MEA Stationary Battery Storage Market

MEA Stationary Battery Storage Market Overview

Energy storage is a storage device that is designed for accepting electrical energy from the grid and then converting it into that energy form, which is suitable for storage. High capacities batteries are used for grid stability as a backup source to offer uninterrupted power supply in case of emergency or during a power outage. Stationary battery storage is used in several applications such as emergency power, local energy storage, uninterrupted power supply (UPS), and other types of applications.

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Major MEA Stationary Battery Storage Market Drivers

Rising demand for energy efficient power network, expansion of communication network, increasing technological advancements, strong demand for the lithium-ion technology in the renewable energy industry, favorable government initiatives related to clean energy generation, and the upcoming mega projects such as Sodium sulfur plant in Abu Dhabi are some of the major factors accelerating the growth of MEA stationary battery storage market. Batteries hold a key to the transition from fossil fuel dependence. Lithium-ion batteries are major energy storage in off-grid renewable energy. They are considered as a primary choice for energy storage due to their longer life span as compared to other technologies. In comparison to other high-quality rechargeable batteries, lithium-ion batteries have a high energy density and deliver large amounts of current for high power applications. They are also considered low maintenance and do not require scheduled cycling for maintenance of batter life. Thus, these batteries are considered for the renewable energy industry for multiple purposes, such as for electric vehicles, for storage of solar and wind energy, and for storage of off-grid renewable energy. Therefore, the rising demand for lithium-ion technology in renewable energy industry is boosting the growth of the market in MEA.

Within few years, MEA region has witnessed a rapid increase in population and economy, which has surged the demand for power and energy. Thus, the countries in the region are focusing on development of renewable and interconnected energy networks, which enables cross border power exchange to fulfil energy demand. Moreover, the government of the region is focusing on reliable and cost-effective power supply for multiple applications, which further boosts the growth of the market in MEA.

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On the basis of battery, the market is segmented into lithium-ion, sodium sulphur, advanced lead acid, flow batteries, and others. Among these, the sodium sulphur batteries would witness a higher CAGR during the forecast period due to its improved energy stability feature across ancillary services including, microgrids and distribution & transmission network. Moreover, the enhanced benefits of product such as lower cost, stability, safe operation, and energy-efficient density, is further boosting the growth of the segment.

Based on the application, the market is segmented into emergency power, communication base station, local energy storage, remote relay station, uninterruptible power supplies (UPS). Among these, the local energy storage would witness a higher CAGR during the forecast period owing to the increasing adoption of renewable energy such as wind and solar energy coupled with rising government investment to meet high energy demand in the region.

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Regional – Segment Analysis

Based on the country, the UAE would lead the market during the forecast period owing to the increasing government investments in smart grid, smart city projects, and rising focus of government toward energy management and wireless technologies. For instance, in 2019, Dubai installed more than 200,000 meters as a part of the Smart Applications via Smart Grid and Meters.

Top Market Players

The key players in the market include ABB Ltd, LG Chem Ltd., NEC Corporation, SAMSUNG SDI CO., LTD., Panasonic Corporation, GE Company, AEG Power Solutions BV, Hitachi Ltd., Siemens AG, and The NGK Spark Plug Co., Ltd.

Segments covered in the Report:

The MEA stationary battery storage market has been segmented on the basis of battery, application, and countries. Based on the battery, the market is segmented into lithium-ion, sodium sulphur, lead acid, flow batteries, others. Based on the application, the market is segmented into emergency power, communication base station, local energy storage, remote relay station, uninterruptible power supplies (UPS)).

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Key questions answered in this research report:

• • At what pace is MEA stationary battery storage market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in MEA stationary battery storage market? What will be the impact of drivers and restraints in the future?
  • Which battery generated maximum revenues in 2019 and identify the most promising battery during the forecast period?
  • What are the various types of applications of MEA stationary battery storage market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation:

MEA Stationary Battery Storage Market by   Battery

• • Lithium-ion
  • Sodium Sulphur
  • Lead Acid
  • Flow Batteries
  • Others

MEA Stationary Battery Storage Market by Application

• • Grid Service
  • Behind the Grid
  • Off Grid

  MEA Stationary Battery Storage Market by Countries

• • UAE Stationary Battery Storage Market All-Up (Option 1: Free 25% Customization)
  • Saudi Stationary Battery Storage Market All-Up (Option 2: Free 25% Customization)
  • Oman Stationary Battery Storage Market All-Up (Option 3: Free 25% Customization)
  • Kuwait Stationary Battery Storage Market All-Up (Option 4: Free 25% Customization)
  • Rest of MEA Stationary Battery Storage Market All-Up (Option 5: Free 25% Customization)

MEA Stationary Battery Storage Leading Market Players (Option 6: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • ABB Ltd
  • LG Chem Ltd.
  • NEC Corporation
  • SAMSUNG SDI CO., LTD.
  • Panasonic Corporation
  • GE Company
  • AEG Power Solutions BV
  • Hitachi Ltd.
  • Siemens AG
  • The NGK Spark Plug Co., Ltd.