Grid Scale Battery Storage Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION 

The term "grid-scale energy storage system" refers to the technologies that are being utilized to store energy so that it can be used in the future during challenging circumstances like power outages or shortages or when there is a high demand for power supply. This system primarily consists of improved batteries, flywheels, and pumped hydro storage devices, as well as other emerging technologies like compressed air energy storage (CAES). Grid scale energy storage is becoming more and more in demand as a result of factors including the need to improve the electricity grid's dependability, stability, and resilience as well as the necessity to incorporate energy generated from renewable sources like solar and wind.

MARKET DYNAMICS

Grid-scale battery sales are anticipated to increase in the next years due to the market expansion of renewable energy sources. In the upcoming years, the development of microgrids is anticipated to be fueled by the expansion of renewable energy sources. Thus, it is expected that during the forecast period, the use of grid-scale batteries in microgrids would continue to expand steadily. Market-available grid size batteries from various manufacturers are having trouble being recycled and disposed of. Batteries have an extremely low recycling rate, which is harmful to the environment. The development of grid-scale batteries is anticipated to suffer as a result in the upcoming years.

MARKET SCOPE    

The "Global Grid Scale Battery Storage Market Analysis to 2031" is a specialized and in-depth study of the grid scale battery storage market with a special focus on the global market trend analysis. The report aims to provide an overview of the grid scale battery storage market with detailed market segmentation by product, application, and geography. The global grid scale battery storage market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading grid scale battery storage market players and offers key trends and opportunities in the grid scale battery storage market. 

MARKET SEGMENTATION

The global grid scale battery storage market is segmented based on product and application. Based on product, grid scale battery storage market is segmented into lithium-ion, lead acid and others. Based on application, grid scale battery storage market is segmented into renewable integration, ancillary services and others.

IMPACT OF COVID-19 ON HELIOX MARKET

The COVID-19 pandemic outbreak has slowed market expansion because it has had a negative impact on the supply chains for the battery industry. The majority of battery market participants are based in the Asia Pacific region, and China, the world's largest manufacturer and leading supplier of components, was the first country to be affected.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Grid Scale Battery Storage Market based on various segments. It also provides market size and forecast estimates from year 2017 to 2031 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Grid Scale Battery Storage Market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting Grid Scale Battery Storage Market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely, North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the grid scale battery storage market in these regions.

MARKET PLAYERS

The reports cover key developments in the grid scale battery storage market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from grid scale battery storage market are anticipated to lucrative growth opportunities in the future with the rising demand for grid scale battery storage market. Below mentioned is the list of few companies engaged in the grid scale battery storage market. 
The report also includes the profiles of key grid scale battery storage market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
NGK Insulators Ltd.
BYD Co. Ltd.
Sumitomo Electric Industries, Ltd.
Samsung SDI Co. Ltd.
General Electric
GS Yuasa Corp.
LG Chem Ltd.
Mitsubishi Electric Corp.
Panasonic Corp.
ABB Group
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Grid Scale Battery Storage Report Scope