by The global energy storage market size was estimated to be around US$ 44.7 billion in 2022. It is projected to reach US$ 167.90 billion by 2032, indicating a CAGR of 14.20% from 2023 to 2032.
Key Takeaways
- Asia Pacific contributed more than 45% of revenue share in 2022.
- North America is estimated to expand the fastest CAGR between 2023 and 2032.
- By Type, the pumped-storage hydroelectricity (psh) segment has held the largest market share of 35% in 2022.
- By Type, the others segment is anticipated to grow at a remarkable CAGR of 15.1% between 2023 and 2032.
- By Application, the commercial and industrial segment generated over 56% of revenue share in 2022.
- By Application, the residential segment is expected to expand at the fastest CAGR over the projected period
The market research report on the Energy storage market provides a comprehensive analysis of various key aspects. It includes the definition, classification, and application of Energy storage products. The report examines the development trends, competitive landscape, and industrial chain structure within the industry. Furthermore, it presents an overview of the industry, analyzes national policies and planning, and offers insights into the latest market dynamics and opportunities at a global level.
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Energy Storage Market Scope
| Report Coverage | Details |
| Growth Rate from 2023 to 2032 | CAGR of 14.20% |
| Market Size in 2023 | USD 50.82 Billion |
| Market Size by 2032 | USD 167.90 Billion |
| Largest Market | Asia-Pacific |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | By Type and By Application |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
Read More: Food Fortification Market Size to Garner USD 224.01 Billion by 2032
The report presents the volume and value-based market size for the base year 2022 and forecasts the market’s growth between 2023 and 2032. It estimates market numbers based on product form and application, providing size and forecast for each application segment in both global and regional markets.
Focusing on the global Energy storage market, the report highlights its status, future forecasts, growth opportunities, key market players, and key market regions such as the United States, Europe, and China. The study aims to present the development of the Energy storage market by considering factors like Year-on-Year (Y-o-Y) growth, in addition to Compound Annual Growth Rate (CAGR). This approach enables a better understanding of market certainty and the identification of lucrative opportunities.
Regarding production, the report investigates the capacity, production, value, ex-factory price, growth rate, and market share of major manufacturers, regions, and product types. On the consumption side, the report focuses on the regional consumption of Energy storage products across different countries and applications.
Buyers of the report gain access to verified market figures, including global market size in terms of revenue and volume. The report provides reliable estimations and calculations for global revenue and volume by product type from 2023 to 2032. It also includes accurate figures for production capacity and production by region during the same period.
The research includes product parameters, production processes, cost structures, and data classified by region, technology, and application. Furthermore, it conducts SWOT analysis and investment feasibility studies for new projects.
This in-depth research report offers valuable insights into the Energy storage market. It employs an objective and fair approach to analyze industry trends, supporting customer competition analysis, development planning, and investment decision-making. The project received support and assistance from technicians and marketing personnel across various links in the industry chain.
The competitive landscape section of the report provides detailed information on Energy storage market competitors. It includes company overviews, financials, revenue generation, market potential, research and development investments, new market initiatives, global presence, production sites, production capacities, strengths and weaknesses, product launches, product range, and application dominance. However, the data points provided only focus on the companies’ activities related to the Energy storage market.
Prominent players in the market are expected to face tough competition from new entrants. Key players are targeting acquisitions of startup companies to maintain their dominance. The report
Reasons to Purchase this Report:
- Comprehensive market segmentation analysis incorporating qualitative and quantitative research, considering the impact of economic and policy factors.
- In-depth regional and country-level analysis, examining the demand and supply dynamics that influence market growth.
- Market size in USD million and volume in million units provided for each segment and sub-segment.
- Detailed competitive landscape, including market share of major players, recent projects, and strategies implemented over the past five years.
- Comprehensive company profiles encompassing product offerings, key financial information, recent developments, SWOT analysis, and employed strategies by major market players.
Energy Storage Market Players
- Tesla
- LG Chem
- BYD
- Panasonic
- AES Energy Storage
- Fluence
- Siemens
- ABB
- Saft
- ESS Inc.
- NEC Energy Solutions
- Samsung SDI
- Sunrun
- Green Charge
- Enel X
Market Segmentations
By Type
- Batteries
- Pumped-storage Hydroelectricity (PSH)
- Thermal Energy Storage (TES)
- Flywheel Energy Storage (FES)
- Other Types
By Application
- Residential
- Commercial and Industrial
- Distribution
- Transmission
- Other
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Energy Storage Market
5.1. COVID-19 Landscape: Energy Storage Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Energy Storage Market, By Type
8.1. Energy Storage Market, by Type, 2023-2032
8.1.1. Batteries
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Pumped-storage Hydroelectricity (PSH)
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Thermal Energy Storage (TES)
8.1.3.1. Market Revenue and Forecast (2020-2032)
8.1.4. Flywheel Energy Storage (FES)
8.1.4.1. Market Revenue and Forecast (2020-2032)
8.1.5. Other Types
8.1.5.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Energy Storage Market, By Application
9.1. Energy Storage Market, by Application, 2023-2032
9.1.1. Residential
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Commercial and Industrial
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Distribution
9.1.3.1. Market Revenue and Forecast (2020-2032)
9.1.4. Transmission
9.1.4.1. Market Revenue and Forecast (2020-2032)
9.1.5. Others
9.1.5.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Energy Storage Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Type (2020-2032)
10.1.2. Market Revenue and Forecast, by Application (2020-2032)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Type (2020-2032)
10.1.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Type (2020-2032)
10.1.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Type (2020-2032)
10.2.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Type (2020-2032)
10.2.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Type (2020-2032)
10.2.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Type (2020-2032)
10.2.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Type (2020-2032)
10.2.6.2. Market Revenue and Forecast, by Application (2020-2032)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Type (2020-2032)
10.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Type (2020-2032)
10.3.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Type (2020-2032)
10.3.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Type (2020-2032)
10.3.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Type (2020-2032)
10.3.6.2. Market Revenue and Forecast, by Application (2020-2032)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Type (2020-2032)
10.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Type (2020-2032)
10.4.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Type (2020-2032)
10.4.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Type (2020-2032)
10.4.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Type (2020-2032)
10.4.6.2. Market Revenue and Forecast, by Application (2020-2032)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Type (2020-2032)
10.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Type (2020-2032)
10.5.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Type (2020-2032)
10.5.4.2. Market Revenue and Forecast, by Application (2020-2032)
Chapter 11. Company Profiles
11.1. Tesla
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. LG Chem
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. BYD
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Panasonic
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. AES Energy Storage
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Fluence
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Siemens
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. ABB
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Saft
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. ESS Inc.
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
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