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Lead Acid Stationary Battery Storage Market - By Application (Grid Services, Behind the Meter, Off Grid), Regional Insights, Growth Drivers & Global Forecast, 2023 – 2032

  • Report ID: GMI5852
  • Published Date: May 2023
  • Report Format: PDF

Lead Acid Stationary Battery Storage Market Size

Lead Acid Stationary Battery Storage Market size valued at USD 4.2 billion in 2022 and is projected to register at a 24.6% CAGR between 2023 and 2032. On account of rising concerns toward security of supply along with soaring demand for power backup. Developing countries across Africa and Asia Pacific are subjected to recurrent power failures owing to the lack of grid infrastructure, which in turn will fuel the demand for a reliable and efficient source of energy. Fluctuations in energy consumption pattern owing to extreme peak load demand coupled with increasing rural electrification measures will further embellish the business landscape. The global market for stationary battery storage is likely to cross USD 870 billion by 2032.

Lead Acid Stationary Battery Storage Market

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Increasing demand for grid stability and electricity coupled with favorable government measures to provide uninterrupted power supply is anticipated to bolster the deployment of lead acid stationary battery storage systems. In addition, renewable energy integration measures implemented by various governments across the globe along with the increasing demand for off grid electricity will further stimulate the demand for lead acid stationary battery storage systems.

Lead-acid batteries have an excess of lead and sulfuric acid that cause safety concerns. The acid is highly corrosive and is a carrier for soluble lead & lead particulates. Several countries consider lead acid as hazardous material as it can be a health hazard if not properly handled. Exposure to excessive lead can cause damage to the kidney and brain, hearing impairment, and numerous other associated problems. A single incorrectly disposed lead-acid battery could contaminate 25 tons of municipal solid waste. These harmful environmental are likely to restrict the demand for lead acid stationary battery storage. However, accelerating adoption of renewable energy technologies including solar, wind, among others will significantly provide a business opportunity to the battery manufacturers.

COVID-19 Impact

The COVID-19 pandemic has had a notable effect on the lead-acid stationary battery storage market. Supply chain and manufacturing disruptions have resulted in project deployment delays. The scarcity of battery manufacturing components, many of which come from overseas, has caused material shortages and setbacks. As a result, it has been challenging for manufacturers to produce and deliver batteries on schedule, hampering market expansion. Despite these challenges, the demand for backup power has risen due to remote work and indoor lifestyles, which could drive market growth in the future.

Lead Acid Stationary Battery Storage Market Trends

Stationary Lead Acid Stationary Battery Storage Market Size, By Region, 2021 – 2032, (USD Million)

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nable technology will propel the industry size worldwide. The increasing federal, state, and local initiatives pertaining to battery storage systems coupled with the integration of fuel-efficient technologies will augment the business growth. The government of Germany has announced various subsidies and incentives to boost the development of renewable energy schemes in line with the EEG. The EEG incentivize electric storage facilities and provide exemptions to levies and grid tariffs only if the electricity is supplied back to the main grid.

Furthermore, the update in EEG norms has allowed more customers to levy exemptions and benefits for self-supply of stored electricity and for loss of energy. The decreasing costs of renewable energy sources like solar and wind power are expected to lead to increased investment and a greater proportion of renewable energy in the global energy mix.

Lead Acid Stationary Battery Storage Market Analysis

Lead Acid Stationary Battery Storage Market Revenue Share, By Application

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Based on application, the market is segmented as grid services, behind the meter, and off grid. The grid services segment accounted for more than USD 2 billion in 2022. Some key grid services offered by the battery energy storage systems include frequency regulation, flexible ramping, black start services, energy shifting & capacity deferral, among others. Frequency regulation involves synchronization of generation assets for effective grid operation.

Ongoing integration of clean energy systems has created a need for cost effective technologies for network synchronization which is set to drive the demand for BES systems. Black start is the restoration of power function to an electric grid or network and generator without the utilization of external transmission lines. Growing demand for power system resilience on account of increased electricity outages or power failures has stimulated the demand for effective systems to initiate black start.

Asia Pacific Lead Acid Stationary Battery Storage Market Size

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The Asia Pacific lead acid stationary battery storage market is set to grow at 29% CAGR through 2032. Paradigm shift towards clean energy sources and rural electrification has led to positive growth in the industry across the region. Governments in countries like China, India, Japan, and South Korea are actively working to reduce CO2 emissions and achieve their energy transition objectives. Moreover, the declining cost of batteries will further encourage the deployment of lead acid battery storage systems.

Lead Acid Stationary Battery Storage Market Share

Some of the major market players operating across the lead acid stationary battery storage industry are

  • Johnson Controls
  • Exide Industries Ltd.
  • Duracell, Inc.
  • Panasonic Corporation
  • GS Yuasa International Ltd.
  • Ritar International Group
  • The Furukawa Battery Co., Ltd.
  • Narada
  • Siemens
  • Lockheed Martin Corporation
  • C&D Technologies, Inc.

These players focus on new product launch & commercialization and strategic partnerships for market expansion. Furthermore, these players are increasingly investing in research & development activities, which enable them to introduce innovative products and garner maximum revenue in the market.

Lead Acid Stationary Battery Storage Industry News:

  • In October 2021, Fimer Group launched its new high-capacity energy storage platform with high-power inverters, offering a long durability & scalable solution for all installation types. The new platform consists of PowerX, PowerTRIO, and PowerUNO along with easy installation design, thereby helping installers cater to the increasing demand for residential power storage around the world.
  • In February 2020, GS Yuasa Corporation started the sale of SNS-TN series of control valve type stationary lead acid batteries. They can be operated for a longer duration, are durable and can be utilized in applications with high discharge frequency. With the product launch, the company aims to improve the overall performance of storage batteries by providing advanced technological advancements, thereby providing an efficient & safe product lineup along with a comprehensive support system.

This lead acid stationary battery storage market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in MW & USD Million from 2019 to 2032, for the following segments:

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Market Outlook, By Application

  • Grid Services
  • Frequency Regulation
  • Flexible Ramping
  • Black Start Services
  • Energy Shifting & Capacity Deferral
  • T & D Congestion Relief
  • Capacity Ferming
  • Reduced RE Curtailment
  • Reduced Reliance on Diesel Gensets
  • Behind the Meter
  • Electricity Consumers
  • System Operations
  • Mini Grids
  • Off Grid

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

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Russia
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia
  • Middle East & Africa
    • UAE
    • South Africa
    • Saudi Arabia 
  • Latin America
    • Mexico
    • Brazil
Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of lead acid stationary battery storage exceeded USD 4.2 billion in 2022 and is anticipated to record more than 24.6% CAGR from 2023 to 2032, says this GMI report.

Lead acid stationary battery storage market size from the grid services segment valued at more than USD 2 billion in 2022 due to the ongoing integration of clean energy systems which has created a need for cost-effective technologies for network synchronization.

Asia Pacific lead acid stationary battery storage market will showcase 29% CAGR from 2023 to 2032 owing to the paradigm shift towards clean energy sources and rural electrification.

Johnson Controls, Exide Industries Ltd., Duracell, Inc., Panasonic Corporation, GS Yuasa International Ltd., Ritar International Group, The Furukawa Battery Co., Ltd., Narada, Siemens, Lockheed Martin Corporation, C&D Technologies, Inc., and ENERSYS.

Stationary Lead Acid Battery Storage Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 12
  • Tables & Figures: 647
  • Countries covered: 18
  • Pages: 300
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