Growing demand for renewable sources of energy and favorable government policies are expected to drive market expansion shortly at a CAGR of 28.30% during the forecast period 2023 to 2032

Market Research Future (MRFR) has published on the “Global Stationary Energy Storage Market”.

The Stationary Energy Storage Market is estimated to register a CAGR of 28.30% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Stationary Energy Storage Market— Tesla, Durapower, Exide Technologies, Toshiba Corporation, Panasonic Corporation, Samsung SDI, Duracell, Johnson Controls, Philips, and Hoppecke Batteries

Market Highlights

The global Stationary Energy Storage Market is accounted to register a CAGR of 28.30% during the forecast period and is estimated to reach USD 322.15 billion by 2032.

The Stationary Energy Storage Market is poised for growth, primarily due to the increasing utilization of renewable energy sources, which necessitates energy storage solutions to address intermittency challenges. Additionally, the electrification of vehicles presents opportunities for energy storage to enhance grid stability.

Segment Analysis

The global Stationary Energy Storage Market has been segmented based on Battery, Type of Energy Storage, and Application.

Based on Battery, the market is segmented into Lithium Ion, Sodium Sulphur, Lead Acid, and Flow Battery. The lithium-ion segment was attributed to holding the largest market share in 2022.  Lithium-ion batteries represent the predominant and favored stationary storage solution in the market. These batteries offer compelling advantages, including cost-effectiveness, impressive energy density, durability, and the capability to deliver sustained power over extended periods.

Based on the Type of Energy Storage, the Stationary Energy Storage Market has been segmented into Hydrogen and Ammonia Storage, Compressed Air Energy Storage, Gravitational Energy Storage, Liquid Air Storage, and Thermal Energy Storage. The Hydrogen and Ammonia Storage segment was expected to hold the largest market share in 2022. In stationary applications, unlike in mobile scenarios, hydrogen density is not a limiting factor. Stationary applications encompass various methods of storing hydrogen, including compressed hydrogen in dedicated tanks, liquid hydrogen stored in cryogenic tanks, and slush hydrogen within cryogenic tanks.

Based on the Application, the Stationary Energy Storage Market has been segmented into Grid Services, Behind the Meter. The Grid Services segment was attributed to holding the largest market share in 2022. A stationary energy storage device serves the purpose of storing and releasing electricity as required. A typical Stationary Energy Storage system comprises a battery array, an electronic control system, an inverter, and a thermal management system. The collection of methods employed to store substantial amounts of energy within a power grid is known as system energy storage. This approach involves storing excess electrical energy during periods of abundance and low-cost electricity, often generated by intermittent sources like wind, tidal, and solar power. Subsequently, this stored energy is reintegrated into the grid during high-demand periods when electricity prices are elevated.

Regional Analysis

The global Stationary Energy Storage Market, based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America consists of the US and Canada. The Europe Stationary Energy Storage Market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Stationary Energy Storage Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Stationary Energy Storage Market comprises of Middle East, Africa, and Latin America.

The largest market share for the Stationary Energy Storage Market was maintained by the North American regional sector. The growing deployment of large-scale renewable energy installations in the United States is a significant driver. As the country invests more in renewable energy sources like solar and wind, there is a pressing need for effective conversion and off-grid power storage solutions.

Moreover, the Europe market has been persistently growing over the forecast period. The market is expected to develop significantly over the next several years, mostly due to supportive government programmes and regulations designed to lower carbon emissions. Additionally, the ongoing integration of clean energy systems, such as solar and wind, necessitates cost-effective technologies to ensure seamless synchronization across various networks.

The Asia Pacific Stationary Energy storage market is poised for expansion, primarily due to a focus on rural electrification and infrastructure development initiatives. A notable example is the launch of the largest sustainability program for rural areas in India by TP Renewable Microgrid in December 2021. These initiatives are expected to enhance consumer awareness regarding efficient power storage and subsequently drive demand for stationary storage battery systems.

Furthermore, the rest of the world's Stationary Energy Storage Market is divided into the Middle East, Africa, and Latin America. These regions have experienced a significant increase in energy demand due to population growth, urbanization, and industrialization. As the electricity demand continues to rise, there is a greater need for reliable and efficient energy storage systems to ensure a stable power supply.

Key Findings of the Study

• The global Stationary Energy Storage Market is expected to reach USD 322.15 billion by 2032, at a CAGR of 28.30% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market because the governments in the APAC region are increasingly focused on transitioning to cleaner and more sustainable energy systems.


• Based on Battery, the Lithium-Ion segment was attributed to holding the largest market in 2022, with an approximate market share of 55–60%.


• Tesla, Durapower, Duracell, Toshiba Corporation, Panasonic Corporation, Exide Technologies, Samsung SDI, Johnson Controls, Philips and Hoppecke Batteries