Global Energy Storage System Market

Energy Storage System Comprehensive Study by Type (On-Grid Energy Storage Systems, Off-Grid Energy Storage Systems), Application (Grid storage, Transportation), End user (Residential, Non residential, Utilities) Players and Region - Global Market Outlook to 2030

Energy Storage System Market by XX Submarkets | Forecast Years 2024-2030 | CAGR: 15%  

Access Sample Report Make An Enquiry Before Purchase
  • Summary
  • Market Segments
  • Table of Content
  • List of Table & Figures
  • Players Profiled
Industry Background:
Over the last century, the Energy Storage Industry has continued to evolve and adapt to changing Energy Requirements and Advances in the Technology. Energy Storage Systems are equipment that can efficiently and conveniently store multiple forms of energy and can be utilized as per requirement, for example lithium ion batteries. It also provides a wide array of technological approaches to manage power supply in order to create a more resilient energy infrastructure and bring cost savings to utilities and consumers.

AttributesDetails
Study Period2018-2030
Base Year2023
UnitValue (USD Million)
Key Companies ProfiledLG Chem Ltd. (South Korea), ABB Ltd. (Switzerland), AES Energy Storage, LLC (United States), Beacon Power, LLC (United States), BYD Company Ltd. (China), Convergent Energy and Power Inc. (United States), Greensmith Energy Management Systems (United States), Eos Energy Storage (United States), Seeo, Inc. (United States), S&C Electric Company, Scheider Electric SE (France), SMA Solar Technology AG (Germany), Exide Industries Ltd.(India), SK Holdings.(South Korea), Autobat SACI (Argentina) and Enerbrax Acumuladores Ltd. (Brazil)


According to AMA, the market for Energy Storage System is expected to register a CAGR of 15.0% during the forecast period to 2030. This growth is primarily driven by Increasing adoption of Energy Storage System in transportation, Rising adoption of Renewable Energy Sources, Decreasing cost of Lithium Ion batteries and Incorporation of software integration for the management of Energy Storage System.

Globally, a noticeable market trend is evident Growing demand for Energy Storage Systems due to pollution associated with traditional energy sources. The Energy & Resources sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as LG Chem Ltd. (South Korea), ABB Ltd. (Switzerland), AES Energy Storage, LLC (United States), Beacon Power, LLC (United States), BYD Company Ltd. (China), Convergent Energy and Power Inc. (United States), Greensmith Energy Management Systems (United States), Eos Energy Storage (United States), Seeo, Inc. (United States), S&C Electric Company, Scheider Electric SE (France), SMA Solar Technology AG (Germany), Exide Industries Ltd.(India), SK Holdings.(South Korea), Autobat SACI (Argentina) and Enerbrax Acumuladores Ltd. (Brazil), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The market appears to be fragmented with a large number of local and global players who are competing with one another in the Global Energy Storage Systems market. The market is also witnessing the foray of new players wanting to cash in on the unmet demands of consumers. Players are focusing on product development and strategic mergers and acquisitions. For instance, In February 2018, JLM Energy deployed more than 2000 Phazr Micro Storage units and is successfully managing the residential time of use for customers in three utilities in California. Phazer is a distributed energy storage platform. It pairs a single solar panel with a battery pack in a one-on-one ratio. They are also enhancing their distribution networks to steal a march over their competitors.

Key Developments in the Market:

In February 2023, Sonnen unveiled its eco 10 home battery system, offering increased capacity and improved efficiency. This caters to the growing demand for larger residential storage solutions.

Influencing Trend:
Growing demand for Energy Storage Systems due to pollution associated with traditional energy sources.

Market Growth Drivers:
Increasing adoption of Energy Storage System in transportation, Rising adoption of Renewable Energy Sources, Decreasing cost of Lithium Ion batteries and Incorporation of software integration for the management of Energy Storage System

Challenges:
Lack of standardization and outdated regulatory policies with emerging technologies is posing a challenge for the market.

Restraints:
High capital investment needed for establishing Storage Systems may hamper the growth of the market.

