Global Off-grid Energy Storage System Market 2024-2028

PUBLISHED: July 22, 2024

PAGES: 152 Pages

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The off-grid energy storage system market is forecasted to grow by USD 6.1 bn during 2023-2028, accelerating at a CAGR of 6.9% during the forecast period. The report on the off-grid energy storage system 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 change in energy mix, increased need for backup power, and increasing economic benefits of ess.

Technavio's off-grid energy storage system market is segmented as below:

Market Scope
Base Year	2024
End Year	2028
Series Year	2024-2028
Growth Momentum	Accelerate
YOY 2024	6.49%
CAGR	6.9%
Incremental Value	$6.1bn

By Battery Type

Li-ion
LAB
Sodium based batteries
Others

By Geography

North America
APAC
Europe
South America
Middle East and Africa

This study identifies the increased adoption of microgrids as one of the prime reasons driving the off-grid energy storage system market growth during the next few years. Also, rise in power consumption and decline in cost of esss will lead to sizable demand in the market.

The report on the off-grid energy storage system market covers the following areas:

Off-grid energy storage system market sizing
Off-grid energy storage system market forecast
Off-grid energy storage system 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 off-grid energy storage system market vendors that include Amperex Technology Ltd., Aquion Energy, Boston Power, CALB Co. Ltd., CEA, EnerSys, Fronius International GmbH, General Electric Co., LG Energy Solution Ltd., Mitsubishi Heavy Industries Ltd., NEC Corp., NRG Energy Inc., Primus Power Solutions, Saft Groupe SAS, Samsung SDI Co. Ltd., Sonnen GmbH, Sumitomo Electric Industries Ltd., Toshiba Corp., Xtreme Power Inc., and ZEN Energy Retail Pty Ltd.. Also, the off-grid energy storage system 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 research - both primary and secondary. 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 the accurate market growth.

Product Code: IRTNTR74573

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 Geography
- Executive Summary - Chart on Market Segmentation by Battery Type
- 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 ($ billion)
- Data Table on Global - Market size and forecast 2023-2028 ($ billion)
- 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 Off-Grid Energy Storage System Market 2018 - 2022
- Historic Market Size - Data Table on Global Off-Grid Energy Storage System Market 2018 - 2022 ($ billion)
4.2 Battery Type segment analysis 2018 - 2022
- Historic Market Size - Battery Type Segment 2018 - 2022 ($ billion)
4.3 Geography segment analysis 2018 - 2022
- Historic Market Size - Geography Segment 2018 - 2022 ($ billion)
4.4 Country segment analysis 2018 - 2022
- Historic Market Size - Country Segment 2018 - 2022 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary
- Five forces analysis - Comparison between 2023 and 2028
5.2 Bargaining power of buyers
- Bargaining power of buyers - Impact of key factors 2023 and 2028
5.3 Bargaining power of suppliers
- Bargaining power of suppliers - Impact of key factors in 2023 and 2028
5.4 Threat of new entrants
- Threat of new entrants - Impact of key factors in 2023 and 2028
5.5 Threat of substitutes
- Threat of substitutes - Impact of key factors in 2023 and 2028
5.6 Threat of rivalry
- Threat of rivalry - Impact of key factors in 2023 and 2028
5.7 Market condition
- Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Battery Type

6.1 Market segments
- Chart on Battery Type - Market share 2023-2028 (%)
- Data Table on Battery Type - Market share 2023-2028 (%)
6.2 Comparison by Battery Type
- Chart on Comparison by Battery Type
- Data Table on Comparison by Battery Type
6.3 Li-ion - Market size and forecast 2023-2028
- Chart on Li-ion - Market size and forecast 2023-2028 ($ billion)
- Data Table on Li-ion - Market size and forecast 2023-2028 ($ billion)
- Chart on Li-ion - Year-over-year growth 2023-2028 (%)
- Data Table on Li-ion - Year-over-year growth 2023-2028 (%)
6.4 LAB - Market size and forecast 2023-2028
- Chart on LAB - Market size and forecast 2023-2028 ($ billion)
- Data Table on LAB - Market size and forecast 2023-2028 ($ billion)
- Chart on LAB - Year-over-year growth 2023-2028 (%)
- Data Table on LAB - Year-over-year growth 2023-2028 (%)
6.5 Sodium based batteries - Market size and forecast 2023-2028
- Chart on Sodium based batteries - Market size and forecast 2023-2028 ($ billion)
- Data Table on Sodium based batteries - Market size and forecast 2023-2028 ($ billion)
- Chart on Sodium based batteries - Year-over-year growth 2023-2028 (%)
- Data Table on Sodium based batteries - Year-over-year growth 2023-2028 (%)
6.6 Others - Market size and forecast 2023-2028
- Chart on Others - Market size and forecast 2023-2028 ($ billion)
- Data Table on Others - Market size and forecast 2023-2028 ($ billion)
- Chart on Others - Year-over-year growth 2023-2028 (%)
- Data Table on Others - Year-over-year growth 2023-2028 (%)
6.7 Market opportunity by Battery Type
- Market opportunity by Battery Type ($ billion)
- Data Table on Market opportunity by Battery Type ($ billion)

7 Customer Landscape

7.1 Customer landscape overview
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

8.1 Geographic segmentation
- Chart on Market share by geography 2023-2028 (%)
- Data Table on Market share by geography 2023-2028 (%)
8.2 Geographic comparison
- Chart on Geographic comparison
- Data Table on Geographic comparison
8.3 North America - Market size and forecast 2023-2028
- Chart on North America - Market size and forecast 2023-2028 ($ billion)
- Data Table on North America - Market size and forecast 2023-2028 ($ billion)
- Chart on North America - Year-over-year growth 2023-2028 (%)
- Data Table on North America - Year-over-year growth 2023-2028 (%)
8.4 APAC - Market size and forecast 2023-2028
- Chart on APAC - Market size and forecast 2023-2028 ($ billion)
- Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
- Chart on APAC - Year-over-year growth 2023-2028 (%)
- Data Table on APAC - Year-over-year growth 2023-2028 (%)
8.5 Europe - Market size and forecast 2023-2028
- Chart on Europe - Market size and forecast 2023-2028 ($ billion)
- Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
- Chart on Europe - Year-over-year growth 2023-2028 (%)
- Data Table on Europe - Year-over-year growth 2023-2028 (%)
8.6 South America - Market size and forecast 2023-2028
- Chart on South America - Market size and forecast 2023-2028 ($ billion)
- Data Table on South America - Market size and forecast 2023-2028 ($ billion)
- Chart on South America - Year-over-year growth 2023-2028 (%)
- Data Table on South America - Year-over-year growth 2023-2028 (%)
8.7 Middle East and Africa - Market size and forecast 2023-2028
- Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
- Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
- Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
- Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
8.8 US - Market size and forecast 2023-2028
- Chart on US - Market size and forecast 2023-2028 ($ billion)
- Data Table on US - Market size and forecast 2023-2028 ($ billion)
- Chart on US - Year-over-year growth 2023-2028 (%)
- Data Table on US - Year-over-year growth 2023-2028 (%)
8.9 China - Market size and forecast 2023-2028
- Chart on China - Market size and forecast 2023-2028 ($ billion)
- Data Table on China - Market size and forecast 2023-2028 ($ billion)
- Chart on China - Year-over-year growth 2023-2028 (%)
- Data Table on China - Year-over-year growth 2023-2028 (%)
8.10 Germany - Market size and forecast 2023-2028
- Chart on Germany - Market size and forecast 2023-2028 ($ billion)
- Data Table on Germany - Market size and forecast 2023-2028 ($ billion)
- Chart on Germany - Year-over-year growth 2023-2028 (%)
- Data Table on Germany - Year-over-year growth 2023-2028 (%)
8.11 France - Market size and forecast 2023-2028
- Chart on France - Market size and forecast 2023-2028 ($ billion)
- Data Table on France - Market size and forecast 2023-2028 ($ billion)
- Chart on France - Year-over-year growth 2023-2028 (%)
- Data Table on France - Year-over-year growth 2023-2028 (%)
8.12 India - Market size and forecast 2023-2028
- Chart on India - Market size and forecast 2023-2028 ($ billion)
- Data Table on India - Market size and forecast 2023-2028 ($ billion)
- Chart on India - Year-over-year growth 2023-2028 (%)
- Data Table on India - Year-over-year growth 2023-2028 (%)
8.13 Market opportunity by geography
- Market opportunity by geography ($ billion)
- Data Tables on Market opportunity by geography ($ billion)

9 Drivers, Challenges, and Opportunity/Restraints

9.1 Market drivers
9.2 Market challenges
9.3 Impact of drivers and challenges
- Impact of drivers and challenges in 2023 and 2028
9.4 Market opportunities/restraints

