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Pulished Date April, 2021
ID: 10458
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Global Battery Energy Storage Market Segmentation By Element (Battery, Others), By Battery Type (Lithium-Ion, Flow Batteries), By Connection Type (On-Grid and Off-Grid), and Region - Industry Forecast of 2021 to 2026

Pulished: April, 2021
ID: 10458
Pages: 175

Battery Energy Storage Market Value and Growth:

The global battery energy storage market is predicted to grow from USD 2.4 billion in 2021to USD 12.6 billion by 2026, growing at a CAGR of 32.0% from 2021to 2026.

Growing call for continuous energy and electricity storage systems in critical infrastructure, adoption of grid energy storage solutions, and modernization efforts are supporting this market. Network and escalating use of lithium-ion battery energy storage systems due to their excellent characteristics are among the factors that drive the market for battery energy storage systems. Battery energy storage systems can store energy from renewable sources such as the sun and wind. This means that the electricity grid can be supplied using clean natural sources, saving energy production costs and avoiding the dispersion of pollutants in the environment. Energy storage is an advantage due to its quick response and, compared to any fossil fuel, storage technologies can deliver energy much faster. This is an important advantage, especially when the call for electricity increases and exceeds the supply.

Battery Energy Storage Market Trends:

Battery energy storage systems help electricity providers to save excess energy for later use, thus improving the flexibility and reliability of the grid in terms of electricity generation, transmission and distribution. Furthermore, uninterrupted electricity call is predicted to grow exponentially due to continued population expansion, infrastructure development, and rapid industrialization in the coming years.

Battery Energy Storage Recent Developments in Industry:

  • Siemens launched its first storage battery tailored to people's needs. Owners can use the Junelight smart battery to maximize self-generated power consumption, minimize power supply costs, and reduce emissions.
  • Northvolt has launched a new battery energy storage solution, the Voltpack Mobile System, a robust and highly modular lithium-ion battery solution designed as a zero-emission alternative to replace diesel generators.

Battery Energy Storage Market Drivers

Solar and wind energy are the most important types of renewable energy stored in networks. However, the hiding of the sun by clouds or fluctuating wind currents causes variations in the energy production process. These fluctuations create call for flexible grid systems that are employed to store energy. Battery energy storage systems help grid operators save electricity when the electricity produced exceeds the call for electricity. The adoption of these systems improves the reliability and flexibility of the electrical supply systems with respect to the generation, transmission and distribution of electrical energy. During transmission and distribution of electricity, battery energy storage systems can manage asset carry-over, provide frequency regulation, perform harmonic suppression, provide voltage support, and ensure diet quality. The delay of electrical energy, the leveling of the base load and the reduction of peaks, the change of time of the renewable energies and the reaffirmation of the renewable capacity are other benefits offered by battery energy storage systems for solutions connected to the net. All of these factors are driving the adoption of these battery energy storage market.

Battery Energy Storage Restraints:

Battery energy storage technologies, including lithium-ion batteries, flow batteries, and lead-acid batteries, require higher installation investments due to high energy density and improved performance they offer. Lithium-ion batteries are expensive because they offer high energy density, low self-discharge rate, and require less maintenance. However, in the future, the costs of lithium-ion batteries are predicted to decrease. These batteries are also employed in electric vehicles (EVs) because they are light and compact, as well as high capacity.

Opportunities in the Battery Energy Storage Market:

Data centers use an uninterruptible power supply (UPS) to power loads in the event of an emergency when the main power fails. Battery energy storage systems play an important role in eliminating electrical fluctuations in data centers. The combination of inverter and battery energy storage systems ensures a continuous power supply to designated critical loads when grid outages or outages are detected. This leads to an increase in call for UPS from large data centers. This, in turn, is predicted to fuel call for energy storage systems based on lithium-ion and lead-acid batteries. The surveillance data collected and displayed by BMS is useful for data center operators.

Battery Energy Storage Challenges:

The spread of COVID-19 has affected the energy industry supply chain, especially renewable energy technologies and battery energy storage systems. The main components employed in battery energy storage systems are made primarily from APAC. The pandemic has exposed the world's over-reliance on the region, especially China, on essential raw materials.




