Need help finding what you are looking for?
Contact Us
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1663375
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1663375
Global Long Duration Energy Storage Market Size study, by Technology, Duration, Capacity, Application, End User, and Regional Forecasts 2022-2032
PUBLISHED:
PAGES: 285 Pages
DELIVERY TIME: 2-3 business days
SELECT AN OPTION
The Global Long Duration Energy Storage Market is valued at approximately USD 4.26 billion in 2023 and is expected to grow at an impressive CAGR of 13.6% during the forecast period 2024-2032. The long-duration energy storage market plays a critical role in ensuring grid stability and resilience as renewable energy sources become more prominent in energy systems worldwide. The increasing integration of renewables like solar and wind demands efficient storage solutions to handle intermittent energy supplies. As nations focus on decarbonizing electricity, demand for long-duration energy storage technologies such as flow batteries, compressed air, and thermal storage is rapidly rising.
Government policies and incentives that support energy storage deployment, along with advancements in storage technologies, are driving the market forward. Cost reductions in storage solutions have further enhanced economic feasibility, enabling global carbon neutrality and accelerating the energy transition. Additionally, the grid management segment emerges as a leader in the market due to the critical role of energy storage in frequency regulation, voltage stability, and peak load management.
Utilities are anticipated to be the largest end-user segment, driven by the necessity for grid stability and increasing adoption of renewables. Furthermore, North America leads the market owing to extensive integration of renewable energy sources, ambitious decarbonization goals, and supportive government initiatives such as energy storage mandates and tax incentives.
Major market players included in this report are:
- Sumitomo Electric Industries, Ltd.
- ESS Tech, Inc.
- Energy Vault, Inc.
- Eos Energy Enterprises
- Invinity Energy Systems
- MAN Energy Solutions
- Highview Power
- Primus Power
- CMBlu Energy AG
- Malta Inc.
- Fluence Energy, Inc.
- Tesla, Inc.
- Siemens AG
- Lockheed Martin Corporation
- NGK Insulators, Ltd.
The detailed segments and sub-segments of the market are explained below:
By Technology
- Mechanical Storage
- Thermal Storage
- Electrochemical Storage
By Duration
- 8 to 24 Hours
- 24 to 36 Hours
- 36 Hours
By Capacity
- Up to 50 MW
- 50-100 MW
- More Than 100 MW
By Application
- Grid Management
- Energy Arbitrage
- Backup Power
By End User
- Utilities
- Commercial & Industrial
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Years considered for the study are as follows:
- Historical Year - 2022
- Base Year - 2023
- Forecast Period - 2024 to 2032
Key Takeaways:
- Market estimates & forecasts for 10 years from 2022 to 2032.
- Regional and country-level analysis for each market segment.
- Detailed competitive landscape profiling key players in the market.
- Insights into key business strategies and recommendations for future market approaches.
- Analysis of market dynamics, including drivers, challenges, and opportunities.
Table of Contents
Chapter 1. Global Long Duration Energy Storage Market Executive Summary
- 1.1. Global Long Duration Energy Storage Market Size & Forecast (2022-2032)
- 1.2. Regional Summary
- 1.3. Segmental Summary
- 1.3.1. By Technology
- 1.3.2. By Duration
- 1.3.3. By Capacity
- 1.3.4. By Application
- 1.3.5. By End User
- 1.4. Key Trends
- 1.5. Recession Impact
- 1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Long Duration Energy Storage Market Definition and Research Assumptions
- 2.1. Research Objective
- 2.2. Market Definition
- 2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
- 2.3.3.1. Availability
- 2.3.3.2. Infrastructure
- 2.3.3.3. Regulatory Environment
- 2.3.3.4. Market Competition
- 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
- 2.3.4.1. Regulatory Frameworks
- 2.3.4.2. Technological Advancements
- 2.3.4.3. Environmental Considerations
- 2.3.4.4. Consumer Awareness & Acceptance
- 2.4. Estimation Methodology
- 2.5. Years Considered for the Study
- 2.6. Currency Conversion Rates
Chapter 3. Global Long Duration Energy Storage Market Dynamics
- 3.1. Market Drivers
- 3.1.1. Growing adoption of renewable energy sources
- 3.1.2. Advancements in energy storage technologies
- 3.1.3. Favorable government policies and incentives
