Global Stationary Lithium-ion Battery Growth Opportunities

Global Stationary Lithium-ion Battery Growth Opportunities

Future Growth Potential Driven by Demand for Battery Energy Storage Systems

RELEASE DATE
02-Mar-2022
REGION
Global
Research Code: MG5E-01-00-00-00
SKU: EG02220-GL-MT_26326
$4,950.00
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$4,950.00
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Description

Stationary lithium-ion systems are key components of the energy storage architecture, which fulfill energy storage requirements for utilities, residential, and commercial customers. The global growth of renewable energy installations has increased intermittent energy production, creating an unbalanced grid. This has led to a demand for energy storage solutions to balance the grid during lean times and feed back into the grid during high requirement times. Lead-acid batteries and pumped hydro storage traditionally dominated the market. However, in the past decade, the growing production of Li-ion batteries for the automobile sector has pushed down battery system prices, enabling their deployment in utility-scale, residential, and commercial storage systems. The focus on zero carbon emissions and need to move away from fossil fuels, namely coal, for power production prompt more governments to incentivize solar and wind power installations. These installations lend themselves to battery storage systems that store excess power generated. Government incentives to incentivize Li-ion battery installations also drive deployments across developing economies. Harsh weather conditions also strain existing transmission and distribution infrastructure, leading to extended blackouts and increased demand for energy storage solutions to reduce grid dependence. However, diesel gensets and lead-acid batteries pose major competition to the development of stationary Li-ion battery systems.

Utility sector installations are key drivers for battery energy storage systems (BESS). This segment is expected to grow from $2.25 billion in 2021 to $5.99 billion in 2030 at a CAGR of 11.5%. Lead-acid batteries dominate the utility equipment segment by revenue, though Li-ion batteries show a higher 34.4% CAGR due to their low growth base. Residential and commercial energy storage segments are other areas with large market potential of $5.51 billion in 2030, from $1.68 billion in 2021. The industrial sector continues its march toward zero carbon emissions, with companies making net-zero pledges in the next two decades. Telecom and data center companies are at the forefront of reducing carbon emissions with an increased focus on renewable energy power sources. These are key growth areas for Li-ion batteries as companies find ways to ensure reliable backup and grid balancing.

Asia-Pacific will be the largest stationary lithium-ion battery market by 2030, driven by utilities and industries. It will overtake North America and Europe with a market of $7.07 billion in 2030, growing from $1.24 billion in 2021 at a CAGR of 21.3%. North America and Europe will be the next largest markets due to their goals to decarbonize their economies and grid over the next two decades. LATAM will see the highest growth rate at a CAGR of 21.4% because of its smaller size and low base.

Market trends are analyzed for the 2020–2030 period, with the base year as 2021. The market is expected to grow from $5.42 billion in 2021 to $16.36 billion in 2030 at a CAGR of 13.1%. The study covers North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa regions. The study assesses the latest trends across the globe and discusses market growth till 2030. Fierce competition is expected to come from industry participants in Japan, China, and the United States, competing with quality products. Some companies considered in this study are Tesla, LG Chem, Panasonic, Samsung SDI, BYD, and CATL.

Key Issues Addressed:

  • What is the impact of increased RE power generation on Li-ion energy storage?
  • What are the key drivers and restraints for the market?
  • What are the various trends in each region, and how do they influence market growth?
  • What is the competitor landscape?
  • Which are the end-user industry verticals?

Author: Manoj Shankar

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Stationary Lithium-ion Battery Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Key Findings

Scope of Analysis

Definitions

Key Competitors

Key Growth Metrics

Distribution Channels

Growth Drivers

Growth Restraints

Forecast Assumptions

Revenue Forecast

Revenue Forecast by End User

Revenue Forecast by Region

Revenue Forecast Analysis

Revenue Forecast Analysis by End User

Revenue Forecast Analysis by End User (continued)

Revenue Forecast Analysis by End User (continued)

Revenue Forecast Analysis by Region

Revenue Forecast Analysis by Region (continued)

Competitive Environment

Revenue Share

Revenue Share Analysis

Key Growth Metrics for North America

Revenue Forecast

Revenue Forecast by End User

Revenue Forecast Analysis

Key Growth Metrics for Europe

Revenue Forecast

Revenue Forecast by End User

Revenue Forecast Analysis

Revenue Forecast Analysis (continued)

