Grid Scale Stationary Battery Storage Market Growing attempts to offer uninterrupted power supply during power outages and increased clean energy system integration

According to Precision Business Insights (PBI), the latest report the global grid scale stationary battery storage market is expected to be worth USD 10,376.3 million in 2021 and projected to grow at an 12.5% CAGR over 2022 to 2028. Rising investments in renewable energy resources, increased government awareness of the need to reduce carbon emissions, and an increase in demand for grid stability and electricity supply problems are the factors influence the growth of grid scale stationary battery storage market over the forecast years. According to the c2es organization, carbon dioxide accounts for around 76 percent of all greenhouse emissions, with the most significant sources being the use of fossil fuels for power, heat, and transportation. Increasing attempts to offer uninterrupted power supply during power outages, as well as advances in the performance characteristics of lithium-ion batteries, are projected to fuel market expansion in the coming years.

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The Lithium-ion Battery Segment is Dominating the Grid Scale Stationary Battery Storage Market
The Lithium-ion Battery segment is expected to account for a larger revenue share and the market is expected to grow at double digit growth rate over the forecast years owing to these batteries are widely used in portable electronic devices, personal computers, digital cameras, and a variety of other electronic products in the consumer electronics sector. These batteries are also used in autos and stationary applications such as telecom towers and residential inverters where an uninterrupted power source is required. This boosts their acceptance and consequently supports the segment development.

Asia Pacific Leads Grid Scale Stationary Battery Storage Market:
Asia Pacific is expected to hold significant market share in the global Grid Scale Stationary Battery Storage market and is projected to grow at a prominent growth rate over the forecast years The Asia Pacific market is expected to gain the highest share throughout the forecast period, owing to the region's fast industrialization and urbanisation, high manufacturing output of countries such as China and India, and increased development of new products. For example, in 2017, China's urban population was roughly 59 percent, which is expected to climb to approximately 64 percent by the end of 2020.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global Grid Scale Stationary Battery Storage market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In February 2017, ABB innovated microgrid in Anchorage, Alaska, that combines battery and flywheel-based storage technologies to evaluate scalability and upgrade power stability for around 300,000 people. In 2021, Tesla installed 85MW of solar and 1,274MWh of storage. Most of the increase in storage installs came from large-scale battery storage projects, although home storage deployments also increased yearly.

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Detailed Segmentation
1) By Grid Service
Frequency Regulation
Flexible Ramping
Black Start Services
Energy Shifting and Capacity Deferral
Transmission and Distribution Congestion Relief
Capacity Firming
Reduced RE Curtailment
Reduced Reliance on Diesel Gensets

2) By Battery Type
Lithium Ion
Sodium Sulphur
Lead Acid
Flow Battery

3) By Geography
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa (MEA)

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Key player's profiles in the grid scale stationary battery storage market report are GS Yuasa Corp., Johnson Controls, Inc., Exide Technologies, Inc., Enersys, Inc., Northstar Battery Company LLC, C&D Technologies, Inc.

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