Grid-Scale Battery Market by Type (Lithium-Ion, Lead Acid, Flow, Sodium-Based, and Others), by Application (Renewable Integration, Peak Shift, Ancillary Services, Back-Up Power, and Others), and by Ownership-Model (Third-Party Owned and Utility Owned): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025

Global grid-scale battery market expected to reach around USD 8.78 billion by 2025, at a CAGR of 33.5% between 2019 and 2025. Grid-scale battery is a large-scale energy storage device. This grid-scale battery stores electrical energy on a huge scale inside of an electrical power grid.

26-Jun-2019 | Number of pages: 110 | Report Code: ZMR-3458 | Report Format : | Status : Published

Analysis

Grid-scale battery is a large-scale energy storage device. This grid-scale battery stores electrical energy on a huge scale inside of an electrical power grid. These batteries are used in a wide range of applications, such as peak shift, renewable integration, back-up power, and ancillary services.

The global grid-scale battery market is likely to experience significant growth over the upcoming years, owing to the rising implementation of automation across various end-user industries. The growing investments for renewable resources are also expected to fuel the global grid-scale battery market over the forecast time period. The decreasing costs of grid-scale batteries due to expanded deployment and technological advancements are projected to further propel the global grid-scale battery market growth in the years to come. However, huge capital investments and harmful environmental effects of grid-scale batteries may restrict the global grid-scale battery market development in the future. Alternatively, the increasing focus on rural electrification by leading market players, particularly in developing countries will create new growth opportunities.

Global Grid Scale Battery Market

The global grid-scale battery market is fragmented into type, application, and ownership-model. By type, the global grid-scale battery market includes lithium-ion, lead acid, flow, sodium based, and others. Lithium-ion batteries were the fastest growing market segment and accounted for a significant share in 2018. On the basis of application, the global grid-scale battery market includes integration, peak shift, ancillary services, back-up power, and others. The renewable integration segment held a major share of the global grid-scale battery in 2018. By ownership-model, the global grid-scale battery market includes third-party owned and utility owned. In 2018, the third-party owned segment dominated the global grid-scale battery market.

In 2018, North America was the largest region in the global grid-scale battery market. This growth is mainly attributed to the rising investments for renewable energy sources across the region. In the U.S, the increasing number of government policies and guidelines for utilities and rising focus on reducing cost and increasing energy efficiency are anticipated to further propel the grid-scale battery market in the upcoming years. The Asia Pacific grid-scale battery market is anticipated to register the fastest CAGR over the next few years, owing to the rising urbanization and growing industrialization in the region, particularly in the emerging economies of China and India.

The major players of the global grid-scale battery market are Tesla, BYD, Panasonic, Fluence, NGK Insulators, Samsung, Mitsubishi Electric, General Electric, Electrovaya, Hitachi, GS Yuasa, ABB Group, Saft, Sumitomo Electric, S&C Electric, Toshiba, Johnson Controls, LG Chem, and EnerVault.


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