Stationary Battery Storage Market to grow at 17% CAGR from 2018-2030 Stationary Battery Storage Market | Page 2

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.
UK Stationary Battery Storage Market Size, By Battery, 2017, 2024 & 2030 (USD
Billion)
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