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Distributed Energy Storage System Market Segmentation by Product Type (Single-phase Type, Three-phase Type, and Double-phase Fire Line Type); and by Application (Transportation, Grid Storage, Renewable Energy Storage, and Others) – Global Demand Analysis & Opportunity Outlook 2031

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IN THE NEWS

  • December 21, 2021: GE Digital to acquire Opus One Solutions Energy Corporation, a global software company that helps electric utilities optimize energy planning, operations, and market management.

  • April 20, 2021: Hitachi ABB Power Grids, a subsidiary of Hitachi Ltd., to deliver power solutions for Amprion, the largest transmission operator in Germany, as Germany is undergoing renewable energy transition.

Global Distributed Energy Storage System Market Highlights over 2022 – 2031

The global distributed energy storage system market is estimated to grow at a CAGR of ~9% over the forecast period, i.e., 2022 – 2031. Distributed energy storage system is an equipment with DC-charged batteries and a bi-directional inverter, which can store energy for later use. The distributed energy storage (DES) system is suitable for shipping and withstanding extreme environments, which is estimated to boost its demand over the forecast period. The growth of the market can further be attributed to the integration of advanced technologies with energy storage, along with the rising global demand for electricity. According to the data by the International Energy Agency (IEA), the global electricity demand is estimated to increase by over 1,000 TWh in 2021. Moreover, increasing implementation of battery energy storage across the energy distribution infrastructure, is forecasted to assist the market growth.

Distributed Energy Storage System Market

In addition to this, the growing need for transportation of stored energy, backed by the growing import and export of various forms of energy, is anticipated to drive the market growth. A report by the IEA stated that North America imported 76,293 GWh electricity in 2019, while Europe imported 459,952 GWh electricity and Asia Pacific region imported 77,868 GWh electricity in the same year.

Total Electricity Imports (in GWh), Segmented by Selected Regions, 2019

The market is segmented by application into transportation, grid storage, renewable energy storage, and others, out of which, the transportation segment is anticipated to gain highest revenue share in the global distributed energy storage system market over the forecast period on account of increasing import and export of energy across the globe. Moreover, the growing energy consumption is another major factor expected to boost the segment growth. On the other hand, the grid storage segment is estimated to hold a notable share during the forecast period, owing to the constantly rising demand for continuous, uninterrupted electricity supply, globally. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Major Macro-Economic Indicators Impacting the Market Growth

In 2019, the world’s total energy supply was 606EJ, wherein the highest share in terms of source was captured by oil, accounting for 30.9%, followed by coal (26.8%), natural gas (23.2%), biofuels and waste (9.4%), nuclear (5.0%), hydro (2.5%), and other (2.2%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 1% due to the outbreak of Coronavirus resulting in government imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.

Global Distributed Energy Storage System Market Regional Synopsis

On the basis of geographical analysis, the global distributed energy storage system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing demand for energy in the region, backed by the economic development in the region.

The market in the Europe region is anticipated to gain the largest market share throughout the forecast period owing to the very high electricity imports in the region. Moreover, the growing production and consumption of energy in the region is estimated to boost the market growth. As per the IEA data, in Europe region, total electricity production reached 4,112,925 GWh in 2019.

Distributed Energy Storage System Market Share

The global distributed energy storage system market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global distributed energy storage system market includes the following segments:

By Product Type

  • Single-phase Type
  • Three-phase Type
  • Double-phase Fire Line Type

By Application

  • Transportation
  • Grid Storage
  • Renewable Energy Storage
  • Others

Growth Drivers

  • Growing Need for Energy Distribution and Transportation
  • Increasing Import and Export of Electricity
  • Rising Adoption of Smart Grids Globally

Challenges

  • High Capital Investment in DES Systems
  • Thermal Runaway Issue of Batteries

Top Featured Companies Dominating the Market

  • Johnson Controls International
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • ABB Ltd.
  • General Electric
  • LG Energy Solutions
  • Siemens AG
  • Schneider Electric SE
  • MCV Energy
  • Emerson Electric Co.
  • Advanced Control Systems LLC
  • Hitachi, Ltd.

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