Lithium-ion Stationary Battery Storage Market Analysis

Lithium-ion Stationary Battery Storage Market Analysis

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The NMC chemistry segment is poised to exhibit a growth rate of around 16% through 2032 driven by increasing acceptance of NMC (nickel manganese cobalt) batteries in solar plus storage deployments. The growing popularity of this product can also be credited to the broad array of benefits associated with it including high efficiency, sustainability, and limited maintenance.
 

The grid services application segment in the lithium-ion stationary battery storage market registered revenue of over USD 19 billion in 2021, owing to rapid industrialization and urbanization. The strong focus on the mitigation of greenhouse gas emissions has also proliferated the use of low-carbon power grid systems in recent years.
 

Furthermore, the rise in deployment of small grids integrating renewable technologies will amplify the demand for stationary energy storage systems including lithium-ion batteries from the grid services segment.
 

European lithium-ion stationary battery storage market size is predicted to witness above 16% gains by 2032 due to the growing preference for clean energy alternatives and favorable reforms on maintaining energy efficiency. Energy companies have also been making investments to support clean energy adoption.
 

For instance, TotalEnergies, an energy company, planned to expand France’s commitment to energy storage systems through the introduction of a 61-MW BESS (battery energy storage system) and two more storage systems. Initiatives such as these will enhance the popularity of stationary Li-ion battery storage in the region.