Opportunities:
Increasing focus on rural electrification worldwide by the Government and Rising spotlight on the production of renewable energy source due to increasing energy consumption at a global level.

AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.

Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Energy Storage System Market
- Analysis about New Entrants in Energy Storage System Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators

Against this Challenging Backdrop, Energy Storage System Study Sheds Light on
— The Energy Storage System Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Energy Storage System industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
— Where Energy Storage System industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
— How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.

Report Objectives / Segmentation Covered

By Type
  • On-Grid Energy Storage Systems
  • Off-Grid Energy Storage Systems
By Application
  • Grid storage
  • Transportation
By End user
  • Residential
  • Non residential
  • Utilities

By Regions
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Taiwan
    • Australia
    • Rest of Asia-Pacific
  • Europe
    • Germany
    • France
    • Italy
    • United Kingdom
    • Netherlands
    • Rest of Europe
  • MEA
    • Middle East
    • Africa
  • North America
    • United States
    • Canada
    • Mexico
  • 1. Market Overview
    • 1.1. Introduction
    • 1.2. Scope/Objective of the Study
      • 1.2.1. Research Objective
  • 2. Executive Summary
    • 2.1. Introduction
  • 3. Market Dynamics
    • 3.1. Introduction
    • 3.2. Market Drivers
      • 3.2.1. Increasing adoption of Energy Storage System in transportation
      • 3.2.2. Rising adoption of Renewable Energy Sources
      • 3.2.3. Decreasing cost of Lithium Ion batteries
      • 3.2.4. Incorporation of software integration for the management of Energy Storage System
    • 3.3. Market Challenges
      • 3.3.1. Lack of standardization and outdated regulatory policies with emerging technologies is posing a challenge for the market.
    • 3.4. Market Trends
      • 3.4.1. Growing demand for Energy Storage Systems due to pollution associated with traditional energy sources.
  • 4. Market Factor Analysis
    • 4.1. Porters Five Forces
    • 4.2. Supply/Value Chain
    • 4.3. PESTEL analysis
    • 4.4. Market Entropy
    • 4.5. Patent/Trademark Analysis
  • 5. Global Energy Storage System, by Type, Application, End user and Region (value) (2018-2023)
    • 5.1. Introduction
  • 6. Energy Storage System: Manufacturers/Players Analysis
    • 6.1. Competitive Landscape
      • 6.1.1. Market Share Analysis
        • 6.1.1.1. Top 3
        • 6.1.1.2. Top 5
    • 6.2. Peer Group Analysis (2023)
    • 6.3. BCG Matrix
    • 6.4. Company Profile
      • 6.4.1. LG Chem Ltd. (South Korea)
        • 6.4.1.1. Business Overview
        • 6.4.1.2. Products/Services Offerings
        • 6.4.1.3. Financial Analysis
        • 6.4.1.4. SWOT Analysis
      • 6.4.2. ABB Ltd. (Switzerland)
        • 6.4.2.1. Business Overview
        • 6.4.2.2. Products/Services Offerings
        • 6.4.2.3. Financial Analysis
        • 6.4.2.4. SWOT Analysis
      • 6.4.3. AES Energy Storage, LLC (United States)
        • 6.4.3.1. Business Overview
        • 6.4.3.2. Products/Services Offerings
        • 6.4.3.3. Financial Analysis
        • 6.4.3.4. SWOT Analysis
      • 6.4.4. Beacon Power, LLC (United States)
        • 6.4.4.1. Business Overview
        • 6.4.4.2. Products/Services Offerings
        • 6.4.4.3. Financial Analysis
        • 6.4.4.4. SWOT Analysis
      • 6.4.5. BYD Company Ltd. (China)
        • 6.4.5.1. Business Overview
        • 6.4.5.2. Products/Services Offerings
        • 6.4.5.3. Financial Analysis
        • 6.4.5.4. SWOT Analysis
      • 6.4.6. Convergent Energy and Power Inc. (United States)
