Report Highlights
The global market for grid-scale electricity storage technologies should grow from $1.6 billion in 2020 to $2.7 billion by 2025, at compound annual growth rate (CAGR) of 10.6% for the period of 2020-2025.
Report Includes
- 58 data tables and 13 additional tables
- An overview of global market for grid-scale electricity storage technologies
- Estimation of the market size and analyses of market trends, with data from 2019, estimates for 2020 to 2025, with projections of compound annual growth rates (CAGRs) through 2025
- Explanation of the market dynamics, trends, opportunities, and factors influencing the global grid-scale electricity storage technologies and assessment of latest trends within the industry
- Market share analysis of the grid-scale electricity storage technologies based on technology, end-user, service, application, and region
- Coverage of investments in research, development and demonstration projects and detailed description of smart grids and distributed power generation systems
- Assessment of regulatory trends and incentives, regional economic development rate, timetable for implementation, and environmental restrictions of the grid-scale electricity storage technologies
- Analysis of the competitive landscape, coverage of recent developments, and current and future demand of grid-scale electricity storage technologies in the global markets
- Market share analysis of the key companies of the industry and coverage of their proprietary technologies, strategic alliances, and other key market strategies
- Comprehensive company profiles of the leading players of the industry, including Bosch Group, Duke Energy Corp., LG CHEM Ltd., Panasonic Corp., and Samsung SDI Co. Ltd.
Report Scope
The scope of this investigation includes the major viable grid-scale electricity storage technologies that are currently being implemented in the power generation industry. These technologies are implemented in order to temporarily store electricity during periods of available generation capacity, for subsequent use during periods of increased demand in support of load leveling, grid balancing and renewable energy integration and intermittent generation balancing. The grid-scale battery storage technologies discussed in this report are increasingly deployed in support of intermittent renewable energy sources, such as solar and wind energy, which frequently generate power outside of peak demand periods. In these cases, grid-scale electricity storage technologies facilitate delivery of renewable power to end users during periods of high and peak use. This supports utility-level regulations and greenhouse gas (GHG) emissions reduction strategies, which are increasingly common in the global electricity market.
The market analysis provided in this report is based on a variety of data sources. These include the most recent government, industry and academic data regarding the projected level of demand for utility-scale electricity storage technologies that could potentially translate into grid-scale battery storage projects. These data were supplemented with an evaluation of major utility electricity storage (UES) and renewable (solar and wind) projects that have been announced or that are currently being proposed. This report provides a comprehensive review of available data in order to provide a realistic, robust and accurate assessment of this quickly changing market.
BCC Research analyzes each major, viable grid-scale battery storage technology, determines the current market status, examines the impact on future markets and presents forecasts for growth over the next 10 years. Technological issues, including the latest trends, are assessed and discussed, as are the current and likely regulatory environments in support of this industry.
BCC Research analyzes the global industry in terms of its manufacturing and the deployment of its technologies or products. BCC Research examines government roles in support of grid-scale battery storage technologies, worldwide, including regulatory support, government requirements and promotional incentives for various grid-scale electricity storage technologies. BCC Research provides a review of the most relevant grid-scale electricity storage technologies, discusses recent trends in capacity installation and unit sales and provides industry overviews and market assessments for each grid-scale electricity storage technology.
Analyst Credentials
BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.
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Report Highlights
The global market for grid-scale battery storage technologies reached $637 million in 2014. This market is projected to reach nearly $4.0 billion in 2025 from $716 million in 2015 at a compound annual growth rate of 18.7% for the period 2015-2025.
Report Includes
- An overview of the global markets for grid-scale electricity storage technologies.
- Analyses of global market trends, with data from 2014, 2015, estimnates for 2020 and projections of CAGRs through 2025.
- A look at factors influencing growth of the market including a growing share of power generation coming from intermittent renewable energy sources, rising commodity prices, and escalating energy peak demand and price in many economies.
- Applications for Grid Scale Battery Storage including:
- Power Generation Support - Load Levelling & Grid Stabilisation
- Renewable Energy Integration/ accommodation of Renewables
- Transmission & Distribution Support
- Distributed Power Generation and End-User Support
- Coverage of typical components including lead-acid batteries, Lithium-ion batteries, Sodium-based batteries, flow batteries, and others.
- Evaluation of overall benefits and challenges for using grid scale battery storage.
- Profiles of major players in the industry.
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