Decentralized Energy Storage Market by Technology and Geography - Forecast and Analysis 2022-2026

Published: Mar 2022 Pages: 120 SKU: IRTNTR72796

The decentralized energy storage market share is expected to increase by 31216.22 megawatts from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 62.55%.

This decentralized energy storage market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers decentralized energy storage market segmentation by technology (battery energy storage, thermal energy storage, and others) and geography (APAC, North America, Europe, MEA, and South America). The decentralized energy storage market report also offers information on several market vendors, including Aggreko Plc, AT and T Inc., BYD Co. Ltd., David MacBrayne Ltd., Fluence Energy Inc., General Electric Co., LG Chem Ltd., NGK Insulators Ltd., Samsung SDI Co. Ltd., and SENER GRUPO DE INGENIERIA SA among others.

What will the Decentralized Energy Storage Market Size be During the Forecast Period?

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Decentralized Energy Storage Market: Key Drivers, Trends, and Challenges

The change in the global energy mix is notably driving the decentralized energy storage market growth, although factors such as widening demand-supply gap for lithium may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the decentralized energy storage industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Decentralized Energy Storage Market Driver

One of the key factors driving the global decentralized energy storage market growth is the change in the global energy mix. Governments around the world have started focusing on renewable energy resources such as biomass, solar, and wind to reduce GHG emissions. At the end of 2020, renewables accounted for more than 30% of the global power capacity. According to the US Energy Information Administration, renewable energy sources accounted for more than 15% of the total energy consumed in 2020. Similarly, the National Energy Administration of China exceeded its 2020 target due to the rapid installation of solar PV. Europe is also focusing on decarbonization as a part of the strong commitment to the Paris Agreement on Climate Change, 2015. The EU has set a target of 32% of energy from renewable sources by 2030. Such factors will drive the global decentralized energy storage market during the forecast period.

Key Decentralized Energy Storage Market Trend

Rising adoption of microgrids is one of the key decentralized energy storage market trends that is expected to impact the industry positively in the forecast period. Microgrids minimize the costs incurred on extending the main grid to remote areas. For example, in April 2019, the Australian Government proposed a USD 36 million microgrid program to determine the feasibility of using microgrids to supply power to remote and poorly served communities in Australia. In April 2019, the US Congress introduced a bill to create a grant program for Puerto Rico and the US Virgin Islands to fund the development of microgrids, renewable energy resources, and energy storage. Therefore, the increased adoption of microgrids will spur the use of decentralized energy storage, thereby driving the growth of the global decentralized energy storage market during the forecast period.

Key Decentralized Energy Storage Market Challenge

One of the key challenges to the global decentralized energy storage market growth is the Wwdening demand-supply gap for lithium. Li-ion batteries have been adopted by several major EV manufacturers such as Tesla Inc., Honda Motor Co. Ltd., General Motors Co., Ford Motor Co., and Nissan Motor Corp. According to the IEA, China has set targets to sell five million EVs by 2020, while India has also set a target to achieve 30% EV sales by 2030. If the sale of EVs continues to grow at similar rates during the forecast period, the production of lithium needs to be accelerated. Lithium is a metal that is mainly extracted from mines in Australia and South America. Therefore, the rise in the consumption of lithium in EV battery applications has resulted in a shortage of lithium globally for energy storage applications. This demand-supply gap could challenge the growth of the global decentralized energy storage market during the forecast period.

This decentralized energy storage market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global decentralized energy storage market as a part of the global renewable electricity market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the decentralized energy storage market during the forecast period.

Who are the Major Decentralized Energy Storage Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Aggreko Plc
  • AT and T Inc.
  • BYD Co. Ltd.
  • David MacBrayne Ltd.
  • Fluence Energy Inc.
  • General Electric Co.
  • LG Chem Ltd.
  • NGK Insulators Ltd.
  • Samsung SDI Co. Ltd.
  • SENER GRUPO DE INGENIERIA SA

 

This statistical study of the decentralized energy storage market encompasses successful business strategies deployed by the key vendors. The decentralized energy storage market is fragmented and the vendors are deploying growth strategies such as innovation and M&A activity to compete in the market.

Product Insights and News

  • Aggreko Plc - The company offers decentralized energy storage products such as Y.Cube - 30 minutes and Y.Cube - 60 minutes.
  • Aggreko Plc - The rental solutions segment offers power, heating, and cooling services on a rental basis to developed markets.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The decentralized energy storage market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Decentralized Energy Storage Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the decentralized energy storage market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global renewable electricity market includes the following core components:

  • Inputs
  • Operations
  • Distribution and logistics
  • Marketing and sales
  • Aftermarket and service
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

 

Which are the Key Regions for Decentralized Energy Storage Market?

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57% of the market's growth will originate from APAC during the forecast period. China and Australia are the key markets for decentralized energy storage in APAC. Market growth in this region will be faster than the growth of the market in North America and Europe.

The significant increase in energy demand in the countries such as China and the rise in microgrid installations, owing to population growth and the rise in living standards, will facilitate the decentralized energy storage market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 hindered the growth of the decentralized energy storage market in H1 2020. Countries such as China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines were under partial or full lockdowns owing to the COVID-19 pandemic. This reduced the demand for energy storage systems in manufacturing sites during H1 2020. However, in H2 2020, manufacturing and production facilities resumed operations. This helped the market to recover in countries like China and India. Thus, the demand for decentralized energy storage is expected to grow during the forecast period.

What are the Revenue-generating Technology Segments in the Decentralized Energy Storage Market?

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The decentralized energy storage market share growth by the battery energy storage segment will be significant during the forecast period. The significant increase in the demand for batteries in decentralized energy storage (as batteries are used in many critical operations or applications, such as reducing maintenance costs, preventing unscheduled outages, and extending the life of the equipment) will drive the segment growth in the coming years. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the decentralized energy storage market size and actionable market insights on post COVID-19 impact on each segment.

 

Decentralized Energy Storage Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 62.55%

Market growth 2022-2026

31216.22 MW units

Market structure

Fragmented

YoY growth (%)

47.92

Regional analysis

APAC, North America, Europe, MEA, and South America

Performing market contribution

APAC at 57%

Key consumer countries

China, US, Australia, UK, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Aggreko Plc, AT and T Inc., BYD Co. Ltd., David MacBrayne Ltd., Fluence Energy Inc., General Electric Co., LG Chem Ltd., NGK Insulators Ltd., Samsung SDI Co. Ltd., and SENER GRUPO DE INGENIERIA SA

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Decentralized Energy Storage Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive decentralized energy storage market growth during the next five years
  • Precise estimation of the decentralized energy storage market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the decentralized energy storage industry across APAC, North America, Europe, MEA, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of decentralized energy storage market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

***1. Executive Summary                         

               **1.1 Market Overview 

                              *Exhibit 01:  Key Finding 1

                              *Exhibit 02:  Key Finding 2

                              *Exhibit 03:  Key Finding 3

                              *Exhibit 04:  Key Finding 5

                              *Exhibit 05:  Key Finding 6

                              *Exhibit 06:  Key Finding 7

                              *Exhibit 07:  Key Finding 8

***2. Market Landscape                            

               **2.1 Market ecosystem             

                              *Exhibit 08:  Parent market

                              *Exhibit 09:  Market characteristics

               **2.2 Value chain analysis           

                              *2.2.1 Inputs

                              *2.2.2 Inbound logistics

                              *2.2.3 Operations

                              *2.2.4 Marketing and sales

                              *2.2.5 Aftermarket and service

***3. Market Sizing                      

               **3.1 Market segment analysis  

                              *Exhibit 10:  Market segments

               **3.2 Market size 2021 

               **3.3 Market definition

                              *Exhibit 11:  Offerings of vendors included in the market definition

               **3.4 Market outlook: Forecast for 2021 - 2026 

                              *3.4.1 Estimating growth rates for emerging and high-growth markets

                              *3.4.2 Estimating growth rates for mature markets

                              *Exhibit 12:  Global - Market size and forecast 2021 - 2026 ($ million)

                              *Exhibit 13:  Global market: Year-over-year growth 2021 - 2026 (%)

