Grid Scale Stationary Battery Storage Market Size

Grid Scale Stationary Battery Storage Market size was valued at USD 117.36 billion in 2024 and is likely to cross USD 2.76 trillion by 2037, registering more than 27.5% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of grid scale stationary battery storage is assessed at USD 143.18 billion.

The primary reason for the extensive growth of the global market is the rising demand for electricity by the global population. Owing to the rapid industrialization and urbanization, the demand for electricity has increased considerably. This factor has generated the need for grid-scale stationary battery storage for uninterrupted power supply to carry out various applications and services. Hence, the increased demand for energy and electricity is estimated to bring lucrative growth opportunities for the expansion of the global grid-scale stationary battery market during the forecast period. As per recent statistics, it is forecasted that the global demand for electricity is expected to considerably grow by the end of 2023. Furthermore, it is stated that an additional 2,500 terawatt hours (TWh) of electricity demand is anticipated to be added by 2025. Thus, this 9% growth would take the global electricity demand to almost 30,000 terawatt hours (TWh).

The work of a grid-scale stationary battery storage system is to store energy and discharge it in the form of electricity whenever needed. An array of batteries, an electronic control system, an inventor, and a thermal management system are integrated into grid-scale stationary battery storage. It is very useful in storing electricity in such situations when energy is available at cheap rates, or the demand is low for later use when demand is high and electricity costs are higher. Thus, the global grid scale stationary battery storage market is expected to rise during the analysis period on account of its ability for power quality management, successful renewable integration, as well as grid peak load management. Furthermore, its low costs, long life span, and growing consumer dependence on energy storage systems are other advantages that are anticipated to bring favorable opportunities for market growth during the forecast period.