Asia Pacific Stationary Battery Storage Market to Witness the Highest Growth Globally in Coming Years 2021-2027

Asia Pacific stationary battery storage market size is expected to grow substantially through 2027. There is a rising awareness towards green environment coupled with ongoing governmental efforts to reduce the GHG emissions. Several research & development activities are undertaken to develop innovative large-scale clean storage systems and wireless technologies, which is expected to proliferate the stationary battery storage industry outlook through the forecast timeline.

Rapid industrialisation demands reliable power networks to facilitate large scale business operations, especially in developing countries in Asia Pacific, such as India and China. Increase in the frequency of power outages is fuelling the demand for uninterrupted energy supply and reliable power grid infrastructure. Stationary batteries of high capacity are installed as a key source of power backup for providing stability to the electric grid, and providing resilient energy supply during outages, steering market growth.

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Several emerging Asian economies have witnessed lack of a stable power grid infrastructure and frequent power outages across the region. Moreover, the growing adoption of renewable energy sources including wind energy and solar energy are channelling consumer awareness towards an energy efficient infrastructure.
 
These factors will further accelerate the demand across stationary battery storage industry forecast beyond 2027. Rapid digitalization will lead to increased penetration of smart devices, fuelling development across telecommunication industry.


India is anticipated to hold a major share of Asia Pacific stationary battery storage market up to 2027 due to the surging demand for electricity, coupled with increasing population in the country. For instance, according to the Indian Ministry of Statistics and Programme Implementation (MoSPI), the total electricity consumed during 2017-18 was estimated at 1,130,244 GWh, which increased by 6.51% compared to the previous year.
 
Additionally, growing incomes as well as improving standards of living of residents across the country will further enhance the power consumption, offering opportunities for the Asia Pacific stationary battery storage market across the nation.
 
Flow batteries will gain market demand across the region due to their long cycle life. Quick response time, low rate of harmful emissions, and absence of flammable electrolytes are few of the key features boosting the product penetration. Additionally, development of mini grids as well as declining prices of batteries will fuel deployment across stationary battery storage market.
 
Sodium sulphur battery-based storage systems are expected to witness significant adoption across 2021-2027, considering their product features such as enhanced temperature stability and operational stability, high energy density, long battery lifetime, and improved safety prospects. These factors are anticipated to complement the technology adoption.
 
 
Narada Power Source Co. Ltd., Siemens AG, Furukawa Battery Co. Ltd, Panasonic Corporation, Hitachi Chemical Co. Ltd., Duracell, Inc., Exide Technologies, and Toshiba Corporation are the major companies outlining Asia Pacific stationary battery storage market dynamics.
 
Table of Contents (ToC) of the report:

Chapter 1   Methodology & Scope
1.1    Research methodology
1.2    List of data sources
1.2.1    Primary
1.2.2    Secondary

Chapter 2   Market Snapshot
2.1    Asia Pacific stationary battery storage market snapshot

Chapter 3   Asia Pacific Stationary Battery Storage Market Trends
3.1    Industry coverage
3.2    Industry size & forecast, 2017 – 2027
3.3    Value chain analysis
3.3.1    Company product snapshot
3.4    Innovation Landscape
3.5    COVID-19 impact on the industry outlook
3.6    Regulatory norms & directives
3.7    Drivers & restraints
3.7.1    Market drivers
3.7.2    Market restraints
3.8    Industry analysis - Porter's
3.9    Product growth mapping
3.10    Competitive benchmarking, 2020
3.10.1    Strategy dashboard
3.11    PEST Analysis

 
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