Grid scale battery Market - Industry Size, Share, Growth & Forecast 2027 | UnivDatos

 

Grid scale battery enables energy storage on a large scale within electrical power grids. Grid scale battery technology is divided into UPS, electricity transmission and distribution, grid support, and energy management. Grid scale battery storage enhance power system flexibility and enable high levels of renewable energy integration.

Major factors fostering the growth of the market include the investments in renewable energy, and the cost reduction of grid-scale battery owing to technological advancements and expanded deployment. Furthermore, the government aids and standards for boosting energy efficiency are likely to drive the growth of the grid-scale battery market in upcoming years. Moreover, the technological advancement, which has led to a sharp increase in the energy density of the lithium-ion battery market even while decreasing the overall cost of lithium-ion batteries, has enabled the increase in the grid-scale battery deployment.

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According to UnivDatos Market Insights (UMI)’ research report “global grid scale battery”, market is expected to grow at a CAGR of around 25% during the forecast period (2021-2027). The grid scale battery market is growing at a significant rate in the past few years and expected to follow the same growth in the forecasted period as well. The factors such as increasing needs for system flexibility, combined with rapid decreases in the costs of battery technology, have enabled battery energy storage system (BESS) to play an increasing role in the power system in recent years.

Moreover, increasing awareness among consumers regarding effective energy consumption coupled with rising demand to save extra energy produced at the grid location with effective load supervision is expected to play a key role in driving the demand. Also, ascending demand from grids, on account of rising need for distributed energy integration with the grid, is likely to propel the market growth over the forecast period.

Based on Battery Type, the grid scale battery market is segmented into lithium-ion battery, lead acid battery, flow battery, sodium-based battery, and others. The lithium-ion battery segment catered significant demand in grid scale battery market. The technological advancement, which has led to a sharp increase in the energy density of the lithium-ion battery market coupled with decrease in the overall cost of lithium-ion batteries, has enabled the increase in the grid-scale battery deployment.

Based on Application, the grid scale battery market is segmented into renewable integration battery, peak shift battery, ancillary service battery, back-up power battery and others. The ancillary service battery segment holds the considerable market share. As the future of grid-scale battery storage is expected to rely significantly on renewable sources of energy, such as solar and wind. The operator uses grid-scale battery storage systems to provide ancillary services to mitigate the uncertainty and variability of the solar and wind power projects on a grid-scale.

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Asia Pacific to witness robust growth

Based on region, the report provides detail analysis for overall adoption of Grid scale battery in major region including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), Rest of World. Asia Pacific holds the extensive market share owing to the increasing electricity demand due to urbanization, population growth, and deployment of renewable which expected to escalate the market size of grid scale battery market.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global Grid scale battery market are Panasonic Corporation, Contemporary Amperex Technology Co. Ltd., Samsung SDI Co. Ltd., BYD Co. Ltd., LG Chem Ltd., Hitachi Ltd., NGK Insulators Ltd., Sumitomo Electric Industries, Ltd., Fluence, Tesla. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions. For instance:

• In November 2021, Panasonic Corporation has unveiled a new version of its lithium-ion storage solution for residential solar installations — the Evervolt battery

“Global Grid scale battery Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on different parameters. This will help companies in the formulation of go to market strategies and identifying the blue ocean for its offerings.      

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Market Segmentations:

1. By Battery Type (Lithium-Ion Battery, Lead Acid Battery, Flow Battery, Sodium-Based Battery, and Others)
2. By Application (Renewable Integration Battery, Peak Shift Battery, Ancillary Service Battery, Back-Up Power Battery, and Others)
3. By Region (North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World)
4. By Company (Panasonic Corporation, Contemporary Amperex Technology Co. Ltd., Samsung SDI Co. Ltd., BYD Co. Ltd., LG Chem Ltd., Hitachi Ltd., NGK Insulators Ltd., Sumitomo Electric Industries, Ltd., Fluence, Tesla)

Key questions answered in the study:

1. What are the current and future trends of the global Grid scale battery industry?
2. How the industry has been evolving in terms of battery type and application?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the global Grid scale battery industry?
5. What is the customer orientation, purchase behavior, and expectations from the global Grid scale battery suppliers across various region and countries?

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL GRID SCALE BATTERY MARKET COVID-19 IMPACT

6 GLOBAL GRID SCALE BATTERY MARKET REVENUE 2019-2027F

7 MARKET INSIGHTS BY BATTERY TYPE

8 MARKET INSIGHTS BY APPLICATION

9 MARKET INSIGHTS BY REGION

10 GRID SCALE BATTERY MARKET DYNAMICS

11 GRID SCALE BATTERY MARKET OPPORTUNITIES

12 GRID SCALE BATTERY MARKET TRENDS

13 LEGAL & REGULATORY FRAMEWORK

14 DEMAND AND SUPPLY SIDE ANALYSIS

15 VALUE CHAIN ANALYSIS

16 COMPETITIVE SCENARIO

17 COMPANY PROFILED

18 DISCLAIMER

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