Grid Scale Battery Storage Market Updates by 2031
MARKET INTRODUCTION Naveen Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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.
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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.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
TABLE OF CONTENTS
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 Storage Market - By Type
1.3.2 Grid Scale Battery Storage Market - By Application
1.3.3 Grid Scale Battery Storage Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. GRID SCALE BATTERY STORAGE 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 STORAGE 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 AND RESTRAINTS
6. GRID SCALE BATTERY STORAGE MARKET - GLOBAL MARKET ANALYSIS
6.1. GRID SCALE BATTERY STORAGE - GLOBAL MARKET OVERVIEW
6.2. GRID SCALE BATTERY STORAGE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. GRID SCALE BATTERY STORAGE MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. LITHIUM-ION
7.3.1. Overview
7.3.2. Lithium-Ion Market Forecast and Analysis
7.4. LEAD ACID
7.4.1. Overview
7.4.2. Lead Acid Market Forecast and Analysis
7.5. OTHERS
7.5.1. Overview
7.5.2. Others Market Forecast and Analysis
8. GRID SCALE BATTERY STORAGE 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. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. GRID SCALE BATTERY STORAGE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Grid Scale Battery Storage Market Overview
9.1.2 North America Grid Scale Battery Storage Market Forecasts and Analysis
9.1.3 North America Grid Scale Battery Storage Market Forecasts and Analysis - By Type
9.1.4 North America Grid Scale Battery Storage Market Forecasts and Analysis - By Application
9.1.5 North America Grid Scale Battery Storage Market Forecasts and Analysis - By Countries
9.1.5.1 United States Grid Scale Battery Storage Market
9.1.5.1.1 United States Grid Scale Battery Storage Market by Type
9.1.5.1.2 United States Grid Scale Battery Storage Market by Application
9.1.5.2 Canada Grid Scale Battery Storage Market
9.1.5.2.1 Canada Grid Scale Battery Storage Market by Type
9.1.5.2.2 Canada Grid Scale Battery Storage Market by Application
9.1.5.3 Mexico Grid Scale Battery Storage Market
9.1.5.3.1 Mexico Grid Scale Battery Storage Market by Type
9.1.5.3.2 Mexico Grid Scale Battery Storage Market by Application
9.2. EUROPE
9.2.1 Europe Grid Scale Battery Storage Market Overview
9.2.2 Europe Grid Scale Battery Storage Market Forecasts and Analysis
9.2.3 Europe Grid Scale Battery Storage Market Forecasts and Analysis - By Type
9.2.4 Europe Grid Scale Battery Storage Market Forecasts and Analysis - By Application
9.2.5 Europe Grid Scale Battery Storage Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Grid Scale Battery Storage Market
9.2.5.1.1 Germany Grid Scale Battery Storage Market by Type
9.2.5.1.2 Germany Grid Scale Battery Storage Market by Application
9.2.5.2 France Grid Scale Battery Storage Market
9.2.5.2.1 France Grid Scale Battery Storage Market by Type
9.2.5.2.2 France Grid Scale Battery Storage Market by Application
9.2.5.3 Spain Grid Scale Battery Storage Market
9.2.5.3.1 Spain Grid Scale Battery Storage Market by Type
9.2.5.3.2 Spain Grid Scale Battery Storage Market by Application
9.2.5.4 United Kingdom Grid Scale Battery Storage Market
9.2.5.4.1 United Kingdom Grid Scale Battery Storage Market by Type
9.2.5.4.2 United Kingdom Grid Scale Battery Storage Market by Application
9.2.5.5 Russia Grid Scale Battery Storage Market
9.2.5.5.1 Russia Grid Scale Battery Storage Market by Type
9.2.5.5.2 Russia Grid Scale Battery Storage Market by Application
9.2.5.6 Rest of Europe Grid Scale Battery Storage Market
9.2.5.6.1 Rest of Europe Grid Scale Battery Storage Market by Type
9.2.5.6.2 Rest of Europe Grid Scale Battery Storage Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Grid Scale Battery Storage Market Overview
9.3.2 Asia-Pacific Grid Scale Battery Storage Market Forecasts and Analysis
9.3.3 Asia-Pacific Grid Scale Battery Storage Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Grid Scale Battery Storage Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Grid Scale Battery Storage Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Grid Scale Battery Storage Market
9.3.5.1.1 Australia Grid Scale Battery Storage Market by Type
9.3.5.1.2 Australia Grid Scale Battery Storage Market by Application
9.3.5.2 China Grid Scale Battery Storage Market
9.3.5.2.1 China Grid Scale Battery Storage Market by Type
9.3.5.2.2 China Grid Scale Battery Storage Market by Application
9.3.5.3 India Grid Scale Battery Storage Market
9.3.5.3.1 India Grid Scale Battery Storage Market by Type
9.3.5.3.2 India Grid Scale Battery Storage Market by Application
9.3.5.4 Japan Grid Scale Battery Storage Market
9.3.5.4.1 Japan Grid Scale Battery Storage Market by Type
9.3.5.4.2 Japan Grid Scale Battery Storage Market by Application
9.3.5.5 South Korea Grid Scale Battery Storage Market
9.3.5.5.1 South Korea Grid Scale Battery Storage Market by Type
9.3.5.5.2 South Korea Grid Scale Battery Storage Market by Application
9.3.5.6 Rest of Asia-Pacific Grid Scale Battery Storage Market
9.3.5.6.1 Rest of Asia-Pacific Grid Scale Battery Storage Market by Type
9.3.5.6.2 Rest of Asia-Pacific Grid Scale Battery Storage Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Grid Scale Battery Storage Market Overview
9.4.2 Middle East and Africa Grid Scale Battery Storage Market Forecasts and Analysis
9.4.3 Middle East and Africa Grid Scale Battery Storage Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Grid Scale Battery Storage Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Grid Scale Battery Storage Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Grid Scale Battery Storage Market
9.4.5.1.1 South Africa Grid Scale Battery Storage Market by Type
9.4.5.1.2 South Africa Grid Scale Battery Storage Market by Application
9.4.5.2 Saudi Arabia Grid Scale Battery Storage Market
9.4.5.2.1 Saudi Arabia Grid Scale Battery Storage Market by Type
9.4.5.2.2 Saudi Arabia Grid Scale Battery Storage Market by Application
9.4.5.3 U.A.E Grid Scale Battery Storage Market
9.4.5.3.1 U.A.E Grid Scale Battery Storage Market by Type
9.4.5.3.2 U.A.E Grid Scale Battery Storage Market by Application
9.4.5.4 Rest of Middle East and Africa Grid Scale Battery Storage Market
9.4.5.4.1 Rest of Middle East and Africa Grid Scale Battery Storage Market by Type
9.4.5.4.2 Rest of Middle East and Africa Grid Scale Battery Storage Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Grid Scale Battery Storage Market Overview
9.5.2 South and Central America Grid Scale Battery Storage Market Forecasts and Analysis
9.5.3 South and Central America Grid Scale Battery Storage Market Forecasts and Analysis - By Type
9.5.4 South and Central America Grid Scale Battery Storage Market Forecasts and Analysis - By Application
9.5.5 South and Central America Grid Scale Battery Storage Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Grid Scale Battery Storage Market
9.5.5.1.1 Brazil Grid Scale Battery Storage Market by Type
9.5.5.1.2 Brazil Grid Scale Battery Storage Market by Application
9.5.5.2 Argentina Grid Scale Battery Storage Market
9.5.5.2.1 Argentina Grid Scale Battery Storage Market by Type
9.5.5.2.2 Argentina Grid Scale Battery Storage Market by Application
9.5.5.3 Rest of South and Central America Grid Scale Battery Storage Market
9.5.5.3.1 Rest of South and Central America Grid Scale Battery Storage Market by Type
9.5.5.3.2 Rest of South and Central America Grid Scale Battery Storage 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 STORAGE MARKET, KEY COMPANY PROFILES
11.1. NGK INSULATORS LTD.
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. BYD CO. LTD.
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. SUMITOMO ELECTRIC INDUSTRIES, LTD.
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. SAMSUNG SDI CO. 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. GENERAL ELECTRIC
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. GS YUASA CORP.
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. LG CHEM LTD.
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. MITSUBISHI ELECTRIC CORP.
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. PANASONIC CORP.
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. ABB GROUP
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
The List Of Companies
- 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 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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