Grid Scale Battery Market Scenario
Market
Research Future published a raw research report Global Grid scale battery
Market that contains the information from 2018 to 2023. The Global Grid scale battery Market is
expected to grow at 32% CAGR from 2018 to 2023.
Grid scale battery are collection of methods
used to store electric energy on large scale within electric power grid. Grid
scale battery are mostly used in services such as load management, power
quality and UPS. Numerous batteries are used for grid application according to
their power capabilities. Pumped-hydro station uses the
services like load management due to their large power capabilities. Adapting
to the recent novel COVID-19 pandemic, the impact of the COVID-19
on Grid Scale Battery Market is included in the present report.
Grid
scale battery are collection of methods used to store electric energy on large
scale within electric power grid. Grid scale battery are mostly used in
services such as load management, power quality and UPS. Numerous batteries are
used for grid application according to their power capabilities. Pumped-hydro
station uses the services like load management due to their large power
capabilities.
The
rising demand for grid scale battery is driven by advancement of technology,
rapid development in American countries. According to Energy storage news , US
is building 15MW / 30MWh of battery energy storage pairing with 10MW of solar
energy. This will give boost to Infrastruction and development in US. It is estimated
that the growth will continue during the forecast period. North America market
for Grid scale battery is estimated to witness high growth during the forecast
period due to the rising demand for natural gases and the requirement for
efficient production systems.
Segmental Analysis
The global grid scale
battery market is further segmented in three segments by battery type, by power
Generation and by application.
Battery type further
sub-segmented as Lithium-ion batteries, flow batteries, Zinc-hybrid batteries,
Sodium-Based Battery, Lithium-ion batteries is leading in this segment as these
batteries are highly use in UPS having good efficiency.
Power Generation is sub
segmented into power capacity or rating and energy capacity, Power capacity is
leading in this segment.
Region is segmented into
Europe, North America, Asia Pacific, Rest of the world. North America region is dominating in grid scale
battery market due to government support and industries shifting towards
renewable energy
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Regional Industry Analysis
The regional analysis of the grid scale battery market
consists of regions such as Asia Pacific, Europe, North America and rest of
world. The grid scale battery market globally is projected to flourish owing to
the upsurge in investment in renewable energy, and the dropping prices of the
grid-scale battery. Moreover, firms included in this sector are increasingly
focusing on R & D to guarantee improved operational efficiency because of
the rising fleet players in the market. The North American region is
controlling this market owing to the surge of renewable energy in the
residential sector, primarily due to the initiatives and measures that have
been taken to pave the way for utility-scale policy and storage development.
The solar development is adding to a new complementary technology area which
eventually is helping the growth in the grid scale battery market.
Leading Players
The chief competitors in the grid scale battery market
globally are Samsung (South Korea), Fluence (US), Tesla (US), GS Yuasa (Japan),
Panasonic (Japan), LG Chem (South Korea), BYD Company (China), Saft (France),
S&C Electric (US), ABB (Switzerland), GE (US), Toshiba (Japan), and NGK
Insulators (Japan).
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