by According to a research report “Stationary Energy Storage Market (By Battery: Lithium Ion, Sodium Sulphur, Lead Acid, Flow Battery; By Type of Energy Storage: Hydrogen and Ammonia Storage, Gravitational Energy Storage, Compressed Air Energy Storage, Liquid Air Storage, Thermal Energy Storage; By Application: Grid Services, Behind the Meter) – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022 – 2030″ published by Precedence Research, the stationary energy storage market is projected to grow from USD 38.72 billion in 2022 and is forecasted to reach USD 224.3 billion by 2030; it is expected to grow at a CAGR of 24.9% from 2021 to 2030.
The study provides an analysis of the period 2017-2030, wherein 2021 to 2030 is the forecast period and 2021 is considered as the base year.
The stationary energy storage market witness strong growth due to increased renewable energy investments, global expansion in the electric vehicle sector, and regulatory changes requiring energy efficiency. Energy policy in both developed and developing countries are being revised to accommodate a significant part of generation produced from renewable energy sources such as wind and solar. Government financial incentives and associated returns are expanding renewable energy investments, which is likely to strengthen the stationary energy storage industry.
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In addition, increased attempts to provide uninterrupted electricity supply during power outages, as well as advances in lithium-ion battery performance characteristics, are likely to boost stationary energy storage market expansion in the coming years. In addition, increasing clean energy system integration, such as wind and solar, for network synchronization, is expected to provide sufficient growth prospects for the stationary energy storage market in the near future.
Furthermore, rising environmental degradation and climate change awareness are motivating many key players to implement sustainable energy strategies and invest heavily in environmentally friendly power generation technologies in order to promote sustainable development among various nations around the world. Such factors are expected to boost the stationary energy storage market’s development in the upcoming years.
Table of Contents
Market Estimations Y-O-Y:
- Market Size Was Valued In 2021: US$ 31.22 Billion
- Market Size Is Projected to Grow By 2022: US$ 38.72 Billion
- Market Size Is Projected to Grow By 2023: US$ 48.07 Billion
- Market Size Is Projected to Grow By 2024: US$ 59.73 Billion
- Market Size Is Projected to Grow By 2025: US$ 74.28 Billion
- Market Size Is Projected to Grow By 2026: US$ 92.48 Billion
- Market Size Is Projected to Grow By 2027: US$ 115.24 Billion
- Market Size Is Projected to Grow By 2028: US$ 143.75 Billion
- Market Size Is Projected to Grow By 2029: US$ 179.48 Billion
- Market Size Is Projected to Grow By 2030: US$ 224.3 Billion
- Compound Annual Growth Rate (CAGR) from 2022 to 2030: 24.9 percent
Scope of the Stationary Energy Storage Market
| Report Coverage | Details |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Largest Market | North America |
| Fastest Growing Market | Europe |
| Segments Covered | Battery,Type of Energy Storage, Applicaion, Region |
Report Highlights:
- Based on the battery, the sodium sulphur segment dominated the global stationary energy storage market in 2020 with highest market share. Rising concerns about greenhouse gas emissions have prompted legislators to introduce favorable regulatory framework for energy storage systems in the previous decade, which will drive the market for stationary energy storage systems. The rising urbanization, rising infrastructural investments, and surge in demand for energy storage is driving is the growth of the segment.
- In 2020, the hydrogen and ammonia storage segment accounted largest revenue share in 2020.
- North America is the largest segment for stationary energy storage market in terms of region. The region’s rise is attributed to increased investment in the rehabilitation of outdated grid networks as well as the growing integration of renewable energy technology. Furthermore, different states in the country have different emission reduction targets, which benefit the stationary energy storage market.
- Europe region is the fastest growing region in the stationary energy storage market. The region’s stationary energy storage market will benefit from rising energy security concerns along with ongoing advancements to improve energy efficiency.
COVID-19 Impact Analysis:
- An unanticipated outbreak of the coronavirus, often known as COVID-19 affected the world economy hard, influencing market movements as well.
- Governments all throughout the world enforced stringent lockdowns, resulting in the closure of different manufacturing sites.
- Due to labor shortages and supply chain disruptions, various projects including energy storage have been postponed, which is negatively impacting the growth of the global stationary energy storage market.
Future of Stationary Energy Storage Market
The stationary energy storage market is becoming more differentiated in terms of storage duration and application such as behind the meter (BTM) and front of the meter (FTM). Overall, two primary elements will continue to drive the market such as renewable energy penetration and power grid flexibility. As a result, these factors will create prospects for the growth of the global stationary energy storage market in the near future.
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Key Developments in the Marketplace:
- Reliance Industries Ltd. announced a $ 144 million investment in Massachusetts-based energy storage business Ambri Inc. in August 2021. Ambri’s long-duration energy storage devices will overcome the safety and economic restrictions of lithium-ion batteries in grid-scale stationary storage applications.
- Tesla plans to deploy 85 MW of solar and 1,274 MWh of storage in 2021. Large-scale battery storage initiatives accounted for the majority of the rise in storage installations, however household storage deployments also grew year over year.
- In February 2017, ABB developed an innovative microgrid in Anchorage, Alaska, that combines battery and flywheel-based storage technologies to evaluate scalability and improve power stability for around 300,000 people.
- Samsung SDI Co., Ltd., a major battery storage manufacturer, teamed up with Dynapower, a leading storage inverter manufacturer, in December 2016 to develop an all-in-one storage solution for commercial and industrial customers. It’s a move that will cut out middlemen, reduce installation costs, and encourage more people to adopt behind-the-meter batteries.
- GS Yuasa Corporation revealed in March 2016 that it had developed a new advanced Nano-Carbon Lead Acid battery. The new SLR-1000 is a two-volt advanced lead battery that offers an industry-leading 5000 cycles at 70% depth of discharge.
- Samsung SDI Co., Ltd. and ABB Ltd. formed a strategic business agreement in March 2015 to develop and commercialize energy storage microgrid systems.
Why should you invest in this report?
If you are aiming to enter the global stationary energy storage market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for stationary energy storage are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
Some of the prominent players in the global stationary energy storage market include:
- Tesla
- Durapower
- Exide Technologies
- Duracell
- Toshiba Corporation
- Panasonic Corporation
- Samsung SDI
- Johnson Controls
- Philips
- Hoppecke Batteries
Segments Covered in the Report
By Battery
- Lithium Ion
- Sodium Sulphur
- Lead Acid
- Flow Battery
By Type of Energy Storage
- Hydrogen and Ammonia Storage
- Gravitational Energy Storage
- Compressed Air Energy Storage
- Liquid Air Storage
- Thermal Energy Storage
By Application
- Grid Services
- Behind the Meter
By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Philippines
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of the Middle East & Africa
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Stationary Energy Storage Market
5.1. COVID-19 Landscape: Stationary Energy Storage Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Stationary Energy Storage Market, By Battery
8.1. Stationary Energy Storage Market, by Battery Type, 2022-2030
8.1.1. Lithium Ion
8.1.1.1. Market Revenue and Forecast (2019-2030)
8.1.2. Sodium Sulphur
8.1.2.1. Market Revenue and Forecast (2019-2030)
8.1.3. Lead Acid
8.1.3.1. Market Revenue and Forecast (2019-2030)
8.1.4. Flow Battery
8.1.4.1. Market Revenue and Forecast (2019-2030)
Chapter 9. Global Stationary Energy Storage Market, By Application
9.1. Stationary Energy Storage Market, by Application, 2022-2030
9.1.1. Grid Services
9.1.1.1. Market Revenue and Forecast (2019-2030)
9.1.2. Behind the Meter
9.1.2.1. Market Revenue and Forecast (2019-2030)
Chapter 10. Global Stationary Energy Storage Market, By Type of Energy Storage
10.1. Stationary Energy Storage Market, by Type of Energy Storage, 2022-2030
10.1.1. Hydrogen and Ammonia Storage
10.1.1.1. Market Revenue and Forecast (2019-2030)
10.1.2. Gravitational Energy Storage
10.1.2.1. Market Revenue and Forecast (2019-2030)
10.1.3. Compressed Air Energy Storage
10.1.3.1. Market Revenue and Forecast (2019-2030)
10.1.4. Liquid Air Storage
10.1.4.1. Market Revenue and Forecast (2019-2030)
10.1.5. Thermal Energy Storage
10.1.5.1. Market Revenue and Forecast (2019-2030)
Chapter 11. Global Stationary Energy Storage Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Battery (2019-2030)
11.1.2. Market Revenue and Forecast, by Application (2019-2030)
11.1.3. Market Revenue and Forecast, by Type of Energy Storage (2019-2030)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Battery (2019-2030)
11.1.4.2. Market Revenue and Forecast, by Application (2019-2030)
11.1.4.3. Market Revenue and Forecast, by Type of Energy Storage (2019-2030)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Battery (2019-2030)
11.1.5.2. Market Revenue and Forecast, by Application (2019-2030)
11.1.5.3. Market Revenue and Forecast, by Type of Energy Storage (2019-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Battery (2019-2030)
11.2.2. Market Revenue and Forecast, by Application (2019-2030)
11.2.3. Market Revenue and Forecast, by Type of Energy Storage (2019-2030)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Battery (2019-2030)
11.2.4.2. Market Revenue and Forecast, by Application (2019-2030)
11.2.4.3. Market Revenue and Forecast, by Type of Energy Storage (2019-2030)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Battery (2019-2030)
11.2.5.2. Market Revenue and Forecast, by Application (2019-2030)
11.2.5.3. Market Revenue and Forecast, by Type of Energy Storage (2019-2030)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Battery (2019-2030)
11.2.6.2. Market Revenue and Forecast, by Application (2019-2030)
11.2.6.3. Market Revenue and Forecast, by Type of Energy Storage (2019-2030)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Battery (2019-2030)
11.2.7.2. Market Revenue and Forecast, by Application (2019-2030)
11.2.7.3. Market Revenue and Forecast, by Type of Energy Storage (2019-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Battery (2019-2030)
11.3.2. Market Revenue and Forecast, by Application (2019-2030)
11.3.3. Market Revenue and Forecast, by Type of Energy Storage (2019-2030)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Battery (2019-2030)
11.3.4.2. Market Revenue and Forecast, by Application (2019-2030)
11.3.4.3. Market Revenue and Forecast, by Type of Energy Storage (2019-2030)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Battery (2019-2030)
11.3.5.2. Market Revenue and Forecast, by Application (2019-2030)
11.3.5.3. Market Revenue and Forecast, by Type of Energy Storage (2019-2030)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Battery (2019-2030)
11.3.6.2. Market Revenue and Forecast, by Application (2019-2030)
11.3.6.3. Market Revenue and Forecast, by Type of Energy Storage (2019-2030)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Battery (2019-2030)
11.3.7.2. Market Revenue and Forecast, by Application (2019-2030)
11.3.7.3. Market Revenue and Forecast, by Type of Energy Storage (2019-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Battery (2019-2030)
11.4.2. Market Revenue and Forecast, by Application (2019-2030)
11.4.3. Market Revenue and Forecast, by Type of Energy Storage (2019-2030)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Battery (2019-2030)
11.4.4.2. Market Revenue and Forecast, by Application (2019-2030)
11.4.4.3. Market Revenue and Forecast, by Type of Energy Storage (2019-2030)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Battery (2019-2030)
11.4.5.2. Market Revenue and Forecast, by Application (2019-2030)
11.4.5.3. Market Revenue and Forecast, by Type of Energy Storage (2019-2030)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Battery (2019-2030)
11.4.6.2. Market Revenue and Forecast, by Application (2019-2030)
11.4.6.3. Market Revenue and Forecast, by Type of Energy Storage (2019-2030)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Battery (2019-2030)
11.4.7.2. Market Revenue and Forecast, by Application (2019-2030)
11.4.7.3. Market Revenue and Forecast, by Type of Energy Storage (2019-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Battery (2019-2030)
11.5.2. Market Revenue and Forecast, by Application (2019-2030)
11.5.3. Market Revenue and Forecast, by Type of Energy Storage (2019-2030)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Battery (2019-2030)
11.5.4.2. Market Revenue and Forecast, by Application (2019-2030)
11.5.4.3. Market Revenue and Forecast, by Type of Energy Storage (2019-2030)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Battery (2019-2030)
11.5.5.2. Market Revenue and Forecast, by Application (2019-2030)
11.5.5.3. Market Revenue and Forecast, by Type of Energy Storage (2019-2030)
Chapter 12. Company Profiles
12.1. Tesla
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Durapower
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Exide Technologies
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Duracell
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Toshiba Corporation
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Panasonic Corporation
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Samsung SDI
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Johnson Controls
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Philips
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Hoppecke Batteries
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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