Market Summary :

The global mobile energy storage system market reached a significantly robust value in 2020 and is expected to register a substantial revenue CAGR over the forecast period. Major factor driving market revenue growth is rising importance of renewable energy resources worldwide. Moreover, government investments on supply of electricity to remote areas is expected to enhance market growth.

Mobile energy storage system integrates the Battery system with EMS, BMS, and a transportation platform. It is scalable according to the specifications ranging from 0.2 MWh to 1 Mwh. It is widely applied in emergency communication, power insurance, rescue and relief work, key activities, military command, and field exploration.

Market Dynamics:
Drivers:

Growing popularity of mobile energy storage systems to meet the increasing need for energy and key benefits of the product are expected to drive market growth over the forecast period. For instance, mobile energy storage can provide backup power to storm prone areas, offer additional power generation, provide energy storage services on short notice or seasonal or short term contracts, and increase the efficiency of diesel generators.

Increasing public awareness about greenhouse gases globally creates demand for mobile energy storage systems. These systems are generally used for storage of renewable energy. Technological changes toward renewable power generation are therefore expected to support the growth of the mobile energy storage market over the forecast horizon.

Mobile energy is based on decentralized power generation technology, which is a cost-effective, reliable, and viable alternative for the future of energy generation and distribution. These systems are robust, flexible, modular, and reliable electric capacity resources that assist with a broad spectrum of electricity-related services. Such factors are expected to further boost the market growth over the forecast period.  

Restraints:

However, high initial cost may restrain the market as companies are not completely aware of the costing structure and some manufacturers are unable to provide upfront costs.

Market Insights:
Type Outlook:

On the basis of type, the mobile energy storage system market is segmented into li-ion battery, sodium-based battery, lead-acid battery, and others. The li-ion battery segment accounted for largest revenue share in the global market in 2020.

Application Outlook:

On the basis of application, the mobile energy storage system market is segmented into residential, commercial, industrial, and others. The residential segment is expected to register high growth due to rapid urbanization in developing countries.

Region Outlook:

Revenue from the Asia Pacific mobile energy storage system market is expected to grow at a significant rate due to increasing investments in the renewable energy sector, especially in the emerging economies such as India and China.

For instance, The International Energy Agency (IEA), in partnership with NITI Aayog, conducted a research on India’s energy policies for the World Energy Outlook 2020 series. The report focuses on the necessity of renewables to meet rapidly increasing electricity demand in India.

Also, the increasing use of Electric Vehicles (EVs) and Hybrid Electric Vehicles (HEVs) may drive the market in the European region.

Companies profiled in the market report

Prominent players in the market are Aquion Energy, Green Charge, LG Chem, Panasonic, NEC Energy Solutions, NRG Energy, Amperex Technology, Boston Power, Power Edison, China Aviation Lithium Battery, EnerSys, and GE Energy Storage.

The report contains an industry analysis of the recent developments and trends in the mobile energy storage system market and strategies adopted by key players operating in the market. This also includes collaborations, business contracts, mergers and acquisitions, and joint ventures.

For instance, in February 2020, GreenChoice entered into a partnership with Greener Engineering (Germany-based engineering startup) for the transformation of energy into mobile power sources from containerized energy storage systems. With a total capacity of 3,360 kWh, ten mobile systems will be charged by GreenChoice’s wind farms. The mobile batteries can then be “wheeled” over to customers, which can be charged in 43 minutes.

Segments covered in the report:

This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2018 to 2028. The global mobile energy storage system market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the global mobile energy storage system market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues.

 

For the purpose of this report, Reports and Data has segmented the global mobile energy storage system market on the basis of types, application and region:

By Types (Revenue, USD Million; 2018 – 2028)

  • Li-ion battery
  • Sodium-based battery
  • Lead-acid battery
  • Others

By Application (Revenue, USD Million; 2018 – 2028)

  • Residential
  • Commercial
  • Industrial
  • Others

Region Outlook (Revenue, USD Million; 2018 – 2028)

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Benelux
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of Middle East & Africa

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Key questions answered by the report