Latest Developments:
Australia Energy Storage Systems Market has witnessed the latest developments such as increased availability of renewable energy resources and advanced storage solutions. Additionally, increment of energy storage capacity and front-to-the-meter capacity, usage of lithium-ion batteries in solar panels, development of Storage-as-a-service (ESaaS) sources, electrochemical storage solutions, conversion of electricity by electrolysis into hydrogen, and building large-scale reservoirs for energy storage are some of the recent developments driving the market.
Mergers and Acquisitions:
- In September 2019, EnerSys acquired North Star to bring new innovations to its existing operations.
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Previous Release:
Rising electricity prices, falling battery costs, and a nationwide shift towards renewable energy dependence would be major factors responsible for the growth of the energy storage systems market in Australia. The Australian Government's Renewable Energy Target scheme and the Next Generation Renewables Program are also expected to drive the growth of Australia energy storage systems market forecast period revenues.
According to 6Wresearch, the Australia energy storage systems market size is projected to grow at a CAGR of 30.1% during 2017-23. The Government of Australia has its Renewable Energy Target (RET) scheme in place, the aim of which is to increase the energy dependence of the country on renewable sources by setting up multiple renewable energy power projects all across the nation. The energy storage system market in Australia is dominated largely by electrochemical energy storage solutions and this trend is expected to continue in the coming years. According to the Australian Renewable Energy Agency, the price of Lithium-Ion batteries is expected to fall by almost 60% by 2020 and is predicted to emerge as the leader in terms of market revenue share in the forecast period.
The state of New South Wales captured the largest Australia energy storage systems market share in 2016. During 2017-23, the states of New South Wales, Queensland, and Victoria are expected to be the leaders in market revenue share terms due to a number of power utility and storage products under construction or announced for these regions.
The Australia energy storage systems market report comprehensively covers the Australian Energy Storage Systems Market by technologies, verticals, and regions. The Australia energy storage systems market outlook report gives an unbiased and detailed analysis of the Australia energy storage systems market trends, opportunities, and market drivers that would help stakeholders to design and align their market strategies according to the current and future market dynamics.
Key Highlights of the Report:
• Australia Energy Storage Systems Market Overview
• Australia Energy Storage Systems Market Outlook
• Historical Data of Global Energy Storage Systems Market Revenues for the Period 2014-2016.
• Market Size & Forecast of Global Energy Storage Systems Market Revenues until 2023.
• Historical Data of Australia Energy Storage Systems Market Revenues for the Period 2014-2016.
• Australia Energy Storage Systems Market Size & Australia Energy Storage Systems Market Forecast of Revenues, until 2023.
• Historical Data of Australia Energy Storage Systems Market Revenues for the Period 2014-2016, By Technology.
• Market Size & Forecast of Australia Energy Storage Systems Market Revenues until 2023, By Technology.
• Historical Data of Australia Energy Storage Systems Market Revenues for the Period 2014-2016, By Verticals.
• Market Size & Forecast of Australia Energy Storage Systems Market Revenues until 2023, By Verticals.
• Historical & Forecast Data of Australia Energy Storage Systems Regional Market Revenues for the Period 2014-2023.
• Australia Energy Storage Systems Market Drivers and Restraints.
• Australia Energy Storage Systems Market Trends and Developments.
• Australia Energy Storage Systems Market Share, by Players
• Australia Energy Storage Systems Market Overview on Competitive Landscape.
• Company Profiles.
• Strategic Pointers.
Markets Covered
The Australia Energy Storage Systems Market report provides a detailed analysis of the following market segments:
• By Technologies:
o Electrochemical
? Lithium-Ion
?Lead Acid
?Flow Battery & Others
o Mechanical (Flywheel)
o Thermal (Molten Salt)
o Others
• By Applications:
o Residential
o Commercial & Industrial
o Power Utilities
o Transportation
• By Regions:
o New South Wales
o Victoria
o Queensland
o South Australia
o Western Australia
o Tasmania
o Northern Territory
1 Executive Summary
