일본의 첨단 에너지 저장 시스템 시장 평가 : 기술별, 용도별, 지역별, 기회, 예측(2018년도-2032년도)

Japan advanced energy storage systems market is projected to witness a CAGR of 7.60% during the forecast period FY2025- FY2032F, growing from USD 2.95 billion in FY2024 to USD 5.31 billion in FY2032. The market has experienced significant growth in recent years due to a rising shift towards green energy and advancements in battery technology. The innovative technological trend is anticipated to continue, sustaining a robust pace of market expansion in the years ahead.

Multiple factors contribute to the market growth such as supportive government policies, incentives, technological advancements, and a push towards lowering the carbon footprint in the country. In addition, the rising focus on grid resilience during natural disasters and the boost in electric vehicle adoption rate, which necessitates robust investment in the charging infrastructure, drive the demand for advanced energy storage systems in the market. Japan aims to increase renewable energy share in the electricity mix, which drives the need for effective energy storage solutions. Advanced energy storage systems enable the integration of intermittent energy sources and store the excess energy generated, which could be utilized to provide power for different applications.

Furthermore, government policies and financial incentives bolster the demand for the system. The initiatives promoting renewable energy adoption also provide subsidies for deploying battery storage systems, which drive the country's advanced energy storage systems market. The aforementioned factors position advanced energy storage systems as vital in Japan's transition towards a sustainable energy future. Additionally, technological advancements in battery performance and the system's cost-effectiveness advantage further create opportunities for future market growth.

For instance, in September 2024, the Tokyo Metropolitan Energy Storage Plant came into full operation after an investment of more than USD 55 million from private institutional investors under the Limited Partnership (LP) in association with the release entitled "Establishment of a Fund Exclusively for Utility-Scale Energy Storage for the First Time in Japan" to accelerate market growth. This will speed up the progress towards the Tokyo Metropolitan Government's HTT initiative for Herasu (saving), Tsukuru (generation), and Tameru (storage) of electric power and to realize a ZeroEmission Tokyo.

Rise in Demand for Distributed Battery Storage Solutions Propel Market Growth

In Japan, the demand for distributed battery storage solutions is significantly high, driving the market for advanced energy storage systems. These distributed battery storage systems enable the efficient management of excess energy generated from renewable sources, which can be utilized during peak demand hours. The battery storage solutions ensure a stable supply from the grid and support the integration of renewables into the energy mix, thereby boosting the adoption of advanced energy storage systems in the market.

Additionally, battery storage systems help store renewable energy in large gigawatts, helping the country achieve its objectives regarding decarbonization and net-zero emissions in the coming years.

Lastly, Japan's growing adoption of electric vehicles (EVs) has further bolstered the demand for distributed battery storage solutions to support EV charging infrastructure. As the demand for EVs rises, so does the need for investment in charging infrastructure, which drives the demand for battery storage systems to manage the additional loads on the grid. This, in turn, propels the demand for advanced energy storage systems in the market.

Eku Energy recently announced a 30MW/120MWh Hirohara battery energy storage system (BESS) - its first battery storage project in Japan.

For instance, in April 2024, Eku Energy Limited announced a 30MW/120MWh Hirohara battery energy storage system (BESS), its first battery storage project in Japan. The project will be located at Oaza Hirohara, Miyazaki City. The BESS project will be capable of storing enough electricity to power roughly 63,000 households for four hours. This development testifies that companies are investing in Japan and producing distributed energy storage systems which will further help to power the residential and EV infrastructure in the future.

Significant Shift Towards Renewable Energy Sources Amplifying Market Size

Japan is looking to expand its solar and wind energy generation capacity to fulfill the rising demand. Urbanization and industrial growth are driving an increase in the demand for renewable electricity, prompting investments in renewable energy solutions. Additionally, awareness of climate change and sustainability issues is gradually encouraging consumers to adopt renewable energy. The country has set a target to achieve carbon neutrality by 2050, signifying a major shift toward renewable energy sources and driving the demand for advanced energy storage systems.

