Report Overview
The Power Energy Storage Battery Market focuses on batteries designed for storing electrical energy for various applications, including grid stabilization, renewable energy integration, backup power, and electric vehicle (EV) charging. These batteries are engineered to offer high energy density, efficiency, and durability, playing a pivotal role in advancing energy transition goals. With increasing demand for renewable energy sources and the electrification of transportation, energy storage batteries are vital in ensuring energy reliability, sustainability, and cost-effectiveness. The market size for power energy storage batteries is estimated at 13729.51million in 2023, with a compound annual growth rate (CAGR) projected at 15.8% from 2024 to 2030. This growth is mainly due to the rapid development of renewable energy, the increasing demand for energy storage in the power market, the cost reduction brought about by technological progress, the growing demand for energy storage and transportation, and the urgent global need to reduce carbon emissions and achieve energy transformation. In addition, the policy support of governments in promoting the transformation of energy structure and the application of energy storage technology has also provided a strong guarantee for the expansion of the energy storage battery system market.
With the acceleration of global energy transformation and the rapid development of renewable energy, the importance of energy storage battery systems in power systems has become increasingly prominent. In addition to the new energy distribution storage on the power generation side and the traditional user-side energy storage field, the application scenarios of industrial and commercial energy storage are constantly expanding. Enterprises are also exploring new uses for products and breaking through the upper limit of lithium battery applications to meet a wider range of market needs. This shows that the new incremental market of the energy storage industry is being actively explored, providing new impetus for the sustainable development of the industry. Specifically, the application scenarios of industrial and commercial energy storage include industrial parks, commercial complexes, data centers, communication base stations, etc. The demand for energy storage battery systems in these scenarios is reflected in peak and valley regulation, backup power supply, microgrids, demand response, charging and swapping equipment, etc. In short, with the continuous expansion of industrial and commercial energy storage application scenarios, the new incremental market of the energy storage industry is being actively explored. This will provide new impetus for the sustainable development of the energy storage industry, promote the continuous innovation of energy storage technology, and meet the growing market demand. At the same time, this will also help promote the optimization of energy structure and the improvement of energy utilization efficiency, and contribute to the realization of global energy transformation and sustainable development goals.
In the upstream link, raw materials and basic materials are the core support for the production of energy storage battery systems. This stage mainly includes the supply of battery materials, such as positive electrode materials (lithium cobalt oxide, lithium iron phosphate, nickel cobalt manganese oxide, etc.), negative electrode materials (graphite, silicon-based materials, etc.), electrolytes and diaphragms and other key materials. The quality of these materials directly affects the performance and cost of the battery. Lithium-ion batteries still dominate the application of electrochemical energy storage technologies that have been put into operation. Taking China as an example, by the end of 2023, the total energy of lithium-ion battery projects put into operation will be 48.77GWh, accounting for 95.89%; followed by lead-acid/lead-carbon batteries, accounting for 2.26%; and flow batteries accounted for 1.02%. Typical upstream companies include lithium material suppliers such as Ganfeng Lithium and Tianqi Lithium, as well as lithium salt producers such as Albemarle and SQM.
The midstream link is the core part of the energy storage battery system industry chain, involving battery manufacturing, system integration and performance testing. Battery manufacturing includes two key steps: battery cell manufacturing and battery packaging. Battery cell manufacturers such as CATL, LG Chem and Samsung SDI use advanced battery technology (such as lithium-ion battery technology) to produce highperformance batteries. Battery packaging is to package the battery cells into battery modules or battery packs to meet different application requirements. System integrators integrate battery systems with power storage converters (PCS), battery management systems (BMS), etc. to form a complete energy storage solution. The performance testing phase is handled by professional suppliers such as DEKRA and TÜV Rheinland, which ensure the safety and reliability of battery systems in various application scenarios through rigorous testing and certification. The downstream links are mainly concentrated in project operations and terminal applications. Project operators apply energy storage battery systems to multiple fields such as power storage, new energy vehicles, home and commercial energy storage, and industrial energy storage.
