Grid-Scale Battery Market Size, Development, Key Opportunity, Application & Forecast to 2027

The Global Grid-Scale Battery Market is estimated to reach USD 9.8 Billion by 2025 at a CAGR of 32.2%, predicts forencis research (FSR).

Grid-scale battery is defined as the electrochemical device that stores energy produced by the power plant or from the grid and delivers when required. This technology helps power operators to store energy for later usage. Grid-scale battery storage incorporation in the power sector helps in achieving flexibility in the internal processes and in the integration of renewable energy sources. Grid-scale battery can be installed in the transmission network, distribution network near load centers, or with renewable energy generators. The battery can provide various services in any of the locations it is being deployed, ancillary services, investment deferral, reducing renewable energy curtailment are some of the services.

Grid-Scale Battery Market: Drivers & Challenges

Market Drivers:

Expanding Capabilities of the Renewable Energy Sector

The renewable energy sector is expanding worldwide as the urgency of clean energy is increasing. As per Energy Information Administration (EIA), in the US electricity generation from renewable sources prominently wind and solar have doubled in the past ten years. These renewable sources being infrequent in nature requires storage facility incorporated in the system. Grid-scale battery is rapidly getting acquired in the renewable system as they provide the storage facility. As the number of renewable source-based power plants is expected to increase worldwide, it may increase the demand for grid-scale batteries.

Thus, the expanding capabilities of the renewable energy sector may contribute to the growth of the grid-scale battery market, during the forecasted period.

Get Sample Copy of This Report @ https://www.forencisresearch.com/grid-scale-battery-market-sample-pdf/

Robust Demand in Power Sector

Implementation of grid-scale battery in the power sector helps the integration of renewable sources with the existing power system which results in cost saving for all the stakeholders. Also, islands and off-grid communities are further saving on fuel cost and reducing dependency on fossil fuels as energy stored in grid-scale batteries are benefitting them. It is estimated by a draft study commissioned by the State of New York that if around 11500 MW of energy storage is implemented in the states instead of conventional grid solutions, the State can save approximately USD 22 billion. All such factors are compelling aggressive demand for grid-scale batteries in the system by the power providers.

Thus, the robust demand in the power sector may contribute to the overall growth of the grid-scale battery market, during the forecasted period.

Market Challenges:

High Initial Costs

Grid-scale battery is a rising technology there are numerous factors challenging the growth of the market. One such factor is the high upfront costs of grid-scale battery storage. Regardless of reducing the cost of battery storage technologies, the initial installation cost of grid-scale battery storage is high. This may hinder the growth of the market worldwide. The governing authorities can encourage the demand by providing subsidies to the battery storage system owners which can reduce the burden of the initial cost. For instance, in the US under the American Recovery and Reinvestment Act of 2009 incentives are provided which become a source of finance for battery storage owners.

Thus, high initial costs can be challenging for the growth of the grid-scale battery market, during the forecast period.

Request Report Methodology On Competition On Global Grid-Scale Battery Market Here @ https://www.forencisresearch.com/grid-scale-battery-market-request-methodology/

Grid-Scale Battery Market: Key Segments

  • Storage technology segment comprises of: Lithium-ion Battery, Sodium Sulphur Battery, Lead Acid Battery, Flow Battery, and
  • Service offering segment comprises of: Ancillary Services, Capacity Firming, Curtailment Reduction, Investment Deferral, and
  • Ownership model segment comprises of: Utility Owned, Independent Power Producers Owned, and Vendor Owned.
  • Regional segmentation comprises of: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.

Grid-Scale Battery Market: Report Scope

The report on the grid-scale battery market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

List of the leading companies operating in the Grid-Scale Battery Market include:

  • BYD Co Ltd (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • GS Yuasa Corporation
  • Hitachi, Ltd.
  • LG Chem Ltd.
  • NEC Energy Solutions, Inc.
  • NGK Insulators Ltd
  • Panasonic Corporation
  • Total SA
  • Samsung SDI Co Ltd
  • Toshiba Corp
  • Other Key Companies

Consult with an Analyst @ https://www.forencisresearch.com/grid-scale-battery-market-consult-with-an-analyst/

Grid-Scale Battery Market: Report Segmentation

For the scope of the report, In-depth segmentation is offered by Forencis Research

Grid-Scale Battery Market, by Storage Technology

  • Lithium-ion Battery
  • Sodium Sulphur Battery
  • Lead Acid Battery
  • Flow Battery
  • Others

Grid-Scale Battery Market, by Service Offering

  • Ancillary Services
  • Capacity Firming
  • Curtailment Reduction
  • Investment Deferral
  • Others

Grid-Scale Battery Market, by Ownership Model

  • Utility Owned
  • Independent Power Producers Owned
  • Vendor Owned

Grid-Scale Battery Market by Region

  • Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
  • North America (US, Canada, Mexico)
  • Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
  • Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
  • South America (Brazil, Argentina, Rest of South America)

Key Questions answered by the report

  • What are the primary advancements affecting the global market and its growth?
  • What will be the effects of the advancements in the market on the industry globally and on the market players in the near and far future?
  • What are the emerging types of the global market?
  • What are the emerging applications of the global market?
  • What are the primary aspects that will impact market growth globally during the study period?
  • Who are the leading global players functioning in the market?
  • How are the leading players expanding in the existing global market conditions?

Table of Content

  1. INTRODUCTION
  2. RESEARCH DESIGN & SCOPE
  3. EXECUTIVE SUMMARY
  4. MARKET DYNAMICS
  5. INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
  6. GLOBAL GRID-SCALE BATTERY MARKET BY STORAGE TECHNOLOGY, Market Size in USD Million (2018—2025)
  7. GLOBAL GRID-SCALE BATTERY MARKET BY SERVICE OFFERING, Market Size in USD Million (2018—2025)
  8. GLOBAL GRID-SCALE BATTERY MARKET BY OWNERSHIP MODEL, Market Size in USD Million (2018—2025)
  9. GLOBAL GRID-SCALE BATTERY MARKET BY REGION, Market Size in USD Million (2018—2025)
  10. COMPETITIVE LANDSCAPE
  11. COMPANY PROFILES
  12. APPENDIX

Purchase this Premium Industry Research Report with Analysis @ https://www.forencisresearch.com/grid-scale-battery-market-purchase-now/

About Forencis Research

Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets. Forencis Research delivers market research and consulting reports on high growth markets to help companies dominate their competition and set themselves apart by attaining increased revenue growth. To enable exclusive insights around the target market, Forencis Research employs robust research Methodology & Design which includes data acquisition, data synthesis and data correlation, through Primary and Secondary Research. Through the obtained data, Top-down and bottom-up methods are exercised to attain and verify data sanity within the entire market. This market data is yet again correlated with Forencis Research’s internal database before presenting it in any of our final publications. These methods of data correlation and amalgamation benefit us to put forward accurate market estimates enabling our clients to transform their business, markets and most importantly their “REVENUES”.

Contact Us

FORENCIS RESEARCH

Phone: +1 (720) 306 9020

Email: info@forencisresearch.com

For more market research insights, please visit https://www.forencisresearch.com