Saudi Arabia Stationary Energy Storage Market

Energy storage is a storage device that is designed for accepting electrical energy from the grid and then converting it into that energy form which is suitable for storage and then subsequently convert it back into electricity and, apart from any losses due to inefficiencies, return it to the grid. The stationary energy sector includes fossil fuels such as gas, coal that is used in the generation of electricity and direct production of industrial heat as well as geothermal energy. The energy storage involves certain base parameters which include energy storage capacity, power capacity, efficiency, and others.

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Expansion in the renewable energy sector along with several upcoming projects in Saudi Arabia is expected to increase the growth of the stationary energy storage market. The growing demand for increased flexibility in power system, expansion of grid followed by generation infrastructure, optimization of sources of power supply and adequate quality and reliability of power supply are the factors propelling the growth of Saudi Arabia stationary energy storage market. Saudi Arabia is the world’s largest exporter of crude is planning to use the renewables such as solar for reducing almost 500,000 b/d of crude used for generation of power and industry-leading to an expansion in the use of renewable sources further leading to an increase in demand for the stationary energy storage in this region. The changing climatic conditions and increasing supply-demand situation is also paving the way for stationary energy storage in Saudi Arabia. For instance, SCHMID has partnered with Nusaned Investment for the development of manufacturing and technology in the field of flow batteries. This joint venture is planning to open a GW scale manufacturing facility in kingdom of Saudi Arabia and is expected to start production in 2020. The utility-scale stationary energy storage is expected to be critical for new renewable capacity with stabilized and connected reliably to the grid.

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Various notable players operating in the Saudi Arabia stationary energy storage market include, Exide Industries Limited, SCHMID Group, BYD Company Ltd., Samsung SDI, Johnson Controls, NGK Insulators Ltd, Nusaned Investment, Masdar, Toshiba Corporation, Enersys, ACDelco, among others.

The Saudi Arabia stationary energy storage market has been segmented on the basis of technology and application. Based on technology the market is segmented into Thermal Energy Storage, Pumped Hydroelectricity Storage, Flywheels Energy Storage, Batteries and Others. Based on application the market is segmented into Residential, Commercial & Industrial.

Key Market Developments

• • In May 2019, Nusaned entered into a partnership with SCHMID Group for developing new technology pertaining to Vanadium Redox Flow Batteries (VRFB). The agreement is focussed towards establishing international technology hub in the utility-scale energy storage segment.

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Key questions answered in this research report:

• • At what pace is Saudi Arabia stationary energy storage market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
  •  What are the various application areas and how they are poised to grow?

Market Segmentation

By Technology

• Thermal Energy Storage
• Pumped Hydroelectricity Storage
• Flywheels Energy Storage
• Batteries
• Others

By Application

• Residential
• Commercial & Industrial

Leading market players

• Exide Industries Limited
• SCHMID Group
• BYD Company Ltd.
• Samsung SDI
• Johnson Controls
• NGK Insulators Ltd
• Masdar
• Toshiba Corporation
• Enersys
• ACDelco
• Nusaned Investment