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Lead Acid Stationary Battery Storage Market Size

Report ID: GMI5852
Published Date: May 2023
Report Format: PDF

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Lead Acid Stationary Battery Storage Market Size

Lead Acid Stationary Battery Storage Market size valued at USD 4.2 billion in 2022 and is projected to register at a 24.6% CAGR between 2023 and 2032. On account of rising concerns toward security of supply along with soaring demand for power backup. Developing countries across Africa and Asia Pacific are subjected to recurrent power failures owing to the lack of grid infrastructure, which in turn will fuel the demand for a reliable and efficient source of energy. Fluctuations in energy consumption pattern owing to extreme peak load demand coupled with increasing rural electrification measures will further embellish the business landscape. The global market for stationary battery storage is likely to cross USD 870 billion by 2032.

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Increasing demand for grid stability and electricity coupled with favorable government measures to provide uninterrupted power supply is anticipated to bolster the deployment of lead acid stationary battery storage systems. In addition, renewable energy integration measures implemented by various governments across the globe along with the increasing demand for off grid electricity will further stimulate the demand for lead acid stationary battery storage systems.

Stationary Lead Acid Battery Storage Market Report Attributes
Report Attribute	Details
Base Year:	2022
Stationary Lead Acid Battery Storage Market Size in 2022:	USD 4.2 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	24.6%
2032 Value Projection:	USD 42 Billion
Historical Data for:	2019 to 2022
No. of Pages:	300
Tables, Charts & Figures:	647
Segments covered:	Application
Growth Drivers:	Favorable regulatory framework Growth in the renewable energy sector Decline in battery costs
Pitfalls & Challenges:	Safety concerns

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Lead-acid batteries have an excess of lead and sulfuric acid that cause safety concerns. The acid is highly corrosive and is a carrier for soluble lead & lead particulates. Several countries consider lead acid as hazardous material as it can be a health hazard if not properly handled. Exposure to excessive lead can cause damage to the kidney and brain, hearing impairment, and numerous other associated problems. A single incorrectly disposed lead-acid battery could contaminate 25 tons of municipal solid waste. These harmful environmental are likely to restrict the demand for lead acid stationary battery storage. However, accelerating adoption of renewable energy technologies including solar, wind, among others will significantly provide a business opportunity to the battery manufacturers.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of lead acid stationary battery storage exceeded USD 4.2 billion in 2022 and is anticipated to record more than 24.6% CAGR from 2023 to 2032, says this GMI report.

Lead acid stationary battery storage market size from the grid services segment valued at more than USD 2 billion in 2022 due to the ongoing integration of clean energy systems which has created a need for cost-effective technologies for network synchronization.

Asia Pacific lead acid stationary battery storage market will showcase 29% CAGR from 2023 to 2032 owing to the paradigm shift towards clean energy sources and rural electrification.

Johnson Controls, Exide Industries Ltd., Duracell, Inc., Panasonic Corporation, GS Yuasa International Ltd., Ritar International Group, The Furukawa Battery Co., Ltd., Narada, Siemens, Lockheed Martin Corporation, C&D Technologies, Inc., and ENERSYS.