Global Grid-scale Battery Market 2024-2028

Global Grid-scale Battery Market 2024-2028

The grid-scale battery market is forecasted to grow by USD 12247.48 mn during 2023-2028, accelerating at a CAGR of 20.88% during the forecast period. The report on the grid-scale battery market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing demand for ESSS from utilities, increasing focus on renewable power generation, and rising urbanization and electricity demand.

Technavio's grid-scale battery market is segmented as below:

By Application

• Ancillary services
• Renewable integration
• Others

By Battery Type

• Lithium-based
• Others

By Geographical Landscape

• APAC
• North America
• Europe
• South America
• Middle East and Africa

This study identifies the declining costs of battery storage systems as one of the prime reasons driving the grid-scale battery market growth during the next few years. Also, growing demand for renewable power generation and increasing installation of microgrids will lead to sizable demand in the market.

The report on the grid-scale battery market covers the following areas:

• Grid-scale battery market sizing
• Grid-scale battery market forecast
• Grid-scale battery market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading grid-scale battery market vendors that include ABB Ltd., BYD Co. Ltd., Contemporary Amperex Technology Co. Ltd., General Electric Co., GS Yuasa International Ltd., Hitachi Ltd., Innolith Science and Technology GmbH, Leclanche SA, LG Electronics Inc., NEC Corp., NGK Insulators Ltd., Panasonic Holdings Corp., Powin Inc., Samsung SDI Co. Ltd., Siemens AG, SolarEdge Technologies Inc., Sumitomo Electric Industries Ltd., Tesla Inc., Toshiba Corp., and TotalEnergies SE. Also, the grid-scale battery market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth