Global Grid Scale Energy Storage Market Growth 2023-2029

Global Grid Scale Energy Storage Market Growth 2023-2029

Grid energy storage is a collection of methods used to store electrical energy on a large scale within an electrical power grid. Electrical energy is stored during times when production (especially from intermittent power plants such as renewable electricity sources such as wind power, tidal power, solar power) exceeds consumption, and returned to the grid when production falls below consumption.

LPI (LP Information)' newest research report, the “Grid Scale Energy Storage Industry Forecast” looks at past sales and reviews total world Grid Scale Energy Storage sales in 2022, providing a comprehensive analysis by region and market sector of projected Grid Scale Energy Storage sales for 2023 through 2029. With Grid Scale Energy Storage sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Grid Scale Energy Storage industry.

This Insight Report provides a comprehensive analysis of the global Grid Scale Energy Storage landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Grid Scale Energy Storage portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Grid Scale Energy Storage market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Grid Scale Energy Storage and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Grid Scale Energy Storage.

The global Grid Scale Energy Storage market size is projected to grow from US$ million in 2022 to US$ million in 2029; it is expected to grow at a CAGR of % from 2023 to 2029.

A variety of grid scale energy storage technologies are known to the industry and can be broadly categorized based on the type of energy being stored. Pumped hydro energy storage (PHES) is a well-established energy storage technique; however, because of known challenges, various other energy storage techniques, backed by public and private lending, have surfaced over the last decade. For a market such as energy storage, which is linked to the economy of a country, initiatives related to policy decisions and mass awareness play a key role in the growth. Some countries have introduced reforms / amendments in the policies to encourage the market for energy storage, while others are still debating on it. The White House Summit 2016 is a recent example of such initiatives. At the summit, a range of utility, industry and government storage commitments were highlighted to signify the importance of this subject. Post this, the Federal Energy Regulatory Commission (FERC) started working on re-evaluating some of the policies to encourage energy storage in the US.

This report presents a comprehensive overview, market shares, and growth opportunities of Grid Scale Energy Storage market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Pumped Hydroelectric Storage System
Thermal Storage
Battery Storage
Compressed Air Energy Storage
Flywheel Storage
Molten Salt Storage

Segmentation by application
Mechanical Energy
Chemical Energy
Electrochemical Energy
Thermal Energy
Electromagnetic Energy

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
ABB
Beacon Power
Hydrostor
EnerVault
GE
Samsung SDI
S&C Electric
SustainX

Key Questions Addressed in this Report

What is the 10-year outlook for the global Grid Scale Energy Storage market?

What factors are driving Grid Scale Energy Storage market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Grid Scale Energy Storage market opportunities vary by end market size?

How does Grid Scale Energy Storage break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.