The lithium-ion batteries have a long lifespan of 5–10 years, and up to 98% efficiency (i.e., only 2% of electrical charge is lost during use). The lithium-ion batteries have very high energy and power densities, which leads to lower weight with low standby losses, and high life expectancy. Lithium-ion batteries continue to hold a large size of the battery energy storage system market owing to its features such as high energy density, self-discharge capability, low maintenance requirement, less weight, and high life expectancy. Battery energy storage system is well suited for smoothing the variable output of renewables and controlling the rapid ramping up and down of solar as well as wind generation. The grid operators and regulators are aware of the importance of battery energy storage systems and their ability to cater through multiple services. The utility operators are using these systems in their resource planning processes, which reduces the system costs and increases storage capacity.
The major drivers for the growth of the market include the increasing demand for grid-connected solutions, high demand for the lithium-ion technology in the renewable energy industry, and declining prices of lithium-ion batteries. However, the factors such as the installation of battery energy storage systems in remote locations pose a challenge for the players in the market. the Americas dominated the battery energy storage market for smart grid and accounted for around 60% of the total market share. Much of the region’s growth can be attributed to the increasing use of smart grids and the increasing need for energy storage for distributed systems. The governmental support across different countries in the region and the growing investments in the development and deployment of integrated smart grid systems is expected to drive the demand for smart energy in the region in the coming years.

The global Battery Energy Storage market was valued at 1520 million US$ in 2018 and will reach 14900 million US$ by the end of 2025, growing at a CAGR of 33.0% during 2019-2025.
This report focuses on Battery Energy Storage volume and value at global level, regional level and company level. From a global perspective, this report represents overall Battery Energy Storage market size by analyzing historical data and future prospect.
Regionally, this report categorizes the production, apparent consumption, export and import of Battery Energy Storage in North America, Europe, China, Japan, Southeast Asia and India.
For each manufacturer covered, this report analyzes their Battery Energy Storage manufacturing sites, capacity, production, ex-factory price, revenue and market share in global market.

The following manufacturers are covered:
Siemens
ABB
Samsung SDI
Bosch
BYD
...

Segment by Regions
North America
Europe
China
Japan
Southeast Asia
India

Segment by Type
Li-Ion Batteries
Lead-Acid Batteries
Sodium Sulfur Batteries

Segment by Application
Residential
Non-Residential
Utilities
Others