Key Growth Metrics for Asia-Pacific

Revenue Forecast

Revenue Forecast by End User

Revenue Forecast Analysis

Revenue Forecast Analysis (continued)

Key Growth Metrics for Latin America

Revenue Forecast

Revenue Forecast by End User

Revenue Forecast Analysis

Key Growth Metrics for Middle East and Africa

Revenue Forecast

Revenue Forecast by End User

Revenue Forecast Analysis

Growth Opportunity 1: Geographic Expansion

Growth Opportunity 1: Geographic Expansion (continued)

Growth Opportunity 2: New Product Development

Growth Opportunity 2: New Product Development (continued)

Growth Opportunity 3: Second Life for Battery Storage

Growth Opportunity 3: Second Life for Battery Storage (continued)

Your Next Steps

Why Frost, Why Now?

Other Competitors

List of Exhibits

List of Exhibits (continued)

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Related Research
Stationary lithium-ion systems are key components of the energy storage architecture, which fulfill energy storage requirements for utilities, residential, and commercial customers. The global growth of renewable energy installations has increased intermittent energy production, creating an unbalanced grid. This has led to a demand for energy storage solutions to balance the grid during lean times and feed back into the grid during high requirement times. Lead-acid batteries and pumped hydro storage traditionally dominated the market. However, in the past decade, the growing production of Li-ion batteries for the automobile sector has pushed down battery system prices, enabling their deployment in utility-scale, residential, and commercial storage systems. The focus on zero carbon emissions and need to move away from fossil fuels, namely coal, for power production prompt more governments to incentivize solar and wind power installations. These installations lend themselves to battery storage systems that store excess power generated. Government incentives to incentivize Li-ion battery installations also drive deployments across developing economies. Harsh weather conditions also strain existing transmission and distribution infrastructure, leading to extended blackouts and increased demand for energy storage solutions to reduce grid dependence. However, diesel gensets and lead-acid batteries pose major competition to the development of stationary Li-ion battery systems. Utility sector installations are key drivers for battery energy storage systems (BESS). This segment is expected to grow from $2.25 billion in 2021 to $5.99 billion in 2030 at a CAGR of 11.5%. Lead-acid batteries dominate the utility equipment segment by revenue, though Li-ion batteries show a higher 34.4% CAGR due to their low growth base. Residential and commercial energy storage segments are other areas with large market potential of $5.51 billion in 2030, from $1.68 billion in 2021. The industrial sector continues its march toward zero carbon emissions, with companies making net-zero pledges in the next two decades. Telecom and data center companies are at the forefront of reducing carbon emissions with an increased focus on renewable energy power sources. These are key growth areas for Li-ion batteries as companies find ways to ensure reliable backup and grid balancing. Asia-Pacific will be the largest stationary lithium-ion battery market by 2030, driven by utilities and industries. It will overtake North America and Europe with a market of $7.07 billion in 2030, growing from $1.24 billion in 2021 at a CAGR of 21.3%. North America and Europe will be the next largest markets due to their goals to decarbonize their economies and grid over the next two decades. LATAM will see the highest growth rate at a CAGR of 21.4% because of its smaller size and low base. Market trends are analyzed for the 2020–2030 period, with the base year as 2021. The market is expected to grow from $5.42 billion in 2021 to $16.36 billion in 2030 at a CAGR of 13.1%. The study covers North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa regions. The study assesses the latest trends across the globe and discusses market growth till 2030. Fierce competition is expected to come from industry participants in Japan, China, and the United States, competing with quality products. Some companies considered in this study are Tesla, LG Chem, Panasonic, Samsung SDI, BYD, and CATL.--BEGIN PROMO--

Key Issues Addressed:

  • What is the impact of increased RE power generation on Li-ion energy storage
  • What are the key drivers and restraints for the market
  • What are the various trends in each region, and how do they influence market growth
  • What is the competitor landscape
  • Which are the end-user industry verticals

Author: Manoj Shankar

More Information
No Index No
Podcast No
Author Manoj Shankar
Industries Energy
WIP Number MG5E-01-00-00-00
Is Prebook No
GPS Codes 9AFE-A4,9AFF-A4,9B00-A4,9851,9852