The global market for Grid-Connected Energy Storage is estimated at US$2.3 Billion in 2023 and is projected to reach US$9.4 Billion by 2030, growing at a CAGR of 21.9% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The expansion of the grid-connected energy storage market is driven by several critical factors. Firstly, the increasing integration of intermittent renewable energy sources necessitates the use of ESS to ensure a constant and reliable energy supply. Technological advancements in ESS, such as improved battery efficiency, lifespan, and cost reductions, are making these systems more economically viable and attractive for widespread grid applications. Regulatory support through government policies, incentives, and mandates is also a significant driver, encouraging the adoption of ESS. Additionally, the growing demands for energy independence and enhanced grid stability, which ESS uniquely provides, are crucial for regions aiming to reduce reliance on external energy supplies and improve grid resilience. The ongoing global efforts towards decarbonization, heightened by the need to reduce carbon emissions and meet international climate goals, further bolster the deployment of ESS. Moreover, the increasing electrification of transportation and industrial sectors presents new challenges for grid management, where ESS plays a vital role in ensuring stability and managing the higher load demands. As urbanization continues and smart grid developments advance, the need for sophisticated energy solutions like ESS becomes more pronounced, highlighting their indispensable role in transitioning to a more sustainable, efficient, and resilient energy future.
The expansion of the grid-connected energy storage market is driven by several critical factors. Firstly, the increasing integration of intermittent renewable energy sources necessitates the use of ESS to ensure a constant and reliable energy supply. Technological advancements in ESS, such as improved battery efficiency, lifespan, and cost reductions, are making these systems more economically viable and attractive for widespread grid applications. Regulatory support through government policies, incentives, and mandates is also a significant driver, encouraging the adoption of ESS. Additionally, the growing demands for energy independence and enhanced grid stability, which ESS uniquely provides, are crucial for regions aiming to reduce reliance on external energy supplies and improve grid resilience. The ongoing global efforts towards decarbonization, heightened by the need to reduce carbon emissions and meet international climate goals, further bolster the deployment of ESS. Moreover, the increasing electrification of transportation and industrial sectors presents new challenges for grid management, where ESS plays a vital role in ensuring stability and managing the higher load demands. As urbanization continues and smart grid developments advance, the need for sophisticated energy solutions like ESS becomes more pronounced, highlighting their indispensable role in transitioning to a more sustainable, efficient, and resilient energy future.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Lithium-Ion Battery-based Grid-Connected Energy Storage segment, which is expected to reach US$7.9 Billion by 2030 with a CAGR of a 21.2%. The Lead Acid Battery-based Grid-Connected Energy Storage segment is also set to grow at 28.0% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $706.4 Million in 2023, and China, forecasted to grow at an impressive 17.7% CAGR to reach $1.1 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Grid-Connected Energy Storage Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Grid-Connected Energy Storage Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Grid-Connected Energy Storage Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as NEC Corporation, LG Electronics Inc., Samsung SDI Co.,Ltd., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 23 Featured):
- NEC Corporation
- LG Electronics Inc.
- Samsung SDI Co.,Ltd.
- Altairnano
- BYD Company Ltd.
- NGK Insulators, Ltd.
- Enerdel Inc.
- Ecoult
- Saft Groupe S.A.
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
REST OF EUROPE
ASIA-PACIFIC
REST OF WORLD
Companies Mentioned
- NEC Corporation
- LG Electronics Inc.
- Samsung SDI Co.,Ltd.
- Altairnano
- BYD Company Ltd.
- NGK Insulators, Ltd.
- Enerdel Inc.
- Ecoult
- Saft Groupe S.A.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 150 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 2.3 Billion |
| Forecasted Market Value ( USD | $ 9.4 Billion |
| Compound Annual Growth Rate | 21.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
