Stationary Battery Storage Market Size By Battery (Lithium Ion, Sodium Sulphur, Lead Acid, Flow Battery), By Application (Grid Services {Frequency Regulation, Flexible Ramping, Black Start Services, Energy Shifting and Capacity Deferral, Transmission and Distribution Congestion Relief, Capacity Firming, Reduced RE Curtailment, Reduced Reliance on Diesel Gensets}, Behind The Meter{ Electricity Consumers, System Operation, Mini Grids}, Off-Grid), Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2030

Published Date: May 2020  |  Report ID: GMI1892  |  Authors: Ankit Gupta, Nikhil Paranjape

Report Format: PDF   |   Pages: 575   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Stationary Battery Storage Market size valued at USD 19 billion in 2019 and the cumulative installed capacity is anticipated to surpass 74 GW by 2030. The growing demand for reliable and cost-effective power will significantly impact the market size on a global scale.
 

Global stationary battery storage market has witnessed a significant turnaround in the past decade primarily due to rising demand for power backup along with the security of supply concerns. Developing countries across Asia Pacific and Africa subject to frequent power failures along with a lack of grid infrastructure have funneled significant investments toward the adoption of stationary battery storage systems. In addition, extensive fluctuations in energy consumption pattern owing to extreme peak load demand coupled with increasing rural electrification measures will further propel the market demand.
 

Stationary Battery Storage Market

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Currently, the industry across the globe is witnessing moderate growth on account of ongoing outbreak of the novel coronavirus (COVID – 19). New projects have witnessed limited inclination due to large-scale lockdown of business operation and existing projects have observed a cease on operation due to unavailability of manpower. However, if the growth of the virus declines in the coming months, the stationary storage battery industry will witness accelerated growth due to strong focus toward the adoption of sustainable energy supply solutions.
 

The stationary battery storage market report covers detailed analysis of the industry trends segmented at a regional & country level across types of battery, and application. Moreover, the reported market forecasts & estimates are in line with the data represented by multiple government authorities including Battery Council International (BCI), International Battery and Energy Storage Alliance, World Energy Council, Energy Storage Association, regulatory bodies, and company press releases.
 

Stationary Battery Storage Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 19.0 Billion (USD)
Historical Data for: 2014 to 2019 Forecast Period: 2020 to 2030
Forecast Period 2020 to 2030 CAGR: 17.6% 2030 Value Projection: 74 (GW)
Pages: 575 Tables, Charts & Figures: 1016
Geographies covered (23): U.S., Canada, UK, Germany, France, Spain, Italy, Russia, Ukraine, Azerbaijan, Kazakhstan, Belarus, China, Japan, South Korea, India, Australia, UAE, South Africa, Saudi Arabia, Mexico, Brazil Argentina
Segments covered: Battery, Application
Companies covered (24): Tesla, ACDelco, Durapower, Uniper, Johnson Controls, Inc., Exide Technologies, Buracell, 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, Ampere Energy, HydrRedox Technologies Holdings, NaradaPower Source Co. Ltd, Siemens AG
Growth Drivers:
  • Favorable regulatory framework
  • Growth in renewable energy sector
  • Decline in battery costs
  • Longer shelf life and high energy density
Pitfalls & Challenges:
  • Safety concerns

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Improved life cycle and high energy density to augment the lithium ion stationary battery storage market

Stationary Battery Storage Market

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The lithium-ion battery market is predicted to observe over 20% CAGR between 2020 and 2030. The market trend is focused primarily toward the adoption of battery technology with efficient performance including improved life cycle, and gravimetric densities as compared to other available alternatives including lead-acid batteries. In addition, growing development of large-scale manufacturing facilities along with rapidly declining battery costs will further drive the stationary battery storage market growth.
 

