Grid Scale Stationary Battery Storage Market Analysis

Battery (Lithium Ion, Sodium Sulphur, Lead Acid, Flow Battery)

The global grid scale stationary battery storage market is segmented and analyzed for demand and supply by the battery into lithium-ion, sodium-sulfur, lead acid, and flow battery. Out of the three types of battery, the lithium-ion segment is estimated to gain the largest market share of about 38% in the year 2037. The major factor for the segment growth is the rising awareness level about the advantages of lithium-ion such as its low cost, durability, battery- life, zero maintenance, and others. As a result, the global lithium-ion batteries industry generated almost USD 50 billion in 2022 and is expected to further grow with a steady CAGR of 16%. Also, lithium-ion batteries are being heavily used in electrical products and electronics such as e-bikes, e-vehicles, smartphones, laptops, and others. Furthermore, the recent technological advancement in lithium-ion batteries is also anticipated to bring in growth opportunities for segment expansion.

Grid Services (Frequency Regulation, Flexible Ramping, Energy Shifting)

The global market is also segmented and analyzed for demand and supply by grid services into frequency regulation, flexible ramping, energy shifting and capacity deferral, transmission and distribution congestion relief, capacity firming, reduced RE curtailment, reduced reliance on diesel genets, black start service and others. Amongst these three segments, the hospital pharmacies segment is expected to garner a significant share of around 22% in the year 2037, owing to the increased demand for power system flexibility related to power outages or power system failures, which is anticipated to increase the demand for structured systems for launching black start. Furthermore, the increasing investments in the sector for introducing novel solutions are also anticipated to bring in lucrative opportunities for segment growth.

Our in-depth analysis of the global market includes the following segments: