New Energy Storage Deployments in Major World Markets Are Expected to Total Nearly 62 GW from 2015 to 2025, According to Navigant Research
The United States and China are expected to see substantial growth
in energy storage deployments in the coming decade, report finds
A recent report from Navigant
Research examines the market for grid-tied energy storage systems
(ESSs) in 22 countries, with forecasts for power capacity, energy
capacity, and revenue, segmented by technology, through 2025.
The major markets in North America are expected to be the largest
globally for grid-tied ESSs in 2015, but the more rapidly growing Asia
Pacific markets are expected to take the lead around 2018. Overall, the
five major markets in Asia Pacific are expected to deploy 199.5 MW of
distributed storage capacity in 2015, increasing to 9,416.6 MW in 2025
at a compound annual growth rate (CAGR) of 47 percent. Click
to tweet: According to a recent report from @NavigantRSRCH,
new energy storage deployments in major world markets are expected to
total nearly 62 GW from 2015 to 2025.
“Given the wide variety of factors influencing country-level energy
storage markets, it is essential for vendors and developers to
understand the dynamics, customers, and potential growth patterns for
each individual country,” says Alex Eller, research analyst with
Navigant Research. “Many countries and regions will have a much larger
market for either utility-scale or distributed storage systems, and
these dynamics will necessitate different business models to serve the
market.”
Many countries’ storage markets are in a nascent stage and will not
begin to significantly develop for several years, according to the
report. The rapidly declining price of storage technologies is expected
to enable new country-level markets to open at an increasing pace over
the coming decade, and resources could be wasted by attempting to
operate in a country before the market is ready.
The report, Country
Forecasts for Grid-Tied Energy Storage, analyzes the capacity
and revenue of grid-tied energy storage systems that will be deployed in
major markets around the world. The forecasts cover both utility-scale
and distributed energy storage applications for the nine most popular
technologies in each country. This study also examines the key factors
contributing to the opportunities for energy storage in the 22 major
countries profiled. Country-level forecasts for power capacity, energy
capacity, and revenue by technology 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, Country Forecasts for Grid-Tied 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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