The Energy Storage Market size is estimated at USD 51.10 billion in 2024, and is expected to reach USD 99.72 billion by 2029, growing at a CAGR of 14.31% during the forecast period (2024-2029).
The outbreak of COVID-19 had a negative effect on the market. Currently, the market has reached pre-pandemic levels.
The energy storage market is fragmented. The key players in this market market (in no particular order) include GS Yuasa Corporation, Contemporary Amperex Technology Co. Limited, UniEnergy Technologies, LLC, BYD Co. Ltd, and Clarios.
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