Grid-Scale Battery Market: By Type (Lithium-Ion Battery, Lead Acid Battery, Flow Battery, Sodium-Ion Battery, Zinc Hybrid, Others), By Ownership (Third-Party Owned, Utility Owned), By Application (Renewable Integration, Peak Shift, Ancillary Services, Back-Up Power, Others) And Region – Global Analysis of Market Size, Share & Trends For 2019–2021 And Forecasts To 2031
Grid-Scale Battery Market: By Type (Lithium-Ion Battery, Lead Acid Battery, Flow Battery, Sodium-Ion Battery, Zinc Hybrid, Others), By Ownership (Third-Party Owned, Utility Owned), By Application (Renewable Integration, Peak Shift, Ancillary Services, Back-Up Power, Others) And Region – Global Analysis of Market Size, Share & Trends For 2019–2021 And Forecasts To 2031
PRODUCT OVERVIEW
Battery storage is a technology that allows utilities and power system operators to store energy for later use. A battery energy storage system is an electrochemical device that charges or absorbs energy from the grid or a power plant and then discharges it when electricity or other grid services are required. Lithium-ion, redox flow, lead-acid, and molten salt are among the battery chemistries available or under development for grid-scale applications. Key technical properties of battery chemistries differ, and each battery has its own set of advantages and disadvantages.
MARKET HIGHLIGHTS
The global Grid-Scale Battery Market is expected to reach a notable CAGR of 25.1% by 2031
Global Grid-Scale Battery Market to surpass USD 30.4 billion by 2031 from USD 3.2 billion in 2021 at a CAGR of 25.1% in the coming years, i.e., 2021-2031. The market's expansion can be ascribed to rising investments in renewable energy and falling grid-scale battery costs as a result of energy sector technological breakthroughs. In addition, during the same year, a record amount of over 256 GW of renewable electricity capacity was added globally, contributing to market development.
GLOBAL GRID-SCALE BATTERY MARKET: SEGMENTS
Lithium-Ion Battery segment to grow with the maximum CAGR during the forecast period 2021-31
On the basis of Type, the Grid-Scale Battery Market is divided into Lithium-Ion Battery, Lead Acid Battery, Flow Battery, Sodium-Ion Battery, Zinc Hybrid, and Others. Throughout the projected period, the lithium-ion battery sector is expected to have the greatest market share. These batteries have a high energy and power density, making them lightweight with lower standby losses and a long life expectancy of five to fifteen years at 98 percent efficiency. Furthermore, compared to nickel-cadmium and nickel metal-hydride batteries, these batteries are lighter in weight.
Renewable Integration segment is expected to witness higher growth during 2021-31
Based on Application, the Grid-Scale Battery Market is categorized into Renewable Integration, Peak Shift, Ancillary Services, Back-Up Power, and Others. Due to factors such as the achievement of renewable targets and energy efficiency; higher dependability, security, and resiliency from micro-grid applications, the Renewable Integration segment is expected to lead the market throughout the forecast period.
MARKET DYNAMICS
Drivers
Growing technological advancements and demand for more efficient machines are propelling the Grid-Scale Battery Market
Increasing R&D in Grid-Scale Battery for better operational efficiency
Restraint
The need for significant capital investments is majorly hampering the Grid-Scale Battery Market
GLOBAL GRID-SCALE BATTERY MARKET:
Key Players
Grid-Scale Battery Market Segments:
PRODUCT OVERVIEW
Battery storage is a technology that allows utilities and power system operators to store energy for later use. A battery energy storage system is an electrochemical device that charges or absorbs energy from the grid or a power plant and then discharges it when electricity or other grid services are required. Lithium-ion, redox flow, lead-acid, and molten salt are among the battery chemistries available or under development for grid-scale applications. Key technical properties of battery chemistries differ, and each battery has its own set of advantages and disadvantages.
MARKET HIGHLIGHTS
The global Grid-Scale Battery Market is expected to reach a notable CAGR of 25.1% by 2031
Global Grid-Scale Battery Market to surpass USD 30.4 billion by 2031 from USD 3.2 billion in 2021 at a CAGR of 25.1% in the coming years, i.e., 2021-2031. The market's expansion can be ascribed to rising investments in renewable energy and falling grid-scale battery costs as a result of energy sector technological breakthroughs. In addition, during the same year, a record amount of over 256 GW of renewable electricity capacity was added globally, contributing to market development.
