Global Revenue for Advanced Batteries for Utility-Scale Storage is Expected to Reach $3.6 Billion by 2025, According to Navigant Research

A new report from Navigant
Research examines the market for advanced batteries for
utility-scale energy storage, with global market forecasts for energy
capacity, power capacity, and revenue, segmented by region, application,
chemistry, and subchemistry, through 2025.

Improvements in advanced battery energy storage technologies, developing
regional regulatory and market drivers, and emerging new business models
are poised to make utility-scale energy storage a growing and viable
part of the electricity grid in coming years. During the next decade,
growth in advanced batteries for utility-scale energy storage
applications is projected to be robust. Click
to tweet: According to a new report from Navigant Research, global
revenue for advanced batteries for utility-scale storage is expected to
grow from $231.9 million in 2016 to $3.6 billion by 2025.

“Today, several factors are converging to enable the growth of
grid-connected utility-scale energy storage markets,” says William
Tokash, senior research analyst with Navigant Research. “Battery energy
storage systems (BESSs) have demonstrated that value can be delivered by
energy storage technology on the grid, and regional transmission and
distribution (T&D) system operators have recognized these advances and
are enacting new rules to allow BESSs to participate in power markets.”

Because they offer the best mix of performance specifications for most
energy storage applications, lithium ion (Li-ion) batteries lead in
utility-scale applications of batteries on the grid, according to the
report. However, flow batteries have the potential to deliver
long-duration energy storage applications at anticipated low costs.

The report, Advanced
Batteries for Utility-Scale Energy Storage, analyzes the global
market for advanced batteries for utility-scale energy storage. The
study examines the strengths and weaknesses of the major battery
chemistries and how they match to specific applications. Global market
forecasts for energy capacity, power capacity, and revenue, segmented by
region, application, chemistry, and subchemistry, extend through 2025.
An Executive Summary of the report is available for free download on the Navigant
Research website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of the
Energy Technologies, Utility Transformations, Transportation
Efficiencies, and Buildings Innovations sectors. Additional information
about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant, Inc. is a specialized, global professional services firm that
helps clients take control of their future. Navigant’s professionals
apply deep industry knowledge, substantive technical expertise, and an
enterprising approach to help clients build, manage and/or protect their
business interests. With a focus on industries and clients facing
transformational change and significant regulatory or legal pressures,
the Firm primarily serves clients in the healthcare, energy and
financial services sectors. Across our range of advisory, consulting,
outsourcing, and technology/analytics services, Navigant’s practitioners
bring sharp insight that pinpoints opportunities and delivers powerful
results. More information about Navigant can be found at navigant.com.

* The information contained in this press release concerning the
report, Advanced Batteries for Utility-Scale Energy Storage, is a
summary and reflects Navigant Research’s current expectations based on
market data and trend analysis. Market predictions and expectations are
inherently uncertain and actual results may differ materially from those
contained in this press release or the report. Please refer to the full
report for a complete understanding of the assumptions underlying the
report’s conclusions and the methodologies used to create the report.
Neither Navigant Research nor Navigant undertakes any obligation to
update any of the information contained in this press release or the
report.

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