Grid Scale Battery Market Size

Grid Scale Battery Market size was valued at USD 8.61 billion in 2024 and is expected to reach USD 324.98 billion by the end of 2037, registering around 31.9% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of grid scale battery is assessed at USD 10.82 billion. The growth of the market can be attributed to the rising investment in renewable energy, and the low cost of grid scale batteries in the coming years. The scarcity of renewable energy sources across the world with the rising consumption of electricity with increasing population is anticipated to drive market growth. Electricity consumption across the world raised over 25,000 terawatt-hours in the year 2021. The growing number of electronic devices used around the world is also rising the growth of the market.

The increasing population, rapid industrialization, and growing urbanization are expected to drive market growth in the coming years. The market growth is also attributed to the increasing utilization of consumer electronics and rising internet penetration worldwide. The escalating industries globally that use a high amount of renewable sources for the operation of heavy machinery and equipment are also anticipated to have a positive impact on the market growth as per the market analysis. The increasing development in the industrial sector involves continuous utilization of manufacturing units that need regular electricity and power supply which increases the demand for electricity. More than 5 billion people worldwide are using the internet in the year 2023 i.e., equal to 65% of the global population.