Mar 10, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Stationary Battery Storage Market.
It was estimated prior to this unanticipated outbreak that the Stationary Battery Storage Market is likely to witness an impressive CAGR of 15.4% during the forecast period. The growing demand for stationary battery storage is mainly due to ongoing integration of clean energy systems, which has created a need for cost effective technologies.
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Stationary battery storage system can store and release energy in the form of electricity when it is needed. Stationary batteries, on account of their ability to efficiently absorb, store and release electric energy, are quickly gaining traction in the market.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the battery type, the market is segmented as lithium-ion, sodium sulphur, lead acid, flow battery, and others. The lithium-ion segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. The lithium-ion batteries have higher shelf life compared to the conventional batteries, which is encouraging the usage of these batteries.
In terms of regions, Asia-Pacific is estimated to be the fastest-growing stationary battery storage market during the forecast period, with China, Japan, India, and Australia being the major countries offering lucrative growth opportunities. The trend of shifting from conventional power generation to clean/green source of energy has led the market of stationary battery storage all over the world. Further, the rural electrification in the developing countries of Asia-Pacific has boosted the demand significantly.
Key players operating in the global Stationary Battery Storage market are-
- BYD Co. Ltd.
- Duracell Inc.
- Exide Technologies
- Johnson Controls Inc.
- Samsung SDI Co. Ltd
- Toshiba Corporation
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Stationary Battery Storage analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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