Global Grid-Scale Battery Market to Witness 32.8% CAGR During 2023 – 2030, Attaining the Market Size of USD 9.8 billion by 2030

Published Date: Feb, 2024

The global grid-scale battery market is predicted to grow at 32.8% CAGR during the forecast period with the market size reaching USD 9.8 billion by 2030 from USD 2.1 billion in 2023. The market is driven by factors such as the declining grid-scale battery cost, increasing investment in renewable energy across the globe, increasing support for renewable energy, and government initiatives for energy efficiency. However, some of the environmental applications and durability concerns of these batteries in extreme weather conditions are anticipated to hinder the growth of the market to some extent.

Different types of grid-scale batteries are lead acid batteries, flow batteries, lithium-ion batteries, sodium-based batteries, and others. Lithium-ion batteries hold the largest share in the market due to its superior properties such as high power and energy density, lightweight as compared to other batteries such as nickel-cadmium and nickel-metal-hydride batteries, and the high shelf life of these batteries.

Based on application, the grid-scale battery market is segmented into peak shift, ancillary services, renewable integration, backup power, and others. Others include ramping, microgrids, black start, and transmission/distribution upgrade deferral. Renewable integration is the largest application area in the market and is also anticipated to witness the highest growth during the forecast period. Some of the factors attributed to the market growth are security and resiliency from microgrid applications, increased reliability, energy efficiency, attainment of renewable targets, and others.

Global Grid-Scale Battery Market Segmentation and Key Players

Segment / Key Players

Categorization

Type

Lead Acid, Flow, Lithium-Ion, Sodium-Based, and Others

Ownership

Third party and Utility

Application

Peak Shift, Ancillary Services, Renewable Integration, Back-Up Power, and Others

Key Players

LG Chem, Ltd., Tesla Inc., BYD Company Limited, General Electric Company, Panasonic Corporation, ABB Group, Samsung SDI Co. Ltd., Seiko Epson Corporation, Toshiba Corporation, Fluence Energy, LLC, and GS Yuasa Corporation

Browse Market Insight and In-Depth TOC on "Global Grid Scale Battery Market – Analysis and Forecast (2025–2030)"

Asia-Pacific accounted for the major share in the grid-scale battery industry in 2021, and it is expected to witness the fastest growth in demand for these drives due to its large population base which is creating a huge electricity demand. Also, the increasing investment in power transmission and distribution is one of the major drivers of the region’s market growth.

In 2017, India launched the first grid-scale battery storage system of the country to integrate 175 GW of renewable energy into the energy system by the year 2022. This plan is commissioned and operated by Tata Power Delhi Distribution, and it is a joint project by Mitsubishi and the U.S. energy storage company AES.

North America is the second largest grid-scale battery market primarily due to the technological advancements, and increasing focus on energy storage and renewable energy. U.S. is the largest market in North American grid-scale battery market, due to the presence of a large number of players in the region and government initiatives for renewable energy.

Some of the key players providing grid-scale batteries across the globe are LG Chem, Ltd., Tesla Inc., BYD Company Limited, General Electric Company, Panasonic Corporation, ABB Group, Samsung SDI Co. Ltd., Seiko Epson Corporation, Toshiba Corporation, Fluence Energy, LLC, and GS Yuasa Corporation

Global Grid-scale Battery Market Coverage

Type Insight and Forecast 2025 - 2030

  • AC Drives
  • DC Drives
  • Servo Drives

Voltage Insight and Forecast 2025 - 2030

  • Low Voltage
  • Medium Voltage

Power Range Insight and Forecast 2025 - 2030

  • Micro Power Drives
  • Low Power Drives
  • Medium Power Drives
  • High Power Drives

Application Insight and Forecast 2025 - 2030

  • Fans
  • Pumps
  • Conveyors
  • Compressors
  • Others

End User Insight and Forecast 2025 - 2030

  • Industrial
  • Power Generation
  • Infrastructure
  • Oil & Gas

Geographical Segmentation

Grid-scale battery Market by Region

North America

  • U.S.
  • Canada
  • Mexico

Europe

  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe

Asia-Pacific

  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Indonesia
  • Rest of Asia-Pacific

Middle East & Africa (MEA)

  • Saudi Arabia
  • Qatar
  • Oman
  • Kuwait
  • Rest of MEA

Latin America

  • Brazil
  • Argentina
  • Chile
  • Rest of Latin America