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Europe Lithium-Ion Stationary Battery Storage Market Trends

Report ID: GMI6203
Published Date: Jul 2023
Report Format: PDF

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Europe Lithium-Ion Stationary Battery Storage Market Trends

The increasing demand for efficient and reliable energy storage technologies to support grid structures will escalate the growth of the lithium-ion stationary battery storage market in Europe. The need for flexible and scalable energy storage solutions is becoming increasingly important on account of increasing investments from European countries in renewable energy sources and efforts towards achieving their energy transition goals. Ongoing energy efficiency reforms and a growing concern for energy security are set to drive market share.

The Energy Efficiency Directive 2012/27/EU, enacted by the European Commission, provides a framework for standardizing energy systems and enhancing the potential of energy storage technologies, thereby supporting the penetration of these solutions across the region. These investments are aimed at enhancing grid stability, improving energy efficiency, and supporting the integration of intermittent renewable energy sources. Moreover, continuous infrastructure investments in the region coupled with the exponential growth in electricity demand will further provide a favorable business scenario.

Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The market size of Europe lithium-ion stationary battery storage was valued at USD 19.7 billion in 2022 and will grow at a CAGR of over 16.9% through 2032, owing to the intermittent nature of renewable energy sources that create demand for energy storage systems.

The NMC segment accounted for more than USD 11 billion in 2022 as NMC battery storage systems play a crucial role in grid stabilization and management by allowing frequency regulation, voltage control, and peak shaving capabilities.

The Germany lithium-ion stationary battery storage market held approximately 30% of the market share in 2022 and will continue to grow through 2032, owing to the ambitious goals to transition towards a low-carbon and sustainable energy nation.

Johnson Controls, Panasonic Corporation, Tesla, Toshiba Corporation, SAMSUNG SDI CO., LTD., Koninklijke Philips N.V., Hitachi Energy Ltd., LG Chem, Siemens Energy, HOPPECKE Batterien GmbH & Co. KG, and VARTA AG among others.