Advanced Energy Storage: Market Research Report

January 2019 | 321 pages | ID: A059326A296EN
Global Industry Analysts, Inc

Abstracts

This report analyzes the worldwide markets for Advanced Energy Storage in terms of installed capacity (in Megawatts).

The report provides separate comprehensive analytics for the US, Western Europe, Asia-Pacific, and Rest of World. Annual estimates and forecasts are provided for the period 2015 through 2024. Market data and analytics are derived from primary and secondary research.

Company profiles are primarily based on public domain information including company URLs. The report profiles 94 companies including many key and niche players such as -

• ABB Ltd.
• Active Power, Inc.
• AES Energy Storage, LLC
• Alevo Group S.A.
• Altair Nanotechnologies, Inc
• Amber Kinetics, Inc.

Contents

I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS

Study Reliability and Reporting Limitations
Disclaimers
Data Interpretation & Reporting Level
Quantitative Techniques & Analytics
Product Definitions and Scope of Study

II. EXECUTIVE SUMMARY

1. INDUSTRY OVERVIEW

Rising Share of Intermittent Sources of Energy in Utility Energy Generation Portfolio: The Cornerstone for the Growth of Utility Grade Advanced Energy Storage Technologies

Table 1. Growing Share of Renewables Against the Backdrop of the Focus on Decarbonization of Human Civilization to Open New Opportunities for Grid Level Advanced Energy Storage: World Energy Production (In Billion Kilowatt Hours) by Energy Source for the Years 2017, 2020, 2030 and 2040 (includes corresponding Graph/Chart)

Review of Renewable Energy Projects Undertaken Worldwide and Regulations Supporting Renewable Electricity-to-Grid Integration
Declining Cost of Wind and Solar Power Make Renewables an Important Part of Utility Energy Portfolio

Table 2. Falling Cost of Energy Storage Technologies to Boost Market Prospects Over the Long-Term Period: Global Levelized Cost of Energy Storage Technologies in Utilities (In US$ Per MWh) by Type for the Years 2015 and 2030 (includes corresponding Graph/Chart)

Table 3. Highlighting Rapidly Falling Costs, the Inverse Relationship Between Renewable Energy Investments and Total Capacity Deployed is Poised to Boost Renewable Electricity-to-Grid Integration: Global Breakdown of Renewable Investments (In US$ Billion) and Deployed Capacity (In GW) for Solar, Wind, Hydropower, and Biomass for the Years 2015 & 2017 (includes corresponding Graph/Chart)

Escalating Climate Change Adds Urgency to the Renewable Energy Revolution Underway in the Global Economy
How the Renewable Energy Boom Benefits Advanced Energy Storage Technologies

Table 4. Rising Global Temperatures Accelerate the Focus on Renewables as the Silver Lining in Energy Sustainability: Global Increase in Surface Temperatures (In Centigrade) for the Years 1952, 1981, 1998 and 2017 (includes corresponding Graph/Chart)

Despite Declines in Renewable Investments, Outlook for Advanced Energy Storage Remains Bright

Table 5. Amid the Paradoxically Inverse Relationship Between Annual Investments & New Capacity Build-Out in Renewables, Outlook for Advanced Energy Storage Technologies Remain Unchanged Despite the Decline in Renewable Energy Investments: Global New Investments in Renewable Energy (In US$ Million) for the Years 2011, 2015 and 2017 (includes corresponding Graph/Chart)

Prolonged Softness in Oil Prices: What It Means for Renewable-to-Grid Integration

Table 6. Against the Backdrop of Reducing Share of Oil as a Source for Electricity Generation, the Prolonged Softness in Oil Prices is Not Expected to Have a Sizable Impact On Renewable-to-Grid Integration: Global Crude Oil Prices (In US$ Per Barrel) for the Years 2012 Through 2040P (includes corresponding Graph/Chart)

Table 7. Global % Share of Electricity Produced from Oil Sources for the Years 1973, 1985, 2000, 2010, 2017 (includes corresponding Graph/Chart)

Although Lower Than Pre-Recession Levels, World Demand for Energy Will Remain a Key Driver of Growth

