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Asia Pacific Lithium-Ion Stationary Battery Storage Market Trends

Report ID: GMI8821
Published Date: Apr 2024
Report Format: PDF

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Asia Pacific Lithium-Ion Stationary Battery Storage Market Trends

The Asia Pacific region is witnessing a notable surge in energy demand to support its growing manufacturing and industrial sectors. Additionally, the enforcement of stringent emission standards has spurred the widespread uptake of renewable energy technologies, accompanied by the integration of locally sourced lithium-ion stationary battery storage systems within utility and manufacturing facilities. Rising consumer awareness and the swift decline in technology costs have further fueled the proliferation of energy storage system installations in both commercial and residential environments.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

Asia Pacific market for Li-on stationary battery storage was reached USD 18.6 billion in 2023 and is set to grow at 23.1% CAGR up to 2032, driven by efforts to reach energy transition objectives.

The NMC chemistry segment in the Asia Pacific stationary battery storage market held a strong growth rate in 2023 and is set to cross USD 45 billion by 2032, owing to its constant and reliable power supply.

China lithium-ion stationary battery storage industry held a decent market share in 2023 and is set to reach over USD 75 billion by 2032, driven by favorable policies and initiatives.

BYD Company Ltd., Contemporary Amperex Technology Co Ltd., Exide Technologies, GS Yuasa International Ltd, Hitachi Energy Ltd., HOPPECKE Batterien GmbH & Co. KG, Johnson Controls, LG Energy Solution and Panasonic Corporation among others.