Global Grid-Scale Battery Market valued approximately USD 684 million in 2016 is forecasted to grow with a healthy growth rate of more than 31.73% over the forecast period 2018-2025. The major factors speculated to augment the markets are drop in prices due to expanded deployment & technological developments, rising number of investments in renewable energy, and government aids & grants and the regulations for augmenting energy efficiency. Advances in molten-salt battery technology is one of the likely opportunistic areas for the growth of the market whereas excessive initial capital expenditure is one of the prime restraining factors of the market.
Global Grid-Scale Battery Market is segmented based on Type, Ownership-Model, and Application. the Lithium-Ion subsegment of Type segment is expected to show a tendency of dominance with largest market share through forecasted period. Whereas, Peak Shift subsegment is expected to hold the highest market growth rate in the Application segment.
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The regional analysis of Global Grid-Scale Battery Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world in terms of market share due to the escalating needs for renewable energy storage in the non-residential, residential, and utility sectors. Whereas, owing to countries like India, China & Japan, and increasing population in the region has resulted in the growing requirements for energy the Asia Pacific region is expected to dominate the market over the forecast period 2018-2025.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
Some of the leading market players include Tesla, Benchmarking, ABB, Toshiba, EnerVault, LG Chem, Ltd., Panasonic Corporation, BYD Company Ltd., NGK Insulators, Samsung SDI Co., Ltd., AES Energy Storage, Fluence Energy, LLC, General Electric (GE), SaftGroupe S.A., S&C Electric Company, GS Yuasa Corporation, Aquion Energy, Johnson Controls, Inc., American Vanadium, Imergy, and so on.
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The detailed segments and sub-segment of the market are explained below:
By Type:
– Flow
– Lithium-Ion
– Sodium Based
– Lead Acid
– Others
By Ownership-Model:
– Utility
– Third-Party
By Application:
– Ancillary Services
– Renewable Integration
– Back-Up Power
– Peak Shift
– Others
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