Grid-scale energy storage refers to the technologies that are used for energy storage system, and this energy can be used in the future during power blackouts, shortages, or during high demand for power supply. Rising needs to enhance the stability, reliability, and resiliency of the electricity grid, and the requirement to integrate the energy produced from renewable sources like solar and wind is the major factor contributing to the growth of the grid-scale energy storage market.
MARKET DYNAMICS
Increasing deployment of renewable energy generation projects, rise in government legislation and programs to mandate the grid-scale energy storage are significantly fueling the growth of the grid-scale energy storage market. Further, growing awareness regarding effective energy consumption along with the increasing demand to save extra energy produced at the grid location with effective load supervision is expected to drive the demand for the grid-scale energy storage market.
MARKET SCOPE
The "Global Grid-Scale Energy Storage Market Analysis to 2028"? is a specialized and in-depth study of the grid-scale energy storage industry with a special focus on the global market trend analysis. The report aims to provide an overview grid-scale energy storage market with detailed market segmentation as technology, application, and geography. The global grid-scale energy storage market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading grid-scale energy storage market players and offers key trends and opportunities in the grid-scale energy storage market.
MARKET SEGMENTATION
The global grid-scale energy storage market is segmented on the basis of technology, application. On the basis of technology the market is segmented as battery, flywheel, compressed air energy storage, pumped hydro power, thermal. On the basis of application the market is segmented as EV charging, UPS, renewable energy integration, micro grids.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global grid-scale energy storage market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The grid-scale energy storage market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting grid-scale energy storage market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the grid-scale energy storage market in these regions.
MARKET PLAYERS
The reports cover key developments in the grid-scale energy storage market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from grid-scale energy storage market are anticipated to lucrative growth opportunities in the future with the rising demand for grid-scale energy storage in the global market. Below mentioned is the list of few companies engaged in the grid-scale energy storage market.
The report also includes the profiles of key grid-scale energy storage companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- ABB
- General Electric Company
- Hitachi, Ltd.
- Johnson Controls International plc
- LG Chem Ltd.
- Panasonic Corporation
- S&C Electric Company
- Saft Groupe S.A.
- Samsung SDI Co.,Ltd.
- Toshiba Corporation
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.