Home / Energy / Grid-Scale Battery Market By Battery Type (Lithium-Ion, Lead Acid, Flow Battery, Sodium-Based Battery, Others), By Application (Renewable Integration, Peak Shift, Ancillary Services, Back-Up Power, Others) - Growth, Share, Opportunities & Competitive Analysis, 2019 -2027

Grid-Scale Battery Market By Battery Type (Lithium-Ion, Lead Acid, Flow Battery, Sodium-Based Battery, Others), By Application (Renewable Integration, Peak Shift, Ancillary Services, Back-Up Power, Others) - Growth, Share, Opportunities & Competitive Analysis, 2019 -2027

Published: Jan 2020 | Report Code: 60160-01-20

Key Market Insights

“Increasing investments towards renewable energy projects and reducing cost of grid-scale batteries will boost the market”

The global grid-scale battery market is growing competently, expected to grow at a CAGR of 22.0% during the estimated period from 2019 to 2027, starting from US$ 2.22 Bn in 2018.

Grid-scale battery storage systems will play a vital role in aiding the next stage energy transition towards renewable systems. The battery storage systems offer grid services like regulation reserves, frequency response, and ramp rate control. In addition, the grid-scale battery storage systems can facilitate greater dissemination of excess generated variable renewable energy into the grid. Furthermore, batteries provide cheaper and reliable electricity in off-grid and isolated grids, thereby driving the demand for grid-scale batteries in the upcoming years.

Rapid growth in the production of renewable energy, push from the government to reduce global warming, large-scale addition of solar and wind projects, increasing transition towards low carbon electricity, and global demand for electric vehicles & consumer electronics expected to expand the market for grid-scale battery over the forecast period. For instance, according to World Energy Council (WEC) around 250 GW of energy storage is projected to get installed by 2030, owing to the growth rate for energy storage, supportive government policies, and the declining price of batteries. Additionally, the energy storage technology acts as a contributory tool in handling grid resiliency and reliability by regulating variable generation and improving smart-grid and micro-grid functionality.

Market Synopsis

Grid-Scale Battery Market

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Battery Analysis

“Reducing cost in Li-ion technology coupled with implementation of large-scale battery storage, accounts Li-ion batteries to hold a higher revenue share across the market”

Li-ion batteries are projected to hold the largest share in storage capacity additions, owing to the decreasing costs in Li-ion technology, government policies, and growing production of renewable energy to meet the rising demand for electric vehicles. For instance, in 2018, according to International Energy Agency (IEA), the Li-ion accounted for around 90% of large-scale battery storage additions. Furthermore, the integration of renewable energy with a conventional grid system increased the demand for grid-scale battery storage systems globally. For instance, Acciona Energia, a Spanish conglomerate group has integrated a Li-ion battery storage system with a wind farm in Barasoain, Spain.

The development of energy storage markets through regulatory reforms, subsequent reduce costs of Li-ion batteries through efficiencies of scale, and increased competition to drive the market growth. For instance, around 130 MWh of battery storage systems have been implemented in Hawaii, owing to provide a smooth services for wind and solar PV systems in the grid services.

Grid-Scale Battery Market

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Regional Analysis

“Dominance is led by the government policies and initiatives for large scale battery storage projects.”

The provision of incentives by the American Recovery and Reinvestment Act of 2009, in the United States, has opened a new cradle of financing for large-scale battery storage to various owners. Around 124 grid-scale energy storage projects were commissioned from 2009 to 2014, which includes ancillary services, battery storage for utility load shifting, and distributed storage for grid support. For instance, in November 2018, PG&E awarded for two largest battery contracts i.e. 182MW / 730MWh and 300MW / 2 270MWh in California.

Moreover, in 2017, San Diego Gas & Electric a utility company developed a project of 30 MW / 120 MWh Li-Ion battery storage to collection surplus power production in Escondido, U.S. The aforementioned developments for battery storage in the U.S. created an opportunity for the growth of grid-scale battery market over the forecast period. Increasing the use of renewable energy in the commercial and residential sectors, the initial measures to lead the utility-scale policy, and storage development are associated factors for the growth of the market. Furthermore, the development of new technologies in wind and solar energy is eventually facilitating the growth of the grid-scale battery market across the region.

