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.
Some of the Key
Questions answered in this exclusive report are:
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?
Market Segmentation:
In this market,
lithium-ion, lead acid, flow, and sodium-basedare the major segments of
grid-scale battery market by type. 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.Within this market, 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.
LG Chem, Samsung,
Panasonic, Fluence, Tesla, BYD Company, ABB, GE, GS Yuasa, and Toshiba are the
major suppliers in the grid-scale battery market.
About
Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It offers market assessments, competitive analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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