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

On the basis of type, lithium-ion batteries accomplished the largest revenue share in Qatar Grid-Scale Battery Market – 6Wresearch

In 2022, lithium-ion batteries held a significant revenue share, driven mainly by the rising demand and widespread adoption. The popularity of lithium-ion batteries stems from being a cost-effective and eco-friendly choice, coupled with their abundant availability and ease of procurement from international sources. Further, by ownership model, third-party companies are expected to have the highest share owing to substantial investments and the launch of numerous projects, particularly by Siemens and Tesla.

According to 6Wresearch, the Qatar Grid-Scale Battery Market revenue size is projected to grow at a CAGR of 182.8% during 2023–2029. Kahramaa’s pilot project of a 1MW/4MWh battery system, QatarEnergy's Tawteen program and plans for a billion-dollar blue ammonia plant demonstrates Qatar’s commitment to carbon reduction, fostering a growing market for renewable energy and subsequent deployment of grid-scale batteries across the country. Qatar's first major solar energy plant, Al Kharsaah, opened in October 2022 and comprises more than 1.8 million solar panels, is expected to generate around 2 TWh of electricity per year. Moreover, Qatar announced a US$630 million investment in two further solar plants in Mesaieed and Ras Laffan industrial cities. These solar power plants have a combined peak capacity of 875 MW and are expected to be operational by the end of 2024. The strategy of investing in renewable energy infrastructure has spurred increased demand for battery storage solutions. These batteries store surplus renewable energy for use during high-demand periods or when renewable generation is low. This reduces the reliance on fossil fuels for electricity and contributes to lower greenhouse gas emissions.

According to Shivankar, Research Manager, 6Wresearch, peak shift by application is projected to gain more prominence in the future, in 2022, Microgrid claimed the maximum revenue share. This was mainly due to Siemens' installation of a microgrid at Qatar Solar Energy's Doha factory as well as the requirement to replace small diesel generators powering rural communities.

The Qatar Grid-Scale Battery Market (2023-2029) report provides an in-depth analysis with 15 figures and 4 tables, covered 58 pages. The report comprehensively covers the market by type, ownership model, and application. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.