Advanced energy storage systems are vital for decarbonizing the electricity sector. One key advantage of these systems is their ability to enable greater utilization of renewable energy while reducing reliance on fossil fuels. The increasing installation of solar power systems in both the utility and commercial sectors is raising the demand for efficient energy storage solutions. Advanced energy storage systems effectively manage the variability and intermittency of renewable generation, further increasing their demand in the market.

For instance, in December 2024, the Japanese government released a draft of a new energy plan aiming for 40-50% of its power generation from renewable energy and 20% from nuclear energy by 2040, which will drive the demand for advanced energy storage systems. Japan's ministry plans to raise the proportion of renewable energy in the power generation mix to around 40-50% from the fiscal 2030 target of 36-38% while lowering that of thermal and other energy sources to around 30-40% from 42%.

Government Support and Incentives to Create Market Opportunities

Japan's government is actively supporting the adoption of renewable energy and associated storage technologies through various policies and financial incentives. This support is demonstrated through initiatives such as subsidies for battery installations in grid facilities, which encourage investment in advanced energy storage systems. The government provides various financial incentives to promote the adoption of these systems in the market. These initiatives make investments more economically viable for renewable energy project developers, thereby creating market opportunities. Furthermore, clear regulatory guidelines mandating grid operators to grant network access to energy storage systems foster a conducive ecosystem for market growth.

The country is developing new renewable energy policies focused on implementing high-efficiency energy storage technologies that help achieve emission reduction targets. According to Japan's 6th Strategic Energy Plan, battery storage will be expanded as a distributed source of electricity closer to end users and within microgrids. This new policy includes an increase in installed solar capacity from 79 gigawatts (GW) in 2022 to 108 GW by 2030, with plans to install solar capacity on 50% of government buildings (6 GW), corporate buildings and parking garages (10 GW), and public land and promotional areas (4 GW). The targeted increase in Japan's wind capacity focuses on boosting offshore capacity from 0.14 GW in 2022 to 10 GW by 2030.

Furthermore, for instance, in July 2024, the Japanese government decided to offer around a USD 57 million scheme, which significantly provides financial support for battery storage installations and encourages widespread adoption among utilities and businesses. Such initiatives not only lower the financial barriers to entry but also stimulate investment in distributed energy resources. Further, the scheme aims to augment the installation of battery energy storage system (BESS) technology in residential, commercial, and industrial (C&I), which will amplify the revenue for battery manufacturers in the market.

Central Region Dominate the Japan Advanced Storage Systems Market

The central region is expected to dominate the advanced energy storage systems market in Japan and is likely to continue this trend during the forecast period. Several factors, such as policy mandates, rising electricity prices, urbanization challenges, and heightened public awareness, are creating robust demand for the growth of advanced energy storage systems in the region. Advanced energy storage technology is becoming a lucrative option to support grid stability within densely populated cities.

Moreover, the region shows a strong inclination towards adopting renewable energy storage technologies that can effectively store excess energy cost-effectively. The government is introducing policies for the utility sector to encourage greater investment in advanced energy storage systems, which will boost their market share. Additionally, various subsidies and financial incentives are being introduced to promote the adoption of advanced energy storage systems in the region.

Future Market Scenario (FY2025 - FY2032F)

Japan aims to increase the share of renewable energy to 36-38% of its energy mix by 2030. The increase in the share of renewable energy sources in the energy mix is driving demand for advanced energy storage systems in the coming years.

The development of smart grid technologies is a crucial aspect of Japan's energy strategy. The shift towards smart grids will necessitate greater investment in advanced energy storage systems.

Continuous research and development (R&D) in battery energy storage technology will bring improvements in the storage system which will further boost the demand for advanced energy storage systems technology in the forecasted period.

The rise in investment in EV charging infrastructure will drive the demand for advanced energy storage systems.

