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Industry Trends
Grid scale stationary battery storage market size exceeded USD 9 Billion in 2019 and is set to register more than 15.4% CAGR between 2020 and 2030. Increasing investment toward sustainable energy sources will propel the demand for an efficient storage solution, thereby enhancing the grid scale stationary battery storage industry growth.
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Growing renewable energy sector coupled with government efforts to reduce carbon emissions will drive the global grid scale stationary battery storage market trends. Clean energy sector has witnessed a significant thrust in recent years, which has positively impacted the market statistics for grid scale stationary battery storage. Rising demand for grid stability and electricity supply concerns will further fuel the market demand.
Report Coverage | Details |
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Base Year: | 2019 |
Market Size in 2019: | 9 Billion (USD) |
Forecast Period: | 2020 to 2030 |
Forecast Period 2020 to 2030 CAGR: | 15.40% |
2030 Value Projection: | 40 Billion (USD) |
Historical Data for: | 2014 to 2019 |
No. of Pages: | 410 |
Tables, Charts & Figures: | 611 |
Segments covered: | Battery, Grid services |
Growth Drivers: |
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Pitfalls & Challenges: |
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However, the global economy has been severely impacted by an unforeseen outbreak of the novel coronavirus, with profound impact on the global market. The outbreak has delayed a wide array of projects including renewable integration and energy storage due to large scale disruption in supply chains and shortage of manpower which is significantly impacting the overall market growth.
Global market report features a detailed analysis of industry trends segmented across battery and grid services on regional basis. Moreover, the market forecasts & estimates are in line with the data represented by authorities including the International Energy Agency (IEA), Energy Information Administration (EIA), International Renewable Energy Agency (IRENA), government regulatory bodies, and company press releases.
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The lithium ion battery volume, in 2019 accounted for over 50% of the total market share. Improved life cycle when compared to its lead acid counterpart has produced an extensive growth for lithium-ion batteries, augmenting its position in grid scale stationary battery storage market share. Declining cost of Li-ion batteries has further provided favorable opportunities for business expansion.
In addition, high energy density of these batteries makes them suitable for applications with high power requirements. These favorable features have led to the growing installation of lithium ion based stationary battery storage systems, which will further complement the industry growth during the forecast timeframe.
Grid scale stationary battery storage market from black start services surpassed USD 290 Million in 2019. Growing market demand for power system flexibility pertaining to power system failures or power outages has propelled the demand for efficient systems for initiation of black start.
For instance, In May 2017, Imperial Irrigation District utility successfully demonstrated the firing of an idle state combined cycle gas turbine using the black start function of an ESS system. The 33MW/20 MWh lithium ion based ESS kickstarted a 44MW combined cycle plant located at El Centro Generating Station, California. The stationary battery storage system’s ability to restore power without utilizing any external transmission lines will further augment the industry outlook.
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North America grid scale stationary battery storage market is set to witness over 18% CAGR between 2020 and 2030. The U.S. is one of the major energy consumers where grid scale storage battery systems have gained significant penetration over the past decade. Growing investment toward refurbishment of existing grid network along with growing integration of renewable energy technologies are some of the paramount factors driving the regional market outlook.
For instance, several U.S. states have individual emission reduction targets, thereby positively influencing the grid scale stationary storage battery industry statistics. Positive industrial sector growth coupled with efforts to maintain grid stability with the integration of renewable energy sources will further push the market statistics.
Overseas business expansion has emerged as the key focus area for industry participants. Market players are increasingly targeting the developing and poor regions of world to tap the growing energy storage systems market demand. Moreover, industry leaders are investing toward new product development to consolidate and enhance their market share across the stationary battery storage industry.
The prominent players profiled in grid scale stationary battery storage market report includes Tesla, Uniper, Durapower, Johnson controls, inc., Toshiba Corporation, Koninklijke Philips N.V., Panasonic Corporation, A123 Systems, LLC, Hoppecke Batteries, Inc. amongst other players.
Grid scale stationary battery storage market research report includes in-depth coverage of the market with estimates & forecast in terms of “MW, and ‘USD” from 2014 to 2030, for the following segments:
By Battery
By Grid Services
The above information has been provided for the following regions and states: