Stationary Energy Storage Market Size, Report 2023-2032
The global stationary energy storage market was valued at USD 39.03 billion in 2022 and it is predicted to surpass around USD 361.13 billion by 2032 with a CAGR of 24.92% from 2023 to 2032.
Key Pointers
Report Scope of the Stationary Energy Storage Market
| Report Coverage | Details |
| Market Size in 2022 | USD 39.03 billion |
| Revenue Forecast by 2032 | USD 361.13 billion |
| Growth rate from 2023 to 2032 | CAGR of 24.92% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Companies Covered | Tesla, Durapower, Exide Technologies, Duracell, Toshiba Corporation, Panasonic Corporation, Samsung SDI, Johnson Controls, Philips, Hoppecke Batteries |
Energy storage refers to any technique that enables the development of energy reserves. One method is to convert electricity into a different type of energy that is easier to store. Hydraulic storage, for example, entails converting electrical energy into mechanical energy by pumping water upwards and then storing it at a higher point. When released into a turbine, this water generates electricity once more through the power of gravity.
Stationary Energy Storage commonly refers to batteries used for backup power rather than those used to power electric vehicles. They are essential because they can provide a reliable source of backup power in the event of a power outage or other emergency. The international market for stationary battery storage systems is rapidly expanding (BSS). Grid-connected BSS have progressed from a niche product to a mass market product, with energy and automotive companies competing for market share today.
Over the last decade, an increasing number of households have used battery storage systems in conjunction with solar PV systems. These battery storage systems (BSS) are used to store the excess solar energy generated during the day and make it available for self-consumption at the end of the day. This benefits both the battery operator and the distribution grid: on the one hand, the operator of a BSS saves money on grid electricity.
Economic feasibility is one of the primary factors driving the adoption of Stationary Energy Storage systems. Despite the fact that a high local electricity price, the inadequacy of current power infrastructure, and the criticality of business operations all play a role, two groups of consumers are likely to prioritize energy storage solutions. Another use for Stationary Energy Storage systems is to provide a continuous supply of electricity during a power outage while backup generators are being installed. This is where the quick dispatch capability of these solutions comes into play, such as in responding to loads with significant voltage and frequency fluctuation, which certain generating assets are not capable of responding to without causing outages.
Battery storage systems are critical for ensuring a consistent and dependable power supply. It is also becoming one of the most important options for properly integrating large amounts of solar and wind renewables into global power grids. They are used in many industries to provide superior connectivity and energy storage. High-capacity batteries are used as a backup source to ensure the stability of the electrical grid and to provide power during power outages. During the forecast period, product adoption will be driven by the increasing global use of renewable energy sources, combined with stringent government regulations aimed at reducing carbon emissions.
The batteries are used in numerous industries to provide superior connectivity and energy storage. High-capacity batteries are used as a backup source to keep the electrical grid stable and to provide power during outages. The increased use of renewable energy sources worldwide, combined with stringent government regulations aimed at reducing carbon emissions, will drive the growth of the Stationary Energy Storage Market.
The primary market driver for Stationary Energy Storage is the rapid deployment of renewable energy combined with favorable government policies to reduce carbon emissions. Furthermore, the continued integration of clean energy systems like wind and solar necessitates cost-effective network synchronization solutions, which will likely drive the Stationary Energy Storage Market expansion. Additionally, rising electricity demand and grid stability will accelerate the Stationary Energy Storage Market forward over the forecast period. The expansion of the Stationary Energy Storage Market will be impeded by volatile investment prospects in several industrial sectors, as well as a lack of standardization.
Battery Insights
Based on the battery, the market is split into lithium ion, sodium sulphur, lead acid, and, flow battery. The stationary energy storage market was dominated by the Sodium Sulphur segment. High energy density, increased safety prospects, and long battery life are the primary factors driving product demand. The lithium-ion segment, on the other hand, is expected to grow at the fastest rate in the coming years. Lithium-ion batteries have a longer shelf life than traditional batteries, which encourages their use.
Type of Energy Storage Insights
Based on the type of energy storage, the market is split into hydrogen and ammonia storage, gravitational energy storage, compressed air energy storage, liquid air storage, and, thermal energy storage. The stationary energy storage market was dominated by hydrogen and ammonia storage. Unlike in mobile applications, hydrogen density is not an issue in stationary applications. Compressed hydrogen in a hydrogen tank, liquid hydrogen in a cryogenic hydrogen tank, and slush hydrogen in a cryogenic hydrogen tank are examples of stationary applications.
Application Insights
Based on the Application, the market is split into grid services and behind the meter. The grid-scale services market is expected to expand rapidly in the coming years. A stationary energy storage device can store and discharge energy in the form of electricity when needed. A stationary energy storage system typically consists of a battery array, an electronic control system, an inverter, and a thermal management system. A set of techniques for storing energy on a large scale within a power grid is referred to as system energy storage. When electricity is abundant and cheap (particularly from intermittent power plants such as wind, tidal, and solar power) or demand is low, electrical energy is stored and later restored to the grid when demand is high and electricity prices are high.
