Grid Connected Battery Energy Storage Market - Size, Share, Trends, and Forecast, 2022 - 2028

Grid Connected Battery Energy Storage Market - Size, Share, Trends, and Forecast, 2022 - 2028

The grid connected battery energy storage system is an integration of battery with a two way power converter that connects the direct current battery to the alternate current grid, and a real-time control software that helps to balance the frequency and power flows, while optimizing the efficiency and service life of the system.
Market Dynamics
Increasing investment in renewable energy projects is one of the major driving factors for growth of the market. For instance, in 2018, AVAADA Energy, an India-based company, announced that they have signed a Memorandum of Understanding with Indian government to invest US$ 1.55 billion for the development of 1,600 MW solar project in Uttar Pradesh, India. Similarly, in 2021, the U.K. government announced plans to invest US$ 655 million (Euro 557) for renewable energy as part of the government’s Clean Growth Strategy. Moreover, high production of renewable energy in European countries have accelerated growth of the grid connected battery storage market. For instance, according to Coherent Market Insights, in Germany 34% of the total electricity was produced by renewable resources in 2021. Similarly, in Spain 32% of the total electricity was produced by renewable resources in 2021.
Key features of the study:

This report provides in-depth analysis of grid connected battery energy storage market, market size (US$ Million), and Compound Annual Growth Rate (CAGR %) for the forecast period (2022-2028), considering 2021 as the base year.
It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players.
It profiles leading players in the global grid connected battery energy storage market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, grid connected battery energy storage market capital, key developments, strategies, and future plans.
Companies covered as part of this study include NGK Insulators Ltd., BYD Company, NEC Corporation, Samsung SDI Co., LG Electronics Inc., Xtreme Power, Saft Groupe S.A., AES Energy Storage, Alevo, Delco, Altair Nanotechnologies Inc., EnerDel, GNB Corporation, Ecoult, and Powertree Services Inc.
Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launches, product upgrades, market expansion, and marketing tactics.
The global grid connected battery energy storage market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global grid connected battery energy storage market.

Detailed Segmentation:

Global Grid Connected Battery Energy Storage Market, By Battery Type:

Lithium-Ion Battery
Lead Acid Battery
Others

Global Grid Connected Battery Energy Storage Market, By End Users:

Residential
Industrial
Utilities
Others

Global Grid Connected Battery Energy Storage Market, By Geography:

North America

By Battery Type

Lithium-Ion Battery
Lead Acid Battery
Others

By End Users

Residential
Industrial
Utilities
Others

By Country:

U.S.
Canada

Europe

By Battery Type

Lithium-Ion Battery
Lead Acid Battery
Others

By End Users

Residential
Industrial
Utilities
Others

By Country:

Germany
UK
France
Italy
Spain
Russia
Rest of Europe

Asia Pacific

By Battery Type

Lithium-Ion Battery
Lead Acid Battery
Others

By End Users

Residential
Industrial
Utilities
Others

By Country:

China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific

Latin America

By Battery Type

Lithium-Ion Battery
Lead Acid Battery
Others

By End Users

Residential
Industrial
Utilities
Others

By Country:

Brazil
Mexico
Rest of Latin America

Middle East

By Battery Type

Lithium-Ion Battery
Lead Acid Battery
Others

By End Users

Residential
Industrial
Utilities
Others

By Country:

GCC CountriesIsrael
Rest of Middle East

Africa

By Battery Type

Lithium-Ion Battery
Lead Acid Battery
Others

By End Users

Residential
Industrial
Utilities
Others

By Country:

Northern Africa
Central Africa
South Africa

Company Profiles

NGK Insulators Ltd.

Company Overview
Product Portfolio
Financial Performance
Recent Developments/ Updates

BYD Company

Company Overview
Product Portfolio
Financial Performance
Recent Developments/ Updates

NEC Corporation

Company Overview
Product Portfolio
Financial Performance
Recent Developments/ Updates

Samsung SDI Co.

Company Overview
Product Portfolio
Financial Performance
Recent Developments/ Updates

LG Electronics Inc.

Company Overview
Product Portfolio
Financial Performance
Recent Developments/ Updates

Xtreme Power

Company Overview
Product Portfolio
Financial Performance
Recent Developments/ Updates

Saft Groupe S.A.

Company Overview
Product Portfolio
Financial Performance
Recent Developments/ Updates

AES Energy Storage

Company Overview
Product Portfolio
Financial Performance
Recent Developments/ Updates

Alevo

Company Overview
Product Portfolio
Financial Performance
Recent Developments/ Updates

Delco

Company Overview
Product Portfolio
Financial Performance
Recent Developments/ Updates

Altair Nanotechnologies Inc.

Company Overview
Product Portfolio
Financial Performance
Recent Developments/ Updates

EnerDel

Company Overview
Product Portfolio
Financial Performance
Recent Developments/ Updates

GNB Corporation

Company Overview
Product Portfolio
Financial Performance
Recent Developments/ Updates

Ecoult

Company Overview
Product Portfolio
Financial Performance
Recent Developments/ Updates

Powertree Services Inc.

Company Overview
Product Portfolio
Financial Performance
Recent Developments/ Updates