LONDON--(BUSINESS WIRE)--Deployments of renewable energy generation projects have gathered steam across Asia. The integration of the majority of those generating facilities with battery-based energy storage system (BESS) has opened up the most critical market for batteries alongside strengthening the role of renewable in any country’s power generation mix. The enormous capacity addition targets in practically all the countries of Asia will certainly need more BESSs as more such renewable power generators will be needed to integrate with the electric grid.
Large-scale BESSs are anticipated to replace most present-day rotation reserves in the shape of diesel or gas generator units by 2022, and by 2025-end the energy storage systems for utility applications will be battery-based. Frequency response will likely grab the lion’s share of applications of BESSs regarding storage capacity over the forecast period. Renewable energy integration and frequency regulation on the electrical grid are the two key areas of applications of BESSs are projected to capture over three-fourth of the market, leaving the remaining portion for residential, off-grid electricity and EVs.
South Korea, Japan, China and Taiwan have become home to a number of major battery producers, with some of them being amongst the top 10 battery making firms worldwide. Asia’s battery energy storage system sector is expected to share the biggest segment. To date, the entry of overseas battery suppliers is rather hard in Japan, South Korea or China owing to limited size and presence of a big number of local suppliers. But as the marketplace is projected to expand considerably, more overseas investments are poised to flow in Asia.
New report “Asia Battery Energy Storage Market Opportunity Analysis” elaborated by Kuick Research provides deep, unbiased insights into the battery energy storage market performance in Asia.
It gives an overview of battery energy storage system, descries the various technological aspects of battery in energy storage systems, battery energy storage applications. The study analyses the battery storage market based on country, covering current market scenario, recent trends and future outlook. It gives an all-round review of the commercial challenges and key issues to be resolved, and discusses the favourable market parameters. Furthermore, the report scrutinises the competitive scenario within the industry and provides in-depth information on the leading market players.
Companies discussed are: Kokam Co. Ltd., BYD, China Aviation Lithium Battery (CALB), LG Chem, Panasonic and NGK Insulators.
Other new market reports by Kuick Research are offered at this page.