LYON, France – The total annual demand in GWh for lithium-ion battery packs for residential, industrial & commercial, and utility-scale BESS will grow from 35.7 GWh in 2022 to around 283.8 GWh by 2028: about an 8-fold increase, announces Yole Intelligence’s analysts.
Demand will be driven mainly by utility-scale BESS applications, which will require a battery capacity of 258 GWh, representing 90 % of the total market in GWh by 2028. Residential BESS applications will follow with 5.5%, followed by industrial & commercial BESS applications.
In this dynamic context, Yole Intelligence has developed a dedicated technology & market report to provide market metrics and forecasts for battery packs for BESS for residential, industrial, and utility-scale applications. In its new Battery Pack for Energy Storage System 2023 report, the company, part of Yole Group, demonstrates the strong, consistently-growing potential for battery pack players. It illustrates the battery pack supply chain landscape and discusses market opportunities for players that supply materials, devices, or technology solutions to the lithium-ion battery pack industry. It provides insight into different technologies currently used in battery packs, their components, and related technology trends and includes different approaches to recycling end-of-life batteries.
Shalu Agarwal, Ph.D., Senior Analyst specializing in Power Electronics & Batteries at Yole Intelligence, Part of Yole Group, asserts: “The total annual market for lithium-ion battery packs (for residential, industrial & commercial, and utility-scale) BESS will grow from around 8.2 billion dollars in 2022 to about 40 billion dollars, with a 30.2% CAGR between 2022 and 2028.”…
To read the full story, please click: Battery packs for energy storage: towards higher energy capacity, reduced cost, and security More about Yole Group
