Asia-Pacific Grid Scale Battery Market Report - Market Analysis, Size, Share, Growth, Outlook - Industry Trends and Forecast to 2028

Asia-Pacific Grid Scale Battery Market Report - Market Analysis, Size, Share, Growth, Outlook - Industry Trends and Forecast to 2028

Asia-pacific is witnessing substantial changes in its energy mix. Across the region, coal dominates energy generation, making it the most carbon-intensive in the world. With China, India, Korea, and Japan all announcing their ambitious net-carbon emissions targets, renewable energy such as solar and wind are being deployed on a large scale.

As the renewable energy integration with the grid is expected to increase in the future, a grid-scale battery system is needed for smoothening renewable energy generation output, thereby improving power quality.

Battery energy storage is one of several technology options that can strengthen grid system flexibility and enable high levels of renewable energy integration. Studies and real-world projects have demonstrated that interconnected power systems can safely and reliably integrate high levels of renewable energy from VRE (variable renewable energy) sources without new energy storage resources.

Large battery energy storage systems have exhibited at scale the potential for battery energy storage to provide fast-acting, supply and demand to the grid network, which is critical to maintaining a consistent frequency for grid stability and improving renewable integration to the grid.

Some of the other advantages of deploying grid-scale battery systems are peak shaving, power backup, saving upon transmission and distribution upgrade deferrals, and black start (start-up power after grid failure).

Grid Scale Battery Market Drivers

The deployment of large-scale renewable energy projects in the APAC region

The APAC region is aggressively promoting renewables with large-scale renewable projects in the pipeline.

China has accounted for 40% of the global renewable capacity growth for several years already. The Chinese government announced its decision to phase out subsidies for both solar PV and wind projects by the end of 2020, due to which, for the first time in 2020, it was responsible for 50% of the global renewable capacity.

Though China's renewable capacity additions are expected to slow down due to the subsidy phase-out, other countries in the region are expected to compensate with faster growth.

India, who heads the ISA (International Solar Alliance), also has big plans for renewable capacity additions. The country is taking steps to meet its commitment to reduce emissions and meet 50% energy requirements from renewable sources by 2030.

Around 45 solar parks with an aggregate capacity of 37 GW have been approved in India. The world's largest renewable energy park of 30 GW capacity solar-wind hybrid project is under construction in Gujarat, India.

The government of India has introduced a PLI (Production Linked Incentives) scheme with a financial outlay of USD 314.5 million introduced under the Atmanirbhar Bharath 3.0 initiative.

Australia's renewable energy industry accounted for 32.5% of Australia's total electricity generation in 2021, which represented an increase of 5% points compared to 2020. In the past five years, the proportion of Australia's electricity that comes from renewables has almost doubled from 16.9% in 2017 to 32.5% in 2021.

A further 68 large projects are under construction or financially committed at the end of 2021

In 2020, the South Korea's Ministry of Trade, Industry and Energy (MOTIE) introduced the 9th Basic Plan for long-Term Electricity Demand Supply 2020-2034. In this plan, MOTIE aims for renewable energy in South Korea to account for around 40% of the energy mix by 2034.

The Korean annual solar additions in 2021 are higher than the 4.1 GW deployed a year earlier.

The ASEAN (Association of Southeast Asian Nations) aims to rely more on renewables to support a sustainable, secure, and prosperous future. The member states have together set out to make 23% of their primary energy renewable by 2025, compared to 9.4 in 2014.

Some of the other drivers are increasing demand for resilient and reliable power, declining cost of batteries, and increasing development of microgrids.

Restriants to the Grid Scale Battery Market

The low energy density of existing battery technology and poor recycling and disposal of batteries is expected to restrain the growth of the Asia-Pacific grid-scale battery market.

The new market research report from Blackridge Research on the Asia-Pacific Grid-Scale Battery Market comprehensively analyses the Grid-Scale Battery Market. It provides deep insight into the current and future state of the industry in the region.

The study examines the drivers, restraints, and regional trends influencing Asia Pacific Grid-Scale Battery Market demand and growth.

The report also addresses present and future market opportunities, market trends, developments, and the impact of Covid-19 on the Grid-Scale Battery Market, important commercial developments, trends, countries, and segments poised for the fastest growth, competitive landscape.

Further, the report will also provide the Asia-Pacific Grid-Scale Battery Market size, demand forecast, and growth rates.

What we cover in the report?

Grid-Scale Battery Storage Market Drivers & Restraints

The study covers all the major underlying forces that help the market develop and grow and the factors that constrain the growth.

The report includes a meticulous analysis of each factor, explaining the relevant, qualitative information with supporting data.

Each factor's respective impact in the near, medium and long term will be covered using Harvey balls for visual communication of qualitative information and functions as a guide for you to analyze the degree of impact.

Grid-Scale Battery Market Analysis

This report discusses the overview of the market, latest updates, important commercial developments and structural trends, and government policies and regulations in the region.

This section provides an assessment of COVID-19 impact on Grid-Scale Battery Market demand in the region.

Grid-Scale Battery Market Size and Demand Forecast

The report provides the Asia-Pacific Grid-Scale Battery Market size and demand forecast until 2027, including year-on-year (YoY) growth rates and CAGR.

Grid-Scale Battery Market Industry Analysis

The report examines the critical elements of the Grid-Scale Battery industry supply chain, its structure, and the participants

Using Porter's five forces framework, the report covers the assessment of the Grid-Scale Battery industry's state of competition and profitability.

Grid-Scale Battery Market Segmentation & Forecast

The report dissects the Asia Pacific Grid-Scale Battery Market into various segments. A detailed summary of the current scenario, recent developments, and market outlook will be provided for each segment.

Further, market size and demand forecasts will be presented, along with various drivers and barriers for individual market segments.

Effective market segmentation enables you to identify emerging trends and opportunities for long-term growth. Contact us for "bespoke" market segmentation to better align the research report with your requirements.

Regional Market Analysis

The report covers detailed profiles of major countries in the region. Each country's analysis covers the current market scenario, market drivers, government policies & regulations, and market outlook. In addition, market size, demand forecast, and growth rates will be provided for all major countries.

Following are the notable countries covered under the region.

Asia Pacific - China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific

Key Grid Scale Battery Storage Company Profiles

This report presents detailed profiles of Key companies in the Grid-Scale Battery storage market. In general, each company profile includes - an overview of the company, relevant products and services, a financial overview, and recent developments. Some of the leading players in the report include LG Chem Ltd, Panasonic Corporation, Samsung SDI Co., Ltd, etc.

Competitive Landscape

The report provides a comprehensive list of notable companies in the regional market, including mergers and acquisitions (M&As), joint ventures (JVs), partnerships, collaborations, and other business agreements.

The study also discusses the strategies adopted by leading players in the industry.

Executive Summary

The executive Summary will be jam-packed with charts, infographics, and forecasts. This chapter summarizes the findings of the report crisply and clearly.

The report begins with an Executive Summary chapter and ends with Conclusions and Recommendations.

This product will be delivered within 4-6 business days.