Press release
Stationary Battery Storage Market Massive Growth Counted On Top Manufactures Like Durapower, Tesla, Hitachi Maxell, LG Chem Johnson Controls, A123 systems, Hitachi Chemical
Stationary Battery Storage Market is predicted to surpass USD 35 billion by 2030. Increasing adoption of storage systems with higher power capacity along with growing investments to integrate sustainable energy technologies will amplify the business growth. Regulatory measures to reinforce the grid network will further complement the industry landscape. In 2017, International Finance Corporation, in India allocated USD 1.2 Billion toward the development of renewable technologies.
Eminent leaders in the stationary battery storage market include ACDelco, Exide Technologies, Durapower, Tesla, Hitachi Maxell, LG Chem Johnson Controls, A123 systems, Hitachi Chemical, GS Yuasa Duracell, BYD co, Hitachi Chemical, Uniper, Panasonic, Roofer Technology, Toshiba, Valence Technology and Samsung SDI.
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U.S. stationary battery storage market will expand owing to the increasing investments toward the restoration of existing electrical infrastructure along with growing deployment of advance support systems. Increasing power consumption coupled with growing need for reliable and continuous supply of electricity will further enhance the business growth. For instance, China announced investment of USD 800 billion in the U.S. energy infrastructure industry in 2017.
High voltage capacity along with high gravimetric and volumetric densities are some of the key parameters which will propel the stationary battery storage Market. The Multidisciplinary Digital Publishing Institute (MDPI) in 2017, stated the energy density of lithium-ion battery varying from 110 - 160 Wh/Kg as compared to the lead acid, NiCd and NiMH, batteries. Furthermore, the reduction in the battery cost owing to economy of scale and efficient manufacturing coupled with availability of low cost raw material will complement the industry outlook.
Advancement in the designing of wireless technologies along with development of communication network will expand the stationary battery storage Market. Unavailability of effective monitoring units across the emerging economies coupled with recurrent power failures & outages will augment the business growth. Moreover, rapid technological enhancements for the advancement of distributed generation technology will stimulate the adoption of product.
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Continuous investments for the development of grid network along with rising consumption of electricity owing to propelling industrial and commercial segment will embellish the Japan stationary battery storage market growth. Furthermore, growing concerns relating to the supply security will drive the product adoption.
In 2017, flow battery held over 3.5% share in the global stationary battery storage market. Growing investments for the integration of renewable grid infrastructure along with ongoing innovations to develop cost-effective and efficient storage solutions will enhance the industry outlook. Higher efficiency and longer shelf life are some of the features which will further boost the product penetration.
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