Siemens (Germany) and NETGEAR (US) are the Key Players in the Power Line Communication Market

MarketsandMarkets forecasts the Power Line Communication market to grow from USD 5.5 billion in 2017 to USD 9.5 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 9.5% during the forecast period. The major factors that are expected to be driving the PLC market are cost-effective installation, enabling wide coverage by using the existing electricity distribution network, growing deployment of smart grids and high penetration of broadband power line communication devices in indoor networking applications.

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Siemens (Germany) and NETGEAR (US) are two of the key players in the power line communication market. Siemens is a leading player in the power line communication market for the substation communication application, while NETGEAR is a dominant player in the power line communication market for the indoor networking application. Siemens extensive product portfolio along with its strong brand image, customer base, and wide geographic reach has helped it to attain a leading position in the power line communication market. One of the major factors for dominant position of NETGEAR is its strong power line communication product portfolio, which it is further trying to enhance by launching new products. The company’s product portfolio consists of various powerline adapters and bridges with the help of which the users can extend the wired and Wi-Fi Internet connections to any AC outlet using the existing electrical wiring. Some of the other companies operating in the power line communication market include ABB (Switzerland), AMETEK (US), Schneider Electric (France),  General Electric (US), TP-Link Technologies (China), D-Link (Taiwan), Landis+Gyr (Switzerland), Nyx Hemera Technologies (Canada), Belkin International (US), Billion Electric (Taiwan), devolo (Germany), Corinex Communications (Canada), TRENDnet (US), Zyxel Communications (Taiwan), Extollo Communications (US), and NetComm Wireless (Australia).

The major players in the power line communication market have primarily adopted the strategy of product launches to strengthen their product portfolio and expand the reach of their offerings to new clients. For instance, in 2016, NETGEAR (US) introduced the PowerLINE WiFi 1000 adapter kit (PLW1000). Moreover, in 2015, it launched the Powerline 1200 Adapter Kit (PL1200) and Powerline 1200+ extra outlet adapter kit (PLP1200). In 2016, TP-Link Technologies (China) also launched the TL-WPA9610, an AV2000 gigabit powerline AC Wi-Fi kit.

The key players in the power line communication market have adopted various expansion and partnership strategies between 2015 and 2017. For instance, in 2017, ABB (Switzerland) inaugurated its Canadian headquarters and customer innovation center. This facility, located in Montreal, has research and development, manufacturing, assembly, and testing units for its energy value chain. Moreover, in 2017, General Electric (US) inaugurated its new grid automation manufacturing facility in Stafford, UK.

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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.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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.

Contact: Mr. Shelly Singh MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441

Growing Deployment of Smart Grids Driving the Growth of Power Line Communication Market

The power line communication market is valued at USD 5.5 billion in 2017 and is expected to reach USD 9.5 billion by 2023, at a CAGR of 9.5% during the forecast period. The need for cost effective installations, growing deployment of smart grids, and high penetration of broadband power line communication devices in the indoor networking application is likely to propel the growth of the market.

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Energy management and smart grid application to hold the larger share of the power line communication market by 2023

Communication technologies play an important role in smart grids, as these technologies are required for obtaining data for the efficient control and distribution of energy. Substation communication and advanced metering were the main application areas that held a significant share of the power line communication market in 2016. Micro inverter monitoring, vehicle communication and electric vehicle charging, and lighting control are the other emerging applications that are likely to spur the growth of the market during the forecast period.

Drivers
• Cost-Effective Installation
• Enabling Wide Coverage By Using the Existing Electricity Distribution Network
• Growing Deployment of Smart Grids
• High Penetration of Broadband Power Line Communication Devices in Indoor Networking Applications

APAC to be the fastest growing market for power line communication during the forecast period

Some of the key countries in the power line communication market in APAC include China, Japan, India, and South Korea. High economic growth witnessed by major developing economies in the region can be attributed to the rapid growth of the power line communication market in the region. Government efforts to expand the grid and build new power plants, wind farms, and solar farms in China and India are also likely to drive the demand during the forecast period. Heavy investments towards smart city infrastructure in China where this technology is used for smart grids and smart buildings for communication will be a likely factor to contribute to the growth of the market 

Some of the players operating in the power line communication market include Siemens (Germany), NETGEAR (US), ABB (Switzerland), AMETEK (US), Schneider Electric (France),  General Electric (US), Hubbell Power Systems (US), TP-Link Technologies (China), D-Link (Taiwan), Landis+Gyr (Switzerland), Belkin International (US), Corinex Communications (Canada), devolo (Germany), and Zyxel Communications (Taiwan).

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.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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.

Contact:
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MarketsandMarkets™ INC.
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Suite 430
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USA : 1-888-600-6441

Battery Energy Storage System Market, by Element, Battery Type, Ownership, Connection Type, Application & Geography - Forecast to 2023

According to the new market research report "Battery Energy Storage System Market by Element (Battery, Hardware), Battery Type (Lithium-Ion, Advanced Lead Acid, Flow Batteries, Sodium Sulfur), Connection Type (On-Grid And Off-Grid), Ownership, Application, and Geography - Global Forecast to 2023", the battery energy storage system market is expected to grow from USD 1.98  Billion in 2018 to reach USD 8.54 Billion by 2023, at a CAGR of 33.9% between 2018 and 2023. Factors that are driving 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.

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Scope of the Report

This research report categorizes the battery energy storage system market on the basis of element, battery type, ownership, connection type, application, and geography.

Battery Energy Storage System Market, by Element:

• Battery
• Hardware
• Other Elements

Battery Energy Storage System Market, by Battery Type:

• Lithium-Ion Batteries
• Sodium–Sulfur Batteries
• Flow Batteries
• Advanced Lead-Acid Batteries
• Others

Battery Energy Storage System Market, by Ownership:

• Utility Owned
• Customer Owned
• Third-Party Owned

Battery Energy Storage Systems Market, by Connection Type:

• On-Grid Connection
• Off-Grid Connection

Battery Energy Storage System Market, by Application:

• Residential
• Non-Residential
• Utilities
• Other Applications

Battery Energy Storage System Market, by Geography:

• North America
• Europe
• Asia Pacific (APAC)
• Rest of the World (RoW)

Battery energy storage system market in APAC to grow at the highest CAGR between 2018 and 2023

APAC comprises China, Japan, India, South Korea, and the Rest of APAC (RoAPAC). APAC is gradually becoming a hub for the battery energy storage system industry. The demand for battery energy storage systems from China, India, and Japan is gradually increasing. The electricity demand in China is on rise due to the rapid population growth in the country. To fulfill the increasing demand from this population, the state-owned State Grid Corporation of China, the world’s largest utility, has deployed battery energy storage systems to provide ancillary services throughout its grid.

The major players operating in the battery energy storage system market are ABB (Switzerland), LG Chem (South Korea), NEC (Japan), Panasonic (Japan), Samsung SDI (South Korea), AEG Power Solutions (Netherlands), General Electric (US), Hitachi (Japan), Siemens (Germany), and Tesla (US).

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 5000 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.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" 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.

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MarketsandMarkets™ INC.
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Energy management and smart grid application to hold the larger share of the power line communication market by 2023

According to the new market research report "Power Line Communication Market by Offering (Hardware, Software, and Services), Frequency (Narrowband, and Broadband), Application (Energy Management and Smart Grid, and Indoor Networking), Vertical, and Geography – Global Forecast to 2023", the power line communication market is expected to grow from USD 5.5 billion in 2017 to USD 11.1 billion by 2025, at a CAGR of 9.3% between 2017 and 2023.  High demand for power line communication technology-based products from the industrial and residential verticals primarily for substation communication, advanced metering, and indoor networking applications are most likely to be the key factors attributed to the growth of the market.

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Communication technologies play an important role in smart grids, as these technologies are required for obtaining data for the efficient control and distribution of energy. Substation communication and advanced metering were the main application areas that held a significant share of the power line communication marketin 2016. Micro inverter monitoring, vehicle communication and electric vehicle charging, and lighting control are the other emerging applications that are likely to spur the growth of the market during the forecast period.

