Grid Scale Battery Market Growth Opportunities by Manufacturers, Regions, Type and Outlook to 2023


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The major growth driver identified in the grid scale battery market is the large-scale addition of renewable power projects. In a bid to promote the growth of clean energy sources, countries across the world are setting up large number of renewable power projects such as wind and solar power plants. On the basis of type, the grid scale battery market is categorized into lithium-ion, lead acid, flow battery, sodium-based battery, and others.

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The major restraint identified in the grid scale battery market are the additional capital investment required in installing these batteries. Various utilities, owing to budget constraints are reluctant to invest on the installation of these batteries. The reluctance offered by these utilities restrict the growth of the grid scale battery market.

Major opportunities identified in the grid scale battery market is the rising demand for these batteries from fast growing renewable energy markets such as China, India, and other developing nations. With the ambitious renewable power capacity addition targets, these countries are witnessing large scale investment in the development of wind and solar power projects.

Grid Scale Battery

Asia-Pacific is expected witness highest growth in the grid scale battery market owing to large scale capacity addition targets of renewable power projects in countries such as China, India, Japan, Indonesia, and South Korea. The rapidly advancing renewable power capacity is expected to positively influence the growth of grid scale battery market.

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Some of the major players operating in the global grid scale battery market are LG Chem Ltd., Panasonic Corporation, Samsung SDI Co. Ltd. Fluence Energy LLC, Tesla Inc., BYD company limited, ABB Group, The General Electric Company, Toshiba Corporation, and SAFT Groupe.

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