Grid-Scale Battery Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026

Report Code: ZMR-3458 | Report Format : | Status : Upcoming |

Abstract

Global Grid-Scale Battery Market: Overview

Grid-scale batteries or large-scale energy storage devices are used for storing electrical energy on a huge scale inside a grid of electrical power. When production exceeds consumption, electrical energy is stored. Generally, this excess energy is produced in intermittent power plants, like renewable electrical sources of power, such as solar, tidal, and wind. Furthermore, the excess energy is sent back to the power grid during times of low energy production. The global grid-scale battery market is gaining popularity due to the increased demand for renewable sources of energy.

Global Grid-Scale Battery Market: Growth Factors

The major growth driver in the global grid-scale battery market is the growing investments made for renewable energy. Due to technological advancements, the costs of grid-scale batteries have gone down. This is fuelling the growth of the global grid-scale battery market. Various governments across the globe are providing subsidies and setting regulations to boost energy efficiency, which leads to the demand for generating and storing more energy. Thus, grid-scale batteries are useful for this purpose. Developed countries are increasingly adopting the third-party owned grid-scale batteries, as it augments the overall stability of a power grid. In addition, third-party owned grid-scale battery systems attract various government incentives. Increased reliability, attainment of energy efficiency and renewable targets, and resiliency and security from microgrid applications are some of the other factors that are contributing to the growth of this market.

Huge capital investments and hazardous environmental effects among others are some factors restraining the growth of the global grid-scale battery market.

Global Grid-Scale Battery Market: Segmentation

The global grid-scale battery market can be divided based on type, application, and ownership-model. On the basis of type, the grid-scale battery market can be segmented into lead acid, sodium-based, flow, and lithium-ion, among others (nickel-iron, nickel-metal-hydride, and nickel-cadmium batteries). Lithium-ion batteries have high power density and high energy, which makes it lightweight with high life expectancy (5–15 years), fewer standby losses, and 98% efficiency. Furthermore, these batteries are lightweight in comparison to nickel-metal-hydride and nickel-cadmium batteries. Based on application, the grid-scale battery market can be classified into peak shift, backup power, renewable integration, and ancillary services, among others. On the basis of ownership-model, the grid-scale battery market can be divided into third-party owned and utility owned.

Global Grid-Scale Battery Market: Regional Analysis

Based on regions, the global market for the grid-scale battery can be divided into five main regions: North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. The North American region is expected to dominate the market for grid-scale battery due to the growing demand for renewable sources of energy. The Asia Pacific region is anticipated to show good growth potential in the grid-scale battery market in the upcoming years. This is due to the growing demand for energy fuelled by increasing population in the region.

Global Grid-Scale Battery Market: Competitive Players

The key market players of the global market for grid-scale battery include BYD Co., Tesla, Fluence, Panasonic, Samsung, NGK Insulators Ltd., General Electric, Mitsubishi Electric Corp., Hitachi, Electrovaya, ABB Group, GS Yuasa Corp., Sumitomo Electric Industries, Saft, Toshiba, S&C Electric, EnerVault, Johnson Controls Inc., and LG Chem, among several others.

Global Grid-Scale Battery Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • The UK
    • France
    • Germany
  • The Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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