The market for mobile energy storage systems will grow rapidly;

Pune, India, March 04, 2022 (GLOBE NEWSWIRE) — The Mobile Energy Storage Systems Market the size is expected to increase due to the increase in global energy and electricity consumption. Fortune Business InsightsMT presented this information in its upcoming report titled “Mobile Energy Storage System Market, 2022-2029”. Additionally, a mobile energy storage system is a self-contained unit that uses renewable energy to provide backup power in high-demand regions. It is modular and can be connected to the electrical network. They generate electricity for grid and off-grid uses.

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Main market players:

  • Edison Energy
  • Greener
  • RES
  • LG Chemistry
  • panasonic
  • NEC Energy Solutions
  • NRG Energy
  • Amperex Technology Limited (ATL)
  • Boston Power
  • China Aviation Lithium Battery Co. Ltd
  • Greenchoice
  • GE Renewable Energy
  • Aquion Inc.
  • in back
  • Delta Electronics

Impact of COVID-19 –

The COVID-19 pandemic has affected nearly every industry in the world, including the mobile energy storage system industry. Owing to major disruptions in the global businesses and economy, the forecasted growth of many market application sectors is expected to drop due to COVID-19 which restricts the supply of batteries and other components as well as their adoption. The energy industry supply chain, including renewable energy technologies and battery energy storage systems, has been disrupted by the current scenario.

In addition, strict government mandates and policies such as social distancing and reducing staff by a certain percentage in workplaces disrupted the manufacturing and supply chain, which ultimately had a negative impact on industry.

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Competitive Landscape-

Main players to invest in research and development activities

To strengthen their offerings in the sector, key market players such as Greener, Edison Energy, RES and others are extensively using organic growth tactics such as collaborations, new product launches, agreements and contracts.

Industry developments

March 2021: Nomad Transportable Power Systems (NOMAD) is a joint venture between Northern Reliability Inc. (NRI) and KORE Power to provide renewable energy-based transportable energy storage systems to various companies in the United States.

Drivers and Constraints –

Growing environmental concerns to drive the market

Industrialization and urbanization have led to a substantial increase in the need for reliable energy sources. The increased use of electronic and electrical devices in rural and urban areas is increasing the need for electricity. The current power grid infrastructure is outdated and requires digitization and technical advancements. Additionally, the global market share of mobile energy storage systems is expected to be driven by increasing environmental issues and drive to minimize carbon footprints over the projection period.

The main commercial limitation of mobile energy storage systems is their high initial cost. Additionally, the growth of the mobile energy storage system industry is hampered by a lack of understanding of the benefits of mobile energy storage devices in emerging countries.

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Regional outlook –

Asia-Pacific will dominate the market through increased industrialization

Due to increasing urbanization and industrialization in developing countries such as China and India, the Asia-Pacific region accounted for the largest share of the global market. In addition, the increasing expansion of renewable energy is another growth factor in the region.

With the growing adoption of renewable energy to meet industrial electricity demand, North America is the fastest growing region for the global mobile energy storage system market. The North American industry is also experiencing rapid expansion as government laws to monitor the carbon footprints of industries in Canada and the United States become stricter.

Finally, due to growing environmental concerns in the region, Europe, the Middle East and Africa are also expected to increase.

Segmentation –

Based on product, the mobile energy storage system industry is divided into sodium-based batteries, lithium-ion batteries, lead-acid batteries and others. Based on application, the market is bifurcated into commercial, industrial, commercial, and others. Geographically, the market is categorized into Asia-Pacific, Europe, North America, Latin America, Middle East & Africa.

Report cover –

The report provides data on the Mobile Energy Storage System industry from all its aspects. The report determines the size and growth potential of the market across several sectors, such as application and region. It also offers insights into the impact of COVID-19, an analysis of major market players including company profiles, important observations regarding product and company offerings, recent advancements and marketing strategies. key markets to meet growing market demand during the current pandemic.

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