***4. Five Forces Analysis                         

               **4.1 Five Forces Summary         

                              *Exhibit 14:  Five forces analysis 2021 & 2026

               **4.2 Bargaining power of buyers            

                              *Exhibit 15: Bargaining power of buyers

               **4.3 Bargaining power of suppliers        

                              *Exhibit 16: Bargaining power of suppliers

               **4.4 Threat of new entrants     

                              *Exhibit 17: Threat of new entrants

               **4.5 Threat of substitutes          

                              *Exhibit 18: Threat of substitutes

               **4.6 Threat of rivalry   

                              *Exhibit 19: Threat of rivalry

               **4.7 Market condition 

                              *Exhibit 20:  Market condition - Five forces 2021

***5 Market Segmentation by Technology                       

               **5.1 Market segments

                              *Exhibit 21:  Technology - Market share 2021-2026 (%)

               **5.2 Comparison by Technology            

                              *Exhibit 22:  Comparison by Technology

               **5.3 Battery energy storage - Market size and forecast 2021-2026          

                              *Exhibit 23:  Battery energy storage - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 24:  Battery energy storage - Year-over-year growth 2021-2026 (%)

               **5.4 Thermal energy storage - Market size and forecast 2021-2026        

                              *Exhibit 25:  Thermal energy storage - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 26:  Thermal energy storage - Year-over-year growth 2021-2026 (%)

               **5.5 Others - Market size and forecast 2021-2026          

                              *Exhibit 27:  Others - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 28:  Others - Year-over-year growth 2021-2026 (%)

               **5.6 Market opportunity by Technology             

                              *Exhibit 29:  Market opportunity by Technology

***6. Customer landscape                        

               **6.1 Overview

                              *Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

                              *Exhibit 30: ?Customer landscape?

***7. Geographic Landscape                    

               **7.1 Geographic segmentation

                              *Exhibit 31:  Market share by geography 2021-2026 (%)

               **7.2 Geographic comparison    

                              *Exhibit 32: Geographic comparison

               **7.3 APAC - Market size and forecast 2021-2026             

                              *Exhibit 33:  APAC - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 34:  APAC - Year-over-year growth 2021-2026 (%)

               **7.4 North America - Market size and forecast 2021-2026          

                              *Exhibit 35:  North America - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 36:  North America - Year-over-year growth 2021-2026 (%)

               **7.5 Europe - Market size and forecast 2021-2026         

                              *Exhibit 37:  Europe - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 38:  Europe - Year-over-year growth 2021-2026 (%)

               **7.6 MEA - Market size and forecast 2021-2026              

                              *Exhibit 39:  MEA - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 40:  MEA - Year-over-year growth 2021-2026 (%)

               **7.7 South America - Market size and forecast 2021-2026          

                              *Exhibit 41:  South America - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 42:  South America - Year-over-year growth 2021-2026 (%)

               **7.8 Key leading countries        

                              *Exhibit 43:  Key leading countries

               **7.9 Market opportunity by geography

                              *Exhibit 44:  Market opportunity by geography ($ billion)

***8. Drivers, Challenges, and Trends                  

               **8.1 Market drivers      

                              *8.1.1 Change in the global energy mix

                              *8.1.2 Rising need for backup power

                              *8.1.3 Growing economic benefits of energy storage systems

               **8.2 Market challenges              

                              *8.2.1 Widening demand-supply gap for lithium

                              *8.2.2 Stringent laws against lead pollution

                              *8.2.3 Competition from fuel cells

                              *Exhibit 45:  Impact of drivers and challenges

               **8.3 Market trends      

                              *8.3.1 Rising adoption of microgrids

                              *8.3.2 Development of smart cities and ZEBs

                              *8.3.3 Advances in energy storage technologies

***9. Vendor Landscape                            

               **9.1 Overview

                              *Exhibit 46: Vendor landscape

                              *The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025. 

               **9.2 Landscape disruption         

                              *Exhibit 47: ?Landscape disruption?

                              *Exhibit 48: Industry risks

***10. Vendor Analysis               

               **10.1 Vendors covered              

                              *Exhibit 49: Vendors covered

               **10.2 Market positioning of vendors    

                              *Exhibit 50: ?Market positioning of vendors?