Stationary battery storage technologies including lithium-ion batteries have a substantially higher shelf life compared to the conventional batteries, thereby encouraging their adoption. Most lithium-ion batteries use a cobalt-based cathode and a graphite-based anode due to high energy density achieved by their combination. The average energy density of lithium-ion battery technology is (100-265 Wh/kg or 250/670 Wh/L). However, the overall industry revenue will decline in 2020 due to large-scale lockdown of all business operations implemented by respective governments to curb the spread of COVID – 19.
 

Growing demand for power system resilience will surge the stationary battery storage market across grid services

Stationary Battery Storage Market

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The stationary battery storage market has witnessed significant growth over the past decade. Global efforts to mitigate the anthropogenic causes of global warming has augmented the industry outlook toward renewable energy sources and extended the market size of stationary batteries.
 

Furthermore, there is growing market demand for reliable and efficient integration of clean energy sources. Stationary batteries on account of their ability to efficiently absorb, store and release electric energy are quickly gaining importance in this regard. Some key grid services offered by these systems include frequency regulation, flexible ramping, black start services, energy shifting and capacity deferral amongst others.
 

Frequency regulation involves the 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 market revenue.
 

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 power outages or power system failures has stimulated the demand for effective systems to initiate black start.
 

Increasing investments toward grid infrastructure will drive the Asia Pacific industry size

North America, Europe, and Asia Pacific account for over 85% of the global stationary battery storage market share owing to development & refurbishment of new & existing grid infrastructure to enhance operational efficiencies. The ongoing transition from conventional energy generation technologies toward the adoption of clean energy solutions to enhance sustainability will drive the stationary battery storage systems deployment.
 

Ongoing investments across infrastructure establishments coupled with increasing demand for rural electrification in developing regions will foster the stationary battery industry across Asia Pacific region. Rising economic development owing to rapid commercialization and investments across the residential networks and utility-scale electrification systems has created a favorable business landscape. In addition, positive outlook toward renewable energy technologies coupled with favorable government initiatives will further proliferate the market value.
 

Development of advanced battery energy storage solutions acting as the focal point for market players

The eminent players operating across the stationary battery storage market are currently concentrating on the development of innovation and efficient storage solutions to achieve a competitive edge. The business strategy on directing significant investments toward the manufacturing of technically advanced & digitalized storage systems are devised to significantly transform market trends by enhancing the operating efficiency of the storage solutions and augment the market share. The key industry players include BYD, Toshiba Corporation, LG Chem, Tesla, Inc., and Panasonic Corporation.
 

The market research report on stationary battery storage includes in-depth coverage of the industry with estimates & forecast in terms of “MW”, and “USD” from 2014 to 2030, for the following segments:

Market by Battery

  • Lithium Ion
  • Sodium Sulphur
  • Lead Acid
  • Flow Battery
  • Others

Market by Application

  • Grid Service
    • Frequently Regulation
    • Flexible Ramping
    • Black Start Service
    • Energy shifting & capacity deferral
    • Transmission & Distribution congestion Relief
    • Capacity Firming
    • Reduced RE Curtailment
    • Reduced Reliance on diesel gensets
  • Behind the meter
    • Electricity Consumers
    • System Operations
    • Mini grids
  • Off Grid

The above information has been provided for the following regions:

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

 

Frequently Asked Questions (FAQ) :

The market size of stationary battery storage surpassed USD 19 billion in 2019.
The industry share of stationary battery storage is anticipated to grow at 17.6% CAGR between 2020 to 2030.
Stationary Battery Storage Market size valued at USD 19 billion in 2019 and the cumulative installed capacity is anticipated to surpass 74 GW by 2026.
According to the analysts at GMI, the lithium-ion battery market is predicted to observe over 20% CAGR between 2020 and 2030.
The key market players include BYD, Toshiba Corporation, LG Chem, Tesla, Inc., and Panasonic Corporation.

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Premium Report Details

  • Published Date: May 2020
  • Pages: 575
  • Tables: 977
  • Charts / Figures: 39
  • Companies covered: 24
  • Countries covered: 23

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