Global Grid Battery Energy Storage Market to 2030 - Electricity Market Modernization and Cost Reductions are Powering the Industry - ResearchAndMarkets.com

The "Electricity Market Modernization and Cost Reductions Powering the Global Grid Battery Energy Storage Market" report has been added to ResearchAndMarkets.com's offering.

Power utilities, system operators, and authorities worldwide increasingly regard grid battery energy storage as a core component of energy expansion plans. Key factors driving this consideration are increasing price competitiveness owing to declining technology costs, including for batteries and balance of plant, and the continual expansion of intermittent renewables.

Grid battery energy storage market fundamentals proved to be adequately strong against the COVID-19 turmoil. In 2020, the global market expanded 47.3% with 2.4 GW of new power capacity. A robust outlook is expected for the decade ahead. The publisher forecasts the annual power capacity to reach 19.3 GW by 2030, amounting to 134.6 GW/437.4 GWh of cumulated capacity, and the annual investment to rise from $2 billion in 2020 to $15.94 billion by 2030.

Most grid storage active systems were created to supply quick power to frequency regulation services, requiring high-power and short-duration batteries. The author expects future evolutions in regulations and market designs to acknowledge and properly compensate grid storage for other use cases, especially as capacity assets that can replace or defer gas peaker plants, new renewables generation plants, and transmission lines. Consequently, more battery energy storage systems with larger duration profiles are deemed to enter the market as capacity assets.

Market development is poised to remain uneven and highly concentrated in selected countries with supportive market dynamics and regulations. By 2030, only three countries, i.e., China, the United States, and Australia, are likely to account for almost two-thirds of the global market's annual power additions. Meanwhile, in most countries, the economics for grid battery storage is expected to remain challenging pending further cost reductions and market design modernization.

Asia and North America are expected to be the leading regions, accounting for 46.2% and 32.4%, respectively, of the total grid battery storage power capacity by 2030. Europe's participation is expected to fall from 25.6% in 2020 to 13.3% by 2030. With few exceptions of more progressive countries, opportunities in Latin America, Africa, and the Middle East are projected to remain limited.

This study provides regional forecasts and analyses of grid battery storage capacity and investment evolutions in the next 10 years with further details for main countries. It also presents the industry value chain and competitive analysis of key participants. Additionally, the study highlights growth opportunities for industry participants, including hybrid power plants, the use of second-hand batteries, and optimization services.

Key Topics Covered:

1. Strategic Imperatives

2. Growth Opportunity Analysis - Grid Battery Energy Storage Market

• Key Findings
• Scope of Analysis
• Scope of Analysis - Applications
• Regional Segmentation
• Key Growth Metrics
• Value Chain Analysis
• Key Companies
• Growth Drivers
• Growth Drivers Analysis
• Growth Restraints
• Growth Restraints Analysis
• Forecast Assumptions
• Capacity Deployment Forecast - Grid Battery Energy Storage
• Investment and Annual Capacity Additions Forecast - Grid Battery Energy Storage
• Capacity and Investment Forecast Analysis - Grid Battery Energy Storage
• Annual Capacity Additions Forecast by Region - Grid Battery Energy Storage
• Capacity Deployment Forecast by Region - Grid Battery Energy Storage
• Investment Forecast by Region - Grid Battery Energy Storage
• Annual Capacity Additions Forecast by Country - Grid Battery Energy Storage
• Capacity Deployment Forecast Analysis by Region - Grid Battery Energy Storage
• Total Cost per kWh Trends and Forecast Analysis - Grid Battery Energy Storage
• Competitive Environment
• Installed Capacity Share - Grid Battery Energy Storage
• Installed Capacity Share Analysis - Grid Battery Energy Storage

3. Growth Opportunity Analysis - Grid Battery Energy Storage: North America

• Key Growth Metrics for Grid Battery Energy Storage - North America
• Capacity Deployment Forecast - Grid Battery Energy Storage: North America
• Investment and Annual Capacity Additions Forecast - Grid Battery Energy Storage: North America
• Forecast Analysis - Grid Battery Energy Storage: North America
• Annual Capacity Additions Forecast by Country - Grid Battery Energy Storage: North America
• Capacity Deployment Forecast by Country - Grid Battery Energy Storage: North America
• Forecast Analysis in Key Countries - Grid Battery Energy Storage: North America

4. Growth Opportunity Analysis - Grid Battery Energy Storage: Europe

• Key Growth Metrics for Grid Battery Energy Storage - Europe
• Capacity Deployment Forecast - Grid Battery Energy Storage: Europe
• Investment and Annual Capacity Additions Forecast - Grid Battery Energy Storage: Europe
• Forecast Analysis - Grid Battery Energy Storage: Europe
• Annual Capacity Additions Forecast by Country - Grid Battery Energy Storage: Europe
• Capacity Deployment Forecast by Country - Grid Battery Energy Storage: Europe
• Forecast Analysis in Key Countries - Grid Battery Energy Storage: Europe

5. Growth Opportunity Analysis - Grid Battery Energy Storage: Asia

• Key Growth Metrics for Grid Battery Energy Storage - Asia
• Capacity Deployment Forecast - Grid Battery Energy Storage: Asia
• Investment and Annual Capacity Additions Forecast - Grid Battery Energy Storage: Asia
• Forecast Analysis - Grid Battery Energy Storage: Asia
• Annual Capacity Additions Forecast by Country - Grid Battery Energy Storage: Asia
• Capacity Deployment Forecast by Country - Grid Battery Energy Storage: Asia
• Forecast Analysis in Key Countries - Grid Battery Energy Storage: Asia

6. Growth Opportunity Analysis - Grid Battery Energy Storage: Rest of the World

7. Next Steps

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