Grid-Scale Battery Market Scope, Size, Share 2031
The Grid-Scale Battery Market is expected to register a CAGR of 15.5% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Type (Lead Acid, Lithium-Ion, Flow Battery, Others); Application (Renewable Integration, Ancillary Services, Peak Shifting, Backup Power, Others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Grid-Scale Battery Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Grid-Scale Battery Market Segmentation
Type- Lead Acid
- Lithium-Ion
- Flow Battery
- Others
- Renewable Integration
- Ancillary Services
- Peak Shifting
- Backup Power
- Others
Strategic Insights
Grid-Scale Battery Market Growth Drivers- Rising Integration of Renewable Energy Sources: As the world transitions to renewable energy sources like solar and wind, the need for energy storage solutions to address the intermittency and variability of these sources is becoming crucial. Grid-scale batteries provide an effective means to store excess energy generated during peak production periods and release it when demand is high or renewable output is low. This is driving the adoption of grid-scale batteries as essential components of modern energy grids, enabling more reliable and stable integration of renewable energy.
- Demand for Grid Stability and Energy Security: Increasing electricity demand, aging infrastructure, and the need for grid resilience in the face of natural disasters or unforeseen disruptions are driving the demand for grid-scale energy storage solutions. Grid-scale batteries provide utilities with a tool to stabilize the grid by balancing supply and demand, ensuring that power is available when needed, and reducing the impact of grid failures. This capability enhances energy security, making battery storage an integral part of the future energy landscape.
- Shift Towards Long-Duration Energy Storage Solutions: While traditional grid-scale batteries such as lithium-ion are effective for short-term energy storage, there is an increasing trend towards the development and adoption of long-duration energy storage (LDES) solutions. Technologies like flow batteries, iron-air batteries, and pumped hydro storage are emerging to address the need for energy storage solutions that can store large amounts of energy for extended periods. These systems are expected to play a significant role in balancing the energy grid, especially during periods of low renewable energy production or high demand.
- Hybrid Energy Storage Systems: Hybrid energy storage systems, which combine different types of storage technologies, are gaining popularity as they offer greater flexibility, efficiency, and scalability. By integrating grid-scale batteries with other forms of energy storage, such as pumped hydro, compressed air energy storage (CAES), or thermal energy storage, these hybrid systems provide enhanced grid stability and cost-effectiveness. Hybrid solutions are particularly effective in optimizing energy dispatch and reducing operational costs, which is driving their adoption across a variety of energy grids.
- Expansion of Smart Grids and Microgrids: The rise of smart grids and microgrids is opening up significant opportunities for grid-scale batteries. These advanced grid systems, which use real-time data and automation to optimize energy distribution, are increasingly integrating energy storage solutions to enhance grid stability and energy efficiency. Grid-scale batteries are essential in these systems for providing backup power, load leveling, and improving the overall resilience of power distribution networks. The growing adoption of smart grids and microgrids worldwide presents a lucrative opportunity for the grid-scale battery market.
- Increasing Investment in Renewable Energy Infrastructure: Governments and private entities around the world are investing heavily in renewable energy projects to meet sustainability targets and reduce carbon emissions. As renewable energy capacity grows, the need for grid-scale storage solutions to complement intermittent energy sources like wind and solar also increases. This expanding investment in renewable infrastructure provides a significant opportunity for grid-scale batteries to play a pivotal role in enhancing the reliability and efficiency of power systems.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Grid-Scale Battery Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Grid-Scale Battery Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The Grid-Scale Battery Market is estimated to witness a CAGR of 15.5% from 2023 to 2031
The major factors driving the Grid-Scale Battery Market are: Increasing Focus on Establishing Energy Infrastructure and Mounting Energy Demand
Role of grid-scale battery in energy transitions is the key future trend of the Grid-Scale Battery Market
The leading players operating in the Grid-Scale Battery Market include Automotive Energy Supply Corporation, Furukawa Electric Co., Ltd., GS Yuasa Corporation, LG Chem Ltd., Johnson Controls, Panasonic Corporation, Samsung SDI Co., Ltd., Toshiba Corporation, Exide Industries, and BYD Global
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on the request are an additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Grid-Scale Battery Market - By Type
1.3.2 Grid-Scale Battery Market - By Application
1.3.3 Grid-Scale Battery Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. GRID-SCALE BATTERY MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. GRID-SCALE BATTERY MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. GRID-SCALE BATTERY MARKET - GLOBAL MARKET ANALYSIS
6.1. GRID-SCALE BATTERY - GLOBAL MARKET OVERVIEW
6.2. GRID-SCALE BATTERY - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. GRID-SCALE BATTERY MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. LEAD ACID
7.3.1. Overview
7.3.2. Lead Acid Market Forecast and Analysis
7.4. LITHIUM-ION
7.4.1. Overview
7.4.2. Lithium-Ion Market Forecast and Analysis
7.5. FLOW BATTERY
7.5.1. Overview
7.5.2. Flow Battery Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. GRID-SCALE BATTERY MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. RENEWABLE INTEGRATION
8.3.1. Overview
8.3.2. Renewable Integration Market Forecast and Analysis
8.4. ANCILLARY SERVICES
8.4.1. Overview
8.4.2. Ancillary Services Market Forecast and Analysis
8.5. PEAK SHIFTING
8.5.1. Overview
8.5.2. Peak Shifting Market Forecast and Analysis
8.6. BACKUP POWER
8.6.1. Overview
8.6.2. Backup Power Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. GRID-SCALE BATTERY MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Grid-Scale Battery Market Overview
9.1.2 North America Grid-Scale Battery Market Forecasts and Analysis
9.1.3 North America Grid-Scale Battery Market Forecasts and Analysis - By Type
9.1.4 North America Grid-Scale Battery Market Forecasts and Analysis - By Application
9.1.5 North America Grid-Scale Battery Market Forecasts and Analysis - By Countries
9.1.5.1 United States Grid-Scale Battery Market
9.1.5.1.1 United States Grid-Scale Battery Market by Type
9.1.5.1.2 United States Grid-Scale Battery Market by Application
9.1.5.2 Canada Grid-Scale Battery Market
9.1.5.2.1 Canada Grid-Scale Battery Market by Type
9.1.5.2.2 Canada Grid-Scale Battery Market by Application
9.1.5.3 Mexico Grid-Scale Battery Market
9.1.5.3.1 Mexico Grid-Scale Battery Market by Type
9.1.5.3.2 Mexico Grid-Scale Battery Market by Application
9.2. EUROPE
9.2.1 Europe Grid-Scale Battery Market Overview
9.2.2 Europe Grid-Scale Battery Market Forecasts and Analysis
9.2.3 Europe Grid-Scale Battery Market Forecasts and Analysis - By Type
9.2.4 Europe Grid-Scale Battery Market Forecasts and Analysis - By Application
9.2.5 Europe Grid-Scale Battery Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Grid-Scale Battery Market
9.2.5.1.1 Germany Grid-Scale Battery Market by Type
9.2.5.1.2 Germany Grid-Scale Battery Market by Application
9.2.5.2 France Grid-Scale Battery Market
9.2.5.2.1 France Grid-Scale Battery Market by Type
9.2.5.2.2 France Grid-Scale Battery Market by Application
9.2.5.3 Italy Grid-Scale Battery Market
9.2.5.3.1 Italy Grid-Scale Battery Market by Type
9.2.5.3.2 Italy Grid-Scale Battery Market by Application
9.2.5.4 United Kingdom Grid-Scale Battery Market
9.2.5.4.1 United Kingdom Grid-Scale Battery Market by Type
9.2.5.4.2 United Kingdom Grid-Scale Battery Market by Application
