Energy Industry News
Home | Energy News | Submit Press Release | About Us

Free Utility & Energy Magazines
Press release distribution service

Energy Media
Clean Energy Report
Colorado Energy News
Energy: MIT Tecnology Review
Energy Business Review
Energy Cities
Fuel Fix
Financial Times
Interfax Energy
Green Energy Times
News York Times
NBC News
Oil & Gas Investor
Oil Price
Science Daily
Renewable Energy World
Renewable Energy Transportation
The Daily Energy Report
The Energy Daily

Energy Industry News Releases

Battery Energy Storage System Market worth $15.1 billion by 2027


(EnergyIndustry.Net, March 25, 2022 ) According to the new research report "Battery Energy Storage System Market with COVID-19 Impact by Storage System, Element, Battery Type (Lithium-Ion, Flow Batteries), Connection Type (On-Grid and Off-Grid), Ownership, Energy Capacity, Application and Geography - Global Forecast to 2027" published by MarketsandMarkets, the global battery energy storage system market size is expected to grow from USD 4.4 billion in 2022 to USD 15.1 billion by 2027, at a CAGR of 27.9%. The growth of this market is driven mainly by the increasing demand for grid energy storage systems owing to ongoing grid modernization, growing penetration of lithium-ion batteries in renewable energy sector, and rising trend of adopting low-carbon and less fossil fuel-based economy and ongoing renewable energy revolution.

Browse 208 market data Tables and 79 Figures spread through 289 Pages and in-depth TOC on "Battery Energy Storage System Market with COVID-19 Impact - Global Forecast to 2027"

Download PDF Brochure @

Lithium-ion batteries to hold the largest share of the battery energy storage system market in 2021

The adoption of lithium-ion batteries is increasing at a substantial rate attributed to the advantages of the battery such as high energy and power density, which leads to low standby losses and a high life expectancy of about 5–15 years with 98% efficiency. Also, lithium-ion-sulfur battery energy storage systems support frequency regulation, demand charge reduction, grid-buffering, and renewable integration, which are suitable for on-grid connections.

On-grid connection type segment is dominating the battery energy storage system market in 2021

The on-grid connections exhibit lower upfront costs than the off-grid system, as the surplus energy is sent to the grid, which can be used later on a metered basis. The reduction in the energy bills for the customers relying on the utility grid for electricity is expected to drive the growth of the segment. The demand for grid modernization from renewable energy suppliers and new regulatory policies for the energy sector are also driving the growth of the on-grid battery energy storage system market for utilities.

Utility application to grow at highest CAGR from 2022 to 2027

The utility application dominates the battery energy storage system market in 2021 and is estimated to hold the largest CAGR during the forecast period. The need to fulfill the requirement of peak electricity demands is the major factor contributing to the growth of the market for utility. The utility BESS provides power quality, frequency, and voltage control services in case of sudden fluctuation in the energy supply. The battery energy storage systems enable grid operators to save electricity when there is a surplus of renewable energy. The increasing demand for a reliable and efficient supply of electricity in most regions and the growing need for renewable energy are responsible for the high demand for battery energy storage systems in the utility sector.

The battery energy storage system market in APAC is expected to grow at the highest CAGR from 2022 to 2027

APAC is expected to hold the largest growth rate of the global battery energy storage system market during the forecast period. APAC is a hub for the battery energy storage system industry. APAC is expected to witness plans for electrification in remote areas, which are mostly off-grid in several countries. The use of residential energy storage technology will enable to increase access to electricity for these remote and island communities in the region. Energy storage investments are expected to increase substantially within the APAC region as the governments in growing economies are making new policies to improve the reliability and quality of the power distribution facilities to the residential customers. The governments of various countries in this region are focusing on minimizing the adverse effects of the energy sector on the environment. These factors lead to the growth in the deployment of battery energy storage systems in residential and public utility applications.

Key Market Players

Major companies operating in this battery energy storage system market include BYD Company Limited (China), SAMSUNG SDI Co., Ltd. (South Korea), LG Energy Solutions Co., Ltd. (South Korea), and Panasonic Corporation (Japan).

Ask for Sample Report @

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


Mr. Aashish Mehra


Source: EmailWire.Com

Renewable Energy News

Press release service Free Utility & Energy Magazines
Press release distribution service
:: Home: :: Submit Press Release :: Subscribe to News :: Contact Us :: Help

For unlimited press release distribution for $59 per month, call (281) 645-4086 or start posting your press releases online at

Copyright 2008 GroupWeb Media LLC
GroupWeb Media Network

Aviation-NewsWire | ArtNewsWire | Auction NewsWire | CRM NewsWire | ePhotoNewsWire | Energy Industry | EstateNewsWire | | Food Beverage News | Glamour NewsWire | Health NewsWire | Hosting NewsWire | i-Auto NewsWire | i-Business News | i-Homeland Security.Com | iMac-NewsWire.Com | i-Press-Release-Service | | iT-NewsWire.Com
| i-TravelNewsWire.Com | MoneyNewsWire.Net | Movie-Stars-News.Com | MSNewsWire.Net | PharmaNewsWire.Com | Publishing-NewsWire.Com | RSSNewsWire.Net | Telecom-NewsWire.Net | Transportation-News.Com | USGovernment-News.Com | WebPosters.Net | Wireless-NewsWire.Com | VoIPNewsWire.Net | XSportsWorld.Net
EnergyIndustry.Net is a Energy news service of GroupWeb Media LLC