Stationary Energy Storage Market Overview
The global stationary energy storage market is estimated to reach $233.9 billion in 2031, reveals the premium market intelligence study. The study also highlights that the market is set to witness a CAGR of 23.4% during the forecast period 2022-2031.
Stationary or battery energy storage systems utilize an array of battery systems to store surplus renewableenergies (solar or wind) generated, which enables steady, predictable power delivery for use or return to the grid. Growth in the stationary energy storage market is being driven by the increasing focus on renewable energy, supportive government policies, need for electricity grid optimization, and decreasing cost of batteries.
USP of the Report
• Market ranking analysis based on product portfolio, recent developments, and regional spread
• Start-up and investment landscape, including product adoption scenario and funding
• Volume market for stationary energy storage at regional and country level
Analyst Perspective
According to Pooja Tanna, Lead Analyst of the report, “Stationary energy storage systems are expected to be the best option for decarbonizing the power generation industry. With the increasing focus on adoption of renewable energies into the energy mix coupled with decreasing battery cost, the stationary energy storage industry is expected to grow at a substantial rate.”
Key Companies Operating in The Market
Key players in the global stationary energy storage market analyzed and profiled in the study involve battery manufacturers and providers. Moreover, a detailed competitive benchmarking of the players operating in the global stationary energy storage market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
The key players profiled in the report include Tesla, Duracell Power Center, Durapower Group, Exide Industries, Johnson Controls, Contemporary Amperex Technology Co., Limited (CATL), TOSHIBA CORPORATION, BYD Motors Inc., Panasonic, Hitachi Ltd., Hoppecke Batteries Inc., THE FURUKAWA BATTERY CO. LTD., LG Energy Solutions, SAMSUNG SDI CO., LTD., GS Yuasa International Ltd., ENERSYS., ION Energy Inc., Peak Power, GBatteries, and 24M.
Key Questions Answered in the Report
• What are some of the major factors and trends that are impacting the stationary energy storage market?
• How has COVID-19 impacted the adoption of the stationary energy storage market globally?
• Which are the leading applications that are rapidly adopting stationary energy storage?
• What are the latest developments in various countries for the development of stationary energy storage, and what are some of the emerging applications globally?
• What are the various governmental regulations/initiatives that have increased the adoption of stationary energy storage globally?
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