        • 6.4.6.1. Business Overview
        • 6.4.6.2. Products/Services Offerings
        • 6.4.6.3. Financial Analysis
        • 6.4.6.4. SWOT Analysis
      • 6.4.7. Greensmith Energy Management Systems (United States)
        • 6.4.7.1. Business Overview
        • 6.4.7.2. Products/Services Offerings
        • 6.4.7.3. Financial Analysis
        • 6.4.7.4. SWOT Analysis
      • 6.4.8. Eos Energy Storage (United States)
        • 6.4.8.1. Business Overview
        • 6.4.8.2. Products/Services Offerings
        • 6.4.8.3. Financial Analysis
        • 6.4.8.4. SWOT Analysis
      • 6.4.9. Seeo, Inc. (United States)
        • 6.4.9.1. Business Overview
        • 6.4.9.2. Products/Services Offerings
        • 6.4.9.3. Financial Analysis
        • 6.4.9.4. SWOT Analysis
      • 6.4.10. S&C Electric Company
        • 6.4.10.1. Business Overview
        • 6.4.10.2. Products/Services Offerings
        • 6.4.10.3. Financial Analysis
        • 6.4.10.4. SWOT Analysis
      • 6.4.11. Scheider Electric SE (France)
        • 6.4.11.1. Business Overview
        • 6.4.11.2. Products/Services Offerings
        • 6.4.11.3. Financial Analysis
        • 6.4.11.4. SWOT Analysis
      • 6.4.12. SMA Solar Technology AG (Germany)
        • 6.4.12.1. Business Overview
        • 6.4.12.2. Products/Services Offerings
        • 6.4.12.3. Financial Analysis
        • 6.4.12.4. SWOT Analysis
      • 6.4.13. Exide Industries Ltd.(India)
        • 6.4.13.1. Business Overview
        • 6.4.13.2. Products/Services Offerings
        • 6.4.13.3. Financial Analysis
        • 6.4.13.4. SWOT Analysis
      • 6.4.14. SK Holdings.(South Korea)
        • 6.4.14.1. Business Overview
        • 6.4.14.2. Products/Services Offerings
        • 6.4.14.3. Financial Analysis
        • 6.4.14.4. SWOT Analysis
      • 6.4.15. Autobat SACI (Argentina)
        • 6.4.15.1. Business Overview
        • 6.4.15.2. Products/Services Offerings
        • 6.4.15.3. Financial Analysis
        • 6.4.15.4. SWOT Analysis
      • 6.4.16. Enerbrax Acumuladores Ltd. (Brazil)
        • 6.4.16.1. Business Overview
        • 6.4.16.2. Products/Services Offerings
        • 6.4.16.3. Financial Analysis
        • 6.4.16.4. SWOT Analysis
  • 7. Global Energy Storage System Sale, by Type, Application, End user and Region (value) (2025-2030)
    • 7.1. Introduction
  • 8. Appendix
    • 8.1. Acronyms
  • 9. Methodology and Data Source
    • 9.1. Methodology/Research Approach
      • 9.1.1. Research Programs/Design
      • 9.1.2. Market Size Estimation
      • 9.1.3. Market Breakdown and Data Triangulation
    • 9.2. Data Source
      • 9.2.1. Secondary Sources
      • 9.2.2. Primary Sources
    • 9.3. Disclaimer
List of Tables
  • Table 1. Company Basic Information, Sales Area and Its Competitors
  • Table 2. Company Basic Information, Sales Area and Its Competitors
  • Table 3. Company Basic Information, Sales Area and Its Competitors
  • Table 4. Company Basic Information, Sales Area and Its Competitors
  • Table 5. Company Basic Information, Sales Area and Its Competitors
  • Table 6. Company Basic Information, Sales Area and Its Competitors
  • Table 7. Company Basic Information, Sales Area and Its Competitors
  • Table 8. Company Basic Information, Sales Area and Its Competitors
  • Table 9. Company Basic Information, Sales Area and Its Competitors
  • Table 10. Company Basic Information, Sales Area and Its Competitors
  • Table 11. Company Basic Information, Sales Area and Its Competitors
  • Table 12. Company Basic Information, Sales Area and Its Competitors
  • Table 13. Company Basic Information, Sales Area and Its Competitors
  • Table 14. Company Basic Information, Sales Area and Its Competitors
  • Table 15. Company Basic Information, Sales Area and Its Competitors
  • Table 16. Company Basic Information, Sales Area and Its Competitors
  • Table 17. Research Programs/Design for This Report