Table 8. Global Growth in Energy Demand Although Decelerating Will Provide a Fertile Platform for the Growth & Evolution of Advanced Energy Storage Solutions: Global Energy Demand & Growth (In Million Tonnes of Oil Equivalent (Mtoe)) for the Years 1990, 2000, 2010, 2020, 2030 and 2040 (includes corresponding Graph/Chart)

Major Market Trends and Drivers
Rising Investments in Energy Storage Projects Bodes Well for the Growth of Advanced Energy Storage Technologies

Table 9. Global Number of Grid Connected Energy Storage Projects by Country for the Year 2017 (includes corresponding Graph/Chart)

Aging Energy Infrastructure Drives Opportunities for Energy Storage as a Method of Modernizing Energy Grids

Table 10. Given the Damaging Impact of Power Loss to the Economy and Future GDP Growth, Growing Investments in Electricity Infrastructure Upgrades Bodes Well for Market Growth: Global Investments in Electricity Networks and Storage (In US$ Billion) for the Years 2000, 2008, 2012, 2016, and 2018 (includes corresponding Graph/Chart)

Table 11. Aging Infrastructure Urges the Importance of Upgrades: Breakdown of Average Age of Utilities by Type, their Current Value and Cost of Replacement (In US$ Billion) for the Year 2017, Taking the U. S as a Case in Point (includes corresponding Graph/Chart)

Table 12. With the Largest Negative Gap in Infrastructure Funding & the Resulting Risk of Ignoring Aging Infrastructure Weighing Down More Heavily than the Financial Burden of Modernization, the U. S Emerges as One of the Markets With the Strongest Potential for Advanced Energy Storage Technologies: Breakdown of Actual & Needed Infrastructure Spending (as a % of GDP) in Select Countries for the Year 2017 (includes corresponding Graph/Chart)

Are Batteries Ready for Mass Commercialization in Grid-Level Energy Storage?

Table 13. Electro-Chemical Batteries Poised to Become the Grid Scale Energy Storage Technology of Choice for “Minutes to Seconds” and “Daily Storage” Applications in Utilities: Global Percentage Breakdown of Installed Capacity by Grid Connected Energy Storage by Technology for the Years 2014, 2017 and 2020 (includes corresponding Graph/Chart)

“Value Stacking”: A Vital Product Development & Design Strategy to Counter the High CAPEX of Battery Energy Storage Technologies
Lithium Ion (Li-ion) Batteries: The Leader in Utility-Scale Applications
Price of Li-ion Batteries Fall, But Not at the Rate Required for Mass Adoption

Table 14. Falling Cost of Li-ion to Benefit Adoption in Stationary Energy Storage Applications: Global Cost of Battery Technologies in Utility Applications (In US$ Per KWh) by Type for the Years 2014, 2017, and 2022 (includes corresponding Graph/Chart)

Table 15. Favorable Decline in Prices of Myriad Lithium-ion Chemistries for Utility-Scale Applications to Bring Out Lithium-ion as the Winning Technology in the Battery Based Energy Storage Space: Global Prices of lithium-ion chemistries for utility-scale applications (in US$ per KWh) for the Years 2014, 2017 and 2020 (includes corresponding Graph/Chart)

Robust Surge in Solar and Wind Farms Throws the Focus Squarely on Grid Stability

Table 16. Robust Gains in Solar & Wind Power Installed Capacity to Accelerate the Urgency in Ensuring Grid Stability Via Energy Storage Technologies: Global Wind and Solar Installed Capacity (In GW) for the Years 2011, 2017, 2020 and 2022 (includes corresponding Graph/Chart)

Energy Storage Assets Remain Vital Towards Enhancing the Operation of Smart Grids

Table 17. Proliferation of Smart Grids to Help Enhance the Value of Advanced Energy Storage Systems as Important Utility Assets that Help Support Network Stability: Global Investments in Smart Grids (In US$ Billion) for the Years 2013, 2017, and 2020 (includes corresponding Graph/Chart)

