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Global Grid-Scale Battery Market – Analysis and Forecast (2018-2024)

Industry Insights by Type (Lead Acid, Flow, Lithium-Ion, Sodium-Based, and Others), by Ownership (Third party and Utility), by Application (Peak Shift, Ancillary Services, Renewable Integration, Back-Up Power, and Others)

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Global Grid-Scale Battery Market – Analysis and Forecast (2018-2024)

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  1. Global Grid-Scale Battery Market – Analysis and Forecast (2018-2024)

  2. Global Grid-Scale Battery Market Industry Overview The global grid-scale battery Market was valued at USD 1.1 billion in 2017 to reach USD 7.8 billion by 2024, at a CAGR of 31.8% during the forecast period. The high growth in the global market is due to the reducing costs of grid-scale batteries, increasing investment in renewable energy, government subsidiaries, and among others. Along with that, the government regulations to enhance energy efficiency is also contributing to the grid-scale battery industry growth.

  3. Global Grid-Scale Battery Market Growth Drivers Increasing investment in renewable energy and government supportive regulations and subsidiaries to enhance energy efficiency are the major factors driving the grid-scale battery market growth. The investment in the renewable energy is increasing day by day, as it is reducing the threat of climate change and making the environment clearer. Various countries around the world such as China, India, and others are also investing in the solar and wind power to reduce the effect of climate change pollution and sustain economic growth.

  4. Global Grid-Scale Battery Market Geographic Overview: During the forecast period, Asia-Pacific is expected to remain the fastest growing region for the grid-scale battery market, majorly attributed to its ever-increasing population which is creating a huge demand of electricity. Also, the increasing investment in power transmission and distribution is one of the major drivers of the region’s market growth. For instance, in 2017, India launched 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.

  5. Global Grid-Scale Battery Market Competitive Insight Various players operating in the grid-scale battery market are working on providing innovative products and solutions to the market and are investing heavily on the same. For example, General Electric released a containerized energy storage product that has a competitive storage for installation time. 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 are some of the major players operating in grid-scale battery industry. Explore Full Report Sample at: https://www.vynzresearch.com/energy-power/grid-scale-battery-market

  6. About VynZ Research… • VynZ Research is a global market research firm offering research, analytics, and consulting services on business strategies. We have a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies. • VynZ Research has one of the most qualified & experienced analysts, who are constantly tracking the markets and the technologies. The research team has years of proven experience and wide knowledge & understanding of the technology, application, business models, and regulators of the segments and the value chain involved. • A trusted & proven methodology that involves highest quality of primary research, secondary analysis collated & verified through various sources including cross checking with different industry experts. • Serving wide range of customers most of them from Fortune 2000 companies • With a dedicated 24x7 customer helpline our customers can reach for specifying their needs • Developing long term relationship with the clients and satisfying them is one of the crucial notches of the company. VynZ Research aims at gaining and retaining its clients in order to make long term customer relationship.

  7. Global Grid-Scale Battery Market For Free Sample Report :- https://www.vynzresearch.com/energy-power/grid-scale-battery-market/request-sample

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