GCC Battery Energy Storage System Market

According to GMI Research’s latest report, the GCC battery energy storage system market is expected to grow at a robust CAGR from 2019-2026.

Energy storage systems are a set of technology or system which are used to store various forms of energy for later use. A battery energy storage system refers to a system that stores energy using battery technology. It uses the rechargeable batteries for the energy storage, which includes lead-acid batteries, lithium-ion batteries, sodium-sulfur batteries, flow batteries, among others. This system offers flexibility to the energy system. It can be used for several applications, which includes transmission & distribution infrastructure deferral, frequency regulation, demand response and integration of renewable energy among others. The various battery technologies for the energy storage system can be differentiated based on charge & discharge, energy density, eco-friendliness and lifespan of the system.

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The major factors driving the growth of GCC battery energy storage system market includes the continuous expansion in the renewable energy sector across various countries including Saudi Arabia and UAE coupled with the upcoming mega projects such as Saudi Vision 2030, UAE Energy Strategy 2050, Bahrain’ Economic Vision 2030, Vision 2021, UAE Green Growth Strategy, UAE Future Strategy and UAE Centennial Plan among others.

In addition, the declining price of lithium battery coupled with the increased usage of lithium-ion in major renewable energy projects are the other important factors fuelling the growth of the market.

In 2019, the Renewable Energy Project Development Office (Repdo) in Saudi Arabia outlined plans to develop 58.7GW of renewable energy capacity by 2030 and also increased the clean energy target till 2023 to 27.3 GW from the previous target of 9.5 GW. In addition, In Dubai DEWA is testing a 1.2MW/7.2MWh sodium-sulfur battery energy storage system and also released an EOI for 1.12MW/8MWh lithium-ion storage solution. These upcoming mega projects projects will further propel the growth of battery energy storage system in GCC region.

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Battery element dominated the market in 2018 and is expected to grow at the highest CAGR during the forecast period owing to the maximum contribution to the overall cost of the battery energy storage system WHEN compared with hardware and other elements. The declining cost of the batteries especially lithium-ion will further propel the growth of this segment during the forecast period.

Sodium-Sulfur batteries are expected to increase at the highest CAGR during the forecast period owing to the rising installation of sodium-sulfur battery energy storage plants in GCC countries. The various features of sodium sulfur battery which includes less sensitivity to external temperature conditions, high power density, long battery lifetime and high efficiency makes them ideal to be used in GCC countries.

On-Grid connection type captured the maximum share in the market in 2018 owing to the rising demand for the grid connected solutions. The battery energy storage system offers various advantages to the grid-connection solutions which includes renewable capacity firming, electric energy time shift, renewable energy time shift and peak shaving & baseload levelling.

Utilities application captured the maximum share of the market in 2018 due to high adoption of battery energy storage system in this application to address the issues of unreliability of the grid in GCC countries. The battery energy storage system controls the ramping up and down of the wind and solar generation and also smoothens the renewables output. The utility operates use this system for their resource planning process which decreases the cost of system and also increases the storage capacity. The battery energy storage offers several benefits to the electrical grid which includes frequency regulation, increased capacity, grid congestion alleviation, enhanced efficiencies of existing generators and renewable energy enablement which lead to an increase in the adoption of such system in this sector.

Third-Party Owned is anticipated to grow at the highest CAGR during the forecast period as it enables the businesses or homeowners to save the upfront cost and the hassle of maintaining and buying a renewable energy system.

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UAE is expected to dominate the battery energy storage system market in 2018 owing to the high adoption of battery energy storage system in the renewable energy projects such as Abu Dhabi 108MW / 648MWh plant, among others. The country has the highest deployed battery energy storage when compared with the other GCC countries to support its grid during the high demand hours.

Major key players in GCC battery energy storage system market include ABB, NEC Corporation, General Electric, Siemens AG, AEG Power Solutions, Abdul Latif Jameel Energy, SoleilPower and Saft among others.

Key Market Developments:

• • In 2019, Dubai Electricity and Water Authority (DEWA) and Siemens signed a Memorandum of Understanding (MoU) to cooperate in the research & development activities in the energy technologies which includes energy storage systems, smart grids along with building national capacities in the energy sector among others.
  • In 2019, Siemens opened a Digital Grid Center in Abu Dhabi, UAE for digitalizing the energy systems in the Middle-East. The digital grid center enables Siemens for providing support pertaining to customer operations.

GCC battery energy storage system market is categorized on the basis of element, battery type, connection type, end-user and ownership. Based on element, the market is segmented into battery, hardware and other elements. On the basis of battery type, the market is segmented into lithium-ion batteries, advanced lead acid batteries, sodium-sulfur batteries, flow batteries and others. Based on connection type, the market is segmented into on-grid connection and off-grid connection. Based on end-user, the market is segmented into utilities, residential, commercial & industrial and others. On the basis of ownership, the market is segmented into utility-owned, customer owned and third-party owned.

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Key questions answered in this research report:

• • At what pace is GCC battery energy storage system market growing? What will be the trend in growth in the future?
  • What are the key drivers and restraints in GCC battery energy storage system market? What will be the impact of drivers and restraints in the future?
  • What are the various battery types in the GCC battery energy storage system market, and how they are poised to grow?
  • How the penetration of lithium-ion batteries is changing and what is driving this change?
  • What are the different end-user areas of the GCC battery energy storage system in the market?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2018
Market Forecast Period	2019-2026
Market Revenues Currency	USD Million
Base Year & Forecast Units	Value (USD Million)
Market Segment	By Element, By Battery Type, By Connection Type, By End-User, By Ownership and By Country
Regional Coverage	UAE, Saudi Arabia, Bahrain, Kuwait and Rest of GCC
Companies Profiled	ABB, NEC Corporation, General Electric, Siemens AG, AEG Power Solutions, Abdul Latif Jameel Energy, SoleilPower, and Saft; a total of 9 companies covered
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation:

GCC Battery Energy Storage System Market by Element

• • Battery
  • Hardware
  • Other Elements

GCC Battery Energy Storage System Market by Battery Type

• • Lithium-Ion Batteries
  • Advanced Lead Acid Batteries
  • Sodium-Sulfur Batteries
  • Flow Batteries
  • Others

GCC Battery Energy Storage System Market by Connection Type

• • On-Grid Connection
  • Off-Grid Connection

GCC Battery Energy Storage System Market by End-User

• • Utilities
  • Residential
  • Non-Residential
  • Others

GCC Battery Energy Storage System Market by Ownership

• • Utility-Owned
  • Customer Owned
  • Third-Party Owned

GCC Battery Energy Storage System Market by Region

• • UAE Battery Energy Storage System Market All-Up (Option 1: As a part of the free 25% customization)
  • Saudi Arabia Battery Energy Storage System Market All-Up (Option 2: As a part of the free 25% Customization)
  • Bahrain Battery Energy Storage System Market All-Up(Option 3: As a part of the free 25% Customization)
  • Kuwait Battery Energy Storage System Market All-Up (Option 4: As a part of the free 25% Customization)
  • Rest of GCC Battery Energy Storage System Market All-Up(Option 5: As a part of the free 25% customization)

GCC Battery Energy Storage System Leading market players (Option 6: As a part of the free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • ABB
  • NEC Corporation
  • General Electric
  • Siemens AG
  • AEG Power Solutions
  • Abdul Latif Jameel Energy
  • SoleilPower
  • Saft