According to the research report titled ‘Asia Pacific Stationary Battery Storage Market Size By Application, By Battery, Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 - 2027’, available with Market Study Report, Asia Pacific stationary battery storage market is poised to record a healthy CAGR through 2027.
 

Rising environmental awareness along with government efforts for reducing GHG emissions are the primary factors promoting Asia Pacific stationary battery storage market development.  Advancing research & development for innovative clean storage systems and wireless technologies is also spurring the market growth.
 

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Moreover, rapid industrialization requires reliable power supply to assist large scale business operations, especially in developing nations like India and China. In addition to this, rising frequency of power failures is driving the demand for uninterrupted power supply and a reliable grid infrastructure in the region, in turn, is enhancing the sales of high capacity stationary batteries as a backup source.
 

Furthermore, rising adoption of renewable energy sources like solar energy and wind energy are fostering consumer awareness regarding an energy efficient infrastructure. Additionally, rapid digitization will increase penetration of smart devices, stimulating development across the telecommunication sector.
 

Speaking of the application range, Asia Pacific stationary battery storage marketplace is divided into grid services, behind the matter and off grid among others. Based on battery type, the industry is segmented into lithium-ion, lead acid, sodium sulphur and flow battery including others.
 

Among these, flow battery segment is anticipated to expand significantly in the upcoming years. The product demand can be attributed to favorable characteristics like long-life cycle, lower harmful emissions, quick response time, along with absence of flammable electrolytes. Further, reducing battery prices and development of mini grids are bolstering the product sales.
 

Similarly, sodium sulphur segment is also expected to witness considerable adoption on account of the product features like operational stability, improved thermal stability, long battery life, high energy density and enhanced safety prospects.
 

As per the geographical analysis, India is poised to grab a substantial portion of Asia Pacific stationary battery storage industry share over the forecast duration owing to mounting electricity demand and burgeoning population in the country. Also, rising income levels along with improving living standards are enhancing the power consumption and subsequently generating lucrative prospects for businesses operating in this region.
 

Elaborating on the competitive landscape, Furukawa Battery Co. Ltd., Hoppecke Batteries Inc., LG Chem Ltd., GS Yuasa International Ltd., Panasonic Corporation, Koninklijke Philips N.V., Samsung SDI Co. Ltd., Toshiba Corporation, BYD Co. Ltd., Duracell Inc., Exide Technologies LLC, Johnson Controls International plc, Durapower Group, Tesla Inc., Hitachi Chemical Co. Ltd., Narada Power Source Co. Ltd. and Siemens AG. are the top-tier players influencing the Asia Pacific stationary battery storage industry dynamics.