APAC to be the fastest growing market for power line communication during the forecast period

Some of the key countries in the power line communication market in APAC include China, Japan, India, and South Korea. High economic growth witnessed by major developing economies in the region can be attributed to the rapid growth of the power line communication market in the region. Government efforts to expand the grid and build new power plants, wind farms, and solar farms in China and India are also likely to drive the demand during the forecast period. Heavy investments towards smart city infrastructure in China where this technology is used for smart grids and smart buildings for communication will be a likely factor to contribute to the growth of the market 

Some of the players operating in the power line communication market include Siemens (Germany), NETGEAR (US), ABB (Switzerland), AMETEK (US), Schneider Electric (France),  General Electric (US), Hubbell Power Systems (US), TP-Link Technologies (China), D-Link (Taiwan), Landis+Gyr (Switzerland), Belkin International (US), Corinex Communications (Canada), devolo (Germany), and Zyxel Communications (Taiwan).

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.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC. 
630 Dundee Road 
Suite 430 
Northbrook, IL 60062 
USA : 1-888-600-6441 

The power line communication market was valued at USD 4.97 Billion in 2016 and is estimated to reach USD 9.45 Billion by 2023, at a CAGR of 9.53% during the forecast period. The base year considered for this study is 2016, and the forecast period considered is between 2017 and 2023.

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The objectives of the study are as follows:

• Define, describe, and forecast the overall power line communication market in terms of value
• Define, describe, and forecast the power line communication market segmented on the basis of offering, frequency, application, vertical, and geography
• Forecast the size of the power line communication market, in terms of value, for various segments with respect to 4 main regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
• Describe the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the power line communication market and its submarkets
• Analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall power line communication market
• Analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the power line communication market
• Identify the key players operating in the power line communication market and comprehensively analyze their market ranking and core competencies
• Analyze strategic developments such as product launches, partnerships, expansions, and contracts in the power line communication market

Narrowband segment held largest share of the market in 2016

Based on frequency, the narrowband segment leads the power line communication market. The dominant position of this segment can be attributed to the high demand for narrowband power line communication technology-based products from the energy management and smart grid application.

Energy management and smart grid application to dominate the market during forecast period

Based on application, the energy management and smart grid application is currently leading and is expected to dominate the market during the forecast period. Substation communication and advanced metering were the main application areas that held a significant share of the power line communication market for the energy management and smart grid application in 2016.

Market for commercial vertical likely to grow at highest CAGR during forecast period

Based on vertical, the commercial vertical is expected to witness the highest growth in the power line communication market during the forecast period. The increasing penetration of power line communication technology-based products for building automation, especially for the lighting control application, is one of the major factors fueling the growth of the said market.

Europe held largest share of the market in 2016

Europe held the largest share of the power line communication market in 2016. Italy accounted for the largest share of the power line communication market in Europe, followed by France, the UK, and Germany. In 2016, the advanced metering application accounted for a significant portion of the power line communication market in Europe. This can be attributed to the initiatives taken by the government and utilities for the deployment of smart meters. Italy was the pioneer in Europe in terms of large-scale smart meters deployment. Moreover, the UK government has set a target of deploying nearly 53 million smart meters across 30 million homes and small businesses by 2020.

Some of the players operating in the power line communication market include Siemens (Germany), NETGEAR (US), ABB (Switzerland), AMETEK (US), Schneider Electric (France),  General Electric (US), Hubbell Power Systems (US), TP-Link Technologies (China), D-Link (Taiwan), Landis+Gyr (Switzerland), Belkin International (US), Corinex Communications (Canada), devolo (Germany), and Zyxel Communications (Taiwan).

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 5000 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.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" 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.

Contact:
Mr. Rohan
MarketsandMarkets™ INC.
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Suite 430
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USA : 1-888-600-6441
sales@marketsandmarkets.com

Brief Insight | Power Line Communication Market | 9.45 Billion USD by 2023

The power line communication market was valued at USD 4.97 Billion in 2016 and is estimated to reach USD 9.45 Billion by 2023, at a CAGR of 9.53% during the forecast period. The base year considered for this study is 2016, and the forecast period considered is between 2017 and 2023.