10 Competitive Landscape

10.1 Overview
10.2 Competitive Landscape
- Overview on criticality of inputs and factors of differentiation
10.3 Landscape disruption
- Overview on factors of disruption
10.4 Industry risks
- Impact of key risks on business

11 Competitive Analysis

11.1 Companies profiled
- Companies covered
11.2 Market positioning of companies
- Matrix on companies position and classification
11.3 Amperex Technology Ltd.
- Amperex Technology Ltd. - Overview
- Amperex Technology Ltd. - Product / Service
- Amperex Technology Ltd. - Key offerings
11.4 Aquion Energy
- Aquion Energy - Overview
- Aquion Energy - Product / Service
- Aquion Energy - Key offerings
11.5 Boston Power
- Boston Power - Overview
- Boston Power - Product / Service
- Boston Power - Key offerings
11.6 CALB Co. Ltd.
- CALB Co. Ltd. - Overview
- CALB Co. Ltd. - Product / Service
- CALB Co. Ltd. - Key offerings
11.7 EnerSys
- EnerSys - Overview
- EnerSys - Business segments
- EnerSys - Key news
- EnerSys - Key offerings
- EnerSys - Segment focus
11.8 General Electric Co.
- General Electric Co. - Overview
- General Electric Co. - Business segments
- General Electric Co. - Key news
- General Electric Co. - Key offerings
- General Electric Co. - Segment focus
11.9 LG Energy Solution Ltd.
- LG Energy Solution Ltd. - Overview
- LG Energy Solution Ltd. - Product / Service
- LG Energy Solution Ltd. - Key offerings
11.10 Mitsubishi Heavy Industries Ltd.
- Mitsubishi Heavy Industries Ltd. - Overview
- Mitsubishi Heavy Industries Ltd. - Business segments
- Mitsubishi Heavy Industries Ltd. - Key news
- Mitsubishi Heavy Industries Ltd. - Key offerings
- Mitsubishi Heavy Industries Ltd. - Segment focus
11.11 NEC Corp.
- NEC Corp. - Overview
- NEC Corp. - Business segments
- NEC Corp. - Key news
- NEC Corp. - Key offerings
- NEC Corp. - Segment focus
11.12 NRG Energy Inc.
- NRG Energy Inc. - Overview
- NRG Energy Inc. - Business segments
- NRG Energy Inc. - Key offerings
- NRG Energy Inc. - Segment focus

12 Appendix

12.1 Scope of the report
12.2 Inclusions and exclusions checklist
- Inclusions checklist
- Exclusions checklist
12.3 Currency conversion rates for US$
- Currency conversion rates for US$
12.4 Research methodology
- Research methodology
12.5 Data procurement
- Information sources
12.6 Data validation
- Data validation
12.7 Validation techniques employed for market sizing
- Validation techniques employed for market sizing
12.8 Data synthesis
- Data synthesis
12.9 360 degree market analysis
- 360 degree market analysis
12.10 List of abbreviations
- List of abbreviations

Product Code: IRTNTR74573

Exhibits:

