US and Asia Pacific Battery Energy Storage System Market Size and Forecast (2021 - 2031), Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Lithium Ion and Others), Connection Type (On-Grid and Off-Grid), End User (Commercia

The US and Asia Pacific Battery Energy Storage System Market size was valued at US$ 15.45 billion in 2023 and is expected to reach US$ 98.23 billion by 2031. The US and Asia Pacific Battery Energy Storage System Market is estimated to record a CAGR of 26.01% from 2023 to 2031.

The US and Asia Pacific Battery Energy Storage System Market is segmented into the US and Asia Pacific. Battery energy storage system capacity in the US and Asia Pacific has been rising since 2021, owing to the rise in government initiatives and investments in renewable power generation, along with the expansion of microgrids and battery energy storage systems (BESS) capacity across countries such as the US, China, and India. In addition, the US has been experiencing unpredictable or bad weather conditions for the last 4 to 5 years, which has affected power grid reliability and resulted in power outages in the country. These insufficient power supplies have increased the demand for BESS, which is expected to benefit the utility grid in maintaining reliable and stable power during peak demand and power outages while maintaining power charges to its consumers. Furthermore, Texas and California are increasingly expanding their solar and wind energy capacity, resulting in growing BESS capacity in the country. As per the US Energy Information Administration (EIA), in current projects under construction or planning phase, Texas will surpass California's cumulative battery energy storage capacity in 2026, and the BESS capacity in Texas is expected to grow at a significant pace. This rise is attributed to the increase in investment in the development of renewable power projects in the region.

Based on end users, the US and Asia Pacific Battery Energy Storage System Market is segmented into residential, commercial, and utilities. Utility-scale battery storage is also known as large-scale battery storage or grid battery storage. These enable the transition to a global energy mix that includes an increased share of renewable energy generation. Utility-scale battery energy storage systems (BESS) enable greater penetration of variable renewable power into the grid by storing excess energy generated and smoothing energy output during capacity hardening. Combined with renewable energy producers such as wind, hydro, or solar photovoltaic (PV) energy, BESS unlocks the full potential of renewable power by providing more reliable and far more cost-effective electricity on isolated and off-grid networks.

BYD Co. Ltd; Saft America Inc.; CATL; Tesla Inc.; Samsung SDI Co Ltd; Panasonic Holdings Corp; AES Corp; NextEra Energy, Inc.; Ameresco Inc.; ESS, Inc.; Siemens AG; EOS Energy Enterprises Inc.; KORE Power Inc.; General Electric Co; LG Chem Ltd.; SAFT Groupe SA; and ESS Inc. are among the prominent players profiled in the US and Asia Pacific Battery Energy Storage System Market report. Several other major players were also studied and analyzed in the US and Asia Pacific Battery Energy Storage System Market report to get a holistic view of the market and its ecosystem.

The overall The US and Asia Pacific Battery Energy Storage System Market share has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the US and Asia Pacific Battery Energy Storage System Market. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the US and Asia Pacific Battery Energy Storage System Market.

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