Global Distributed Energy Storage System Market Overview:
Distributed Energy Storage System (DESS) is characteristically flexible in nature and can be deployed rapidly. It can generate multiple value streams, also have the potential to provide multiple grids for customer ease and usage. Rising consumer awareness and demand for efficient energy consumption paired with the need for smart homes with operational load management is expected to play a main role in the growth of distributed energy storage system industry.
As per latest study released by AMA Research, the Global Distributed Energy Storage System market is expected to see growth rate of 10.3%Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Rising Need for Distributed Energy Integration with the Main Grid and Cloud-Based Monitoring That Coordinates the Energy Generation, Distribution, Storage and Consumption
Market Growth Drivers:
Increasing Consumer Awareness Regarding Energy Consumption, Escalating Demand for Generated Electricity for Uninterrupted Power Supply (UPS) and Rising Installation of Renewable Energy Resources
Challenges:
Need for Cost Reduction and Effective Software and Controls
Restraints:
High-Cost Factor Associated with the DESS
Opportunities:
Favorable Compliance Standards Coupled with Upsurge in Power Consumption
Competitive Landscape:
The DESS market is fragmented with several market players who have involved in several product launch and collaboration. For instance, The Energy Storage Partnership (ESP) comprises the World Bank Group and 29 organizations working together to help develop energy storage solutions tailored to the needs of developing countries.
Some of the key players profiled in the report are ABB (Switzerland), Siemens (Germany), BYD (China), MCV Energy (Egypt), Johnson Controls (United States), Schneider Electric (France), AES Energy Storage (United States), Toshiba Corporation (Japan), Hitachi Global (Japan), GS Yuasa Corporation (Japan), Sharp Global (Japan), LG Chem Ltd. (South Korea) and Nova Greentech, Inc. (United States). Additionally, following companies can also be profiled that are part of our coverage like NGK Insulators, Inc. (Japan), Exide Technologies (United States), Nippon Chemi-Con Corporation (Japan) and Beacon Power (United States). Considering Market by Technology, the sub-segment i.e. Pumped Hydro will boost the Distributed Energy Storage System market.
Latest Market Insights:
In October 2023, SimpliPhi Power, a developer of lithium-ion battery energy storage systems, merged with Freedom Forever, a solar installer, creating a leading clean energy services provider.
In March 2023, Sonnen launched the sonnen eco 10, a new residential battery storage system with increased capacity and shorter charging times. This new product aimed to cater to the growing demand for larger and more powerful DESS solutions.
What Can be Explored with the Distributed Energy Storage System Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Distributed Energy Storage System Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Distributed Energy Storage System
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Distributed Energy Storage System market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Distributed Energy Storage System market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Distributed Energy Storage System Service Providers, Industry Associations, Potential Investors, Distributed Energy Storage System Suppliers, Government and Regulatory Bodies and Marketing firms.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.