Market Overview:
The global grid-connected battery storage market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for energy storage solutions due to the rise in renewable energy installations. In addition, government initiatives and regulations supporting the deployment of grid-connected battery storage systems are also contributing to the growth of this market. The grid-connected battery storage market can be segmented on the basis of type, application, and region. On the basis of type, it can be divided into battery enclosures, battery charge controllers, and sub panels for load circuits. The application segment includes solar energy and wind power energy. Regionally, it can be classified into North America, Latin America, Europe Asia Pacific (APAC), and Middle East & Africa (MEA).
Product Definition:
Grid-connected battery storage is a type of energy storage system that is connected to the electricity grid. It allows utilities to store excess energy from renewable sources, such as wind and solar, and use it when demand for electricity is high. This helps reduce the need for fossil fuels to meet peak demand and improves the reliability of the grid.
Battery Enclosures:
Battery enclosures are used to contain and protect batteries from the external environment. They can be made of plastic, metal or other materials. The primary function of battery enclosures is to prevent the contact between the battery terminals and any metallic object such as a car door handle or an iron nail. Battery Enclosures also provide thermal management in case of high temperature rise which could damage sensitive batteries.
Battery Charge Controller:
A battery charge controller is an electronic device that regulates the charging of a battery. It works as an intelligent circuit to prevent overcharging and undercharging of batteries. The main function of a charge controller is to protect the battery from damage due to too much current flow or voltage fluctuations, which can lead to overheating and explosion.
Application Insights:
The solar energy segment dominated the global grid-connected battery storage market in 2017 and is expected to witness significant growth over the forecast period. Increasing number of installations coupled with favorable government policies for promoting renewable sources of energy is anticipated to drive demand over the forecast period.
Various financial subsidies offered by governments across various countries have resulted in increased penetration of residential and commercial solar systems, thereby driving demand for GBCS. In addition, increasing need to reduce carbon emissions has led to a surge in adoption of GBCS solutions across numerous industries such as power generation, transportation and healthcare among others.
The wind power energy segment is also expected register considerable growth during the forecast period owing to growing awareness about renewable sources of energy among consumers around the globe along with an increase in onshore & offshore wind capacity construction projects undertaken by various governments worldwide.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The region accounted for a share of more than 30% in 2016 and is anticipated to witness significant growth over the next eight years. This can be attributed to increasing demand for renewable energy, especially solar power, across countries such as China and India. Moreover, growing awareness regarding grid-connected battery storage systems among end users will drive regional market growth further.
The Asia Pacific was followed by North America with a share of around 20% in 2016 owing to early adoption of grid-connected battery storage systems by several large commercial customers in U.S., Canada, and Mexico cities along with high penetration rate of CSP plants in California state (U.S.). Europe also has a considerable contribution owing to early adoption by residential consumers as well as large scale projects undertaken by governments such as those installed batteries at Torness nuclear plant or River Tweed Hydro Electric Scheme (Scotland).
Growth Factors:
- Increasing demand for grid-connected battery storage systems from commercial and industrial sectors to store energy generated from renewable sources.
- Favorable government policies and regulations for the deployment of grid-connected battery storage systems.
- Growing demand for reliable and efficient power backup solutions due to increasing number of unplanned power outages across the globe.
- Rising concerns over climate change and air pollution, which is driving the adoption of renewable energy sources, thereby boosting the market growth for grid-connected battery storage systems.
Scope Of The Report
Report Attributes
Report Details
Report Title
Grid-Connected Battery Storage Market Research Report
By Type
Battery Enclosures, Battery Charge Controller, Sub Panels For Load Circuits
By Application
Solar Energy, Wind Power Energy
By Companies
NGK Insulators, Samsung SDI, Younicos, LG, Johnson Controls, SANYO Electric, Panasonic, GS Yuasa, Sumitomo, BYD Auto, AES, A123 Systems
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
232
Number of Tables & Figures
163
Customization Available
Yes, the report can be customized as per your need.
Global Grid-Connected Battery Storage Market Report Segments:
The global Grid-Connected Battery Storage market is segmented on the basis of:
Types
Battery Enclosures, Battery Charge Controller, Sub Panels For Load Circuits
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
Solar Energy, Wind Power Energy
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:
- NGK Insulators
- Samsung SDI
- Younicos
- LG
- Johnson Controls
- SANYO Electric
- Panasonic
- GS Yuasa
- Sumitomo
- BYD Auto
- AES
- A123 Systems
Highlights of The Grid-Connected Battery 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:
- Battery Enclosures
- Battery Charge Controller
- Sub Panels For Load Circuits
- By Application:
- Solar Energy
- Wind Power Energy
- 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-Connected Battery 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
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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-connected battery storage is a type of energy storage that uses batteries to store electricity generated from renewable sources, such as solar or wind power. The stored energy can be used to provide power when the grid is unavailable or when prices are high. Grid-connected battery systems can also help stabilize the electric grid by providing an extra source of electricity during times of peak demand.
