>
>

Grid Scale Stationary Battery Storage Market Size - By Battery (Lithium-Ion, Sodium Sulphur, Lead Acid, Flow Battery), By Application, Regional Outlook & Forecast, 2024 – 2032

Download Free PDF

Grid Scale Stationary Battery Storage Market Size

The global grid scale stationary battery storage market size was valued at USD 62.6 billion in 2023 and is estimated to grow at a CAGR of 26.4% from 2024 to 2032. The rapid development of energy sources such as solar and wind energy has led to a need for the advancement of strong energy storage technologies in order to improve grid reliability and reduce intermittency. Grid-scale battery storage systems generate energy to be stored for consumption during periods of high energy demand and peak production.
 

Grid Scale Stationary Battery Storage Market

With regards to battery technology the latest developed include lithium-ion, solid-state, and flow batteries which are greatly enhancing efficiency, lifecycle performance, and energy density. All these technological upgrades are preparing grid-scale battery storage systems to be more economical and functional. Regulatory authorities around the world are introducing policies and incentives which can assist in the utilization of grid-scale energy storage systems. These very much include subsidies, tax credits, and government requisites for energy storage systems that are improving the market.

Grid Scale Stationary Battery Storage Market Trends

The development in manufacturing processes and the economies of scale are causing a decline in the costs of battery components which is making grid scale battery storage more cost efficient. As a result, battery storage solutions are becoming more cost-effective relative to other methods of peaking power and grid stabilization, such as power plants. More and more utilities and grid operators are now understanding the benefits of integrating battery storage systems for frequency regulation, peak shaving, and modernizing the grid. The ability of battery storage to provide these fast response ancillary services in return provides more grid stability and efficiency.
 

Grid Scale Stationary Battery Storage Market Analysis

Grid Scale Stationary Battery Storage Market Size, By Battery, 2022-2032 (USD Billion)

Grid scale stationary battery storage market, based on battery, is categorized into lead acid, lithium-ion, sodium sulphur, flow battery, and others. The lithium-ion battery segment is estimated to surpass over USD 356.5 billion by 2032. The development in the design and production of lithium-ion batteries has led to increased energy density, higher cycle life, and improved efficiency. New developments in thermal management and battery chemistry help increase lifespan and reduce overheating, making lithium-ion batteries more affordable and dependable for large scale grid applications.
 

Grid Scale Stationary Battery Storage Market Revenue Share, By Application, 2023

Based on application, the market is segmented into frequency regulation, black start services, flexible ramping, T&D congestion relief, energy shifting & capacity deferral, capacity firming, reduced reliance on diesel gensets, and reduced RE curtailment. The capacity firming segment is anticipated to grow at a CAGR of more than 29.1% through 2032. The increased deployment of variable renewable energy (VRE) sources, such as wind and solar, is fueling the need for capacity firming. To strengthen these resource intermittency, battery energy storage systems are crucial to ensure consistent and reliable power delivery to the grid.
 

North America Grid Scale Stationary Battery Storage Market Size, 2022-2032 (USD Billion)

The North America grid scale stationary battery storage market is set to reach a value of over USD 124.7 billion by 2032. Ongoing advancements in lithium-ion batteries, such as enhanced energy density, improved lifecycle performance, and thermal management systems, are driving the use of battery storage systems at the grid scale. Newer technologies like solid-state and flow batteries are starting to penetrate the market as well. The deployment of grid-scale battery storage systems in North America is mainly due to the penetration of renewable energy sources, in particular wind and solar.
 

The U.S. Federal Energy Regulatory Commission (FERC) Orders 841 and 2222, which aim to remove barriers for energy storage participation in wholesale markets, are particularly impactful. State-level initiatives, such as California’s Self-Generation Incentive Program (SGIP) and New York’s Energy Storage Roadmap, further encourage deployment.

 

Grid Scale Stationary Battery Storage Market Share

Exide Technologies stands out in the grid scale stationary battery storage market, known for its extensive expertise in designing and manufacturing a wide array of stationary battery storage systems. These systems include lithium-ion battery storage, lead-acid battery storage, and other types. The company has a significant industry presence and has successfully provided numerous customized solutions to meet diverse application requirements.
 

Grid Scale Stationary Battery Storage Market Companies

  • BYD Company Ltd.
  • Contemporary Amperex Technology Co Ltd.
  • Exide Technologies
  • GS Yuasa International Ltd
  • Hitachi Energy Ltd.
  • HOPPECKE Batterien GmbH & Co. KG
  • Johnson Controls
  • LG Energy Solution
  • Panasonic Corporation
  • SAMSUNG SDI CO., LTD.
  • Siemens Energy
  • SK Innovation Co Ltd
  • Tesla
  • Toshiba Corporation
     

Grid Scale Stationary Battery Storage Industry News:

  • In May 2022, BYD was looking to cement its presence in Africa as it plans to purchase 6 lithium-ion mines that will avail a plethora of raw materials for its battery technology. Such technology is utilized in both vehicles and stationary devices. These six mines are estimated to contain over 25 million tons of ore with lithium oxides grade of 2.5%, translating to one million tons of lithium carbonate.
     
  • In January 2021, Toshiba Corporation has introduced the G9400 Series of uninterruptible power systems (UPS) for large data centres worldwide. Equipped with advanced insulated-gate bipolar transistor (IGBT) technology, this product line offers a wide range of models. This launch is expected to help Toshiba expand its customer base significantly.
     

Grid scale stationary battery storage market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume & revenue in MW & USD Million from 2021 to 2032, for the following segments:

Grid Scale Stationary Battery Storage Market, By Battery, 2021 - 2032 (MW & USD Million)

  • Lithium-Ion
    • LFP
    • NMC
    • Others
  • Sodium Sulphur
  • Lead Acid
  • Flow Battery
  • Others

Behind the Meter Stationary Battery Storage Market, By Application, 2021 - 2032 (MW & USD Million)

  • Frequency Regulation
  • Flexible Ramping
  • Black Start Services
  • Energy Shifting & Capacity Deferral
  • T & D Congestion Relief
  • Capacity Firming
  • Reduced RE Curtailment
  • Reduced Reliance on Diesel Gensets

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia
  • Middle East & Africa
    • UAE
    • South Africa
    • Saudi Arabia 
  • Latin America
    • Mexico
    • Brazil
    • Argentina

 

Authors: Ankit Gupta, Vinayak Shukla
Frequently Asked Question(FAQ) :
Who are the major grid scale stationary battery storage industry players?
BYD Company Ltd, Contemporary Amperex Technology Co Ltd., Exide Technologies, GS Yuasa International Ltd, Hitachi Energy Ltd, HOPPECKE Batterien GmbH & Co. KG, Johnson Controls, LG Energy Solution among others.
Why is the grid scale stationary battery storage market growing rapidly in North America?
How much is the grid scale stationary battery storage market worth?
Why is the demand for lithium-ion battery rising?
Grid Scale Stationary Battery Storage Market Scope
  • Grid Scale Stationary Battery Storage Market Size
  • Grid Scale Stationary Battery Storage Market Trends
  • Grid Scale Stationary Battery Storage Market Analysis
  • Grid Scale Stationary Battery Storage Market Share
Related Reports
    Authors: Ankit Gupta, Vinayak Shukla
    Buy Now
    $4,123 $4,850
    15% off
    $4,840 $6,050
    20% off
    $5,845 $8,350
    30% off
        Buy now
    Premium Report Details

    Base Year: 2023

    Companies covered: 14

    Tables & Figures: 20

    Countries covered: 18

    Pages: 80

    Download Free PDF

    Top