Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Executive Summary
The Global Energy Storage Market, valued at USD 64.96 Billion in the year 2021 has been witnessing unprecedented growth in the last few years on the back of growing environmental concerns, growing government support, rapid urbanization and growing clean energy demand. These factors will drive the Energy Storage Market market value in the near future.
Among the type (Batteries, Pumped-storage Hydroelectricity (PSH), Thermal Energy Storage (TES) and others), the Batteries segment holds the largest share globally and is expected to grow at a faster pace in the forecast period. The demand for Lithium-Based Batteries is higher in EVs, ESS systems, and also battery storage is widely used in electric vehicles, portable devices due to the advantages of a lithium-based battery, which will drive the market.
Among the End-User (Industrial, Commercial, Residential), Industrial end-user holds a large share in the market globally and is expected to keep growing in the forecast period. It is one of the largest applications of energy storage systems as the demand for energy storage is high in manufacturing, automobile like electric vehicles and the rising demand for EV will keep driving the market in future.
The main growth in Energy Storage Market has been registered from APAC in 2021. In countries like China, Japan, Australia, India and South Korea, due to the growing population, the need for energy has increased, which will facilitate demand for renewable energy in Asian countries. These factors will drive the need for energy storage system in the region and is expected to infuse market growth tremendously.
Scope of the Report
• The report analyses the Energy Storage Market by Value.
• The report presents the analysis of the Energy Storage Market for the historical period of 2017-2021 and the forecast period of 2022-2027.
• The report analyses the Energy Storage Market by Type (Batteries, Pumped-storage Hydroelectricity (PSH), Thermal Energy Storage (TES), Others).
• The report analyses the Energy Storage Market by the End-User (Industrial, Commercial, and Residential).
• The Global Energy Storage Market has been analysed By Region (Americas, Europe and the Asia Pacific) and By Country (U.S, Canada, UK, Germany, Italy, France, China, Japan, Australia, India).
• The attractiveness of the market has been presented by Type, by End User, by region. Also, the major opportunities, trends, drivers and challenges of the industry have been analysed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Tesla Inc., Panasonic, Toshiba, LG Chem, GS Yuasa, BYD, General Electric, Fluence Energy Powin, Wartsila.
• The report analyses the impact of Covid-19 on the Energy Storage Market.
Key Target Audience
• Energy Storage Market Vendors
• Consulting and Advisory Firms
• Government and Policy Makers
• Investment Banks and Equity Firms
• Regulatory Authorities
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