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Lead Acid Stationary Battery Storage Market Trends

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

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Lead Acid Stationary Battery Storage Market Trends

Stationary Lead Acid Stationary Battery Storage Market Size, By Region, 2021 – 2032, (USD Million)

nable 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. The government of Germany has announced various subsidies and incentives to boost the development of renewable energy schemes in line with the EEG. The EEG incentivize electric storage facilities and provide exemptions to levies and grid tariffs only if the electricity is supplied back to the main grid.

Furthermore, the update in EEG norms has allowed more customers to levy exemptions and benefits for self-supply of stored electricity and for loss of energy. The decreasing costs of renewable energy sources like solar and wind power are expected to lead to increased investment and a greater proportion of renewable energy in the global energy mix.

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.