DUBLIN, March 6, 2020 /PRNewswire/ -- The "Global Grid-Scale Battery Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2019 To 2027" report has been added to ResearchAndMarkets.com's offering.
The grid-scale battery market was valued at US$ 2.22 billion in 2018 and expected to grow at a CAGR of 22% during the forecast period from 2019 to 2027.
Large-scale addition of renewable energy into the grid worldwide will upgrade the market growth during the forecast period.
In a prompt to encourage the development and utilization of renewable energy sources, countries across the world are setting up a large number of renewable power projects like solar, and wind power plants. The increasing capacity and rising number of renewable power projects have caused the expansion of the grid-scale battery market globally. In addition, the grid-scale batteries ensure the storage of superfluous power during the time of overproduction. The ongoing upsurge in the renewable power projects expected to boost the market for grid-scale batteries in the upcoming years.
Increasing renewable investments and government subsidies for enhancing clean energy projects will ramp up the grid-scale battery market.
Substantial investments and developments in renewable projects are driving down the cost of lithium-ion batteries, thereby increasing the demand for grid-scale batteries. The developments in the grid-scale battery system are being driven by up-gradation of aging infrastructures, favorable market and regulation, improving system costs, and increased access to finance by both local and government bodies. In addition, unlocking of new geographic markets and opening of the market for energy storage will spur the market growth. For instance, according to World Storage Energy Forum in 2017, the battery storage holds a smaller market and expected to hold a total installed capacity of around 14 GW for grid-scale battery in the coming years.
Key Topics Covered
2. Executive Summary
2.1. Market Snapshot: Global Grid-Scale Battery (GSB) Market
2.2. Global GSB Market, by Battery Type, 2018 (US$ Bn)
2.3. Global GSB Market, by Application, 2018 (US$ Bn)
2.4. Global GSB Market, by Geography, 2018 (US$ Bn)
3. Market Dynamics
3.1.1. Global GSB Market Value, 2017-2027, (US$ Bn)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.3. Attractive Investment Proposition, by Geography, 2018
3.4. Market Positioning of Key Players, 2018
3.4.1. Major Strategies Adopted by Key Players
4. Global Grid-Scale Battery (GSB ) Market, by Battery Type, 2017-2027 (US$ Bn)
4.3. Lead Acid
4.4. Flow Battery
4.5. Sodium-Based Battery
4.6. Others (Ni-Cd, NiMH, NiI, etc.)
5. Global Grid-Scale Battery (GSB ) Market, by Application, 2017-2027 (US$ Bn)
5.2. Renewable Integration
5.3. Peak Shift
5.4. Ancillary Services
5.5. Back-Up Power
6. North America Grid-Scale Battery (GSB) Market Analysis, 2017-2027 (US$ Bn)
7. Europe Grid-Scale Battery (GSB) Market Analysis, 2017-2027 (US$ Bn)