Global Stationary Battery Storage Market: Overview
Stationary battery storage plays an important role in creating a stable and efficient power supply. Stationary batteries have several applications as they offer excellent connectivity and storage. They come in a number of designs and can be used for standby or emergency purposes. The global stationary battery storage market is expected to grow exponentially during the forecast period.
The forthcoming Transparency Market Research report provides historical data about the changes and developments in the market. It offers insights on the key factors driving the market’s growth and the probable threats. It essentially talks about the market landscape and analyzes the key trends in the market. Additionally, it offers regional distribution of the market and provides a better understanding of the competitive dynamics.
Global Stationary Battery Storage Market: Drivers and Restraints
Increase in industrialization has surged the demand for energy efficient power sources. This is a major driving factor behind the growth of global stationary battery storage market. In addition to this, environmental awareness has increased the demand for renewable energy sources, thereby propelling the market’s growth. Furthermore, technological advances pertaining to the development of grid network have led to an expansion in the stationary battery storage market.
Governments are taking initiatives pertaining to the use of sustainable energy sources and have laid down stringent regulations for the same. This has resulted in an upsurge in investments on stationary batteries, thus impacting the global stationary battery storage market positively. Furthermore, availability of low cost manufacturing materials and declining battery prices have ushered the market’s revenue share.
Moreover, advances in electrical infrastructure and greater adoption of wireless technologies have contributed to the market’s expansion. In addition to this, an increasing need for uninterrupted power supply has promoted the production of stationary batteries, thus amplifying the stationary battery storage market’s growth.
However, along with the drivers there a few hindrances that may cause a shortfall in the market. The lack of familiarity with the benefits and applications of stationary batteries may recede the market’s growth. In addition to this, outdated regulatory policies may act as a constraint in the market’s expansion. Nonetheless, initiatives taken by governments to promote the use of renewable energy sources and modernization of electric infrastructure may expedite the global stationary battery storage market’s growth.
Global Stationary Battery Storage Market: Geographical Distribution
The stationary battery storage market in North America exhibits immense growth potential owing to a rising demand from the U.S. Additionally, excellent electrical grid network has also driven the market’s growth in this region. Europe is estimated to witness substantial growth during the forecast period on account of prevalence of stringent environmental regulatory framework. Increasing adoption of energy efficient solution in countries such as Germany has also contributed to the market’s growth in this region. The major contributor of the market’s growth in Asia Pacific is China due to an expansion of its communications network.
Global Stationary Battery Storage Market: Competitive Landscape
Major players in the stationary battery storage market include ACDelco, Hoppecke, A123 Systems, Durapower, GS Yuasa, and Furukawa. These companies are working on improving the cost-efficiency of their product and emphasizing on product sustainability to increase their consumer base. In addition to this, they are deploying strategic marketing techniques and working on brand equity to further strengthen their position in the market.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.