Energy, Automobile, EV, Renewable News | Global Grid-Scale Battery Industry to 2027 – Lithium ion Dominates the Market

Global Grid-Scale Battery Industry to 2027 – Lithium ion Dominates the Market – ResearchAndMarkets.com

November 22, 2021

DUBLIN–(BUSINESS WIRE)–The “Grid-Scale Battery – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.

Amid the COVID-19 crisis, the global market for Grid-Scale Battery estimated at US$1.8 Billion in the year 2020, is projected to reach a revised size of US$11.8 Billion by 2027, growing at a CAGR of 31% over the analysis period 2020-2027.

Lithium-Ion, one of the segments analyzed in the report, is projected to record a 34.3% CAGR and reach US$6.4 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Lead Acid segment is readjusted to a revised 31.8% CAGR for the next 7-year period.

The U.S. Market is Estimated at $533.7 Million, While China is Forecast to Grow at 29.9% CAGR

The Grid-Scale Battery market in the U.S. is estimated at US$533.7 Million in the year 2020. China, the world’s second largest economy, is forecast to reach a projected market size of US$2 Billion by the year 2027 trailing a CAGR of 29.9% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 28.3% and 26.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 21.4% CAGR.

Flow Segment to Record 24.3% CAGR

In the global Flow segment, USA, Canada, Japan, China and Europe will drive the 24.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$155 Million in the year 2020 will reach a projected size of US$708.2 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.4 Billion by the year 2027.

Select Competitors (Total 48 Featured):