Asia Pacific Region Expected to Hold 43.2% of Energy Storage PCS Power Conversion Systems Cumulative Global Market Through 2027
July 17 2018 - 5:15AM
Business Wire
Improvements in PCS technology are being driven by leading
markets for distributed energy resources
A new report from Navigant Research examines global market
forecasts for energy storage power conversion systems (PCS) pricing
and annual market size, broken out by segment, component, and
region, extending through 2027.
As the global energy storage industry continues to grow and
innovate, PCS are emerging as a key technology to facilitate
widespread grid integration. This is especially represented in the
Asia Pacific region, which is home to the largest and fastest
growing markets for energy storage. Click to tweet: According to a
new report from @NavigantRSRCH, Asia Pacific region is expected to
hold 43.2% of the PCS cumulative global market through 2027.
“Although Asia Pacific is expected to control a large global
share of the PCS market, North America and Western Europe will also
see a high total capacity for new energy storage and large market
for PCS revenue,” says Alex Eller, senior research analyst with
Navigant. “In addition, a much greater portion of Western Europe’s
energy storage capacity is expected to come from distributed
systems with higher price points.”
According to the report, leading markets for distributed energy
resources (DER) are a large driver of improvements to PCS
technology, where regulation is moving to require smart inverters
for DER in general. While many PCS are being implemented by
companies around the world, several new technological innovations
have been introduced to the industry, including smart islanding,
backup power, lower costs based on modern materials and designs,
and automated backup support.
This Navigant Research report, Innovations in Power Conversion
Technology for Grid Storage, explores
the market landscape for energy storage PCS and the innovations in
technology that will enable the new wave of industry growth. The
study provides an analysis of the key market and technology issues
and outlines the four segments of the energy storage market:
utility-scale, behind-the-meter (BTM) commercial and industrial
(C&I), BTM residential, and remote/off-grid. Global market
forecasts for PCS pricing and annual market size, broken out by
segment, component, and region, extend through 2027. The report
also examines the major advances in technology related to energy
storage PCSs and inverters, as well as the competitive landscape.
An Executive Summary of the report is available for free download
on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant,
provides market research and benchmarking services for rapidly
changing and often highly regulated industries. In the energy
sector, Navigant Research focuses on in-depth analysis and
reporting about global clean technology markets. The team’s
research methodology combines supply-side industry analysis,
end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of
the Energy Technologies, Utility Transformations, Transportation
Efficiencies, and Buildings Innovations sectors. Additional
information about Navigant Research can be found at
www.navigantresearch.com.
About Navigant
Navigant Consulting, Inc. is a specialized, global professional
services firm that helps clients take control of their future.
Navigant’s professionals apply deep industry knowledge, substantive
technical expertise, and an enterprising approach to help clients
build, manage and/or protect their business interests. With a focus
on markets and clients facing transformational change and
significant regulatory or legal pressures, the Firm primarily
serves clients in the healthcare, energy and financial services
industries. Across a range of advisory, consulting, outsourcing,
and technology/analytics services, Navigant’s practitioners bring
sharp insight that pinpoints opportunities and delivers powerful
results. More information about Navigant can be found at
navigant.com.
* The information contained in this press release concerning the
report, Innovations in Power Conversion Technology for Grid
Storage, is a summary and reflects Navigant Research’s current
expectations based on market data and trend analysis. Market
predictions and expectations are inherently uncertain and actual
results may differ materially from those contained in this press
release or the report. Please refer to the full report for a
complete understanding of the assumptions underlying the report’s
conclusions and the methodologies used to create the report.
Neither Navigant Research nor Navigant undertakes any obligation to
update any of the information contained in this press release or
the report.
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Navigant ResearchStefanie Bradtner,
+49-221-270-70-142stefanie.bradtner@navigant.com