Grid-Scale Battery Market

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List of Companies Covered:

  • LG Chem Ltd
  • Samsung SDI Co Ltd
  • Panasonic Corporation
  • Fluence Corporation Ltd
  • Tesla Inc
  • BYD Co Ltd
  • ABB Ltd.
  • General Electric Company
  • GS Yuasa Corporation
  • Toshiba Corp
  • Saft
  • S&C Electric Co
  • NGK Insulators Ltd

Grid-Scale Battery Market

Key Industry Development:

  • In July 2019, a new company of Canada announced its plan to introduce a grid-scale battery for utilities, which would offer around four times more energy and life time as compared to lithium ion batteries. 
  • In February 2019, Tata Power, an Indian based company inaugurated a grid-scale battery storage system of 10 MW/10 MWh owned by Mitsubishi and AES at Rohini sub-station in New Delhi, India.
  • In February 2019, Los Angeles announced its plan to roll-out three power plants operating with natural gas and showed interest towards grid-scale battery storage.

Historical & Forecast Period

This study report represents analysis for each segment from 2017 to 2027 considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.

Market Segmentation

 

ATTRIBUTE DETAILS
Research Period  2017-2027
Base Year 2018
Forecast Period  2019-2027
Historical Year  2017
Unit  USD Billion
Segmentation

 Battery Type (2017–2027; US$ Bn) 
 
• Lithium-Ion
 • Lead Acid
 • Flow Battery
 • Sodium-Based Battery
 • Others (Ni-Cd, NiMH, NiI, etc.)

 Application (2017–2027; US$ Bn)
 • Renewable Integration
 • Peak Shift
 • Ancillary Services
 • Back-Up Power
 • Others

 Geography (2017–2027; US$ Bn)
 • North America (U.S., Rest of North America)
 • Europe (U.K., Germany, France, Rest of Europe)
 • Asia Pacific (Japan, China, India, Rest of Asia Pacific)
 • Rest of the World (Latin America, Middle East & Africa)

The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints and opportunities that give a better market understanding of the overall foundation repair services market. Additionally, the global report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.

Key questions answered in this report

  • What are the current market trends and dynamics in the grid-scale battery market and valuable opportunities for emerging players?
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which battery type segment holds a larger market share and why?
  • Are low and middle-income economies investing in the grid-scale battery market?
  • What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?

1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation

2. Executive Summary
2.1. Market Snapshot: Global Grid-Scale Battery (GSB) Market
2.2. Global GSB Market, by Battery Type, 2018 (US$ Bn)
2.3. Global GSB Market, by Application, 2018 (US$ Bn)
2.4. Global GSB Market, by Geography, 2018 (US$ Bn)

3. Market Dynamics
3.1. Introduction
3.1.1. Global GSB Market Value, 2017-2027, (US$ Bn)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.3. Attractive Investment Proposition, by Geography, 2018
3.4. Market Positioning of Key Players, 2018
3.4.1. Major Strategies Adopted by Key Players

4. Global Grid-Scale Battery (GSB ) Market, by Battery Type , 2017-2027 (US$ Bn)
4.1. Overview
4.2. Lithium-Ion
4.3. Lead Acid
4.4. Flow Battery
4.5. Sodium-Based Battery
4.6. Others (Ni-Cd, NiMH, NiI, etc.)

