Global Smart Grid Storage Technologies Market Growth (Status and Outlook) 2024-2030

Global Smart Grid Storage Technologies Market Growth (Status and Outlook) 2024-2030

The smart grid storage technology refers to the method used to store electricity on a large scale with integration of smart grid system.

The global Smart Grid Storage Technologies market size is projected to grow from US$ million in 2023 to US$ million in 2030; it is expected to grow at a CAGR of % from 2024 to 2030.

LPI (LP Information)' newest research report, the “Smart Grid Storage Technologies Industry Forecast” looks at past sales and reviews total world Smart Grid Storage Technologies sales in 2023, providing a comprehensive analysis by region and market sector of projected Smart Grid Storage Technologies sales for 2024 through 2030. With Smart Grid Storage Technologies sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Smart Grid Storage Technologies industry.

This Insight Report provides a comprehensive analysis of the global Smart Grid Storage Technologies landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Smart Grid Storage Technologies portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Smart Grid Storage Technologies market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Smart Grid Storage Technologies and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Smart Grid Storage Technologies.

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 147%.

This report presents a comprehensive overview, market shares, and growth opportunities of Smart Grid Storage Technologies market by product type, application, key players and key regions and countries.

Segmentation by type
Lead-Acid Storage Technologies
Sulphur Storage Technologies
Lithium-Ion Storage Technologies
Supercapacitors Storage Technologies
Flow Wheel Storage Technologies
Others

Segmentation by application
Power Utilities
Independent Power Producers (IPPs)
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Beacon Power
Altairnano
Ice Energy
Xtreme Power
ABB Ltd
Samsung SDI Energy
Sumitomo
GE Energy Storage
PolyPlus Battery Company
Highview Power Storage

Please note: The report will take approximately 2 business days to prepare and deliver.