Renewable Energy Integration focuses on incorporating renewable energy, distributed generation, energy storage, thermally activated technologies, and demand response into the electric distribution and transmission system. A systems approach is being used to conduct integration development and demonstrations to address technical, economic, regulatory, and institutional barriers for using renewable and distributed systems. In addition to fully addressing operational issues, the integration also establishes viable business models for incorporating these technologies into capacity planning, grid operations, and demand-side management.
MARKET SCOPE
The "Global Energy storage for renewables integration Market Analysis to 2028" is a specialized and in-depth study of the energy storage for renewables integration market with a special focus on the global market trend analysis. The report aims to provide an overview of energy storage for renewables integration market with detailed market segmentation by type, application, and geography. The global energy storage for renewables integration market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading energy storage for renewables integration market players and offers key trends and opportunities in the energy storage for renewables integration market.
MARKET SEGMENTATION
- The global energy storage for renewables integration market is segmented on the basis of type, application.li-ion battery, lead acid battery, others.
- On the basis of application, it is fragmented into multiple, and singleh.
Drivers:
- The costs to develop new renewable energy projects continue to drop around the globe while policy incentives, target capacity mandates, and resilience demand for behind-the-meter (BTM) customers continue to increase.
- As a result, capacity for wind and solar PV continue to rise in all regions and market segments-from small residential systems to utility-scale systems..
- Lack of awareness related to environmental initiatives.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The energy storage for renewables integration market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the energy storage for renewables integration market in these regions.
IMPACT OF COVID-19 ON ENERGY STORAGE FOR RENEWABLES INTEGRATION MARKET
The energy storage for renewables integration market size has grown significantly in recent years. However, due to the outbreak of the COVID-19 pandemic, the market experienced a sharp decline in 2020. This is due to the diminished energy usage in heavy industries such as petroleum, coal, and natural gas. This has led to deflated energy demand across the key economics including U.S., Italy, Germany, UK, and others. However, the market has survived owing to surge in demand from the household energy consumption. The imposition of lockdown has increased home activities such as online shopping, remote work, powering home appliances, cooling or heating home, and streaming entertainment services. Therefore, the application of energy management systems in household energy consumption has increased the demand in the market during the COVID-19 pandemic, having a positive impact on the market.
MARKET PLAYERS
The report covers key developments in the energy storage for renewables integration market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from energy storage for renewables integrationmarket market are anticipated to lucrative growth opportunities in the future with the rising demand for energy storage for renewables integration market in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Energy storage for renewables integration market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ABB
- East Penn Manufacturing
- LG Chem
- Robert Bosch
- Beacon Power
- BYD
- Exide Technologies
- General Electric
- Samsung SDI
- Kokam.