Flywheel Systems Emerge as a Reasonable Alternative to Batteries Uniquely Suited to Utility-Scale Applications
Large Capacity Sodium Sulfur Battery Grow in Prominence as a Promising Clean Energy Technology
CAES Systems to Offer Utility Grids Cost-Effective Bulk Storage
LAES Promises Environmentally Neutral Grid Scale Energy Storage without Geographical Constraints
SMES: A Promising Advanced Energy Storage Technology

Table 18. Sizing of the Latent Market Potential for SMES: Global Sales of SMES Systems (In US$ 000) for the Years 2017, 2020 and 2024 by Geographic Region (includes corresponding Graph/Chart)

Hydrogen Storage Offers Seamless Integration of Wind and Solar Energy into the Grid
Continuous Innovations Push a Bevy of Exciting Storage Technologies Closer to Commercialization
Market Outlook

2. PRODUCT OVERVIEW

Advanced Energy Storage: Definition
Types of Renewable Energy Storage Technologies
Overview of Currently Available Energy Storage Technologies

Table 19. Energy Storage Technologies: Key Features Comparison for PHS, CAES, Flywheel, NaS Battery, Li-ion Battery, Flow Battery, Supercapacitor, SMES, Molten Salt, Hydrogen, and SNG Technology

Various Energy Storage Technologies: Key Advantages & Disadvantages
Short-Term Renewable Energy Storage Technologies
Supercapacitor Energy Storage
Flywheel Energy Storage
Superconducting Magnetic Energy Storage
Long-Term Renewable Energy Storage Technologies
Pumped Hydroelectric Energy Storage
Compressed Air Energy Storage
Battery Energy Storage
Characteristics of Select Battery Technology Types
Hydrogen Energy Storage
SWOT Analysis of Different Long-Term Renewable Energy Storage Technologies
Government Intervention Critical to Widespread Adoption
Domestic Targets for Greenhouse Gas Emissions of Select Regions/Countries
Significance of Renewable Energy Storage
Minimizing Energy Costs
Ensuring Reliable Supply of Energy
Increasing Energy Autonomy
Renewable Energy: A Primer
An Introduction
Renewable Energy: A Definition
Benefits of Renewable Energy
Environmental Benefits
Economic Benefits
Energy Security
Sources of Renewable Energy
Solar Energy
Power Tower Systems
Parabolic-Trough Systems
Dish/Engine Systems
Wind Energy
Geothermal Energy
Binary Cycle Power Plants
Flash Steam Power Plants
Dry Steam Power Plants
Hydroelectric Power
Bioenergy
Hydrogen and Fuel Cells
Ocean Energy
Ocean Mechanical Energy
Ocean Thermal Energy
Disadvantages of Renewable Energy
Disadvantages of Solar Energy
Disadvantages of Wind Energy
Disadvantages of Geothermal Energy
Disadvantages of Hydroelectric Energy
Disadvantages of Ocean Energy
Energy Storage Technology Advancements
Rice University Announces Molybdenum Disulfide Breakthrough
Researchers at MIT Upgrade Proposed Liquid Battery System
Alevo Develops Innovative, High-Efficiency Energy Storage System
Nanotechnology: The Future of Energy Storage?
Nanotubular Bulk Material with Ultra-Low Density for Energy Storage Applications
Compressed Air Energy Storage Systems that Eliminate/Reduce Use of Fossil Fuels
Affordable Batteries with High Durability and Advanced Chemical Compositions
Hydrogen Electrolysis: A Potential Laden Energy Storage Solution
Aquion Energy Develops New Battery for Microgrids

3. PRODUCT LAUNCHES/INTRODUCTIONS

Samsung SDI Launches High-Performance Batteries
Wärtsilä Launches Advanced Energy Storage Solutions in India
BYD Launches MINI-ES, B-Box and Containerized ES
Flex Launches Renewable Advanced BESS
Adara Launches Adara Pulse for Residential Sector
Samsung SDI Releases High-capacity and High-power ESS Batteries Range
NEC Unveils DSS Distributed ES Platform
AEG Develops Hybrid Energy Storage System
Caterpillar Launches Cat Microgrid Technology
JLM Launches Energizr 200, Grid Synergistic Residential ESS
UET Announces Commercial Availability of ReFlex ESS

