Dublin, April 07, 2025 (GLOBE NEWSWIRE) -- The "Grid-Scale Electricity Storage Technologies Market" report has been added to ResearchAndMarkets.com's offering.
This report provides an analysis of the global market for grid-scale electricity storage technologies, reflecting the latest data, trends and market projections. The global market for grid-scale electricity storage technologies is segmented by technology (lithium-ion batteries, lead-acid batteries, flow batteries, sodium-ion batteries and others, which include nickel-based, solid state and zinc batteries); type (utility scale, behind-the-meter); application (utility scale, energy shifting and capacity provision, ancillary services and congestion management, behind-the-meter (commercial, industrial (manufacturing and heavy industry, mining, data centers, agriculture and others; and region.
The report focuses on battery energy storage technologies; other storage technologies, such as pumped hydro, compressed air energy, flywheel and thermal energy are outside the scope of the report. When estimating the grid-scale electricity storage technologies market, transportation and residential sectors/deployments have also been excluded. The major focus segments are utility-scale and behind-the-meter. Energy shifting and capacity provision is a broader categorization that includes load shifting, energy arbitrage, peak demand management, uninterrupted supply of power and microgrid support. Commercial applications include retail stores, office buildings, schools, hospitals, data centers and hotels. Industrial applications include factories, warehouses, large-scale manufacturing plants and chemical plants. Manufacturing and heavy industry is a broader categorization of iron, steel, cement, chemical and petrochemical, auto, aluminum and non-ferrous metals. Where available, global capacities are presented to characterize the annual installation in the dominant locations.
The report concentrates on grid-scale electricity storage technologies currently in commercial use; other promising technologies that are not likely to make it out of the laboratory are not covered. The values of the system in GWh were further converted into revenue in order to determine the market size. The grid-scale electricity storage technologies include batteries, energy management systems, power conversion systems, and safety mechanisms.
The global market for grid-scale electricity storage technologies is estimated to grow from $40.7 billion in 2024 to reach $151.2 billion by the end of 2029, at a compound annual growth rate (CAGR) of 30% from 2024 through 2029.
Grid-scale electricity storage technologies are grid-connected systems that can store energy and then return it to the grid at a more convenient time, such as at night when solar power is unavailable or during a weather event that interferes with electricity production. Energy storage technologies help integrate renewable energy sources, deliver ancillary services and enhance grid resilience to maintain the balance between supply and demand. Historically, pumped-storage hydropower was the most used method, but it can cause challenges in certain geographic conditions. Batteries play a crucial role in gridscale storage because different chemistries can be deployed anywhere in a wide range of capacities.
Battery energy storage systems (BESS), including lithium-ion and sodium-based batteries, are vital in today's energy systems, enabling efficient storage and dispatch of electricity to meet fluctuating demand. They provide scalable solutions for utility projects, and industrial and commercial applications.
Energy storage systems are critical for integrating renewable energy sources, ensuring grid reliability and optimizing energy use. They offer benefits such as efficiency, density, faster response, frequency regulation, grid stability and peak demand management.
Electricity networks can benefit from utility-scale and behind-the-meter (BTM) battery storage services. Utility-scale battery storage can support grid stability and security of supply by offering ancillary services such as inertia, voltage control and frequency regulation, grid forming, fast-starting reserves and energy shifting, which helps balance supply and demand for electricity. However, growth in BTM is concentrated geographically and driven by high electricity prices and support measures. BTM can help reduce electricity costs and offer backup power by using variable electricity tariffs or less electricity during peak periods from the grid, enabling customers to use more self-generated electricity.
Governments worldwide are investing in grid-scale electricity storage technologies to support the global shift toward clean and more resilient energy systems. By 2030, BESS will be pivotal in decarbonizing the energy mix and achieving net-zero goals. According to the International Energy Agency (IEA), the global investment in battery energy storage increased by more than $35 billion in 2023, primarily in grid-scale deployment. G7 countries have set a target of 1,500 GW of new global energy storage by 2030, a six-fold increase from current levels. Demand for integrating renewable energy sources backed by grid modernization initiatives is leading to the increased installation of long-duration energy storage systems. The increasing focus on grid modernization, charging infrastructure and initiatives for developing more efficient, sustainable batteries are the main drivers of the growth of the market for grid-scale electricity storage technologies.
Report Scope:
- 57 data tables and 56 additional tables
- Analyses of trends in the global market for grid-scale electricity storage technologies, with revenue data for 2023, estimates for 2024, forecasts for 2028, and projected CAGRs through 2029
- Estimates of the size and growth forecasts of the global market, and a corresponding market share analysis by technology, application, service type, end-use vertical, and region
- Facts and figures pertaining to the global market dynamics, technological advances, regulations and standards, innovations, prospects, and the impact of macroeconomic factors
- Insights derived from the Porter's Five Forces model, as well as global value/supply chain analysis
- Coverage of investments in research, development and demonstration projects, and smart grids and distributed power generation systems
- Patent analysis, emerging technologies/trends and new developments in the power generation industry
- Analysis of the industry structure, including companies' market shares and global rankings, strategic alliances, M&A activity and a venture funding outlook
- Overview of sustainability trends and ESG developments, with emphasis on consumer attitudes, and the ESG scores and practices of leading companies
- Profiles of leading companies, including Tesla, SUNGROW, CRRC, Fluence Energy, and Beijing HyperStrong Technology Co. Ltd.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 165 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $40.7 Billion |
| Forecasted Market Value (USD) by 2029 | $151.2 Billion |
| Compound Annual Growth Rate | 30.0% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Executive Summary
- Market Outlook
- Scope of Report
- Market Summary
- Key Takeaways
Chapter 2 Market Overview
- Benefits of Grid-Scale Electricity Storage Technologies
- Components of Battery Electricity Storage Technologies
- Batteries
- Power Conversion Systems
- Battery Management System (BMS)
- Value Chain Analysis
- Extraction of Raw Materials
- Processing Raw Materials
- Component Production
- Product Assembly/System Manufacturing
- Systems Integration
- Recycling/Reuse and Disposal
- Comparative Life Cycle Assessment
- Regulatory Framework
- Global Grid-Scale Battery Storage Metrics
- Pricing Analysis
Chapter 3 Market Dynamics
- Market Drivers
- Integration of Battery Storage in Renewable Energy Sector
- Shift in Investment in Energy Storage Technologies
- Grid Modernization
- Market Restraints
- High Initial Costs and Lack of Economic Feasibility
- Technological Limitations and Limited Energy Capacity
- Market Opportunities
- Growing Prevalence of Virtual Power Plants
- Falling Battery Prices
- Supportive Government Regulations
- Market Challenges
- Manufacturing Limitations with Energy Storage Technologies
- Lack of Grid Compatibility
Chapter 4 Emerging Technologies and Developments
- Trends in Grid-Scale Electricity Storage Technologies
- Virtual Power Plants
- Second-Life Batteries for Energy Storage
- Hybrid Energy Storage Solutions
- Integrating Electricity Storage Technologies with Smart Grids
- Emerging Technologies
- Advanced Lithium-Ion Batteries
- Solid-State Batteries
- Zinc-based Batteries
- Iron Flow Batteries
- Iron-air Batteries
- Graphene Batteries
- Enhanced Redox Flow Batteries
- Patent Analysis
- Key Takeaways
Chapter 5 Market Segmentation Analysis
- Market Analysis by Technology
- Lithium-Ion Batteries
- Lead-Acid Batteries
- Flow Batteries
- Sodium-Ion Batteries
- Other Batteries
- Market Analysis by Type
- Utility-Scale
- Behind-the-Meter
- Market Analysis by Application
- Energy Shifting and Capacity Provision
- Ancillary Services
- Congestion Management
- Behind-the-Meter Commercial
- Behind-the-Meter Industrial
- Manufacturing and Heavy Industry
- Mining
- Data Centers
- Agriculture
- Other Applications
- Market Analysis by Region
- North America
- Europe
- Asia-Pacific
- Rest of the World
Chapter 6 Competitive Intelligence
- Company Market Share Analysis
- Strategic Analysis
Chapter 7 Sustainability in the Grid-Scale Electricity Storage Technologies Market: An ESG Perspective
- ESG in the Grid-Scale Electricity Storage Industry
- Sustainability Trends in the Industry
- ESG Practices in the Industry
- Status of ESG
- ESG Score Analysis
- Risk Scale, Exposure Scale and Management Scale
- Future of ESG: Emerging Trends and Opportunities
- Concluding Remarks
Company Profiles
- Beijing Hyperstrong Technology Co. Ltd.
- BYD Co. Ltd.
- CALB
- Contemporary Amperex Technology Co. Ltd.
- CRRC
- Envision Group
- Fluence
- Gotion
- LG Energy Solution
- Nidec Corp.
- Panasonic Energy Co. Ltd.
- Samsung SDI
- Sungrow
- Tesla
- XYZ Storage Technology Corp. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/y46zg
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