Researchstore.biz launched a study titled “Global Grid-Scale Battery Market By Type (Lithium-Ion, Flow Battery, Sodium-Based, Lead Acid, Others), Ownership-Model (Third-Party Owned, Utility Owned), Application (Renewable Integration, Ancillary Services, Back-Up Power, Peak Shift, Others), Region (North America, Europe, Asia Pacific, South America and Middle East and Africa)” and Global Forecast 2018-2025.

The global grid-scale battery market is expected to grow from USD 679.84 Million in 2017 to USD 6,164.48 Million by 2025 at a CAGR of 33.81% during the forecast period from 2018-2025. Major drivers that fuel the growth of grid-scale battery market are:

  • Growing investments in renewable energy

  • Dropping costs owed to technological advancements and deployment

  • Government aids and regulations for enhancing energy efficiency

Market Summary:

The growing adoption of batteries as well as research and development for batteries has increased the market for grid-scale battery. The requirement for light weight, high efficiency, high energy & power density has also increased in recent years. The grid-scale battery are more reliable and flexible and can be used as large scale energy storage systems to provide energy services. The installation of grid-scale battery storage has powered the utility and third party owners to have their own storage of electrical energy. These grid-scale battery can operate 24 hours a day while storing the backup of power when needed. Grid-scale battery has become a major focus for research and development (R&D) ventures around the world.

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Growing investments in renewable energy and dropping costs owed to technological advancements and deployment is anticipated to drive grid-scale battery market:

Growing investments in renewable energy and dropping costs owed to technological advancements and deployment are the key driving factors for the grid-scale battery market. In addition, government aids and regulations for enhancing energy efficiency will lead the growth of grid-scale battery market in couple of years. Dangerous environmental effects and high capital investments may limit the growth of market. However, growing focus on rural electrification and innovation of molten-salt battery technology is expected to boost the grid-scale battery market over the forecast period.

Segmentation Analysis:

The global grid-scale battery market is segmented on the basis of type, ownership-model, application, and regions.

Peak shift segment is anticipated to grow with highest CAGR of 36.11% over the forecast period

Application segment includes renewable integration, ancillary services, back-up power, peak shift, and others. Peak shift segment is anticipated to grow with highest CAGR over the forecast period. Here, contributing factors for popularity of peak shift is they are highly cost-effective and also reduces electric utility expenses.

Lithium-ion segment valued at around USD 193.55 Million in 2017

Type segment is divided into lithium-ion, flow battery, sodium-based, lead acid, and others. Lithium-ion is playing a chief role in shaping business growth, disrupting industry verticals and acting as catalyst for business modernization. The lighter weight, high efficiency, and high energy & power density are the major driving factor for the growth of lithium-ion batteries segment.

Regional Segmentation Analysis:

The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia Pacific held the largest market share of approximately 29.64% in 2017. Increasing demands for energy and governments promoting for alternative energy adoption solutions is major factors that led to the growth of grid-scale battery market in this region.

Competitive Analysis:

The major players for grid-scale battery market include BYD Company, Panasonic, Fluence, Hydrostor, LG Chem, Samsung, Tesla, ABB, Beacon Power, S&C Electric, EnerVault, General Electric, SustainX, Fluence Energy, LLC, GS Yuasa Corporation, Saft Groupe S.A., NGK Insulators, and Toshiba.

Grid-scale battery market is segmented into the following submarkets:

Grid-Scale Battery Market by Type:

  • Lithium-Ion

  • Flow Battery

  • Sodium-Based

  • Lead Acid

  • Others

Grid-Scale Battery Market by Ownership-Model:

  • Third-Party Owned

  • Utility Owned

Grid-Scale Battery Market by Application:

  • Renewable Integration

  • Ancillary Services

  • Back-Up Power

  • Peak Shift

  • Others

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Grid-Scale Battery Market by Regions:

NORTH AMERICA

  • U.S.

  • Canada

  • Mexico

EUROPE

  • Germany

  • France

  • Sweden

  • Netherlands

  • U.K.

  • Italy

  • Spain

  • Turkey

  • Switzerland

  • Belgium

  • Rest of Europe

ASIA-PACIFIC

  • Japan

  • China

  • India

  • South Korea

  • Australia

  • Singapore

  • Malaysia

  • Thailand

  • Indonesia

  • Philippines

  • Rest of Asia-Pacific

SOUTH AMERICA

  • Brazil

  • Rest of South America

MIDDLE EAST AND AFRICA

  • Saudi Arabia

  • UAE

  • Egypt

  • Nigeria

  • South Africa

  • Rest of Middle East and Africa

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