Distributed Energy Storage System Market Analysis, Development, and Forecast by 2031

MARKET OVERVIEW

Distributed energy storage system enables smooth integration of renewable energy sources to the main grid by reducing their variability. The distributed energy storage system helps in storing excess power generated by renewable sources in order to be used during peak demand. The growth of this market is mainly driven by increasing demand for continuous electricity, increasing investment on renewable energy projects by both developed and developing countries and rising demand for grid storage technology, especially micro-grid. Rapid industrialization and growth in purchasing power increases the demand for power, which enhances the adoption of distributed energy storage system including renewable energy storage which helps drive the market outlook over the coming years.

MARKET SCOPE

The "Global Distributed Energy Storage System Market Analysis to 2031"" is a specialized and in-depth study of the energy storage with a special focus on the global market trend analysis. The report aims to provide an overview of the distributed energy storage system market with detailed market segmentation by type, technology, application and geography. The report provides key statistics on the market status of the leading distributed energy storage system market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

• On the basis of type the market is segmented into single-phase type, three-phase type, and double-phase fire line type
• On the basis of technology the market is segmented into electro chemical technology, mechanical technology, thermal storage technology
• On the basis application, the market is segmented as transportation, grid storage, renewable energy storage and others

MARKET DYNAMICS

Drivers   

• Supportive government policies for mitigating the carbon emissions
• The associated advantages of renewable technology coupled with increased R&D initiatives

Restraints

• Challenging economic conditions for converting traditional centralized business model to decentralized business model incorporates huge investment

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The rise in demand for energy owing to increase in population and rapid urbanization in developing economies such as China, Indonesia, Malaysia, and India is anticipated to boost the market growth in coming years. The distributed energy storage system market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five region, evaluating political, economic, social and technological factors affecting the distributed energy storage system market in these regions.

IMPACT OF COVID-19 ON DISTRIBUTED ENERGY STORAGE SYSTEM MARKET

The outbreak of the COVID-19 has severely impacted the energy and power industries, which resulted a decline in market growth in the year 2021. The outbreak of the pandemic led to demand-supply gap, shutdown of several manufacturing industries across the globe, which in turn, caused disruptions in raw material procurement and further led to price volatility. The withdrawal of upcoming investments and hold on for ongoing projects in renewable energy has directly influenced the market growth. However, the global situation is getting recoverd at a slow & steady pace which is anticipated to increase in coming years. Furthermore, the key players engaged in the market are also focusing on investment in distributed energy storage system which is further strengthening the market growth during the pandemic recovery period. The increase in energy demand owing to rise in population, supportive government initiatives encourageing deployment of renewable technologies, and growing awareness among consumers leds adoption of renewable energy across the globe are some of the key factors anticipated to boost the demand for the distributed energy storage system market in the projected period. 

MARKET PLAYERS

The report covers key developments in the distributed energy storage system market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as advancement in products, reallocation of resources and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players in the distributed energy storage system market are anticipated to provide lucrative growth opportunities in the future with the rising demand for distributed energy storage system in the global market. 
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the distributed energy storage system market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

• ABB
• GENERAL ELECTRIC
• LG Energy Solution
• Siemens
• Schneider Electric
• BYD Motors Inc.
• Emerson Electric Co.
• Johnson Controls
• NEC Corporation
• Opus One Solutions

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Distributed Energy Storage System Report Scope