Energy

04 Sep 2024  |  Global  |  Market Research

Growth Opportunities for the Grid-scale Battery Energy Storage Systems (BESS) Industry

The Era of Flexibility is Approaching the Mainstream, Intensifying Competition and Requiring New Strategies to Capture Value

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Global grid-scale battery energy storage system (BESS) deployment experienced unprecedented growth in 2023, expanding 159.5% from 2022. The year 2024 will break another record in new installations, with deployments of 41.84 GW/104.67 GWh. BESS has rapidly become the fastest-growing clean energy technology, driven by the growth of wind and solar ...

Energy decentralization, supportive regulations and policies, greater focus on sustainability, and the crucial development of a hydrogen economy will drive the stationary fuel cell industry growth during the next decade. The broader market for decentralized energy solutions thrives as residential, commercial, and industrial customers seek greater e...

Battery energy storage systems (BESS) have rapidly become the fastest-growing clean energy technology driven by the growth of wind and solar and the need for grid flexibility. While commercial and industrial (C&I) BESS installations have traditionally lagged behind grid-scale and residential deployments, the sector holds considerable opportunit...

Fueled by the rising adoption of autonomous technologies, digital twins are emerging as an attractive growth opportunity in the oil and gas (O&G) industry. Digital twin technology helps O&G firms utilize and analyze enormous amounts of production data, enabling them to visualize various hypothetical production scenarios in real time. Digital twi...

This Frost & Sullivan analysis examines the increasing demand for generator services due to the growing need for generators in the commercial and industrial sectors as well as the factors that will drive or limit the market in the next ten years. The demand for power and the growing awareness among customers about the advantages of digital solution...

Alternative fuels will play a major role in achieving global decarbonization pathways, with the market poised for extremely strong growth over the forecast period (2024‒2030). This study focuses on dynamic and disruptive companies shaping the market across 3 main segments: biofuels, biogas, and eFuels. The industry sometimes refers to eFuels as s...

Battery energy storage systems (BESS) have become the fastest-growing clean energy technology driven by the growth of intermittent renewables and the need for grid flexibility. Homeowners are turning to batteries to maximize solar energy consumption, manage energy demand more efficiently, control costs, and reduce carbon footprint. Residential batt...

Battery energy storage systems (BESS) are crucial in enabling the energy transition. Their deployment is essential to providing electricity systems' flexibility to support higher electrification, relying primarily on variable renewable energy (RE) sources. At the behind-the-meter (BTM) level, batteries are also increasingly recognized as a critical...

The global residential heat pump (HP) market is forecast to reach 17.0 million units by 2035, up from 7.6 million in 2024. Market definitions are important to the market forecast, and Frost & Sullivan excludes the sale of HPs for air conditioning. Market revenues are forecast to reach $80.43 billion by 2035, at a CAGR of 8.5% from 2024 to 2035. As ...