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Europe Stationary Battery Storage Market Size

Report ID: GMI7053
Published Date: Oct 2023
Report Format: PDF

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Europe Stationary Battery Storage Market Size

Europe Stationary Battery Storage Market was valued at USD 24.3 billion in 2022 and is projected to grow at a CAGR of 19.7% from 2023 to 2032. Continual reforms aimed at improving energy efficiency and the increasing focus on energy security will significantly boost business expansion. The European Commission's Energy Efficiency Directive 2012/27/EU, which paves the way for standardizing current and emerging energy systems, is set to enhance the potential of the battery storage technology industry, creating opportunities for business growth

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Strict government regulations pertaining to the decarbonization along with adoption of energy-efficient sustainable technology will propel the industry size worldwide. The increasing federal, state, and local initiatives pertaining to battery storage systems coupled with the integration of fuel-efficient technologies will augment the business growth.

Europe Stationary Battery Storage Market Report Attributes
Report Attribute	Details
Base Year:	2022
Europe Stationary Battery Storage Market Size in 2022:	USD 24.3 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	19.7%
2032 Value Projection:	USD 153.7 Billion
Historical Data for:	2019 to 2022
No. of Pages:	220
Tables, Charts & Figures:	393
Segments covered:	Battery, Application
Growth Drivers:	Favorable regulatory framework Positive outlook towards renewable energy sector Decline in battery costs
Pitfalls & Challenges:	Safety concerns

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Lead-acid batteries present safety concerns due to their excess of lead and sulfuric acid. The acid is highly corrosive and serves as a carrier for soluble lead and lead particulates. Many countries classify lead-acid batteries as hazardous materials because improper handling can pose health hazards. Overexposure to lead can result in kidney and brain damage, hearing impairment, and various other associated health issues. It's noteworthy that a single improperly disposed lead-acid battery has the potential to contaminate up to 25 tons of municipal solid waste. These adverse environmental and health effects associated with lead-acid batteries are likely to restrain the demand for stationary battery storage systems.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market valuation of stationary battery storage in Europe was worth USD 24.3 billion in 2022 and is projected to expand at 19.7% CAGR from 2023 to 2032, driven by the continual reforms aimed at improving energy efficiency and the increasing focus on energy security.

Europe stationary battery storage market from the lead acid segment generated more than USD 950 million in 2022 and is poised to showcase at notable CAGR from 2023 to 2032, due to the maturation of its technological aspects and the emergence of alternative storage technologies.

Germany accounted for more than 28.1% revenue share of the stationary battery storage industry in 2022 in and is expected to witness steady growth through 2032, owing to the ongoing transition towards renewable energy sources.

Some major stationary battery storage companies in Europe are Tesla, Durapower Group, Johnson Controls, Exide Technologies, Duracell, Inc., Toshiba Corporation Samsung SDI Co., Ltd., Panasonic Corporation, LG Energy Solutions, Siemens Energy, and many others.