5. Global Grid-Scale Battery (GSB ) Market, by Application, 2017-2027 (US$ Bn)
5.1. Overview
5.2. Renewable Integration
5.3. Peak Shift
5.4. Ancillary Services
5.5. Back-Up Power
5.6. Others

6. North America Grid-Scale Battery (GSB ) Market Analysis, 2017-2027 (US$ Bn)
6.1. Overview
6.1.1. North America GSB Market Value and Growth, 2017-2027, (US$ Bn)
6.2. North America GSB Market Value, By Battery Type, 2017-2027 (US$ Bn)
6.2.1. Market Analysis
6.3. North America GSB Market Value, By Application, 2017-2027 (US$ Bn)
6.3.1. Market Analysis
6.4. North America GSB Market Value, By Region/Country, 2017-2027 (US$ Bn)
6.4.1. Market Analysis
6.4.2. U.S.
6.4.3. Rest of North America

7. Europe Grid-Scale Battery (GSB ) Market Analysis, 2017-2027 (US$ Bn)
7.1. Overview
7.1.1. Europe GSB Market Value and Growth, 2017-2027, (US$ Bn)
7.2. Europe GSB Market Value, By Battery Type, 2017-2027 (US$ Bn)
7.2.1. Market Analysis
7.3. Europe GSB Market Value, By Application, 2017-2027 (US$ Bn)
7.3.1. Market Analysis
7.4. Europe GSB Market Value, By Region/Country, 2017-2027 (US$ Bn)
7.4.1. Market Analysis
7.4.2. U.K.
7.4.3. Germany
7.4.4. France
7.4.5. Rest of Europe

8. Asia Pacific Grid-Scale Battery (GSB ) Market Analysis, 2017-2027 (US$ Bn)
8.1. Overview
8.1.1. Asia Pacific GSB Market Value and Growth, 2017-2027, (US$ Bn)
8.2. Asia Pacific GSB Market Value, By Battery Type, 2017-2027 (US$ Bn)
8.2.1. Market Analysis
8.3. Asia Pacific GSB Market Value, By Application, 2017-2027 (US$ Bn)
8.3.1. Market Analysis
8.4. Asia Pacific GSB Market Value, By Region/Country, 2017-2027 (US$ Bn)
8.4.1. Market Analysis
8.4.2. Japan
8.4.3. China
8.4.4. India
8.4.5. Rest of Asia Pacific

9. Rest of the World Grid-Scale Battery (GSB ) Market Analysis, 2017-2027 (US$ Bn)
9.1. Overview
9.1.1. Rest of the World GSB Market Value and Growth, 2017-2027, (US$ Bn)
9.2. Rest of the World GSB Market Value, By Battery Type, 2017-2027 (US$ Bn)
9.2.1. Market Analysis
9.3. Rest of World GSB Market Value, By Application, 2017-2027 (US$ Bn)
9.3.1. Market Analysis
9.4. Rest of the World GSB Market Value, By Region, 2017-2027 (US$ Bn)
9.4.1. Market Analysis
9.4.2. Middle East & Africa
9.4.3. Latin America

10. Company Profiles
10.1. LG Chem Ltd
10.2. Samsung SDI Co Ltd
10.3. Panasonic Corporation
10.4. Fluence Corporation Ltd
10.5. Tesla Inc
10.6. BYD Co Ltd
10.7. ABB Ltd.
10.8. General Electric Company
10.9. GS Yuasa Corporation
10.10. Toshiba Corp
10.11. Saft
10.12. S&C Electric Co
10.13. NGK Insulators Ltd


