Sellbyville, Delaware, June 07, 2018 (GLOBE NEWSWIRE) --
Stationary Battery Storage Market share is expected to reach USD 35 billion by 2030, as reported in the latest study by Global Market Insights, Inc. Increasing investments toward integration of sustainable energy technologies coupled with growing deployment of enhanced storage units with high power output will foster the stationary battery storage market. Favorable regulatory framework toward the expansion of grid infrastructure will further propel the industry growth. International Finance Corporation in 2017, declared an investment of USD 1.2 billion for the development of renewable energy technologies in India.
Expansion of communication network on account of progression in the wireless technologies will augment the stationary battery storage market. Recurrent power failures and outages along with lack of efficient monitoring systems across the developing nations will complement the business outlook. Rapid technological advancements toward the development of distributed generation technologies will encourage the product adoption.
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Japan stationary battery storage market is set to exceed USD 2 billion by 2030. Ongoing investments toward expansion of microgrid network coupled with rising electricity consumption on account of growing commercial and industrial sector will positively influence the industry growth. In addition, the rising concerns pertaining to security of supply will stimulate the product penetration.
Flow battery in 2017, accounted for over 3.5% of the stationary battery storage market. Rapid technological advancement toward the development of efficient and cost-effective storage solutions along with growing investments toward integration of renewable grid network will foster the business growth. Longer shelf life and higher product efficiency are some of the key features which will makes it adoption preferable when compared with available alternatives.
Increasing R&D spending toward the development of efficient system along with improved shelf life will positively drive the stationary battery storage market. High discharge rate, reduced weight, comparative efficiency, longer life cycle, reducing cost and high voltage output and some of the key imperative parameters which will boost the product demand. In 2017, MDPI denoted the energy density for lithium-ion battery between 110 to 160 Wh/Kg when compared with NiMH, NiCd and lead acid batteries.
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Investments toward refurbishment of ageing electrical infrastructure along with ongoing adoption of advanced grid support systems will foster the North America stationary battery storage market. Rising concerns toward security of supply with increasing spending toward sustainable electric network will stimulate the industry growth. Exponential increase in the power consumption along with growing demand for continuous and reliable electricity will further complement the business growth. In 2017, China proposed an investment of around USD 800 billion across the U.S. energy infrastructure sector.
Notable players across stationary battery storage market includes Samsung SDI, Exide Technologies, A123 systems, Johnson Controls, Durapower, Toshiba, GS Yuasa, Tesla, BYD co, Hitachi Chemical, Duracell, Hitachi Chemical, Valence Technology, Uniper, LG Chem, ACDelco, Hitachi Maxell, Panasonic and Roofer Technology.
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