Market Size Available

2020 – 2025

Base Year


Forecast Period

2021- 2026



Segments Covered

By Product, Type, Consumption, Distribution Channel and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa




Market Leaders Profiled

ABB (Switzerland), Panasonic (Japan), Siemens AG (Germany), Samsung SDI (South Korea), LG Chem (South Korea), General Electric (US), Hitachi (Japan), Tesla (US), Toshiba (Japan), AEG Power Solutions (Netherlands), The AES Corporation (US), Delta Electronics, Inc. (Taiwan), TrinaBESS (China), Primus Power (US), NEC Corporation (Japan), BYD (China), and Johnson Controls (US)

Global Battery Energy Storage Market

Battery Energy Storage Market Segmentation:

By element:

  • Battery
  • Others

The battery segment dominated the worldwide market for battery energy storage systems during the review period, as it is a vital component of this system. The availability of different battery models as needed is driving the expansion.

By battery type:

  • Lithium ion
  • Flow batteries

By battery type, lithium ion batteries represent the largest size in the market. The growing application of lithium-ion batteries in the consumer electronics and automotive industries is escalating their call.

By connection type:

  • On-grid
  • Off-grid

Depending on the type of connection, the grid connection segment is likely to grow at the highest CAGR during foreseen years as it is employed to power consumers and reduce utility spending. Various features like power management, load leveling, spike reduction, etc. stimulate call from the grid connection industry.

Battery Energy Storage Regional Analysis:

  • North America 
  • Europe 
  • Asia Pacific
  • Latin America 
  • Middle East & Africa 

Asia Pacific (APAC) occupied the majority of the global battery energy storage market in 2019. APAC is a hub of the battery energy storage systems industry. APAC is predicted to witness electrification plans in remote areas, most of which are off-grid in various countries. The use of residential energy storage technology will improve access to electricity for these isolated and island communities in the region. Investments in energy storage are predicted to increase dramatically in the region as governments of growing economies develop new policies to improve the reliability and quality of electricity distribution facilities for residential customers. In addition to APAC, North America has a significant market share.

The expansion of the North American market depends on the escalating call for renewable energy storage systems in the residential, non-residential and utility sectors. In 2019, the United States accounted for approximately 0.9 GW of installed battery energy storage system. The main players in the region are companies such as Tesla, ABB, General Electric and Honeywell, which focus on installing and supplying battery-powered energy storage systems. A portfolio of giant lithium-ion projects is predicted to be completed by 2021 in the United States.

Battery Energy Storage Market Key Players:

ABB (Switzerland), Panasonic (Japan), Siemens AG (Germany), Samsung SDI (South Korea), LG Chem (South Korea), General Electric (US), Hitachi (Japan), Tesla (US), Toshiba (Japan), AEG Power Solutions (Netherlands), The AES Corporation (US), Delta Electronics, Inc. (Taiwan), TrinaBESS (China), Primus Power (US), NEC Corporation (Japan), BYD (China), and Johnson Controls (US) are some of the major players in the market.


