Stationary Energy Storage Battery Market Size, Share, and Analysis, By Battery (Lithium Ion, Sodium Sulphur, Lead Acid, and Flow Battery), By Energy Storage Type (Hydrogen & Ammonia Storage, Gravitational Energy Storage, Compressed Air Energy Storage, Liquid Air Storage, and Thermal Energy Storage), By Application (Grid Application and Behind the Meter), By Region (North America, Europe, Asia-Pacific, and Rest of the World), And Regional Forecast 2024-2034
PRODUCT OVERVIEW
Stationary Energy Storage Battery Market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 25.4% during the forecast span from 2024 to 2034. In 2023, the market size was assessed at USD 57.6 billion and is projected to reach USD 696.3 billion by the completion of 2034.
Stationary energy storage batteries are large-scale systems that store electricity for future use, as opposed to portable batteries. These stationary installations are connected to power grids or renewable energy sources and fulfill various roles such as storing extra energy in off-peak times, supplying electricity on demand, and simplifying the integration of renewable energy. Additionally, stationary energy storage battery systems play an important role in upgrading energy infrastructure, along with improving the utilization of resources and assisting in shifting to renewable energy. Therefore, with the advancement of technology, stationary batteries are becoming crucial in the environment of evolving energy and serve as a major factor in creating a sustainable and strong energy system.
MARKET HIGHLIGHTS
Stationary Energy Storage Battery Market is projected to reach USD 696.3 billion over the forecast period, due to a rise in the demand for grid stability and the incorporation of renewable energy sources. The growth of the market is attributed to several factors such as government incentives for the use of clean energy and falling prices of batteries. In addition, the market is shifting towards lithium-ion batteries due to their performance and lower costs. However, flow batteries and sodium-sulfur batteries are also becoming highly popular for certain uses. Furthermore, major industry stakeholders are making large investments in research and development to improve the efficiency and safety of stationary energy storage batteries. Consequently, the stationary energy storage market is anticipated to grow steadily due to global grid modernization programs, thereby playing a significant role in the global transition to renewable energy.
Stationary Energy Storage Battery Market Segments:
- By Battery
- Lithium Ion
- Sodium Sulphur
- Lead Acid
- Flow Battery
- By Type
- Hydrogen & Ammonia Storage
- Gravitational Energy Storage
- Compressed Air Energy Storage
- Liquid Air Storage
- Thermal Energy Storage
- By Application
- Grid Application
- Behind the Meter
Growth Drivers
Increasing Renewable Energy Integration to Drive Growth in the Stationary Energy Storage Battery Market
Grid Modernization Initiatives Act as a Catalyst for Market Growth
Restraint
High Initial Cost in the Stationary Energy Storage Battery Market Will Impact the Growth
Key Players
- Tesla, Inc.
- Panasonic Corporation
- LG Energy Solution
- Samsung SDI
- BYD Company Limited
- ABB Ltd.
- Siemens AG
- General Electric Company
- Fluence Energy, Inc.
- Saft Groupe (Total SE)
- Toshiba Corporation
- Honeywell International Inc.
- NEC Corporation
- Mitsubishi Electric Corporation
- Lockheed Martin Corporation
- Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
- Provision of market value (USD Billion) data for each segment and sub-segment
- Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
- Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
- Provides insight into the market through Value Chain
- Market dynamics scenario, along with growth opportunities of the market in the years to come
- 3-month post-sales analyst support.
