Stationary Energy Storage Market

Stationary Energy Storage Market Overview

The global Stationary Energy Storage Market size was valued at USD 88.04 billion in 2023 and is predicted to reach USD 282.28 billion by 2030 with a CAGR of 21.6% from 2024-2030. 

The static energy storage market is driven by the factors including increase in demand for electricity, increase in solar power production, and innovation in grid integration. The factors restraining the market include the initial high cost of grid-scale energy storage.
On the other hand, the consolidation of battery management systems forms market opportunities. Moreover, the market players like Tesla, Inc., Contemporary Amperex Technology Co., and others are pursuing different strategies to remain leaders in the market and build it with newest innovations.

The Increase in Electricity Demand Fuels Market Expansion

The increasing demand for electricity fuels the stationary energy storage market growth due to growing requirement for efficient power management and grid stability. This increased power consumption compels utilities to implement energy storage solutions to control peak loads and provide a reliable supply. 

According to the latest report published by the Ember, the global electricity demand rose from 26,654.8 TWh in 2020 to 29,479 TWh in 2023, i.e., a rise of 10.6% over a period of 3 years. The increasing electricity demand reflects the urgent role played by energy storage in meeting future energy needs and providing a stable, resilient infrastructure.

Expansion of Solar Power Generation Spurs the Stationary Energy Storage Market Demand

The growing generation of solar power drives the market growth as energy storage solutions become a necessity in managing variable supply of energy. According to the most recent report issued by the Energy Institute - Statistical Review of World Energy, solar power generation across the world grew from 853.37 TWh in 2020 to 1,629.9 TWh in 2023, with a growth of 91% over a period of 3 years. Growth in solar power generation enhances the requirement for static energy storage in order to utilize solar energy effectively and provide a steady power supply.

Technological Advancements in Grid Integration Drive the Market Growth

Technology development such as novel grid integration drives the market growth by enhancing energy storage systems efficiency and effectiveness. The innovations assist in maximizing the control of energy circulation and guarantee that the renewable sources of energy are integrated smoothly into the grid. 

Schneider Electric introduced a new battery energy storage system for microgrids in April 2024. The system harvests energy from many sources and stores it in recoverable batteries to be utilized later. The innovations deliver the market more system efficiency and reliability.

High Upfront Cost Hinders the Stationary Energy Storage Market Expansion

The high initial costs associated with battery energy storage system significantly restrain market growth. The substantial investment required for equipment and installation deters small enterprises for adopting these systems, hindering overall market expansion.

BMS Integration is Expected to Develop Market Opportunity

Batteries management system (BMS) integration within stationary energy storage is anticipated to generate sufficient business opportunities for market growth by maximizing battery efficiency, increasing running lifespans, and ensuring safety through active monitoring and controlling of battery wellness in real-time.

Market Segmentations and Scope of the Study

The stationary energy storage market report is segmented on the basis of battery type, energy storage capacity, application, end users, and region. On the basis of battery type, the market is segmented into lithium ion, lead acid, sodium sulphur, flow battery, and others. On the basis of energy storage capacity, the market is divided into less than 1 MWh, 1 MWh to 10 MWh, 10 MWh to 100 MWh, and more than 100 MWh. Based on application the market is divided into, renewable integration, backup power, grid services, microgrids, and others. On the basis of end users, the market is classified into residential, commercial, and industrial. The regional breakdown includes regions such as North America, Europe, Asia-Pacific, and the Rest of the World (RoW). 

Geographical Analysis

North America dominates the stationary energy storage market share, and it is expected to do so during the forecast period as well. It is due to growing solar power production in the region requires efficient solutions for energy storage. 

The Energy Institute report shows U. S. solar power production rose from 93. 4 TWh in 2018 to 238. 1 TWh in 2023. This increase in the production of solar energy further prompts the necessity of energy storage in supporting the transition to renewable energy and maintaining grid stability.

In addition, the existence of the major market players such as FlexGen Power Systems, Inc., Tesla, Inc., and others spurs the surge in the market with the introduction of new technologies and solutions to make the performance more efficient in the region.

For example, in September of 2024, FlexGen introduced HybridOS V12, the latest release of its battery energy storage systems management software. The AI-based platform launches new functionality designed to reduce downtime and enhance availability for battery systems. These types of innovations are driving market growth while facilitating the overall transition toward clean energy solutions.

