Stationary Battery Storage Market Size by Battery, Application and Region – Segment-Level Market Assessment, Growth Opportunity Analysis, Competitive Mapping & Forecast to 2029
Overview
Stationary Battery Storage Market size is expected to reach US$ 172.60 Bn. by 2029, growing at a CAGR of 25.1% during the forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of
same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Stationary Battery Storage Market Dynamics:
Stationary battery storage market growth will be driven by robust need to transform conventional grids to sustainable ones has led to a huge increase in number of electrical networks up-gradation and grid refurbishment projects. Frequent grid failures at these places coupled with the wide requirement for electricity will thus, collectively drive demand for emergency power supply, setting the ground lucrative for stationary battery storage industry from emergency power supply.
Expansion of communication network on account of progression in wireless technologies will expand the stationary battery storage market globally. Recurrent power failures and outages along with lack of efficient monitoring systems through the developing nations will complement the business outlook. Rapid technological advancements toward development of distributed generation technologies will boost product adoption.
Flow battery segment is expected to hold largest share and dominate the market during the forecast period. Technological advancement about development of cost-effective and efficient storage solutions coupled with growing investment toward integration of sustainable grid infrastructure will stimulate the business growth. Higher product efficiency and longer shelf life are some of the projecting features which will make its adoption preferable when compared with other alternatives.
The emergency power segment is projected to be the fastest-growing segment in the stationary battery storage market during the forecast period. Emergency power applications are usual to exceed the installation of 21 GW units by 2030. Growing investments toward refurbishment & up-gradation of an ageing electrical network across North America and Europe will improve the product adoption.
Stationary Battery Storage Market Regional Insights:
Europe holds the largest share and is expected to grow at a rapid pace during the forecast period. The European market is anticipated to witness an appreciable growth on account of growing consumer awareness toward the security of power supply coupled with the introduction of stringent regulatory framework about the adoption of energy-efficient solutions in countries like Germany. For instance, the Energy Efficiency Directive proposed by the Europe Commission has established a xx% energy efficiency target for the year 2027.
China, as per market experts, will prove to be a beneficial business ground for stationary battery storage market investors. A plethora of factors that can be placed behind this forecast includes wide commercialization, growing regional population coupled with surging demand for power, and the Chinese government’s massive investment in grid upgradation.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Stationary Battery Storage Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Global Stationary Battery Storage Market.
Stationary Battery Storage Market Key Highlights:
• Global Stationary Battery Storage Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Stationary Battery Storage Market
• Global Stationary Battery Storage Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global Stationary Battery Storage Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Global Stationary Battery Storage Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Stationary Battery Storage Market are also profiled.
The report has considered the base year of 2022 and past four years trend. 2022 figures are at actuals, however due to different dynamics of year 2022, market forecast is not only dependent upon 2022, but on the basis of 2017-2022.
Stationary Battery Storage Market: Inquire before buying
| Stationary Battery Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2022 | Forecast Period: | 2023-2029 |
| Historical Data: | 2017 to 2022 | Market Size in 2022: | US $ 35.99 Bn. |
| Forecast Period 2023 to 2029 CAGR: | 25.1% | Market Size in 2029: | US $ 172.60 Bn. |
| Segments Covered: | by Battery | • Lithium ion • Sodium Sulphur • Lead Acid • Flow Battery • Others |
|
| by Application | • Emergency power • Communication base station o Lithium-ion o Lead acid Flooded VRLA o Flow battery o Others • Local energy storage • Remote relay station • Uninterruptible power supplies (UPS) |
||
Stationary Battery Storage Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Stationary Battery Storage Market Key player
• Tesla
• ACDelco
• Durapower
• Uniper
• Johnson Controls, Inc.
• Exide Technologies
• Duracell, Inc.
• BYD Co., Ltd.
• Toshiba Corporation
• Samsung SDI Co., Ltd
• Koninklijke Philips N.V.
• Panasonic Corporation
• GS Yuasa International Ltd
• A123 Systems, LLC
• Hitachi Chemical Co., Ltd
• LG Chem Ltd.
• Hoppecke Batteries, Inc.
• Furukawa Battery Co., Ltd.
• Enersys. Inc
• Mutlu Batteries
• Siemens AG
Frequently Asked Questions:
1. Which region has the largest share in Global Stationary Battery Storage Market?
Ans: Europe region held the highest share in 2022.
2. What is the growth rate of Global Stationary Battery Storage Market?
Ans: The Global Stationary Battery Storage Market is growing at a CAGR of 25.1% during forecasting period 2023-2029.
3. What is scope of the Global Stationary Battery Storage Market report?
Ans: Global Stationary Battery Storage Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global Stationary Battery Storage Market?
Ans: The important key players in the Global Stationary Battery Storage Market are – Tesla, ACDelco, Durapower, Uniper, Johnson Controls, Inc., Exide Technologies, Duracell, Inc., BYD Co., Ltd., Toshiba Corporation, Samsung SDI Co., Ltd, Koninklijke Philips N.V., Panasonic Corporation, GS Yuasa International Ltd, A123 Systems, LLC, Hitachi Chemical Co., Ltd, LG Chem Ltd., Hoppecke Batteries, Inc., Furukawa Battery Co., Ltd., Enersys. Inc, Mutlu Batteries, Siemens AG
5. What is the study period of this Market?
Ans: The Global Stationary Battery Storage Market is studied from 2022 to 2029.