Future Prospects of Global Laboratory Proficiency Testing Market

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Laboratory Proficiency Testing Market  The global Laboratory Proficiency Testing Market is estimated to be valued at US$ 1.29 billion in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Laboratory proficiency testing involves evaluating the performance of laboratories for a given scope of testing through inter-laboratory comparisons. It helps assess the quality and competence of laboratories by determining reproducibility and accuracy of test results. Proficiency testing products are used by laboratories to determine method validity and accuracy, and improve testing processes. Market Key Trends: One of the major trends in the laboratory proficiency testing market is the growing number of accredited medical laboratories. Accreditation assures compliance with ISO 15189 and ISO/IEC 17025 standards, which require participation in proficiency testing programs. Acc...
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Stationary Energy Storage Market Share Poised for Significant Growth

Stationary Energy Storage Market
Stationary Energy Storage Market



The global Stationary Energy Storage Market is estimated to be valued at US$ 35.17 Bn in 2022 and is expected to exhibit a 23.64% CAGR over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview:
Stationary energy storage is the storage of energy for later use. These systems can store electricity from renewable sources such as solar and wind farms for cloudy and windless periods. They help reduce emissions and reinforce energy infrastructure. The demand for stationary energy storage is rising owing to benefits like grid stability, load shifting and cost savings.

Market key trends:
The global stationary energy storage market is witnessing significant growth driven by increasing investments in renewable energy integration and energy storage hybridization with conventional power plants. Government incentives promoting clean energy adoption along with growing emphasis on grid modernization across regions are further supplementing the market expansion. Lithium-ion battery storage solutions are gaining popularity due to their scalability, long duration capabilities and modularity. New product launches incorporating advanced chemistries like solid-state batteries are expanding business landscape.

Segment Analysis
The global stationary energy storage market is segmented by technology into lithium-ion battery, lead-acid battery, flow battery, and others. The lithium-ion battery segment dominated the market and accounted for around 45% share of the global market in 2022. Lithium-ion batteries have a higher energy density and lighter in weight compared to lead-acid batteries. They have a relatively long life span and require low maintenance. This makes lithium-ion batteries suitable for stationary storage applications in residential, commercial, and utility segments.

Key Takeaways
The global stationary energy storage market is expected to witness high growth, exhibiting CAGR of 23.64% over the forecast period, due to increasing demand for reliable and clean energy.

The US accounted for the largest share of the global market in 2022 owing to supportive government policies and initiatives to integrate renewable energy into the existing power grid. The Asia Pacific region is expected to grow at the fastest pace during the forecast period due to rapid industrialization and growing investments in grid infrastructure in major economies like China and India.

Key players operating in the stationary energy storage market are Tesla, Duracell Power Center, Durapower Group, Contemporary Amperex Technology Co., Limited (CATL), and Toshiba Corporation. Tesla is a prominent player with its Megapack utility-scale batteries gaining widespread adoption globally. CATL is also expanding its energy storage business aggressively through collaborations and new products.

Read More:

https://www.dailyprbulletin.com/stationary-energy-storage-market-connected-with-stationary-energy-storage-market-experiencing-a-cagr-of-23-64-between-2023-to-2030/

 



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