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Grid Scale Battery Storage Market Forecast 2014-2024:
Prospects for Energy Storage Technologies (EST) C...
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Grid Scale Battery Storage Market Forecast 2014-2024:
Prospects for Energy Storage Technologies ...
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Grid Scale Battery Storage Market Forecast 2014-2024:
Prospects for Energy Storage Technologies...
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Grid Scale Battery Storage Market Forecast 2014-2024:
Prospects for Energy Storage Technologies...
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Grid Scale Battery Storage Market Forecast 2014-2024:
Prospects for Energy Storage Technologies...
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Grid Scale Battery Storage Market 2014 2024

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For an Executive Summary of this report please contact ediz.ibrahim@visiongain.com (+44 (0)20 7549 9976) or refer to our website http://www.visiongain.com/Report/1227/Grid-Scale-Battery-Storage-Market-Forecast-2014-2024

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Grid Scale Battery Storage Market 2014 2024

  1. 1. ©notice This material is copyright by visiongain. It is against the law to reproduce any of this material without the prior written agreement of vision- gain. You cannot photocopy, fax, download to database or duplicate in any other way any of the material contained in this report. Each pur- chase and single copy is for personal use only. Grid Scale Battery Storage Market Forecast 2014-2024 Prospects for Energy Storage Technologies (EST) Companies
  2. 2. www.visiongain.com Grid Scale Battery Storage Market Forecast 2014-2024: Prospects for Energy Storage Technologies (EST) Companies Key areas covered in this report will enable you to: • Gain an understanding of capital expenditure on grid scale battery storage over the next 10 years, with detailed global CAPEX forecasts from 2014 to 2024. • Acquire the market shares and CAPEX forecasts for each of the five technology submarkets analysed in the report: o Lithium-ion batteries o Sodium-based batteries o Flow batteries o Advanced lead acid batteries o Other battery system technologies • Learn the individual market shares and CAPEX forecasts of the leading seven national markets for energy storage technologies, each assessed by analysing country-specific economic, political and social drivers and restraints to the market: o US o Japan o China o Italy o Germany o South Korea o United Kingdom o The analysis of the aggregated value of the rest of the world market o The market outlook for Australia, Canada, France, Spain and the Middle East and Africa • Receive forecasts and analysis underpinned by extensive expert consultation. Transcripts of 4 original interviews are included within the report with expert insight from: o Roger Lin, Director of Product Marketing at A123 Systems; o Ted Wiley, Vice President – Product & Corporate Strategy at Aquion Energy; o John Wood, Chief Executive Officer at Ecoult; o Mio Nakatsuji-Mather, System Integrator Engineer at RedFlow Ltd. • Gain insight into the energy storage technologies market via 98 tables, charts, figures and graphs detailing and quantifying the market in detail over the period 2014-2024. • Learn which markets present investors with the highest and lowest barriers to entry. • Gain knowledge of who the leading players are within the grid scale battery storage industry, with 2013 CAPEX and market shares, together with analysis, for the 5 leading companies in the market. Profiles of 23 other major market players are also included. • Receive a PEST analysis identifying the political, economic, sociological and technological factors affecting CAPEX on grid scale battery storage from 2014 onwards. • Evaluate the intertwined effects of political, social and economic factors that will determine the market dynamics of the grid scale battery storage sector in the next decade.
  3. 3. Page 72www.visiongain.com Grid Scale Battery Storage Market Forecast 2014-2024: Prospects for Energy Storage Technologies (EST) Companies 4.5 Other Battery Storage Technologies Market Forecast 2014-2024 Table 4.10 and Figures 4.15 and 4.16 display the CAPEX forecast on other GSB over the upcoming 10 years. This forecast is worldwide and the market share given shows the percentage of the global market that other GSB technologies possess versus the submarkets analysed in Chapters 4.1, 4.2, 4.3 and 4.4. 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2014-24 CAPEX ($m) 15 17 20 26 31 42 66 96 152 223 342 463 1,479 AGR (%) 17.8 18.6 29.4 16.3 37.5 56.4 45.5 58.3 46.7 53.4 35.4 2019-24 47.6 39.0 30.9CAGR (%) 2014-19 CAGR (%) 2014-24 0 10 20 30 40 50 60 70 0 50 100 150 200 250 300 350 400 450 500 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 AGR(%) CAPEX($m) Year Market value AGR % Source: Visiongain 2014 Table 4.10 Other Battery Storage Technologies Market Forecast by National Market 2014-2024 ($m, AGR %, Cumulative) Source: Visiongain 2014 Figure 4.15 Other Battery Storage Technologies Market Forecast by National Market 2014-2024 ($m, AGR %)
