Grid Scale Battery Market Size, Growth, Share, Industry Trends, Key Players And Regional Forecast To 2023

Posted May 17, 2019 by DhanashreeP

Grid Scale Battery Market have significant growth by 2023 with a CAGR of more than 32% over the forecast period, Global Grid Scale Battery Market categorizes the Worldwide Market by Service, Solution, End-Use and Region
Grid Scale Battery Market – Overview

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.

Energy management technique generally used in bulk power management. Inventions on this battery has done on wide scale on commercial basis to store energy during peak period and release when the consumption of power is less.

Competitive Landscape

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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Segmental Analysis

The segmentation of the grid scale battery market is carried out on the basis of battery type, power generation, applications, and region.

On the basis of battery type, the grid scale battery market is segmented into flow batteries, lithium-ion batteries, sodium-based battery, and zinc-hybrid batteries.

Based on power generation, the grid scale battery market is segmented into power capacity or rating and energy capacity.

Based on applications, the grid scale battery market is segmented into load shifting, peak shaving, renewable sources integration, and backup power.

The Regions included in the grid scale battery market are Asia Pacific, Europe, North America and rest of world.

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Regional 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.

Industry Updates:

Feb 2019 India has obtained its first grid-scale battery energy storage system, the 10 MW system housed at Tata Power Delhi Distribution’s Rohini substation is supposed to be South Asia’s biggest. The 10 MW grid-connected system, held by AES and Mitsubishi Corporation, will lay the trail for a broader implementation of grid-scale energy storage technology throughout India. It uses the Advancion energy storage platform from Fluence, a joint undertaking formed by AES and Siemens.

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Issued By MRFR
Country India
Categories Energy
Tags grid scale battery market , grid scale battery market growth , grid scale battery market share , grid scale battery market size
Last Updated May 17, 2019