Market Overview:
The global grid-scale electricity storage market is expected to grow from USD 2.02 Billion in 2018 to USD 10.14 Billion by 2030, at a CAGR of 23.5% from 2018 to 2030. The growth of the grid-scale electricity storage market can be attributed to the increasing demand for renewable energy and the need for ancillary services. Based on type, the lithium-ion segment is expected to lead the global grid-scale electricity storage market during the forecast period.
Product Definition:
Grid-scale electricity storage is the use of large electrical storage devices to store energy for delivery into the electric grid. The importance of grid-scale electricity storage lies in its ability to improve system reliability, provide ancillary services, and help manage variable renewable generation.
Lithium-Ion:
Lithium-ion (Li-ion) is a rechargeable battery technology that uses lithium ions as the basic unit of charge. Lithium ion is an electronic ion, which consists of one lithiated and neutral atom (lithium) located between two electrodes (positive & negative). The technology has several benefits over traditional batteries such as high energy density, low self-discharge rate, lightweight & small size with fast charging time.
Lead Acid:
Lead acid is the most common type of battery, which is used in various applications such as automotive, grid-scale storage and electronics. Lead acid batteries are manufactured using lead (Pb), antimony (Sb) and sulfuric acid. These batteries find major application in power generation for back up systems, UPS & solar energy storage system as well as electric vehicles.
Application Insights:
The renewable energy application segment accounted for the largest market share of around 40% in 2017. The growth can be attributed to the increasing deployment of solar and wind power across various countries, such as Germany, China, Spain and the U.S., which are majorly contributing to global electricity demand.
Ancillary services are expected to witness a CAGR of XX% from 2018 to 2030 owing to growing investments in new ancillary service projects that provide backup power during peak hours when conventional generators are operating at their limits due largely both internal and external factors such as load patterns on primary grids as well as weather conditions that cause outages or fluctuations in conventional generation plants.
Regional Analysis:
Asia Pacific regional market accounted for the largest share of global revenue in 2016. The region is anticipated to witness significant growth over the forecast period owing to increasing demand-supply gap and rising investment in storage projects. Rising renewable integration, especially solar PV and wind power, is expected to drive grid-scale electricity storage systems across Asia Pacific countries such as China, India, South Korea, Japan among others.
North America was one of the major markets accounting for a share of over 20% in 2016 owing to early adoption by several U.
Growth Factors:
- Increasing demand for grid-scale electricity storage from utilities and commercial and industrial (C&I) customers to reduce energy costs, improve reliability, and comply with emissions regulations
- Advances in battery technology that increase energy density, reduce costs, and improve safety
- Growth in renewable energy sources such as wind and solar that create more variable power output that needs to be stored for later use
- Regulatory incentives or mandates supporting the deployment of grid-scale storage systems
- Increased interest from venture capitalists and other investors in the grid-scale storage market
Scope Of The Report
Report Attributes
Report Details
Report Title
Grid-Scale Electricity Storage Market Research Report
By Type
Lithium-Ion, Lead Acid, Others
By Application
Renewable Integration, Ancillary Services, Others
By Companies
ABB Group, Fluence Energy, LG Chem Ltd., NGK Insulators Ltd., BYD Co. Ltd., Hitachi Ltd., Mitsubishi Electric Corp., Samsung SDI Co. Ltd., Panasonic Corp., GS Yuasa Corp., General Electric, Sumitomo Electric Industries, Ltd.
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
231
Number of Tables & Figures
162
Customization Available
Yes, the report can be customized as per your need.
Global Grid-Scale Electricity Storage Market Report Segments:
The global Grid-Scale Electricity Storage market is segmented on the basis of:
Types
Lithium-Ion, Lead Acid, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Renewable Integration, Ancillary Services, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABB Group
- Fluence Energy
- LG Chem Ltd.
- NGK Insulators Ltd.
- BYD Co. Ltd.
- Hitachi Ltd.
- Mitsubishi Electric Corp.
- Samsung SDI Co. Ltd.
- Panasonic Corp.
- GS Yuasa Corp.
- General Electric
- Sumitomo Electric Industries, Ltd.
Highlights of The Grid-Scale Electricity Storage Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Lithium-Ion
- Lead Acid
- Others
- By Application:
- Renewable Integration
- Ancillary Services
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Grid-Scale Electricity Storage Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Grid-scale electricity storage is a technology that allows for the temporary or long-term storage of electrical energy on an industrial scale. This can be used to help meet peak demand, stabilize prices, and support renewable energy sources.
Some of the key players operating in the grid-scale electricity storage market are ABB Group, Fluence Energy, LG Chem Ltd., NGK Insulators Ltd., BYD Co. Ltd., Hitachi Ltd., Mitsubishi Electric Corp., Samsung SDI Co. Ltd., Panasonic Corp., GS Yuasa Corp., General Electric, Sumitomo Electric Industries, Ltd..
The grid-scale electricity storage market is expected to grow at a compound annual growth rate of 23.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Grid-Scale Electricity Storage Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Grid-Scale Electricity Storage Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Grid-Scale Electricity Storage Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Grid-Scale Electricity Storage Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Grid-Scale Electricity Storage Market Size & Forecast, 2018-2028
4.5.1 Grid-Scale Electricity Storage Market Size and Y-o-Y Growth
4.5.2 Grid-Scale Electricity Storage Market Absolute $ Opportunity
Chapter 5 Global Grid-Scale Electricity Storage Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Grid-Scale Electricity Storage Market Size Forecast by Type
5.2.1 Lithium-Ion
5.2.2 Lead Acid
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Grid-Scale Electricity Storage Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Grid-Scale Electricity Storage Market Size Forecast by Applications
6.2.1 Renewable Integration
6.2.2 Ancillary Services
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Grid-Scale Electricity Storage Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Grid-Scale Electricity Storage Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Grid-Scale Electricity Storage Analysis and Forecast
9.1 Introduction
9.2 North America Grid-Scale Electricity Storage Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Grid-Scale Electricity Storage Market Size Forecast by Type
9.6.1 Lithium-Ion
9.6.2 Lead Acid
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Grid-Scale Electricity Storage Market Size Forecast by Applications
9.10.1 Renewable Integration
9.10.2 Ancillary Services
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Grid-Scale Electricity Storage Analysis and Forecast
10.1 Introduction
10.2 Europe Grid-Scale Electricity Storage Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Grid-Scale Electricity Storage Market Size Forecast by Type
10.6.1 Lithium-Ion
10.6.2 Lead Acid
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Grid-Scale Electricity Storage Market Size Forecast by Applications
10.10.1 Renewable Integration
10.10.2 Ancillary Services
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Grid-Scale Electricity Storage Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Grid-Scale Electricity Storage Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Grid-Scale Electricity Storage Market Size Forecast by Type
11.6.1 Lithium-Ion
11.6.2 Lead Acid
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Grid-Scale Electricity Storage Market Size Forecast by Applications
11.10.1 Renewable Integration
11.10.2 Ancillary Services
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Grid-Scale Electricity Storage Analysis and Forecast
12.1 Introduction
12.2 Latin America Grid-Scale Electricity Storage Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Grid-Scale Electricity Storage Market Size Forecast by Type
12.6.1 Lithium-Ion
12.6.2 Lead Acid
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Grid-Scale Electricity Storage Market Size Forecast by Applications
12.10.1 Renewable Integration
12.10.2 Ancillary Services
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Grid-Scale Electricity Storage Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Grid-Scale Electricity Storage Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Grid-Scale Electricity Storage Market Size Forecast by Type
13.6.1 Lithium-Ion
13.6.2 Lead Acid
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Grid-Scale Electricity Storage Market Size Forecast by Applications
13.10.1 Renewable Integration
13.10.2 Ancillary Services
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Grid-Scale Electricity Storage Market: Competitive Dashboard
14.2 Global Grid-Scale Electricity Storage Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB Group
14.3.2 Fluence Energy
14.3.3 LG Chem Ltd.
14.3.4 NGK Insulators Ltd.
14.3.5 BYD Co. Ltd.
14.3.6 Hitachi Ltd.
14.3.7 Mitsubishi Electric Corp.
14.3.8 Samsung SDI Co. Ltd.
14.3.9 Panasonic Corp.
14.3.10 GS Yuasa Corp.
14.3.11 General Electric
14.3.12 Sumitomo Electric Industries, Ltd.
