Grid-Scale Battery Market by Storage Technology (Lithium-ion, Sodium Sulphur), by Service Offering (Ancillary Services, Capacity Firming), by Ownership Model (Utility, IPP, Vendor), by Region (Asia Pacific, Europe, Middle East and Africa, South America, North America) – Global Forecast 2018 to 2025

Grid-Scale Battery Market: Summary

The Global Grid-Scale Battery Market is estimated to reach USD 9.8 Billion by 2025 at a CAGR of 32.2%, predicts forencis research (FSR).

Grid-scale battery is defined as the electrochemical device that stores energy produced by the power plant or from the grid and delivers when required. This technology helps power operators to store energy for later usage. Grid-scale battery storage incorporation in the power sector helps in achieving flexibility in the internal processes and in the integration of renewable energy sources. Grid-scale battery can be installed in the transmission network, distribution network near load centers, or with renewable energy generators. The battery can provide various services in any of the locations it is being deployed, ancillary services, investment deferral, reducing renewable energy curtailment are some of the services.

 

Grid-Scale Battery Market: Drivers & Challenges

Market Drivers:

• Expanding Capabilities of the Renewable Energy Sector

The renewable energy sector is expanding worldwide as the urgency of clean energy is increasing. As per Energy Information Administration (EIA), in the US electricity generation from renewable sources prominently wind and solar have doubled in the past ten years. These renewable sources being infrequent in nature requires storage facility incorporated in the system. Grid-scale battery is rapidly getting acquired in the renewable system as they provide the storage facility. As the number of renewable source-based power plants is expected to increase worldwide, it may increase the demand for grid-scale batteries.

Thus, the expanding capabilities of the renewable energy sector may contribute to the growth of the grid-scale battery market, during the forecasted period.

• Robust Demand in Power Sector

Implementation of grid-scale battery in the power sector helps the integration of renewable sources with the existing power system which results in cost saving for all the stakeholders. Also, islands and off-grid communities are further saving on fuel cost and reducing dependency on fossil fuels as energy stored in grid-scale batteries are benefitting them. It is estimated by a draft study commissioned by the State of New York that if around 11500 MW of energy storage is implemented in the states instead of conventional grid solutions, the State can save approximately USD 22 billion. All such factors are compelling aggressive demand for grid-scale batteries in the system by the power providers.

Thus, the robust demand in the power sector may contribute to the overall growth of the grid-scale battery market, during the forecasted period.

Market Challenges:

• High Initial Costs

Grid-scale battery is a rising technology there are numerous factors challenging the growth of the market. One such factor is the high upfront costs of grid-scale battery storage. Regardless of reducing the cost of battery storage technologies, the initial installation cost of grid-scale battery storage is high. This may hinder the growth of the market worldwide. The governing authorities can encourage the demand by providing subsidies to the battery storage system owners which can reduce the burden of the initial cost. For instance, in the US under the American Recovery and Reinvestment Act of 2009 incentives are provided which become a source of finance for battery storage owners.

Thus, high initial costs can be challenging for the growth of the grid-scale battery market, during the forecast period.

Grid-Scale Battery Market: Key Segments

• Storage technology segment comprises of: Lithium-ion Battery, Sodium Sulphur Battery, Lead Acid Battery, Flow Battery, and
• Service offering segment comprises of: Ancillary Services, Capacity Firming, Curtailment Reduction, Investment Deferral, and
• Ownership model segment comprises of: Utility Owned, Independent Power Producers Owned, and Vendor Owned.
• Regional segmentation comprises of: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.

Grid-Scale Battery Market: Report Scope

The report on the grid-scale battery market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

Report Features	Specifics
Historical/Estimated/Forecasted Market Size Years	2018-2025
Base Year for Market Calculation	2019
Forecasted Period	2020-2025 (2020 estimated year, forecasted up to 2025)
Measured Units	Value (USD Million)
Segments Included	Storage Technology, Service Offering, Ownership Model and Region
Regional Coverage	Asia-Pacific, Europe, Middle East and Africa, South Africa and North America

Key Companies Covered

• BYD Co Ltd (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
• GS Yuasa Corporation
• Hitachi, Ltd.
• LG Chem Ltd.
• NEC Energy Solutions, Inc.
• NGK Insulators Ltd
• Panasonic Corporation
• Total SA
• Samsung SDI Co Ltd
• Toshiba Corp
• Other Key Companies

Grid-Scale Battery Market: Report Segmentation

For the scope of the report, In-depth segmentation is offered by Forencis Research

Grid-Scale Battery Market, by Storage Technology

• Lithium-ion Battery
• Sodium Sulphur Battery
• Lead Acid Battery
• Flow Battery
• Others

Grid-Scale Battery Market, by Service Offering

• Ancillary Services
• Capacity Firming
• Curtailment Reduction
• Investment Deferral
• Others

Grid-Scale Battery Market, by Ownership Model

• Utility Owned
• Independent Power Producers Owned
• Vendor Owned

Grid-Scale Battery Market, by Region

• Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Taiwan
  • Rest of Asia-Pacific
• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe

• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East & Africa

• South America
  • Brazil
  • Argentina
  • Rest of South America

Key Questions answered by the report

• What are the primary advancements affecting the global market and its growth?
• What will be the effects of the advancements in the market on the industry globally and on the market players in the near and far future?
• What are the emerging types of the global market?
• What are the emerging applications of the global market?
• What are the primary aspects that will impact market growth globally during the study period?
• Who are the leading global players functioning in the market?
• How are the leading players expanding in the existing global market conditions?

