Qatar Grid-Scale Battery Market Report 2023-2029 Featuring BYD Company, Hitachi Energy, Kahramaa, Siemens, and Tesla

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Jan 12, 2024, 20:00 ET

DUBLIN, Jan. 12, 2024 /PRNewswire/ -- The "Qatar Grid-Scale Battery Market (2023-2029) Growth, Size, Forecast, Analysis, COVID-19 IMPACT, Companies, Share, Industry, Trends, Revenue & Value: Market Forecast by Type, Ownership Model, Application and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.

Qatar's Grid-Scale Battery Market revenue size is projected to grow at a CAGR of 182.8% during 2023-2029.

T he emergence of the Qatar Grid Scale Battery market commenced with the inauguration of its initial grid-scale battery project in 2020, boasting a capacity of 1MW / 4MWh. Kahramaa, which played a pivotal role in introducing this technology, envisions its potential scalability for high-load substations within the country's electrical grid.

Although there is progress, the pace of anticipated grid-scale battery installations remains relatively slow, demanding more concerted efforts. In 2022 and 2023, microgrids were implemented in Doha and at QEERI's desert farm, providing a modest boost to the market. Presently, extensive testing is underway to assess the efficacy of grid-scale batteries in withstanding Qatar's hot climate and to determine their suitability for integration into large-scale renewable energy projects.

This growth is primarily attributed to growing renewable energy projects such as 800MW Al Kharsaah solar PV project near Qatar's capital, Doha, and the inauguration of Qatar's first major solar energy facility, Al Kharsaah, comprising over 1.8 million solar panels with an estimated annual electricity generation capacity of approximately 2 terawatt-hours (TWh) which would require battery energy storage solutions to stabilize the grid during peak demand while ensuring backup power availability in the event of blackouts.

Qatar is also exploring waste-to-energy solutions to diversify its energy portfolio which would further propel the adoption of grid-scale batteries across the region. These factors have been contributing to Qatar Grid-Scale Battery Market Growth.

Market by Type

In 2022, Lithium-Ion batteries occupied the largest revenue share due to advancements in technology and increased manufacturing capabilities which resulted in a reduction in their prices. Additionally, their high energy density has made them the preferred option for grid-scale batteries. Lithium-ion batteries are dominating the Grid-Scale Battery Market in Qatar.

Market by Ownership Model

Utility companies in Qatar are poised to dominate the market as battery storage for renewable energy gains traction, optimizing peak-hour electricity distribution and pricing regulation. Their expertise in grid management and favourable regulations position them as key players, driving their expansion in grid-scale battery deployment.

Market by Application

While peak shift is anticipated to gain more prominence in the future, in 2022, Microgrid will claim the highest revenue share. This was primarily due to Siemens' installation of a microgrid at Qatar Solar Energy's Doha factory and the need to replace small diesel generators powering rural communities.

Key Highlights of the Report

Qatar Grid-Scale Battery Market Overview
Qatar Grid-Scale Battery Market Outlook
Qatar Grid-Scale Battery Market Forecast
Historical Data and Forecast of Qatar Grid-Scale Battery Market Revenues, for the Period 2019-2029F
Historical Data and Forecast of Qatar Grid-Scale Battery Market Revenues, by Type, for the Period 2019-2029F
Historical Data and Forecast of Qatar Grid-Scale Battery Market Revenues, by Ownership Model, for the Period 2019-2029F
Historical Data and Forecast of Qatar Grid-Scale Battery Market Revenues, by Application, for the Period 2019-2029F
Market Opportunity Assessment by Type 2029F
Market Opportunity Assessment by Ownership Model 2029F
Market Opportunity Assessment by Application 2029F
Market Drivers and Restraints
Market Trends
Competitive Benchmarking
Key Strategic Recommendations

Company Profiles

BYD Company Limited
Hitachi Energy LLC
Kahramaa
Siemens Energy AG
Tesla Inc.

Market Scope and Segmentation

By Type

Lithium-Ion
Flow Battery
Sodium-based

By Ownership Model

Third Party
Utility

By Application

Renewable Integration
Peak Shift
Microgrid
Ancillary Services
Back-Up Power

For more information about this report visit https://www.researchandmarkets.com/r/kyxpbc

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