  • Table 18. Key Data Information from Secondary Sources
  • Table 19. Key Data Information from Primary Sources
List of Figures
  • Figure 1. Porters Five Forces
  • Figure 2. Supply/Value Chain
  • Figure 3. PESTEL analysis
  • Figure 4. Global Energy Storage System share by Players 2023 (%)
  • Figure 5. Global Energy Storage System share by Players (Top 3) 2023(%)
  • Figure 6. Global Energy Storage System share by Players (Top 5) 2023(%)
  • Figure 7. BCG Matrix for key Companies
  • Figure 8. LG Chem Ltd. (South Korea) Revenue, Net Income and Gross profit
  • Figure 9. LG Chem Ltd. (South Korea) Revenue: by Geography 2023
  • Figure 10. ABB Ltd. (Switzerland) Revenue, Net Income and Gross profit
  • Figure 11. ABB Ltd. (Switzerland) Revenue: by Geography 2023
  • Figure 12. AES Energy Storage, LLC (United States) Revenue, Net Income and Gross profit
  • Figure 13. AES Energy Storage, LLC (United States) Revenue: by Geography 2023
  • Figure 14. Beacon Power, LLC (United States) Revenue, Net Income and Gross profit
  • Figure 15. Beacon Power, LLC (United States) Revenue: by Geography 2023
  • Figure 16. BYD Company Ltd. (China) Revenue, Net Income and Gross profit
  • Figure 17. BYD Company Ltd. (China) Revenue: by Geography 2023
  • Figure 18. Convergent Energy and Power Inc. (United States) Revenue, Net Income and Gross profit
  • Figure 19. Convergent Energy and Power Inc. (United States) Revenue: by Geography 2023
  • Figure 20. Greensmith Energy Management Systems (United States) Revenue, Net Income and Gross profit
  • Figure 21. Greensmith Energy Management Systems (United States) Revenue: by Geography 2023
  • Figure 22. Eos Energy Storage (United States) Revenue, Net Income and Gross profit
  • Figure 23. Eos Energy Storage (United States) Revenue: by Geography 2023
  • Figure 24. Seeo, Inc. (United States) Revenue, Net Income and Gross profit
  • Figure 25. Seeo, Inc. (United States) Revenue: by Geography 2023
  • Figure 26. S&C Electric Company Revenue, Net Income and Gross profit
  • Figure 27. S&C Electric Company Revenue: by Geography 2023
  • Figure 28. Scheider Electric SE (France) Revenue, Net Income and Gross profit
  • Figure 29. Scheider Electric SE (France) Revenue: by Geography 2023
  • Figure 30. SMA Solar Technology AG (Germany) Revenue, Net Income and Gross profit
  • Figure 31. SMA Solar Technology AG (Germany) Revenue: by Geography 2023
  • Figure 32. Exide Industries Ltd.(India) Revenue, Net Income and Gross profit
  • Figure 33. Exide Industries Ltd.(India) Revenue: by Geography 2023
  • Figure 34. SK Holdings.(South Korea) Revenue, Net Income and Gross profit
  • Figure 35. SK Holdings.(South Korea) Revenue: by Geography 2023
  • Figure 36. Autobat SACI (Argentina) Revenue, Net Income and Gross profit
  • Figure 37. Autobat SACI (Argentina) Revenue: by Geography 2023
  • Figure 38. Enerbrax Acumuladores Ltd. (Brazil) Revenue, Net Income and Gross profit
  • Figure 39. Enerbrax Acumuladores Ltd. (Brazil) Revenue: by Geography 2023
List of companies from research coverage that are profiled in the study
  • LG Chem Ltd. (South Korea)
  • ABB Ltd. (Switzerland)
  • AES Energy Storage, LLC (United States)
  • Beacon Power, LLC (United States)
  • BYD Company Ltd. (China)
  • Convergent Energy and Power Inc. (United States)
  • Greensmith Energy Management Systems (United States)
  • Eos Energy Storage (United States)
  • Seeo, Inc. (United States)
  • S&C Electric Company
  • Scheider Electric SE (France)
  • SMA Solar Technology AG (Germany)
  • Exide Industries Ltd.(India)
  • SK Holdings.(South Korea)
  • Autobat SACI (Argentina)
  • Enerbrax Acumuladores Ltd. (Brazil)
Additional players considered in the study are as follows:
Eguana Technologies (Canada) , Redflow Ltd. (Australia) , Imergy Power Systems (United States) , Ionotec Ltd. (United Kingdom) , Tata power (India)
Select User Access Type