  4. 4. Page 109www.visiongain.com Grid Scale Battery Storage Market Forecast 2014-2024: Prospects for Energy Storage Technologies (EST) Companies 5.8 The South Korean Grid Scale Battery Storage Market Forecasts 2014-2024 Table 5.12, Figure 5.20 and Figure 5.21 show visiongain’s forecast for the South Korean GSB market over the next 10 years. 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2014-24 CAPEX ($m) 30 30 35 38 43 51 77 123 193 360 433 592 1,974 AGR (%) 1.0 15.6 9.8 12.3 18.4 50.8 60.6 56.9 86.5 20.3 36.7 2019-24 50.5 34.7 20.5CAGR (%) 2014-19 CAGR (%) 2014-24 0 10 20 30 40 50 60 70 80 90 100 0 100 200 300 400 500 600 700 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 AGR(%) CAPEX($m) Year Market value AGR % Source: Visiongain 2014 Source: Visiongain 2014 Table 5.12 South Korean Grid Scale Battery Storage Market Forecast 2014-2024 ($m, AGR %, CAGR %, Cumulative) Figure 5.20 South Korean Grid Scale Battery Storage Market Forecast 2014-2024 ($m, AGR %)
  5. 5. Page 124www.visiongain.com Grid Scale Battery Storage Market Forecast 2014-2024: Prospects for Energy Storage Technologies (EST) Companies 7. Expert Opinion 7.1 A123 Energy Solutions A123 Energy Solutions is an operating unit of A123 Systems. Founded in 2001, A123's proprietary Li-ion nanophosphate technology is built on novel nanoscale materials initially developed at the Massachusetts Institute of Technology (MIT). A123 leverages more than 1 million square feet of manufacturing facilities in Asia, Europe and North America to mass-produce advanced battery cells and systems to meet increasing global demand. A123 Energy Solution is headquartered in Westborough, Massachusetts, US, and was acquired by the Chinese company Wanxiang Group in January 2013 after filing for bankruptcy in October 2012. Roger Lin is Director of Product Marketing at A123 Systems since March 2010, after joining the company as Product Manager in 2005. Before that, Mr Lin worked for six years as Research Engineer at Saint-Gobain and for two years as Analyst at YankeeTek Ventures. He graduated with a BSc in Engineering, Ceramic from Rutgers University and holds a MEng in Materials Science and Engineering from the Massachusetts Institute of Technology (MIT). Visiongain interviewed Mr Lin in February 2014 and would like to thank him for his invaluable comments. 7.1.1 The Role of A123 Energy Solutions in the Grid Scale Battery Storage Market Visiongain: Can you describe the role of A123 Energy Solutions in the GSB storage market? Roger Lin: A123 Energy Solutions is an independent operating unit of A123 Systems and is one of the world leaders in Li-ion energy storage on the grid. We have between 110 MW and 120 MW of installed grid scale battery capacity as of today and deployed our lithium iron phosphate (LFP) battery systems in almost every continent in the world in at least two dozen different project locations. Our oldest project dates back to 2008 and has been running in commercial service since then. We installed one of the largest battery systems in the world, a 32 MW system in West Virginia performing renewable integration and frequency regulation and we also have a whole host of different battery systems performing services in pilots for utility companies, in the northern part of the UK. In January 2014 we announced our most recent installation, a 1 MW-3 MWh system near Seville, Spain. A123 Energy is also very active in helping the industry understand why energy storage is important and how to make safe and reliable battery systems. The industry witnessed some accidents in the past and we aim to assist the industry to avoid these types of accidents in the future: this is one of the main things on which we are focusing this year. Operators looking at
  6. 6. Page 146www.visiongain.com Grid Scale Battery Storage Market Forecast 2014-2024: Prospects for Energy Storage Technologies (EST) Companies 8.1 NGK Insulators Ltd NGK Insulators Ltd 2013 CAPEX on Projects $65m Global Grid Scale Battery Storage Market Share 16.4% Estimated Total Company Revenue JPY 305.0bn ($3.0bn) (Forecast – FY 2013 ending on March 31 st 2014) Headquarters Nagoya, Japan Ticker 5333:TYO IR Contact pr-office@ngk.co.jp Website www.ngk.co.jp NGK Insulators was the largest grid scale battery storage company in 2013, with projects for an aggregated annual CAPEX of $65m or 16.4% of global CAPEX on GSB for the year, according to visiongain’s calculations. NGK Insulators is a multinational company that was founded in Japan in 1919 to produce insulating metals. It has now over 50 subsidiaries covering three core areas: power, ceramics and electronics. One segment of the power division is the company’s provision of NaS batteries, designed specifically for grid scale battery systems. NGK Insulators jointly developed the NaS battery technology in co-operation with Japan’s largest utility company, Tokyo Electrical Power Company (TEPCO), producing battery modules with capacities that could range from 10 MW to 100 MW. In other words, the NaS module was specifically designed for large grid scale applications, partly due to its high operating temperatures. Today, the company can count on more than 300 MW deployed around the world, 190 MW of which are based in its Japanese home market. NGK Insulators’ batteries use a solid beta aluminium oxide electrolyte, making them more reliable and efficient when the operating stability of the equipment is taking into account. However, the company suffered a major set-back in September 2011, when a fire incident occurred at a NaS battery installation at Mitsubishi Materials’ Tsukuba plant in Joso City, Japan, leading to intense media focus on the safety of NGK Insulators’ batteries. The Nagoya-based company issued an Table 8.2 NGK Insulators Ltd Overview 2013 (Total Revenue, CAPEX on Its Projects, Global CAPEX Share %, Total Company Revenues, HQ, Ticker, IR Contact, Website) Source: Visiongain 2014

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