PUBLISHER: The Business Research Company | PRODUCT CODE: 1695331
PUBLISHER: The Business Research Company | PRODUCT CODE: 1695331
Stationary battery storage systems are crucial components of the evolving energy landscape, providing the capability to store electrical energy for later use in fixed applications. This technology is instrumental in advancing the transition towards a more sustainable, reliable, and flexible energy infrastructure. Stationary battery storage serves a multitude of purposes, including grid management, integration of renewable energy sources, and supplying backup power across various sectors.
Diverse types of stationary battery storage solutions exist, encompassing hydrogen and ammonia storage, gravitational energy storage, compressed air energy storage, liquid air storage, and thermal energy storage. Hydrogen and ammonia storage involve specialized methods and technologies designed for storing hydrogen gas (H2) and ammonia (NH3), serving multiple applications, notably as energy carriers or feedstocks in various industries. The application of different battery types, such as lithium-ion, sodium-sulfur, lead-acid, and flow batteries, is widespread in stationary battery storage systems, catering to diverse needs such as grid services, behind-the-meter applications, and off-grid scenarios.
The stationary battery storage market research report is one of a series of new reports from The Business Research Company that provides stationary battery storage market statistics, including stationary battery storage industry global market size, regional shares, competitors with a stationary battery storage market share, detailed stationary battery storage market segments, market trends and opportunities, and any further data you may need to thrive in the stationary battery storage industry. This stationary battery storage market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The stationary battery storage market size has grown exponentially in recent years. It will grow from $46.48 billion in 2024 to $58.18 billion in 2025 at a compound annual growth rate (CAGR) of 25.2%. The growth in the historic period can be attributed to grid stability and reliability, government incentives and policies, electrification of transportation, energy independence, peak shaving and load management, microgrid development.
The stationary battery storage market size is expected to see exponential growth in the next few years. It will grow to $132.55 billion in 2029 at a compound annual growth rate (CAGR) of 22.9%. The growth in the forecast period can be attributed to grid modernization initiatives, evolving utility business models, residential energy management, climate resilience initiatives, hybrid power plants. Major trends in the forecast period include advancements in battery technologies, hybrid energy storage systems, energy management solutions, behind-the-meter systems, decentralized energy storage systems.
The expansion of renewable energy sources is set to be a key driver propelling the growth of the stationary battery storage market. As renewable energy deployment, including solar, wind, hydropower, and geothermal sources, continues at a rapid pace, the demand for efficient energy storage solutions escalates. Stationary battery storage solutions play a crucial role in maintaining grid stability and reliability amid this surge in renewable energy use. They offer grid operators enhanced flexibility and control while mitigating the necessity for costly grid infrastructure upgrades. For instance, as reported by the National Renewable Energy Laboratory (NREL) in April 2023, global photovoltaic (PV) installations reached 231 gigawatts of direct current (GWdc), contributing to a cumulative total of 1.2 terawatts of direct current (TWdc) in 2022. The robust growth in installations, particularly in China, driven by distributed PV, forecasts an upward trajectory, with global installations projected to exceed 300 GW by 2023 and surpass 400 GW by 2025. This trajectory indicates that the rapid deployment of renewable energy sources will significantly bolster the stationary battery storage market.
The growing adoption of electric vehicles (EVs) is expected to drive the expansion of the stationary battery storage market in the coming years. Electric vehicles are powered by one or more electric motors that use electrical energy stored in rechargeable batteries. Stationary battery storage can support electric vehicles by extending the life of EV batteries, addressing short-term grid storage needs, and providing adequate capacity for energy storage. For example, in June 2024, the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, reported significant growth in the electric car market, with sales nearing 14 million units in 2023. The share of electric vehicles in total vehicle sales increased from about 4% in 2020 to 18% in 2023. This strong upward trend in EV sales is expected to continue into 2024, with over 3 million electric cars sold in the first quarter alone. As a result, the growing adoption of electric vehicles is fueling the growth of the stationary battery storage market.
Prominent companies within the stationary battery storage market are actively developing advanced technologies, exemplified by Rimac Energy's stationary energy storage systems, to enhance market profitability. Rimac Energy stands out as a technologically advanced battery architecture delivering a notable 50% reduction in efficiency losses and reducing the system's footprint by up to 40%, surpassing existing industry-leading solutions. Notably, Rimac Technology, a Croatia-based automotive manufacturer, unveiled Rimac Energy in May 2023, marking a significant leap in stationary energy storage technology. This system represents the next generation of stationary energy storage systems (ESS), leveraging the company's expertise in pioneering electric vehicle technology. The innovative electrical structure supporting Rimac Energy's ESS grants it significant advantages in performance, safety, and availability, including up to 50% lower energy losses and a 40% smaller system footprint.
In February 2022, Beam Global, a company in the United States specializing in innovative and sustainable products and technologies for electric vehicle (EV) charging, completed the acquisition of Acell Technology LLC for an undisclosed sum. This strategic move by Beam Global is geared toward fortifying its position in the clean technology sphere by merging two American-based manufacturers and innovators. AllCell Technology LLC, the acquired entity, is a renowned U.S.-based manufacturer of stationary energy storage solutions, notably specializing in lithium-ion batteries.
Major companies operating in the stationary battery storage market report are Uniper SE, Hitachi Ltd., Tesla Inc., Siemens AG, General Electric Company, Lockheed Martin Corporation, Panasonic Corporation, BYD Company Ltd., LG Chem Ltd., Toshiba Corporation, Johnson Controls International PLC, Samsung SDI Co. Ltd., Furukawa Battery Co. Ltd., GS Yuasa International Ltd., Exide Technologies, East Penn Manufacturing Co. Inc., Narada Power Source Co. Ltd., Saft Groupe S.A., Duracell Inc., Fluence Energy LLC, Schmid Group, Hoppecke Batteries, HydraRedox, CMBlu Energy AG, Durapower Group, JenaBatteries GmbH
North America was the largest region in the stationary battery storage market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the stationary battery storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the stationary battery storage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The stationary battery storage market consists of sales of microgrid battery systems, residential battery storage systems, utility-scale battery storage systems, and containerized battery storage units. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Stationary Battery Storage Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on stationary battery storage market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for stationary battery storage ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The stationary battery storage market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.