Annual Revenue for the Commercial and Industrial Energy Storage Industry is Expected to Increase by $9.9 Billion by 2025, According to Navigant Research
Carbon reduction policies are aligning at multiple levels to
support the growth of energy storage technologies for commercial and
industrial customers, report finds
A recent report from Navigant
Research examines the global market for commercial and industrial
(C&I) energy storage, with a focus on advanced lead-acid, flow, and
lithium ion (Li-ion) batteries, including market forecasts for capacity
and revenue, through 2025.
The global market for C&I energy storage has experienced rapid growth as
a result of numerous market developments in the past two years. Across
the entire energy storage industry, decreasing prices for batteries and
other system components have helped make energy storage systems (ESSs)
an economical solution for more customers. Click
to tweet: According to a recent report from @NavigantRSRCH,
annual revenue for the C&I energy storage industry is expected to
increase by $9.9 billion by 2025.
“The landscape of vendors offering C&I ESSs is growing increasingly
diverse and competitive as vendors approach the market from different
angles,” says Alex Eller, research analyst with Navigant Research.
“Given the significant variations in energy use and building load
profiles, it can be difficult for vendors to offer a single,
standardized system that will meet a customer’s needs, so there is
pressure for more flexible systems.”
In key markets around the world, carbon reduction policies are aligning
at multiple levels to support the growth of energy storage technologies
for C&I customers, according to the report. In some markets, this has
resulted in increasing deployments of renewable energy generation and
electric vehicles, both of which create changes to grid operations and
increase the demand for ESSs to maintain grid stability and efficiency.
The report, Market
Data: Commercial & Industrial Energy Storage, analyzes the
global market for C&I energy storage, with a focus on advanced
lead-acid, flow, and lithium ion (Li-ion) batteries. The study provides
an overview of the market developments, technology trends, and business
models that are converging to drive significant growth in this space
during the next 10 years. A particular emphasis is placed on the energy
storage issues that vendors must consider for the nine unique building
types covered in this report. Global market forecasts for capacity and
revenue, segmented by building type, technology, and region, extend
through 2025. An Executive Summary of the report is available for free
download on the Navigant
Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of the
Energy Technologies, Utility Transformations, Transportation
Efficiencies, and Buildings Innovations sectors. Additional information
about Navigant Research can be found at www.navigantresearch.com.
About Navigant
Navigant Consulting, Inc. is a specialized, global professional services
firm that helps clients take control of their future. Navigant’s
professionals apply deep industry knowledge, substantive technical
expertise, and an enterprising approach to help clients build, manage
and/or protect their business interests. With a focus on markets and
clients facing transformational change and significant regulatory or
legal pressures, the Firm primarily serves clients in the healthcare,
energy and financial services industries. Across a range of advisory,
consulting, outsourcing, and technology/analytics services, Navigant’s
practitioners bring sharp insight that pinpoints opportunities and
delivers powerful results. More information about Navigant can be found
at navigant.com.
* The information contained in this press release concerning the
report, Market Data: Commercial & Industrial Energy Storage,
is a summary and reflects Navigant Research’s current expectations based
on market data and trend analysis. Market predictions and expectations
are inherently uncertain and actual results may differ materially from
those contained in this press release or the report. Please refer to the
full report for a complete understanding of the assumptions underlying
the report’s conclusions and the methodologies used to create the
report. Neither Navigant Research nor Navigant undertakes any obligation
to update any of the information contained in this press release or the
report.
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