Although storage may be technically capable of providing essential grid services, utilities and market operators may be unwilling to procure services from BESS if no regulations or guidelines explicitly state that storage can provide these services. Furthermore, storage developers and financing institutions may be unwilling to make the necessary capital investments if there is no guarantee that the services provided by a BESS project will be compensated. Order 841 of the Federal Energy Regulatory Commission (FERC) addressed this issue in wholesale markets in the United States and directed market operators to develop rules governing storage's participation in energy, capacity, and ancillary service markets. Among other things, the rules must ensure open and equal market access for storage systems, taking into account their unique operating and technical characteristics.

According to the report, Changing Consumer Preference for Renewable Energy Sources Due to Climate Change has Been Contributing towards Market Growth. is one of the primary growth factors for the market. The Technological Advancement and Rising Adoption of EV and Solar Energy have Been Driving the Market Growth. is also expected to contribute significantly to the Large Scale Battery Storage market. Overall, Arbitrage applications of Large Scale Battery Storage, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Ownership, such as Third-Party Owned, is boosting the Large Scale Battery Storage market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.

New technologies and major shifts in the industry will be game-changing factors that all players have to react now in order to maintain strong positions in the future. As many industry experts agree that significant changes are ahead. AMA’s Analyst on the Global Large Scale Battery Storage market identified that the demand is rising in many different parts of the world as "Growing Technological Advancement in Battery Storage Technology Will Bring More Opportunities in the Market.". Furthermore, some recent industry insights like "In May 2022, Danish-owned Danfoss India recently opened India’s first privately owned and operated grid-scale battery-based Energy Storage System (ESS) at its Oragadam campus in Chennai to store the excess energy generated by renewables (solar power plant) installed inside the campus. The ESS has been engineered using Danfoss’ sustainable Drives technology." which is constantly making the industry very dynamic.

The report provides an in-depth analysis and forecast about the industry covering the following key features:
o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies
o Analyses the Global Large Scale Battery Storage market according to Type, Application, and regions
o Analyzes the top 10 players in terms of market reach, business strategy, and business focus
o Provides stakeholders’ insights and key drivers & trends of the market

**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2021 currency rates.

Market Size Estimation
In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Large Scale Battery Storage market and other related sub-markets covered in the study.

o Key & emerging players in the market have been observed through secondary research.
o The industry’s supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes.
o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation
The overall Large Scale Battery Storage market size is calculated using market estimation process, the Large Scale Battery Storage market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Large Scale Battery Storage market size has been validated using both top-down and bottom-up approaches.