Panasonic Industry

Sep 20, 2023

Companies Covered  ABB, BYD Company Ltd., Fluence, General Electric, LG Energy Solution, Ltd., NGK Insulators, Ltd., Panasonic Industry Co., Ltd., S&C Electric Company, Samsung SDI Co., Ltd., Tesla, Toshiba Corporation, Contemporary Amperex Technology Co., Limited Key Takeaways from the Market Study As of 2022, the grid-scale battery market was valued at US$ 6.9 billion By battery type, the lithium-ion battery segment is expected to dominate the industry during the forecast period. The lithium-ion battery is a viable large-scale commercial electrochemical energy storage system. Based on deployment, the renewable energy generators segment is anticipated to dominate the industry during the forecast period Based on application, the renewable integration segment is expected to generate high revenue during the forecast period. Grid-scale Battery Market: Key Trends and Opportunistic Frontiers Grid-scale battery storage systems are widely employed to store renewable energy. Modernization and expansion of electric power grids is expected to augment market statistics during the forecast period. The increasing technological advancement in battery technology and developments in battery chemistry, energy density, and cost reduction make grid-scale batteries more efficient and cost-effective. Grid-scale Battery Market – Regional Analysis Asia Pacific is anticipated to grow at a significant rate in the next few years due to an increase in the production of lithium-ion batteries and surge in the usage of utility-scale energy storage systems. The increasing renewable energy goals, rapid urbanization, and grid expansion efforts boost the market demand in the region. North America dominated the global industry, in terms of revenue, in 2021. The region is likely to maintain its dominance during 2022-2031, as per the latest grid-scale battery market forecast. The integration of renewable energy sources, grid stability concerns, and a growing demand for energy storage solutions drive the market demand in the region. Competitive Landscape The global grid-scale battery market is consolidated, with a few large-scale vendors controlling a majority of the share. Most firms are investing significantly in comprehensive research and development activities to increase the availability of e-waste solutions. Transparency Market Research has profiled the following players in its global grid-scale battery market report: ABB Key Developments in the Grid-scale Battery Market Tesla has been a major player in the grid-scale battery market with its Powerpack and Powerwall products. They continue to develop and install large-scale energy storage projects, such as the Hornsdale Power Reserve in South Australia, which has been expanded. Fluence, a joint venture between Siemens and AES, specializes in grid-scale energy storage systems. They have been deploying energy storage solutions worldwide and announced new projects in various regions. Samsung SDI focuses on lithium-ion batteries for various applications, including grid-scale energy storage. They have been working on enhancing the energy density and performance of their batteries. BYD is a Chinese company known for its electric vehicles and energy storage solutions. They have expanded their presence in the grid-scale battery market, both in China and internationally. If You want to Purchase Specific Insights by Segment/Region/Competitor, Request for Customization: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=58749 Grid-scale Battery Market- Key Segments By Battery Type About Transparency Market Research Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information. Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. Contact: