The global Grid Scale Battery Market is projected to have significant growth by 2023 with a CAGR of more than 32% during the forecast period. As the North America energy storage market is dominating the global Grid Scale Battery Market due to increase in renewable energy projects and government support.

1. Grid Scale Battery Market – Overview
The surging requirements for electricity spurred by the rising population and the increased
number of devices that use electricity are raising the need for new and improved storage
solutions. Reports that evaluate the energy and power industry have been made available by
Market Research Future which creates reports on several industry verticals that review the
market growth and prospects. The market is predicted to achieve a CAGR of roughly 32% in
the duration of the forecast period.
The requirement for large scale storage within an electrical power grid is anticipated to spur
the demand for grid scale battery market. Improvements in battery storage and their efficiency
are expected to motivate the expansion of grid scale batteries in the coming years. Furthermore,
the broadening of applications for grid scale battery is expected to create new opportunities for
expansion in the forecast period.
Segmental Analysis
The segmentation of the Grid Scale Battery Market Analysis is carried out on the basis of
battery type, power generation, applications, and region.
On the basis of battery type, the grid scale battery market is segmented into flow batteries,
lithium-ion batteries, sodium-based battery, and zinc-hybrid batteries.
Based on power generation, the grid scale battery market is segmented into power capacity or
rating and energy capacity.
Based on applications, the grid scale battery market is segmented into load shifting, peak
shaving, renewable sources integration, and backup power.
The Regions included in the grid scale battery market are Asia Pacific, Europe, North America
and rest of world.
Regional Analysis
The regional analysis of the grid scale battery market consists of regions such as Asia Pacific,
Europe, North America and rest of world.
The grid scale battery market globally is projected to flourish owing to the upsurge in
investment in renewable energy, and the dropping prices of the grid-scale battery. Moreover,
firms included in this sector are increasingly focusing on R & D to guarantee improved
operational efficiency because of the rising fleet players in the market. The North American
region is controlling this market owing to the surge of renewable energy in the residential
sector, primarily due to the initiatives and measures that have been taken to pave the way for
utility-scale policy and storage development. The solar development is adding to a new
complementary technology area which eventually is helping the growth in the grid scale battery
market.
Competitive Analysis

2. The companies functioning in the market are persistently taking on the hindrances to progress
and are forming strategies that are projected to guide to a beneficial outcome on the market’s
advancement. The advancement of the market is upgraded chiefly due to the reduction in
promotional and miscellaneous expenses. The absorbed expenses in the market are readily
dispensed with, opening more room for the development in the market. Additionally, the deals
being coined in the market are likely to additionally inspire the development of the market in
the impending years. An intensified growth pace is observed due to the productive effect
exerted by the market forces both externally and internally. The progress capability of the
market is bolstered by the accretive nature of the assets available in the market. The market is
projected to accomplish an absolute lead in the market place owing to improved strategies in
specific areas.
Prominent Players
The chief competitors in the grid scale battery market globally are Samsung (South Korea),
Fluence (US), Tesla (US), GS Yuasa (Japan), Panasonic (Japan), LG Chem (South Korea),
BYD Company (China), Saft (France), S&C Electric (US), ABB (Switzerland), GE (US),
Toshiba (Japan), and NGK Insulators (Japan).
Industry Updates:
Feb 2019 India has obtained its first grid-scale battery energy storage system, the 10 MW
system housed at Tata Power Delhi Distribution’s Rohini substation is supposed to be South
Asia’s biggest. The 10 MW grid-connected system, held by AES and Mitsubishi Corporation,
will lay the trail for a broader implementation of grid-scale energy storage technology
throughout India. It uses the Advancion energy storage platform from Fluence, a joint
undertaking formed by AES and Siemens.
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