Market Overview:
The global grid-side energy storage market is expected to grow from USD 1.02 Billion in 2018 to USD 3.81 Billion by 2030, at a CAGR of 16.92% from 2018 to 2030. The growth of the grid-side energy storage market can be attributed to the increasing demand for peak shaving and frequency modulation, rising concerns over climate change and greenhouse gas emissions, and government initiatives toward the deployment of renewable energy sources. Based on type, the grid-side energy storage market is segmented into square battery, cylindrical battery, and soft pack battery. The square battery segment is expected to hold the largest share of the global grid-side energy storage market in 2018 owing to its high capacity and low cost as compared with other types of batteries available in the market.
Product Definition:
Grid-side Energy Storage is a type of energy storage that is used to store energy locally at or near power grids. Grid-side Energy Storage systems are important because they allow utilities to store energy when it is cheap and use it when prices are high, helping to keep electricity prices stable.
Square Battery:
The global market for grid-side energy storage is expected to grow at a CAGR of XX% over the forecast period. The growth can be attributed to growing demand in commercial and residential sectors, along with government incentives across various countries. Grid-Side Energy Storage (GSEs) are batteries that are used as an alternative source of electricity generation or as a storage device for power generated from renewable sources such as wind or solar energy.
These systems have high efficiency.
Cylindrical Battery:
A cylindrical battery is a type of rechargeable battery that consists of an elongated hollow cylinder. The outer surface of the cylinder is made from non-reactive material while the inner surface consists of positive and negative electrodes. The length of the cylinder determines the capacity and power (in wattage) that can be stored by a cylindrical battery.
Application Insights:
Peak-to-valley Arbitrage (P2VA) accounted for the largest market share of around 40% in 2017. The application requires huge batteries as it reverses the power flow from a reliable source, such as a grid station to a load point, which includes residential and commercial consumers. P2VA helps stabilize the frequency of electricity supply to homes and businesses by shifting demand from low-cost off peak energy generation to high-cost on peak energy generation.
The stored energy segment is expected witness significant growth over the forecast period owing to growing concerns regarding greenhouse gas emissions and air pollution due largely to fossil fuel combustion for electricity production coupled with increasing renewable sources of energy such as wind and solar rays. Increasing investments in R&D pertaining grid storage systems are also likely drive industry expansion over next few years.
Regional Analysis:
Asia Pacific regional market accounted for the largest share of global revenue in 2017. The region is expected to continue its dominance over the forecast period owing to growing demand for clean energy and a rapidly expanding renewable power generation sector. China, India, South Korea, Japan and Australia are some of the countries with high potential for growth in this industry.
The European regional market also held a significant share in global revenue due to early adoption of GSES technologies across various sectors including residential, commercial and industrial applications. Moreover, increasing deployment across major economies such as Germany is anticipated to drive further growth over the next eight years.
Growth Factors:
- Increasing demand for grid-side energy storage systems from utilities and commercial and industrial (C&I) customers to reduce electricity costs, improve power quality, and enhance grid reliability
- Favorable regulatory environment with government incentives for energy storage projects
- Advances in battery technology that make grid-side energy storage systems more cost effective and efficient
- Growing market for electric vehicles (EVs) that will require increased capacity to charge EVs during off-peak hours
- Increased awareness of the benefits of using grid-side energy storage systems among utilities, C&I customers, and consumers
Scope Of The Report
Report Attributes
Report Details
Report Title
Grid-side Energy Storage Market Research Report
By Type
Square Battery, Cylindrical Battery, Soft Pack Battery
By Application
Peak-to-valley Arbitrage, Stored Energy, Peak Shaving and Frequency Modulation
By Companies
SDI, LG Chem, Panasonic, BYD, Narada Power, Zhongtian Technology（ZTT）, Guangzhou Great Power, CATL, Vision Power, SKI, Gotion High-tech, Shuangdeng Group
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
139
Number of Tables & Figures
98
Customization Available
Yes, the report can be customized as per your need.
Global Grid-side Energy Storage Market Report Segments:
The global Grid-side Energy Storage market is segmented on the basis of:
Types
Square Battery, Cylindrical Battery, Soft Pack Battery
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
Peak-to-valley Arbitrage, Stored Energy, Peak Shaving and Frequency Modulation
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:
- SDI
- LG Chem
- Panasonic
- BYD
- Narada Power
- Zhongtian Technology（ZTT）
- Guangzhou Great Power
- CATL
- Vision Power
- SKI
- Gotion High-tech
- Shuangdeng Group
Highlights of The Grid-side Energy 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:
- Square Battery
- Cylindrical Battery
- Soft Pack Battery
- By Application:
- Peak-to-valley Arbitrage
- Stored Energy
- Peak Shaving and Frequency Modulation
- 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-side Energy 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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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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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-side energy storage is a technology that uses electricity from the grid to store energy from renewable sources, such as solar or wind power. When the electricity needs of a customer exceed what can be supplied by the renewable source, grid-side storage can help smooth out those peaks and valleys in demand.
Some of the key players operating in the grid-side energy storage market are SDI, LG Chem, Panasonic, BYD, Narada Power, Zhongtian Technology（ZTT）, Guangzhou Great Power, CATL, Vision Power, SKI, Gotion High-tech, Shuangdeng Group.
The grid-side energy storage market is expected to grow at a compound annual growth rate of 16.92%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Grid-side Energy 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-side Energy Storage Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Grid-side Energy 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-side Energy 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-side Energy Storage Market Size & Forecast, 2020-2028
4.5.1 Grid-side Energy Storage Market Size and Y-o-Y Growth
4.5.2 Grid-side Energy Storage Market Absolute $ Opportunity
Chapter 5 Global 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 Market Size Forecast by Type
5.2.1 Square Battery
5.2.2 Cylindrical Battery
5.2.3 Soft Pack Battery
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Market Size Forecast by Applications
6.2.1 Peak-to-valley Arbitrage
6.2.2 Stored Energy
6.2.3 Peak Shaving and Frequency Modulation
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Grid-side Energy 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-side Energy 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 Market Size Forecast by Type
9.6.1 Square Battery
9.6.2 Cylindrical Battery
9.6.3 Soft Pack Battery
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 Market Size Forecast by Applications
9.10.1 Peak-to-valley Arbitrage
9.10.2 Stored Energy
9.10.3 Peak Shaving and Frequency Modulation
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 Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Market Size Forecast by Type
10.6.1 Square Battery
10.6.2 Cylindrical Battery
10.6.3 Soft Pack Battery
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 Market Size Forecast by Applications
10.10.1 Peak-to-valley Arbitrage
10.10.2 Stored Energy
10.10.3 Peak Shaving and Frequency Modulation
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 Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Market Size Forecast by Type
11.6.1 Square Battery
11.6.2 Cylindrical Battery
11.6.3 Soft Pack Battery
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 Market Size Forecast by Applications
11.10.1 Peak-to-valley Arbitrage
11.10.2 Stored Energy
11.10.3 Peak Shaving and Frequency Modulation
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 Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Market Size Forecast by Type
12.6.1 Square Battery
12.6.2 Cylindrical Battery
12.6.3 Soft Pack Battery
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 Market Size Forecast by Applications
12.10.1 Peak-to-valley Arbitrage
12.10.2 Stored Energy
12.10.3 Peak Shaving and Frequency Modulation
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) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Market Size Forecast by Type
13.6.1 Square Battery
13.6.2 Cylindrical Battery
13.6.3 Soft Pack Battery
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) Market Size Forecast by Applications
13.10.1 Peak-to-valley Arbitrage
13.10.2 Stored Energy
13.10.3 Peak Shaving and Frequency Modulation
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-side Energy Storage Market: Competitive Dashboard
14.2 Global Grid-side Energy Storage Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 SDI
14.3.2 LG Chem
14.3.3 Panasonic
14.3.4 BYD
14.3.5 Narada Power
14.3.6 Zhongtian Technology（ZTT）
14.3.7 Guangzhou Great Power
14.3.8 CATL
14.3.9 Vision Power
14.3.10 SKI
14.3.11 Gotion High-tech
14.3.12 Shuangdeng Group