Key Players Landscape and Outlook

Continuous innovation characterizes the landscape of advanced energy storage systems as the companies compete in terms of energy efficiency, product life, and unique features. The market outlook remains positive, owing to an increase in ambitious carbon neutrality goals and a rise in the need for grid stability solutions. Product launches, agreements, business expansions, collaborations, and developing technologies are projected to increase competition in the fast-paced market.

For instance, in April 2024, Sumitomo Electric Group decided to spend around USD 1.3 billion to set up battery facilities across Japan to store excess power generated from renewable energy sources. This development highlights the company will be investing in advanced storage systems which drive the market demand in the coming years.

Table of Contents

1. Project Scope and Definitions

2. Research Methodology

3. Executive Summary

4. Voice of Customer

• 4.1. Respondent Demographic
• 4.2. Factors Considered in Purchase Decisions
  • 4.2.1. Features and Other Value-Added Service
  • 4.2.2. Efficiency of Solutions
  • 4.2.3. After-Sales Support
  • 4.2.4. Cost of the System

5. Japan Advanced Energy Storage Systems Market Outlook, FY2018-FY2032F

• 5.1. Market Size Analysis & Forecast
  • 5.1.1. By Value
• 5.2. Market Share Analysis & Forecast
  • 5.2.1. By Technology
    • 5.2.1.1. Electrochemical Storage
      • 5.2.1.1.1. Lithium-Ion Batteries
      • 5.2.1.1.2. Flow Batteries
    • 5.2.1.2. Mechanical Storage
      • 5.2.1.2.1. Pumped Hydro Energy Storage
      • 5.2.1.2.2. Flywheel Energy Storage
      • 5.2.1.2.3. Compressed Air Energy Storage
    • 5.2.1.3. Thermal Storage
  • 5.2.2. By Application
    • 5.2.2.1. Transportation
    • 5.2.2.2. Utility
  • 5.2.3. By Region
    • 5.2.3.1. North [Hokkaido and Tohoku]
    • 5.2.3.2. Central [Kanto and Chubu]
    • 5.2.3.3. South [Kansai, Chugoku, Shikoku, and Kyushu & Okinawa]
  • 5.2.4. By Company Market Share Analysis (Top 5 Companies and Others - By Value, FY2024)
• 5.3. Market Map Analysis, FY2024
  • 5.3.1. By Technology
  • 5.3.2. By Application
  • 5.3.3. By Region

All segments will be provided for all regions covered

6. Porter's Five Forces Analysis

7. PESTLE Analysis

8. Market Dynamics

• 8.1. Market Drivers
• 8.2. Market Challenges

9. Market Trends and Developments

10. Policies and Regulatory Landscape

11. Competitive Landscape

• 11.1. Competition Matrix of Top 5 Market Leaders
• 11.2. SWOT Analysis for Top 5 Players
• 11.3. Key Players Landscape for Top 10 Market Players
  • 11.3.1. Samsung SDI Japan Co., Ltd.
    • 11.3.1.1. Company Details
    • 11.3.1.2. Key Management Personnel
    • 11.3.1.3. Products and Services
    • 11.3.1.4. Financials (As Reported)
    • 11.3.1.5. Key Market Focus and Geographical Presence
    • 11.3.1.6. Recent Developments/Collaborations/Partnerships/Mergers and Acquisition
  • 11.3.2. ABB Ltd.
  • 11.3.3. LG Energy Solution Japan Co., Ltd.
  • 11.3.4. Okada Corporation (Exide Technologies)
  • 11.3.5. Sumitomo Electric Industries, Ltd.
  • 11.3.6. Toshiba Energy Systems & Solutions Corporation
  • 11.3.7. NEC Corporation
  • 11.3.8. Hitachi Energy Ltd.
  • 11.3.9. GS Yuasa Corporation
  • 11.3.10. Eku Energy Limited

Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.

12. Strategic Recommendations

13. About Us and Disclaimer