Grid Scale Stationary Battery Storage Market Segmentation:
Battery Segment Analysis
The lithium-ion segment is estimated to gain the largest market share of about 38% in the year 2035, due to the rising awareness level about the advantages of lithium-ion such as its low cost, durability, battery- life, zero maintenance, and others. As a result, the global lithium-ion batteries industry generated almost USD 50 billion in 2022. Also, lithium-ion batteries are being heavily used in electrical products and electronics such as e-bikes, e-vehicles, smartphones, laptops, and others.
Grid Services Segment Analysis
The hospital pharmacies segment is expected to garner a significant share of around 22% in the year 2035, owing to the increased demand for power system flexibility related to power outages or power system failures, which is anticipated to increase the demand for structured systems for launching black start. Furthermore, the increasing investments in the sector for introducing novel solutions are also anticipated to bring in lucrative opportunities for segment growth.
Our in-depth analysis of the global market includes the following segments:
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By Battery |
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By Grid Services |
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