The Asia Pacific Energy Storage As A Service Market is expected to witness market growth of 10.9% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific Energy Storage As A Service Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $325.1 million by 2031. The Japan market is expected to witness a CAGR of 10.2% during 2024-2031. Additionally, the India market would register a CAGR of 11.6% during 2024-2031.
Households are adopting ESaaS solutions to reduce reliance on traditional grid power and take advantage of solar energy storage, time-of-use energy pricing, and backup power solutions. Households can store energy during low-cost hours and use it during peak pricing periods. ESaaS provides a reliable power source in areas with frequent power outages. Microgrids and off-grid communities rely on ESaaS for sustainable power solutions. Remote areas without stable grid access can leverage ESaaS for consistent power supply. Energy storage can support disaster-stricken regions with emergency power solutions.
The adoption of energy storage as a service is rising globally, driven by increasing renewable energy deployment, government incentives, and advancements in energy storage technologies. Businesses and households are increasingly seeking ways to reduce electricity expenses. ESaaS allows customers to store energy at low rates and use it during peak hours, significantly reducing energy costs.
India’s construction sites and commercial projects traditionally rely on diesel generators for backup power, which are expensive and polluting. Adopting ESaaS-based battery storage solutions can lower costs, reduce carbon emissions, and improve energy efficiency, making it a preferred choice for developers and contractors. In conclusion, both China and India are rapidly transforming their energy landscapes, with China focusing on scaling renewable energy adoption and India driving construction-led energy storage demand.
The China market dominated the Asia Pacific Energy Storage As A Service Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $325.1 million by 2031. The Japan market is expected to witness a CAGR of 10.2% during 2024-2031. Additionally, the India market would register a CAGR of 11.6% during 2024-2031.
Households are adopting ESaaS solutions to reduce reliance on traditional grid power and take advantage of solar energy storage, time-of-use energy pricing, and backup power solutions. Households can store energy during low-cost hours and use it during peak pricing periods. ESaaS provides a reliable power source in areas with frequent power outages. Microgrids and off-grid communities rely on ESaaS for sustainable power solutions. Remote areas without stable grid access can leverage ESaaS for consistent power supply. Energy storage can support disaster-stricken regions with emergency power solutions.
The adoption of energy storage as a service is rising globally, driven by increasing renewable energy deployment, government incentives, and advancements in energy storage technologies. Businesses and households are increasingly seeking ways to reduce electricity expenses. ESaaS allows customers to store energy at low rates and use it during peak hours, significantly reducing energy costs.
India’s construction sites and commercial projects traditionally rely on diesel generators for backup power, which are expensive and polluting. Adopting ESaaS-based battery storage solutions can lower costs, reduce carbon emissions, and improve energy efficiency, making it a preferred choice for developers and contractors. In conclusion, both China and India are rapidly transforming their energy landscapes, with China focusing on scaling renewable energy adoption and India driving construction-led energy storage demand.
List of Key Companies Profiled
- Siemens Energy AG
- Veolia Environnement S.A.
- Honeywell International Inc.
- Tesla, Inc.
- NextEra Energy, Inc.
- Generac Holdings, Inc.
- Engie SA
- Customized Energy Solutions Ltd.
- SREIL Energy
- Hydrostor Inc.
Market Report Segmentation
By End Use
- Industrial, Residential & Commercial
- Utility
By Service
- Customer Energy Management Services
- Ancillary Services
- Bulk Energy Services
- Transmission Infrastructure Services
- Distribution Infrastructure Services
- Other Service
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Asia Pacific Energy Storage As A Service Market by End Use
Chapter 6. Asia Pacific Energy Storage As A Service Market by Service
Chapter 7. Asia Pacific Energy Storage As A Service Market by Country
Chapter 8. Company Profiles
Companies Mentioned
- Siemens Energy AG
- Veolia Environnement S.A.
- Honeywell International Inc.
- Tesla, Inc.
- NextEra Energy, Inc.
- Generac Holdings, Inc.
- Engie SA
- Customized Energy Solutions Ltd.
- SREIL Energy
- Hydrostor Inc.
Methodology
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