Key Highlights of Report


Feb 2024 243 Pages 51 Tables Base Year: 2023 Coverage: 15+ Companies; 18 Countries

Request Sample Pages

Budget constraints? Get in touch with us for special pricing


Check Discount Now
Global Energy Storage System Market Quantitative research analysis
Global Energy Storage System Market Qualitative Industry Analysis
DOWNLOAD SAMPLE PDF

Talk to Our Experts

Want to Customize Study?


"We employ Market statistics, Industry benchmarking, Patent analysis, and Technological Insights to derive requirements and provide customize scope of work."

Make an Enquiry Now

Frequently Asked Questions (FAQ):

Top performing companies in the Global Energy Storage System market are LG Chem Ltd. (South Korea), ABB Ltd. (Switzerland), AES Energy Storage, LLC (United States), Beacon Power, LLC (United States), BYD Company Ltd. (China), Convergent Energy and Power Inc. (United States), Greensmith Energy Management Systems (United States), Eos Energy Storage (United States), Seeo, Inc. (United States), S&C Electric Company, Scheider Electric SE (France), SMA Solar Technology AG (Germany), Exide Industries Ltd.(India), SK Holdings.(South Korea), Autobat SACI (Argentina) and Enerbrax Acumuladores Ltd. (Brazil), to name a few.
North America is dominating the Energy Storage System Market.
"Lack of standardization and outdated regulatory policies with emerging technologies is posing a challenge for the market." is seen as one of the major challenges by many Industry Players of Energy Storage System Market
The Energy Storage System market study includes a random mix of players, including both market leaders and some top growing emerging players. Connect with our sales executive to get complete companies available in our research coverage.
The Energy Storage System market is expected to see a steady growth rate during projected year 2023 to 2030.

Know More About Global Energy Storage System Market Report?

Have a Query? Click Here

Other Related Reports

Next-Generation Data Storage Comprehensive Study by Type (Direct-Attached Storage, Network-Attached Storage (NAS), Cloud Storage, Unified Storage, Storage Area Network (SAN), Software-Defined Storage...
$ 3800
Pure Biodiesel Comprehensive Study by Application (Industrial Fuels, Chemical Industry, Others), Source (Vegetable oil ( Edible oil, Non Edible oil), Animal fat, Biomass), Blend (B100, B20, B10, B5)...
$ 3500
Thin-film Batteries Comprehensive Study by Voltage (Below 1.5V, 1.5V to 3V, Above 3V), Application (Renewable energy storage devices, Smart cards, RFID tags, Implantable Medical Devices, Wireless S...
$ 3800
AGM Batteries Comprehensive Study by Type (2–4, 6–8, Above 12 Volts), Application (Aircraft, Automotive, Marine, UPS, Telecom, Others) Players and Region - Global Market Outlook to 2027
$ 3500
Energy Efficient Windows Comprehensive Study by Type (Double Glazing, Double Low-E, Double Gas-Filled, Double Low-E Gas-Filled, Triple Glazing, Triple Low-E, Triple Gas-Filled, Triple Low-E Gas-Fille...
$ 3650
Flexible Solar Panel Comprehensive Study by Type (Copper Indium Gallium Selenide (CIGS), Amorphous Silicon (a-Si)), Application (Commercial, Residential, Mobile), Distribution Channel (Online Retail,...
$ 3500