Grid Scale Battery Market Drivers, Growth Opportunities, Key Players Analysis and Regional Outlook to 2023

The grid-scale battery market has been segmented based on application into renewable integration, peak shifting, ancillary services, back-up power, and others (including microgrids, ramping, black start, and transmission/distribution upgrade deferral).

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The grid-scale battery market is expected to grow from USD 1.37 billion in 2018 to USD 5.82 billion by 2023, at a CAGR of 33.52% between 2018 and 2023. Factors such as attainment of renewable targets and energy efficiency, and increased reliability, security and resiliency of microgrid applications are expected to drive the growth of the grid-scale battery market for renewable integration during the forecast period.

Key Target Audience:
• Transmission and distribution utilities
• State and national regulatory authorities
• Power generation utilities
• Consulting companies and associations in the energy and power sector
• Government and research organizations
• Grid-scale battery manufacturers
• Investment banks
• Engineering, procurement, and construction companies in the distribution sector

Some of the major factors driving the growth of the market include the increasing investments in renewable energy and reducing costs of grid-scale batteries owing to technological advancements and expanded deployment.

Grid-Scale Battery Market Overview:
By Application
• Renewable Integration
• Peak Shift
• Ancillary Services
• Back-Up Power
• Others

• By Type
o Lithium-Ion
o Lead Acid
o Flow
o Sodium Based
o Others
• By Ownership-Model
o Third-Party Owned
o Utility Owned

Asia Pacific is expected to be the fastest-growing market for grid-scale batteries during the forecast period. It is the most populated region in the world, and consequently, is witnessing a high demand for electricity. Increasing investment in transmission and distribution of power is among the major factors driving the growth of the market in Asia Pacific.

The leading players in the grid-scale battery market are LG Chem (South Korea), Samsung (South Korea), Panasonic (Japan), Fluence (US), Tesla (US), BYD Company (China), ABB (Switzerland), GE (US), GS Yuasa (Japan), Toshiba (Japan), Saft (France), S&C Electric (US), and NGK Insulators (Japan).

Find Report Copy on” Grid-Scale Battery Market by Type (Lithium-Ion, Lead Acid, Flow Battery, Sodium-Based), by Ownership-Model (Third-Party, Utility), by Application (Renewable Integration, Peak Shift, Ancillary Services, Back-Up Power), and Region - Global Forecast to 2023 “ at http://www.rnrmarketresearch.com/contacts/purchase?rname=1549882

The report provides a picture of the grid-scale battery market for the power industry across various regions. It forecasts and studies the size and future growth potential of the market, by type, application, ownership-model, in various regions, respectively. Furthermore, the report includes an in-depth competitive analysis of the key players in the market, along with their profiles, recent developments, and key market strategies.

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