Grid-Scale Electricity Storage Technologies: Global Markets
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.
- 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.
The scope of this investigation includes the major viable GSBS technologies that are currently being implemented in the power generation industry. These technologies are implemented 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, GSBS technologies can facilitate delivery of renewable power to end users during periods of high and peak use, in support of 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 (GSBS) 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. Therefore, this report provides a comprehensive review of available data to provide a realistic, robust and accurate assessment of this quickly changing market.
BCC Research analyzes each major viable grid-scale battery storage technologies, determines their current market status, examines their impact on future markets and presents forecasts of growth over the next ten 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 industry on a worldwide basis 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 (GSBS) technologies worldwide, including regulatory support, government requirements and promotional incentives for various GSBS technologies as relevant and available. BCC Research provides a review of the most relevant GSBS technologies, discusses recent trends in capacity installation and unit sales, and provides industry overviews and market assessments for each GSBS technology.
Christopher Maara holds a Master's degree in Finance and Development (Msc) from University of London's School of Oriental and African Studies (SOAS), and has been a Country Risk, Energy Markets and Lead Analyst with London-based Business Monitor International (BMI) and Visiongain Limited, as well with Investment & Research Ltd based in Nairobi. He is also the Founder and Business Development Manager for Kiri Energy Limited, a renewable energy company based in Nairobi, Kenya, where he has worked on a number small-scale, mini-hydro and solar projects in Kenya involving system design and installation.
- Lead Acid Battery: Technologies and Global Markets (EGY163A)
- Residential Energy Storage, Blockchain and Energy Sharing Systems: Technologies and Global Market (FCB043A)
- Injection Molding: Global Markets and Technologies Through 2023 (PLS089A)
- Microgrids: Technologies and Global Markets (EGY147A)
- Electrical Switches: Technologies and Global Markets (EGY145A)