               **10.3 Aggreko Plc         

                              *Exhibit 51:  Aggreko Plc - Overview

                              *Exhibit 52:  Aggreko Plc - Business segments

                              *Exhibit 53:  Aggreko Plc - Key offerings

                              *Exhibit 54:  Aggreko Plc - Key news

                              *Exhibit 55:  Aggreko Plc - Segment focus

               **10.4 AT and T Inc.      

                              *Exhibit 56:  AT and T Inc. - Overview

                              *Exhibit 57:  AT and T Inc. - Product and service

                              *Exhibit 58:  AT and T Inc. - Key offerings

                              *Exhibit 59:  AT and T Inc. - Key news

                              *Exhibit 60:  AT and T Inc. - Segment focus

                              *10.5 BYD Co. Ltd.

               **Exhibit 61:  BYD Co. Ltd. - Overview

                              *Exhibit 62:  BYD Co. Ltd. - Business segments

                              *Exhibit 63:  BYD Co. Ltd. - Key offerings

                              *Exhibit 64:  BYD Co. Ltd. - Key news

                              *Exhibit 65:  BYD Co. Ltd. - Segment focus

               **10.6 David MacBrayne Ltd.     

                              *Exhibit 66:  David MacBrayne Ltd. - Overview

                              *Exhibit 67:  David MacBrayne Ltd. - Business segments

                              *Exhibit 68:  David MacBrayne Ltd. - Key offerings

                              *Exhibit 69:  David MacBrayne Ltd. - Segment focus

               **10.7 Fluence Energy Inc.         

                              *Exhibit 70:  Fluence Energy Inc. - Overview

                              *Exhibit 71:  Fluence Energy Inc. - Business segments

                              *Exhibit 72:  Fluence Energy Inc. - Key offerings

                              *Exhibit 73:  Fluence Energy Inc. - Key news

                              *Exhibit 74:  Fluence Energy Inc. - Segment focus

               **10.8 General Electric Co.         

                              *Exhibit 75:  General Electric Co. - Overview

                              *Exhibit 76:  General Electric Co. - Business segments

                              *Exhibit 77:  General Electric Co. - Key offerings

                              *Exhibit 78:  General Electric Co. - Key news

                              *Exhibit 79:  General Electric Co. - Segment focus

               **10.9 LG Chem Ltd.      

                              *Exhibit 80:  LG Chem Ltd. - Overview

                              *Exhibit 81:  LG Chem Ltd. - Business segments

                              *Exhibit 82:  LG Chem Ltd. - Key offerings

                              *Exhibit 83:  LG Chem Ltd. - Segment focus

               **10.10 NGK Insulators Ltd.       

                              *Exhibit 84:  NGK Insulators Ltd. - Overview

                              *Exhibit 85:  NGK Insulators Ltd. - Business segments

                              *Exhibit 86:  NGK Insulators Ltd. - Key offerings

                              *Exhibit 87:  NGK Insulators Ltd. - Key news

                              *Exhibit 88:  NGK Insulators Ltd. - Segment focus

               **10.11 Samsung SDI Co. Ltd.    

                              *Exhibit 89:  Samsung SDI Co. Ltd. - Overview

                              *Exhibit 90:  Samsung SDI Co. Ltd. - Business segments

                              *Exhibit 91:  Samsung SDI Co. Ltd. - Key offerings

                              *Exhibit 92:  Samsung SDI Co. Ltd. - Key news

                              *Exhibit 93:  Samsung SDI Co. Ltd. - Segment focus

               **10.12 SENER GRUPO DE INGENIERIA SA            

                              *Exhibit 94:  SENER GRUPO DE INGENIERIA SA - Overview

                              *Exhibit 95:  SENER GRUPO DE INGENIERIA SA - Product and service

                              *Exhibit 96:  SENER GRUPO DE INGENIERIA SA - Key offerings

                              *Exhibit 97:  SENER GRUPO DE INGENIERIA SA - Key customers

                              *Exhibit 98:  SENER GRUPO DE INGENIERIA SA - Segment focus

***11. Appendix                           

               **11.1 Scope of the report         

                              *11.1.1 ????Market definition

                              *11.1.2 ????Objectives

                              *11.1.3 Notes and Caveats

               **11.2 Currency conversion rates for US$            

                              *Exhibit 99: ?Currency conversion rates for US$?

               **11.3 Research Methodology   

                              *Exhibit 100: ?Research Methodology

                              *Exhibit 101: ??Validation techniques employed for market sizing?

                              *Exhibit 102: ??Information sources

               **11.4 List of abbreviations        

                              *Exhibit 103: List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape

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Key Questions Answered

  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?

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