Declining Cost is Driving the Market
The cost of lithium ion batteries, which are used for grid storage, has declined remarkable and its cost is likely to reduce from USD209/kWh in 2017 to USD100/kWh by 2025. The rapid decline in the cost of batteries would result in widespread adoption for grid storage purposes, and on account of economies of scale associated with the same, the market will grow rapidly.
Asia Pacific Region to Register Highest Market Growth
Asia Pacific region is likely to register highest market growth pertaining to grid scale battery deployment. The countries, such as China, Australia, South Korea, amongst others are building energy storage facilities to support the deployment of renewable energy infrastructure. The development of grid scale battery storage systems would reduce the intermittency associated with renewable power generation.
Key Developments in the Market
- March 2018: Panasonic India, the subsidiary of Japanese firm Panasonic, announced introduction of energy storage solutions targeting the telecom market in India
- March 2018: Samsung SDI has made a joint venture with Chinese inverter manufacturer Sungrow to supply both inverters and lithium batteries to a large-scale energy storage project in Japan
Reasons to Purchase this Report
- Current and future grid scale battery storage market outlook in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness fastest growth during the forecast period
- Identifying the latest developments and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet in excel
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2. Research Methodology
3. Market Overview
3.2 Market Size and Demand Forecast until 2023
3.3 Recent Trends and Developments
4. Market Dynamics
5. Supply Chain Analysis
6. Industry Attractiveness - Porter’s Five Forces Analysis
6.1 Bargaining Power of Suppliers
6.2 Bargaining Power of Consumers
6.3 Threat of New Entrants
6.4 Threat of Substitutes
6.5 Competitive Rivalry
7. Regional Market Analysis (Overview, Market Size, and Demand Forecast until 2023)
7.1 North America
7.1.1 United States
7.1.3 Rest of North America
7.2.2 United Kingdom
7.2.4 Rest of Europe
7.3.3 South Korea
7.5.4 Rest of of Asia-Pacific
7.4 Rest of World
8. Market Segmentation and Analysis, By Battery Chemistry (Overview, Market Size, and Demand Forecast until 2023)
8.1 Li-ion based batteries
8.2 Advanced Lead batteries
9. Market Segmentation and Analysis, By Battery Chemistry (Overview, Market Size, and Demand Forecast until 2023)
9.1 Peak Shaving
9.2 Renewable Sources Integration
9.3 Load Shifting
10. Key Company Analysis* (Overview, Products & Services, Financials**, Recent Development, and Analyst View)
10.1 Saft Groupe S.A.
10.2 Aquion Energy
10.3 GE Energy Storage
10.4 Samsung SDI
10.6 Johnson Controls, Inc.
10.8 LG Chem, Ltd.
10.9 BYD Co. Ltd.
10. Competitive Landscape
10.1 Mergers and Acquisitions
10.2 Joint Ventures, Collaborations, and Agreements
10.3 Strategies Adopted by Leading Players
*List not Exhaustive
**Subject to availability on public domain