9.2.5.5 Russia Grid-Scale Battery Market
9.2.5.5.1 Russia Grid-Scale Battery Market by Type
9.2.5.5.2 Russia Grid-Scale Battery Market by Application
9.2.5.6 Rest of Europe Grid-Scale Battery Market
9.2.5.6.1 Rest of Europe Grid-Scale Battery Market by Type
9.2.5.6.2 Rest of Europe Grid-Scale Battery Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Grid-Scale Battery Market Overview
9.3.2 Asia-Pacific Grid-Scale Battery Market Forecasts and Analysis
9.3.3 Asia-Pacific Grid-Scale Battery Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Grid-Scale Battery Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Grid-Scale Battery Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Grid-Scale Battery Market
9.3.5.1.1 Australia Grid-Scale Battery Market by Type
9.3.5.1.2 Australia Grid-Scale Battery Market by Application
9.3.5.2 China Grid-Scale Battery Market
9.3.5.2.1 China Grid-Scale Battery Market by Type
9.3.5.2.2 China Grid-Scale Battery Market by Application
9.3.5.3 India Grid-Scale Battery Market
9.3.5.3.1 India Grid-Scale Battery Market by Type
9.3.5.3.2 India Grid-Scale Battery Market by Application
9.3.5.4 Japan Grid-Scale Battery Market
9.3.5.4.1 Japan Grid-Scale Battery Market by Type
9.3.5.4.2 Japan Grid-Scale Battery Market by Application
9.3.5.5 Rest of Asia-Pacific Grid-Scale Battery Market
9.3.5.5.1 Rest of Asia-Pacific Grid-Scale Battery Market by Type
9.3.5.5.2 Rest of Asia-Pacific Grid-Scale Battery Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Grid-Scale Battery Market Overview
9.4.2 Middle East and Africa Grid-Scale Battery Market Forecasts and Analysis
9.4.3 Middle East and Africa Grid-Scale Battery Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Grid-Scale Battery Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Grid-Scale Battery Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Grid-Scale Battery Market
9.4.5.1.1 South Africa Grid-Scale Battery Market by Type
9.4.5.1.2 South Africa Grid-Scale Battery Market by Application
9.4.5.2 Saudi Arabia Grid-Scale Battery Market
9.4.5.2.1 Saudi Arabia Grid-Scale Battery Market by Type
9.4.5.2.2 Saudi Arabia Grid-Scale Battery Market by Application
9.4.5.3 U.A.E Grid-Scale Battery Market
9.4.5.3.1 U.A.E Grid-Scale Battery Market by Type
9.4.5.3.2 U.A.E Grid-Scale Battery Market by Application
9.4.5.4 Rest of Middle East and Africa Grid-Scale Battery Market
9.4.5.4.1 Rest of Middle East and Africa Grid-Scale Battery Market by Type
9.4.5.4.2 Rest of Middle East and Africa Grid-Scale Battery Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Grid-Scale Battery Market Overview
9.5.2 South and Central America Grid-Scale Battery Market Forecasts and Analysis
9.5.3 South and Central America Grid-Scale Battery Market Forecasts and Analysis - By Type
9.5.4 South and Central America Grid-Scale Battery Market Forecasts and Analysis - By Application
9.5.5 South and Central America Grid-Scale Battery Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Grid-Scale Battery Market
9.5.5.1.1 Brazil Grid-Scale Battery Market by Type
9.5.5.1.2 Brazil Grid-Scale Battery Market by Application
9.5.5.2 Argentina Grid-Scale Battery Market
9.5.5.2.1 Argentina Grid-Scale Battery Market by Type
9.5.5.2.2 Argentina Grid-Scale Battery Market by Application
9.5.5.3 Rest of South and Central America Grid-Scale Battery Market
9.5.5.3.1 Rest of South and Central America Grid-Scale Battery Market by Type
9.5.5.3.2 Rest of South and Central America Grid-Scale Battery Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. GRID-SCALE BATTERY MARKET, KEY COMPANY PROFILES
11.1. FLUENCE ENERGY, LLC
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. GENERAL ELECTRIC COMPANY
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. GS YUASA LITHIUM POWER INC.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. LG CHEM LTD
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. NGK INSULATORS, LTD.
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. S AND C ELECTRIC COMPANY
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. SAFT GROUPE SA
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SAMSUNG SDI CO LTD
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. TESLA, INC.
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. TOSHIBA CORPORATION
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Fluence Energy, LLC
2. General Electric Company
3. GS Yuasa Lithium Power Inc.
4. LG Chem Ltd
5. NGK INSULATORS, LTD.
6. S and C Electric Company
7. Saft Groupe SA
8. Samsung SDI Co Ltd
9. Tesla, Inc.
10. Toshiba Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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