- 3.2. Market Challenges
- 3.2.1. High capital costs of energy storage solutions
- 3.2.2. Regulatory challenges in some regions
- 3.3. Market Opportunities
- 3.3.1. Expansion of energy storage in emerging economies
- 3.3.2. Development of advanced storage solutions
Chapter 4. Global Long Duration Energy Storage Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
- 4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
- 4.3. Top Investment Opportunities
- 4.4. Top Winning Strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Long Duration Energy Storage Market Size & Forecasts by Technology 2022-2032
- 5.1. Segment Dashboard
- 5.2. Global Long Duration Energy Storage Market: Technology Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. Mechanical Storage
- 5.2.2. Thermal Storage
- 5.2.3. Electrochemical Storage
Chapter 6. Global Long Duration Energy Storage Market Size & Forecasts by Duration 2022-2032
- 6.1. Segment Dashboard
- 6.2. Global Long Duration Energy Storage Market: Duration Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. 8 to 24 Hours
- 6.2.2. >24 to 36 Hours
- 6.2.3. >36 Hours
Chapter 7. Global Long Duration Energy Storage Market Size & Forecasts by Capacity 2022-2032
- 7.1. Segment Dashboard
- 7.2. Global Long Duration Energy Storage Market: Capacity Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 7.2.1. Up to 50 MW
- 7.2.2. 50-100 MW
- 7.2.3. More Than 100 MW
Chapter 8. Global Long Duration Energy Storage Market Size & Forecasts by Application 2022-2032
- 8.1. Segment Dashboard
- 8.2. Global Long Duration Energy Storage Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 8.2.1. Grid Management
- 8.2.2. Energy Arbitrage
- 8.2.3. Backup Power
Chapter 9. Global Long Duration Energy Storage Market Size & Forecasts by End User 2022-2032
- 9.1. Segment Dashboard
- 9.2. Global Long Duration Energy Storage Market: End User Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 9.2.1. Utilities
- 9.2.2. Commercial & Industrial
Chapter 10. Global Long Duration Energy Storage Market Size & Forecasts by Region 2022-2032
- 10.1. North America Long Duration Energy Storage Market
- 10.1.1. U.S. Long Duration Energy Storage Market
- 10.1.1.1. Technology breakdown size & forecasts, 2022-2032
- 10.1.1.2. Duration breakdown size & forecasts, 2022-2032
- 10.1.1.3. Capacity breakdown size & forecasts, 2022-2032
- 10.1.2. Canada Long Duration Energy Storage Market
- 10.1.1. U.S. Long Duration Energy Storage Market
- 10.2. Europe Long Duration Energy Storage Market
- 10.2.1. U.K. Long Duration Energy Storage Market
- 10.2.2. Germany Long Duration Energy Storage Market
- 10.2.3. France Long Duration Energy Storage Market
- 10.2.4. Spain Long Duration Energy Storage Market
- 10.2.5. Italy Long Duration Energy Storage Market
- 10.2.6. Rest of Europe Long Duration Energy Storage Market
- 10.3. Asia-Pacific Long Duration Energy Storage Market
- 10.3.1. China Long Duration Energy Storage Market
- 10.3.2. India Long Duration Energy Storage Market
- 10.3.3. Japan Long Duration Energy Storage Market
- 10.3.4. Australia Long Duration Energy Storage Market
- 10.3.5. South Korea Long Duration Energy Storage Market
- 10.3.6. Rest of Asia Pacific Long Duration Energy Storage Market
- 10.4. Latin America Long Duration Energy Storage Market
- 10.4.1. Brazil Long Duration Energy Storage Market
- 10.4.2. Mexico Long Duration Energy Storage Market
- 10.4.3. Rest of Latin America Long Duration Energy Storage Market
- 10.5. Middle East & Africa Long Duration Energy Storage Market
- 10.5.1. Saudi Arabia Long Duration Energy Storage Market
- 10.5.2. South Africa Long Duration Energy Storage Market
- 10.5.3. Rest of Middle East & Africa Long Duration Energy Storage Market
Chapter 11. Competitive Intelligence
- 11.1. Key Company SWOT Analysis
- 11.1.1. Sumitomo Electric Industries, Ltd.
- 11.1.2. ESS Tech, Inc.
- 11.1.3. Energy Vault, Inc.
- 11.2. Top Market Strategies
- 11.3. Company Profiles
- 11.3.1. Sumitomo Electric Industries, Ltd.
- 11.3.2. ESS Tech, Inc.
- 11.3.3. Energy Vault, Inc.
- 11.3.4. Eos Energy Enterprises
- 11.3.5. Invinity Energy Systems
- 11.3.6. MAN Energy Solutions
- 11.3.7. Highview Power
- 11.3.8. Primus Power
- 11.3.9. CMBlu Energy AG
- 11.3.10. Malta Inc.
Chapter 12. Research Process
- 12.1. Research Process
- 12.1.1. Data Mining
- 12.1.2. Analysis
- 12.1.3. Market Estimation
- 12.1.4. Validation
- 12.1.5. Publishing
- 12.2. Research Attributes
Have a question?
SELECT AN OPTION
Have a question?
Questions? Please give us a call or visit the contact form.