"According to a market report by Lucintel, the future of the global grid-scale battery market looks promising with opportunities in the renewable integration, peak shift, ancillary services, and back-up powerapplications. The global grid-scale battery market is expected to reach an estimated $26.6 billion by 2030 with a CAGR of 30.2% from 2024 to 2030. The major drivers for this market are increasing demand for battery based renewable energy, growing preference for molten salt batteries, and significant growth in rural electrification.

A more than 150 – page report is developed to understand Trends, opportunity and forecast in grid-scale battery market to 2030 by type (lithium-ion, lead acid, flow battery, sodium-based, and others), ownership model (third-party and utility), application (renewable integration, peak shift, ancillary services, back-up power, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)In this market, lithium-ion, lead acid, flow, and sodium-basedare the major segments of grid-scale battery market by type. Lucintel forecast that lithium-ion is expected to witness highest growth over the forecast period due to its substantial application in numerous energy sources owing to its features, such as high energy density, quick recharge, high discharge power, light weight, and long life.

Within this market, renewable integration is expected to witness highest growth over the forecast perioddue to significant use of renewable energy sources like solar and wind in the grid-scale batteries.

North America is expected to witness highest growth over the forecast period due to availability of major grid scale battery storage systems and growing need for battery storage powered by renewable energy in the residential, non-residential, and utility sectors of the region.

LG Chem, Samsung, Panasonic, Fluence, Tesla, BYD Company, ABB, GE, GS Yuasa, and Toshiba are the major suppliers in the grid-scale battery market.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]