the global off-grid energy storage system market to grow at a CAGR of 6.657% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global off-grid energy storage system market for 2016-2020. To calculate the market size, the report considers the revenue generated by the demand for energy storage for off-grid systems for application by end-users in each region and their corresponding key countries.

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

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Off-Grid Energy Storage System 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
  • Aquion Energy
  • Green Charge
  • LG Chem
  • NEC Energy Solutions
  • NRG Energy
Other prominent vendors
  • Amperex Technology
  • Boston Power
  • China Aviation Lithium Battery
  • EnerSys
  • GE Energy Storage
  • Mitsubishi Heavy Industries
  • Primus Power
  • SAFT
  • Sumitomo Electric Industries
  • Toshiba
  • Xtreme Power
Market driver
  • Demand for energy storage as distributed generation
  • For a full, detailed list, view our report
Market challenge
  • Technological challenges related to batteries
  • For a full, detailed list, view our report
Market trend
  • Decline in cost of energy storage systems
  • 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 Off-Grid Energy Storage System Market 2016-2020

Technavio recognizes the following companies as the key players in the global off-grid energy storage system market: Aquion Energy, Green Charge, LG Chem, NEC Energy Solutions, and NRG Energy.

Other Prominent Vendors in the market are: Amperex Technology, Boston Power, China Aviation Lithium Battery, EnerSys, GE Energy Storage, Mitsubishi Heavy Industries, Primus Power, SAFT, Sumitomo Electric Industries, Toshiba, and Xtreme Power.

Commenting on the report, an analyst from Technavio’s team said: “Emergence of new energy technologies will be a key trend for market growth. Companies are focused on the advances of battery storage technology. They are investing heavily in R&D departments so that with new technologies they can reduce the battery costs, which is a major issue for the battery energy storage system market. Battery energy storage systems have encountered many breakthroughs and technological advances that result in reduction of cost and increase the efficiency of batteries.”

According to the report, the use of off-grid energy storage technologies reduces losses and improves the efficiency of power plants. In addition, the use of off-grid storage technologies makes transmission and distribution more flexible and can help to meet the peak demand and increase the system efficiency. Therefore, growing power consumption is one of the major drivers for global off-grid energy storage system market.

Further, the report states that decline in diesel prices will be a challenge for the market. One of the main reasons for opting off-grid battery systems is to reduce the cost and dependency on diesel; however, since 2012, there has been a year-over-year decline in diesel prices, which is negatively impacting the growth of global off-grid energy storage system market. As the diesel cost per liter decreases, the value proposition for switching to the off-grid hybrid system also decreases, increasing the payback period.

Companies Mentioned

Aquion Energy, Green Charge, LG Chem, NEC Energy Solutions, NRG Energy, Amperex Technology, Boston Power, China Aviation Lithium Battery, EnerSys, GE Energy Storage, Mitsubishi Heavy Industries, Primus Power, SAFT, Sumitomo Electric Industries, Toshiba, and Xtreme Power.

  • 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 Off-grid power system
  • Market landscape
    • Market overview
      • Table Segmentation of global off-grid energy storage system market
    • Market size and forecast by revenue
      • Table Global off-grid energy storage system market 2015-2020 ($ billions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by battery technology
    • Global off-grid energy storage system market by battery technology
      • Table Global off-grid energy storage system market by battery technology 2015 and 2020
      • Table Global off-grid energy storage system market by battery technology 2015-2020 ($ billions)
    • Li-ion battery technology
      • Table Global off-grid energy storage system market by Li-ion battery technology 2015-2020 ($ billions)
    • LAB technology
      • Table Global off-grid energy storage system market by LAB technology 2015-2020 ($ billions)
    • Sodium-based battery technology
      • Table Global off-grid energy storage system market by sodium-based battery technology 2015-2020 ($ billions)
  • Market segmentation by geography
    • Global off-grid energy storage system market by geography
      • Table Global off-grid energy storage system market by geography for 2015 and 2020
      • Table Global off-grid energy storage system market by geography 2015-2020 ($ billions)
    • Off-grid energy storage system market in Americas
      • Table Off-grid energy storage system market in Americas 2015-2020 ($ billions)
    • Off-grid energy storage system market in EMEA
      • Table Off-grid energy storage system market in EMEA 2015-2020 ($ billions)
    • Off-grid energy storage system market in APAC
      • Table Off-grid energy storage system market in APAC 2015-2020 ($ billions)
  • Market drivers
    • Need for rural electrification
      • Table Global electrification rate
    • Rise in power consumption
      • Table Developing countries with progress in access to electricity 1990-2020
    • Demand for energy storage as distributed generation
      • Table DER application and benefits
      • Table Most commonly used DER
    • Hike in renewable energy investments
      • Table LCOE of renewable energy sources 2013-2014 ($/MWh)
      • Table Renewable energy investment in the US, China, and worldwide 2011-2015 ($ billions)
    • Growth in demand from telecom sector
      • Table Mobile cellular subscriptions per 100 people 2010-2014
      • Table Estimated global telecom tower installations
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Reduction in subsidies
    • Decline in diesel prices
      • Table Global pump price for diesel fuel 2004-2014 ($ per liter)
    • Technological challenges related to batteries
      • Table Li-ion battery challenges
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Decline in cost of energy storage systems
      • Table Typical PV penetration by system type
    • Increase in energy storage investments
    • Emergence of new energy technologies
  • Vendor landscape
    • Competitive landscape
    • Other prominent vendors
  • Key vendor analysis
    • Aquion Energy
      • Table Aquion Energy: Product segmentation
    • Green Charge
      • Table Green Charge: Products and services
    • LG Chem
      • Table Business segmentation by revenue 2014
      • Table LG Chem: Business segmentation by revenue 2013 and 2014 ($ billions)
      • Table LG Chem: Geographical segmentation by revenue 2014
    • NEC Energy Solutions
      • Table Energy storage products and services
      • Table Energy grid solutions
    • NRG Energy
      • Table NRG Energy: Business segmentation by revenue 2014
      • Table NRG Energy: Business segmentation by revenue 2013 and 2014 ($ billions)
  • Appendix
    • List of abbreviations
  • Explore Technavio

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report