The stationary li-ion battery market to reach over USD 7 billion by 2025, growing at a CAGR of around 13% during the forecast period.
According to the latest Arizton's market research report, the stationary li-ion battery market to reach over USD 7 billion by 2025, growing at a CAGR of around 13% during the forecast period.
Stationary Li-ion battery Market Growth Analysis
Increasing demand for energy storage systems along with rapid urbanization and industrialization across emerging economies will enable the stationary li-ion battery market growth. Players are shifting their manufacturing operations to low-cost countries such as China and Taiwan to enhance profitability and capitalize on growth opportunities in these countries. The introduction of sustainable building codes and standards along with the existing electrical network will encourage the market growth over the next few years. Futuristic inventions in mainstream solar and complementary technologies are likely to boost investor confidence and increase funds for R&D activities in the stationary li-ion battery market.
What’s Trending in the Market?
- Increasing demand from residential households is imperative for high revenues in the stationary li-ion battery market. This can be attributed to the fact that households in affluent neighborhoods will prefer PV installation more than corporates and industrial customers.
- Employing conventional energy storage systems to provide backup defeats the virtue of being a smart building to present opportunities for stationary li-ion batteries.
- At the macro level, the growth of li-ion technology is driven by increasing adoption of photovoltaics and solar energy products in residential and commercial spaces.
- Panasonic has a wide product portfolio and offers li-ion energy storage systems for almost all the requirements in the energy sector.
- Market Size & Forecast by Revenue | 2019−2025
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by end-user and geography
- Competitive Landscape – 5 Key Company Profiles and 17 Other Prominent Vendors
APAC Region is dominating the Global Stationary Li-ion Battery Market
APAC has the highest revenue owing to larger installations in Korea, China, and Japan. Korea is home to one of the largest installations of li-ion ESS. This battery was ordered by Hyundai and is valued at over USD 38 million. The improving economic scenario of the region is likely to support investments in new energy projects with a special focus on renewable energy generation, and presenting growth opportunities for li-ion batteries in the region. The stationary Li-ion battery market in APAC is expected to reach approximately USD 3 billion by 2025. Tremendous economic growth in APAC is vital for the rising demand for energy storage systems in the region. Higher disposable incomes mean not only rising consumption but also imply a growing preference for differentiated and value-added systems and solutions. India is expected to add 60 million households with an annual income of more than USD 6,000 by 2021, thereby raising the propensity of the selection of li-ion based stationary batteries in residential and commercial energy stationary systems.
Strategies Adopted by Players in the Global Stationary Li-ion battery Market
The top five companies in the stationary li-ion battery market are LG Chem, Samsung SDI, BYD, Kokam, and Panasonic. The demand for li-ion batteries for stationary storage will continue to hold strong in third place, leading the demand for li-ion batteries in consumer electronics. Tesla is quickly catching up with the leading companies and is expected to hold a significant share in stationary li-ion battery market by 2025. The growth of players in the stationary li-ion battery market also depends on market conditions, technological innovations, and industry development. By developing safety products for the market, several non-battery manufacturing players is coming up with safety approaches to make lithium-ion batteries much safer. Existing players to expand their market geographically to revive domestic demand for achieving sustained growth. Players are likely to boost profitability by practicing efficient production techniques that will minimise production costs and mitigate associated risks. Samsung SDI has opportunities to offer li-ion stationary batteries for several application areas including residential homes, large offices, and telecom base station, among others. The company’s operation principle and branding strategy can propel the growth of the market during the forecast period.
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