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Grid Scale Energy Storage-Global Market Insights and Sales Trends 2024
Synopsis
Grid energy storage is a collection of methods used to store electrical energy on a large scale within an electrical power grid. Electrical energy is stored during times when production (especially from intermittent power plants such as renewable electricity sources such as wind power, tidal power, solar power) exceeds consumption, and returned to the grid when production falls below consumption.
The global Grid Scale Energy Storage market size is expected to reach US$ million by 2029, growing at a CAGR of % from 2023 to 2029. The market is mainly driven by the significant applications of Grid Scale Energy Storage in various end use industries. The expanding demands from the Mechanical Energy, Chemical Energy, Electrochemical Energy and Thermal Energy, are propelling Grid Scale Energy Storage market. Pumped Hydroelectric Storage System, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Thermal Storage segment is estimated at % CAGR for the next seven-year period.
Due to the rapid development of the wind power and photovoltaic industry, as well as the increasing awareness of environmental protection in various countries, the energy storage industry is becoming one of the key technologies, which is used in many countries to advance the carbon neutral target process today. The United States, China and Japan occupied the leading position in the installed capacity of energy storage projects, among which the United States is the world's largest energy storage market. The European Union established the European Battery Alliance (EBA) in 2017, aiming to escape the EU's dependence on Asian manufacturers in the battery storage field. According to Data Europa’s statistics, the cumulative installed capacity has reached 48.38GW in 2020. At present, pumped storage accounts for 94% of the energy storage market in Europe, with Spain and Germany having the largest capacity. According to BNEF data, electrochemical energy storage in the United States added 3.97GW / 10.88 GWh in 2021. In terms of power, it accounted for 40% of the global increase. In 2022, the United States passed the IRA, which subsidized independent energy storage for the first time. Under the ITC, new energy storage projects could offset up to 60% of the investment. The effect of the policy has initially appeared, and the energy storage industry in the United States shows an upward trend.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Grid Scale Energy Storage, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Grid Scale Energy Storage market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Grid Scale Energy Storage market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Grid Scale Energy Storage sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Grid Scale Energy Storage covered in this report include ABB, Beacon Power, Hydrostor, EnerVault, GE, Samsung SDI, S&C Electric and SustainX, etc.
The global Grid Scale Energy Storage market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
ABB
Beacon Power
Hydrostor
EnerVault
GE
Samsung SDI
S&C Electric
SustainX
Global Grid Scale Energy Storage market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Grid Scale Energy Storage market, Segment by Type:
Pumped Hydroelectric Storage System
Thermal Storage
Battery Storage
Compressed Air Energy Storage
Flywheel Storage
Molten Salt Storage
Global Grid Scale Energy Storage market, by Application
Mechanical Energy
Chemical Energy
Electrochemical Energy
Thermal Energy
Electromagnetic Energy
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Grid Scale Energy Storage manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Grid Scale Energy Storage in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
Grid energy storage is a collection of methods used to store electrical energy on a large scale within an electrical power grid. Electrical energy is stored during times when production (especially from intermittent power plants such as renewable electricity sources such as wind power, tidal power, solar power) exceeds consumption, and returned to the grid when production falls below consumption.
The global Grid Scale Energy Storage market size is expected to reach US$ million by 2029, growing at a CAGR of % from 2023 to 2029. The market is mainly driven by the significant applications of Grid Scale Energy Storage in various end use industries. The expanding demands from the Mechanical Energy, Chemical Energy, Electrochemical Energy and Thermal Energy, are propelling Grid Scale Energy Storage market. Pumped Hydroelectric Storage System, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Thermal Storage segment is estimated at % CAGR for the next seven-year period.
Due to the rapid development of the wind power and photovoltaic industry, as well as the increasing awareness of environmental protection in various countries, the energy storage industry is becoming one of the key technologies, which is used in many countries to advance the carbon neutral target process today. The United States, China and Japan occupied the leading position in the installed capacity of energy storage projects, among which the United States is the world's largest energy storage market. The European Union established the European Battery Alliance (EBA) in 2017, aiming to escape the EU's dependence on Asian manufacturers in the battery storage field. According to Data Europa’s statistics, the cumulative installed capacity has reached 48.38GW in 2020. At present, pumped storage accounts for 94% of the energy storage market in Europe, with Spain and Germany having the largest capacity. According to BNEF data, electrochemical energy storage in the United States added 3.97GW / 10.88 GWh in 2021. In terms of power, it accounted for 40% of the global increase. In 2022, the United States passed the IRA, which subsidized independent energy storage for the first time. Under the ITC, new energy storage projects could offset up to 60% of the investment. The effect of the policy has initially appeared, and the energy storage industry in the United States shows an upward trend.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Grid Scale Energy Storage, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Grid Scale Energy Storage market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Grid Scale Energy Storage market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Grid Scale Energy Storage sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Grid Scale Energy Storage covered in this report include ABB, Beacon Power, Hydrostor, EnerVault, GE, Samsung SDI, S&C Electric and SustainX, etc.
