Press release
Grid-Scale Battery Market to Surpass USD 48.7 Billion by 2032 | DataM Intelligence
Grid-Scale Battery Market
According to DataM Intelligence, the Global Grid‐Scale Battery Market was valued at USD 10.07 billion in 2023 and is projected to reach USD 48.71 billion by 2032, growing at a robust CAGR of 18.2% (2024-2032). The rapid market growth is fueled by the rising deployment of renewable energy sources, utility-scale storage initiatives, and technological advances in Battery Energy Storage Systems (BESS) that enhance grid stability and efficiency.
Grid‐scale batteries are increasingly vital to modern power infrastructure, enabling operators to store excess energy for later use and enhance system reliability. With accelerating electrification efforts and the integration of intermittent renewable resources such as solar and wind, large-scale energy storage has emerged as a cornerstone technology in creating a sustainable and resilient energy network. North America held the largest market share of 54.12% in 2023, while Asia Pacific is projected to record the fastest growth rate through 2032, led by renewable energy projects in China, India, Japan, and Australia.
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Key Highlights from the Report
➤ The global grid‐scale battery market projected to reach USD 48.71 billion by 2032 with an 18.2% CAGR.
➤ North America dominated the global share (54.12%) in 2023, supported by federal clean energy policies.
➤ Asia Pacific forecasted as the fastest-growing region due to increasing renewable energy integration.
➤ The utility-owned segment continues to lead as operators invest in grid‐stabilizing storage systems.
➤ Advancements in lithium‐ion and molten salt battery technologies enhance cost efficiency and durability.
➤ Growing focus on decarbonization, grid flexibility, and electrification expands long-term market potential.
Market Segmentation
The grid‐scale battery market is categorized by battery chemistry, ownership, and application, each contributing uniquely to the growth trajectory.
By Battery Chemistry
Lithium-ion batteries dominate the market due to their established supply chain, high efficiency, and cost competitiveness. They account for over 90% of installed capacity in large-scale energy storage projects. In addition, molten salt and sodium-based batteries are gaining traction, celebrated for sustainability benefits and reduced reliance on critical materials.
By Ownership
The utility-owned segment holds a substantial market share as public and private utilities increase investments to enhance grid reliability and optimize energy resources. Utilities are favoring direct ownership models to gain operational control and align with regional energy storage and decarbonization mandates.
By Application
The renewables segment dominates usage as storage systems become indispensable for solar and wind energy integration, load management, and grid balancing. Batteries allow energy arbitrage-charging during low-price periods and discharging during peak demand-providing strong economic incentives and improved renewable utilization.
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Regional Insights
North America leads the global market, valued at USD 5.45 billion in 2023, driven by consistent policy support, tax incentives, and increased private investments in large-scale renewable storage. The U.S. grid‐scale battery market is projected to grow significantly, with strong utility partnerships and expansion of renewable-rich grids.
Asia Pacific is expected to witness the fastest CAGR during the forecast period. China remains the largest contributor, supported by massive state-led renewable energy investments and growing smart-grid infrastructure. India and Japan are also reinforcing adoption through national energy storage missions and public‐private collaborations.
Europe continues to strengthen its presence, focusing on local manufacturing and grid modernization through programs such as the Just Transition Fund and Recovery and Resilience Facility, which prioritize sustainable energy investments post‐COVID-19.
Market Dynamics
Market Drivers:
Accelerated renewable energy adoption, government incentives, and the need for flexible energy management are the main growth catalysts. Declining battery production costs and evolving material innovations enhance performance while improving affordability for utilities.
Market Restraints:
Initial installation and maintenance costs remain high, particularly for lithium-ion systems requiring advanced thermal management. Supply disruptions of critical materials such as nickel and cobalt can further constrain scalability.
Market Opportunities:
The rising trend of hybrid renewable-storage projects and innovations in flow and sodium batteries present attractive opportunities. Increasing focus on grid resilience, carbon neutrality goals, and utility‐scale energy optimization support long-term sustainability.
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Reasons to Buy the Report
✔ Get a detailed overview of global grid-scale battery investment trends and growth areas.
✔ Identify leading technology segments and future adoption drivers across major geographies.
✔ Understand competitive strategies, product innovations, and market share dynamics.
✔ Analyze government policies accelerating renewable energy storage deployment.
✔ Explore technological advancements reshaping cost efficiency and grid reliability.
Frequently Asked Questions (FAQs)
◆ How big is the global grid‐scale battery market in 2025?
◆ Which region dominates the grid‐scale battery market growth?
◆ What is the projected CAGR of the grid‐scale battery market through 2032?
◆ Who are the top companies operating in the global grid‐scale battery market?
◆ What major factors are driving the adoption of grid‐scale energy storage systems?
Company Insights
Samsung SDI Co., Ltd.
NGK Insulators, Ltd.
BYD Company Ltd.
General Electric
Redflow Limited
Ambri Incorporated
VRB Energy
24M Technologies, Inc.
Lockheed Martin Corporation
FZSONICK SA
KORE Power, Inc.
Recent Developments:
In September 2022, NGK Insulators announced a major 11.4 MW/69.6 MWh sodium‐sulfur (NAS) battery system installation at Japan's Tsu LNG Station, slated for completion by FY2025.
In September 2022, Redflow Limited collaborated with the University of Queensland to enhance Zinc Bromine Module (ZBM) battery chemistry under the Australian Research Hub for Safe and Reliable Energy Storage initiative.
In May 2021, 24M Technologies raised USD 56.8 million in Series E funding to commercialize its cost‐efficient semisolid manufacturing process for grid and EV applications, supported by ITOCHU Corporation.
Conclusion
The Grid‐Scale Battery Market is on a transformative growth path, underpinned by rapid renewable integration, government support, and innovative storage technologies. As utilities prioritize energy flexibility and sustainability, grid‐scale batteries are emerging as the backbone of future energy systems. With North America leading deployment and Asia Pacific rapidly industrializing, global investments in large‐scale energy storage will define the next phase of clean energy advancement through 2032.
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Mr. Sai Kiran
DataM Intelligence 4market Research LLP Ground floor
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Uppal, Hyderabad, Telangana 500039
USA: +1 877-441-4866
Email: Sai.k@datamintelligence.com
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About Us
DataM Intelligence 4Market Research is a comprehensive market intelligence platform offering syndicated and customized reports along with expert consulting across multiple industries, including chemicals, healthcare, agriculture, food & beverages, and more. With extensive experience and a strategy-focused approach, DataM provides businesses and individuals with reliable market insights, statistical forecasts, and personalized research solutions to help them make informed decisions and successfully bring innovations to market.
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