The objectives of the study are as follows:

• Define, describe, and forecast the overall power line communication market in terms of value
• Define, describe, and forecast the power line communication market segmented on the basis of offering, frequency, application, vertical, and geography
• Forecast the size of the power line communication market, in terms of value, for various segments with respect to 4 main regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
• Describe the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the power line communication market and its submarkets
• Analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall power line communication market
• Analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the power line communication market
• Identify the key players operating in the power line communication market and comprehensively analyze their market ranking and core competencies
• Analyze strategic developments such as product launches, partnerships, expansions, and contracts in the power line communication market

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The power line communication ecosystem comprises power line communication technology-based products and its component vendors. Siemens (Germany), NETGEAR (US), ABB (Switzerland), General Electric (US), Hubbell Power Systems (US), TP-Link Technologies (China), D-Link (Taiwan), Landis+Gyr (Switzerland), and Corinex Communications (Canada) are some of the vendors that sell these products and solutions to end users according to their unique requirements. The end users include players from the industrial, commercial, and residential verticals.

Report Scope:
In this report, the power line communication market has been segmented into the following categories:

Power Line Communication Market, by Offering:

• Hardware
• Software
• Services

Power Line Communication Market, by Frequency:

• Narrowband (3 kHz to 500 kHz)
• Broadband (Greater than 500 kHz)

Power Line Communication Market, by Application:

• Energy Management and Smart Grid
• Indoor Networking

Power Line Communication Market, by Vertical:

• Residential
• Commercial
• Industrial

Power Line Communication Market, by Geography:

• North America (US, Canada, and Mexico)
• Europe (Italy, Spain, UK, Germany, France, and Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, and Rest of APAC)
• Rest of the World (South America, and the Middle East and Africa)

Narrowband segment held largest share of the market in 2016

Based on frequency, the narrowband segment leads the power line communication market. The dominant position of this segment can be attributed to the high demand for narrowband power line communication technology-based products from the energy management and smart grid application.

Energy management and smart grid application to dominate the market during forecast period

Based on application, the energy management and smart grid application is currently leading and is expected to dominate the market during the forecast period. Substation communication and advanced metering were the main application areas that held a significant share of the power line communication market for the energy management and smart grid application in 2016.

Market for commercial vertical likely to grow at highest CAGR during forecast period

Based on vertical, the commercial vertical is expected to witness the highest growth in the power line communication market during the forecast period. The increasing penetration of power line communication technology-based products for building automation, especially for the lighting control application, is one of the major factors fueling the growth of the said market.

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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 5000 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.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" 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.

Contact:
Mr. Rohan
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

Power Line Communication Market projected to be worth 9.45 Billion USD by 2023

The power line communication market is valued at USD 5.47 Billion in 2017 and is expected to reach USD 9.45 Billion by 2023, at a CAGR of 9.53% during the forecast period. The growing deployment of smart grids coupled with the fact that power line communication is one of the major communication technologies that is being used for smart grid communications is one of the major factors driving the growth of the market. Moreover, the increasing demand for broadband power line communication devices in the indoor networking application has led to the growth of the market.

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The report segments the power line communication market on the basis of offering, frequency, application, vertical, and geography. The said market is expected to be led by the narrowband power line communication segment during the forecast period. Substation communication and advanced metering are the main application areas of narrowband power line communication technology-based products. Substation communication and advanced metering applications hold a significant share of the overall power line communication market. This factor has led to the dominant position of the narrowband segment in the market.

The industrial vertical accounted for the largest share of the overall power line communication market. The high adoption of power line communication technology-based products, especially for the substation communication application has led to the dominance of this vertical in the said market.

The market for the energy management and smart grid application is expected to witness a significant growth during the forecast period. Substation communication and advanced metering were the main application areas that held a significant share of the power line communication market for the energy management and smart grid application in 2016. Micro inverter monitoring, vehicle communication and electric vehicle charging, and lighting control are the other emerging applications.

Europe held largest share of the market in 2016

Europe held the largest share of the power line communication market in 2016. Italy accounted for the largest share of the power line communication market in Europe, followed by France, the UK, and Germany. In 2016, the advanced metering application accounted for a significant portion of the power line communication market in Europe. This can be attributed to the initiatives taken by the government and utilities for the deployment of smart meters. Italy was the pioneer in Europe in terms of large-scale smart meters deployment. Moreover, the UK government has set a target of deploying nearly 53 million smart meters across 30 million homes and small businesses by 2020.

