Global Energy Storage Market 2024 by Company, Regions, Type and Application, Forecast to 2030

Global Energy Storage Market 2024 by Company, Regions, Type and Application, Forecast to 2030

According to our (Global Info Research) latest study, the global Energy Storage market size was valued at USD 6098.6 million in 2023 and is forecast to a readjusted size of USD 13050 million by 2030 with a CAGR of 11.5% during review period.

The report analyzes energy storage service market.

In February 2023, the Standardization Administration of China and the National Energy Administration issued the Guidelines on the Construction of New Energy Storage Standard System, which included 205 new energy storage standards. In the 14th Five-Year Plan and the 2035 Vision Target Outline, the energy storage industry, energy storage capacity, energy storage projects have been made requirements. In 2021, China issued the Guiding Opinions on Accelerating the Development of New Energy Storage, which specified a clear path for the development of energy storage industry. According to the data of CEC, the cumulative installed capacity of electrochemical energy storage power stations that put into operation was mainly distributed in the power side, and the total energy is 6.80 GWh, which accounted for 48.40% by the end of 2022.

According to CNESA, by the end of 2022, the cumulative installed capacity of power energy storage projects which has put into operation in the world was 237.2GW, with an annual growth rate of 15%. The cumulative installed capacity of new energy storage reached 45.7GW, which has nearly twice of the same period last year, with an annual growth rate of 80%. The lithium-ion battery occupied an absolute dominant position, with an annual growth rate of more than 85%. The global energy storage market developed rapidly, and the installed capacity of new power energy storage projects is 30.7GW, with a year-on-year growth of 98%. China, Europe and the United States continued to lead the development of the global energy storage market, collectively accounting for 86% of the global market.

According to CNESA statistics, by the end of 2022, the total installed capacity of power energy storage projects put into operation in China was 59.8GW, accounting for 25% of the total global market scale, with an annual growth rate of 38%. The cumulative installed capacity of new energy storage exceeded 10GW for the first time, reaching 13.1GW / 27.1, GWh. And the annual growth rate of power scale reached 128%, while the annual growth rate of energy scale reached 141%. The installed capacity of newly added power energy storage projects in China reached 16.5GW for the first time, among which the new capacity of pumped storage was 9.1GW. Among the new energy storage, lithium-ion battery occupied an absolute dominant position, accounting for 112%.

The Global Info Research report includes an overview of the development of the Energy Storage industry chain, the market status of Residential (Lithium Ion Technology, Lead Acid Technology), Commercial (Lithium Ion Technology, Lead Acid Technology), and key enterprises in developed and developing market, and analysed the cutting-edge technology, patent, hot applications and market trends of Energy Storage.

Regionally, the report analyzes the Energy Storage markets in key regions. North America and Europe are experiencing steady growth, driven by government initiatives and increasing consumer awareness. Asia-Pacific, particularly China, leads the global Energy Storage market, with robust domestic demand, supportive policies, and a strong manufacturing base.

Key Features:

The report presents comprehensive understanding of the Energy Storage market. It provides a holistic view of the industry, as well as detailed insights into individual components and stakeholders. The report analysis market dynamics, trends, challenges, and opportunities within the Energy Storage industry.

The report involves analyzing the market at a macro level:

Market Sizing and Segmentation: Report collect data on the overall market size, including the revenue generated, and market share of different by Type (e.g., Lithium Ion Technology, Lead Acid Technology).

Industry Analysis: Report analyse the broader industry trends, such as government policies and regulations, technological advancements, consumer preferences, and market dynamics. This analysis helps in understanding the key drivers and challenges influencing the Energy Storage market.

Regional Analysis: The report involves examining the Energy Storage market at a regional or national level. Report analyses regional factors such as government incentives, infrastructure development, economic conditions, and consumer behaviour to identify variations and opportunities within different markets.

Market Projections: Report covers the gathered data and analysis to make future projections and forecasts for the Energy Storage market. This may include estimating market growth rates, predicting market demand, and identifying emerging trends.

The report also involves a more granular approach to Energy Storage:

Company Analysis: Report covers individual Energy Storage players, suppliers, and other relevant industry players. This analysis includes studying their financial performance, market positioning, product portfolios, partnerships, and strategies.

Consumer Analysis: Report covers data on consumer behaviour, preferences, and attitudes towards Energy Storage This may involve surveys, interviews, and analysis of consumer reviews and feedback from different by Application (Residential, Commercial).

Technology Analysis: Report covers specific technologies relevant to Energy Storage. It assesses the current state, advancements, and potential future developments in Energy Storage areas.

Competitive Landscape: By analyzing individual companies, suppliers, and consumers, the report present insights into the competitive landscape of the Energy Storage market. This analysis helps understand market share, competitive advantages, and potential areas for differentiation among industry players.

Market Validation: The report involves validating findings and projections through primary research, such as surveys, interviews, and focus groups.

Market Segmentation

Energy Storage market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of value.

Market segment by Type
Lithium Ion Technology
Lead Acid Technology
Sodium Chemistry Technology
Flow Vanadium Technology
Flow Zinc Technology
Others

Market segment by Application
Residential
Commercial
Utility

Market segment by players, this report covers
Duke Energy
E.ON
East Penn Manufacturing
EDF Renewable Energy
Fluence Energy
GE Power
Invenergy
LG Chem
Tesla
ABB
Johnson Controls
SolarEdge
EnerVault

Market segment by regions, regional analysis covers
North America (United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Australia and Rest of Asia-Pacific)
South America (Brazil, Argentina and Rest of South America)
Middle East & Africa (Turkey, Saudi Arabia, UAE, Rest of Middle East & Africa)

The content of the study subjects, includes a total of 13 chapters:

Chapter 1, to describe Energy Storage product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top players of Energy Storage, with revenue, gross margin and global market share of Energy Storage from 2019 to 2024.

Chapter 3, the Energy Storage competitive situation, revenue and global market share of top players are analyzed emphatically by landscape contrast.

Chapter 4 and 5, to segment the market size by Type and application, with consumption value and growth rate by Type, application, from 2019 to 2030.

Chapter 6, 7, 8, 9, and 10, to break the market size data at the country level, with revenue and market share for key countries in the world, from 2019 to 2024.and Energy Storage market forecast, by regions, type and application, with consumption value, from 2025 to 2030.

Chapter 11, market dynamics, drivers, restraints, trends and Porters Five Forces analysis.

Chapter 12, the key raw materials and key suppliers, and industry chain of Energy Storage.

Chapter 13, to describe Energy Storage research findings and conclusion.