U.S. Battery Energy Storage System Market Size, Share & Trends Analysis Report By Application (Telecommunication, Data Center, Medical, Industrial, Marine), By Product, By Region, And Segment Forecasts, 2020 - 2027
U.S. Battery Energy Storage System Market Growth & Trends
The U.S. battery energy storage system market size is expected to reach USD 1.8 billion by 2027, expanding at a CAGR of 23.9%, according to a new report by Grand View Research, Inc. Rising deployment of renewable energy sources such as solar and wind are resulting in increased adoption of storage systems owing to the grid reliability offered by the technology. It provides constant power supply to the grid and compensates for intermittent nature of renewable power supply.
The systems are widely used in industries including medical, marine, telecommunication, production, energy, and information technology. With increasing requirement of efficient grid management, constant load management, and continuous power supply, the market is expected to witness significant growth over the forecast period.
The manufacturers supply batteries both through direct supply and third-party supply agreements to the manufacturers in the industry. The manufacturers assemble different batteries depending on the requirements of the end-use industries. The system manages the power quality, aids time shifting, and improves grid efficiency.
Industry participants are focusing on largely commercializing flywheel storage as it is more economical than batteries. The main reasons for this are the long service life and low maintenance costs of the flywheel compared, which compensates for the higher purchase costs at the beginning of the installation. While flywheel storage normally has the same lifespan as the UPS technology, batteries have to be replaced several times during the lifespan of a UPS.
U.S. Battery Energy Storage System Market Report Highlights
The U.S. battery energy storage system market size is expected to reach USD 1.8 billion by 2027, expanding at a CAGR of 23.9%, according to a new report by Grand View Research, Inc. Rising deployment of renewable energy sources such as solar and wind are resulting in increased adoption of storage systems owing to the grid reliability offered by the technology. It provides constant power supply to the grid and compensates for intermittent nature of renewable power supply.
The systems are widely used in industries including medical, marine, telecommunication, production, energy, and information technology. With increasing requirement of efficient grid management, constant load management, and continuous power supply, the market is expected to witness significant growth over the forecast period.
The manufacturers supply batteries both through direct supply and third-party supply agreements to the manufacturers in the industry. The manufacturers assemble different batteries depending on the requirements of the end-use industries. The system manages the power quality, aids time shifting, and improves grid efficiency.
Industry participants are focusing on largely commercializing flywheel storage as it is more economical than batteries. The main reasons for this are the long service life and low maintenance costs of the flywheel compared, which compensates for the higher purchase costs at the beginning of the installation. While flywheel storage normally has the same lifespan as the UPS technology, batteries have to be replaced several times during the lifespan of a UPS.
U.S. Battery Energy Storage System Market Report Highlights
- The data center application segment grabbed the largest revenue share of the market and was valued at USD 130.4 million in 2019 owing to the growing requirement of continuous power supply at these facilities
- Flywheel battery is expected to be the fastest growing product segment with a CAGR of 27.7%. The flywheel technology offers several advantages including higher efficiency and a longer life as compared to a Lithium-ion based technology
- Lithium-ion battery is likely to be the second fastest growing segment, escalating at a CAGR of 22.9% over the forecast period owing to its high energy density and high safety level
- Partnership with local governments, technological collaborations, and research and development activities focusing on smart grid deployment are some of the strategic initiatives taken up by leading companies.
