Annual Revenue for the Commercial and Industrial Energy Storage Industry is Expected to Reach $10.8 Billion by 2025, According to Navigant Research
Barriers to further growth in the commercial and industrial energy storage market include poor understanding, undervaluation by stakeholders, report finds
BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research examines the global market for commercial and industrial (C&I) energy storage, with a focus on advanced lead-acid, flow, and lithium ion (Li-ion) batteries, including market forecasts for capacity and revenue, through 2025.
"The industrial building segment is expected to be the largest, deploying an estimated 9.3 GW of cumulative new capacity over the coming decade, followed by the office and education building segments."
The landscape of vendors offering C&I energy storage systems (ESSs) is growing increasingly diverse and competitive, with vendors approaching the market from different angles and forming partnerships to help companies leverage their strengths. Incumbent building energy management providers are also competing with startups in this market to offer compelling solutions for various customers. Click to tweet: According to a new report from @NavigantRSRCH, annual revenue for the C&I energy storage industry is expected to grow from $968.4 million in 2016 to $10.8 billion by 2025.
"Despite early challenges, global C&I ESS power capacity deployments are expected to grow from 499.4 MW in 2016 to 9.1 GW in 2025," says Alex Eller, research analyst with Navigant Research. "The industrial building segment is expected to be the largest, deploying an estimated 9.3 GW of cumulative new capacity over the coming decade, followed by the office and education building segments."
Despite substantial market growth and momentum in the past two years, the C&I energy storage market remains in its infancy throughout most of the world, according to the report. Ongoing challenges include poor understanding and undervaluation by stakeholders; however, regulatory reforms and technological advances are expected to help bring C&I energy storage into the mainstream.
The report, Market Data: Commercial & Industrial Energy Storage, analyzes the global market for C&I energy storage, with a focus on advanced lead-acid, flow, and lithium ion (Li-ion) batteries. The study provides an overview of the market developments, technology trends, and business models that are converging to drive significant growth in this space during the next 10 years. A particular emphasis is placed on the energy storage issues that vendors must consider for the nine unique building types covered in this report. Global market forecasts for capacity and revenue, segmented by building type, technology, and region, extend through 2025. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant's professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant's practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.