Transportation's share of the ESS market will be dominant, worth some $7.4bn by 2015, according to the Boston-based group, accounting for almost 29GWh of a 31GWh demand.
But boosted by China's "aggressive deployment" of renewables, stationary storage such as industrial-scale batteries, though only totaling 2.3GWh, will grow at a much faster 30% CAGR.
"Besides understanding the market dynamics and producing cost-competitive products, most players in these markets will require strong partnerships to succeed," says Lux research associate Lilia Xie.