Report Audience

• Grid-Scale Battery Market Providers
• Grid-Scale Battery Market Solution and Services Suppliers, Distributors and Dealers
• End-Users of Varied Segments of Grid-scale battery Market
• Government Bodies and Intellectual Institutions
• Associations and Industrial Organizations
• Research & Consulting Service Providers
• Research & Development Organizations
• Investment Banks & Private Equity Firms

60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE GRID-SCALE BATTERY MARKET STUDY

1      INTRODUCTION

1.1       Research Objectives

1.2       Market Definition

1.3       Research Scope

1.4       Regional Coverage

1.5       Research Timeline

1.6       Assumptions

1.7       Limitations

2      RESEARCH DESIGN & SCOPE

2.1       Introduction

2.2       Primary Research

                                  2.2.1    Key Industry Expert Insight

2.3       Secondary Research

                                  2.3.1    Vital Data from Secondary Sources

2.4       Market Size Estimation

2.5       Data Validation & Triangulation

3      EXECUTIVE SUMMARY

4      MARKET DYNAMICS

4.1       Introduction

4.2       Drivers

                                  4.2.1    Expanding Capabilities of the Renewable Energy Sector

                                  4.2.2    Robust Demand in Power Sector

4.3       Restraints

                                  4.3.1    Adverse Effects on the Environment

4.4       Opportunities

                                 4.4.1.    Adopting Molten Salt Battery Technology

                                 4.4.2.    Deployment of Mini-grids

4.5       Challenges

                                 4.5.1.    High Initial Costs

5      INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS

5.1       Introduction

                                 5.1.1.    Power of Buyers

                                 5.1.2.    Power of Suppliers

                                 5.1.3.    Intensity of Competition

                                 5.1.4.    Challenges of Substitutes

                                 5.1.5.    Challenges of New Entrants

5.2       Macro-Economic Indicators

6      GLOBAL GRID-SCALE BATTERY MARKET BY STORAGE TECHNOLOGY, Market Size in USD Million (2018—2025)

6.1       Introduction

6.2       Lithium-ion Battery

6.3       Sodium Sulphur Battery

6.4       Lead Acid Battery

6.5       Flow Battery

6.6       Others

7      GLOBAL GRID-SCALE BATTERY MARKET BY SERVICE OFFERING, Market Size in USD Million (2018—2025)

7.1       Introduction

7.2       Ancillary Services

7.3       Capacity Firming

7.4       Curtailment Reduction

7.5       Investment Deferral

7.6       Others

8      GLOBAL GRID-SCALE BATTERY MARKET BY OWNERSHIP MODEL, Market Size in USD Million (2018—2025)

8.1       Introduction

8.2       Utility Owned

8.3       Independent Power Producers Owned

8.4       Vendor Owned

9      GLOBAL GRID-SCALE BATTERY MARKET BY REGION, Market Size in USD Million (2018—2025)

9.1       North America

                                  9.1.1    US

                                  9.1.2    Canada

                                  9.1.3    Mexico

9.2       Europe

                                  9.2.1    Germany

                                  9.2.2    France

                                  9.2.3    Italy

                                  9.2.4    UK

                                  9.2.5    Russia

                                  9.2.6    Rest of Europe

9.3       Asia-Pacific

                                  9.3.1    China

                                  9.3.2    India

                                  9.3.3    Japan

                                  9.3.4    South Korea

                                  9.3.5    Taiwan

                                  9.3.6    Rest of Asia-Pacific

9.4       Middle East and Africa

                                  9.4.1    Saudi Arabia

                                  9.4.2    UAE

                                  9.4.3    Rest of Middle East and Africa

9.5       South America

                                  9.5.1    Brazil

                                  9.5.2    Argentina

                                  9.5.3    Rest of South America

10   COMPETITIVE LANDSCAPE

10.1     Introduction

10.2     Market Ranking/Share Analysis of Key Companies

10.3     Company Benchmarking

11   COMPANY PROFILES

11.1     BYD Co Ltd

                                11.1.1    Company Overview

                                11.1.2    Financial Overview

                                11.1.3    Products/Solutions/Services Offered

                                11.1.4    Key Developments

                                11.1.5    SWOT Analysis

11.2     GS Yuasa Corporation

11.3     Hitachi, Ltd.

11.4     LG Chem Ltd.

11.5     NEC Energy Solutions, Inc.

11.6     NGK Insulators Ltd

11.7     Panasonic Corporation

11.8     Total SA

11.9     Samsung SDI Co Ltd

11.10  Toshiba Corp

11.11  Other Key Companies

12   APPENDIX

12.1     Key Industry Expert Insights

12.2     Primary Discussion Guide

12.3     Customization Options

Note1: Tentative table of contents, may get updated during the course of research.

Note2: Company financial information is subject to availability in public domain

 

60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY

 

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Research Design

Forencis Research follows robust and deep dive research methodologies to deliver accurate – current, estimated and forecasted market data. Our extensive primary and secondary research help in deriving reliable qualitative and quantitative data to provide verified market insights. Our research team tracks historic trends, existing and recent market dynamics, growth prospects, competitor landscape, and the entire value chain dynamics to attain reliable industry facts to reach accurate market estimates. Primary research is conducted through thorough interviews and detailed surveys with the Key Industry Experts and related participants across the value chain. Secondary research entails acquiring data through paid and reliable databases such as annual reports, SEC filings, research publications, association publications, investor presentations, white papers and other sources. All the above-obtained information is further processed and collated with our existing database prior to its presentation in our publications.

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