This report analyzes the worldwide markets for Advanced Energy Storage in terms of installed capacity (in Megawatts). The report provides separate comprehensive analytics for the US, Western Europe, Asia-Pacific, and Rest of World. Annual estimates and forecasts are provided for the period 2015 through 2024. Market data and analytics are derived from primary and secondary research. Company profiles are primarily based on public domain information including company URLs.
The report profiles 99 companies including many key and niche players such as -
I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS Study Reliability and Reporting Limitations I-1 Disclaimers I-2 Data Interpretation & Reporting Level I-2 Quantitative Techniques & Analytics I-3 Product Definitions and Scope of Study I-3 II. EXECUTIVE SUMMARY 1. INDUSTRY OVERVIEW II-1 Rising Share of Intermittent Sources of Energy in Utility Energy Generation Portfolio: The Cornerstone for the Growth of Utility Grade Advanced Energy Storage Technologies II-1 Table 1: Growing Share of Renewables Against the Backdrop of the Focus on Decarbonization of Human Civilization to Open New Opportunities for Grid Level Advanced Energy Storage: World Energy Production (In Billion Kilowatt Hours) by Energy Source for the Years 2017, 2020, 2030 and 2040 (includes corresponding Graph/Chart) II-3 Review of Renewable Energy Projects Undertaken Worldwide and Regulations Supporting Renewable Electricity-to-Grid Integration II-3 Declining Cost of Wind and Solar Power Make Renewables an Important Part of Utility Energy Portfolio II-6 Table 2: Falling Cost of Energy Storage Technologies to Boost Market Prospects Over the Long-Term Period: Global Levelized Cost of Energy Storage Technologies in Utilities (In US$ Per MWh) by Type for the Years 2015 and 2030 (includes corresponding Graph/Chart) II-7 Table 3: Highlighting Rapidly Falling Costs, the Inverse Relationship Between Renewable Energy Investments and Total Capacity Deployed is Poised to Boost Renewable Electricity-to-Grid Integration: Global Breakdown of Renewable Investments (In US$ Billion) and Deployed Capacity (In GW) for Solar, Wind, Hydropower, and Biomass for the Years 2015 & 2017 (includes corresponding Graph/Chart) II-8 Escalating Climate Change Adds Urgency to the Renewable Energy Revolution Underway in the Global Economy II-8 How the Renewable Energy Boom Benefits Advanced Energy Storage Technologies II-9 Table 4: Rising Global Temperatures Accelerate the Focus on Renewables as the Silver Lining in Energy Sustainability: Global Increase in Surface Temperatures (In Centigrade) for the Years 1952, 1981, 1998 and 2017 (includes corresponding Graph/Chart) II-10 Despite Declines in Renewable Investments, Outlook for Advanced Energy Storage Remains Bright II-10 Table 5: Amid the Paradoxically Inverse Relationship Between Annual Investments & New Capacity Build-Out in Renewables, Outlook for Advanced Energy Storage Technologies Remain Unchanged Despite the Decline in Renewable Energy Investments: Global New Investments in Renewable Energy (In US$ Million) for the Years 2011, 2015 and 2017 (includes corresponding Graph/Chart) II-11 Prolonged Softness in Oil Prices: What It Means for Renewable-to-Grid Integration II-11 Table 6: Against the Backdrop of Reducing Share of Oil as a Source for Electricity Generation, the Prolonged Softness in Oil Prices is Not Expected to Have a Sizable Impact On Renewable-to-Grid Integration: Global Crude Oil Prices (In US$ Per Barrel) for the Years 2012 Through 2040P (includes corresponding Graph/Chart) II-12 Table 7: Global % Share of Electricity Produced from Oil Sources for the Years 1973, 1985, 2000, 2010, 2017 (includes corresponding Graph/Chart) II-13 Although Lower Than Pre-Recession Levels, World Demand for Energy Will Remain a Key Driver of Growth II-13 Table 8: Global Growth in Energy Demand Although Decelerating Will Provide a Fertile Platform for the Growth & Evolution of Advanced Energy Storage Solutions: Global Energy Demand & Growth (In Million Tonnes of Oil Equivalent (Mtoe)) for the Years 1990, 2000, 2010, 2020, 2030 and 2040 (includes corresponding Graph/Chart) II-14 Major Market Trends and Drivers II-14 Rising Investments in Energy Storage Projects Bodes Well for the Growth of Advanced Energy Storage Technologies II-14 Table 9: Global Number of Grid Connected Energy Storage Projects by Country for the Year 2017 (includes corresponding Graph/Chart) II-15 Aging Energy Infrastructure Drives Opportunities for Energy Storage as a Method of Modernizing Energy Grids II-15 Table 10: Given the Damaging Impact of Power Loss to the Economy and Future GDP Growth, Growing Investments in Electricity Infrastructure Upgrades Bodes Well for Market Growth: Global Investments in Electricity Networks and Storage (In US$ Billion) for the Years 2000, 2008, 2012, 2016, and 2018 (includes corresponding Graph/Chart) II-16 Table 11: Aging Infrastructure Urges the Importance of Upgrades: Breakdown of Average Age of Utilities by Type, their Current Value and Cost of Replacement (In US$ Billion) for the Year 2017, Taking the U.S as a Case in Point (includes corresponding Graph/Chart) II-17 Table 12: With the Largest Negative Gap in Infrastructure Funding & the Resulting Risk of Ignoring Aging Infrastructure Weighing Down More Heavily than the Financial Burden of Modernization, the U.S Emerges as One of the Markets With the Strongest Potential for Advanced Energy Storage Technologies: Breakdown of Actual & Needed Infrastructure Spending (as a % of GDP) in Select Countries for the Year 2017 (includes corresponding Graph/Chart) II-18 Are Batteries Ready for Mass Commercialization in Grid-Level Energy Storage? II-18 Table 13: Electro-Chemical Batteries Poised to Become the Grid Scale Energy Storage Technology of Choice for “Minutes to Seconds” and “Daily Storage” Applications in Utilities: Global Percentage Breakdown of Installed Capacity by Grid Connected Energy Storage by Technology for the Years 2014, 2017 and 2020 (includes corresponding Graph/Chart) II-19 “Value Stacking”: A Vital Product Development & Design Strategy to Counter the High CAPEX of Battery Energy Storage Technologies II-20 Lithium Ion (Li-ion) Batteries: The Leader in Utility-Scale Applications II-20 Price of Li-ion Batteries Fall, But Not at the Rate Required for Mass Adoption II-21 Table 14: Falling Cost of Li-ion to Benefit Adoption in Stationary Energy Storage Applications: Global Cost of Battery Technologies in Utility Applications (In US$ Per KWh) by Type for the Years 2014, 2017, and 2022 (includes corresponding Graph/Chart) II-21 Table 15: Favorable Decline in Prices of Myriad Lithium-ion Chemistries for Utility-Scale Applications to Bring Out Lithium-ion as the Winning Technology in the Battery Based Energy Storage Space: Global Prices of lithium-ion chemistries for utility-scale applications (in US$ per KWh) for the Years 2014, 2017 and 2020 (includes corresponding Graph/Chart) II-22 Robust Surge in Solar and Wind Farms Throws the Focus Squarely on Grid Stability II-22 Table 16: Robust Gains in Solar & Wind Power Installed Capacity to Accelerate the Urgency in Ensuring Grid Stability Via Energy Storage Technologies: Global Wind and Solar Installed Capacity (In GW) for the Years 2011, 2017, 2020 and 2022 (includes corresponding Graph/Chart) II-24 Energy Storage Assets Remain Vital Towards Enhancing the Operation of Smart Grids II-24 Table 17: Proliferation of Smart Grids to Help Enhance the Value of Advanced Energy Storage Systems as Important Utility Assets that Help Support Network Stability: Global Investments in Smart Grids (In US$ Billion) for the Years 2013, 2017, and 2020 (includes corresponding Graph/Chart) II-25 Flywheel Systems Emerge as a Reasonable Alternative to Batteries Uniquely Suited to Utility-Scale Applications II-25 Large Capacity Sodium Sulfur Battery Grow in Prominence as a Promising Clean Energy Technology II-27 CAES Systems to Offer Utility Grids Cost-Effective Bulk Storage II-28 LAES Promises Environmentally Neutral Grid Scale Energy Storage without Geographical Constraints II-30 SMES: A Promising Advanced Energy Storage Technology II-31 Table 18: Sizing of the Latent Market Potential for SMES: Global Sales of SMES Systems (In US$ 000) for the Years 2017, 2020 and 2024 by Geographic Region (includes corresponding Graph/Chart) II-33 Hydrogen Storage Offers Seamless Integration of Wind and Solar Energy into the Grid II-34 Continuous Innovations Push a Bevy of Exciting Storage Technologies Closer to Commercialization II-35 Market Outlook II-36 2. PRODUCT OVERVIEW II-37 Advanced Energy Storage: Definition II-37 Types of Renewable Energy Storage Technologies II-37 Overview of Currently Available Energy Storage Technologies II-37 Table 19: Energy Storage Technologies: Key Features Comparison for PHS, CAES, Flywheel, NaS Battery, Li-ion Battery, Flow Battery, Supercapacitor, SMES, Molten Salt, Hydrogen, and SNG Technology II-38 Various Energy Storage Technologies: Key Advantages & Disadvantages II-39 Short-Term Renewable Energy Storage Technologies II-39 Supercapacitor Energy Storage II-39 Flywheel Energy Storage II-40 Superconducting Magnetic Energy Storage II-40 Long-Term Renewable Energy Storage Technologies II-40 Pumped Hydroelectric Energy Storage II-40 Compressed Air Energy Storage II-40 Battery Energy Storage II-41 Characteristics of Select Battery Technology Types II-41 Hydrogen Energy Storage II-41 SWOT Analysis of Different Long-Term Renewable Energy Storage Technologies II-42 Government Intervention Critical to Widespread Adoption II-42 Domestic Targets for Greenhouse Gas Emissions of Select Regions/Countries II-43 Significance of Renewable Energy Storage II-43 Minimizing Energy Costs II-43 Ensuring Reliable Supply of Energy II-44 Increasing Energy Autonomy II-44 Renewable Energy: A Primer II-44 An Introduction II-44 Renewable Energy: A Definition II-44 Benefits of Renewable Energy II-45 Environmental Benefits II-45 Economic Benefits II-45 Energy Security II-45 Sources of Renewable Energy II-45 Solar Energy II-45 Power Tower Systems II-46 Parabolic-Trough Systems II-46 Dish/Engine Systems II-46 Wind Energy II-46 Geothermal Energy II-46 Binary Cycle Power Plants II-46 Flash Steam Power Plants II-47 Dry Steam Power Plants II-47 Hydroelectric Power II-47 Bioenergy II-47 Hydrogen and Fuel Cells II-47 Ocean Energy II-48 Ocean Mechanical Energy II-48 Ocean Thermal Energy II-48 Disadvantages of Renewable Energy II-48 Disadvantages of Solar Energy II-48 Disadvantages of Wind Energy II-49 Disadvantages of Geothermal Energy II-49 Disadvantages of Hydroelectric Energy II-49 Disadvantages of Ocean Energy II-49 Energy Storage Technology Advancements II-49 Rice University Announces Molybdenum Disulfide Breakthrough II-50 Researchers at MIT Upgrade Proposed Liquid Battery System II-51 Alevo Develops Innovative, High-Efficiency Energy Storage System II-51 Nanotechnology: The Future of Energy Storage? II-52 Nanotubular Bulk Material with Ultra-Low Density for Energy Storage Applications II-52 Compressed Air Energy Storage Systems that Eliminate/Reduce Use of Fossil Fuels II-53 Affordable Batteries with High Durability and Advanced Chemical Compositions II-53 Hydrogen Electrolysis: A Potential Laden Energy Storage Solution II-54 Aquion Energy Develops New Battery for Microgrids II-54 3. PRODUCT LAUNCHES/INTRODUCTIONS II-55 Samsung SDI Launches High-Performance Batteries II-55 Wärtsilä Launches Advanced Energy Storage Solutions in India II-55 BYD Launches MINI-ES, B-Box and Containerized ES II-55 Flex Launches Renewable Advanced BESS II-55 Adara Launches Adara Pulse for Residential Sector II-55 Samsung SDI Releases High-capacity and High-power ESS Batteries Range II-55 NEC Unveils DSS™ Distributed ES Platform II-55 AEG Develops