Lithium ion battery industry segment of Stationary Battery Storage Market to grow at 25% from 2019 to 2030 | Top Key Players are Hitachi Chemical, LG Chem, Hoppecke Batteries, Mutlu Batteries, A123 Systems, Panasonic, Toshiba, Duracell
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With energy crisis issue coming on board across various geographies across the world, stationary battery storage market is subsequently gaining a renewed traction. Battery technology, especially lithium ion based models have been gaining a remarkable attention of late and have progressed the furthest. Lithium ion batteries have extensively deployed in automotive and consumer electronics sectors over the recent years.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Exide Technologies
2. Johnson Controls
8. LG Chem
11. LG Electronics
12. A123 systems
13. Samsung SDI
15. Valence Technology
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.
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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.
Responding to the environmental call, there has been a massive upsurge in the upgradation of conventional grid network model and refurbishment projects. This positive trend is certain to drive stationary battery storage industry share in the coming years. In fact, surveys claim that emerging nations with swiftly developing residential establishments will turn out profitable for the market growth. Frequent grid failures and power discrepancies are thus pushing the demand for stationary battery storage market from the UPS sector.
Though stationary battery storage market is forecast to penetrate most of the emerging nations across the world, the growth curve will vary significantly on a global level. A large number of factors that are underlining this growth variation as per region include regulatory landscape, grid infrastructure, supply framework, population demographics, and energy demand. However, keeping into consideration the aforementioned aspects, stationary battery storage industry is set to exhibit a lucrative road map in the coming time frame, with a remarkable annual growth rate over 2019-2030.
Browse key industry insights spread across 330 pages with 364 market data tables & 13 figures & charts from the report, Stationary Battery Storage Market in detail along with the table of contents:
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.
Another major driving force of the U.S. stationary battery storage market is the increasing power consumption along with the pivotal upsurge in infrastructure development investments. In addition, the launch of highly favorable policies for the development of large scale energy storage projects will also augment the regional industry landscape. Say for instance, in the year 2017, December, the NY government declared numerous regulations targeted toward an energy storage deployment target of 1,500 MW by 2025.
Global key players across stationary battery storage market includes Exide Technologies, Johnson Controls, Tesla, Toshiba, Hitachi, Uniper, ACDelco, Panasonic, Hitachi Maxell Ltd., LG Chem, Valence Technology, Duracell, BYD, GS Yuasa Battery Europe Ltd, A123 systems, LG Electronics, and Samsung SDI.
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