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Stationary Energy Storage Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities
Stationary Energy Storage Market Size
What Is the Projected Growth of the Stationary Energy Storage Market?
The size of the stationary energy storage market has experienced significant expansion over the recent years. It is projected to enlarge from $36.83 billion in 2024 to $44.84 billion in 2025, with a compound annual growth rate (CAGR) of 21.8%. This historical growth can be linked to factors such as the increasing need for emergency power back-up during power interruptions, the gradual shift from fossil fuel to sustainable energy, the heightening environmental decarbonization policy, growing manufacturing of electric vehicles, and a heightened concentration on energy durability and dependability.
Expected to witness unparalleled growth in the coming years, the stationary energy storage market size is forecasted to reach $97.85 billion in 2029 with a compound annual growth rate (CAGR) of 21.5%. This predicted growth during the forecast period is due to multiple reasons including increased investment in efficient grid infrastructure, a surge in the demand for batteries in grid services, expanding installation of solar and wind power projects, evolving government policies and incentive schemes, growing needs for electricity and grid stability, along with the escalating demand for electricity. Significant trends for the forecast period encompass developments in battery management systems, ground-breaking technologies, innovation within the energy storage sector, amplification in renewable technology, and advancements in storage technologies.
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What Are the Different Stationary Energy Storage Market Segments?
The stationary energy storage market covered in this report is segmented -
1) By Type Of Energy Storage: Hydrogen And Ammonia Storage, Gravitational Energy Storage, Compressed Air Energy Storage, Liquid Air Storage, Thermal Energy Storage
2) By Battery: Lithium Ion, Sodium Sulphur, Lead Acid, Flow Battery
3) By Application: Grid Services, Behind The Meter
4) By End-User: Residential, Commercial And Industrial, Other End Users
Subsegments:
1) By Hydrogen And Ammonia Storage: Liquid Hydrogen Storage, Gaseous Hydrogen Storage, Liquid Ammonia Storage, Solid-state Hydrogen Storage
2) By Gravitational Energy Storage: Pumped Hydroelectric Storage, Solid Block-Based Gravitational Systems, Tower-Based Gravitational Systems
3) By Compressed Air Energy Storage (CAES): Diabatic Compressed Air Storage, Adiabatic Compressed Air Storage, Isothermal Compressed Air Storage
4) By Liquid Air Storage: Liquid Air Tanks, Heat Exchanger Systems, Cryogenic Compressors
5) By Thermal Energy Storage: Sensible Heat Storage, Latent Heat Storage, Thermochemical Energy Storage
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What Are the Primary Drivers Shaping the Stationary Energy Storage Market?
Growth in the adoption of renewable energy sources is projected to drive the expansion of the stationary energy storage market. Renewable energy sources, including solar, wind, hydro, geothermal, and biomass, are naturally replenishing and are utilised for sustainable power production. Environmental concerns are prompting a rise in the adoption of renewable energy as it curtails carbon emissions and aids in combating climate change. Stationary energy storage is utilized by these sources to preserve surplus energy produced during peak times for consumption during low-production periods or high demand periods. For example, the Energy Information Administration, a US government agency, predicted in January 2024 that US solar power generation would climb 75%, from 163 billion kilowatt-hours (kWh) in 2023 to 286 billion kWh in 2025, and wind power generation would grow by 11%, from 430 billion kWh in 2023 to 476 billion kWh in 2025. Consequently, the growth of the stationary energy storage market is being spurred by the increasing use of renewable energy sources.
Which Companies Are Leading in the Stationary Energy Storage Market?
Major companies operating in the stationary energy storage market are Engie S.A., Tesla Inc., Siemens AG, General Electric Company, BYD Company Limited, Panasonic Holdings Corporation, Contemporary Amp Technology Co. Limited (CATL), LG Chem Ltd., Mitsubishi Heavy Industries Ltd., ABB Ltd., Eaton Corporation plc, Johnson Controls International plc, Samsung SDI Co. Ltd., The AES Corporation, Fluence Energy Inc., Saft Groupe S.A., Duracell Power Center, Enel X S.r.l., Sonnen Batterie GmbH, 24M Technologies Inc.
What Trends Are Expected to Dominate the Stationary Energy Storage Market in the Next 5 Years?
In the static energy storage sector, significant firms like GM Energy LLC are prioritizing technological progress, such as integrated vehicle-to-home (V2H) charging. This enhancement improves energy resilience, optimizes electricity utilization, and gives users increased autonomy over their home energy management. V2H charging technology enables electric cars to provide power to households, ensuring energy is available during blackouts and efficiently managing electric consumption. GM Energy LLC, an American industrial machinery manufacturer, introduced the power bank in October 2024. It is a stationary energy storage system created for EV customers to stockpile and transfer grid energy. With available capacities of 10.6 kWh and 17.7 kWh, it offers backup power during blackouts and helps reduce electricity expenses. Customers have the option to combine two power banks to achieve storage of up to 35.4 kWh, sufficient to power an average American home for 20 hours. This system is included in the GM energy home system bundle, which seamlessly integrates with GM vehicle apps for remote energy management and offers V2H charging support.
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What Are the Top Revenue-Generating Geographies in the Stationary Energy Storage Market?
North America was the largest region in the stationary energy storage market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the stationary energy storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Stationary Energy Storage Market?
2. What is the CAGR expected in the Stationary Energy Storage Market?
3. What Are the Key Innovations Transforming the Stationary Energy Storage Industry?
4. Which Region Is Leading the Stationary Energy Storage Market?
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