Hybrid Energy Storage System II-56 Caterpillar Launches Cat® Microgrid Technology II-56 JLM Launches Energizr 200, Grid Synergistic Residential ESS II-56 UET Announces Commercial Availability of ReFlex™ ESS II-56 4. RECENT INDUSTRY ACTIVITY II-57 Schneider Electric Signs MoU with NGK INSULATORS II-57 Toshiba Collaborates with NRG Energy II-57 Greensmith Inks Partnership Deal with AEP to Install 4MW ESS II-57 Cummins to Acquire Assets of Brammo II-57 NEC Announces Dale as Its First Qualified DSS Partner in the UK II-57 BYD Receives Contract to Supply 170-MW Solar Modules II-57 NEC Receives Contract for Supply of GSS® to EKZ II-57 Southern Company Initiates Battery Storage Research Project II-58 AES Forms a Joint Venture with Siemens AG II-58 CCL Acquires Firefly Solar Generators II-58 CalCom Sets Up New Energy Storage Business Unit II-58 NEC Chile & NEC Energy Bags Contract for Supply of 2 MW ESS II-58 Maxwell Acquires Assets of Nesscap Energy II-58 NEC and Enspire to Build Large-Scale ESS in Germany II-58 NEC and VLC Sign Contract to Build and Operate ES Projects II-59 Ecoult Forms Partnership with Exide II-59 Ecoult Receives Funds from ARENA for Renewable ES Development II-59 Piller USA Changes its Name to Piller Power Systems Inc. II-59 Piller Power Acquires Active Power II-59 Temporal Power Collaborates with Danfoss II-59 NEC Bags a Contract to Supply “Plug-AndPlay” Battery Grid ESS II-59 Saft Obtains Approval for Seanergy® Marine ESS II-59 NEC to Supply 2 MW, 3.9MWh GSS® Grid ESS to SMLD II-60 Powin Corp. Merges with Powin Energy II-60 BYD Collaborates with GoodWe Power II-60 Maxwell Collaborates with CRRC-SRI for Developing Advanced ESS II-60 NEC Energy to Supply 1.2MWh GBS® Battery ESS to Smart Power II-60 Hydrogenics and Phraram Receive Hybrid Project from EGAT II-60 Total to Acquire Saft Group II-60 Convergent and Temporal Ink Agreement to install 5 MW Flywheel ESS II-61 Panasonic and AES to Construct 10MW ES Array in India II-61 NEC Installs GSS® Large-Scale ESS in Japan II-61 Sonnedix Solar Commissions First Grid-Scale ESS Project II-61 Corvus Energy Inks Multi-Year Agreement with LG Chem II-61 Saft Forms New Subsidiary, Saft Japan Kabushiki Kaisha II-61 BHTEPCT Selects Maxwell’s Ultracapacitors for Wind Farm ES Project II-61 5. PLAYERS IN THE ADVANCED ENERGY STORAGE ECOSYSTEM II-62 ABB Ltd. (India) II-62 Active Power, Inc. (USA) II-62 AES Energy Storage, LLC (USA) II-62 Alevo Group S.A. (Switzerland) II-63 Altair Nanotechnologies, Inc. (Canada) II-63 Amber Kinetics, Inc. (USA) II-63 Areva (France) II-64 Ashlawn Energy, LLC (USA) II-64 Axion Power International, Inc. (USA) II-64 Beacon Power, LLC (USA) II-64 BYD Co. Ltd. (China) II-65 Calnetix Technologies, LLC (USA) II-65 ECOULT (Australia) II-65 Electrochaea GmbH (Germany) II-66 Encell Technology, Inc. (USA) II-66 EnSync Energy Systems, Inc. (USA) II-66 Exide Technologies (USA) II-67 General Electric Company (USA) II-67 Gridflex Energy, LLC (USA) II-68 Highview Enterprises Ltd. (UK) II-68 Hitachi, Ltd. (Japan) II-68 Hyper Tech Research, Inc. (USA) II-69 IMS group AS (Norway) II-69 ITM Power Plc (UK) II-69 Kokam co., Ltd (Korea) II-69 Leclanché SA (Switzerland) II-70 LG Chem (Korea) II-70 LightSail Energy (USA) II-70 Maxwell Technologies, Inc. (USA) II-70 McPhy Energy S.A. (France) II-71 NEC Energy Solutions (Japan) II-71 NGK Insulators, Ltd. (Japan) II-71 Proton OnSite (USA) II-72 Redflow Limited (Australia) II-72 Saft Groupe S.A. (France) II-72 Samsung SDI Co., Ltd. (South Korea) II-72 Siemens AG (Germany) II-73 Dresser-Rand Group, Inc. (USA) II-73 Temporal Power (Canada) II-74 Tesla, Inc. (USA) II-74 Tianjin Lishen Battery Co., Ltd. (China) II-74 Toshiba International Corporation (USA) II-74 ViZn Energy Systems, Inc. (USA) II-75 6. GLOBAL MARKET PERSPECTIVE II-76 Table 20: World Recent Past, Current and Future Analysis for Advanced Energy Storage by Geographic Region - US, Western Europe, Asia-Pacific, and Rest of