Grid Scale Battery
PUBLISHED: 2024 ID: SMRC27352
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Grid Scale Battery

Grid Scale Battery Market Forecasts to 2030 - Global Analysis by Battery Type (Lithium Ion Batteries, Flow Batteries, Lead Acid Batteries, Sodium Sulfur (NaS) Batteries, Nickel Cadmium Batteries, Other Battery Types) Installation, Power Rating, Ownership Model, Application and By Geography

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4.1 (61 reviews)
Published: 2024 ID: SMRC27352

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Grid Scale Battery Market is accounted for $12.86 billion in 2024 and is expected to reach $38.7 billion by 2030 growing at a CAGR of 20.2% during the forecast period. Global grid-scale battery is a large-scale energy storage system designed to support electric power grids by storing and releasing electricity. These batteries, commonly lithium-ion or flow batteries are deployed at the utility level to balance supply and demand, integrate renewable energy sources, and enhance grid stability. They enable the storage of excess energy generated during low-demand periods for use during peak times, improving energy efficiency and reliability. 

Market Dynamics: 

Driver: 

Growing Renewable Energy Integration 

Growing renewable energy integration is significantly impacting the market by necessitating effective energy storage solutions to manage the variability of sources like solar and wind. As countries increase their reliance on renewables to reduce carbon emissions, grid-scale batteries play a crucial role in storing excess energy generated during peak production and releasing it during high demand. This integration enhances grid stability, supports a reliable energy supply, and drives investments in advanced battery technologies, ultimately accelerating market growth and innovation in energy storage. Thus, it drives the growth of the market.

Restraint:

High Initial Costs

High initial costs of grid-scale battery systems present a major barrier to market growth. The substantial upfront investment required for installation and technology can deter potential projects, especially in regions with limited funding. This financial obstacle may slow the adoption of energy storage solutions, impacting the transition to renewable energy and hindering advancements in grid stability and reliability, thus it hinders the growth of the market.

Opportunity:

Rising Demand for Energy Storage

Rising demand for energy storage is a key driver of the market, fueled by increasing reliance on renewable energy sources and the need for reliable electricity supply. As energy consumption grows, particularly during peak hours, grid-scale batteries provide essential solutions for balancing supply and demand. This demand prompts investments in advanced battery technologies and infrastructure, enhancing grid stability and efficiency. Ultimately, the growing need for energy storage solutions accelerates market growth and drives innovation in energy storage systems worldwide, thus it boosts the growth of the market.

Threat:

Limited Raw Material Availability

Limited raw material availability poses a significant challenge for the market, as fluctuations in the supply and cost of essential materials like lithium, cobalt, and nickel can hinder production. These shortages can lead to increased battery prices and delays in project implementation, ultimately impacting market growth and the widespread adoption of energy storage solutions. Thus, it hampers the growth of the market.

Covid-19 Impact: 

The COVID-19 pandemic initially disrupted the global grid-scale battery market by causing delays in production, supply chain interruptions, and decreased investment. However, it also accelerated the shift towards renewable energy and energy storage as governments emphasized sustainability in recovery plans. As economies rebound, there is renewed interest in grid-scale batteries for stabilizing energy systems and supporting renewable integration.

The renewable integration segment is expected to be the largest during the forecast period

The renewable integration segment is expected to be the largest during the forecast period because share of renewable increases, the need for efficient energy storage solutions becomes critical to address intermittency and variability. Grid-scale batteries provide essential support by storing excess energy generated during peak production times and releasing it during periods of high demand. This capability enhances grid stability, reduces reliance on fossil fuels, and improves overall energy efficiency. 

The load shifting segment is expected to have the highest CAGR during the forecast period

The load shifting segment is expected to have the highest CAGR during the forecast period due to enhancing grid stability. This practice involves shifting energy usage from peak to off-peak periods, effectively reducing demand during high consumption times. Grid-scale batteries play a crucial role in this process by storing excess energy generated during low-demand periods and releasing it during peak times. This trend drives demand for advanced battery technologies, fostering innovation and investment in energy storage solutions across the globe.

Region with largest share:

North America is projected to hold the largest market share during the forecast period due to improving grid reliability and resilience. These batteries enable better management of energy supply and demand, reducing reliance on fossil fuels. Additionally, advancements in battery technology stimulate job creation and innovation in manufacturing. Overall, this market growth fosters a cleaner, more sustainable energy landscape, positioning North America as a leader in energy transition efforts.

Region with highest CAGR:

Asia Pacific is projected to witness the highest CAGR over the forecast period because countries prioritize sustainability and aim to reduce carbon emissions; investments in grid-scale batteries enhance energy management, stabilize electricity supply, and improve grid resilience. This transition fosters economic growth, drives technological innovation, and enhances energy security across the region. Furthermore, the development of smart grid infrastructure supported by battery storage solutions enables more efficient energy distribution.