4. RECENT INDUSTRY ACTIVITY

Schneider Electric Signs MoU with NGK INSULATORS
Toshiba Collaborates with NRG Energy
Greensmith Inks Partnership Deal with AEP to Install 4MW ESS
Cummins to Acquire Assets of Brammo
NEC Announces Dale as Its First Qualified DSS Partner in the UK
BYD Receives Contract to Supply 170-MW Solar Modules
NEC Receives Contract for Supply of GSS to EKZ
Southern Company Initiates Battery Storage Research Project
AES Forms a Joint Venture with Siemens AG
CCL Acquires Firefly Solar Generators
CalCom Sets Up New Energy Storage Business Unit
NEC Chile & NEC Energy Bags Contract for Supply of 2 MW ESS
Maxwell Acquires Assets of Nesscap Energy
NEC and Enspire to Build Large-Scale ESS in Germany
NEC and VLC Sign Contract to Build and Operate ES Projects
Ecoult Forms Partnership with Exide
Ecoult Receives Funds from ARENA for Renewable ES Development
Piller USA Changes its Name to Piller Power Systems Inc.
Piller Power Acquires Active Power
Temporal Power Collaborates with Danfoss
NEC Bags a Contract to Supply “Plug-AndPlay” Battery Grid ESS
Saft Obtains Approval for Seanergy Marine ESS
NEC to Supply 2 MW, 3.9 MWh GSS Grid ESS to SMLD
Powin Corp. Merges with Powin Energy
BYD Collaborates with GoodWe Power
Maxwell Collaborates with CRRC-SRI for Developing Advanced ESS
NEC Energy to Supply 1.2 MWh GBS Battery ESS to Smart Power
Hydrogenics and Phraram Receive Hybrid Project from EGAT
Total to Acquire Saft Group
Convergent and Temporal Ink Agreement to install 5 MW Flywheel ESS
Panasonic and AES to Construct 10MW ES Array in India
NEC Installs GSS Large-Scale ESS in Japan
Sonnedix Solar Commissions First Grid-Scale ESS Project
Corvus Energy Inks Multi-Year Agreement with LG Chem
Saft Forms New Subsidiary, Saft Japan Kabushiki Kaisha
BHTEPCT Selects Maxwell’s Ultracapacitors for Wind Farm ES Project

5. PLAYERS IN THE ADVANCED ENERGY STORAGE ECOSYSTEM

ABB Ltd. (India)
Active Power, Inc. (USA)
AES Energy Storage, LLC (USA)
Alevo Group S. A. (Switzerland)
Altair Nanotechnologies, Inc. (Canada)
Amber Kinetics, Inc. (USA)
Areva (France)
Ashlawn Energy, LLC (USA)
Axion Power International, Inc. (USA)
Beacon Power, LLC (USA)
BYD Co. Ltd. (China)
Calnetix Technologies, LLC (USA)
ECOULT (Australia)
Electrochaea GmbH (Germany)
Encell Technology, Inc. (USA)
EnSync Energy Systems, Inc. (USA)
Exide Technologies (USA)
General Electric Company (USA)
Gridflex Energy, LLC (USA)
Highview Enterprises Ltd. (UK)
Hitachi, Ltd. (Japan)
Hyper Tech Research, Inc. (USA)
IMS group AS (Norway)
ITM Power Plc (UK)
Kokam co., Ltd (Korea)
Leclanché SA (Switzerland)
LG Chem (Korea)
LightSail Energy (USA)
Maxwell Technologies, Inc. (USA)
McPhy Energy S. A. (France)
NEC Energy Solutions (Japan)
NGK Insulators, Ltd. (Japan)
Proton OnSite (USA)
Redflow Limited (Australia)
Saft Groupe S. A. (France)
Samsung SDI Co., Ltd. (South Korea)
Siemens AG (Germany)
Dresser-Rand Group, Inc. (USA)
Temporal Power (Canada)
Tesla, Inc. (USA)
Tianjin Lishen Battery Co., Ltd. (China)
Toshiba International Corporation (USA)
ViZn Energy Systems, Inc. (USA)

