Global battery energy storage (BES) deployment grew 51.8% in 2022 from 2021, with 17.54 GW/38.2 GWh commissioned. 2022 was a historic turning point in the clean energy transition.
Despite constraints in the supply of critical minerals and materials, shipping, and sitting and permitting processes, BES is a burgeoning technology poised for accelerated growth. A mix of geopolitical, economic, and climate factors pushed governments to scale the extent and pace of climate action. Governments formed policies and plans with long-term effects for renewable energy (RE) and BES, a critical element for the much-needed flexibility and resilience that modern energy systems require. Frost & Sullivan forecasts the global market to grow nearly six-fold, reaching
$71.98 billion with a cumulative capacity of 499.10 GW/1,340.00 GWh by 2030.
BES market expansion is bringing higher sophistication and specialization through the value chain, leading to the diversification of business models and opportunities in BES systems. Considerable growth is expected in AI-based software platforms, multi-technology power purchase agreements (PPAs), second-life applications, and increasing use of batteries in hybrid systems, data centers, fast charging infrastructure, power retailers’
net-zero homes programs, and virtual power plants (VPPs).
This study provides a regional-level forecast and analysis of how residential, commercial and industrial, and grid-scale battery storage capacity and investments will evolve through the course of this decade, with deep dives into main countries. It discusses the main trends in supply, technology, business models, and use cases. In addition, it highlights growth opportunities for industry participants, including co-location, second-life batteries, and digital products.
Author: Maria Benintende
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the Battery Energy Storage Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Key Findings
Scope of Analysis
Key Trends in Battery Energy Storage
Key Trends in Battery Energy Storage (continued)
Trend 1. R&D for New Chemistries Continues, but the Market is Still Not Diversified
Trend 2. Merchant BES Is on the Rise
Trend 3. Lithium, is it the Limiting Factor?
Trend 3. Lithium, is it the Limiting Factor? (continued)
Trend 4. Solar plus Storage Is the Perfect Match
Trend 5. Flow Batteries, How Much Longer Should We Wait?
Trend 6. AI-based Software Platforms for BES
Trend 7. Circular Economy is Benefitting BES
Trend 7. Circular Economy is Benefitting BES (continued)
Trend 8. Transport Electrification is Driving Stationary BES Businesses
Trend 9. Supply Chain Localization
Trend 10. 24-7 Clean Electricity
Trend 11. Beyond MW and MWh Counts, Innovative Business Models to Drive Higher Revenue from BES
Trend 12. Co-located BES
Trend 12. Co-located BES (continued)
Growth Opportunities Snapshot
BES Use Cases
Market Attractiveness Assessment by Segment and Region
What do Attractive Markets for BES Have in Common?
What do Attractive Markets for BES Have in Common? (continued)
Value Chain Analysis—Front-of-the-Meter BES
Key Competitors—Front-of-the-Meter BES
Value Chain Analysis—Behind-the-Meter BES
Key Competitors—Behind-the-Meter BES
Growth Metrics
Growth Drivers
Growth Restraints
Forecast Assumptions
Cumulative Power Capacity Forecast
Annual Power Capacity Forecast
Annual Energy Capacity Forecast
Revenue Forecast
Capacity and Revenue Forecast Analysis
Growth Metrics—Residential
Annual Energy Capacity Forecast—Residential
Unit Forecast—Residential
Forecast Analysis—Residential
Growth Metrics—Commercial and Industrial
Annual Energy Capacity Forecast—Commercial and Industrial
Power Capacity Forecast—Commercial and Industrial
Forecast Analysis—Commercial and Industrial
Growth Metrics—Grid-scale
Annual Energy Capacity Forecast—Grid-scale
Cumulative Annual Power Capacity Forecast—Grid-scale
Forecast Analysis—Grid-scale
Cumulative Power Capacity Forecast by Segment—Europe
Cumulative Power Capacity Forecast by Country—Europe
Forecast Analysis—Europe
Cumulative Power Capacity Forecast by Segment—North America
Cumulative Power Capacity Forecast by Country—North America
Forecast Analysis—North America
Cumulative Power Capacity Forecast by Segment—Asia
Cumulative Power Capacity Forecast by Country—Asia
Forecast Analysis—Asia
Cumulative Power Capacity Forecast by Segment—Latin America, Middle East and Africa
Cumulative Power Capacity Forecast by Region—Latin America, Middle East and Africa
Forecast Analysis—Latin America, Middle East and Africa
Key Country Analysis—Germany
Key Country Analysis—Italy
Key Country Analysis—United Kingdom
Key Country Analysis—United States
Key Country Analysis—Canada
Key Country Analysis—China
