Dublin, Dec. 13, 2024 (GLOBE NEWSWIRE) -- The "Growth Opportunities in the Battery Energy Storage Systems Industry" report has been added to ResearchAndMarkets.com's offering.
Battery energy storage systems (BESS) are crucial in enabling the energy transition. Their deployment is essential to providing electricity systems' flexibility to support higher electrification, relying primarily on variable renewable energy (RE) sources. At the behind-the-meter (BTM) level, batteries are also increasingly recognized as a critical technology for end users to maximize on-site RE generation, manage energy demand more efficiently, control costs, and reduce carbon footprint.
BESSs have entered a period of accelerated growth. Global annual deployments are set to expand at a 30.5% CAGR from 2023 to 2035, reaching 240.63 GW with 1.69 TW of cumulative capacity. Capacity deployments will be led by grid-scale batteries, accounting for between 70-80% of new capacity. While short-mid opportunities remain concentrated in China, North America, and Europe, by 2035, India and South Asia; East Asia; Australia, New Zealand, and the Pacific; and Latin America will have become attractive destinations for BESS investments.
The solar and battery low-price scenario, the push for domestic content, electric mobility, and higher transparency on ESGs are injecting extra dynamism into the market and new opportunities for differentiation. As the industry matures and batteries prove to be the right fit for a wide range of applications, the focus is on increasing efficiency, profitability, and sustainability. Numerous AI and analytics-based solutions are transforming the market, bringing gains in battery performance, manufacturing efficiency, trading, energy optimization, and circularity.
This analysis provides a regional-level forecast and examination of how BESS capacity and investments will evolve by 2035 split by end-user segment. It discusses the main drivers and trends in supply, technology, business models, and use cases. In addition, it highlights growth opportunities for industry participants.
Key Trends Shaping the BESS Industry
- AI Revolutionizing the BESS Value Chain
- Carrots and Sticks to Foster BTM Self-consumption
- VPPs to Unlock Extra Value from BTM Storage
- Solar-plus-storage, the Perfect Match for Both Sides of the Meter
- Alternatives to Lithium
- Batteries Supporting Transport Electrification
- Higher Transparency and ESG Accountability for Batteries
- Predictive BESS Analytics
Key Topics Covered:
Ecosystem
- Scope of Analysis
- Regional Segmentation
- End-user Segmentation
- Applications by End User
- Application Definitions for
- Application Definitions for Residential and C&I BESSs
Strategic Imperatives
- The Impact of the Top 3 Strategic Imperatives on the BESS Industry
- Key Findings
Growth Opportunity Analysis
- Growth Metrics
- Growth Drivers
- Growth Restraints
- Key BESS Suppliers
- Forecast Considerations
- Cumulative Storage Capacity Growth
- Cumulative Power Capacity Growth
- Annual Power Capacity Forecast
- Annual Storage Capacity Forecast
- Capex Capacity Forecast
- Capacity Forecast Analysis
- Pricing Trends and Forecast Analysis
Regional Analysis
- North America
- Europe
- ANZ and Pacific
- China
- East Asia
- India and South Asia
- ASEAN
- Latin America
- Middle East and North Africa
- Sub-Saharan Africa
- Russia and CIS
Growth Opportunity Universe
- Growth Opportunity 1: Solar-plus-storage Retrofits
- Growth Opportunity 2: BESS to Fuel Electric Transportation
- Growth Opportunity 3: Energy Storage-as-a-Service
- Growth Opportunity 4: AI and Advanced Analytics-based Platforms for BESS Optimization
- Growth Opportunity 5: Grid-scale BESS to Shape Renewable Energy Power Purchase Agreements
Appendix & Next Steps
- Benefits and Impacts of Growth Opportunities
- Action Items & Next Steps
For more information about this report visit https://www.researchandmarkets.com/r/90zke2
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