Grid-Scale Battery Market Overview:

“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”,

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% during the forecast period. The growth of this market can be attributed to the increasing investments in renewable energy, reducing costs of grid-scale battery owing to technological advancements and expanded deployment, and government subsidies and regulations for enhancing energy efficiency.

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The market has been segmented on the basis of type, ownership-model, application, and region.

• By Type
  • Lithium-Ion
  • Lead Acid
  • Flow
  • Sodium Based
  • Others
• By Ownership-Model
  • Third-Party Owned
  • Utility Owned
• By Application
  • Renewable Integration
  • Peak Shift
  • Ancillary Services
  • Back-Up Power
  • Others
• By Region
  • North America
  • Europe
  • Asia Pacific
  • RoW

Major key market players:

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)

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Target Audience:

The report’s target audience includes:

• 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

Asia Pacific is expected to dominate the grid-scale battery market during the forecast period.

The grid-scale battery market has been segmented on the basis of region into North America, Europe, Asia Pacific, and RoW. High population in APAC has resulted in the increased demand for energy; this has, in turn, amplified the need for fossil fuels. Moreover, governments of various countries in this region are striving to minimize adverse effects of the energy sector on the environment. These factors are encouraging the deployment of grid-scale batteries in residential and utility applications.

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Lithium-ion batteries to hold the largest share of the grid-scale battery market throughout the forecast period

Lithium-ion batteries have high energy and power density, which allows these batteries to be lightweight with less standby losses and high life expectancy of 5–15 years with 98% efficiency. In addition, these batteries are lighter in weight than nickel-cadmium and nickel metal-hydride batteries. These features are expected to drive the growth of the grid-scale battery market for lithium-ion batteries.