[Latest] Grid-Scale Battery Storage Technologies Market is estimated to be US$ 45.4 billion by 2032; Rising Need for Energy Security to Propel Market Growth-By PMI

covina, April 27, 2023 (GLOBE NEWSWIRE) --

Battery storage system are electrochemical devices that charges from power plant or grid and discharge that energy later to provide electricity when required. Various energy storage technologies such as, electric battery, pumped storage hydroelectricity, flywheel energy storage, flow battery and super-capacitor are used in grid-scale applications.

Growing investment in renewable energy sources has given positive impact on target market growth. Continuous technological development with innovation and government initiative in energy efficiency is expected to foster the growth of Grid-Scale Battery Storage Technologies market.

Key Highlights:

In October 2022, Quino Energy launched grid-scale battery infrastructure for greater use of wind and solar power. Currently, wind and solar energy provide about 12% of the country's utility-scale electricity production, while these sources' output varies daily depending on the weather. Grid operators understand the need to implement energy storage devices in order for wind and solar to contribute more to the decarbonization of the electricity grid while reliably satisfying customer demand.

Analyst View:

Growing demand for renewable energy storage system from non-residential, residential and utility sectors has provided lucrative opportunities in target market growth. Presence of major key players, growing strategic partnerships and new product launch is anticipated to increase the demand for Grid-Scale Battery Storage Technologies market growth in future.

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Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on "Grid-Scale Battery Storage Technologies Market, By Product Type (Tidal Power, Wind Power, and Solar Power), By Application (Electric Vehicles, Power Banks, Cordless Power Tools, and Electric Equipment), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032"

Key Market Insights from the report:

Grid-Scale Battery Storage Technologies Market accounted for US$ 4.6 billion in 2022 and is estimated to be US$ 45.4 billion by 2032 and is anticipated to register a CAGR of 24.2%. Grid-Scale Battery Storage Technologies Market is segmented based on Product Type, Application and Region.

Based on Product Type, Grid-Scale Battery Storage Technologies Market is segmented into Tidal Power, Wind Power, and Solar Power.
Based on Application, Grid-Scale Battery Storage Technologies Market is segmented into Electric Vehicles, Power Banks, Cordless Power Tools, and Electric Equipment.
By Region, the Grid-Scale Battery Storage Technologies Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Grid-Scale Battery Storage Technologies Market:

The prominent players operating in the Grid-Scale Battery Storage Technologies Market includes

A123 Energy Solutions LLC
Axion Power International, Inc.
Alevo Group SA
Ambri, Inc.
Amprius, Inc.
Aquion Energy, Inc.
Electrovaya, Inc.
Automotive Energy Supply Corporation (AESC)
BrightSource Energy, Inc.
Bosch Group AG and others.

Attributes	Details
Grid-Scale Battery Storage Technologies Market Value (2022)	US$ 4.6 billion
Grid-Scale Battery Storage Technologies Market Projected Value (2032)	US$ 45.4 billion
Grid-Scale Battery Storage Technologies Market CAGR (2022-2032)	24.2%.
Segments Covered	Product Type, Application, Region
Geographies Covered	North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Report Covered	Trends, Analysis ,Forecast, Drivers, Opportunities
Opportunities	Integration with renewable energy sources: Demand for grid stability and resilience Energy storage for remote areas Government initiatives and incentives

Scope Of the report:

Market Preview

- Executive Summary
- Key Findings—Global Outlook for medical carts Strategies
  - Key Questions this Study will Answer
  - Market Snippet, By Product Type
  - Market Snippet, By Application
  - Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions

Market Dynamics, Regulations, and Trends Analysis

- Market Dynamics
  - Drivers
  - Restrains
  - Market Opportunities
  - Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter's Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis

Grid-Scale Battery Storage Technologies Market, By Product Type

- Overview
  - Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
  - Y-o-Y Growth Analysis (%), 2022 – 2032
  - Segment Trends
- Tidal Power
  - Overview
  - Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Wind Power
  - Overview
  - Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Solar Power
  - Overview
  - Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032

Grid-Scale Battery Storage Technologies Market, By Application, 2022 – 2032, (US$ Bn)

- Overview
  - Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
  - Y-o-Y Growth Analysis (%), 2022 – 2032
  - Segment Trends
- Electric Vehicles
  - Overview
  - Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Power Banks
  - Overview
  - Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Cordless Power Tools
  - Overview
  - Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Electric Equipment
  - Overview
  - Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032

Grid-Scale Battery Storage Technologies Market, By Region, 2022 – 2032, (US$ Bn)

- Overview
  - Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
  - Y-o-Y Growth Analysis (%), 2022 – 2032
  - Regional Trends

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Top 10 Questions answered by Aerospace and Defense Telemetry Market research report:

What is the current market size and growth rate?
What are the key market trends and market dynamics?
Who are the major players in the market and what is their market share?
What is the competitive landscape like in the market?
What are the major drivers and restraints affecting the market?
What are the growth opportunities in the market?
What are the regional and local market conditions and consumer behavior?
What is the market size and growth forecast for different regions and countries?
What is the impact of government regulations and policies on the market?

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