Energy Storage Market Prospect 2019-12-20

International market research organization “Reportsnreports” released a report that by 2022, the global battery energy storage system scale will reach 6.81 billion US dollars, during which the compound annual growth rate is as high as 37%.


According to the report, the main reasons for the rapid growth of battery energy storage systems are as follows:Increased demand for connected solutions, rapid development of the electric vehicle market, increased application of lithium-ion batteries, and policy support.


The report believes that by 2022, electric vehicles will be the primary factor in promoting the rapid growth of battery energy storage systems. It is estimated that by 2020, the global electric vehicle ownership will reach 20 million. China, the United States, Japan, Spain, France, Germany, Portugal, the Netherlands, and India are the major electric vehicle sales markets.


From a regional perspective, by 2022, North America will be the largest regional market for battery energy storage systems, but in terms of CAGR, the Asia-Pacific region will experience the fastest growth, increasing demand for electric vehicles, and increasing installation of battery energy storage systems Is the main reason.


From a business perspective, by 2022, ABB in Switzerland, AEG in the Netherlands, General Electric in the United States, Hitachi in Japan, LG Chem in South Korea, NEC in Japan, Panasonic in Japan, Samsung in Germany, Siemens in Germany, and Tesla in the United States will become the world's leading battery storage companies. Energy system supplier.


In recent years, China ’s energy storage has shown a good momentum of diversified development: pumped energy storage has developed rapidly; compressed air energy storage, flywheel energy storage, superconducting energy storage and super capacitors, lead storage batteries, lithium ion batteries, sodium sulfur batteries, and flow batteries R & D and application of energy storage technologies have accelerated; heat storage, cold storage, and hydrogen storage technologies have also made some progress.


Lithium-ion batteries are currently the most common energy storage technology on the market. They are widely used in various personal electronic products, mobile devices and even on-board batteries for electric vehicles. Generally speaking, we refer to lithium batteries as lithium-ion batteries, which are generally divided into energy storage lithium batteries and power lithium batteries according to their uses. Energy storage lithium batteries are used in photovoltaics or UPSs. The internal resistance is relatively large, and the charging and discharging speed is slow, generally 0.5 ~ 1C. The power battery is generally used in electric vehicles. The internal resistance is small, and the charging and discharging speed is fast. 5C.


At present, the hot lithium titanate materials are also worthy of attention. It can replace graphite as the anode material. Although the energy density is not high, lithium titanate can enable the battery to achieve high rate charge and discharge, and has excellent safety performance and long cycle life. It is reported that the fourth-generation high-energy density lithium titanate battery currently developed by Yinlong has a cost reduction of 40% and an energy density increase of 60% compared with the third generation.


We,OSN Power Energy Limited are specialized in Energy Storage System battery market for more than 12 year,If you have any demands about the Lithium batteries,pls feel free to contact with us,then the suitable battery solution will be sent at the first time.

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