Commercial, Energy Storage, Industrial, Commercial, Industrial - March 25, 2016
C&I energy storage industry annual revenue to hit $10.8B by 2025, study finds
Annual revenue for the C&I energy storage industry is expected to grow from $968.4 million in 2016 to $10.8 billion by 2025, according to a new study from Navigant Research.
Within the C&I sector, the industrial buildings segment is expected to deploy the largest about of cumulative new capacity — an estimated 9.3 GW — over the next decade, followed by the office segment, Navigant Research analyst Alex Eller said in a March 24 news release announcing the study.
Globally, power capacity deployment of C&I energy storage systems is expected to grow from 499.4 MW in 2016 to 9.1 GW in 2025, Navigant said the report, Market Data: Commercial and Industrial Energy Storage. The report examines the global market for commercial and industrial energy storage, with a focus on advanced lead-acid, flow, and lithium ion batteries, including market forecasts for capacity and revenue, through 2025.
Despite substantial market growth and momentum in the past two years, the C&I energy storage market remains in its infancy throughout most of the world, the report found. Ongoing challenges include poor understanding and undervaluation by stakeholders; however, regulatory reforms and technological advances are expected to help bring C&I energy storage into the mainstream.
Navigant reports that landscape of vendors offering C&I energy storage systems is growing increasingly diverse and competitive, with vendors approaching the market from different angles and forming partnerships to help companies leverage their strengths. Additionally, incumbent building energy management providers are now competing with startups in the market to offer compelling solutions for various customers.
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