Some of the players operating in the power line communication market include Siemens (Germany), NETGEAR (US), ABB (Switzerland), AMETEK (US), Schneider Electric (France),  General Electric (US), Hubbell Power Systems (US), TP-Link Technologies (China), D-Link (Taiwan), Landis+Gyr (Switzerland), Belkin International (US), Corinex Communications (Canada), devolo (Germany), and Zyxel Communications (Taiwan).

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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 5000 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.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" 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.

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MarketsandMarkets™ INC.
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Battery Energy Storage System Market worth 6.81 Billion USD by 2022 (Research Analysis)

The battery energy storage system market is expected to grow at a CAGR of 37.0% between 2016 and 2022 and is expected to reach USD 6.81 Billion by 2022. The growth of the market is driven by the increasing demand for grid connected solutions, growing electric vehicle market, high requirement of lithium-ion batteries in various applications, and government support.

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There is a growing market for battery energy storage system in residential, non-residential, and transportation application. The residential battery energy storage systems are gaining popularity owing to interest in the use of natural energy and as a power source at the time of emergency. Moreover, lithium-ion batteries are expected to become mainstream technology for residential battery energy storage systems as it supports cutting down the amount of power lost from AC-DC conversion. 

The battery energy storage system in non-residential application supports electricity bills savings, thereby reducing the peak hour demand. This factor is expected to drive the growth of non-residential sector of this market. Additionally, the increasing market of electric vehicles is supporting the growth of the battery energy storage system market for the transportation sector.

Browse 75 market data tables and 77 figures spread through 165 pages and in-depth TOC on “Battery Energy Storage System Market - Global Forecast to 2022"
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The battery energy storage system market on the basis of battery type is segmented into advanced-lead acid batteries, flow batteries, lithium-ion batteries, and sodium-sulfur (NAS) batteries among others. The lithium-ion batteries (LIBs) are currently used in a majority of BEVs and PHEVs, and it is likely that they would continue to lead throughout the next decade. Furthermore, the increasing advancement in flow batteries which are considered safer than lithium-ion batteries are expected to support the growth of battery energy storage system. The flow batteries can resist greater temperatures and periods of idleness, which makes them suitable for storing and releasing renewable energy such as that from solar panels and wind turbines. The most popular flow batteries include vanadium redox flow battery and hybrid flow batteries which include zinc-bromine, zinc-cerium, and lead-acid among others. These factors are driving the growth of the market for battery energy storage system based on the flow battery technology.

In 2015, the utility application held the largest market in Asia-Pacific, whereas the residential application is expected to grow at a high CAGR between 2016 and 2022. The major reasons driving the growth of the battery energy storage system market in the APAC region is the large number energy storage installations in countries such as China, Japan, and India.

The ecosystem of the battery energy storage system market includes the raw material provider and component manufacturer, battery energy storage system manufacturers, system integrators, and distributors. The key players in the market include ABB Ltd. (Switzerland), AEG Power Solutions (The Netherland), General Electric Co. (U.S.), Hitachi ltd (Japan), LG Chem. (South Korea), NEC Corporation (Japan), Panasonic Corporation (Japan), Samsung SDI Co., ltd. (South Korea), Siemens AG (Germany), and Tesla Motors Ltd. (U.S.) among others.

Key Target Audience:

• Battery energy storage system developers
• Grid connected solution providers
• Research organizations
• Technology investors
• Technology standards organizations
• Associations, forums, and alliances related to battery energy storage system
• Government bodies such as regulating authorities and policy makers

“Study answers several questions for the stakeholders, primarily which market segments to focus in the next two to five years for prioritizing the efforts and investments.”

Scope of the Report

The research report segments the battery energy storage system market into the following submarkets:

By Battery Type:

• Lithium-Ion Batteries
• Advanced Lead-Acid Batteries
• Flow Batteries
• Sodium-Sulfur (NAS) Batteries
• Others

By Connection Type:

• On-Grid
• Off-Grid

By Ownership:

• Customer-Owned
• Utility-Owned
• Third-Party-Owned

By Revenue Source:

• Hardware
• Software & Services

By Application:

• Residential
• Non-Residential
• Utility
• Transportation
• Others

By Geography:

• Americas
• Europe
• Asia-Pacific
• Rest of the World

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players

About MarketsandMarkets

MarketsandMarkets is the world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M’s flagship competitive intelligence and market research platform, "RT" 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. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

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