• Grid-scale Battery market size is forecast to reach $24.5 billion by 2030, after growing at a CAGR of 22.6% during 2024-2030. The increasing adoption of renewable energy sources like solar and wind power, coupled with the growing electric vehicle market, is driving the need for reliable energy storage solutions. Grid-scale batteries offer a solution by storing excess energy during off-peak hours and releasing it when demand is high or renewable energy output is low.
Key Takeaways
• North America dominates the market with a market share of 38%. North America, particularly the United States, dominates the grid-scale battery market, driven by a rapid expansion of energy storage projects.
• In the grid-scale battery market, utility-owned models currently dominate the market. Utilities are increasingly adopting grid-scale battery storage to directly control energy storage, meet regulatory requirements, support renewable integration, and enhance grid stability.
• Renewable Integration is the dominant application type in the grid-scale battery market, driven by the global push for clean energy and the need to address the intermittent nature of renewable sources like solar and wind. It provides a critical solution to one of the biggest challenges in the transition to clean energy by managing the variability and intermittency of renewable sources like solar and wind.
• Tesla
• ABB Ltd
• BYD Company Limited
• CATL
• GS Yuasa Corporation
• Exide Technologies • NGK Insulators • Panasonic Corporation • LG Chem • Saft Groupe S.A.