Some of the leading manufacturers and providers of grid-scale batteries are 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).Major factors driving the growth of the market include the increasing investments in renewable energy, reducing costs of grid-scale battery owing to technological advancements and expanded deployment.
According to the new research report "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.
Browse 73 market data Tables and 39 Figures spread through 139 Pages and in-depth TOC on "Grid-Scale Battery Market - Global Forecast to 2023"
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=93054442
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.
Grid-scale battery market for peak shifting applications to grow at a high rate during the forecast period
Grid-scale batteries have application in peak shifting, renewable integration, ancillary services, back-up power, and other applications. The grid-scale battery market for peak shifting applications is expected to grow at the highest rate during the forecast period. Peak shifting is a highly cost-effective method of reducing electric utility expenses.
Scope of the Report:
Grid-Scale Battery Market:
Asia Pacific is expected to dominate the grid-scale battery market during the forecast period.
In this report, the grid-scale battery market has been segemented 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.
Ask for Sample Pages of the Report @
For an in-depth understanding of the competitive landscape, profiles of some of the top players in the grid-scale battery market have been included in the report. The major market players include LG Chem (South Korea), Samsung (South Korea), Panasonic (Japan), Fluence (US), Tesla (US), and BYD Company (China).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Address:630 Dundee Road Suite 430
State: IL 60062
Country: United States