Key players in the market

Some of the key players in Grid Scale Battery Market include ABB Ltd., BYD Company Limited, Contemporary Amperex Technology Co. Limited (CATL), Enersys, Eos Energy Enterprises, Inc., Fluence Energy, Inc., General Electric Company, LG Energy Solution, NEC Energy Solutions, Inc., NGK Insulators, Ltd., Nidec Industrial Solutions, Panasonic Corporation, Powin Energy Corporation, Redflow Limited, Saft Groupe S.A., Samsung SDI Co., Ltd., Siemens Energy AG, SMA Solar Technology AG, Sonnen GmbH, Tesla, Inc., VARTA AG and Zenobe Energy Limited.

Key Developments:

In May 2024, ABB expanded electrification portfolio with acquisition of Siemens’ Wiring Accessories business. The acquisition had broadened ABB’s market reach and complements its regional customer offering within smart buildings.

In February 2024, ABB announced an agreement to acquire SEAM Group, a major provider of energized asset management. The acquisition brought significant additional expertise to customers in the areas of predictive, preventive, and corrective maintenance.

In January 2024, ABB announced to acquire Canadian company Real Tech, a leading supplier of innovative optical sensor technology that enables real-time water monitoring. Through the acquisition, ABB expands its strong presence in the water segment and complement its product portfolio with optical technology critical for smart water management.

Battery Types Covered:
• Lithium Ion Batteries
• Flow Batteries
• Lead Acid Batteries
• Sodium Sulfur (NaS) Batteries
• Nickel Cadmium Batteries
• Other Battery Types

Installations Covered:
• On-Grid
• Off-Grid

Power Ratings Covered:
• Up to 100 MW
• 100–200 MW
• Above 200 MW

Ownership Models Covered:
• Utility Owned
• Third Party Owned
• Customer Owned

Applications Covered:
• Renewable Integration
• Peak Shaving
• Load Shifting
• Backup Power
• Ancillary Services
• Frequency Regulation
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
 

Table of Contents

1 Executive Summary   
     
2 Preface    
 2.1 Abstract   
 2.2 Stake Holders  
 2.3 Research Scope  
 2.4 Research Methodology 
  2.4.1 Data Mining 
  2.4.2 Data Analysis 
  2.4.3 Data Validation 
  2.4.4 Research Approach 
 2.5 Research Sources  
  2.5.1 Primary Research Sources
  2.5.2 Secondary Research Sources
  2.5.3 Assumptions 
     
3 Market Trend Analysis  
 3.1 Introduction  
 3.2 Drivers   
 3.3 Restraints  
 3.4 Opportunities  
 3.5 Threats   
 3.6 Application Analysis 
 3.7 Emerging Markets  
 3.8 Impact of Covid-19  
     
4 Porters Five Force Analysis  
 4.1 Bargaining power of suppliers 
 4.2 Bargaining power of buyers 
 4.3 Threat of substitutes 
 4.4 Threat of new entrants 
 4.5 Competitive rivalry  
     
5 Global Grid Scale Battery Market, By Battery Type 
 5.1 Introduction  
 5.2 Lithium Ion Batteries 
 5.3 Flow Batteries  
 5.4 Lead Acid Batteries  
 5.5 Sodium Sulfur (NaS) Batteries 
 5.6 Nickel Cadmium Batteries 
 5.7 Other Battery Types  
     
6 Global Grid Scale Battery Market, By Installation
 6.1 Introduction  
 6.2 On-Grid   
 6.3 Off-Grid   
     
7 Global Grid Scale Battery Market, By Power Rating
 7.1 Introduction  
 7.2 Up to 100 MW  
 7.3 100–200 MW  
 7.4 Above 200 MW  
     
8 Global Grid Scale Battery Market, By Ownership Model
 8.1 Introduction  
 8.2 Utility Owned  
 8.3 Third Party Owned  
 8.4 Customer Owned  
     
9 Global Grid Scale Battery Market, By Application
 9.1 Introduction  
 9.2 Renewable Integration 
 9.3 Peak Shaving  
 9.4 Load Shifting  
 9.5 Backup Power  
 9.6 Ancillary Services  
 9.7 Frequency Regulation 
 9.8 Other Applications  
     
