Stationary Battery Storage Market size will exceed USD 35 billion by 2030, as reported in the latest study by Global Market Insights, Inc. Favorable regulatory frameworks toward development of sustainable electrical infrastructure subject to integration of effective grid support will drive the stationary battery storage market size. Lack of efficient monitoring systems coupled with frequent outages and failures across developing regions will further fuel the product demand.
China stationary battery storage market is projected to exceed USD 2 billion by 2030. National renewable targets favored by government aided funds toward the expansion of renewable networks will augment the industry outlook. In 2017, the China National Energy Administration has declared a funding worth USD 326.38 billion towards the expansion of renewable electrical networks across the country by 2020.
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Rising investments across sustainable energy through private and public funding programs coupled with ongoing expansion of micro-grid networks will foster the stationary battery storage market size. Growing demand for sustainable energy mix favored by advancing distributed generation technologies will further augment the industry growth. In 2017, International Finance Corporation declared a funding worth USD 103 million subject to incorporation of solar green bonds in India. The agency further affirmed a gross investment of USD 1.2 billion towards deployment of renewable technology in the country.
Flow battery in 2016, accounted for over 4% of global stationary battery storage market. Ongoing technological advancements toward development of cost-effective storage units coupled with high-end investments toward integration of a sustainable grid network will enhance the product demand. Longer life cycle favored by higher system efficiencies when compared to its competitive counterparts will further foster the business outlook.
Improved shelf life coupled with increasing R&D spending towards development of energy efficient systems will augment the stationary battery storage market share. Ongoing reforms pertaining to energy efficiency favored by growing deployment of enhanced storage units with high power densities will positively influence the product demand. Weight, comparative efficiency, discharge rates, cycle life, voltage and costs are few imperative features evaluated to integrate a competitive business scenario. In 2017, MDPI denoted comparative gravimetric energy density for lithium-ion batteries to be in the range of 110–160 Wh/kg in comparison to lead acid, NiCd and NiMH falling in the range of 30–50, 60–120 and 45–80, respectively in Wh/kg.
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Stationary battery storage market will grow on account of increasing demand for refurbishment of aging infrastructure coupled with increasing adoption of advance grid support systems across the U.S. Rising investment towards development of sustainable electrical network along with increasing concern towards energy security will further complement the business scenario. In 2017, China under its sovereign wealth fund proposed an investment worth USD 800 billion across the U.S. infrastructure sector.
Eminent players across the stationary battery storage market include Toshiba, Samsung SDI, Philips, Panasonic, GS Yuasa, A123, Hitachi Chemical, LG Chem, Valence Technology, Hitachi Maxell, BYD Co., Duracell, Exide, Johnson Controls, Roofers Technology, Uniper, Durapower, ACDelco, and Tesla.
Browse key industry insights spread across 195 pages with 195 market data tables & 13 figures & charts from the report, “Stationary Battery Storage Market Size By Battery (Lithium-ion, Sodium Sulphur (NAS), Lead acid, Flow Battery, Others), By Application (Communication Base Stations, Emergency Power, Local Energy Storage, Remote Relay Stations, Uninterruptible Power Supplies (UPS)), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, France, Italy, UK, Spain, Russia, China, Japan, South Korea, India, Australia, Saudi Arabia, UAE, South Africa, Argentina, Brazil, Mexico), Growth Potential, Competitive Market Share & Forecast, 2017 – 2030” in detail along with the table of contents:
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