* Here we use GSB as a short form for Grid-Scale Battery

FIG. 1 Global Grid-Scale Battery (GSB ) Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global GSB Market Segmentation
FIG. 4 Global GSB Market, by Battery Type, 2018 (US$ Bn)
FIG. 5 Global GSB Market, by Application, 2018 (US$ Bn)
FIG. 6 Global GSB Market, by Geography, 2018 (US$ Bn)
FIG. 7 Attractive Investment Proposition, by Geography, 2018
FIG. 8 Global Market Positioning of Key GSB Market Manufacturers, 2018
FIG. 9 Global GSB Market Value Contribution, By Battery Type, 2018 & 2027 (Value %)
FIG. 10 Global GSB Market, by Lithium ion, Value, 2017–2027 (US$ Bn)
FIG. 11 Global GSB Market, by Lead Acid, Value, 2017–2027 (US$ Bn)
FIG. 12 Global GSB Market, by Flow Battery, Value, 2017–2027 (US$ Bn)
FIG. 13 Global GSB Market, by Sodium-based Battery, Value, 2017–2027 (US$ Bn)
FIG. 14 Global GSB Market, by Others (Ni-Cd, NiMH, NiI, etc.), Value, 2017–2027 (US$ Bn)
FIG. 15 Global GSB Market Value Contribution, By Application, 2018 & 2027 (Value %)
FIG. 16 Global GSB Market, by Renewable Integration, Value, 2017–2027 (US$ Bn)
FIG. 17 Global GSB Market, by Peak Shift, Value, 2017–2027 (US$ Bn)
FIG. 18 Global GSB Market, by Ancillary Services, Value, 2017–2027 (US$ Bn)
FIG. 19 Global GSB Market, by Back-Up Power, Value, 2017–2027 (US$ Bn)
FIG. 20 Global GSB Market, by Others Application, Value, 2017–2027 (US$ Bn)
FIG. 21 U.S. GSB Market, 2017–2027 (US$ Bn)
FIG. 22 Rest of North America GSB Market, 2017–2027 (US$ Bn)
FIG. 23 U.K. GSB Market, 2017–2027 (US$ Bn)
FIG. 24 Germany GSB Market, 2017–2027 (US$ Bn)
FIG. 25 France GSB Market, 2017–2027 (US$ Bn)
FIG. 26 Rest of Europe GSB Market, 2017–2027 (US$ Bn)
FIG. 27 Japan GSB Market, 2017–2027 (US$ Bn)
FIG. 28 China GSB Market, 2017–2027 (US$ Bn)
FIG. 29 India GSB Market, 2017–2027 (US$ Bn)
FIG. 30 Rest of Asia Pacific GSB Market, 2017–2027 (US$ Bn)
FIG. 31 Middle East & Africa GSB Market, 2017–2027 (US$ Bn)
FIG. 32 Latin America GSB Market, 2017–2027 (US$ Bn)

TABLE 1 Market Snapshot: Global Grid-Scale Battery (GSB ) Market
TABLE 2 Global GSB Market, by Battery Type, 2017–2027 (US$ Bn)
TABLE 3 Global GSB Market, by Application, 2017–2027 (US$ Bn)
TABLE 4 Global GSB Market, by Geography, 2017–2027 (US$ Bn)
TABLE 5 North America GSB Market, by Battery Type, 2017–2027 (US$ Bn)
TABLE 6 North America GSB Market, by Application, 2017–2027 (US$ Bn)
TABLE 7 North America GSB Market, by Country, 2017–2027 (US$ Bn)
TABLE 8 Europe GSB Market, by Battery Type, 2017–2027 (US$ Bn)
TABLE 9 Europe GSB Market, by Application, 2017–2027 (US$ Bn)
TABLE 10 Europe GSB Market, by Country/Region, 2017–2027 (US$ Bn)
TABLE 11 Asia Pacific GSB Market, by Battery Type, 2017–2027 (US$ Bn)
TABLE 12 Asia Pacific GSB Market, by Application, 2017–2027 (US$ Bn)
TABLE 13 Asia Pacific GSB Market, by Country/Region, 2017–2027 (US$ Bn)
TABLE 14 RoW GSB Market, by Battery Type, 2017–2027 (US$ Bn)
TABLE 15 RoW GSB Market, by Application, 2017–2027 (US$ Bn)
TABLE 16 RoW GSB Market, by Country/Region, 2017–2027 (US$ Bn)
TABLE 17 LG Chem Ltd: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 18 Panasonic Corporation: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 19 Fluence Corporation Ltd: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 20 Tesla Inc: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 21 BYD Co Ltd: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 22 ABB Ltd.: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 23 General Electric Company: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 24 GS Yuasa Corporation: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 25 Toshiba Corp: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 26 Saft: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 27 S&C Electric Co: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 28 NGK Insulators Ltd: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)

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