The advanced energy storage systems (aess) market is forecasted to grow by USD 9830.3 mn during 2023-2028, accelerating at a CAGR of 10.98% during the forecast period. The report on the advanced energy storage systems (aess) market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing adoption of renewable energy sources, increasing demand for stable and reliable power supply, and inclination toward energy independence.
Technavio's advanced energy storage systems (aess) market is segmented as below:
Market Scope
Base Year
2024
End Year
2028
Series Year
2024-2028
Growth Momentum
Accelerate
YOY 2024
9.01%
CAGR
10.98%
Incremental Value
$9830.3 mn
By Application
Grid storage
Transportation
By End-user
Non-residential
Residential
By Geographical Landscape
APAC
Europe
North America
South America
Middle East and Africa
This study identifies the increasing dominance of lithium-ion batteries as one of the prime reasons driving the advanced energy storage systems (aess) market growth during the next few years. Also, integration of multiple storage technologies and increasing demand for localized energy storage solutions will lead to sizable demand in the market.
The report on the advanced energy storage systems (aess) market covers the following areas:
Advanced energy storage systems (aess) market sizing
Advanced energy storage systems (aess) market forecast
Advanced energy storage systems (aess) market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading advanced energy storage systems (aess) market vendors that include ABB Ltd., Aquion Energy, BYD Co. Ltd., Dow Inc., EOS Energy Enterprises Inc., General Electric Co., GS Yuasa International Ltd., Hitachi Ltd., Leclanche SA, LG Chem Ltd., NEC Corp., Panasonic Holdings Corp., S and C Electric Co., Samsung SDI Co. Ltd., Siemens AG, Tesla Inc., Toshiba Corp., TotalEnergies SE, Trane Technologies Plc, and Wartsila Corp.. Also, the advanced energy storage systems (aess) market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.
Table of Contents
1 Executive Summary
1.1 Market overview
Executive Summary - Chart on Market Overview
Executive Summary - Data Table on Market Overview
Executive Summary - Chart on Global Market Characteristics
Executive Summary - Chart on Market By Geographical Landscape
Executive Summary - Chart on Market Segmentation by Application
Executive Summary - Chart on Market Segmentation by End-user
Executive Summary - Chart on Incremental Growth
Executive Summary - Data Table on Incremental Growth
Executive Summary - Chart on Company Market Positioning
2 Market Landscape
2.1 Market ecosystem
Parent Market
Data Table on - Parent Market
2.2 Market characteristics
Market characteristics analysis
2.3 Value chain analysis
Value Chain Analysis
3 Market Sizing
3.1 Market definition
Offerings of companies included in the market definition
3.2 Market segment analysis
Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Chart on Global - Market size and forecast 2023-2028 ($ million)
Data Table on Global - Market size and forecast 2023-2028 ($ million)
Chart on Global Market: Year-over-year growth 2023-2028 (%)
Data Table on Global Market: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
4.1 Global Advanced Energy Storage Systems (AESS) Market 2018 - 2022
Historic Market Size - Data Table on Global Advanced Energy Storage Systems (AESS) Market 2018 - 2022 ($ million)