Grid Scale Battery Market Scenario
Market Research Future published a raw research report Global Grid scale battery Market that contains the information from 2018 to 2023. The Global Grid scale battery Market is expected to grow at 32% CAGR from 2018 to 2023.
Grid scale battery are collection of methods used to store electric energy on large scale within electric power grid. Grid scale battery are mostly used in services such as load management, power quality and UPS. Numerous batteries are used for grid application according to their power capabilities. Pumped-hydro station uses the services like load management due to their large power capabilities.
Grid scale battery are collection of methods used to store electric energy on large scale within electric power grid. Grid scale battery are mostly used in services such as load management, power quality and UPS. Numerous batteries are used for grid application according to their power capabilities. Pumped-hydro station uses the services like load management due to their large power capabilities.
The rising demand for grid scale battery is driven by advancement of technology, rapid development in American countries. According to Energy storage news , US is building 15MW / 30MWh of battery energy storage pairing with 10MW of solar energy. This will give boost to Infrastruction and development in US. It is estimated that the growth will continue during the forecast period. North America market for Grid scale battery is estimated to witness high growth during the forecast period due to the rising demand for natural gases and the requirement for efficient production systems.
Segmental Analysis
The global grid scale battery market is further segmented in three segments by battery type, by power Generation and by application.
Battery type further sub-segmented as Lithium-ion batteries, flow batteries, Zinc-hybrid batteries, Sodium-Based Battery, Lithium-ion batteries is leading in this segment as these batteries are highly use in UPS having good efficiency.
Power Generation is sub segmented into power capacity or rating and energy capacity, Power capacity is leading in this segment.
Region is segmented into Europe, North America, Asia Pacific, Rest of the world. North America region is dominating in grid scale battery market due to government support and industries shifting towards renewable energy
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Regional Industry Analysis
The regional analysis of the grid scale battery market consists of regions such as Asia Pacific, Europe, North America and rest of world. The grid scale battery market globally is projected to flourish owing to the upsurge in investment in renewable energy, and the dropping prices of the grid-scale battery. Moreover, firms included in this sector are increasingly focusing on R & D to guarantee improved operational efficiency because of the rising fleet players in the market. The North American region is controlling this market owing to the surge of renewable energy in the residential sector, primarily due to the initiatives and measures that have been taken to pave the way for utility-scale policy and storage development. The solar development is adding to a new complementary technology area which eventually is helping the growth in the grid scale battery market.
Leading Players
The chief competitors in the grid scale battery market globally are Samsung (South Korea), Fluence (US), Tesla (US), GS Yuasa (Japan), Panasonic (Japan), LG Chem (South Korea), BYD Company (China), Saft (France), S&C Electric (US), ABB (Switzerland), GE (US), Toshiba (Japan), and NGK Insulators (Japan).
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