The
global battery market for energy storage
systems (ESS) since 2016 and the market is poised to grow by 1477.40 MW in
terms of units during 2019-2023, progressing at a CAGR of over 9% during the
forecast period.
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Read the 119-page research report with TOC on "Global
Battery Market for Energy Storage Systems (ESS) Analysis Report by Technology
(lithium batteries, sodium batteries, and others), by Geography (APAC, Europe,
North America, and RoW), and Segment Forecasts, 2019 - 2023"
The market is driven by the increasing economic benefits of ESS.
In addition, several advances in battery ESS technologies are anticipated to
further boost the growth of the battery market for ESS.
The growing focus on the installation of solar PV across various
end-user industries including utility, commercial, industrial, and residential
sectors is driving the popularity of energy storage systems. Several countries
are experiencing heavy loads and power outages due to the growing demand for
power during peak hours. This is driving the adoption of renewables in the
energy mix and thus the need for ESS. Thus, the increasing economic benefits of
ESS are expected to drive the market during the forecast period.
Major
Five Battery
Market for Energy Storage Systems (ESS) Companies:
BYD Company Ltd.
BYD Company Ltd. owns and operates businesses under various
segments such as automobiles and related products, mobile handset components
and assembly service, rechargeable batteries and photovoltaic, and others. The
company is expanding its production capacity in the new energy vehicle
industry. The company launched the first electric bus leasing program in the US
in July 2018.
Kokam
Kokam manufactures various systems including Kokam containerized
energy storage system (KCE), Kokam all in one series, Kokam uninterruptible
power supply (KUPS) series, and community energy storage (CES). In addition,
the company launched K-UPS, a new line of Li-ion high UPS battery racks in July
2018.
LG Chem
LG Chem has business operations under various segments, namely
basic materials & chemicals, energy solutions, IT & electronic
materials and advanced materials, life sciences, and common and others. The
company provides efficient energy solutions to its customers and offers battery
cells, battery packs, battery modules, and battery rack systems.
NGK INSULATORS, LTD.
NGK INSULATORS, LTD. owns and operates businesses under various
segments such as power, ceramics, electronics, and process technology. The
company offers NAS battery energy. The NAS is a large-scale battery system with
advantages such as long duration, high power, and long-life expectancy.
SAMSUNG SDI CO., LTD.
SAMSUNG SDI CO., LTD. has business operations under various
segments such as energy solutions and electronic materials. The company’s key
offerings in the battery ESS include energy platform, medium platform, 1,500
high voltage platform, and 40FT ISO container platform.
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