World Markets Independently Analyzed with Installed Capacity in MW for Years 2015 through 2024 (includes corresponding Graph/Chart) II-76 Table 21: World 10-Year Perspective for Advanced Energy Storage by Geographic Region - Percentage Breakdown of Installed Capacity for US, Western Europe, Asia-Pacific, and Rest of World Markets for Years 2015, 2017 and 2024 (includes corresponding Graph/Chart) II-77 Table 22: World Recent Past, Current and Future Analysis for Advanced Energy Storage (AES) Systems Market Analyzed with Revenues in US$ Million for Years 2015 through 2024 (includes corresponding Graph/Chart) II-78 III. MARKET 1. THE UNITED STATES III-1 A.Market Analysis III-1 Outlook III-1 Long-term Outlook for Solar Energy to Drive Demand III-1 Favorable US Policies to Improve Solar Power Generation Capabilities III-1 Manufacturers Gear Up to Promote Utility Scale Energy Storage III-1 Rising Number of Energy Storage Projects offer Significant Growth Opportunities III-2 NYC Utility’s Ambitious Plans for Energy Efficiency to Drive ESS Growth III-2 Table 23: Incentives under ConEd’s Demand Management Program by Storage Technology III-3 Small-Scale Renewable Energy Projects: A Threat to Grid- Scale Energy Storage? III-3 Product Launches III-3 Strategic Corporate Developments III-4 Key Players III-6 B.Market Analytics III-13 Table 24: US Recent Past, Current and Future Analysis for Advanced Energy Storage by Installed Capacity in MW for Years 2015 through 2024 (includes corresponding Graph/Chart) III-13 2. WESTERN EUROPE III-14 A.Market Analysis III-14 Outlook III-14 Advanced Energy Storage Gains Momentum in Western Europe III-14 Utility Scale Wind and Solar Power Storage Gain Momentum III-14 Rising Wind-Hydrogen Energy Storage Projects in Germany III-15 Boom in German Solar Market Offers Prospects for Energy Storage III-15 Product Launch III-16 Strategic Corporate Developments III-16 Key Players III-17 B.Market Analytics III-21 Table 25: Western Europe Recent Past, Current and Future Analysis for Advanced Energy Storage by Installed Capacity in MW for Years 2015 through 2024 (includes corresponding Graph/Chart) III-21 3. ASIA-PACIFIC III-22 A.Market Analysis III-22 Outlook III-22 Asia: A Potential Laden Market III-22 Asian Market Dynamics Promote Innovations III-22 Flourishing Solar Power Market Offers Growth Opportunities III-23 Review of Select Markets in the Region III-23 China III-23 Booming Solar Industry to Drive ESS Market III-24 China to Experience Notable Adoption of Energy Storage Systems III-24 India III-24 Increasing Adoption of Renewable Energy Augurs Well for the Market III-24 Table 26: Indian Market for Advanced Energy Storage Systems (2020F): Percentage Share Breakdown of Energy Stored by End-use Applications (includes corresponding Graph/Chart) III-25 Product Launches III-26 Strategic Corporate Developments III-26 Select Regional Players III-27 B.Market Analytics III-30 Table 27: Asia-Pacific Recent Past, Current and Future Analysis for Advanced Energy Storage by Installed Capacity in MW for years 2015 through 2024 (includes corresponding Graph/Chart) III-30 4. REST OF WORLD III-31 A.Market Analysis III-31 Outlook III-31 A Review of Select Nations III-31 Japan’s Focus on Renewable Energy Bodes Well for the Market III-31 Puerto Rico Introduces Mandatory Energy Storage Requirements III-31 Product Launch III-31 Strategic Corporate Developments III-32 Select Players III-33 B.Market Analytics III-34 Table 28: Rest of World Recent Past, Current and Future Analysis for Advanced Energy Storage by Installed Capacity in MW for Years 2015 through 2024 (includes corresponding Graph/Chart) III-34 IV. COMPETITIVE LANDSCAPE Total Companies Profiled: 99 (including Divisions/Subsidiaries - 106) The United States (59) Canada (6) Japan (5) Europe (26) - France (5) - Germany (6) - The United Kingdom (6) - Italy (1) - Rest of Europe (8) Asia-Pacific (Excluding Japan) (9) Latin America (1)