PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1708660
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1708660
Energy Storage System Market, By Technology, By End User, By Geography
Global Energy Storage System Market is estimated to be valued at USD 52.95 Bn in 2025 and is expected to reach USD 86.76 Bn by 2032, growing at a compound annual growth rate (CAGR) of 7.3% from 2025 to 2032.
| Report Coverage | Report Details | ||
|---|---|---|---|
| Base Year: | 2024 | Market Size in 2025: | USD 52.95 Bn |
| Historical Data for: | 2020 To 2024 | Forecast Period: | 2025 To 2032 |
| Forecast Period 2025 to 2032 CAGR: | 7.30% | 2032 Value Projection: | USD 86.76 Bn |
The global energy storage system market has witnessed tremendous growth in recent years and is poised to expand significantly over the coming decade. Growing deployment of renewable energy sources coupled with policy support for energy storage is driving investment and innovation in grid-scale and behind-the-meter storage technologies. Lithium-ion battery prices have dropped substantially making grid-connected energy storage economically viable. Moreover, the increasing integration of renewable energy is boosting the demand for energy storage to balance supply and demand more efficiently. Both utility providers and commercial & industrial establishment are actively evaluating energy storage as an effective means to optimize energy consumption and reduce costs. Looking forward, as renewable penetration increases worldwide, energy storage will emerge as a crucial technology supporting transition to low-carbon economies.
Market Dynamics:
The global energy storage system market is primarily driven by supportive government policies and initiatives aimed at promoting the deployment of renewable energy sources. Several countries have introduced production-linked incentive programs, investment subsidies, tax rebates, and net metering policies to incentivize energy storage adoption. Declining battery prices due to ongoing technical advancements and economies of scale is another key growth driver as it is making behind-the-meter and utility-scale storage financially more attractive. However, high initial installation costs remain a key challenge to widespread commercialization. Also, reliability and performance issues exert downward pressure on demand. Nevertheless, opportunities lie in shifting towards non-lithium battery technologies, integration of artificial intelligence and the need for energy storage in developing economies witnessing rapid urbanization.
Key Features of the Study:
This report provides in-depth analysis of the global energy storage system market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2025-2032), considering 2024 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global energy storage system market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Tesla, Inc., LG Chem Ltd., Samsung SDI Co., Ltd., Panasonic Corporation, BYD Company Limited, Siemens AG, ABB Ltd., Schneider Electric SE, Fluence Energy, Inc., Eos Energy Enterprises, Inc., Enphase Energy, Inc., AES Corporation, Saft Groupe S.A., Varta AG, and Kokam Co., Ltd.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global energy storage system market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global energy storage system market
Market Segmentation
- Technology Insights (Revenue, USD Bn, 2020 - 2032)
- Pumped Storage
- Electrochemical Storage
- Electromechanical Storage
- Thermal Storage
- End User Insights (Revenue, USD Bn, 2020 - 2032)
- Grid Storage
- Residential
- Commercial
- Industrial
- Regional Insights (Revenue, USD Bn, 2020 - 2032)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
- Key Players Insights
- Tesla, Inc.
- LG Chem Ltd.
- Samsung SDI Co., Ltd.
- Panasonic Corporation
- BYD Company Limited
- Siemens AG
- ABB Ltd.
- Schneider Electric SE
- Fluence Energy, Inc.
- Eos Energy Enterprises, Inc.
- Enphase Energy, Inc.
- AES Corporation
- Saft Groupe S.A.
- Varta AG
- Kokam Co., Ltd.
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Global Energy Storage System Market, By Technology
- Global Energy Storage System Market, By End User
- Global Energy Storage System Market, By Region
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product Launches/Approvals
- PEST Analysis
- PORTER's Analysis
- Market Opportunities
- Regulatory Scenario
- Key Developments
- Industry Trend
4. Global Energy Storage System Market, By Technology, 2020-2032, (USD Bn)
- Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y G/rowth Analysis, 2021 - 2032
- Segment Trends
- Pumped Storage
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
- Electrochemical Storage
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
- Electromechanical Storage
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
- Thermal Storage
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
5. Global Energy Storage System Market, By End User, 2020-2032, (USD Bn)
- Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021 - 2032
- Segment Trends
- Grid Storage
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
- Residential
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
- Commercial
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
- Industrial
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
6. Global Energy Storage System Market, By Region, 2020 - 2032, Value (USD Bn)
- Introduction
- Market Share (%) Analysis, 2025,2028 & 2032, Value (USD Bn)
- Market Y-o-Y Growth Analysis (%), 2021 - 2032, Value (USD Bn)
- Regional Trends
- North America
- Introduction
- Market Size and Forecast, By Technology, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By End User, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
- U.S.
- Canada
- Latin America
- Introduction
- Market Size and Forecast, By Technology, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By End User, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Introduction
- Market Size and Forecast, By Technology, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By End User, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- Introduction
- Market Size and Forecast, By Technology, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By End User, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- Introduction
- Market Size and Forecast, By Technology, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By End User, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- Introduction
- Market Size and Forecast, By Technology, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By End User, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Country/ Region, 2020 - 2032, Value (USD Bn)
- South Africa
- North Africa
- Central Africa
7. Competitive Landscape
- Tesla, Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- LG Chem Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Samsung SDI Co., Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Panasonic Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- BYD Company Limited
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Siemens AG
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- ABB Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Schneider Electric SE
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Fluence Energy, Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Eos Energy Enterprises, Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Enphase Energy, Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- AES Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Saft Groupe S.A.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Varta AG
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Kokam Co., Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
8. Analyst Recommendations
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
9. References and Research Methodology
- References
- Research Methodology
- About us