CHAPTER 1 METHODOLOGY & SCOPE
1.1 U.S. Battery Energy Storage Systems Market Segmentation
1.2 U.S. Battery Energy Storage Systems Market Definitions
1.3 Assumptions
1.4 Information Procurement
1.4.1 Purchased Database
1.4.2 GVR’s Internal Database
1.4.3 Secondary Sources
1.4.4 Third Party Perspective
1.4.5 Primary Research
1.5 Information Analysis
1.5.1 Data Analysis Models
1.6 Market Formulation and Data Visualization
1.7 Data Validation and Publishing
CHAPTER 2 EXECUTIVE SUMMARY
2.1 Market Outlook
2.2 Segmental Outlook
2.3 Competitive Insights
CHAPTER 3 MARKET VARIABLES, TRENDS & SCOPE
3.1 Market Lineage Outlook
3.1.1 Advance Battery Energy Storage Systems Market Outlook
3.2 Penetration & Growth Prospect Mapping
3.3 Industry Value Chain Analysis
3.3.1 Raw Material Trends
3.3.1.1 Major Raw Materials Analysis
3.3.1.2 STEEL
3.3.1.2.1 STEEL TRADE SCENARIO
3.3.1.3 Carbon Fiber
3.3.1.3.1 LITHIUM
3.3.1.3.2 Lead
3.3.2 Manufacturing & Storage Trends
3.4 Comparative Cost Analysis
3.5 Technology Overview
3.5.1 Batteries
3.5.2 Flywheel
3.6 Regulatory Framework
3.6.1 Policies and Regulations
3.6.2 Standard & Compliances
3.6.3 Safety
3.7 Market Dynamics
3.7.1 Market Driver Analysis
3.7.1.1 Growing demand for uninterruptible power supply (UPS)
3.7.1.2 RISING ADOPTION OF ELECTRIC VEHICLES
3.7.2 Market Restraint Analysis
3.7.2.1 Lack of long-term energy storage
3.7.3 Opportunity Assessment
3.8 Business Environment Analysis: U.S. Battery Energy Storage Systems Market
3.8.1 Industry Analysis - Porter’s
3.8.2 PESTEL analysis
CHAPTER 4 U.S. BATTERY ENERGY STORAGE SYSTEMS MARKET: APPLICATION ESTIMATES & TREND ANALYSIS
4.1 Application Movement Analysis & Market Share, 2019 & 2027
4.2 Market Size & Forecasts and Trend Analysis, 2016 to 2027 for the Following:
4.2.1 Telecommunication
4.2.1.1 Market Size & Forecasts, 2016 to 2027, by application
4.2.2 Data Center
4.2.2.1 Market Size & Forecasts, 2016 to 2027, by application
4.2.3 Medical
4.2.3.1 Market Size & Forecasts, 2016 to 2027, by application
4.2.4 Industrial
4.2.4.1 Market Size & Forecasts, 2016 to 2027, by application
4.2.5 Marine
4.2.5.1 Market Size & Forecasts, 2016 to 2027, by application
4.2.6 Others
4.2.6.1 Market Size & Forecasts, 2016 to 2027, by application
CHAPTER 5 U.S. BATTERY ENERGY STORAGE SYSTEMS MARKET: PRODUCT ESTIMATES & TREND ANALYSIS
5.1 Product Movement Analysis & Market Share, 2019 & 2027
5.2 Market Size & Forecasts and Trend Analysis, 2016 to 2027 for the Following:
5.2.1 Flywheel battery
5.2.1.1 Market Size & Forecasts, 2016 to 2027, by product
5.2.2 Lead acid battery
5.2.2.1 Market Size & Forecasts, 2016 to 2027, by product
5.2.3 Lithium ion battery
5.2.3.1 Market Size & Forecasts, 2016 to 2027, by product
5.2.4 Others
CHAPTER 6 U.S. BATTERY ENERGY STORAGE SYSTEMS MARKET - COMPETITIVE ANALYSIS
6.1 Key Global Players & Recent Developments & their Impact on the Industry
6.2 Vendor Landscape
6.2.1 List of Key Distributors and Channel Partners
6.3 Key Company Market Ranking Analysis, 2019
6.3.1 Competitive Heat Map Analysis
6.4 Company Market Positioning
CHAPTER 7 COMPANY PROFILE
7.1 General Electric.
7.1.1 Company Overview
7.1.2 Financial PerformaNce
7.1.3 Product benchmarking
7.1.4 Strategic Initiatives
7.2 Hitachi, Ltd.
7.2.1 Company Overview
7.2.2 Financial PerformaNce
7.2.3 Product benchmarking
7.2.4 Strategic initiatives
7.3 Exide Technologies
7.3.1 Company Overview
7.3.2 Product Benchmarking
7.3.3 Strategic Initiatives
7.4 NGK INSULATORS, LTD.
