Stationary Battery Storage Market growth will be driven by robust need to transform conventional grids to sustainable ones has led to a massive upsurge in the number of electrical network upgradation and grid refurbishment projects. Frequent grid failures at these places coupled with the extensive requirement for electricity will thus, collectively drive the demand for emergency power supply, setting the ground lucrative for stationary battery storage industry from emergency power supply.
Stationary battery storage market key players across the globe have set their eyes on manufacturing unique products to be utilized across numerous end-use sectors. For instance, a renowned German energy company, EWE Gasspeicher, has recently declared its partnership with a university for constructing a huge flow battery in underground salt caverns that will be capable of supplying electricity to the capital city for 60 minutes. The company claims that this grid-tied battery, with a capacity of 120MW/750MWh, would be the largest flow battery in the world post its launch in 2023.
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With grid connected battery storage systems getting into the mainstream power supply, stationary battery storage market is forecast to witness an upswing in the coming years. Energy storage has served as an interface between intermittent renewable power and the benefits of all time reliable, clean resilient energy supply. Utilities around the world are intrigued by the storage potential to address other needs such as releasing congestion and smoothening out power variations that occur even in renewable energy generation. One of the profound factors that is likely to act in favor of stationary battery storage industry augmentation is the unprecedented demand for electricity across the world. With the increasing global initiatives toward greenhouse gas emission abatement, a portion of the upcoming power generation should come from renewable sources.
Statistics claim, stationary battery storage market valuation is forecast to take a giant leap in the coming years in terms of revenue collection, with a target value of USD 170 billion by 2030. The industry landscape is quite regulatory driven, given that the system deployment has some profound environmental impact. The stringent regulatory framework and the economic structure that needs to be abided by at various stages in energy storage systems deployments determines the competitiveness of the stationary battery storage industry landscape.
Product differentiation is one of the prime strategies adopted by the stationary battery storage industry giants to sustain their position. For instance, Tesla’s lithium ion based battery storage products, ‘Powerwall’ is indeed a breakthrough in the industry. Recently, the American automaker has launched the upgraded version of the storage solution, Powerwall 2 of in South Australia, to mitigate the problem of increasing blackouts in the continent. Some of the other biggies involved in stationary battery storage market include Hitachi Maxell, Koninklijke Philips, Valence Technology, A123 Systems, and Exide Technologies.
Recently however, in response to Tesla’s Powerwall deployment in Australia, a Brisbane-based firm has declared the production of a residential battery named ZCell, forecast to be the dark horse infiltrating the battleground on which Tesla aims to secure triumph. The magnitude of stationary battery storage market is thus, gargantuan, which is also quite evident from the competitive landscape of this market – according to a stationary battery storage industry report, the revenue share of this business is apportioned among the big-league enterprises such as GS Yuasa, Hitachi Maxell, Uniper, Koninklijke Philips, A123 Systems, ACDelco, Valence Technology, Durapower, Exide Technologies, Hitachi Chemical, Duracell, LG Chem, Tesla, Johnson Controls, Toshiba, Roofer Technology, Samsung SDI, BYD Co., and Panasonic.
China, as per market experts, will prove to be a lucrative business ground for stationary battery storage market investors. A plethora of factors that can be placed behind this forecast include extensive commercialization, growing regional population coupled with surging demand for power, and Chinese government’s huge investment in grid upgradation. For instance, in 2017 China had decided to spend approximately USD 360 billion on renewable power technologies such as wind and solar by 2020. China Energy Storage Alliance (CNESA) in their recent report has forecast that the country will undergo a chain of trends in the coming years, pertaining to the energy industry, which undoubtedly will leave a perpetual impact on the regional stationary battery storage industry.
The U.S. belt has quite actively responded to the rising environmental needs, owing to which the region is forecast to be a potential business avenue for stationary battery storage market. Driven by the refurbishment of current electrical networks as well as the launch of sustainable building codes and standards, the United States has been touted to emerge as a viable revenue pocket for this business space.
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