Grid-Scale Battery Market to Witness Huge Growth by Key Players: LG Chem, Samsung, Panasonic, Fluence, Tesla, BYD Company, ABB, GE, GS Yuasa, Saft, NGK Insulators and Others.
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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. This report spread across 139 pages, profiling 13 companies and supported with 73 tables and 39 figures are now available in this research.
Top Companies Profiled in the Grid-Scale Battery Market:
o LG Chem (South Korea)
o Samsung (South Korea)
o Panasonic (Japan)
o Fluence (US)
o Tesla (US)
o BYD Company (China)
o ABB (Switzerland)
o GE (US)
o GS Yuasa (Japan)
o Toshiba (Japan)
o Saft (France)
o S&C Electric (US)
o NGK Insulators (Japan)
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"Renewable integration is expected to hold the largest share of the grid-scale battery market, by application, throughout the forecast period."
The grid-scale battery market has been segmented on the basis of application into renewable integration, peak shifting, ancillary services, back-up power, and others (include ingmicrogrids, ramping, black start, and transmission/distribution upgrade deferral).Factors such as attainment of renewable targets and energy efficiency, and increased reliability, security and resiliency of micro grid applications are expected to drive the growth of the grid-scale battery market for renewable integration during the forecast period.
"Asia Pacific: Major market for grid-scale batteries"
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 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.
Breakdown of primary participants' profile:
o By Company Type: Tier 1-55%, Tier 2-31%, Tier 3-14%
o By Designation: C-Level Executives-28%, Directors-36%, Others-36%
o By Region: North America-35%, Europe-28%, Asia Pacific-24%, RoW-13%
Competitive Landscape of Grid-Scale Battery Market:
2 Ranking of Players & Industry Concentration, 2017
3 Competitive Scenario
3.1 Contract & Agreement
3.2 New Product Launch
3.3 Investment & Expansion
3.4 Joint Venture/Divestment/Merger & Acquisition/Partnership & Collaboration/ Strategic Alliance
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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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