The global Grid Scale Energy Storage market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
ABB
Beacon Power
Hydrostor
EnerVault
GE
Samsung SDI
S&C Electric
SustainX
Global Grid Scale Energy Storage market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Grid Scale Energy Storage market, Segment by Type:
Pumped Hydroelectric Storage System
Thermal Storage
Battery Storage
Compressed Air Energy Storage
Flywheel Storage
Molten Salt Storage
Global Grid Scale Energy Storage market, by Application
Mechanical Energy
Chemical Energy
Electrochemical Energy
Thermal Energy
Electromagnetic Energy
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Grid Scale Energy Storage manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Grid Scale Energy Storage in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
Index1 Grid Scale Energy Storage Market Overview
1.1 Grid Scale Energy Storage Product Overview
1.2 Grid Scale Energy Storage Market Segment by Type
1.2.1 Pumped Hydroelectric Storage System
1.2.2 Thermal Storage
1.2.3 Battery Storage
1.2.4 Compressed Air Energy Storage
1.2.5 Flywheel Storage
1.2.6 Molten Salt Storage
1.3 Global Grid Scale Energy Storage Market Size by Type
1.3.1 Global Grid Scale Energy Storage Market Size Overview by Type (2018-2029)
1.3.2 Global Grid Scale Energy Storage Historic Market Size Review by Type (2018-2023)
1.3.3 Global Grid Scale Energy Storage Forecasted Market Size by Type (2024-2029)
1.4 Key Regions Market Size Segment by Type
1.4.1 North America Grid Scale Energy Storage Sales Breakdown by Type (2018-2023)
1.4.2 Europe Grid Scale Energy Storage Sales Breakdown by Type (2018-2023)
1.4.3 Asia-Pacific Grid Scale Energy Storage Sales Breakdown by Type (2018-2023)
1.4.4 Latin America Grid Scale Energy Storage Sales Breakdown by Type (2018-2023)
1.4.5 Middle East and Africa Grid Scale Energy Storage Sales Breakdown by Type (2018-2023)
2 Global Grid Scale Energy Storage Market Competition by Company
2.1 Global Top Players by Grid Scale Energy Storage Sales (2018-2023)
2.2 Global Top Players by Grid Scale Energy Storage Revenue (2018-2023)
2.3 Global Top Players by Grid Scale Energy Storage Price (2018-2023)
2.4 Global Top Manufacturers Grid Scale Energy Storage Manufacturing Base Distribution, Sales Area, Product Type
2.5 Grid Scale Energy Storage Market Competitive Situation and Trends
2.5.1 Grid Scale Energy Storage Market Concentration Rate (2018-2023)
2.5.2 Global 5 and 10 Largest Manufacturers by Grid Scale Energy Storage Sales and Revenue in 2022
2.6 Global Top Manufacturers by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in Grid Scale Energy Storage as of 2022)
2.7 Date of Key Manufacturers Enter into Grid Scale Energy Storage Market
2.8 Key Manufacturers Grid Scale Energy Storage Product Offered
2.9 Mergers & Acquisitions, Expansion
3 Grid Scale Energy Storage Status and Outlook by Region
3.1 Global Grid Scale Energy Storage Market Size and CAGR by Region: 2018 VS 2022 VS 2029
3.2 Global Grid Scale Energy Storage Historic Market Size by Region
3.2.1 Global Grid Scale Energy Storage Sales in Volume by Region (2018-2023)
3.2.2 Global Grid Scale Energy Storage Sales in Value by Region (2018-2023)
3.2.3 Global Grid Scale Energy Storage Sales (Volume & Value) Price and Gross Margin (2018-2023)
3.3 Global Grid Scale Energy Storage Forecasted Market Size by Region
3.3.1 Global Grid Scale Energy Storage Sales in Volume by Region (2024-2029)
3.3.2 Global Grid Scale Energy Storage Sales in Value by Region (2024-2029)
3.3.3 Global Grid Scale Energy Storage Sales (Volume & Value), Price and Gross Margin (2024-2029)
4 Global Grid Scale Energy Storage by Application
4.1 Grid Scale Energy Storage Market Segment by Application
4.1.1 Mechanical Energy