Regional Insights
Based on the region, the stationary energy storage market is classified into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Europe has the largest market share and is expected to grow rapidly during the forecast period. The European market is expected to grow significantly as a result of rising consumer awareness about power supply security, as well as the implementation of a stringent regulatory framework for the adoption of energy-efficient solutions in countries such as Germany. Current energy efficiency reforms, combined with growing supply security concerns, will increase market share. The harsh climatic conditions in the region have created an advantageous environment for battery manufacturing companies.
Stationary Energy Storage Market Segmentations:
By Battery
By Type of Energy Storage
By Application
By Regional
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Battery Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Stationary Energy Storage Market
5.1. COVID-19 Landscape: Stationary Energy Storage Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Stationary Energy Storage Market, By Battery
8.1. Stationary Energy Storage Market, by Battery, 2023-2032
8.1.1 Lithium Ion
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Sodium Sulphur
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Lead Acid
8.1.3.1. Market Revenue and Forecast (2020-2032)
8.1.4. Flow Battery
8.1.4.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Stationary Energy Storage Market, By Type of Energy Storage
9.1. Stationary Energy Storage Market, by Type of Energy Storage, 2023-2032
9.1.1. Hydrogen and Ammonia Storage
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Gravitational Energy Storage
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Compressed Air Energy Storage
9.1.3.1. Market Revenue and Forecast (2020-2032)
9.1.4. Liquid Air Storage
9.1.4.1. Market Revenue and Forecast (2020-2032)
9.1.5. Thermal Energy Storage
9.1.5.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Stationary Energy Storage Market, By Application
10.1. Stationary Energy Storage Market, by Application, 2023-2032
10.1.1. Grid Services
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Behind the Meter
10.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Stationary Energy Storage Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Battery (2020-2032)
11.1.2. Market Revenue and Forecast, by Type of Energy Storage (2020-2032)
11.1.3. Market Revenue and Forecast, by Application (2020-2032)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Battery (2020-2032)
11.1.4.2. Market Revenue and Forecast, by Type of Energy Storage (2020-2032)
11.1.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Battery (2020-2032)
11.1.5.2. Market Revenue and Forecast, by Type of Energy Storage (2020-2032)
11.1.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Battery (2020-2032)
11.2.2. Market Revenue and Forecast, by Type of Energy Storage (2020-2032)
11.2.3. Market Revenue and Forecast, by Application (2020-2032)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Battery (2020-2032)
11.2.4.2. Market Revenue and Forecast, by Type of Energy Storage (2020-2032)
11.2.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Battery (2020-2032)
11.2.5.2. Market Revenue and Forecast, by Type of Energy Storage (2020-2032)
11.2.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Battery (2020-2032)
11.2.6.2. Market Revenue and Forecast, by Type of Energy Storage (2020-2032)
11.2.6.3. Market Revenue and Forecast, by Application (2020-2032)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Battery (2020-2032)
11.2.7.2. Market Revenue and Forecast, by Type of Energy Storage (2020-2032)
11.2.7.3. Market Revenue and Forecast, by Application (2020-2032)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Battery (2020-2032)
11.3.2. Market Revenue and Forecast, by Type of Energy Storage (2020-2032)
11.3.3. Market Revenue and Forecast, by Application (2020-2032)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Battery (2020-2032)
11.3.4.2. Market Revenue and Forecast, by Type of Energy Storage (2020-2032)
11.3.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Battery (2020-2032)
11.3.5.2. Market Revenue and Forecast, by Type of Energy Storage (2020-2032)
11.3.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Battery (2020-2032)
11.3.6.2. Market Revenue and Forecast, by Type of Energy Storage (2020-2032)
11.3.6.3. Market Revenue and Forecast, by Application (2020-2032)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Battery (2020-2032)
11.3.7.2. Market Revenue and Forecast, by Type of Energy Storage (2020-2032)
11.3.7.3. Market Revenue and Forecast, by Application (2020-2032)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Battery (2020-2032)
11.4.2. Market Revenue and Forecast, by Type of Energy Storage (2020-2032)
11.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Battery (2020-2032)
11.4.4.2. Market Revenue and Forecast, by Type of Energy Storage (2020-2032)
11.4.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Battery (2020-2032)
11.4.5.2. Market Revenue and Forecast, by Type of Energy Storage (2020-2032)
11.4.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Battery (2020-2032)
11.4.6.2. Market Revenue and Forecast, by Type of Energy Storage (2020-2032)
11.4.6.3. Market Revenue and Forecast, by Application (2020-2032)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Battery (2020-2032)
11.4.7.2. Market Revenue and Forecast, by Type of Energy Storage (2020-2032)
11.4.7.3. Market Revenue and Forecast, by Application (2020-2032)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Battery (2020-2032)
11.5.2. Market Revenue and Forecast, by Type of Energy Storage (2020-2032)
11.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Battery (2020-2032)
11.5.4.2. Market Revenue and Forecast, by Type of Energy Storage (2020-2032)
11.5.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Battery (2020-2032)
11.5.5.2. Market Revenue and Forecast, by Type of Energy Storage (2020-2032)
11.5.5.3. Market Revenue and Forecast, by Application (2020-2032)
Chapter 12. Company Profiles
12.1. Tesla
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Durapower
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Exide Technologies
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Duracell
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Toshiba Corporation
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Panasonic Corporation
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Samsung SDI
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Johnson Controls
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Philips
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Hoppecke Batteries
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers