Grid-Scale Battery Market Report: Trends, Forecast and Competitive Analysis to 2030

Grid-Scale Battery Market Trends and Forecast

The future of the global grid-scale battery market looks promising with opportunities in the renewable integration, peak shift, ancillary services, and back-up power applications. The global grid-scale battery market is expected to reach an estimated $26.6 billion by 2030 with a CAGR of 30.2% from 2024 to 2030. The major drivers for this market are increasing demand for battery based renewable energy, growing preference for molten salt batteries ,and significant growth in rural electrification.

A more than 150-page report is developed to help in your business decisions.

Grid-Scale Battery Market by Segment

The study includes a forecast for the global grid-scale battery market by type, ownership model, application, and region.

Grid-Scale Battery Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Lithium-Ion
• Lead Acid
• Flow
• Sodium Based
• Others

Grid-Scale Battery Market by Ownership Model [Shipment Analysis by Value from 2018 to 2030]:

• Third-Party Owned
• Utility Owned

Grid-Scale Battery Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Renewable Integration
• Peak Shift
• Ancillary Services
• Back-Up Power
• Others

Grid-Scale Battery Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Grid-Scale Battery Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies grid-scale battery companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the grid-scale battery companies profiled in this report include-

• LG Chem
• Samsung
• Panasonic
• Fluence
• Tesla
• BYD
• ABB
• GE
• GS Yuasa
• Toshiba

Grid-Scale Battery Market Insights

• Lucintel forecast that lithium-ion is expected to witness highest growth over the forecast period due to its substantial application in numerous energy sources owing to its features, such as high energy density, quick recharge, high discharge power, light weight, and long life.

• Renewable integration is expected to witness highest growth over the forecast perioddue to significant use of renewable energy sources like solar and wind in the grid-scale batteries.

• North America is expected to witness highest growth over the forecast period due to availability of major grid scale battery storage systems and growing need for battery storage powered by renewable energy in the residential, non-residential, and utility sectors of the region.

Features of the Global Grid-Scale Battery Market

• Market Size Estimates: Grid-scale battery market size estimation in terms of value ($B).

• Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

• Segmentation Analysis: Grid-scale battery market size by type, ownership model, application, and region in terms of value ($B).

• Regional Analysis: Grid-scale battery market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

• Growth Opportunities: Analysis of growth opportunities in different type, ownership model, application, and region for the grid-scale battery market.

• Strategic Analysis: This includes M&A, new product development, and competitive landscape of the grid-scale battery market.

• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1. What is the grid-scale battery market size?

Answer: The global grid-scale battery market is expected to reach an estimated $26.6 billion by 2030.

Q.2. What is the growth forecast for grid-scale battery market?

Answer: The global grid-scale battery market is expected to grow with a cagr of 30.2% from 2024 to 2030

Q.3. What are the major drivers influencing the growth of the grid-scale battery market?

Answer: The major drivers for this market are increasing demand for battery based renewable energy growing preference for molten salt batteries significant growth in rural electrification

Q.4. What are the major segments for grid-scale battery market?

Answer: The future of the grid-scale battery market looks promising with opportunities in the renewable integration, peak shift, ancillary services, and back-up powerapplications.

Q.5. Who are the key grid-scale battery market companies?

Answer: Some of the key grid-scale battery companies are as follows:

• LG Chem
• Samsung
• Panasonic
• Fluence
• Tesla
• BYD
• ABB
• GE
• GS Yuasa
• Toshiba

Q.6. Which Grid-scale battery market segment will be the largest in future?

Answer: Lucintel forecast that lithium-ion is expected to witness highest growth over the forecast period due to its substantial application in numerous energy sources owing to its features, such as high energy density, quick recharge, high discharge power, light weight, and long life.

Q.7. In grid-scale battery market, which region is expected to be the largest in next 5 years?

Answer: North America is expected to witness highest growth over the forecast period due to availability of major grid scale battery storage systems and growing need for battery storage powered by renewable energy in the residential, non-residential, and utility sectors of the region.

Q.8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the grid-scale battery market by type (lithium-ion, lead acid, flow battery, sodium-based, and others), ownership model (third-party and utility), application (renewable integration, peak shift, ancillary services, back-up power, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?