Stationary Battery Storage Market Growth Predicted at Over 17.6% Till 2030: Global Market Insights, Inc.
SELBYVILLE, Del., May 21, 2020 (Newswire.com) - According to the latest report “Stationary Battery Storage Market by Battery (Lithium Ion, Sodium Sulphur, Lead Acid, Flow Battery), Application (Grid Services {Frequency Regulation, Flexible Ramping, Black Start Services, Energy Shifting and Capacity Deferral, Transmission and Distribution Congestion Relief, Capacity Firming, Reduced RE Curtailment, Reduced Reliance on Diesel Gensets}, Behind The Meter {Electricity Consumers, System Operation, Mini Grids}, Off-Grid), Regional Outlook, Price Trend, Competitive Market Share & Forecast 2030”, by Global Market Insights, Inc., the market valuation of stationary battery storage will cross $120 billion by 2030.
The stationary battery storage market growth is impelled by the introduction of a stringent regulatory framework pertaining to the refurbishment of traditional electrical infrastructure. In addition, integration of digital monitoring solutions, along with growing demand for large scale sustainable energy storage systems, will further escalate the industry's growth.
Moreover, increasing efforts toward the expansion of distributed energy generation sources are expected to boost market revenue. Increasing demand for a continuous power supply along with rising consumer awareness toward surging electricity prices will boost technology adoption on a global scale. In addition, a steady decline in battery prices due to economies of scale and manufacturing efficiencies will further propel business growth.
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The stationary battery storage market from flow batteries will register substantial gains until 2030 on account of its flexible layout and long cycle life. Moreover, quick response times, minimal emissions and the absence of flammable electrolytes are some of the major factors driving the product adoption of flow batteries over other available market alternatives. In addition, the adoption of regulatory frameworks promoting the adoption of clean energy sources will further augment industry growth.
Growing penetration of renewable energy sources, including solar and wind technology coupled with rising investments toward rural electrification, will boost industry growth from off-grid services. Rising concerns toward rural isolation, along with increasing government initiatives toward enhancing the standard of living for populations residing in remote areas, will drive technology adoption. In addition, the availability of limited electrical infrastructure will further proliferate the business landscape.
The North America stationary battery storage market is poised to witness significant growth during the forecast period, owing to increasing demand for a reliable grid support mechanism, coupled with developing energy storage technologies. In addition, ongoing infrastructure investments along with exponential growth in demand for electricity will further embellish the business scenario.
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Some major findings of the stationary battery storage market report include:
- Introduction of favorable regulatory framework toward the integration of clean energy sources to drive the adoption of these systems.
- Rising frequency of power outages, along with increasing consumer awareness toward energy security to escalate the technology demand.
- Major players operating across the stationary battery storage market include Panasonic Corporation, BYD, Toshiba Corporation and Tesla, among others.
- High energy efficiency, declining technology costs and a long-life cycle are a few of the key factors favoring the growth of the storage battery market.
Table of Contents (ToC) of the report:
Chapter 3 Stationary Battery Storage Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2014 - 2030
3.3 Industry ecosystem analysis
3.4 Innovation & Sustainability
3.4.1 BYD
3.4.2 Mutlu Battery
3.4.3 LG Chem
3.4.4 Duracell
3.4.5 Toshiba
3.4.6 Primus
3.4.7 Exide Technologies
3.4.8 FDK Corporation
3.4.9 Picodeon
3.4.10 ProLogium Technology
3.4.11 Panasonic Corporation
3.5 Regulatory Landscape
3.5.1 Europe
3.5.1.1 EU Battery Directive
3.5.1.2 Secondary European Legislation on Batteries:
3.5.2 UK
3.5.2.1 The Batteries and Accumulators Regulations 2008
3.5.2.2 The Waste Batteries and Accumulators Regulations 2009
3.5.2.3 Northern Ireland
3.5.3 Scotland
3.5.4 U.S.
3.5.4.1 Electronic Code of Federal Regulations
3.5.4.2 DOE VTO Advanced Battery R&D Program
3.5.4.3 Mercury-Containing and Rechargeable Battery Management Act of 1996
3.5.5 China
3.5.5.1 China RoHS Directive
3.5.5.2 Guiding Opinions on Promoting Energy Storage Technology and Industry Development (Guiding Opinions)
3.5.5.3 Announcement on Promoting Electrical Storage Participation in Ancillary Service in the ‘Three Norths’ Region
3.5.5.4 China battery GB standards
3.5.6 Japan
3.5.6.1 JISC Standards
3.5.6.2 DENAN Law
3.5.7 International Battery Standards and Testing
3.5.7.1 General Battery Standards
3.5.7.2 Safety Standards
3.5.7.3 Quality Standards
3.6 Customer requirement
3.7 Customer group requirement
3.8 Entry barriers
3.9 COVID – 19 impact on the overall industry outlook, 2020 - 2030
3.9.1 Optimistic view
3.9.2 Realistic view
3.9.3 Pessimistic view
3.10 Industry impact forces
3.10.1 Growth drivers
3.10.2 Industry pitfalls and challenges
3.11 Porter’s analysis
3.12 TCO analysis between VRLA and Lithium ion batteries
3.12.1 Battery Attributes
3.12.2 Assumptions
3.12.3 Capital Expense
3.12.4 Operational Expense
3.12.5 TCO Calculation
3.13 Average Project size
3.14 Installed Cumulative Renewable Capacity (MW)
3.15 Growth potential analysis
3.16 Price trend analysis
3.16.1 Prince trend, by battery
3.17 Leading industry players
3.18 Competitive landscape, 2019
3.18.1 Strategy dashboard
3.18.1.1 GS Yuasa Corporation
3.18.1.2 Samsung SDI
3.18.1.3 LG Chem
3.18.1.4 Johnson Controls
3.18.1.5 Hitachi Chemical Co., Ltd.
3.18.1.6 Tesla
3.18.1.7 Uniper
3.18.1.8 Enersys
3.18.1.9 Hoppecke Batteries, Inc.
3.18.1.10 Exide Technologies
3.19 PESTEL analysis
Browse Complete Table of Contents (ToC) at
https://www.gminsights.com/toc/detail/stationary-battery-storage-market
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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Source: Global Market Insights, Inc.
