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Rapid advances in Energy Storage Market for Microgrids 2017-2021

Press Release   •   Aug 11, 2017 08:49 EDT

About Energy Storage for Microgrids

A microgrid is a small group of power generation assets and energy storage equipment, generating power independently in order to meet local energy needs. A microgrid has the capability to island itself and is connected to the main grid at a single point. An energy storage system is a technology used to store the surplus power that can be supplied later when required. Energy storage systems play a diverse role in microgrids. When renewables are used in the microgrid they serve as a voltage source, smoothing the intermittent power flow. For utilities, it helps in peak hour shaving, volt ampere reactive (VAR) services, and black start.

Technavios analysts forecast the global energy storage market for microgrids to grow at a CAGR of 16.72% during the period 2017-2021.

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Covered in this report

The report covers the present scenario and the growth prospects of the global energy storage market for microgrids for 2017-2021. To calculate the market size, the report considers new installations, it includes energy storage systems (battery and fuel cells).

The market is divided into the following segments based on geography:




Technavios report, Global Energy Storage Market for Microgrids 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors

NEC Energy Solutions

NRG Energy


Samsung SDI

UniEnergy Technologies

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Other prominent vendors

A123 Systems



Adara Power




East Penn Manufacturing Company

Enphase Energy

e-On Batteries

Exide Technologies

Fronius International


Greensmith Energy Management Systems

GS Yuasa International

HOPPECKE Batterien


KOSTAL Solar Electric

KYOCERA Corporation

LG Chem


Neovoltaic Energy Nantong


Primus Power

Princeton Power Systems



SENEC (Deutsche Energieversorgung)


SMA Solar Technology


Sony Energy Devices Corporation


The AES Corporation

Trojan Battery Company


ViZn Energy Systems


ZEN Energy

Market driver

Increasing government support

For a full, detailed list, view our report

Market challenge

High exit and standby costs

For a full, detailed list, view our report

Market trend

Rapid advances in technology

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Key questions answered in this report

What will the market size be in 2021 and what will the growth rate be?

What are the key market trends?

What is driving this market?

What are the challenges to market growth?

Who are the key vendors in this market space?

You can request one free hour of our analysts time when you purchase this market report. Details are provided within the report.

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