Global Stationary Battery Storage Market Slated To Expand At 5.8% CAGR During 2024-2032

As per the analysts at Zion Market Research, the global Stationary Battery Storage Market was valued at USD 620.26 Million in 2023 and is projected to hit USD 1030.26 Million by 2032, with a compound annual growth rate (CAGR) of 5.8% during the forecast period 2024-2032. Few of the key players in the global stationary battery storage market consist of Samsung Koninklijke Philips, Toshiba, GS Yuasa, Panasonic, LG Chem, A123 Systems, BYD, Hitachi, Exide, Duracell, ACDelco, Johnson, Tesla, Durapower, Hoppecke, Uniper, Enersys, Furukawa, and Mutlu.

Rising Need For Energy Efficient Power Network To Boost Growth Of Global Market

Implementation of a strict regulatory structure for the renovation of prevailing electrical infrastructure as a result of the rising need for energy-efficient power networks throughout the budding nations is anticipated to fuel the growth of the global stationary battery storage market during the years to come. Further, current improvements in the direction of durable large-scale storage systems supported by the advances in wireless technologies are anticipated to boost the growth of the market during the forecast period. Moreover, the increasing need for reliable and cost-effective power supply for a number of applications will be a foil for the business landscape. Also, the growth of communication networks together with the continuing improvement of distributed generation technologies has brought up several opportunities for the market players. Moreover, the rising funding from a number of financial institutions comprising ADB and IFC in relation to the development of sustainable energy solutions is also expected to propel the market growth during the forecast period.

Lithium-Ion Battery Segment Expected To Witness Highest Growth In The Market

By battery type, the lithium-ion battery market is anticipated to witness a substantial growth rate during the years to come. Enhanced life cycles, high volumetric, and gravimetric densities are the key factors that will support product demand. A huge count of manufacturing facilities together with the reducing battery prices by the key market players comprising Tesla is expected to drive the market segment growth during the forecast period. To cite, Tesla in 2017 declared the set up of its biggest grid-scale, which is 129 MWh li-ion battery throughout South Australia.

North America, Particularly, The US To Witness Substantial Growth During The Forecast Period

North America, particularly the US, is expected to dominate the global stationary battery storage market. This expansion can be contributed to the rising power demand together with the increasing infrastructure expenditure. Further, a substantial rise in energy usage in addition to the renovation of the prevailing electrical grid network is also anticipated to fuel market growth in this region. To cite, the U.S. government in 2018 declared to spend USD 10 billion to build new power networks.

Browse the full “Global Stationary Battery Storage Market - By Application (Emergency Power, Local Energy Storage, Uninterruptible Power Supplies (UPS), Remote Relay Stations, And Communication Base Stations [Lithium ion, Flow battery, And Lead-acid {Flooded And VRLA}]), By Battery (Sodium Sulphur (NAS), Lithium-Ion, Flow Battery, Lead Acid, And Others), And By Region- Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024-2032.” Report at https://www.zionmarketresearch.com/report/diabetic-foot-ulcer-treatment-market

The global stationary battery storage market is segmented as follows:

By Battery

• Lithium-ion
• Sodium Sulphur (NaS)
• Lead Acid
• Flow Battery

By Application

• Emergency Power
• Communication Base Station
  • Lead-acid

• Flooded
• VRLA
  • Lithium-ion
  • Flow battery

• Local Energy Storage
• Remote Relay Stations
• Uninterrupted Power Supply

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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