4.1.2 Chemical Energy
4.1.3 Electrochemical Energy
4.1.4 Thermal Energy
4.1.5 Electromagnetic Energy
4.2 Global Grid Scale Energy Storage Market Size by Application
4.2.1 Global Grid Scale Energy Storage Market Size Overview by Application (2018-2029)
4.2.2 Global Grid Scale Energy Storage Historic Market Size Review by Application (2018-2023)
4.2.3 Global Grid Scale Energy Storage Forecasted Market Size by Application (2024-2029)
4.3 Key Regions Market Size Segment by Application
4.3.1 North America Grid Scale Energy Storage Sales Breakdown by Application (2018-2023)
4.3.2 Europe Grid Scale Energy Storage Sales Breakdown by Application (2018-2023)
4.3.3 Asia-Pacific Grid Scale Energy Storage Sales Breakdown by Application (2018-2023)
4.3.4 Latin America Grid Scale Energy Storage Sales Breakdown by Application (2018-2023)
4.3.5 Middle East and Africa Grid Scale Energy Storage Sales Breakdown by Application (2018-2023)
5 North America Grid Scale Energy Storage by Country
5.1 North America Grid Scale Energy Storage Historic Market Size by Country
5.1.1 North America Grid Scale Energy Storage Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
5.1.2 North America Grid Scale Energy Storage Sales in Volume by Country (2018-2023)
5.1.3 North America Grid Scale Energy Storage Sales in Value by Country (2018-2023)
5.2 North America Grid Scale Energy Storage Forecasted Market Size by Country
5.2.1 North America Grid Scale Energy Storage Sales in Volume by Country (2024-2029)
5.2.2 North America Grid Scale Energy Storage Sales in Value by Country (2024-2029)
6 Europe Grid Scale Energy Storage by Country
6.1 Europe Grid Scale Energy Storage Historic Market Size by Country
6.1.1 Europe Grid Scale Energy Storage Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
6.1.2 Europe Grid Scale Energy Storage Sales in Volume by Country (2018-2023)
6.1.3 Europe Grid Scale Energy Storage Sales in Value by Country (2018-2023)
6.2 Europe Grid Scale Energy Storage Forecasted Market Size by Country
6.2.1 Europe Grid Scale Energy Storage Sales in Volume by Country (2024-2029)
6.2.2 Europe Grid Scale Energy Storage Sales in Value by Country (2024-2029)
7 Asia-Pacific Grid Scale Energy Storage by Region
7.1 Asia-Pacific Grid Scale Energy Storage Historic Market Size by Region
7.1.1 Asia-Pacific Grid Scale Energy Storage Market Size Growth Rate (CAGR) by Region: 2018 VS 2022 VS 2029
7.1.2 Asia-Pacific Grid Scale Energy Storage Sales in Volume by Region (2018-2023)
7.1.3 Asia-Pacific Grid Scale Energy Storage Sales in Value by Region (2018-2023)
7.2 Asia-Pacific Grid Scale Energy Storage Forecasted Market Size by Region
7.2.1 Asia-Pacific Grid Scale Energy Storage Sales in Volume by Region (2024-2029)
7.2.2 Asia-Pacific Grid Scale Energy Storage Sales in Value by Region (2024-2029)
8 Latin America Grid Scale Energy Storage by Country
8.1 Latin America Grid Scale Energy Storage Historic Market Size by Country
8.1.1 Latin America Grid Scale Energy Storage Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
8.1.2 Latin America Grid Scale Energy Storage Sales in Volume by Country (2018-2023)
8.1.3 Latin America Grid Scale Energy Storage Sales in Value by Country (2018-2023)
8.2 Latin America Grid Scale Energy Storage Forecasted Market Size by Country
8.2.1 Latin America Grid Scale Energy Storage Sales in Volume by Country (2024-2029)
8.2.2 Latin America Grid Scale Energy Storage Sales in Value by Country (2024-2029)
9 Middle East and Africa Grid Scale Energy Storage by Country
9.1 Middle East and Africa Grid Scale Energy Storage Historic Market Size by Country
9.1.1 Middle East and Africa Grid Scale Energy Storage Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