GLOBAL GRID-SCALE BATTERY MARKET: SEGMENTS
Lithium-Ion Battery segment to grow with the maximum CAGR during the forecast period 2021-31
On the basis of Type, the Grid-Scale Battery Market is divided into Lithium-Ion Battery, Lead Acid Battery, Flow Battery, Sodium-Ion Battery, Zinc Hybrid, and Others. Throughout the projected period, the lithium-ion battery sector is expected to have the greatest market share. These batteries have a high energy and power density, making them lightweight with lower standby losses and a long life expectancy of five to fifteen years at 98 percent efficiency. Furthermore, compared to nickel-cadmium and nickel metal-hydride batteries, these batteries are lighter in weight.
Renewable Integration segment is expected to witness higher growth during 2021-31
Based on Application, the Grid-Scale Battery Market is categorized into Renewable Integration, Peak Shift, Ancillary Services, Back-Up Power, and Others. Due to factors such as the achievement of renewable targets and energy efficiency; higher dependability, security, and resiliency from micro-grid applications, the Renewable Integration segment is expected to lead the market throughout the forecast period.
MARKET DYNAMICS
Drivers
Growing technological advancements and demand for more efficient machines are propelling the Grid-Scale Battery Market
Increasing R&D in Grid-Scale Battery for better operational efficiency
Restraint
The need for significant capital investments is majorly hampering the Grid-Scale Battery Market
GLOBAL GRID-SCALE BATTERY MARKET:
Key Players
- Panasonic Corporation
- Contemporary Amperex Technology Co. Ltd.
- Samsung SDI Co. Ltd.
- BYD Co. Ltd.
- LG Chem Ltd.
- Hitachi Ltd.
- NGK Insulators Ltd.
- Sumitomo Electric Industries, Ltd.
- Tesla
- Toshiba
- Other Prominent Players
Grid-Scale Battery Market Segments:
- By Type
- Lithium-Ion Battery
- Lead Acid Battery
- Flow Battery
- Sodium-Ion Battery
- Zinc Hybrid
- Others
- By Ownership
- Third-Party Owned
- Utility Owned
- By Application
- Renewable Integration
- Peak Shift
- Ancillary Services
- Back-Up Power
- Others
- Grid-Scale Battery Market Dynamics
- Grid-Scale Battery Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
- Provision of market value (USD Billion) data for each segment and sub-segment
- Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
- Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
- Provides insight into the market through Value Chain
- Market dynamics scenario, along with growth opportunities of the market in the years to come
- 3-month post-sales analyst support.
Executive Summary
1.1. Regional Market Share
1.2. Business Trends
1.3. Grid-Scale Battery Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot
2 RESEARCH METHODOLOGY
2.1. Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4. Primary Research
2.5. Secondary Research
2.5.1. Paid Sources
2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation
3 MARKET CHARACTERISTICS
3.1. Market Definition
3.2. Grid-Scale Battery Market: COVID-19 Impact
3.3. Key Segmentations
3.4. Key Developments
3.5. Allied Industry Data
4 GRID-SCALE BATTERY MARKET – INDUSTRY INSIGHTS
4.1. Industry Segmentation
4.2. COVID-19 overview on world economy
4.3. Industry ecosystem Channel analysis
4.4. Innovation & Sustainability
5 MACROECONOMIC INDICATORS
6 RECENT DEVELOPMENTS
7 MARKET DYNAMICS
7.1. Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4. Market Restraints
7.5. Market Trends
8 RISK ANALYSIS
9 MARKET ANALYSIS
9.1. Porters Five Forces
9.2. PEST Analysis
9.2.1. Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10 GRID-SCALE BATTERY MARKET
10.1. Overview
10.2. Historical Analysis (2016-2020)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11 GRID-SCALE BATTERY MARKET SIZE & FORECAST 2021A-2031F
11.1. Overview
11.2. Key Findings
11.3. Market Segmentation
11.3.1. By Type
11.3.1.1. Lithium-Ion Battery
11.3.1.1.1. By Value (USD Million) 2021-2031F
11.3.1.1.2. Market Share (%) 2021-2031F
11.3.1.1.3. Y-o-Y Growth (%) 2021-2031F
11.3.1.2. Lead Acid Battery
11.3.1.2.1. By Value (USD Million) 2021-2031F
11.3.1.2.2. Market Share (%) 2021-2031F
11.3.1.2.3. Y-o-Y Growth (%) 2021-2031F
11.3.1.3. Flow Battery
11.3.1.3.1. By Value (USD Million) 2021-2031F
11.3.1.3.2. Market Share (%) 2021-2031F
11.3.1.3.3. Y-o-Y Growth (%) 2021-2031F
11.3.1.4. Sodium-Ion Battery
11.3.1.4.1. By Value (USD Million) 2021-2031F
11.3.1.4.2. Market Share (%) 2021-2031F
11.3.1.4.3. Y-o-Y Growth (%) 2021-2031F
11.3.1.5. Zinc Hybrid
11.3.1.5.1. By Value (USD Million) 2021-2031F
11.3.1.5.2. Market Share (%) 2021-2031F
11.3.1.5.3. Y-o-Y Growth (%) 2021-2031F
11.3.1.6. Others
11.3.1.6.1. By Value (USD Million) 2021-2031F
11.3.1.6.2. Market Share (%) 2021-2031F
11.3.1.6.3. Y-o-Y Growth (%) 2021-2031F
11.3.2. By Ownership
11.3.2.1. Third-Party Owned
11.3.2.1.1. By Value (USD Million) 2021-2031F
11.3.2.1.2. Market Share (%) 2021-2031F
11.3.2.1.3. Y-o-Y Growth (%) 2021-2031F
11.3.2.2. Utility Owned
11.3.2.2.1. By Value (USD Million) 2021-2031F
11.3.2.2.2. Market Share (%) 2021-2031F
11.3.2.2.3. Y-o-Y Growth (%) 2021-2031F
11.3.3. By Application
11.3.3.1. Renewable Integration
11.3.3.1.1. By Value (USD Million) 2021-2031F
11.3.3.1.2. Market Share (%) 2021-2031F
11.3.3.1.3. Y-o-Y Growth (%) 2021-2031F
11.3.3.2. Peak Shift
11.3.3.2.1. By Value (USD Million) 2021-2031F
11.3.3.2.2. Market Share (%) 2021-2031F
11.3.3.2.3. Y-o-Y Growth (%) 2021-2031F
11.3.3.3. Ancillary Services
11.3.3.3.1. By Value (USD Million) 2021-2031F
11.3.3.3.2. Market Share (%) 2021-2031F
11.3.3.3.3. Y-o-Y Growth (%) 2021-2031F
11.3.3.4. Back-Up Power
11.3.3.4.1. By Value (USD Million) 2021-2031F
11.3.3.4.2. Market Share (%) 2021-2031F
11.3.3.4.3. Y-o-Y Growth (%) 2021-2031F
11.3.3.5. Others
11.3.3.5.1. By Value (USD Million) 2021-2031F
11.3.3.5.2. Market Share (%) 2021-2031F
11.3.3.5.3. Y-o-Y Growth (%) 2021-2031F
12 NORTH AMERICA GRID-SCALE BATTERY MARKET SIZE & FORECAST 2021A-2031F
12.1. Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1. By Type
12.3.2. By Ownership
12.3.3. By Application
12.4. Country
12.4.1. United States
12.4.2. Canada
13 EUROPE GRID-SCALE BATTERY MARKET SIZE & FORECAST 2021A-2031F
13.1. Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1. By Type
13.3.2. By Ownership
13.3.3. By Application
13.4. Country
13.4.1. Germany
13.4.2. United Kingdom
13.4.3. France
13.4.4. Italy
13.4.5. Spain
13.4.6. Russia
13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14 ASIA GRID-SCALE BATTERY MARKET SIZE & FORECAST 2021A-2031F
14.1. Overview
14.2. Key Findings
14.3. Market Segmentation
14.3.1. By Type
14.3.2. By Ownership
14.3.3. By Application
14.4. By Country
14.4.1. India
14.4.2. China
14.4.3. South Korea
14.4.4. Japan
14.4.5. Rest of APAC
15 MIDDLE EAST AND AFRICA GRID-SCALE BATTERY MARKET SIZE & FORECAST 2021A-2031F
15.1. Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1. By Type
15.3.2. By Ownership
15.3.3. By Application
15.4. Country
15.4.1. Israel
15.4.2. GCC
15.4.3. North Africa
15.4.4. South Africa
15.4.5. Rest of Middle East and Africa
16 LATIN AMERICA GRID-SCALE BATTERY MARKET SIZE & FORECAST 2021A-2031F
16.1. Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1. By Type
16.3.2. By Ownership
16.3.3. By Application
16.4. Country
16.4.1. Mexico
16.4.2. Brazil
16.4.3. Rest of Latin America
17 COMPETITIVE LANDSCAPE
17.1. Company market share, 2021
17.2. Key player overview
17.3. Key stakeholders
18 COMPANY PROFILES
18.1. Panasonic Corporation
18.1.1. Company Overview
18.1.2. Financial Overview
18.1.3. Key Product; Analysis
18.1.4. Company Assessment
18.1.4.1. Product Portfolio
18.1.4.2. Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2. Contemporary Amperex Technology Co. Ltd.