- 1. Executive Summary
- 1.1 Regional Market Share
- 1.2. Business Trends
- 1.3 Stationary Energy Storage Battery Market: COVID-19 Outbreak
- 1.4 Regional Trends
- 1.5. Segmentation Snapshot
- 2. Research Methodology
- 2.1. Research Objective
- 2.2 Research Approach
- 2.3 Data Sourcing and Methodology
- 2.4. Primary Research
- 2.5. Secondary Research
- 2.5.1. Paid Sources
- 2.5.2 Public Sources
- 2.6 Market Size Estimation and Data Triangulation
- 3. Market Characteristics
- 3.1. Market Definition
- 3.2 Stationary Energy Storage Battery Market: COVID-19 Impact
- 3.3 Key Segmentations
- 3.4. Key Developments
- 3.5. Allied Industry Data
- 4. Stationary Energy Storage Battery Market – Industry Insights
- 4.1 Industry Segmentation
- 4.2. COVID-19 overview of world economy
- 4.3. Industry Ecosystem Channel Analysis
- 4.4. Innovation & Sustainability
- 5. Macroeconomic Indicators
- 6. Recent Developments
- 7 Market Dynamics
- 7.1. Introduction
- 7.2 Growth Drivers
- 7.3 Market Opportunities
- 7.4. Market Restraints
- 7.5 Market Trends
- 8. Risk Analysis
- 9. Market Analysis
- 9.1. Porter's Five Forces
- 9.2 PEST Analysis
- 9.2.1. Political
- 9.2.2 Economic
- 9.2.3 Social
- 9.2.4 Technological
- 10. Stationary Energy Storage Battery Market
- 10.1 Overview
- 10.2. Historical Analysis (2019-2022)
- 10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
- 11 Stationary Energy Storage Battery Market Size & Forecast 202 A-203 F
- 11.1 Overview
- 11.2. Key Findings
- 11.3. Market Segmentation
- 11.3.1. By Battery
- 11.3.1.1. Lithium-Ion
- 11.3.1.1.1. By Value (USD Million) 2024-203 F
- 11.3.1.1.2 Market Share (%) 2024-203 F
- 11.3.1.1.3 Y-o-Y Growth (%) 2024-203 F
- 11.3.1.2 Sodium Sulphur
- 11.3.1.2.1 By Value (USD Million) 2024-203 F
- 11.3.1.2.2. Market Share (%) 2024-203 F
- 11.3.1.2.3. Y-o-Y Growth (%) 2024-203 F
- 11.3.1.3 Lead Acid
- 11.3.1.3.1 By Value (USD Million) 2024-203 F
- 11.3.1.3.2. Market Share (%) 2024-203 F
- 11.3.1.3.3. Y-o-Y Growth (%) 2024-203 F
- 11.3.1.4 Flow Battery
- 11.3.1.4.1 By Value (USD Million) 2024-203 F
- 11.3.1.4.2. Market Share (%) 2024-203 F
- 11.3.1.4.3. Y-o-Y Growth (%) 2024-203 F
- 11.3.2. By Type
- 11.3.2.1 Hydrogen & Ammonia Storage
- 11.3.2.1.1 By Value (USD Million) 2024-203 F
- 11.3.2.1.2. Market Share (%) 2024-203 F
- 11.3.2.1.3. Y-o-Y Growth (%) 2024-203 F
- 11.3.2.2. Gravitational Energy Storage
- 11.3.2.2.1. By Value (USD Million) 2024-203 F
- 11.3.2.2.2 Market Share (%) 2024-203 F
- 11.3.2.2.3 Y-o-Y Growth (%) 2024-203 F
- 11.3.2.3. Compressed Air Energy Storage
- 11.3.2.3.1. By Value (USD Million) 2024-203 F
- 11.3.2.3.2 Market Share (%) 2024-203 F
- 11.3.2.3.3 Y-o-Y Growth (%) 2024-203 F
- 11.3.2.4. Liquid Air Storage
- 11.3.2.4.1. By Value (USD Million) 2024-203 F
- 11.3.2.4.2 Market Share (%) 2024-203 F
- 11.3.2.4.3. Y-o-Y Growth (%) 2024-203 F
- 11.3.2.5. Thermal Energy Storage
- 11.3.2.5.1. By Value (USD Million) 2024-203 F
- 11.3.2.5.2 Market Share (%) 2024-203 F