9.1.2 Middle East and Africa Grid Scale Energy Storage Sales in Volume by Country (2018-2023)
9.1.3 Middle East and Africa Grid Scale Energy Storage Sales in Value by Country (2018-2023)
9.2 Middle East and Africa Grid Scale Energy Storage Forecasted Market Size by Country
9.2.1 Middle East and Africa Grid Scale Energy Storage Sales in Volume by Country (2024-2029)
9.2.2 Middle East and Africa Grid Scale Energy Storage Sales in Value by Country (2024-2029)
10 Company Profiles
10.1 ABB
10.1.1 ABB Company Information
10.1.2 ABB Introduction and Business Overview
10.1.3 ABB Grid Scale Energy Storage Sales, Revenue and Gross Margin (2018-2023)
10.1.4 ABB Grid Scale Energy Storage Products Offered
10.1.5 ABB Recent Development
10.2 Beacon Power
10.2.1 Beacon Power Company Information
10.2.2 Beacon Power Introduction and Business Overview
10.2.3 Beacon Power Grid Scale Energy Storage Sales, Revenue and Gross Margin (2018-2023)
10.2.4 Beacon Power Grid Scale Energy Storage Products Offered
10.2.5 Beacon Power Recent Development
10.3 Hydrostor
10.3.1 Hydrostor Company Information
10.3.2 Hydrostor Introduction and Business Overview
10.3.3 Hydrostor Grid Scale Energy Storage Sales, Revenue and Gross Margin (2018-2023)
10.3.4 Hydrostor Grid Scale Energy Storage Products Offered
10.3.5 Hydrostor Recent Development
10.4 EnerVault
10.4.1 EnerVault Company Information
10.4.2 EnerVault Introduction and Business Overview
10.4.3 EnerVault Grid Scale Energy Storage Sales, Revenue and Gross Margin (2018-2023)
10.4.4 EnerVault Grid Scale Energy Storage Products Offered
10.4.5 EnerVault Recent Development
10.5 GE
10.5.1 GE Company Information
10.5.2 GE Introduction and Business Overview
10.5.3 GE Grid Scale Energy Storage Sales, Revenue and Gross Margin (2018-2023)
10.5.4 GE Grid Scale Energy Storage Products Offered
10.5.5 GE Recent Development
10.6 Samsung SDI
10.6.1 Samsung SDI Company Information
10.6.2 Samsung SDI Introduction and Business Overview
10.6.3 Samsung SDI Grid Scale Energy Storage Sales, Revenue and Gross Margin (2018-2023)
10.6.4 Samsung SDI Grid Scale Energy Storage Products Offered
10.6.5 Samsung SDI Recent Development
10.7 S&C Electric
10.7.1 S&C Electric Company Information
10.7.2 S&C Electric Introduction and Business Overview
10.7.3 S&C Electric Grid Scale Energy Storage Sales, Revenue and Gross Margin (2018-2023)
10.7.4 S&C Electric Grid Scale Energy Storage Products Offered
10.7.5 S&C Electric Recent Development
10.8 SustainX
10.8.1 SustainX Company Information
10.8.2 SustainX Introduction and Business Overview
10.8.3 SustainX Grid Scale Energy Storage Sales, Revenue and Gross Margin (2018-2023)
10.8.4 SustainX Grid Scale Energy Storage Products Offered
10.8.5 SustainX Recent Development
11 Upstream, Opportunities, Challenges, Risks and Influences Factors Analysis
11.1 Grid Scale Energy Storage Key Raw Materials
11.1.1 Key Raw Materials
11.1.2 Key Raw Materials Price
11.1.3 Raw Materials Key Suppliers
11.2 Manufacturing Cost Structure
11.2.1 Raw Materials
11.2.2 Labor Cost
11.2.3 Manufacturing Expenses
11.3 Grid Scale Energy Storage Industrial Chain Analysis
11.4 Grid Scale Energy Storage Market Dynamics
11.4.1 Grid Scale Energy Storage Industry Trends
11.4.2 Grid Scale Energy Storage Market Drivers
11.4.3 Grid Scale Energy Storage Market Challenges
11.4.4 Grid Scale Energy Storage Market Restraints
12 Market Strategy Analysis, Distributors
12.1 Sales Channel
12.2 Grid Scale Energy Storage Distributors
12.3 Grid Scale Energy Storage Downstream Customers
13 Research Findings and Conclusion
14 Appendix
14.1 Research Methodology
14.1.1 Methodology/Research Approach
14.1.2 Data Source
14.2 Author Details
14.3 Disclaimer
Published By : QY Research
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