<2024> Global ESS Market Outlook (~2035)
On Jan 26, LG Energy Solution unveiled its forecast on the ESS market in 2024 at the Earnings Conference Call, expecting the market to see more than 30% YoY growth.
Although the ESS market has slowed down due to a series of accidents in the past, ESS is an area still expected to take up the biggest portion in the LIB market, next to electric vehicles. Battery makers in Korea are already aware of that and prepare for future developments in the ESS market. They adopt LFP cathode materials to lower the price of secondary batteries for ESS and increase the stability of batteries. In addition to that, LG Energy Solution is now trying to build a plant dedicated to produce batteries for ESS in the US. Samsung SDI and SK On are also considering to establish battery production lines for ESS.
The Global ESS Market Outlook report released this time provides market outlook and size estimates based on regional ESS policies and LIB market prices.
In addition to the ESS market forecast, the report also provides the comparison with SIBs (Sodium-ion Battery), that are expected to have price competitiveness against LFP LIB, and outlook for SIBs share in the global ESS market.
Amidst increasing concerns about how to cross the chasm phase in the EV adoption, we hope this report will help those who are looking for alternative solutions in the LIB industry and market.
Table of Contents
Ⅰ. Global ESS Market and ESS Technology Outlook
1. Global ESS Market Outlook
2. ESS Market Outlook by Technology
3. ESS Technology Pro/Con Analysis
Ⅱ. Global ESS Market Outlook by Application
1. For Grid
2. Industrial / Residential
3. For Communication / UPS
Ⅲ. Global LIB – ESS Market Outlook
1. Global LIB – ESS Demand Outlook
2. Outlook by Application
3. Outlook by Region
4. Market Share by Region
Ⅳ. LIB-ESS Market Outlook by Application
1. LIB-ESS Market for Grid
2. LIB-ESS Market for Industrial
3. LIB-ESS Market for Residential
4. LIB-ESS Market for Communication
5. LIB-ESS Market for UPS
Ⅴ. LIB-ESS Market Outlook by Country
1. N/America
2. Europe
3. China
4. Japan
5. Korea
6. Others
Ⅵ. Selling Price Outlook (Based on Battery Pack)
Ⅶ. Supply Results and Outlook by LIB Maker
1. ESS Battery Supply Results and Outlook (‘20~’35)
2. Mid/Long-term Supply Outlook by Maker (‘20~’35)
3. Supply Outlook by Battery Type (‘20~’35)
4. Supply Outlook by Battery Chemical (‘20~’35)
[Appendix] Global ESS Distribution Expansion Policy
- US
- Europe
- China
- Japan
- Korea
- India
- Australia