6. GLOBAL MARKET PERSPECTIVE

Table 20. World Recent Past, Current and Future Analysis for Advanced Energy Storage by Geographic Region - US, Western Europe, Asia-Pacific, and Rest of World Markets Independently Analyzed with Installed Capacity in MW for Years 2015 through 2024 (includes corresponding Graph/Chart)

Table 21. World 10-Year Perspective for Advanced Energy Storage by Geographic Region - Percentage Breakdown of Installed Capacity for US, Western Europe, Asia-Pacific, and Rest of World Markets for Years 2015, 2017 and 2024 (includes corresponding Graph/Chart)

Table 22. World Recent Past, Current and Future Analysis for Advanced Energy Storage (AES) Systems Market Analyzed with Revenues in US$ Million for Years 2015 through 2024 (includes corresponding Graph/Chart)

III. MARKET

1. THE UNITED STATES

A. Market Analysis
Outlook
Long-term Outlook for Solar Energy to Drive Demand
Favorable US Policies to Improve Solar Power Generation Capabilities
Manufacturers Gear Up to Promote Utility Scale Energy Storage
Rising Number of Energy Storage Projects offer Significant Growth Opportunities
NYC Utility’s Ambitious Plans for Energy Efficiency to Drive ESS Growth

Table 23. Incentives under ConEd’s Demand Management Program by Storage Technology

Small-Scale Renewable Energy Projects: A Threat to Grid-Scale Energy Storage?
Product Launches
Strategic Corporate Developments
Key Players
B. Market Analytics

Table 24. US Recent Past, Current and Future Analysis for Advanced Energy Storage by Installed Capacity in MW for Years 2015 through 2024 (includes corresponding Graph/Chart)

2. WESTERN EUROPE

A. Market Analysis
Outlook
Advanced Energy Storage Gains Momentum in Western Europe
Utility Scale Wind and Solar Power Storage Gain Momentum
Rising Wind-Hydrogen Energy Storage Projects in Germany
Boom in German Solar Market Offers Prospects for Energy Storage
Product Launch
Strategic Corporate Developments
Key Players
B. Market Analytics

Table 25. Western Europe Recent Past, Current and Future Analysis for Advanced Energy Storage by Installed Capacity in MW for Years 2015 through 2024 (includes corresponding Graph/Chart)

3. ASIA-PACIFIC

A. Market Analysis
Outlook
Asia: A Potential Laden Market
Asian Market Dynamics Promote Innovations
Flourishing Solar Power Market Offers Growth Opportunities
Review of Select Markets in the Region
China
Booming Solar Industry to Drive ESS Market
China to Experience Notable Adoption of Energy Storage Systems
India
Increasing Adoption of Renewable Energy Augurs Well for the Market

Table 26. Indian Market for Advanced Energy Storage Systems (2020F): Percentage Share Breakdown of Energy Stored by End-use Applications (includes corresponding Graph/Chart)

Product Launches
Strategic Corporate Developments
Select Regional Players
B. Market Analytics

Table 27. Asia-Pacific Recent Past, Current and Future Analysis for Advanced Energy Storage by Installed Capacity in MW for years 2015 through 2024 (includes corresponding Graph/Chart)

4. REST OF WORLD

A. Market Analysis
Outlook
A Review of Select Nations
Japan’s Focus on Renewable Energy Bodes Well for the Market
Puerto Rico Introduces Mandatory Energy Storage Requirements
Product Launch
Strategic Corporate Developments
Select Players
B. Market Analytics

Table 28. Rest of World Recent Past, Current and Future Analysis for Advanced Energy Storage by Installed Capacity in MW for Years 2015 through 2024 (includes corresponding Graph/Chart)

IV. COMPETITIVE LANDSCAPE

Total Companies Profiled: 94 (including Divisions/Subsidiaries - 102)
The United States (56)
Canada (6)
Japan (5)
Europe (25)
  France (5)
  Germany (6)
  The United Kingdom (6)
  Italy (1)
  Rest of Europe (7)
Asia-Pacific (Excluding Japan) (9)
Latin America (1)