Grid Side Energy Storage Market Report: Trends, Forecast and Competitive Analysis to 2030

Grid Side Energy Storage Trends and Forecast

The future of the global grid side energy storage market looks promising with opportunities in the peak-to-valley arbitrage, stored energy, and peak shaving and frequency modulation markets. The global grid side energy storage market is expected to grow with a CAGR of 8.5% from 2024 to 2030. The major drivers for this market are increased investments in renewable energy sources, increasing popularity of electric vehicles, growing awareness regarding effective energy consumption, and rising demand to save extra energy produced.

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

Grid Side Energy Storage by Segment

The study includes a forecast for the global grid side energy storage by type, application, and region.

Grid Side Energy Storage Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Square Battery
• Cylindrical Battery
• Soft Pack Battery

Grid Side Energy Storage Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Peak-to-Valley Arbitrage
• Stored Energy
• Peak Shaving & Frequency Modulation
• Others

Grid Side Energy Storage Market by Region [Shipment Analysis by Value from 2018 to 2030]:

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

List of Grid Side Energy Storage 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 side energy storage companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the grid side energy storage companies profiled in this report include-

• SDI
• LG
• Panasonic
• BYD
• Narada Power
• Guangzhou Great Power
• CATL

Grid Side Energy Storage Market Insights

Lucintel forecasts that square battery is expected to witness largest growth over the forecast period because of higher energy density, longer cycle life, and lower cost.

North America is expected to witness highest growth over the forecast period due to growth of industrial development and rapid urbanization in the region.

Features of the Global Grid Side Energy Storage Market

Market Size Estimates: Grid side energy storage 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 side energy storage market size by type, application, and region in terms of value ($B).

Regional Analysis: Grid side energy storage market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different type, application, and regions for the grid side energy storage market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the grid side energy storage market.

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

FAQ

Q1. What is the growth forecast for grid side energy storage market?

Answer: The global grid side energy storage market is expected to grow with a CAGR of 8.5% from 2024 to 2030.

Q2. What are the major drivers influencing the growth of the grid side energy storage market?

Answer: The major drivers for this market are increased investments in renewable energy sources, increasing popularity of electric vehicles, growing awareness regarding effective energy consumption, and rising demand to save extra energy produced.

Q3. What are the major segments for grid side energy storage market?

Answer: The future of the global grid side energy storage market looks promising with opportunities in the peak-to-valley arbitrage, stored energy, and peak shaving and frequency modulation markets.

Q4. Who are the key grid side energy storage market companies?

Answer: Some of the key grid side energy storage companies are as follows:

• SDI
• LG
• Panasonic
• BYD
• Narada Power
• Guangzhou Great Power
• CATL

Q5. Which grid side energy storage market segment will be the largest in future?

Answer: Lucintel forecasts that square battery is expected to witness largest growth over the forecast period because of higher energy density, longer cycle life, and lower cost.

Q6. In grid side energy storage 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 growth of industrial development and rapid urbanization in the region.

Q7. 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 side energy storage market by type (square battery, cylindrical battery, and soft pack battery), application (peak-to-valley arbitrage, stored energy, peak shaving & frequency modulation, 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?