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Global Off-grid Energy Storage System Market 2016-2020

  • Published: Sep 2016
  • Pages: 73
  • SKU: IRTNTR10451
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This industry research report identifies Aquion Energy, Green Charge, LG Chem, NEC Energy Solutions, and NRG Energy as the key vendors in the global off-grid energy storage system market. This report also presents a competitive analysis of the market by battery technology (Li-ion, LAB, sodium-based, and others) and by geography (the Americas, APAC, and EMEA).

Overview of the global off-grid energy storage system market

Market research analysts at Technavio predict the global off-grid energy storage system market to grow steadily during the forecast period and estimate the market to post a CAGR of almost 7% by 2020. This market research analysis identifies the growth in demand from the telecom sector as one of the primary growth factors for this market. The recent years have seen an exponential growth of the telecom sector across the globe. To support the rapid explosion in traffic and provide better coverage, telecom operators have started installing new base transceiver stations (BTS). This has led to the installation of telecom towers in remote locations, which resulted in the adoption of diesel generators due to unreliable grid connections. Diesel accounts for more than 40% of the total operating expenditures and also pollutes the environment, which in turn, will induce telecom operators to use off grid energy storage systems to power their BTS. Some of the major telecom operators such as Bharthi Airtel and Eltek have already announced the installation of off grid power storage systems such as lithium-ion batteries and hybrid solar photovoltaic systems for powering their telecom towers.

Focusing on making advancements in the battery storage technology, companies will start increasing their R&D investments to develop new technologies that can considerably reduce battery costs. Aqueous solar flow created by the researches at Ohio State University that involves the integration of solar and lithium-iodine technology, the replacement of silicon anodes for Li-ion batteries with reed leaves, and the adoption of crystal graphene to coat silicon cathodes that resulted in doubling the capacity of Li-ion batteries, are some of the recent advances in the energy storage systems market.

Competitive landscape and key vendors

The off the grid power storage system market is characterized by the presence of a large number of global, regional, and local vendors who provide high-tech and highly customized batteries for battery energy storage. As a result, the market appears to be highly fragmented. The market’s growth potential will encourage the entry of several new players, which will intensify the competition among existing vendors. Additionally, the competitive environment in the market will also intensify due to the introduction of enhanced Li-ion, sodium-sulfur, and advanced LAB products by well-established vendors. In addition to the global and regional vendors, the market is also marked by the presence of several small-scale manufacturers who manufacture and sell batteries. It has been observed that only the players who manage their sales, distribution, and working capital effectively survive and continue their operations in the market, which makes it mandatory for vendors to not only introduce advanced off grid energy storage systems but also have an effective distribution channel.

The leading vendors in the market are -

  • Aquion Energy
  • Green Charge
  • LG Chem
  • NEC Energy Solutions
  • NRG Energy

The other prominent vendors in the market are Amperex Technology, Boston Power, China Aviation Lithium Battery, EnerSys, GE Energy Storage, Mitsubishi Heavy Industries, Primus Power, SAFT, Sumitomo Electric Industries, Toshiba, and Xtreme Power.

Segmentation by battery technology and analysis of the off-grid energy storage system market

  • Li-ion (lithium-ion)
  • LAB (lead-acid batteries)
  • Sodium-based

According to this market research and analysis, the Li-ion battery segment accounted for about 37% of the total market shares and dominated the industry during 2015. Due to the high energy density and charge and discharge capabilities of Li-ion batteries, they are most commonly used in electronic devices such as laptops, smart phones, notebooks, and tablet computers. The increasing demand for such mobile devices across the world, especially from the emerging economies, will fuel the growth of the market.

Geographical segmentation and analysis of the off-grid energy storage system market

  • Americas
  • APAC
  • EMEA

This market study estimates that the Americas will account for more than 44% shares of the off-grid energy storage system market by 2020 and also predicts the region to dominate this market throughout the forecast period. Factors such as the introduction of new policies by the governments, the increasing awareness among the public towards the reduction of CO₂ emissions, the need to overcome intermittent nature of renewables, and developments in battery technology will augment the growth prospects of off grid battery storage market in this region.

Key questions answered in the report include

  • What will the market size and the growth rate be in 2020?
  • What are the key factors driving the global off-grid energy storage system market?
  • What are the key market trends impacting the growth of the global off-grid energy storage system market?
  • What are the challenges to market growth?
  • Who are the key vendors in the global off-grid energy storage system market?
  • What are the market opportunities and threats faced by the vendors in the global off-grid energy storage system market?
  • Trending factors influencing the market shares of the Americas, APAC, and EMEA.
  • What are the key outcomes of the five forces analysis of the global off-grid energy storage system market?

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Table of Contents

PART 01: Executive summary

  • Highlights

PART 02: Scope of the report

  • Market overview
  • Top-vendor offerings

PART 03: Market research methodology

  • Research methodology
  • Economic indicators

PART 04: Introduction

  • Key market highlights

PART 05: Market landscape

  • Market overview
  • Market size and forecast by revenue
  • Five forces analysis

PART 06: Market segmentation by battery technology

  • Global off-grid energy storage system market by battery technology
  • Li-ion battery technology
  • LAB technology
  • Sodium-based battery technology

PART 07: Market segmentation by geography

  • Global off-grid energy storage system market by geography
  • Off-grid energy storage system market in Americas
  • Off-grid energy storage system market in EMEA
  • Off-grid energy storage system market in APAC

PART 08: Market drivers

  • Need for rural electrification
  • Rise in power consumption
  • Demand for energy storage as distributed generation
  • Hike in renewable energy investments
  • Growth in demand from telecom sector

PART 09: Impact of drivers

PART 10: Market challenges

  • Reduction in subsidies
  • Decline in diesel prices
  • Technological challenges related to batteries

PART 11: Impact of drivers and challenges

PART 12: Market trends

  • Decline in cost of energy storage systems
  • Increase in energy storage investments
  • Emergence of new energy technologies

PART 13: Vendor landscape

  • Competitive landscape
  • Other prominent vendors

PART 14: Key vendor analysis

  • Aquion Energy
  • Green Charge
  • LG Chem
  • NEC Energy Solutions
  • NRG Energy

PART 15: Appendix

  • List of abbreviations

PART 16: Explore Technavio

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.

TechnavioINFORMATION 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
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TechnavioDATA 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
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TechnavioREPORT 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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