Grid-Scale Battery Market by Battery Type and Geography - Forecast and Analysis 2021-2025

  • Published: Dec 2021
  • Pages: 120
  • SKU: IRTNTR41151
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The grid-scale battery market share is expected to increase by USD 3.78 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 10.46%.

This grid-scale battery market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers grid-scale battery market segmentation by battery type (lithium-based and others) and geography (APAC, MEA, North America, Europe, and South America). The grid-scale battery market report also offers information on several market vendors, including ABB Ltd., BYD Co. Ltd., Contemporary Amperex Technology Co. Ltd., General Electric Co., LG Electronics Inc., NGK Insulators Ltd., Samsung SDI Co. Ltd., SolarEdge Technologies Inc., Sumitomo Electric Industries Ltd., and Tesla Inc. among others.

What will the Grid-scale Battery Market Size be During the Forecast Period?

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Grid-scale Battery Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growing ESS demand from utilities is notably driving the grid-scale battery market growth, although factors such as regulatory barriers for grid-scale ESS installations may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the grid-scale battery industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Grid-scale Battery Market Driver

One of the key factors driving growth in the grid-scale battery market is the growing ESS demand from utilities. The demand for ESS from utilities is increasing as utilities continue to diversify their power generation portfolios with increased emphasis on power generation from renewable sources. Energy storage provides balance to the electricity demand during on-peak and off-peak periods. Energy storage technologies can use intermittent renewable energy sources such as solar and wind power to generate electricity, which can be stored and used later when these sources of energy are not available. By this, utilities can save money and reduce their carbon footprints. The integration of the Internet of Things (IoT) with energy-storage technologies enables utilities to understand their energy usage. Utilities can use the data generated from the IoT devices for their strategic planning, demand forecasting, and load balancing. Energy storage can provide backup power during power outages and other unexpected grid downtimes. Owing to the above-mentioned factors, the demand for ESSs from utilities has registered rapid growth in demand.

Key Grid-scale Battery Market Challenge

The regulatory barriers for grid-scale ESS installations will be a major challenge for the grid-scale battery market during the forecast period. ESSs have been one of the major inventions in the world. However, under the current regulatory regimes, the deployment of energy storage technologies faces several barriers. The regulatory barriers include procedural issues, discrepancies in rules across markets, functional classification restrictions, and cost allocation issues. One of the main procedural issues is the administrative delays in the implementation of new regulations in favor of energy storage and addressal of energy storage deployment barriers. The ESS vendors operate in various regional and country-level markets to maximize their revenue and expand their reach. The different operational environment has been very difficult for the vendors as each market has their own characteristics, stakeholders, regulations, and market designs. Vendors need to analyze each market to determine the profit potential, market requirements, and regulatory outlook to hedge against market uncertainty. The above regulatory barriers are expected to pose significant challenges to the growth of the global grid-scale battery market.

This grid-scale battery market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Grid-scale Battery Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ABB Ltd.
  • BYD Co. Ltd.
  • Contemporary Amperex Technology Co. Ltd.
  • General Electric Co.
  • LG Electronics Inc.
  • NGK Insulators Ltd.
  • Samsung SDI Co. Ltd.
  • SolarEdge Technologies Inc.
  • Sumitomo Electric Industries Ltd.
  • Tesla Inc.

 

This statistical study of the grid-scale battery market encompasses successful business strategies deployed by the key vendors. The grid-scale battery market is fragmented and the vendors are deploying growth strategies such as forming strategic partnerships to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The grid-scale battery market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Grid-scale Battery Market?

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59% of the market’s growth will originate from APAC during the forecast period. India, China, Australia, and South Korea (Republic of Korea) are the key markets for grid-scale batteries in APAC. Market growth in this region will be faster than the growth of the market in the North American and MEA regions.

The rising energy demand driven by the growth of the population will facilitate the grid-scale battery market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Battery Type Segments in the Grid-scale Battery Market?

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The grid-scale battery market share growth by the lithium-based segment will be significant during the forecast period. The growing installation of lithium-ion-based ESSs is driving the growth of the lithium-based segment. Many utility-scale lithium-ion battery energy storage projects are currently operational across the world, and the installed capacity of lithium-ion battery-based ESSs continues to rise rapidly. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the grid-scale battery market size and actionable market insights on post COVID-19 impact on each segment.

 

Grid-scale Battery Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 10.46%

Market growth 2021-2025

$ 3.78 billion

Market structure

Fragmented

YoY growth (%)

10.36

Regional analysis

APAC, MEA, North America, Europe, and South America

Performing market contribution

APAC at 59%

Key consumer countries

India, China, US, Australia, and South Korea (Republic of Korea)

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ABB Ltd., BYD Co. Ltd., Contemporary Amperex Technology Co. Ltd., General Electric Co., LG Electronics Inc., NGK Insulators Ltd., Samsung SDI Co. Ltd., SolarEdge Technologies Inc., Sumitomo Electric Industries Ltd., and Tesla Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Grid-scale Battery Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive grid-scale battery market growth during the next five years
  • Precise estimation of the grid-scale battery market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the grid-scale battery industry across APAC, MEA, North America, Europe, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of grid-scale battery market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Battery type

    • Market segments
    • Comparison by Battery type
    • Lithium-based - Market size and forecast 2020-2025
    • Others - Market size and forecast 2020-2025
    • Market opportunity by Battery type

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • North America - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • ABB Ltd.
      • BYD Co. Ltd.
      • Contemporary Amperex Technology Co. Ltd.
      • General Electric Co.
      • LG Electronics Inc.
      • NGK Insulators Ltd.
      • Samsung SDI Co. Ltd.
      • SolarEdge Technologies Inc.
      • Sumitomo Electric Industries Ltd.
      • Tesla Inc.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
      Get your FREE sample now!
      The grid-scale battery market growth will increase by $3781.32 million during 2020-2025.
      The grid-scale battery market is expected to grow at a CAGR of 10.46% during 2020-2025.
      Technavio has segmented the grid-scale battery market by other1 (Lithium-based and Others) and geographic (APAC, MEA, North America, Europe, and South America).
      ABB Ltd., BYD Co. Ltd., Contemporary Amperex Technology Co. Ltd., General Electric Co., LG Electronics Inc., NGK Insulators Ltd., Samsung SDI Co. Ltd., SolarEdge Technologies Inc., Sumitomo Electric Industries Ltd., Tesla Inc. are a few of the key vendors in the grid-scale battery market.
      APAC will register the highest growth rate of 58.71% among the other regions. Therefore, the grid-scale battery market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      • India
      • China
      • US
      • Australia
      • South Korea (Republic of Korea)
      The key factors driving the grid-scale battery market growth are:
      • Growing ESS demand from utilities
      The grid-scale battery market vendors should focus on grabbing business opportunities from the lithium-based segment as it accounted for the largest market share in the base year.
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