1. Introduction                             

              1.1 Market Definition                  

              1.2 Scope of the report               

              1.3 Study Assumptions               

              1.4 Base Currency, Base Year and Forecast Periods                       

2. Research Methodology                                       

              2.1 Analysis Design                      

              2.2 Research Phases                    

                             2.2.1 Secondary Research          

                             2.2.2 Primary Research 

                             2.2.3 Data Modelling    

                             2.2.4 Expert Validation 

              2.3 Study Timeline                       

3. Report Overview                                    

              3.1 Executive Summary              

              3.2 Key Inferencees                     

4. Market Dynamics                                   

              4.1 Impact Analysis                      

                             4.1.1 Drivers     

                             4.1.2 Restaints 

                             4.1.3 Opportunities       

              4.2 Regulatory Environment                    

              4.3 Technology Timeline & Recent Trends                         

5. Competitor Benchmarking Analysis                                

              5.1 Key Player Benchmarking                   

                             5.1.1 Market share analysis       

                             5.1.2 Products/Service  

                             5.1.3 Regional Presence

              5.2 Mergers & Acquistion Landscape                   

              5.3 Joint Ventures & Collaborations                     

6. Market Segmentation                                          

              6.1 Battery Energy Storage Market, By Element               

                             6.1.1 Battery     

                             6.1.2 Market Size Estimations & Forecasts (2019-2024) 

                             6.1.3 Y-o-Y Growth Rate Analysis            

                             6.1.4 Market Attractiveness Index          

              6.2 Battery Energy Storage Market, By Battery Type                     

                             6.2.1 Lithium-Ion           

                             6.2.2 Flow Batteries      

                             6.2.3 Market Size Estimations & Forecasts (2019-2024) 

                             6.2.4 Y-o-Y Growth Rate Analysis            

                             6.2.5 Market Attractiveness Index          

              6.3 Battery Energy Storage Market, By Connection Type              

                             6.3.1 On-Grid   

                             6.3.2 Off-Grid   

                             6.3.3 Market Size Estimations & Forecasts (2019-2024) 

                             6.3.4 Y-o-Y Growth Rate Analysis            

                             6.3.5 Market Attractiveness Index          

7. Geographical Landscape                                     

              7.1 Global Identity Governance and Administration Market, by Region                            

              7.2 North America - Market Analysis (2018 - 2024)                        

                             7.2.1 By Country            



                             7.2.2 By Element            

                             7.2.3 By Battery Type    

                             7.2.4 By Connection Type           

              7.3 Europe                      

                             7.3.1 By Country            






                                  Rest of Europe

                             7.3.2 By Element            

                             7.3.3 By Battery Type    

                             7.3.4 By Connection Type           

              7.4 Asia Pacific                

                             7.4.1 By Country            




                                  South Korea

                                  South East Asia

                                  Australia & NZ

                                  Rest of Asia-Pacific

                             7.4.2 By Element            

                             7.4.3 By Battery Type    

                             7.4.4 By Connection Type           

              7.5 Latin America                         

                             7.5.1 By Country            




                                  Rest of Latin America

                             7.5.2 By Element            

                             7.5.3 By Battery Type    

                             7.5.4 By Connection Type           

              7.6 Middle East and Africa                       

                             7.6.1 By Country            

                                  Middle East


                             7.6.2 By Element            

                             7.6.3 By Battery Type    

                             7.6.4 By Connection Type           

8. Key Player Analysis                                

              8.1 ABB Ltd                      

                             8.1.1 Business Description         

                             8.1.2 Products/Service  

                             8.1.3 Financials

                             8.1.4 SWOT Analysis     

                             8.1.5 Recent Developments       

                             8.1.6 Analyst Overview 

              8.2 Panasonic Corporation                       

              8.3 Siemens AG              

              8.4 Samsung SDI                           

              8.5 LG Chem                   

              8.6 General Electric                      

              8.7 Hitachi                       

              8.8 Tesla                          

              8.9 Toshiba                     

              8.10 NEC Corporation                 

9. Market Outlook & Investment Opportunities                             


              List of Tables                   

              List of Figures                 

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail

  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

  1. Global Battery Energy Storage Market By Region, From 2021-2026 ( USD Billion )

  2. Global Battery Energy Storage Market By Element, From 2021-2026 ( USD Billion )

  3. Global Battery Market By Region, From 2021-2026 ( USD Billion )

  4. Global Battery Energy Storage Market By Battery Type, From 2021-2026 ( USD Billion )

  5. Global Lithium-Ion Market By Region, From 2021-2026 ( USD Billion )

  6. Global Flow Batteries Market By Region, From 2021-2026 ( USD Billion )

  7. Global Battery Energy Storage Market By Connection Type, From 2021-2026 ( USD Billion )

  8. Global On-Grid Market By Region, From 2021-2026 ( USD Billion )

  9. Global Off-Grid Market By Region, From 2021-2026 ( USD Billion )

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