ESS Sales Performance:

• In 2022, Korean companies (SDI and LGES) held over 50% combined market shares globally until 2020.
• Chinese companies, especially CATL, entered the market with low-priced LFP battery products, making LFP the mainstream, even in North America from 2021.

Chinese ESS Market Dynamics:

• In China, the 14th Five-Year Plan mandates ESS installation equivalent to 10% of renewable energy development capacity.
• Provincial and municipal authorities extend subsidies, leading to significant growth in Chinese ESS market performance in 2022.

Key Players and Market Share:

• Key Li-ion Battery for ESS players: CATL, BYD, EVE, LG Energy Solution, Samsung SDI, REPT, etc.
• Top 3 companies hold a combined market share of about 52.88%.

Market Size and Growth:

• The global Li-ion Battery for ESS market was valued at US$ 19,858.77 million in 2022.
• Expected to reach US$ 90,051.15 million by the end of 2029.
• CAGR of 17.0% between 2023 and 2029.

Industry Landscape and Market Concentration:

• Key global players include CATL, BYD, EVE, LG Energy Solution, Samsung SDI, REPT, etc.
• Market concentration: Top five manufacturers held 67.86% of the market's revenue in 2022.

Global Export Quantity and Manufacturing:

• China dominates global export quantity and manufacturing in the Li-ion Battery for ESS market.
• Global leading companies have production bases in China.

Demand and Growth Factors:

• Growing worldwide demand for Li-ion Battery for ESS, particularly in high-quality LFP batteries above 280Ah.
• Steady growth expected, with a close watch on factors like distribution delays and rising raw material costs.

Segmentation:

• Cathode material types: NCx and LFP, with LFP accounting for about 87.09% of total sales volume in 2022.
• Applications: Power Grid with the largest share at 75.74%.

Market Growth Rate:

• Market growth rate (by volume) expected to exceed 84.4% in 2023.

Regional Analysis:

• Regions include North America, Europe, China, APeC (Asia Pacific excluding China), Middle East, Africa, and Latin America.
• China projected to be the largest market, with high demand in advanced economies like Europe and the United States.

Production Capacity and COVID-19 Impact:

• Newly built production capacity and new entrants impacted by long certification cycles and low yield rates.
• COVID-19 affected small manufacturers, leading to increased market share for large manufacturers.

Production and Sales Side Focus:

• Research on Li-ion Battery for ESS capacity, production, growth rate, market share, and forecast from 2018 to 2029.
• Sales focus on regions, companies, types, and applications from 2018 to 2029.

Comprehensive Market Assessment:

• Thorough assessment of the global Li-ion Battery for ESS market, including market dynamics, competition, regional growth, segmental analysis, and key growth strategies.
• Access to verified market figures, production analysis, and reliable estimations for revenue and volume

Scope and Market Size

Li-ion Battery for Energy Storage Systems (ESS) market is segmented in regional and country level, by players, by Type, and by Application. Companies, stakeholders, and other participants in the global Li-ion Battery for Energy Storage Systems (ESS) market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on sales, revenue and forecast by Colors and by Application for the period 2018-2029.

By Company

• CATL
• BYD
• EVE
• LG Energy Solution
• Samsung SDI
• REPT
• Great Power
• Gotion High-tech
• Hithium
• Ganfeng
• CALB
• Envision AESC
• Poweramp
• Pylon Technologies
• Lishen
• Saft
• Kokam
• Panasonic

Segment by Type

• NCx
• LFP

Segment by Application

• Power Grid
• CI
• Residential
• Telecommunication UPS
• Portable Energy Storage

Segment by Region

• North America
  • U.S.
  • Canada
  • Mexico

• China

• APeC (Asia Pacific excluding China)
  • Japan
  • South Korea
  • Australia
  • Other APeC

• Europe
  • United Kingdom
  • Germany
  • Italy
  • France
  • Finland
  • Netherlands
  • Spain
  • Poland
  • Other Europe

key factors driving growth in the lithium-ion battery market for energy storage systems (ESS):

Falling Li-ion prices: Prices have fallen nearly 90% in the last decade, improving the value proposition of Li-ion based ESS. Continued scale benefits and technology improvements will further reduce prices.

Renewables expansion: Growth in solar and wind power requires large scale ESS to mitigate intermittency issues and provide grid stabilization. Li-ion offers fast response and cycle life vital for renewable integration.

Supportive policies: Government subsidies and mandates around renewable energy adoption, emissions reduction etc. are propelling adoption of utility scale ESS like Li-ion batteries to modernize electricity grids.

Electrification peak shaving: Li-ion based ESS can facilitate electrification of transport, rapid EV charging infrastructure as well as provide peak power supply cushioning. This helps defer TD upgrades.

Technology innovations: Advances like cobalt free cathodes, silicon composite anodes, solid state designs etc. are improving energy density, lifespan, safety and performance to expand applications.

Energy arbitrage economics: ESS enables time shifting of renewable energy to higher pricing periods. Declining Li-ion costs makes the payback on such energy arbitrage models more favorable.

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