Find out the Mobile Energy Storage Systems Market Reach & Analysis by 2029

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Mobile Energy Storage Systems Market: Overview

• Mobile energy storage systems enable a modular, smarter, and more resilient grid infrastructure through peak demand management. In mobile energy storage systems, increased integration of renewable energy is possible.
• Mobile energy systems are modular, robust,  flexible, reliable, and cost-effective electric capacity resources that help in providing a broad spectrum of electricity-related services
• Mobile energy storage systems are able to provide additional electricity generation during peak shifting. They can also support grid networks at a short notice, for any period of time or seasonally if required.
• Traditionally, mobile energy storage systems are designed with robust electric connections, at a single location, mounted on a container that includes a single grounding connection point and a connection typically provided for an external generator so as to support off-grid applications

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Key Drivers of Global Mobile Energy Storage Systems Market

• Key drivers of the global market for mobile energy storage systems include increasing usage of smart grid services, aging electricity grid infrastructure, and increasing requirement for digitization of the power sector
• Moreover, developing economies need to offer reliable access to electricity in remote areas. The traditional centralized grids are not capable to provide cost-effective basic electricity supply to underserved areas in a reasonable amount of time. Remote and distributed power systems have potential to supply electricity across the world. Hence, deployment of more mobile energy storage systems is likely to boost the market in developing economies across the world during the forecast period.
• Growing concerns about emissions of CO₂ and greenhouse gases across the world have shifted substantial investments toward the renewable energy generation. Mobile energy storage systems are largely used for storage of renewable energy. Thus, technological shift toward renewable electricity generation is estimated to promote growth of the global market for mobile energy storage systems during the forecast period.
• Rising awareness about energy conservation is also estimated to boost the global mobile energy storage systems market during the forecast period

Restraints of Global Mobile Energy Storage Systems Market

• Lack of awareness among developing economies about utility of mobile energy storage systems to reduce energy costs is a key restraint of the global market. Most companies are not fully aware of the costing structure as well as benefits of mobile energy storage systems.
• Financing for initial cost is another challenge, as vendors are unable to provide upfront costs and equity leasing firms are reluctant to enter the marketplace

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Major Developments in Mobile Energy Storage Systems Market

• In February 2020, GreenChoice, a Netherlands-based renewable energy retailer, announced its partnership with a Germany-based engineering startup called Greener Engineering for transforming containerized energy storage systems into mobile power sources. As per the partnership, ten mobile systems with a total capacity of 3,360 kWh form the latest project. These systems would be charged by GreenChoice’s wind farms. These mobile batteries can be charged in 43 minutes and they can be ‘wheeled’ to customers that need a mobile or emergency power source.
• In July 2015, Northern Reliability Inc., a U.S.-based integrator of energy storage systems, was selected by Renewable NRG Systems (RNRG), a manufacturer and designer of decision support tools for the global renewable energy industry, for supply of mobile energy storage systems that deliver reliable power for remote sensing wind measurement devices.

Asia Pacific to Hold a Major Share of Global Mobile Energy Storage Systems Market

• Based on region, the global mobile energy storage systems can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
• Asia Pacific is expected to dominate the global mobile energy storage systems market between 2019 and 2027, due to rising investments and advancements in the renewable energy sector in the region, especially in developing economies such as China and India. An article published by the United Nations Environment Program on total renewable energy investments in 2018 states that China leads the global investment in renewable energy (US$ 91.2 Bn) and that investments in the country are anticipated to increase further, with a larger number of renewable energy projects planned during the forecast period.
• The mobile energy storage systems market in Europe is expected to expand rapidly during the forecast period, owing to use of a remarkable number of hybrid electric vehicles (HEVs) and electric vehicles (EVs) in the region. The total investment in the renewable energy sector in the region was valued at US$ 61.2 Bn in 2018.
• North America is likely to hold a considerable share of the global mobile energy storage systems market from 2020 to 2030, owing to high electricity consumption, stringent federal policy directives and regulations concerning greenhouse gas emissions, rising energy costs, and increasing awareness about benefits of mobile energy storage systems in the region.

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