Some of the major companies in the grid-connected battery storage market are NGK Insulators, Samsung SDI, Younicos, LG, Johnson Controls, SANYO Electric, Panasonic, GS Yuasa, Sumitomo, BYD Auto, AES, A123 Systems.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Grid-Connected Battery Storage Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Grid-Connected Battery Storage Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Grid-Connected Battery Storage Market - Supply Chain
4.5. Global Grid-Connected Battery Storage Market Forecast
4.5.1. Grid-Connected Battery Storage Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Grid-Connected Battery Storage Market Size (000 Units) and Y-o-Y Growth
4.5.3. Grid-Connected Battery Storage Market Absolute $ Opportunity
5. Global Grid-Connected Battery Storage Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Grid-Connected Battery Storage Market Size and Volume Forecast by Type
5.3.1. Battery Enclosures
5.3.2. Battery Charge Controller
5.3.3. Sub Panels For Load Circuits
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Grid-Connected Battery Storage Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Grid-Connected Battery Storage Market Size and Volume Forecast by Application
6.3.1. Solar Energy
6.3.2. Wind Power Energy
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Grid-Connected Battery Storage Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Grid-Connected Battery Storage Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Grid-Connected Battery Storage Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Grid-Connected Battery Storage Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Grid-Connected Battery Storage Demand Share Forecast, 2019-2026
9. North America Grid-Connected Battery Storage Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Grid-Connected Battery Storage Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Grid-Connected Battery Storage Market Size and Volume Forecast by Application
9.4.1. Solar Energy
9.4.2. Wind Power Energy
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Grid-Connected Battery Storage Market Size and Volume Forecast by Type
9.7.1. Battery Enclosures
9.7.2. Battery Charge Controller
9.7.3. Sub Panels For Load Circuits
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Grid-Connected Battery Storage Demand Share Forecast, 2019-2026
10. Latin America Grid-Connected Battery Storage Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Grid-Connected Battery Storage Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Grid-Connected Battery Storage Market Size and Volume Forecast by Application
10.4.1. Solar Energy
10.4.2. Wind Power Energy
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Grid-Connected Battery Storage Market Size and Volume Forecast by Type
10.7.1. Battery Enclosures
10.7.2. Battery Charge Controller
10.7.3. Sub Panels For Load Circuits
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Grid-Connected Battery Storage Demand Share Forecast, 2019-2026
11. Europe Grid-Connected Battery Storage Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Grid-Connected Battery Storage Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Grid-Connected Battery Storage Market Size and Volume Forecast by Application
11.4.1. Solar Energy
11.4.2. Wind Power Energy
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Grid-Connected Battery Storage Market Size and Volume Forecast by Type
11.7.1. Battery Enclosures
11.7.2. Battery Charge Controller
11.7.3. Sb Panels For Load Circuits
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Grid-Connected Battery Storage Demand Share, 2019-2026
12. Asia Pacific Grid-Connected Battery Storage Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Grid-Connected Battery Storage Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Grid-Connected Battery Storage Market Size and Volume Forecast by Application
12.4.1. Solar Energy
12.4.2. Wind Power Energy
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Grid-Connected Battery Storage Market Size and Volume Forecast by Type
12.7.1. Battery Enclosures
12.7.2. Battery Charge Controller
12.7.3. Sub Panels For Load Circuits
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Grid-Connected Battery Storage Demand Share, 2019-2026
13. Middle East & Africa Grid-Connected Battery Storage Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Grid-Connected Battery Storage Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Grid-Connected Battery Storage Market Size and Volume Forecast by Application
13.4.1. Solar Energy
13.4.2. Wind Power Energy
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Grid-Connected Battery Storage Market Size and Volume Forecast by Type
13.7.1. Battery Enclosures
13.7.2. Battery Charge Controller
13.7.3. Sub Panels For Load Circuits
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Grid-Connected Battery Storage Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Grid-Connected Battery Storage Market: Market Share Analysis
14.2. Grid-Connected Battery Storage Distributors and Customers
14.3. Grid-Connected Battery Storage Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. NGK Insulators
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Samsung SDI
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Younicos
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. LG
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Johnson Controls
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. SANYO Electric
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Panasonic
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. GS Yuasa
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Sumitomo
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. BYD Auto
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. AES
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. A123 Systems
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
