Global Grid-scale Battery Market 2024-2028

Description

List of Tables

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:

Market Scope
Base Year	2022
End Year	2027
Series Year	2023-2027
Growth Momentum	Accelerate
YOY 2023	20.23%
CAGR	20.88%
Incremental Value	$12247.48mn

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.

Product Code: IRTNTR41151

1 Executive Summary

1.1 Market overview
Exhibit 01: Executive Summary - Chart on Market Overview
Exhibit 02: Executive Summary - Data Table on Market Overview
Exhibit 03: Executive Summary - Chart on Global Market Characteristics
Exhibit 04: Executive Summary - Chart on Market By Geographical Landscape
Exhibit 05: Executive Summary - Chart on Market Segmentation by Application
Exhibit 06: Executive Summary - Chart on Market Segmentation by Battery Type
Exhibit 07: Executive Summary - Chart on Incremental Growth
Exhibit 08: Executive Summary - Data Table on Incremental Growth
Exhibit 09: Executive Summary - Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

4 Historic Market Size

4.1 Global grid-scale battery market 2018 - 2022
Exhibit 18: Historic Market Size - Data Table on global grid-scale battery market 2018 - 2022 ($ million)
4.2 Application Segment Analysis 2018 - 2022
Exhibit 19: Historic Market Size - Application Segment 2018 - 2022 ($ million)
4.3 Battery Type Segment Analysis 2018 - 2022
Exhibit 20: Historic Market Size - Battery Type Segment 2018 - 2022 ($ million)
4.4 Geography Segment Analysis 2018 - 2022
Exhibit 21: Historic Market Size - Geography Segment 2018 - 2022 ($ million)
4.5 Country Segment Analysis 2018 - 2022
Exhibit 22: Historic Market Size - Country Segment 2018 - 2022 ($ million)

5 Five Forces Analysis

5.1 Five forces summary
Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers - Impact of key factors 2023 and 2028
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants - Impact of key factors in 2023 and 2028
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes - Impact of key factors in 2023 and 2028
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry - Impact of key factors in 2023 and 2028
5.7 Market condition
Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Application

6.1 Market segments
Exhibit 30: Chart on Application - Market share 2023-2028 (%)
Exhibit 31: Data Table on Application - Market share 2023-2028 (%)
6.2 Comparison by Application
Exhibit 32: Chart on Comparison by Application
Exhibit 33: Data Table on Comparison by Application
6.3 Ancillary services - Market size and forecast 2023-2028
Exhibit 34: Chart on Ancillary services - Market size and forecast 2023-2028 ($ million)
Exhibit 35: Data Table on Ancillary services - Market size and forecast 2023-2028 ($ million)
Exhibit 36: Chart on Ancillary services - Year-over-year growth 2023-2028 (%)
Exhibit 37: Data Table on Ancillary services - Year-over-year growth 2023-2028 (%)
6.4 Renewable integration - Market size and forecast 2023-2028
Exhibit 38: Chart on Renewable integration - Market size and forecast 2023-2028 ($ million)
Exhibit 39: Data Table on Renewable integration - Market size and forecast 2023-2028 ($ million)
Exhibit 40: Chart on Renewable integration - Year-over-year growth 2023-2028 (%)
Exhibit 41: Data Table on Renewable integration - Year-over-year growth 2023-2028 (%)
6.5 Others - Market size and forecast 2023-2028
Exhibit 42: Chart on Others - Market size and forecast 2023-2028 ($ million)
Exhibit 43: Data Table on Others - Market size and forecast 2023-2028 ($ million)
Exhibit 44: Chart on Others - Year-over-year growth 2023-2028 (%)
Exhibit 45: Data Table on Others - Year-over-year growth 2023-2028 (%)
6.6 Market opportunity by Application
Exhibit 46: Market opportunity by Application ($ million)
Exhibit 47: Data Table on Market opportunity by Application ($ million)

7 Market Segmentation by Battery Type

7.1 Market segments
Exhibit 48: Chart on Battery Type - Market share 2023-2028 (%)
Exhibit 49: Data Table on Battery Type - Market share 2023-2028 (%)
7.2 Comparison by Battery Type
Exhibit 50: Chart on Comparison by Battery Type
Exhibit 51: Data Table on Comparison by Battery Type
7.3 Lithium-based - Market size and forecast 2023-2028
Exhibit 52: Chart on Lithium-based - Market size and forecast 2023-2028 ($ million)
Exhibit 53: Data Table on Lithium-based - Market size and forecast 2023-2028 ($ million)
Exhibit 54: Chart on Lithium-based - Year-over-year growth 2023-2028 (%)
Exhibit 55: Data Table on Lithium-based - Year-over-year growth 2023-2028 (%)
7.4 Others - Market size and forecast 2023-2028
Exhibit 56: Chart on Others - Market size and forecast 2023-2028 ($ million)
Exhibit 57: Data Table on Others - Market size and forecast 2023-2028 ($ million)
Exhibit 58: Chart on Others - Year-over-year growth 2023-2028 (%)
Exhibit 59: Data Table on Others - Year-over-year growth 2023-2028 (%)
7.5 Market opportunity by Battery Type
Exhibit 60: Market opportunity by Battery Type ($ million)
Exhibit 61: Data Table on Market opportunity by Battery Type ($ million)

8 Customer Landscape

8.1 Customer landscape overview
Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
Exhibit 63: Chart on Market share By Geographical Landscape 2023-2028 (%)
Exhibit 64: Data Table on Market share By Geographical Landscape 2023-2028 (%)
9.2 Geographic comparison
Exhibit 65: Chart on Geographic comparison
Exhibit 66: Data Table on Geographic comparison
9.3 APAC - Market size and forecast 2023-2028
Exhibit 67: Chart on APAC - Market size and forecast 2023-2028 ($ million)
Exhibit 68: Data Table on APAC - Market size and forecast 2023-2028 ($ million)
Exhibit 69: Chart on APAC - Year-over-year growth 2023-2028 (%)
Exhibit 70: Data Table on APAC - Year-over-year growth 2023-2028 (%)
9.4 North America - Market size and forecast 2023-2028
Exhibit 71: Chart on North America - Market size and forecast 2023-2028 ($ million)
Exhibit 72: Data Table on North America - Market size and forecast 2023-2028 ($ million)
Exhibit 73: Chart on North America - Year-over-year growth 2023-2028 (%)
Exhibit 74: Data Table on North America - Year-over-year growth 2023-2028 (%)
9.5 Europe - Market size and forecast 2023-2028
Exhibit 75: Chart on Europe - Market size and forecast 2023-2028 ($ million)
Exhibit 76: Data Table on Europe - Market size and forecast 2023-2028 ($ million)
Exhibit 77: Chart on Europe - Year-over-year growth 2023-2028 (%)
Exhibit 78: Data Table on Europe - Year-over-year growth 2023-2028 (%)
9.6 South America - Market size and forecast 2023-2028
Exhibit 79: Chart on South America - Market size and forecast 2023-2028 ($ million)
Exhibit 80: Data Table on South America - Market size and forecast 2023-2028 ($ million)
Exhibit 81: Chart on South America - Year-over-year growth 2023-2028 (%)
Exhibit 82: Data Table on South America - Year-over-year growth 2023-2028 (%)
9.7 Middle East and Africa - Market size and forecast 2023-2028
Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
9.8 China - Market size and forecast 2023-2028
Exhibit 87: Chart on China - Market size and forecast 2023-2028 ($ million)
Exhibit 88: Data Table on China - Market size and forecast 2023-2028 ($ million)
Exhibit 89: Chart on China - Year-over-year growth 2023-2028 (%)
Exhibit 90: Data Table on China - Year-over-year growth 2023-2028 (%)
9.9 India - Market size and forecast 2023-2028
Exhibit 91: Chart on India - Market size and forecast 2023-2028 ($ million)
Exhibit 92: Data Table on India - Market size and forecast 2023-2028 ($ million)
Exhibit 93: Chart on India - Year-over-year growth 2023-2028 (%)
Exhibit 94: Data Table on India - Year-over-year growth 2023-2028 (%)
9.10 US - Market size and forecast 2023-2028
Exhibit 95: Chart on US - Market size and forecast 2023-2028 ($ million)
Exhibit 96: Data Table on US - Market size and forecast 2023-2028 ($ million)
Exhibit 97: Chart on US - Year-over-year growth 2023-2028 (%)
Exhibit 98: Data Table on US - Year-over-year growth 2023-2028 (%)
9.11 Australia - Market size and forecast 2023-2028
Exhibit 99: Chart on Australia - Market size and forecast 2023-2028 ($ million)
Exhibit 100: Data Table on Australia - Market size and forecast 2023-2028 ($ million)
Exhibit 101: Chart on Australia - Year-over-year growth 2023-2028 (%)
Exhibit 102: Data Table on Australia - Year-over-year growth 2023-2028 (%)
9.12 South Korea - Market size and forecast 2023-2028
Exhibit 103: Chart on South Korea - Market size and forecast 2023-2028 ($ million)
Exhibit 104: Data Table on South Korea - Market size and forecast 2023-2028 ($ million)
Exhibit 105: Chart on South Korea - Year-over-year growth 2023-2028 (%)
Exhibit 106: Data Table on South Korea - Year-over-year growth 2023-2028 (%)
9.13 Market opportunity By Geographical Landscape
Exhibit 107: Market opportunity By Geographical Landscape ($ million)
Exhibit 108: Data Tables on Market opportunity By Geographical Landscape ($ million)

10 Drivers, Challenges, and Trends

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 109: Impact of drivers and challenges in 2023 and 2028
10.4 Market trends