Key Country Analysis—India
Key Country Analysis—Australia
Key Country Analysis—Japan
Growth Opportunity 1: Energy Storage-as-a-Service for C&I Customers
Growth Opportunity 1: Energy Storage-as-a-Service for C&I Customers (continued)
Growth Opportunity 2: Mobile Energy Storage Rentals for Grid Enhancement
Growth Opportunity 2: Mobile Energy Storage Rentals for Grid Enhancement (continued)
Growth Opportunity 3: Optimization and Trading Platforms to Maximize Value for Merchant Storage
Growth Opportunity 3: Optimization and Trading Platforms to Maximize Value for Merchant Storage (continued)
Growth Opportunity 4: EV’s Second-life Batteries for Stationary Storage
Growth Opportunity 4: EV’s Second-life Batteries for Stationary Storage (continued)
Growth Opportunity 5: Grid-Interactive Low-Carbon Data Centers
Growth Opportunity 5: Grid-Interactive Low-Carbon Data Centers (continued)
Growth Opportunity 6: Gas Turbines/Generators + Storage Retrofits
Growth Opportunity 6: Gas Turbines/Generators + Storage Retrofits (continued)
List of Exhibits
List of Exhibits (continued)
Legal Disclaimer
List of Figures- Battery Energy Storage: Key Markets for Merchant BES Opportunities, Global, 2021
- Battery Energy Storage: Lithium Demand Forecast (in 1,000 Metric Tons of Lithium Carbonate Equivalent), Global, 2021 and 2030
- Battery Energy Storage: Top Automotive EV OEM Plans and Alliances, Global, 2022
- Battery Energy Storage: Battery Manufacturing Cumulative Capacity, Key Geographies, 2021 and 2030
- Battery Energy Storage: Use Cases by Segment and Timescale, Global, 2022
- Grid-scale Battery Energy Storage: Value Chain Analysis, Global, 2022
- Residential and C&I Battery Energy Storage: Value Chain Analysis, Global, 2022
- Battery Energy Storage: Growth Metrics, Global, 2022
- Battery Energy Storage: Growth Drivers, Global, 2023–2030
- Battery Energy Storage: Growth Restraints, Global, 2023–2030
- Battery Energy Storage: Cumulative Power Capacity Forecast by Segment, Global, 2019–2030
- Battery Energy Storage: Annual Power Capacity Forecast by Segment, Global, 2019–2030
- Battery Energy Storage: Annual Energy Capacity Forecast by Segment, Global, 2019–2030
- Battery Energy Storage: Revenue Forecast by Segment, Global, 2019–2030
- Residential Battery Energy Storage: Growth Metrics, Global, 2022
- Residential Battery Energy Storage: Annual Energy Capacity Forecast by Region, Global, 2019–2030
- Residential Battery Energy Storage: Units Forecast in Top 10 Countries, Global, 2022 and 2030
- Commercial and Industrial Battery Energy Storage: Growth Metrics, Global, 2022
- Commercial and Industrial Battery Energy Storage: Annual Energy Capacity Forecast by Region, Global, 2019–2030
- Commercial and Industrial Battery Energy Storage: Power Capacity Forecast in Top 10 Countries, Global, 2022 and 2030
- Grid-scale Battery Energy Storage: Growth Metrics, Global, 2022
- Grid-scale Battery Energy Storage: Annual Energy Capacity Forecast by Region, Global, 2019–2030
- Grid-scale Battery Energy Storage: Cumulative Power Capacity Additions Forecast by Geography, Global, 2023–2030
- Battery Energy Storage: Cumulative Power Capacity Forecast by Segment, Europe, 2019–2030
- Battery Energy Storage: Cumulative Power Capacity Forecast by Country, Europe, 2019–2030
- Battery Energy Storage: Cumulative Power Capacity Forecast by Segment, North America, 2019–2030
- Battery Energy Storage: Cumulative Power Capacity Forecast by Country, North America, 2019–2030
- Battery Energy Storage: Cumulative Power Capacity Forecast by Segment, Asia, 2019–2030
- Battery Energy Storage: Cumulative Power Capacity Forecast by Country, Asia, 2019–2030
- Battery Energy Storage: Cumulative Power Capacity Forecast by Segment, Rest of World, 2019–2030
- Battery Energy Storage: Cumulative Power Capacity Forecast by Region, Rest of World, 2019–2030
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Global battery energy storage (BES) deployment grew 51.8% in 2022 from 2021, with 17.54 GW/38.2 GWh commissioned. 2022 was a historic turning point in the clean energy transition.
Despite constraints in the supply of critical minerals and materials, shipping, and sitting and permitting processes, BES is a burgeoning technology poised for accelerated growth. A mix of geopolitical, economic, and climate factors pushed governments to scale the extent and pace of climate action. Governments formed policies and plans with long-term effects for renewable energy (RE) and BES, a critical element for the much-needed flexibility and resilience that modern energy systems require. Frost & Sullivan forecasts the global market to grow nearly six-fold, reaching
$71.98 billion with a cumulative capacity of 499.10 GW/1,340.00 GWh by 2030.
BES market expansion is bringing higher sophistication and specialization through the value chain, leading to the diversification of business models and opportunities in BES systems. Considerable growth is expected in AI-based software platforms, multi-technology power purchase agreements (PPAs), second-life applications, and increasing use of batteries in hybrid systems, data centers, fast charging infrastructure, power retailers’
net-zero homes programs, and virtual power plants (VPPs).
This study provides a regional-level forecast and analysis of how residential, commercial and industrial, and grid-scale battery storage capacity and investments will evolve through the course of this decade, with deep dives into main countries. It discusses the main trends in supply, technology, business models, and use cases. In addition, it highlights growth opportunities for industry participants, including co-location, second-life batteries, and digital products.
Author: Maria Benintende
| Deliverable Type | Market Research |
|---|---|
| Author | Maria Benintende |
| Industries | Energy |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | Battery Energy Storage Market |
| Keyword 2 | Battery Storage Market |
| Keyword 3 | Energy Storage Trends |
| List of Charts and Figures | Battery Energy Storage: Key Markets for Merchant BES Opportunities, Global, 2021~ Battery Energy Storage: Lithium Demand Forecast (in 1,000 Metric Tons of Lithium Carbonate Equivalent), Global, 2021 and 2030~ Battery Energy Storage: Top Automotive EV OEM Plans and Alliances, Global, 2022~ Battery Energy Storage: Battery Manufacturing Cumulative Capacity, Key Geographies, 2021 and 2030~ Battery Energy Storage: Use Cases by Segment and Timescale, Global, 2022~ Grid-scale Battery Energy Storage: Value Chain Analysis, Global, 2022~ Residential and C&I Battery Energy Storage: Value Chain Analysis, Global, 2022~ Battery Energy Storage: Growth Metrics, Global, 2022~ Battery Energy Storage: Growth Drivers, Global, 2023–2030~ Battery Energy Storage: Growth Restraints, Global, 2023–2030~ Battery Energy Storage: Cumulative Power Capacity Forecast by Segment, Global, 2019–2030~ Battery Energy Storage: Annual Power Capacity Forecast by Segment, Global, 2019–2030~ Battery Energy Storage: Annual Energy Capacity Forecast by Segment, Global, 2019–2030~ Battery Energy Storage: Revenue Forecast by Segment, Global, 2019–2030~ Residential Battery Energy Storage: Growth Metrics, Global, 2022~ Residential Battery Energy Storage: Annual Energy Capacity Forecast by Region, Global, 2019–2030~ Residential Battery Energy Storage: Units Forecast in Top 10 Countries, Global, 2022 and 2030~ Commercial and Industrial Battery Energy Storage: Growth Metrics, Global, 2022~ Commercial and Industrial Battery Energy Storage: Annual Energy Capacity Forecast by Region, Global, 2019–2030~ Commercial and Industrial Battery Energy Storage: Power Capacity Forecast in Top 10 Countries, Global, 2022 and 2030~ Grid-scale Battery Energy Storage: Growth Metrics, Global, 2022~ Grid-scale Battery Energy Storage: Annual Energy Capacity Forecast by Region, Global, 2019–2030~ Grid-scale Battery Energy Storage: Cumulative Power Capacity Additions Forecast by Geography, Global, 2023–2030~ Battery Energy Storage: Cumulative Power Capacity Forecast by Segment, Europe, 2019–2030~ Battery Energy Storage: Cumulative Power Capacity Forecast by Country, Europe, 2019–2030~ Battery Energy Storage: Cumulative Power Capacity Forecast by Segment, North America, 2019–2030~ Battery Energy Storage: Cumulative Power Capacity Forecast by Country, North America, 2019–2030~ Battery Energy Storage: Cumulative Power Capacity Forecast by Segment, Asia, 2019–2030~ Battery Energy Storage: Cumulative Power Capacity Forecast by Country, Asia, 2019–2030~ Battery Energy Storage: Cumulative Power Capacity Forecast by Segment, Rest of World, 2019–2030~ Battery Energy Storage: Cumulative Power Capacity Forecast by Region, Rest of World, 2019–2030~ |
| Podcast | No |
| WIP Number | MGDE-01-00-00-00 |
Battery Energy Storage Growth Opportunities
Battery Energy Storage Growth Opportunities Updated Research Available Updated Research Available
Renewed Governmental Support for Clean Energy Transition Propels an Already Fast growing Industry
RELEASE DATE
06-Feb-2023
06-Feb-2023
REGION
Global
Global
Deliverable Type
Market Research
Market Research
Research Code: MGDE-01-00-00-00
SKU: EG02304-GL-MR_27436
$4,000.00
Out of stock
SKU
EG02304-GL-MR_27436
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