18.3. Samsung SDI Co. Ltd.
18.4. BYD Co. Ltd.
18.5. LG Chem Ltd.
18.6. Hitachi Ltd.
18.7. NGK Insulators Ltd.
18.8. Sumitomo Electric Industries, Ltd.
18.9. Tesla
18.10. Toshiba
18.11. Other Prominent Players
19 APPENDIX
20 CONSULTANT RECOMMENDATION
1.1. Regional Market Share
1.2. Business Trends
1.3. Grid-Scale Battery Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot
2 RESEARCH METHODOLOGY
2.1. Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4. Primary Research
2.5. Secondary Research
2.5.1. Paid Sources
2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation
3 MARKET CHARACTERISTICS
3.1. Market Definition
3.2. Grid-Scale Battery Market: COVID-19 Impact
3.3. Key Segmentations
3.4. Key Developments
3.5. Allied Industry Data
4 GRID-SCALE BATTERY MARKET – INDUSTRY INSIGHTS
4.1. Industry Segmentation
4.2. COVID-19 overview on world economy
4.3. Industry ecosystem Channel analysis
4.4. Innovation & Sustainability
5 MACROECONOMIC INDICATORS
6 RECENT DEVELOPMENTS
7 MARKET DYNAMICS
7.1. Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4. Market Restraints
7.5. Market Trends
8 RISK ANALYSIS
9 MARKET ANALYSIS
9.1. Porters Five Forces
9.2. PEST Analysis
9.2.1. Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10 GRID-SCALE BATTERY MARKET
10.1. Overview
10.2. Historical Analysis (2016-2020)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11 GRID-SCALE BATTERY MARKET SIZE & FORECAST 2021A-2031F
11.1. Overview
11.2. Key Findings
11.3. Market Segmentation
11.3.1. By Type
11.3.1.1. Lithium-Ion Battery
11.3.1.1.1. By Value (USD Million) 2021-2031F
11.3.1.1.2. Market Share (%) 2021-2031F
11.3.1.1.3. Y-o-Y Growth (%) 2021-2031F
11.3.1.2. Lead Acid Battery
11.3.1.2.1. By Value (USD Million) 2021-2031F
11.3.1.2.2. Market Share (%) 2021-2031F
11.3.1.2.3. Y-o-Y Growth (%) 2021-2031F
11.3.1.3. Flow Battery
11.3.1.3.1. By Value (USD Million) 2021-2031F
11.3.1.3.2. Market Share (%) 2021-2031F
11.3.1.3.3. Y-o-Y Growth (%) 2021-2031F
11.3.1.4. Sodium-Ion Battery
11.3.1.4.1. By Value (USD Million) 2021-2031F
11.3.1.4.2. Market Share (%) 2021-2031F
11.3.1.4.3. Y-o-Y Growth (%) 2021-2031F
11.3.1.5. Zinc Hybrid
11.3.1.5.1. By Value (USD Million) 2021-2031F
11.3.1.5.2. Market Share (%) 2021-2031F
11.3.1.5.3. Y-o-Y Growth (%) 2021-2031F
11.3.1.6. Others
11.3.1.6.1. By Value (USD Million) 2021-2031F
11.3.1.6.2. Market Share (%) 2021-2031F
11.3.1.6.3. Y-o-Y Growth (%) 2021-2031F
11.3.2. By Ownership
11.3.2.1. Third-Party Owned
11.3.2.1.1. By Value (USD Million) 2021-2031F
11.3.2.1.2. Market Share (%) 2021-2031F
11.3.2.1.3. Y-o-Y Growth (%) 2021-2031F
11.3.2.2. Utility Owned
11.3.2.2.1. By Value (USD Million) 2021-2031F
11.3.2.2.2. Market Share (%) 2021-2031F
11.3.2.2.3. Y-o-Y Growth (%) 2021-2031F
11.3.3. By Application
11.3.3.1. Renewable Integration
11.3.3.1.1. By Value (USD Million) 2021-2031F
11.3.3.1.2. Market Share (%) 2021-2031F
11.3.3.1.3. Y-o-Y Growth (%) 2021-2031F
11.3.3.2. Peak Shift
11.3.3.2.1. By Value (USD Million) 2021-2031F
11.3.3.2.2. Market Share (%) 2021-2031F
11.3.3.2.3. Y-o-Y Growth (%) 2021-2031F
11.3.3.3. Ancillary Services
11.3.3.3.1. By Value (USD Million) 2021-2031F
11.3.3.3.2. Market Share (%) 2021-2031F
11.3.3.3.3. Y-o-Y Growth (%) 2021-2031F
11.3.3.4. Back-Up Power
11.3.3.4.1. By Value (USD Million) 2021-2031F
11.3.3.4.2. Market Share (%) 2021-2031F
11.3.3.4.3. Y-o-Y Growth (%) 2021-2031F
11.3.3.5. Others
11.3.3.5.1. By Value (USD Million) 2021-2031F
11.3.3.5.2. Market Share (%) 2021-2031F
11.3.3.5.3. Y-o-Y Growth (%) 2021-2031F
12 NORTH AMERICA GRID-SCALE BATTERY MARKET SIZE & FORECAST 2021A-2031F
12.1. Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1. By Type
12.3.2. By Ownership
12.3.3. By Application
12.4. Country
12.4.1. United States
12.4.2. Canada
13 EUROPE GRID-SCALE BATTERY MARKET SIZE & FORECAST 2021A-2031F
13.1. Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1. By Type
13.3.2. By Ownership
13.3.3. By Application
13.4. Country
13.4.1. Germany
13.4.2. United Kingdom
13.4.3. France
13.4.4. Italy
13.4.5. Spain
13.4.6. Russia
13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14 ASIA GRID-SCALE BATTERY MARKET SIZE & FORECAST 2021A-2031F
14.1. Overview
14.2. Key Findings
14.3. Market Segmentation
14.3.1. By Type
14.3.2. By Ownership
14.3.3. By Application
14.4. By Country
14.4.1. India
14.4.2. China
14.4.3. South Korea
14.4.4. Japan
14.4.5. Rest of APAC
15 MIDDLE EAST AND AFRICA GRID-SCALE BATTERY MARKET SIZE & FORECAST 2021A-2031F
15.1. Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1. By Type
15.3.2. By Ownership
15.3.3. By Application
15.4. Country
15.4.1. Israel
15.4.2. GCC
15.4.3. North Africa
15.4.4. South Africa
15.4.5. Rest of Middle East and Africa
16 LATIN AMERICA GRID-SCALE BATTERY MARKET SIZE & FORECAST 2021A-2031F
16.1. Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1. By Type
16.3.2. By Ownership
16.3.3. By Application
16.4. Country
16.4.1. Mexico
16.4.2. Brazil
16.4.3. Rest of Latin America
17 COMPETITIVE LANDSCAPE
17.1. Company market share, 2021
17.2. Key player overview
17.3. Key stakeholders
18 COMPANY PROFILES
18.1. Panasonic Corporation
18.1.1. Company Overview
18.1.2. Financial Overview
18.1.3. Key Product; Analysis
18.1.4. Company Assessment
18.1.4.1. Product Portfolio
18.1.4.2. Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2. Contemporary Amperex Technology Co. Ltd.
18.3. Samsung SDI Co. Ltd.
18.4. BYD Co. Ltd.
18.5. LG Chem Ltd.
18.6. Hitachi Ltd.
18.7. NGK Insulators Ltd.
18.8. Sumitomo Electric Industries, Ltd.
18.9. Tesla
18.10. Toshiba
18.11. Other Prominent Players
19 APPENDIX
20 CONSULTANT RECOMMENDATION
