Global Grid Battery Market

Report Description

https://www.srmvmarketresearch.com/product/1555418/global-grid-battery-market

SRMV market Research forecasts the Global Grid Battery Market to grow from USD 1.53 billion in 2019 to USD 61.73 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 31.29% during the forecast period. The factors driving the market growth are ever-increasing focus on rural electrification by deploying Grid batteries, cost reduction in R&D at technologies related to battery storage and Government Subsidies regarding green energy generation.

Battery storage technologies with low cost, high potential, long lifetime, higher power, and greater efficiency can be installed throughout the grid. Hence, batteries are desirable for utilization in grid-level storage. Furthermore, lithium-ion is one of the commonly used storage technologies in present industries, a wide range of different battery technologies are offering the potentials that can provide profitable services to electricity grids around the world and minimize the energy losses. The amount of energy supply to the grid can influence the value and types of services provided by a vendor. Increased levels of energy may rise the need for frequency control services to manage increased variability and uncertainty in the power system.

Global Grid Battery Market Analysis, by Region (2019 vs 2032) (US$ BN)  

 lithium-ion batteries segment is anticipated to grow at higher rate during the forecast period.

The growth of this segment is mainly due to the manufacturer’s preference for above 36V Li-ion batteries support and power high-current applications with a greater life span. Li-ion batteries with higher voltage range are the most demanded and used for various applications as they are equipped with high capacity and capabilities. Li-ion is featured with a built-in automatic battery management system (BMS), that stabilizes peak performance by preventing overcharging that keeps the battery running without overheating and maximizing the life cycle of the cell. Moreover, lithium-ion is dropping in price, it is anticipated that it will remain expensive for most grid-scale applications for a certain period until there is development in its storage facility about cost considerations.

Asia-Pacific is the major regions in the Grid Battery Market throughout the forecast period.

Asia-Pacific is anticipated to grow due to the fast rate of industrialization and rural electrification by mini-grids and increasing government subsidies to the grid handling companies. Asia pacific has more developing countries like China, India, and Pakistan, etc. that has a greater demand for electricity in recent days due to rapid growth in industries and electricity demand for highly populous countries in that region. The expanding grid in this region is likely to meet the electricity demand that includes large amounts of renewable energy, Hybrid energy which is becoming increasingly cost-effective. The deployment of new energy systems is expected to present the chance for the rise in demand for grid- batteries during the forecast period.

Companies operating in the field of Grid Battery Market are Panasonic, General Electric,Abb, Siemens AG, Samsung SDI, LG Chem, Tesla, Hitachi, AEG Power Solutions, NEC, Mitsubishi Heavy Industries (MHI) Group, , The Aes Corporation, Corvus Energy and Alevo Group.

Types Covered:

·       Sodium Based

·       Lithium-Ion

·       Flow

·       Lead Acid

·       Other Battery Types

Ownerships Covered:

·       Utility Owned

·       Third-Party Owned

Elements Covered:

·       Hardware

·       Battery

·       Other Elements

Connections Covered:

·       Off-Grid Connection

·       On-Grid Connection

Applications Covered:

·       Peak Shift

·       Back-Up Power

·       Renewable Integration

·       Ancillary Services

·       Other Applications

Research Approach

SRMV market research is carried by extensive usage of secondary research sources, like research publications, Associations, Journals and Government websites to validate and collect information useful for this technical, market-oriented, and commercial study of every market. The points mentioned below explain the research methodology applied in making report.

Ø  Primary and secondary research has been conducted to determine the market segmentation, analytical data that linked to the research area across various countries for different technologies and services over a period.

Ø  Key players are identified by their shares, performance, etc. thereby, company profiling is provided by secondary research.

Ø  Based on all the gathered data, an analysis has been done to categorize the best performing or promising technology, service, or area of market in respective countries that holds major part of the market globally.

What we offer in reports:

Ø  Market Strategies for the new entrants and for International Expansion.

Ø  Market growth assessments on the regional and global bases of various geographies.

Ø  Opportunity Assessment and Competitor Assessment for every market.

Ø  Strategic recommendations in key business segments based on the market estimations.

Ø  Product portfolio with Product to Market Assessment, geographical presence and their performance analysis.

Ø  Technology Exploration, Supply Chain Analysis.

Ø  Production Analysis, Application Analysis and Feasibility Analysis of each segment.

Ø  Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)

Ø  Porter’s five forces analysis, SWOT analysis, etc.

Ø  Supply chain trends mapping the latest technological advancements of many companies in company profiling.

Ø  Polices and Regulatory Factors that exists and new that control the market and its trend.