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Stationary Battery Market Size, Share & Growth Report | 2031
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Stationary Battery Market Size, Share & Growth Report | 2031

Segments - Global Stationary Battery Market by Types (Sodium Sulphur, Lithium-Ion, Flow Battery, Lead Acid, and Others), Applications (Grid Services, Behind the Meter, and Off Grid), and Regions (Asia Pacific, North America, Latin America, Europe and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Author : Raksha Sharma
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Editor : Swapnil Hedau

Upcoming | Report ID :EP-4280 | 4.5 Rating | 81 Reviews | 217 Pages | Format : PDF Excel PPT

Report Description


Stationary Battery Market Outlook 2031

The global stationary battery market size was valued at around USD 33.12 billion in 2022, and it is anticipated to reach USD 170.89 Billion by 2031 expand at a CAGR of about 20% during the forecast period, 2023 – 2031. The growth of the market is attributed to the increasing investments in sustainable energy sources.

A battery can be defined as any class of devices that converts chemical energy into electrical energy. Batteries are used from starting car engines to acting as a backup source for public transportations, telecommunications, medical procedures, and others. A stationary battery refers to an energy storage system that can store energy and release it in a form of electricity when needed.

Stationary Battery Market Outlook

Stationary batteries on account of their efficiency to absorb, store, and release energy are driving the market. Government financial incentives and returns are expanding investments in renewable energy, which strengthens the global stationary battery market.

  • Global movement towards renewable energy and carbon emission reduction is expected to drive the market.
  • Rising demand for power backup solutions with security of power supply drives the market during the forecast period.
  • Growing demand for longer shelf life and high energy density in batteries is expected to boost the market.
  • Frequent power outages and lack of proper power grid infrastructure in developing regions such as Africa and Asia Pacific are projected to drive the market during the forecast period.
  • Electrification of various sectors such as transportation, commercial and residential, agricultural, and others is anticipated to fuel the market.
  • Declining battery costs is a driving factor of the stationary battery market.
  • Several countries are adopting usage of global stationary battery to reduce dependency on energy imports, which is expected to reflect positively in the growth of the market.
  • The market has negatively affected by an imposed and stringent lockdown during COVID-19, due to labor shortage, disruption in supply chain, and shutdown of various manufacturing facilities.
  • Two elements, renewable energy penetration and power grid flexibility are expected to create significant opportunities for the growth of the market during the forecast period.

Scope of The Stationary Battery Market Report

The report on the global stationary battery market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Stationary Battery Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Types (Sodium Sulphur, Lithium-Ion, Flow Battery, Lead Acid, and Others), Applications (Grid Services, Behind the Meter, and Off Grid)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Tesla, Inc.; Durapower Group; Toshiba Corporation; Duracell, Inc.; Koninklijke Philips NV; Samsung SDI; Excide Technologies; GS Yuasa Corporation; LG Chem Ltd.; Johnson Controls International; Uniper SE; A123 Systems, LLC; and Others

Stationary Battery Market Segment Insights

Lithium-Ion segment is expected to remain dominant

On the basis of types, the market is divided into sodium sulphur, lithium-ion, flow battery, lead acid, and others. The lithium-ion segment is expected to hold a large share of the market during the forecast period.

Demand for lithium-ion batteries is increasing continuously owning to their higher self-life compared to the conventional batteries. Sodium sulphur segment is expected to expand during the forecast period as well due to its high operational safety and enhanced temperature stability.

Stationary Battery Market Type

Behind-the-meter segment is projected to expand at a significant rate

In terms of applications, the market is segmented into grid services, behind-the-meter, and off grid. The behind-the-meter segment is expected to show growth during the forecast period due to frequent power outages, rising demand for emergency power backup solutions, and increasing awareness regarding power supply enhancement among consumers. Constant development of mini-grids and decline in battery prices are expected to expand the segment and boosting the market.

Stationary Battery Market Applications

Asia Pacific is estimated as a rapidly growing market

Based on regions, the market is segregated into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to dominate the market as India, China, Japan, and Australia showing lucrative growth opportunities by shifting from the conventional power generation to clean source of energy. The market of Asia Pacific is expected to grow with rising rural electrification in developing countries of the region.

Stationary Battery Market Regions

Segments

The global stationary battery market has been segmented on the basis of

Types

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

Applications

  • Grid Services
  • Behind the Meter
  • Off Grid

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Tesla, Inc.
  • Durapower Group
  • Toshiba Corporation
  • Duracell, Inc.
  • Koninklijke Philips NV
  • Samsung SDI
  • Excide Technologies
  • GS Yuasa Corporation
  • LG Chem Ltd.
  • Johnson Controls International
  • Uniper SE
  • A123 Systems, LLC
  • Others

Competitive Landscape

The key players such as Tesla, Inc.; Durapower Group; Toshiba Corporation; Duracell, Inc.; Koninklijke Philips NV; Samsung SDI; Excide Technologies; GS Yuasa Corporation; LG Chem Ltd.; Johnson Controls International; Uniper SE; A123 Systems, LLC; and others constantly aim towards offering efficient stationary battery solutions to consumers by launching innovative products. They use strategies such as mergers, acquisitions, collaborations, and partnerships to expand their market share.

In 2022, the state government of Queensland, Australia announced building 100MW Battery Energy Storage System (BESS) using Megapack batteries by Tesla, Inc. to support renewable power.

Stationary Battery Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Stationary Battery Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Stationary Battery Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Stationary Battery Market - Supply Chain
  4.5. Global Stationary Battery Market Forecast
     4.5.1. Stationary Battery Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Stationary Battery Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Stationary Battery Market Absolute $ Opportunity
5. Global Stationary Battery Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Stationary Battery Market Size and Volume Forecast by Types
     5.3.1. Sodium Sulphur
     5.3.2. Lithium-Ion
     5.3.3. Flow Battery
     5.3.4. Lead Acid
     5.3.5. Others
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Stationary Battery Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. Stationary Battery Market Size and Volume Forecast by Applications
     6.3.1. Grid Services
     6.3.2. Behind the Meter
     6.3.3. Off Grid
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Stationary Battery Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Stationary Battery Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Stationary Battery Demand Share Forecast, 2019-2026
8. North America Stationary Battery Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Stationary Battery Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Stationary Battery Market Size and Volume Forecast by Types
     8.4.1. Sodium Sulphur
     8.4.2. Lithium-Ion
     8.4.3. Flow Battery
     8.4.4. Lead Acid
     8.4.5. Others
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Stationary Battery Market Size and Volume Forecast by Applications
     8.7.1. Grid Services
     8.7.2. Behind the Meter
     8.7.3. Off Grid
  8.8. Basis Point Share (BPS) Analysis by Applications
  8.9. Y-o-Y Growth Projections by Applications
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Stationary Battery Demand Share Forecast, 2019-2026
9. Latin America Stationary Battery Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Stationary Battery Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Stationary Battery Market Size and Volume Forecast by Types
     9.4.1. Sodium Sulphur
     9.4.2. Lithium-Ion
     9.4.3. Flow Battery
     9.4.4. Lead Acid
     9.4.5. Others
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Stationary Battery Market Size and Volume Forecast by Applications
     9.7.1. Grid Services
     9.7.2. Behind the Meter
     9.7.3. Off Grid
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Stationary Battery Demand Share Forecast, 2019-2026
10. Europe Stationary Battery Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Stationary Battery Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Stationary Battery Market Size and Volume Forecast by Types
     10.4.1. Sodium Sulphur
     10.4.2. Lithium-Ion
     10.4.3. Flow Battery
     10.4.4. Lead Acid
     10.4.5. Others
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Stationary Battery Market Size and Volume Forecast by Applications
     10.7.1. Grid Services
     10.7.2. Behind the Meter
     10.7.3. Off Grid
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Stationary Battery Demand Share Forecast, 2019-2026
11. Asia Pacific Stationary Battery Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Stationary Battery Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Stationary Battery Market Size and Volume Forecast by Types
     11.4.1. Sodium Sulphur
     11.4.2. Lithium-Ion
     11.4.3. Flow Battery
     11.4.4. Lead Acid
     11.4.5. Others
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Stationary Battery Market Size and Volume Forecast by Applications
     11.7.1. Grid Services
     11.7.2. Behind the Meter
     11.7.3. Off Grid
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Stationary Battery Demand Share Forecast, 2019-2026
12. Middle East & Africa Stationary Battery Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Stationary Battery Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Stationary Battery Market Size and Volume Forecast by Types
     12.4.1. Sodium Sulphur
     12.4.2. Lithium-Ion
     12.4.3. Flow Battery
     12.4.4. Lead Acid
     12.4.5. Others
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Stationary Battery Market Size and Volume Forecast by Applications
     12.7.1. Grid Services
     12.7.2. Behind the Meter
     12.7.3. Off Grid
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Stationary Battery Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Stationary Battery Market: Market Share Analysis
  13.2. Stationary Battery Distributors and Customers
  13.3. Stationary Battery Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Tesla, Inc.
     13.4.2. Durapower Group
     13.4.3. Toshiba Corporation
     13.4.4. Duracell, Inc.
     13.4.5. Koninklijke Philips NV
     13.4.6. Samsung SDI
     13.4.7. Excide Technologies
     13.4.8. GS Yuasa Corporation
     13.4.9. LG Chem Ltd.
     13.4.10. Johnson Controls International
     13.4.11. Uniper SE
     13.4.12. A123 Systems, LLC
     13.4.13. Others

Methodology

Our Clients

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