Mobile Energy Storage Systems Market to Reach the Value of US$ 13 Bn by 2031: TMR Study
- Rising applications in residential sector bolsters demand within the global Mobile Energy Storage Systems Market
- Increasing demand for electric vehicle charging stations augments the growth trajectory of the market
WILMINGTON, Del., Nov. 24, 2022 /PRNewswire/ -- The Global Mobile Energy Storage Systems Market is estimated to advance at a CGAR of 10.6% over 2022 to 2031. In 2021, the market was valued at US$ 4.8 Bn. Increasing demand for mobile and transportable energy solutions from construction sites based in remote locations, as well as outdoor events aids in the expansion of the Mobile Energy Storage Systems Market size. Some of the key mobile energy storage applications include industrial, commercial, and residential.
Modern and next generation mobile energy storage systems offer a resilient, reliable, and affordable method to facilitate energy in remote locations where steady connections are unavailable. They offer innumerable advantages over various stationery energy storage systems. Furthermore, rising demand for stable energy connections in cases of harsh weather conditions, such as tornadoes, hurricanes, heavy rain or snow falls, and floods, is also driving the demand for cost-effective and reliable mobile energy storage vehicle and solutions.
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Mobile Energy Storage Systems Market – Key Findings of the Report
- Growing Investments in Renewable Energy Generation Sector: The rising demand for mobile energy storage vehicles can be ascribed to the increasing investments made by public, as well as private players in the field of renewable energy generation. For example, according to the Bloomberg NEF, the total amount of investments done by players across the world in renewable energy sector is a whopping US$ 226 Bn in just first six months of 2022. This rising number of investments is anticipated to have a positive impact on the market growth.
Mobile Energy Storage Systems Market – Growth Drivers
- Surge in the demand for power throughout the world bolsters growth of the mobile energy storage market
- Increasing number of investments aimed at expanding the renewable energy sector presents worthwhile incremental opportunities in the market
- Reduction in the cost of storage batteries propels market growth.
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Mobile Energy Storage Systems Market – Key Players
Some of the leading mobile energy storage systems companies are Greener Power Solutions, Renewable Energy Systems Ltd., Socomec, Delta Electronics, Aggreko, Power Edison, Quanta Technology, Nomad Transportable Power System, Hamedata Technology, NEC Corporation, and Jauch Quartz America, Inc. Presence of a relatively smaller number of leading players and companies makes the competitive landscape of the market somewhat consolidated in nature.
Leading players in the industry are focused on adopting research and development projects in a bid to develop next-gen advanced, portable, and efficient energy storage systems and equipment. Furthermore, a considerable number of industry players and stakeholders are focused on adopting other strategies, such as mergers and acquisitions, and new product launches to attract more customers and enhance their regional footprint.
Mobile Energy Storage Systems Market: Regional Growth Assessment
Regionally, North America accounted for the largest share of the global market in 2021. The North America mobile ESS market accounted for a whopping share of 28.6% in 2021. Studies predict that this number is anticipated to rise and account for 29% of total industry share by 2031. Similarly, Asia Pacific region accounted for a share of 28.4% in 2021. However, it is projected that the region will surpass to become the leading regional market for mobile ESS, accounting for a total share of 30.5% by 2031. Compared to these two regions, Middle East and Africa, as well as Latin America regions are anticipated to register sluggish growth in the global market over the next decade. In 2021, these two regions collectively accounted for total of 18% of the global market share.
Mobile Energy Storage Systems Market: Segmentation
Mobile Energy Storage Systems Market, by Capacity
- Below 3,000 KWh
- 3,000-10,000 KWh
- Above 10,000 KWh
Mobile Energy Storage Systems Market, by Classification
- Towable Systems
Mobile Energy Storage Systems Market, by Battery Type
Mobile Energy Storage Systems Market, by System
Mobile Energy Storage Systems Market, by Application
Mobile Energy Storage Systems Market, by Region
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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