Grid-Scale Battery - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Grid-Scale Battery Market is accounted for $1.62 billion in 2019 and is expected to reach $14.51 billion by 2027 growing at a CAGR of 31.5% during the forecast period. Some of the key factors propelling the growth of the market are growing demand for energy-efficient machinery, government regulations for enhancing energy efficiency, and technological advancements. However, the high initial cost is the restraining factor for the growth of the market.
Grid-scale battery can be defined as the electrochemical device that stores energy generated by the power plant or from the grid and delivers when needed. This technology helps power operators to store energy for future use. The incorporation of this technology in the power sector helps in achieving flexibility in the internal processes and the integration of renewable energy sources.
By type, the lithium-ion segment is expected to grow at a significant market share during the forecast period owing to its improved manufacturing capacity and decrease in price with technological advancements. Based on geography, North America is anticipated to hold considerable market share during the forecast period which is attributed to the initiatives from governments to adopt renewable sources of energy and high awareness levels among people.
Some of the key players in Grid-Scale Battery Market include Panasonic Corporation, Toshiba, General Electric (GE), ABB, Tesla, Samsung SDI Co Ltd, LG Chem Ltd, S&C Electric Company, BYD Company Limited, NGK Insulators, East Penn Manufacturing Company, Fluence Energy LLC, Contemporary Amperex Technology Co Ltd, Clarios, Saft Groupe S.A., and GS Yuasa Corporation.
• Sodium Sulphur Battery
• Zinc-Hybrid Batteries
• Flow Battery
• Lead Acid
• Other Types
• Utility Owned
• Third-Party Owned
• Vendor Owned
• Independent Power Producers Owned
Power Generations Covered:
• Energy Capacity
• Power Capacity or Rating
• Ancillary Services
• Renewable Integration
• Frequency Regulation
• Back-Up Power
• Peak Shift
• Capacity Firming
• Load Shifting
• Bill Management
• Other Applications
Service Offerings Covered:
• Curtailment Reduction
• Investment Deferral
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
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 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- 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
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