Global GridScale Battery Storage Technologies Overview
Grid-Scale Battery Storage Technologies Market was valued at US$ 7 Billion in 2024 and is projected to grow at a CAGR of 3.50% to reach US$ 69.5 Billion by 2034.
Prophecy Market Insights has recently published its insights on “Grid-Scale Battery Storage Technologies Market” for the forecast period of 2024-2034. The market is segmented into By Product Type (Tidal Power, Wind Power, and Solar Power), By Application (Electric Vehicles, Power Banks, Cordless Power Tools, and Electric Equipment), and By Region.
This market is expected to witness significant growth during the forecast period on account of storage of electricity when in need. In addition, progress in renewable energy generation is propelling the global market growth. Furthermore, drop in prices of lithium-ion batteries is boosting the global market growth. Growing application of energy storage in various end-user industries is expected to upsurge the target market over the forecast period.
North America to grow at the highest CAGR during the forecast period
In 2018, North America dominated the global market, owing to rising investments for renewable energy sources across the region. In addition, due to increasing number of government policies and rising focus on reducing cost and energy efficiency, U.S. is a major country for grid-scale battery storage technologies in North America. The Asia Pacific grid-scale battery market is expected to witness the fastest growth over the forecast period, owing to growing industrialization and rising urbanization in the region, particularly in China and India.
The research scope provides comprehensive market size, and other in-depth market information details such as, market growth supporting factors, restraining factors, trends, opportunities, market risk factors, market competition, product and services advancements and launches, product/services related regulations overview, and recent developments for the mentioned forecast period. In addition, the report provides key examination of market players operating in the specific market and analysis and outcomes related with the target market for more than 20 countries.
In the current research scope 2023 is considered as base year and 2024 is estimated year for market value/volume calculations. The report offers market estimates for the forecast period – 2024 to 2034. The report provides factual inputs and analysis based on primary and secondary research, which includes insights gained through in-depth interviews with primary research participants. Also, the data is gathered from authentic secondary sources and is verified by key opinion leaders in the target market. The in-house research is applied on gathered information to provide more accurate data points and reduce the margin of error. The in-house research and analysis efforts include various tools and 360o data analysis methodology.
Grid-scale battery storage technologies market report segments the market on the basis of type, application, and region.
The report expected to answer various target market related questions and offers insights on:
- Definition, description, overview of market growth influencing factors, and forecast for the target market
- Scope for related market in the forecast period
- Analysis and outcome for the global grid-scale battery storage technologies market by segment and region followed by countries
- Market segmentation, dominating segment and region followed by country along with market value, share, Y-o-Y growth, CAGR, forecast, and contribution in the market
- Key market player profiles, their recent developments, strategies, financial details, key competencies, presence by region, and product portfolio
- Valuable insights, data, and forecast that can be referenced to plan business strategies, to tap market opportunities, understand business related risks, derive business goals, to recognize trends, and understand target customers/end users
- Insights on recent technologies, pipeline products, regulations related with target market, market investment, and offers insights on political and economical factors that may influence market growth
- PEST Analysis, PORTER’s five forces analysis, opportunity map analysis, drivers and restraints impact analysis, and market attractiveness index
Competitive Analysis
Advancements in the product as well as in manufacturing process, product launches, and strategic partnerships are some trends witnessed in the global grid-scale battery storage technologies market. For instance, in March 2016, Axion Power International, Inc. a technology leader in lead-carbon energy storage has signed an agreement with Tennessee office of France-for installation of an off-grid energy system. It included energy storage system for mobile application.
- A123 Energy Solutions LLC
- Axion Power International, Inc.
- Alevo Group SA
- Ambri, Inc.
- Amprius, Inc.
- Aquion Energy, Inc.
- Electrovaya, Inc.
- Automotive Energy Supply Corporation (AESC)
- BrightSource Energy, Inc.
- Bosch Group AG
Prophecy Market Insights offers required customization on this report according to specific business requirements.
Global GridScale Battery Storage Technologies Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Preview
- Executive Summary
- Key Findings—Global Outlook for medical carts Strategies
- Key Questions this Study will Answer
- Market Snippet, By Product Type
- Market Snippet, By Application
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restrains
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Market Segmentation, By Product Type, Forecast Period up to 10 Years, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Segment Trends
- Tidal Power
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Wind Power
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Solar Power
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Market Segmentation, By Application, Forecast Period up to 10 Years, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Segment Trends
- Electric Vehicles
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Power Banks
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Cordless Power Tools
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Electric Equipment
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Global Market, By Region, Forecast Period up to 10 Years, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Regional Trends
- North America
- Market Size and Forecast (US$ Bn), By Product Type, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Application Type, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Bn), By Product Type, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Application Type, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Bn), By Product Type, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Application Type, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Bn), By Product Type, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Application Type, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- Overview
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Bn), By Product Type, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Application Type, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- GCC
- Israel
- South Africa
- Rest of Middle East
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- A123 Energy Solutions LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Axion Power International, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Alevo Group SA
- Ambri, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Amprius, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Aquion Energy, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Electrovaya, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Automotive Energy Supply Corporation (AESC)
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- BrightSource Energy, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Bosch Group AG
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
Grid-Scale Battery Storage Technologies Market accounted for US$ 7 Billion in 2024 and is estimated to be US$ 69.5 Billion by 2034 to grow at CAGR of 3.50%.
The Grid-Scale Battery Storage Technologies Market is segmented into Product Type, Application and Region.
Market growth is propelled by the increasing integration of renewable energy sources, advancements in battery technology, and the need for grid stability and energy storage solutions.
Challenges include high initial costs, technological limitations, and regulatory complexities associated with grid-scale battery storage technologies.
The report encompasses North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa as key regions. Asia-Pacific is anticipated to dominate the Grid-Scale Battery Storage Technologies Market, propelled by a surge in renewable energy projects, government initiatives, and a growing demand for grid stability in the region.
The key players operating the target market includes A123 Energy Solutions LLC,Axion Power International, Inc.,Alevo Group SA,Ambri, Inc.,Amprius, Inc.,Aquion Energy, Inc.,Electrovaya, Inc. Automotive Energy Supply Corporation (AESC),BrightSource Energy, Inc.,Bosch Group AG