Conversely, Asia-Pacific shows consistent growth in the market for stationary energy storage due to increasing electricity demand that requires energy storage systems to even out peaks and provide a guaranteed energy supply. 

According to the latest report by Ember, electricity demand rose from 14,276. 0 TWh in 2019 to 16,236. 2 TWh in 2023, a 13. 7% increase in 4 years. This growing need highlights the importance of strong energy storage facilities for a reliable energy supply.

Additionally, the market share of electric cars is compelling demand for the energy storage to absorb peak charging currents and level loads on the grid. According to the International Energy Agency, sales of electric cars in China amounted to 8.1 million units in 2023 and 6 million units in 2022 with a growth of 35%. Boost in electric car sales increases the requirement for energy storage to accommodate the increasing charging stations and provide an uninterrupted supply of energy.

Competitive Landscape

The stationary energy storage industry comprises of various market players such as Tesla, Inc., Contemporary Amperex Technology Co., Limited, Fluence Energy Inc., Samsung SDI Co., Ltd., Siemens Energy AG, GE Vernova Inc., Toshiba Corporation, Rimac Group Ltd., Hithium Energy Storage Technology Co., Ltd., Durapower Group, LG Electronics, BYD, Honeywell International Inc., Mitsubishi Electric Power Products, Inc., NGK INSULATORS, LTD., and others. These market players continue to adopt various market development strategies including product launch to maintain their dominance in the market.

For instance, Hithium initiated a battery energy storage system (BESS) project in July 2024 constructing a giant step towards renewable energy infrastructure. The project aims to ensure energy reliability and help integrate renewable sources into the grid. 

Moreover, Rimac Technology launched Rimac Energy in May 2024, focusing on stationary energy storage systems for clean energy. The project uses Rimac's electric vehicle technology for advanced performance and safety in ESS.

Key Benefits

• The report provides quantitative analysis and estimations of the stationary energy storage industry from 2025 to 2030, which assists in identifying the prevailing market opportunities.

• The study comprises a deep-dive analysis of the current and future stationary energy storage market trends to depict prevalent investment pockets in the market.

• Information related to key drivers, restraints, and opportunities and their impact on the stationary energy storage industry is provided in the report. 

• Competitive analysis of the players, along with their market share is provided in the report.

• SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of roles of stakeholders.

Stationary Energy Storage Market Key Segments

By Battery Type

• Lithium Ion

• Lead Acid

• Sodium Sulphur

• Flow Battery 

• Others

By Energy Storage Capacity

• Less than 1 MWh

• 1 MWh to 10 MWh

• 10 MWh to 100 MWh

• More than 100 MWh

By Application

• Renewable Integration

• Backup Power

• Grid Services

• Microgrids

• Others

By End User

• Residential

• Commercial

• Industrial 

By Region

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France    

  • Italy

  • Spain

  • Denmark

  • Netherlands

  • Finland

  • Sweden

  • Norway

  • Russia

  • Rest of Europe

• Asia-Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia-Pacific

• RoW

  • Latin America

  • Middle East

  • Africa

Key Players

• Tesla, Inc.

• Contemporary Amperex Technology Co., Limited

• Fluence Energy Inc

• Samsung SDI Co., Ltd.

• Siemens Energy AG

• GE Vernova Inc.

• Toshiba Corporation

• Rimac Group Ltd.

• Hithium Energy Storage Technology co., Ltd.

• Durapower Group

• LG Electronics

• BYD

• Honeywell International Inc.

• Mitsubishi Electric Power Products, Inc. 

• NGK INSULATORS, LTD.

REPORT SCOPE AND SEGMENTATION: 

Parameters	Details
Market Size in 2024	USD 88.04 Billion
Revenue Forecast in 2030	USD 282.28 Billion
Growth Rate	CAGR of 21.6% from 2025 to 2030
Analysis Period	2024–2030
Base Year Considered	2024
Forecast Period	2025–2030
Market Size Estimation	Billion (USD)
Growth Factors	The rising electricity demand drives the growth of the market. The increasing solar power generation fuels the market growth. Technological advancements including innovative grid integration propels the market expansion.
Countries Covered	28
Companies Profiled	15
Market Share	Available for 10 companies
Customization Scope	Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.