Global stationary lithium-ion battery market size to record 12.7% CAGR through 2028
SKYLINE MARKET RESEARCH LLP
5 min read
SKYLINE MARKET RESEARCH LLP
The recent study on 'Global Stationary Lithium-Ion Battery Market' looks at the major trends, challenges, growth drivers, opportunities, countermeasures, and threats prevailing in the industry space.
Pune, India, May 11, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, global stationary lithium-ion battery market size is projected to grow with a CAGR of 12.7% during 2022-2028 to amass a valuation of USD 9,498 million by the forecast period end.
The market is divided into end-user, and geographical landscape, with the document providing data on each segment's growth rate and industry share throughout the forecast period. The report then goes on to give a 360-degree view of the key market players, their financials, product/service portfolios, and major developments such as mergers, collaborations, and investments.
This research, which contains findings from Porter's Five Forces model and PEST analysis, aids investors in locating successful investment opportunities, resulting in increased revenue generation.
The industry is primarily driven by the necessity to convert to renewable energy sources such as solar and wind energy for clean & sustainable energy, and significant financial investments from both the public and private sectors.
Moreover, rising adoption of data center UPS systems, as well as non-conventional energy generation that necessitates stationary lithium-ion energy storage systems (ESS) are further bolstering the market trends.
For the unversed, stationary lithium-ion systems are critical components of the energy storage architecture, allowing utilities, residential, and commercial users to meet their energy storage needs. Li-ion batteries have become popular for mobility and stationary energy storage due to their low cost.
Furthermore government’s' initiatives to attain zero-energy targets in the residential sector, as well as increasing building and installation of PV systems are expected to augment the global stationary lithium-ion battery market outlook during the analysis timeframe.
Attempts made by the government to minimize reliance on fossil fuels and better economic conditions, which are expected to boost investments in renewable energy solutions are contributing towards industry expansion.
COVID-19 impact:
The advent of COVID-19 has negatively impacted the market scenario in the recent past, due to stringent lockdowns, resulting in the closure of different manufacturing sites. Various projects, including energy storage were postponed, due to labor shortages and supply chain disruptions, which has hampered the industry growth.
Market segment overview:
Based on end user scope, the industry is branched into utilities, telecommunication, residential, industrial, energy & power, data centers, commercial, and others.
To access a sample copy or view this report in detail along with the table of contents, please click the link below:
Sungrow Power Supply Co., Ltd., SK Innovation Co., Ltd., Samsung Electronics Co., Ltd., Panasonic Corporation, Northvolt AB, LG Chem Ltd., Hitachi Chemical Co., Ltd., GS Yuasa Corporation, Doosan Corporation, Contemporary Amperex Technology Co., Limited (CATL), and BYD Co., Ltd. are the leading players in worldwide stationary lithium-ion battery marketplace. These companies are putting efforts in new product releases, R&D spending, and increased manufacturing capacity to boost their presence in the business sphere. Along with that, they are commencing strategies like collaborations & partnerships, and mergers & acquisitions to expand their costumer base.
Global Stationary Lithium-Ion Battery Market, by End-User (Revenue, USD, 2018-2028)
Utilities
Telecommunication
Residential
Industrial
Energy & Power
Data Centers
Commercial
Others
Global Stationary Lithium-Ion Battery Market, Geographical Fragmentation (Revenue, USD, 2018-2028)
North America
Europe
Asia Pacific
Rest of the World (RoW)
Global Stationary Lithium-Ion Battery Market, Company Profiles (Revenue, USD, 2018-2028)
The lithium ion battery market is projected to record a substantial growth rate over the coming years owing to the battery technologya??s growing adoption of consumer electronics, and electric vehicles. Additionally, the surge in demand for smart electronic devices is also likely to drive revenue growth. A lithium ion battery is a technologically advanced battery technology that utilizes lithium ions as a main component of its electrochemistry. These batteries also utilize several different materials as electrodes. The most basic combination is that of lithium cobalt oxide and graphite, that is mostly found in portable electronic devices like laptops and cellphones.
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