7.4.1 Company Overview
7.4.2 Financial PerformaNce
7.4.3 Product benchmarking
7.4.4 Strategic Initiatives
7.5 ENERSYS
7.5.1 Company Overview
7.5.2 Financial Performance
7.5.3 Product benchmarking
7.5.4 Strategic Initiatives
7.6 The AES Corporation
7.6.1 Company Overview
7.6.2 Financial PerformaNce
7.6.3 Product benchmarking
7.6.4 Strategic Initiatives
7.7 SAMSUNG SDI CO.,LTD
7.7.1 Company Overview
7.7.2 Financial PerformaNce
7.7.3 Product benchmarking
7.7.4 Strategic Initiatives
7.8 Amber Kinetics, Inc.
7.8.1 Company Overview
7.8.2 Product Benchmarking
7.8.3 Strategic Initiatives
7.9 Powerthru
7.9.1 Company Overview
7.9.2 Product Benchmarking
7.10 Altairnano
7.10.1 Company Overview
7.10.2 Product Benchmarking
1.1 U.S. Battery Energy Storage Systems Market Segmentation
1.2 U.S. Battery Energy Storage Systems Market Definitions
1.3 Assumptions
1.4 Information Procurement
1.4.1 Purchased Database
1.4.2 GVR’s Internal Database
1.4.3 Secondary Sources
1.4.4 Third Party Perspective
1.4.5 Primary Research
1.5 Information Analysis
1.5.1 Data Analysis Models
1.6 Market Formulation and Data Visualization
1.7 Data Validation and Publishing
CHAPTER 2 EXECUTIVE SUMMARY
2.1 Market Outlook
2.2 Segmental Outlook
2.3 Competitive Insights
CHAPTER 3 MARKET VARIABLES, TRENDS & SCOPE
3.1 Market Lineage Outlook
3.1.1 Advance Battery Energy Storage Systems Market Outlook
3.2 Penetration & Growth Prospect Mapping
3.3 Industry Value Chain Analysis
3.3.1 Raw Material Trends
3.3.1.1 Major Raw Materials Analysis
3.3.1.2 STEEL
3.3.1.2.1 STEEL TRADE SCENARIO
3.3.1.3 Carbon Fiber
3.3.1.3.1 LITHIUM
3.3.1.3.2 Lead
3.3.2 Manufacturing & Storage Trends
3.4 Comparative Cost Analysis
3.5 Technology Overview
3.5.1 Batteries
3.5.2 Flywheel
3.6 Regulatory Framework
3.6.1 Policies and Regulations
3.6.2 Standard & Compliances
3.6.3 Safety
3.7 Market Dynamics
3.7.1 Market Driver Analysis
3.7.1.1 Growing demand for uninterruptible power supply (UPS)
3.7.1.2 RISING ADOPTION OF ELECTRIC VEHICLES
3.7.2 Market Restraint Analysis
3.7.2.1 Lack of long-term energy storage
3.7.3 Opportunity Assessment
3.8 Business Environment Analysis: U.S. Battery Energy Storage Systems Market
3.8.1 Industry Analysis - Porter’s
3.8.2 PESTEL analysis
CHAPTER 4 U.S. BATTERY ENERGY STORAGE SYSTEMS MARKET: APPLICATION ESTIMATES & TREND ANALYSIS
4.1 Application Movement Analysis & Market Share, 2019 & 2027
4.2 Market Size & Forecasts and Trend Analysis, 2016 to 2027 for the Following:
4.2.1 Telecommunication
4.2.1.1 Market Size & Forecasts, 2016 to 2027, by application
4.2.2 Data Center
4.2.2.1 Market Size & Forecasts, 2016 to 2027, by application
4.2.3 Medical
4.2.3.1 Market Size & Forecasts, 2016 to 2027, by application
4.2.4 Industrial
4.2.4.1 Market Size & Forecasts, 2016 to 2027, by application
4.2.5 Marine
4.2.5.1 Market Size & Forecasts, 2016 to 2027, by application
4.2.6 Others
4.2.6.1 Market Size & Forecasts, 2016 to 2027, by application
CHAPTER 5 U.S. BATTERY ENERGY STORAGE SYSTEMS MARKET: PRODUCT ESTIMATES & TREND ANALYSIS
5.1 Product Movement Analysis & Market Share, 2019 & 2027
5.2 Market Size & Forecasts and Trend Analysis, 2016 to 2027 for the Following:
5.2.1 Flywheel battery
5.2.1.1 Market Size & Forecasts, 2016 to 2027, by product
5.2.2 Lead acid battery
5.2.2.1 Market Size & Forecasts, 2016 to 2027, by product
5.2.3 Lithium ion battery
5.2.3.1 Market Size & Forecasts, 2016 to 2027, by product
5.2.4 Others
CHAPTER 6 U.S. BATTERY ENERGY STORAGE SYSTEMS MARKET - COMPETITIVE ANALYSIS
6.1 Key Global Players & Recent Developments & their Impact on the Industry
6.2 Vendor Landscape
6.2.1 List of Key Distributors and Channel Partners
6.3 Key Company Market Ranking Analysis, 2019
6.3.1 Competitive Heat Map Analysis
6.4 Company Market Positioning
CHAPTER 7 COMPANY PROFILE
7.1 General Electric.
7.1.1 Company Overview
7.1.2 Financial PerformaNce
7.1.3 Product benchmarking
7.1.4 Strategic Initiatives
7.2 Hitachi, Ltd.
7.2.1 Company Overview
7.2.2 Financial PerformaNce
7.2.3 Product benchmarking
7.2.4 Strategic initiatives
7.3 Exide Technologies
7.3.1 Company Overview
7.3.2 Product Benchmarking
7.3.3 Strategic Initiatives
7.4 NGK INSULATORS, LTD.
7.4.1 Company Overview
7.4.2 Financial PerformaNce
7.4.3 Product benchmarking
7.4.4 Strategic Initiatives
7.5 ENERSYS
7.5.1 Company Overview
7.5.2 Financial Performance
7.5.3 Product benchmarking
7.5.4 Strategic Initiatives
7.6 The AES Corporation
7.6.1 Company Overview
7.6.2 Financial PerformaNce
7.6.3 Product benchmarking
7.6.4 Strategic Initiatives
7.7 SAMSUNG SDI CO.,LTD
7.7.1 Company Overview
7.7.2 Financial PerformaNce
7.7.3 Product benchmarking
7.7.4 Strategic Initiatives
7.8 Amber Kinetics, Inc.
7.8.1 Company Overview
7.8.2 Product Benchmarking
7.8.3 Strategic Initiatives
7.9 Powerthru
7.9.1 Company Overview
7.9.2 Product Benchmarking
7.10 Altairnano
7.10.1 Company Overview
7.10.2 Product Benchmarking
LIST OF TABLES
Table 1 List of major exporting countries for various steel products, 2019 (MT)
Table 2 List of major importing countries for various steel products, 2019 (MT)
Table 3 Net exports (exports - imports) for steel products for major countries, 2019 (MT)
Table 4 Net imports (imports - exports) for steel products for major countries, 2019 (MT)
Table 5 Capital costs of flywheel systems
Table 6 Capital cost of Li-ion battery systems
Table 7 Capital cost of lead-acid battery systems
Table 8 U.S. UPS Market, 2016 - 2027 (USD Million)
Table 9 Flywheel battery Market, 2016 - 2027 (USD Million)
Table 10 Flywheel battery Market Size & Forecasts, 2016 to 2027, by backup duration (USD Million)
Table 11 Lead acid battery Market, 2016 - 2027 (USD Million)
Table 12 Lead acid batteryMarket Size & Forecasts, 2016 to 2027, by backup duration (USD Million)
Table 13 Lithium ion battery Market, 2016 - 2027 (USD Million)
Table 14 Lithium ion battery Market Size & Forecasts, 2016 to 2027, by backup duration (USD Million)
Table 15 Other battery Market, 2016 - 2027 (USD Million)
Table 16 Data center application of U.S. battery energy storage systems market, 2016 - 2027 (USD Million)
Table 17 Medical application of U.S. battery energy storage systems market, 2016 - 2027 (USD Million)
Table 18 Industrial application of U.S. battery energy storage systems market, 2016 - 2027 (USD Million)
Table 19 Telecommunication application of U.S. battery energy storage systems market, 2016 - 2027 (USD Million)
Table 20 Marine application of U.S. battery energy storage systems market, 2016 - 2027 (USD Million)
Table 21 Other applications of U.S. battery energy storage systems market, 2016 - 2027 (USD Million)
Table 1 List of major exporting countries for various steel products, 2019 (MT)
Table 2 List of major importing countries for various steel products, 2019 (MT)
Table 3 Net exports (exports - imports) for steel products for major countries, 2019 (MT)
Table 4 Net imports (imports - exports) for steel products for major countries, 2019 (MT)
Table 5 Capital costs of flywheel systems
Table 6 Capital cost of Li-ion battery systems
Table 7 Capital cost of lead-acid battery systems
Table 8 U.S. UPS Market, 2016 - 2027 (USD Million)
Table 9 Flywheel battery Market, 2016 - 2027 (USD Million)
Table 10 Flywheel battery Market Size & Forecasts, 2016 to 2027, by backup duration (USD Million)
Table 11 Lead acid battery Market, 2016 - 2027 (USD Million)
Table 12 Lead acid batteryMarket Size & Forecasts, 2016 to 2027, by backup duration (USD Million)
Table 13 Lithium ion battery Market, 2016 - 2027 (USD Million)
Table 14 Lithium ion battery Market Size & Forecasts, 2016 to 2027, by backup duration (USD Million)
Table 15 Other battery Market, 2016 - 2027 (USD Million)
Table 16 Data center application of U.S. battery energy storage systems market, 2016 - 2027 (USD Million)
Table 17 Medical application of U.S. battery energy storage systems market, 2016 - 2027 (USD Million)
Table 18 Industrial application of U.S. battery energy storage systems market, 2016 - 2027 (USD Million)
Table 19 Telecommunication application of U.S. battery energy storage systems market, 2016 - 2027 (USD Million)
Table 20 Marine application of U.S. battery energy storage systems market, 2016 - 2027 (USD Million)
Table 21 Other applications of U.S. battery energy storage systems market, 2016 - 2027 (USD Million)
LIST OF FIGURES
Fig. 1 U.S. Battery Energy Storage Systems market segmentation
Fig. 2 Information procurement
Fig. 3 Primary research pattern
Fig. 4 Primary research process
Fig. 5 Primary research approaches
Fig. 6 US Battery Energy Storage Systems market - Penetration & growth prospect mapping
Fig. 7 U.S. Battery Energy Storage Systems Market - Industry value chain analysis
Fig. 8 Carbon Fiber Demand, 2016 - 2027 (Tons)
Fig. 9 Global lithium consumption, by application, 2018 (%)
Fig. 10 Capital cost vs. runtime for energy storage methods
Fig. 11 Market driver impact analysis
Fig. 12 Global electric vehicle sales, 2016 - 2027 (Thousand Units)
Fig. 13 Market restraint impact analysis
Fig. 14 U.S. Battery energy storage systems market analysis - Porter’s
Fig. 15 U.S. Battery energy storage systems market analysis - PESTEL analysis
Fig. 16 U.S. Battery energy storage systems Market: Product Movement Analysis, 2019 & 2027
Fig. 17 U.S. Battery energy storage systems Market: Application Movement Analysis, 2019 & 2027
Fig. 18 Competitive Heat Map Analysis
Fig. 1 U.S. Battery Energy Storage Systems market segmentation
Fig. 2 Information procurement
Fig. 3 Primary research pattern
Fig. 4 Primary research process
Fig. 5 Primary research approaches
Fig. 6 US Battery Energy Storage Systems market - Penetration & growth prospect mapping
Fig. 7 U.S. Battery Energy Storage Systems Market - Industry value chain analysis
Fig. 8 Carbon Fiber Demand, 2016 - 2027 (Tons)
Fig. 9 Global lithium consumption, by application, 2018 (%)
Fig. 10 Capital cost vs. runtime for energy storage methods
Fig. 11 Market driver impact analysis
Fig. 12 Global electric vehicle sales, 2016 - 2027 (Thousand Units)
Fig. 13 Market restraint impact analysis
Fig. 14 U.S. Battery energy storage systems market analysis - Porter’s
Fig. 15 U.S. Battery energy storage systems market analysis - PESTEL analysis
Fig. 16 U.S. Battery energy storage systems Market: Product Movement Analysis, 2019 & 2027
Fig. 17 U.S. Battery energy storage systems Market: Application Movement Analysis, 2019 & 2027
Fig. 18 Competitive Heat Map Analysis
