Global Grid Scale Battery Market - Growth, Trends, and Forecast (2022 - 2030)
SKU ID : INH-13101950 | Publishing Date : 01-Apr-2018 | No. of pages : 100
Declining Cost is Driving the Market
The cost of lithium ion batteries, which are used for grid storage, has declined remarkable and its cost is likely to reduce from USD209/kWh in 2017 to USD100/kWh by 2025. The rapid decline in the cost of batteries would result in widespread adoption for grid storage purposes, and on account of economies of scale associated with the same, the market will grow rapidly.
Asia Pacific Region to Register Highest Market Growth
Asia Pacific region is likely to register highest market growth pertaining to grid scale battery deployment. The countries, such as China, Australia, South Korea, amongst others are building energy storage facilities to support the deployment of renewable energy infrastructure. The development of grid scale battery storage systems would reduce the intermittency associated with renewable power generation.
Key Developments in the Market
• March 2018: Panasonic India, the subsidiary of Japanese firm Panasonic, announced introduction of energy storage solutions targeting the telecom market in India
• March 2018: Samsung SDI has made a joint venture with Chinese inverter manufacturer Sungrow to supply both inverters and lithium batteries to a large-scale energy storage project in Japan
The Major Players include - Saft Groupe S.A., Aquion Energy, GE Energy Storage, Samsung SDI, Panasonic, Johnson Controls, Inc., Toshiba, LG Chem, Ltd., BYD Co. Ltd., EnerVault, amongst others.
Reasons to Purchase this Report
• Current and future grid scale battery storage market outlook in the developed and emerging markets
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• The segment that is expected to dominate the market
• Regions that are expected to witness fastest growth during the forecast period
• Identifying the latest developments and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet in excel
Customization of the Report
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