- 11.3.2.5.3 Y-o-Y Growth (%) 2024-203 F
- 11.3.3. By Application
- 11.3.3.1 Grid Application
- 11.3.3.1.1 By Value (USD Million) 2024-203 F
- 11.3.3.1.2. Market Share (%) 2024-203 F
- 11.3.3.1.3. Y-o-Y Growth (%) 2024-203 F
- 11.3.3.2. Behind the Meter
- 11.3.3.2.1. By Value (USD Million) 2024-203 F
- 11.3.3.2.2 Market Share (%) 2024-203 F
- 11.3.3.2.3 Y-o-Y Growth (%) 2024-203 F
- 12. North America Stationary Energy Storage Battery Market Size & Forecast 202 A-203 F
- 12.1. Overview
- 12.2. Key Findings
- 12.3. Market Segmentation
- 12.3.1. By Battery
- 12.3.2 By Type
- 12.3.3 By Application
- 12.4. Country
- 12.4.1 United States
- 12.4.2. Canada
- 13. Europe Stationary Energy Storage Battery Market Size & Forecast 202 A-203 F
- 13.1. Overview
- 13.2. Key Findings
- 13.3. Market Segmentation
- 13.3.1. By Battery
- 13.3.2 By Type
- 13.3.3 By Application
- 13.4. Country
- 13.4.1 Germany
- 13.4.2 United Kingdom
- 13.4.3 France
- 13.4.4. Italy
- 13.4.5 Spain
- 13.4.6 Russia
- 13.4.7 Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
- 14. Asia-Pacific Stationary Energy Storage Battery Market Size & Forecast 202 A-203 F
- 14.1 Overview
- 14.2. Key Findings
- 14.3. Market Segmentation
- 14.3.1. By Battery
- 14.3.2 By Type
- 14.3.3 By Application
- 14.4. Country
- 14.4.1. India
- 14.4.2 China
- 14.4.3. South Korea
- 14.4.4. Japan
- 14.4.5. Rest of APAC
- 15. Middle East and Africa Stationary Energy Storage Battery Market Size & Forecast 202 A-203 F
- 15.1 Overview
- 15.2. Key Findings
- 15.3. Market Segmentation
- 15.3.1. By Battery
- 15.3.2 By Type
- 15.3.3 By Application
- 15.4. Country
- 15.4.1 Israel
- 15.4.2. GCC
- 15.4.3. North Africa
- 15.4.4 South Africa
- 15.4.5. Rest of Middle East and Africa
- 16. Latin America Stationary Energy Storage Battery Market Size & Forecast 202 A-203 F
- 16.1. Overview
- 16.2. Key Findings
- 16.3. Market Segmentation
- 16.3.1. By Battery
- 16.3.2 By Type
- 16.3.3 By Application
- 16.4. Country
- 16.4.1. Mexico
- 16.4.2. Brazil
- 16.4.3. Rest of Latin America
- 17. Competitive Landscape
- 17.1. Company market share, 2023
- 17.2 Key player overview
- 17.3. Key stakeholders
- 18. Company Profiles
- 18.1 Tesla, Inc.
- 18.1.1 Company Overview
- 18.1.2 Financial Overview
- 18.1.3 Key Product; Analysis
- 18.1.4 Company Assessment
- 18.1.4.1 Product Portfolio
- 18.1.4.2. Key Clients
- 18.1.4.3. Market Share
- 18.1.4.4. Recent News & Development (Last 3 Yrs.)
- 18.1.4.5. Executive Team
- 18.2 Panasonic Corporation
- 18.3 LG Energy Solution
- 18.4 Samsung SDI
- 18.5 BYD Company Limited
- 18.6 ABB Ltd.
- 18.7 Siemens AG
- 18.8 General Electric Company
- 18.9 Fluence Energy, Inc.
- 18.10 Saft Groupe (Total SE)
- 18.11. Toshiba Corporation
- 18.12 Honeywell International Inc.
- 18.13 NEC Corporation
- 18.14 Mitsubishi Electric Corporation
- 18.15 Lockheed Martin Corporation
- 18.16 Other Prominent Players
- 19. Appendix
- 20 Consultant Recommendation
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