Exhibits1: Executive Summary - Chart on Market Overview
Exhibits2: Executive Summary - Data Table on Market Overview
Exhibits3: Executive Summary - Chart on Global Market Characteristics
Exhibits4: Executive Summary - Chart on Market by Geography
Exhibits5: Executive Summary - Chart on Market Segmentation by Battery Type
Exhibits6: Executive Summary - Chart on Incremental Growth
Exhibits7: Executive Summary - Data Table on Incremental Growth
Exhibits8: Executive Summary - Chart on Company Market Positioning
Exhibits9: Parent Market
Exhibits10: Data Table on - Parent Market
Exhibits11: Market characteristics analysis
Exhibits12: Value Chain Analysis
Exhibits13: Offerings of companies included in the market definition
Exhibits14: Market segments
Exhibits15: Chart on Global - Market size and forecast 2023-2028 ($ billion)
Exhibits16: Data Table on Global - Market size and forecast 2023-2028 ($ billion)
Exhibits17: Chart on Global Market: Year-over-year growth 2023-2028 (%)
Exhibits18: Data Table on Global Market: Year-over-year growth 2023-2028 (%)
Exhibits19: Historic Market Size - Data Table on Global Off-Grid Energy Storage System Market 2018 - 2022 ($ billion)
Exhibits20: Historic Market Size - Battery Type Segment 2018 - 2022 ($ billion)
Exhibits21: Historic Market Size - Geography Segment 2018 - 2022 ($ billion)
Exhibits22: Historic Market Size - Country Segment 2018 - 2022 ($ billion)
Exhibits23: Five forces analysis - Comparison between 2023 and 2028
Exhibits24: Bargaining power of buyers - Impact of key factors 2023 and 2028
Exhibits25: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
Exhibits26: Threat of new entrants - Impact of key factors in 2023 and 2028
Exhibits27: Threat of substitutes - Impact of key factors in 2023 and 2028
Exhibits28: Threat of rivalry - Impact of key factors in 2023 and 2028
Exhibits29: Chart on Market condition - Five forces 2023 and 2028
Exhibits30: Chart on Battery Type - Market share 2023-2028 (%)
Exhibits31: Data Table on Battery Type - Market share 2023-2028 (%)
Exhibits32: Chart on Comparison by Battery Type
Exhibits33: Data Table on Comparison by Battery Type
Exhibits34: Chart on Li-ion - Market size and forecast 2023-2028 ($ billion)
Exhibits35: Data Table on Li-ion - Market size and forecast 2023-2028 ($ billion)
Exhibits36: Chart on Li-ion - Year-over-year growth 2023-2028 (%)
Exhibits37: Data Table on Li-ion - Year-over-year growth 2023-2028 (%)
Exhibits38: Chart on LAB - Market size and forecast 2023-2028 ($ billion)
Exhibits39: Data Table on LAB - Market size and forecast 2023-2028 ($ billion)
Exhibits40: Chart on LAB - Year-over-year growth 2023-2028 (%)
Exhibits41: Data Table on LAB - Year-over-year growth 2023-2028 (%)
Exhibits42: Chart on Sodium based batteries - Market size and forecast 2023-2028 ($ billion)
Exhibits43: Data Table on Sodium based batteries - Market size and forecast 2023-2028 ($ billion)
Exhibits44: Chart on Sodium based batteries - Year-over-year growth 2023-2028 (%)
Exhibits45: Data Table on Sodium based batteries - Year-over-year growth 2023-2028 (%)
Exhibits46: Chart on Others - Market size and forecast 2023-2028 ($ billion)
Exhibits47: Data Table on Others - Market size and forecast 2023-2028 ($ billion)
Exhibits48: Chart on Others - Year-over-year growth 2023-2028 (%)
Exhibits49: Data Table on Others - Year-over-year growth 2023-2028 (%)
Exhibits50: Market opportunity by Battery Type ($ billion)
Exhibits51: Data Table on Market opportunity by Battery Type ($ billion)
Exhibits52: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
Exhibits53: Chart on Market share by geography 2023-2028 (%)
Exhibits54: Data Table on Market share by geography 2023-2028 (%)
Exhibits55: Chart on Geographic comparison
Exhibits56: Data Table on Geographic comparison
Exhibits57: Chart on North America - Market size and forecast 2023-2028 ($ billion)
Exhibits58: Data Table on North America - Market size and forecast 2023-2028 ($ billion)
Exhibits59: Chart on North America - Year-over-year growth 2023-2028 (%)
Exhibits60: Data Table on North America - Year-over-year growth 2023-2028 (%)
Exhibits61: Chart on APAC - Market size and forecast 2023-2028 ($ billion)
Exhibits62: Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
Exhibits63: Chart on APAC - Year-over-year growth 2023-2028 (%)
Exhibits64: Data Table on APAC - Year-over-year growth 2023-2028 (%)
Exhibits65: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
Exhibits66: Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
Exhibits67: Chart on Europe - Year-over-year growth 2023-2028 (%)
Exhibits68: Data Table on Europe - Year-over-year growth 2023-2028 (%)
Exhibits69: Chart on South America - Market size and forecast 2023-2028 ($ billion)
Exhibits70: Data Table on South America - Market size and forecast 2023-2028 ($ billion)
Exhibits71: Chart on South America - Year-over-year growth 2023-2028 (%)
Exhibits72: Data Table on South America - Year-over-year growth 2023-2028 (%)
Exhibits73: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
Exhibits74: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
Exhibits75: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
Exhibits76: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
Exhibits77: Chart on US - Market size and forecast 2023-2028 ($ billion)
Exhibits78: Data Table on US - Market size and forecast 2023-2028 ($ billion)
Exhibits79: Chart on US - Year-over-year growth 2023-2028 (%)
Exhibits80: Data Table on US - Year-over-year growth 2023-2028 (%)
Exhibits81: Chart on China - Market size and forecast 2023-2028 ($ billion)
Exhibits82: Data Table on China - Market size and forecast 2023-2028 ($ billion)
Exhibits83: Chart on China - Year-over-year growth 2023-2028 (%)
Exhibits84: Data Table on China - Year-over-year growth 2023-2028 (%)
Exhibits85: Chart on Germany - Market size and forecast 2023-2028 ($ billion)
Exhibits86: Data Table on Germany - Market size and forecast 2023-2028 ($ billion)
Exhibits87: Chart on Germany - Year-over-year growth 2023-2028 (%)
Exhibits88: Data Table on Germany - Year-over-year growth 2023-2028 (%)
Exhibits89: Chart on France - Market size and forecast 2023-2028 ($ billion)
Exhibits90: Data Table on France - Market size and forecast 2023-2028 ($ billion)
Exhibits91: Chart on France - Year-over-year growth 2023-2028 (%)
Exhibits92: Data Table on France - Year-over-year growth 2023-2028 (%)
Exhibits93: Chart on India - Market size and forecast 2023-2028 ($ billion)
Exhibits94: Data Table on India - Market size and forecast 2023-2028 ($ billion)
Exhibits95: Chart on India - Year-over-year growth 2023-2028 (%)
Exhibits96: Data Table on India - Year-over-year growth 2023-2028 (%)
Exhibits97: Market opportunity by geography ($ billion)
Exhibits98: Data Tables on Market opportunity by geography ($ billion)
Exhibits99: Impact of drivers and challenges in 2023 and 2028
Exhibits100: Overview on criticality of inputs and factors of differentiation
Exhibits101: Overview on factors of disruption
Exhibits102: Impact of key risks on business
Exhibits103: Companies covered
Exhibits104: Matrix on companies position and classification
Exhibits105: Amperex Technology Ltd. - Overview
Exhibits106: Amperex Technology Ltd. - Product / Service
Exhibits107: Amperex Technology Ltd. - Key offerings
Exhibits108: Aquion Energy - Overview
Exhibits109: Aquion Energy - Product / Service
Exhibits110: Aquion Energy - Key offerings
Exhibits111: Boston Power - Overview
Exhibits112: Boston Power - Product / Service
Exhibits113: Boston Power - Key offerings
Exhibits114: CALB Co. Ltd. - Overview
Exhibits115: CALB Co. Ltd. - Product / Service
Exhibits116: CALB Co. Ltd. - Key offerings
Exhibits117: EnerSys - Overview
Exhibits118: EnerSys - Business segments
Exhibits119: EnerSys - Key news
Exhibits120: EnerSys - Key offerings
Exhibits121: EnerSys - Segment focus
Exhibits122: General Electric Co. - Overview
Exhibits123: General Electric Co. - Business segments
Exhibits124: General Electric Co. - Key news
Exhibits125: General Electric Co. - Key offerings
Exhibits126: General Electric Co. - Segment focus
Exhibits127: LG Energy Solution Ltd. - Overview
Exhibits128: LG Energy Solution Ltd. - Product / Service
Exhibits129: LG Energy Solution Ltd. - Key offerings
Exhibits130: Mitsubishi Heavy Industries Ltd. - Overview
Exhibits131: Mitsubishi Heavy Industries Ltd. - Business segments
Exhibits132: Mitsubishi Heavy Industries Ltd. - Key news
Exhibits133: Mitsubishi Heavy Industries Ltd. - Key offerings
Exhibits134: Mitsubishi Heavy Industries Ltd. - Segment focus
Exhibits135: NEC Corp. - Overview
Exhibits136: NEC Corp. - Business segments
Exhibits137: NEC Corp. - Key news
Exhibits138: NEC Corp. - Key offerings
Exhibits139: NEC Corp. - Segment focus
Exhibits140: NRG Energy Inc. - Overview
Exhibits141: NRG Energy Inc. - Business segments
Exhibits142: NRG Energy Inc. - Key offerings
Exhibits143: NRG Energy Inc. - Segment focus
Exhibits144: Inclusions checklist
Exhibits145: Exclusions checklist
Exhibits146: Currency conversion rates for US$
Exhibits147: Research methodology
Exhibits148: Information sources
Exhibits149: Data validation
Exhibits150: Validation techniques employed for market sizing
Exhibits151: Data synthesis
Exhibits152: 360 degree market analysis
Exhibits153: List of abbreviations