10 Global Grid Scale Battery Market, By Geography
 10.1 Introduction  
 10.2 North America  
  10.2.1 US  
  10.2.2 Canada  
  10.2.3 Mexico  
 10.3 Europe   
  10.3.1 Germany  
  10.3.2 UK  
  10.3.3 Italy  
  10.3.4 France  
  10.3.5 Spain  
  10.3.6 Rest of Europe 
 10.4 Asia Pacific  
  10.4.1 Japan  
  10.4.2 China  
  10.4.3 India  
  10.4.4 Australia  
  10.4.5 New Zealand 
  10.4.6 South Korea 
  10.4.7 Rest of Asia Pacific 
 10.5 South America  
  10.5.1 Argentina 
  10.5.2 Brazil  
  10.5.3 Chile  
  10.5.4 Rest of South America
 10.6 Middle East & Africa 
  10.6.1 Saudi Arabia 
  10.6.2 UAE  
  10.6.3 Qatar  
  10.6.4 South Africa 
  10.6.5 Rest of Middle East & Africa
     
11 Key Developments   
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures
 11.2 Acquisitions & Mergers 
 11.3 New Product Launch 
 11.4 Expansions  
 11.5 Other Key Strategies 
     
12 Company Profiling   
 12.1 ABB Ltd.   
 12.2 BYD Company Limited 
 12.3 Contemporary Amperex Technology Co. Limited (CATL)
 12.4 Enersys   
 12.5 Eos Energy Enterprises, Inc. 
 12.6 Fluence Energy, Inc.  
 12.7 General Electric Company 
 12.8 LG Energy Solution  
 12.9 NEC Energy Solutions, Inc. 
 12.10 NGK Insulators, Ltd.  
 12.11 Nidec Industrial Solutions 
 12.12 Panasonic Corporation 
 12.13 Powin Energy Corporation 
 12.14 Redflow Limited  
 12.15 Saft Groupe S.A.  
 12.16 Samsung SDI Co., Ltd. 
 12.17 Siemens Energy AG  
 12.18 SMA Solar Technology AG 
 12.19 Sonnen GmbH  
 12.20 Tesla, Inc.  
 12.21 VARTA AG  
 12.22 Zenobe Energy Limited 
     
List of Tables    
1 Global Grid Scale Battery Market Outlook, By Region (2022-2030) ($MN)
2 Global Grid Scale Battery Market Outlook, By Battery Type  (2022-2030) ($MN)
3 Global Grid Scale Battery Market Outlook, By Lithium Ion Batteries (2022-2030) ($MN)
4 Global Grid Scale Battery Market Outlook, By Flow Batteries (2022-2030) ($MN)
5 Global Grid Scale Battery Market Outlook, By Lead Acid Batteries (2022-2030) ($MN)
6 Global Grid Scale Battery Market Outlook, By Sodium Sulfur (NaS) Batteries (2022-2030) ($MN)
7 Global Grid Scale Battery Market Outlook, By Nickel Cadmium Batteries (2022-2030) ($MN)
8 Global Grid Scale Battery Market Outlook, By Other Battery Types (2022-2030) ($MN)
9 Global Grid Scale Battery Market Outlook, By Installation (2022-2030) ($MN)
10 Global Grid Scale Battery Market Outlook, By On-Grid (2022-2030) ($MN)
11 Global Grid Scale Battery Market Outlook, By Off-Grid (2022-2030) ($MN)
12 Global Grid Scale Battery Market Outlook, By Power Rating (2022-2030) ($MN)
13 Global Grid Scale Battery Market Outlook, By Up to 100 MW (2022-2030) ($MN)
14 Global Grid Scale Battery Market Outlook, By 100–200 MW (2022-2030) ($MN)
15 Global Grid Scale Battery Market Outlook, By Above 200 MW (2022-2030) ($MN)
16 Global Grid Scale Battery Market Outlook, By Ownership Model (2022-2030) ($MN)
17 Global Grid Scale Battery Market Outlook, By Utility Owned (2022-2030) ($MN)
18 Global Grid Scale Battery Market Outlook, By Third Party Owned (2022-2030) ($MN)
19 Global Grid Scale Battery Market Outlook, By Customer Owned (2022-2030) ($MN)
20 Global Grid Scale Battery Market Outlook, By Application (2022-2030) ($MN)
21 Global Grid Scale Battery Market Outlook, By Renewable Integration (2022-2030) ($MN)
22 Global Grid Scale Battery Market Outlook, By Peak Shaving (2022-2030) ($MN)
23 Global Grid Scale Battery Market Outlook, By Load Shifting (2022-2030) ($MN)
24 Global Grid Scale Battery Market Outlook, By Backup Power (2022-2030) ($MN)
25 Global Grid Scale Battery Market Outlook, By Ancillary Services (2022-2030) ($MN)
26 Global Grid Scale Battery Market Outlook, By Frequency Regulation (2022-2030) ($MN)
27 Global Grid Scale Battery Market Outlook, By Other Applications (2022-2030) ($MN)
     
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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