Stationary Battery Storage Market Size, Share, Demand & Trends by 2033
During the forecast period 2023-2033, the stationary battery storage market is expected to grow at a value of 29% CAGR, according to Future Market Insights. By the year 2033, the global market for stationary battery storage is expected to rise up to a market valuation of US$ 1218.20 Billion.
Due to their simple charging processes and low waste
electrolyte liquid re-energization, battery energy storage systems are expected
to increase and become more widely used. Additionally, it is expected that
rising applications in backup power, portable power, and stationary
applications will enhance market growth.
The market is being driven by constant innovation in
energy storage technology. Industry leaders including the U.S.-based Power
Electronics are developing twin solar-inverter-plus-storage solutions and
growing their selection of solar charging systems. Particularly in
fire-sensitive areas where lithium-ion batteries are still viewed as somewhat
unsafe, there is an increasing demand for lithium-ion technology alternatives
like zinc technology.
Get a Sample Copy of the Report @
https://www.futuremarketinsights.com/reports/sample/rep-gb-15985
Furthermore, policy makers along with key players are
focusing on following and maintaining regulations to offer safe and
standardized stationary battery storage systems. North America and Asia Pacific
are major regions contributing to the stationary battery storage systems owing
to the development of data centers and rural areas respectively.
Key Takeaways from the Market Study
- By
battery, flow battery segment is poised to register over 30% growth rate
through 2033
- By
application, the behind-the-meter application is predicted to observe
nearly 25% gains till 2033.
- North
America is expected to possess 40% market share for stationary battery
storage market in North America.
- Asia
Pacific stationary battery storage market size is anticipated to reach USD
445 billion by 2033
“Rapid deployment of energy resources
along with favorable initiatives by government authorities across the globe are
creating lucrative opportunities for stationary battery storage market.” comments
a Future Market Insights analyst.
Competitive Landscape
Key players in the stationary battery storage market
are Tesla, Durapower Group, Johnson Controls, Exide Technologies,
Duracell, Inc, BYD Company Ltd, Toshiba Corporation, Samsung SDI Co., Ltd,
Panasonic Corporation, GS Yuasa International Ltd, A123 Systems, LLC, LG Chem
Ltd, Furukawa Battery Co., Ltd., HydraRedox, Narada Power Source Co. Ltd,
Siemens, Lockheed Martin Corporation, CMBlu Energy AG, JenaBatteries GmbH and
SCHMID Group
- In
July 2022, Durapower Group, introduced universal DP Omni battery pack for
electric buses and retrofits. The battery is designed to get charged in
less than hour. In addition, the battery can be customized according to
client need.
- In
March 2021, Toshiba Corporation launched lithium-ion batteries that focus
on providing energy to different end user industries. Through this, the
company is forcing on developing decarbonized industries.
Browse Full Report: https://www.futuremarketinsights.com/reports/stationary-battery-storage-market
More Valuable Insights
Future Market Insights, in its new offering, presents
an unbiased analysis of the global stationary battery storage market,
presenting historical analysis from 2018 to 2022 and forecast statistics for
the period of 2023-2033.
The study reveals essential insights on the basis of
battery (lithium-ion, Sodium Sulphur, Lead Acid, Flow Battery, Other Batteries),
by application (Grid services, behind-the-meter, off grid) and regions (North
America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
Key Segments Profiled in the Stationary
Battery Storage Industry Survey
Battery:
- Lithium-Ion
- Lithium
Iron Phosphate
- Nickel
Manganese Cobalt
- Sodium
Sulphur
- Lead
Acid
- Flow
Battery
- Other
Batteries
Application:
- Grid
Services
- 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
- Behind
the Meter
- Electricity
Consumers
- System
Operation
- Mini
Grids
- Off
Grid
About the Chemical & materials at
Future Market Insights
The chemical & materials domain team at Future
Market Insights offers expert analysis, time-efficient research, and strategic
recommendations with an objective to provide authentic insights and accurate
results to help clients worldwide.
With a repertoire of over 100+ reports and 1 million+
data points, the team has been analyzing the industry lucidly in 50+ countries
for over a decade. The team provides a brief analysis of key trends including
competitive landscape, profit margin, and research development efforts.
Comments
Post a Comment