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Global Energy Storage Market Research Report 2024
Synopsis
The report analyzes energy storage service market.
The global Energy Storage market was valued at US$ 5927 million in 2023 and is anticipated to reach US$ 12960 million by 2030, witnessing a CAGR of 12.0% during the forecast period 2024-2030.
In February 2023, the Standardization Administration of China and the National Energy Administration issued the Guidelines on the Construction of New Energy Storage Standard System, which included 205 new energy storage standards. In the 14th Five-Year Plan and the 2035 Vision Target Outline, the energy storage industry, energy storage capacity, energy storage projects have been made requirements. In 2021, China issued the Guiding Opinions on Accelerating the Development of New Energy Storage, which specified a clear path for the development of energy storage industry. According to the data of CEC, the cumulative installed capacity of electrochemical energy storage power stations that put into operation was mainly distributed in the power side, and the total energy is 6.80 GWh, which accounted for 48.40% by the end of 2022.
According to CNESA, by the end of 2022, the cumulative installed capacity of power energy storage projects which has put into operation in the world was 237.2GW, with an annual growth rate of 15%. The cumulative installed capacity of new energy storage reached 45.7GW, which has nearly twice of the same period last year, with an annual growth rate of 80%. The lithium-ion battery occupied an absolute dominant position, with an annual growth rate of more than 85%. The global energy storage market developed rapidly, and the installed capacity of new power energy storage projects is 30.7GW, with a year-on-year growth of 98%. China, Europe and the United States continued to lead the development of the global energy storage market, collectively accounting for 86% of the global market.
According to CNESA statistics, by the end of 2022, the total installed capacity of power energy storage projects put into operation in China was 59.8GW, accounting for 25% of the total global market scale, with an annual growth rate of 38%. The cumulative installed capacity of new energy storage exceeded 10GW for the first time, reaching 13.1GW / 27.1, GWh. And the annual growth rate of power scale reached 128%, while the annual growth rate of energy scale reached 141%. The installed capacity of newly added power energy storage projects in China reached 16.5GW for the first time, among which the new capacity of pumped storage was 9.1GW. Among the new energy storage, lithium-ion battery occupied an absolute dominant position, accounting for 112%.
This report aims to provide a comprehensive presentation of the global market for Energy Storage, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Energy Storage.
Report Scope
The Energy Storage market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Energy Storage market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Energy Storage companies, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
Duke Energy
E.ON
East Penn Manufacturing
EDF Renewable Energy
Fluence Energy
GE Power
Invenergy
LG Chem
Tesla
ABB
Johnson Controls
SolarEdge
EnerVault
Segment by Type
Lithium Ion Technology
Lead Acid Technology
Sodium Chemistry Technology
Flow Vanadium Technology
Flow Zinc Technology
Others
Segment by Application
Residential
Commercial
Utility
By Region
North America
United States
Canada
Europe
Germany
France
UK
Italy
Russia
Nordic Countries
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Detailed analysis of Energy Storage companies’ competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6, 7, 8, 9, 10: North America, Europe, Asia Pacific, Latin America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 11: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 12: The main points and conclusions of the report.
The report analyzes energy storage service market.
The global Energy Storage market was valued at US$ 5927 million in 2023 and is anticipated to reach US$ 12960 million by 2030, witnessing a CAGR of 12.0% during the forecast period 2024-2030.
In February 2023, the Standardization Administration of China and the National Energy Administration issued the Guidelines on the Construction of New Energy Storage Standard System, which included 205 new energy storage standards. In the 14th Five-Year Plan and the 2035 Vision Target Outline, the energy storage industry, energy storage capacity, energy storage projects have been made requirements. In 2021, China issued the Guiding Opinions on Accelerating the Development of New Energy Storage, which specified a clear path for the development of energy storage industry. According to the data of CEC, the cumulative installed capacity of electrochemical energy storage power stations that put into operation was mainly distributed in the power side, and the total energy is 6.80 GWh, which accounted for 48.40% by the end of 2022.
According to CNESA, by the end of 2022, the cumulative installed capacity of power energy storage projects which has put into operation in the world was 237.2GW, with an annual growth rate of 15%. The cumulative installed capacity of new energy storage reached 45.7GW, which has nearly twice of the same period last year, with an annual growth rate of 80%. The lithium-ion battery occupied an absolute dominant position, with an annual growth rate of more than 85%. The global energy storage market developed rapidly, and the installed capacity of new power energy storage projects is 30.7GW, with a year-on-year growth of 98%. China, Europe and the United States continued to lead the development of the global energy storage market, collectively accounting for 86% of the global market.
According to CNESA statistics, by the end of 2022, the total installed capacity of power energy storage projects put into operation in China was 59.8GW, accounting for 25% of the total global market scale, with an annual growth rate of 38%. The cumulative installed capacity of new energy storage exceeded 10GW for the first time, reaching 13.1GW / 27.1, GWh. And the annual growth rate of power scale reached 128%, while the annual growth rate of energy scale reached 141%. The installed capacity of newly added power energy storage projects in China reached 16.5GW for the first time, among which the new capacity of pumped storage was 9.1GW. Among the new energy storage, lithium-ion battery occupied an absolute dominant position, accounting for 112%.
This report aims to provide a comprehensive presentation of the global market for Energy Storage, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Energy Storage.
Report Scope
The Energy Storage market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Energy Storage market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Energy Storage companies, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
Duke Energy
E.ON
East Penn Manufacturing
EDF Renewable Energy
Fluence Energy
GE Power
Invenergy
LG Chem
Tesla
ABB
Johnson Controls
SolarEdge
EnerVault
Segment by Type
Lithium Ion Technology
Lead Acid Technology
Sodium Chemistry Technology
Flow Vanadium Technology
Flow Zinc Technology
Others
Segment by Application
Residential
Commercial
Utility
By Region
North America
United States
Canada
Europe
Germany
France
UK
Italy
Russia
Nordic Countries
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Detailed analysis of Energy Storage companies’ competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6, 7, 8, 9, 10: North America, Europe, Asia Pacific, Latin America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 11: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 12: The main points and conclusions of the report.
Index1 Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global Energy Storage Market Size Growth Rate by Type: 2019 VS 2023 VS 2030
1.2.2 Lithium Ion Technology
1.2.3 Lead Acid Technology
1.2.4 Sodium Chemistry Technology
1.2.5 Flow Vanadium Technology
1.2.6 Flow Zinc Technology
1.2.7 Others
1.3 Market by Application
1.3.1 Global Energy Storage Market Growth by Application: 2019 VS 2023 VS 2030
1.3.2 Residential
1.3.3 Commercial
1.3.4 Utility
1.4 Study Objectives
1.5 Years Considered
1.6 Years Considered
2 Global Growth Trends
2.1 Global Energy Storage Market Perspective (2019-2030)
2.2 Energy Storage Growth Trends by Region
2.2.1 Global Energy Storage Market Size by Region: 2019 VS 2023 VS 2030
2.2.2 Energy Storage Historic Market Size by Region (2019-2024)
2.2.3 Energy Storage Forecasted Market Size by Region (2025-2030)
2.3 Energy Storage Market Dynamics
2.3.1 Energy Storage Industry Trends
2.3.2 Energy Storage Market Drivers
2.3.3 Energy Storage Market Challenges
2.3.4 Energy Storage Market Restraints
3 Competition Landscape by Key Players
3.1 Global Top Energy Storage Players by Revenue
3.1.1 Global Top Energy Storage Players by Revenue (2019-2024)
3.1.2 Global Energy Storage Revenue Market Share by Players (2019-2024)
3.2 Global Energy Storage Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
3.3 Players Covered: Ranking by Energy Storage Revenue
3.4 Global Energy Storage Market Concentration Ratio
3.4.1 Global Energy Storage Market Concentration Ratio (CR5 and HHI)
3.4.2 Global Top 10 and Top 5 Companies by Energy Storage Revenue in 2023
3.5 Energy Storage Key Players Head office and Area Served
3.6 Key Players Energy Storage Product Solution and Service
3.7 Date of Enter into Energy Storage Market
3.8 Mergers & Acquisitions, Expansion Plans
4 Energy Storage Breakdown Data by Type
4.1 Global Energy Storage Historic Market Size by Type (2019-2024)
4.2 Global Energy Storage Forecasted Market Size by Type (2025-2030)
5 Energy Storage Breakdown Data by Application
5.1 Global Energy Storage Historic Market Size by Application (2019-2024)
5.2 Global Energy Storage Forecasted Market Size by Application (2025-2030)
6 North America
6.1 North America Energy Storage Market Size (2019-2030)
6.2 North America Energy Storage Market Growth Rate by Country: 2019 VS 2023 VS 2030
6.3 North America Energy Storage Market Size by Country (2019-2024)
6.4 North America Energy Storage Market Size by Country (2025-2030)
6.5 United States
6.6 Canada
7 Europe
7.1 Europe Energy Storage Market Size (2019-2030)
7.2 Europe Energy Storage Market Growth Rate by Country: 2019 VS 2023 VS 2030
7.3 Europe Energy Storage Market Size by Country (2019-2024)
7.4 Europe Energy Storage Market Size by Country (2025-2030)
7.5 Germany
7.6 France
7.7 U.K.
7.8 Italy
7.9 Russia
7.10 Nordic Countries
8 Asia-Pacific
8.1 Asia-Pacific Energy Storage Market Size (2019-2030)
8.2 Asia-Pacific Energy Storage Market Growth Rate by Region: 2019 VS 2023 VS 2030
8.3 Asia-Pacific Energy Storage Market Size by Region (2019-2024)
8.4 Asia-Pacific Energy Storage Market Size by Region (2025-2030)
8.5 China
8.6 Japan
8.7 South Korea
8.8 Southeast Asia
8.9 India
8.10 Australia
9 Latin America
9.1 Latin America Energy Storage Market Size (2019-2030)
9.2 Latin America Energy Storage Market Growth Rate by Country: 2019 VS 2023 VS 2030
9.3 Latin America Energy Storage Market Size by Country (2019-2024)
9.4 Latin America Energy Storage Market Size by Country (2025-2030)
9.5 Mexico
9.6 Brazil
10 Middle East & Africa
10.1 Middle East & Africa Energy Storage Market Size (2019-2030)
10.2 Middle East & Africa Energy Storage Market Growth Rate by Country: 2019 VS 2023 VS 2030
10.3 Middle East & Africa Energy Storage Market Size by Country (2019-2024)
10.4 Middle East & Africa Energy Storage Market Size by Country (2025-2030)
10.5 Turkey
10.6 Saudi Arabia
10.7 UAE
11 Key Players Profiles
11.1 Duke Energy
11.1.1 Duke Energy Company Detail
11.1.2 Duke Energy Business Overview
11.1.3 Duke Energy Energy Storage Introduction
11.1.4 Duke Energy Revenue in Energy Storage Business (2019-2024)
11.1.5 Duke Energy Recent Development
11.2 E.ON
11.2.1 E.ON Company Detail
11.2.2 E.ON Business Overview
11.2.3 E.ON Energy Storage Introduction
11.2.4 E.ON Revenue in Energy Storage Business (2019-2024)
11.2.5 E.ON Recent Development
11.3 East Penn Manufacturing
11.3.1 East Penn Manufacturing Company Detail
11.3.2 East Penn Manufacturing Business Overview
11.3.3 East Penn Manufacturing Energy Storage Introduction
11.3.4 East Penn Manufacturing Revenue in Energy Storage Business (2019-2024)
11.3.5 East Penn Manufacturing Recent Development
11.4 EDF Renewable Energy
11.4.1 EDF Renewable Energy Company Detail
11.4.2 EDF Renewable Energy Business Overview
11.4.3 EDF Renewable Energy Energy Storage Introduction
11.4.4 EDF Renewable Energy Revenue in Energy Storage Business (2019-2024)
11.4.5 EDF Renewable Energy Recent Development
11.5 Fluence Energy
11.5.1 Fluence Energy Company Detail
11.5.2 Fluence Energy Business Overview
11.5.3 Fluence Energy Energy Storage Introduction
11.5.4 Fluence Energy Revenue in Energy Storage Business (2019-2024)
11.5.5 Fluence Energy Recent Development
11.6 GE Power
11.6.1 GE Power Company Detail
11.6.2 GE Power Business Overview
11.6.3 GE Power Energy Storage Introduction
11.6.4 GE Power Revenue in Energy Storage Business (2019-2024)
11.6.5 GE Power Recent Development
11.7 Invenergy
11.7.1 Invenergy Company Detail
11.7.2 Invenergy Business Overview
11.7.3 Invenergy Energy Storage Introduction
11.7.4 Invenergy Revenue in Energy Storage Business (2019-2024)
11.7.5 Invenergy Recent Development
11.8 LG Chem
11.8.1 LG Chem Company Detail
11.8.2 LG Chem Business Overview
11.8.3 LG Chem Energy Storage Introduction
11.8.4 LG Chem Revenue in Energy Storage Business (2019-2024)
11.8.5 LG Chem Recent Development
11.9 Tesla
11.9.1 Tesla Company Detail
11.9.2 Tesla Business Overview
11.9.3 Tesla Energy Storage Introduction
11.9.4 Tesla Revenue in Energy Storage Business (2019-2024)
11.9.5 Tesla Recent Development
11.10 ABB
11.10.1 ABB Company Detail
11.10.2 ABB Business Overview
11.10.3 ABB Energy Storage Introduction
11.10.4 ABB Revenue in Energy Storage Business (2019-2024)
11.10.5 ABB Recent Development
11.11 Johnson Controls
11.11.1 Johnson Controls Company Detail
11.11.2 Johnson Controls Business Overview
11.11.3 Johnson Controls Energy Storage Introduction
11.11.4 Johnson Controls Revenue in Energy Storage Business (2019-2024)
11.11.5 Johnson Controls Recent Development
11.12 SolarEdge
11.12.1 SolarEdge Company Detail
11.12.2 SolarEdge Business Overview
11.12.3 SolarEdge Energy Storage Introduction
11.12.4 SolarEdge Revenue in Energy Storage Business (2019-2024)
11.12.5 SolarEdge Recent Development
11.13 EnerVault
11.13.1 EnerVault Company Detail
11.13.2 EnerVault Business Overview
11.13.3 EnerVault Energy Storage Introduction
11.13.4 EnerVault Revenue in Energy Storage Business (2019-2024)
11.13.5 EnerVault Recent Development
12 Analyst's Viewpoints/Conclusions
13 Appendix
13.1 Research Methodology
13.1.1 Methodology/Research Approach
13.1.2 Data Source
13.2 Disclaimer
13.3 Author Details
Published By : QY Research
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