Grid scale stationary battery storage market is expected to grow at a robust rate through 2032, primarily owing to the decreasing cost of batteries. Besides, increasing investment by both public and private entities toward industrial development and renewable resource generation will also create a powerful incentive to continue supporting various battery technologies.

In addition, the demand for renewables integrated with grids is growing steadily, which is influencing the demand for grid scale stationary battery storage systems. Besides, some of the major power-consuming countries are looking for numerous alternative energy-efficient technologies to avoid the adverse impacts of emission-related norms. Hence, these countries are investing in initiatives to promote the use of energy management systems. All these factors will cumulatively fuel the demand for grid scale stationary battery storage systems through the estimated timespan.

Overall, the grid scale stationary battery storage market has been bifurcated in terms of battery, application, and region.

In terms of battery, the grid scale stationary battery storage market is likely to be characterized by the lithium-ion segment. Since the average density of such batteries is 100-265 Wh/kg or 250/670 Wh/L, they find applications in a wide range of products, which will fuel the market demand for lithium-ion batteries. This would boost the segmental expansion.

In the context of application, the grid scale stationary battery storage market is likely to be defined through the frequency regulation segment, which held 82% market share in 2022. A battery energy storage system is a highly reliable solution for improving the overall frequency deviation. Increasing renewable penetration, coupled with the changes in market rules that have lowered the barrier for batteries, is anticipated to create significant opportunities for this segment.

In the regional context, the grid scale stationary battery storage market in North America is expected to grow at a steady pace through the estimated timespan. In 2022, the region witnessed 7.2 GW worth of installation. Besides, there is an increasing requirement for reliable and efficient battery technologies, especially for stationary applications, which are used to support the advancement of grid infrastructure across the region. This factor is likely to fuel the industry growth across the region between 2023 and 2032.

Some of the well-known players in the grid scale stationary battery storage market include Tesla, Johnson Controls, BYD, TOSHIBA CORPORATION, Samsung SDI Co., Ltd., Panasonic Corporation, LG Chem Ltd., Narada Power Source Co. Ltd., Siemens, Lockheed Martin Corporation, GS Yuasa International Ltd., CMBlu Energy AG, JenaBatteries GmbH, SCHMID Group, Invinity Energy Systems, Durapower Group, and Exide Technologies.