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Market Research Report
Grid-Scale Electricity Storage Technologies: Global Markets |
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| Published by | BCC Research | Product code | 982518 | ||||
| Published | Content info | 170 Pages Delivery time: 1-2 business days |
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| Grid-Scale Electricity Storage Technologies: Global Markets | ||
| Published: January 13, 2021 | Content info: 170 Pages |
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The global market for grid-scale electricity storage technologies should grow from $1.6 billion in 2020 to $2.7 billion by 2025, at compound annual growth rate (CAGR) of 10.6% for the period of 2020-2025.
The European market for grid-scale electricity storage technologies should grow from $644.9 million in 2020 to $1.1 billion by 2025, at a CAGR of 10.6% for the period of 2020-2025.
The North American market for grid-scale electricity storage technologies should grow from $574.5 million in 2020 to $972.7 million by 2025, at a CAGR of 11.1% for the period of 2020-2025.
The scope of this investigation includes the major viable grid-scale electricity storage technologies that are currently being implemented in the power generation industry. These technologies are implemented in order to temporarily store electricity during periods of available generation capacity, for subsequent use during periods of increased demand in support of load leveling, grid balancing and renewable energy integration and intermittent generation balancing. The grid-scale battery storage technologies discussed in this report are increasingly deployed in support of intermittent renewable energy sources, such as solar and wind energy, which frequently generate power outside of peak demand periods. In these cases, grid-scale electricity storage technologies facilitate delivery of renewable power to end users during periods of high and peak use. This supports utility-level regulations and greenhouse gas (GHG) emissions reduction strategies, which are increasingly common in the global electricity market.
The market analysis provided in this report is based on a variety of data sources. These include the most recent government, industry and academic data regarding the projected level of demand for utility-scale electricity storage technologies that could potentially translate into grid-scale battery storage projects. These data were supplemented with an evaluation of major utility electricity storage (UES) and renewable (solar and wind) projects that have been announced or that are currently being proposed. This report provides a comprehensive review of available data in order to provide a realistic, robust and accurate assessment of this quickly changing market.
BCC Research analyzes each major, viable grid-scale battery storage technology, determines the current market status, examines the impact on future markets and presents forecasts for growth over the next 10 years. Technological issues, including the latest trends, are assessed and discussed, as are the current and likely regulatory environments in support of this industry.
BCC Research analyzes the global industry in terms of its manufacturing and the deployment of its technologies or products. BCC Research examines government roles in support of grid-scale battery storage technologies, worldwide, including regulatory support, government requirements and promotional incentives for various grid-scale electricity storage technologies. BCC Research provides a review of the most relevant grid-scale electricity storage technologies, discusses recent trends in capacity installation and unit sales and provides industry overviews and market assessments for each grid-scale electricity storage technology.