As battery companies join the energy storage battery system integration track, industry competition is becoming increasingly fierce. Many battery manufacturers such as CATL, BYD, and EVE Energy Storage have begun to gradually get involved in the integration business, from battery cell manufacturing to providing new energy storage battery systems on the DC and AC sides, covering application scenarios such as the power supply side, industrial and commercial side, and user side, and directly participating in all-round competition in the energy storage field. This transformation may put them in a competitive relationship with existing customers, resulting in a comprehensive game in market positioning, product strategy, and other aspects. As one of the world’s largest battery manufacturers, CATL’s products have been widely used in the fields of grid energy storage and new energy vehicles, and have gained market recognition with its excellent costeffectiveness and localized support. BYD has promoted the advancement of local battery technology through independent research and development, especially in the field of lithium iron phosphate batteries, where its market share has gradually increased. This localized innovation not only meets the needs of the domestic market, but also forms a new competitive point in the global market. From January to June 2024, the global energy storage cell shipments reached 114.5 GWh, a year-on-year increase of 33.6%. The top ten companies accounted for a total of 91% of the global market share, maintaining a historically high level.
Overall, the competition in the energy storage battery system market is becoming increasingly fierce, and technological innovation and ecosystem construction have become key factors for companies to win. Leading companies continue to improve product performance through high R&D investment, while emerging companies enter the market through differentiated positioning. In the future, as the technical threshold gradually increases, leading manufacturers may further consolidate their market position through mergers and acquisitions, while regional companies will seek development opportunities driven by policy support and local markets. In the context of involution, the energy storage industry is accelerating its shift from price-driven to valuedriven. The market is no longer just looking for low-priced products, but is more focused on real cost reduction capabilities and value creation. On the commercial and industrial side, energy storage companies are beginning to use advanced technologies such as AI and big data analysis to improve the owners’ profits. For example, by using advanced energy management systems, industrial and commercial users can manage energy consumption more effectively, reduce energy costs, and increase the flexibility of energy use. In addition, the value of energy storage battery systems in providing grid services is also increasing. The application of energy storage battery systems in the power grid can not only improve the stability and reliability of the power grid, but also bring significant economic benefits to grid operators.
This report provides a deep insight into the global Power Energy Storage Battery market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, value chain analysis, etc.
The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Power Energy Storage Battery Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.
In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Power Energy Storage Battery market in any manner.
Global Power Energy Storage Battery Market: Market Segmentation Analysis
The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.
Key Company
CATL
LG Chem
NGK Group
Samsung SDI
ABB Ltd.
AEG
BYD Company Limited
Tesla
MANLY Battery
Fluence Energy
Panasonic
Imergy
SolarCity
Eaton
NEC
OutBack
Saft
The AES Corporation
EOS
S&C Electric Company
Princeton
GE (General Electric)
EnerSys
EVE Energy
Siemens AG
Kokam
Narada
Tata Power Company Limited
Parker Hannifin
Market Segmentation (by Type)
Lithium Ion Battery
All-vanadium Flow Battery
Zinc-bromine Flow Battery
Asvanced Lead-Acid Batteries
Other
Market Segmentation (by Application)
Residential
Commercial
Industrial
Geographic Segmentation
• North America (USA, Canada, Mexico)
• Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
• South America (Brazil, Argentina, Columbia, Rest of South America)
• The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)
Key Benefits of This Market Research:
• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Power Energy Storage Battery Market
• Overview of the regional outlook of the Power Energy Storage Battery Market:
Key Reasons to Buy this Report:
• Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change
• This enables you to anticipate market changes to remain ahead of your competitors
• You will be able to copy data from the Excel spreadsheet straight into your marketing plans, business presentations, or other strategic documents
• The concise analysis, clear graph, and table format will enable you to pinpoint the information you require quickly
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry concerning recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
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Chapter Outline
Chapter 1 mainly introduces the statistical scope of the report, market division standards, and market research methods.
Chapter 2 is an executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the Power Energy Storage Battery Market and its likely evolution in the short to mid-term, and long term.
Chapter 3 makes a detailed analysis of the market’s competitive landscape of the market and provides the market share, capacity, output, price, latest development plan, merger, and acquisition information of the main manufacturers in the market.
Chapter 4 is the analysis of the whole market industrial chain, including the upstream and downstream of the industry, as well as Porter’s five forces analysis.
Chapter 5 introduces the latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 6 provides the analysis of various market segments according to product types, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 7 provides the analysis of various market segments according to application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 8 provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 9 introduces the basic situation of the main companies in the market in detail, including product sales revenue, sales volume, price, gross profit margin, market share, product introduction, recent development, etc.
Chapter 10 provides a quantitative analysis of the market size and development potential of each region in the next five years.
Chapter 11 provides a quantitative analysis of the market size and development potential of each market segment (product type and application) in the next five years.
Chapter 12 is the main points and conclusions of the report.