11 Vendor Landscape

11.1 Overview
11.2 Vendor landscape
Exhibit 110: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 111: Overview on factors of disruption
11.4 Industry risks
Exhibit 112: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
Exhibit 113: Vendors covered
12.2 Market positioning of vendors
Exhibit 114: Matrix on vendor position and classification
12.3 ABB Ltd.
Exhibit 115: ABB Ltd. - Overview
Exhibit 116: ABB Ltd. - Business segments
Exhibit 117: ABB Ltd. - Key offerings
Exhibit 118: ABB Ltd. - Segment focus
12.4 BYD Co. Ltd.
Exhibit 119: BYD Co. Ltd. - Overview
Exhibit 120: BYD Co. Ltd. - Business segments
Exhibit 121: BYD Co. Ltd. - Key news
Exhibit 122: BYD Co. Ltd. - Key offerings
Exhibit 123: BYD Co. Ltd. - Segment focus
12.5 Contemporary Amperex Technology Co. Ltd.
Exhibit 124: Contemporary Amperex Technology Co. Ltd. - Overview
Exhibit 125: Contemporary Amperex Technology Co. Ltd. - Product / Service
Exhibit 126: Contemporary Amperex Technology Co. Ltd. - Key offerings
12.6 General Electric Co.
Exhibit 127: General Electric Co. - Overview
Exhibit 128: General Electric Co. - Business segments
Exhibit 129: General Electric Co. - Key news
Exhibit 130: General Electric Co. - Key offerings
Exhibit 131: General Electric Co. - Segment focus
12.7 GS Yuasa International Ltd.
Exhibit 132: GS Yuasa International Ltd. - Overview
Exhibit 133: GS Yuasa International Ltd. - Business segments
Exhibit 134: GS Yuasa International Ltd. - Key news
Exhibit 135: GS Yuasa International Ltd. - Key offerings
Exhibit 136: GS Yuasa International Ltd. - Segment focus
12.8 Hitachi Ltd.
Exhibit 137: Hitachi Ltd. - Overview
Exhibit 138: Hitachi Ltd. - Business segments
Exhibit 139: Hitachi Ltd. - Key news
Exhibit 140: Hitachi Ltd. - Key offerings
Exhibit 141: Hitachi Ltd. - Segment focus
12.9 Innolith Science and Technology GmbH
Exhibit 142: Innolith Science and Technology GmbH - Overview
Exhibit 143: Innolith Science and Technology GmbH - Product / Service
Exhibit 144: Innolith Science and Technology GmbH - Key offerings
12.10 Leclanche SA
Exhibit 145: Leclanche SA - Overview
Exhibit 146: Leclanche SA - Business segments
Exhibit 147: Leclanche SA - Key offerings
Exhibit 148: Leclanche SA - Segment focus
12.11 LG Electronics Inc.
Exhibit 149: LG Electronics Inc. - Overview
Exhibit 150: LG Electronics Inc. - Product / Service
Exhibit 151: LG Electronics Inc. - Key offerings
12.12 NGK Insulators Ltd.
Exhibit 152: NGK Insulators Ltd. - Overview
Exhibit 153: NGK Insulators Ltd. - Business segments
Exhibit 154: NGK Insulators Ltd. - Key offerings
Exhibit 155: NGK Insulators Ltd. - Segment focus
12.13 Samsung SDI Co. Ltd.
Exhibit 156: Samsung SDI Co. Ltd. - Overview
Exhibit 157: Samsung SDI Co. Ltd. - Business segments
Exhibit 158: Samsung SDI Co. Ltd. - Key news
Exhibit 159: Samsung SDI Co. Ltd. - Key offerings
Exhibit 160: Samsung SDI Co. Ltd. - Segment focus
12.14 Siemens AG
Exhibit 161: Siemens AG - Overview
Exhibit 162: Siemens AG - Business segments
Exhibit 163: Siemens AG - Key news
Exhibit 164: Siemens AG - Key offerings
Exhibit 165: Siemens AG - Segment focus
12.15 SolarEdge Technologies Inc.
Exhibit 166: SolarEdge Technologies Inc. - Overview
Exhibit 167: SolarEdge Technologies Inc. - Product / Service
Exhibit 168: SolarEdge Technologies Inc. - Key offerings
12.16 Sumitomo Electric Industries Ltd.
Exhibit 169: Sumitomo Electric Industries Ltd. - Overview
Exhibit 170: Sumitomo Electric Industries Ltd. - Business segments
Exhibit 171: Sumitomo Electric Industries Ltd. - Key offerings
Exhibit 172: Sumitomo Electric Industries Ltd. - Segment focus
12.17 Tesla Inc.
Exhibit 173: Tesla Inc. - Overview
Exhibit 174: Tesla Inc. - Business segments
Exhibit 175: Tesla Inc. - Key news
Exhibit 176: Tesla Inc. - Key offerings
Exhibit 177: Tesla Inc. - Segment focus

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 178: Inclusions checklist
Exhibit 179: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 180: Currency conversion rates for US$
13.4 Research methodology
Exhibit 181: Research methodology
Exhibit 182: Validation techniques employed for market sizing
Exhibit 183: Information sources
13.5 List of abbreviations
Exhibit 184: List of abbreviations