Energy Storage Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Report Covers Global Energy Storage Systems Market Growth & Analysis and it is Segmented by Type (Batteries, Pumped-storage Hydroelectricity (PSH), Thermal Energy Storage (TES), Flywheel Energy Storage (FES), and Others), Application (Residential, Commercial and Industrial), and Geography (North America (Untied States, Canada, and Rest of North America), Europe (United Kingdom, Germany, and Rest of Europe), Asia-Pacific (India, China, Australia, and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America), and Middle-East and Africa(Saudi Arabia, Iraq, Jordon, and Rest of Middle-East and Africa)).

Energy Storage Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Energy Storage Market Size

Energy Storage Market Summary
Study Period 2019 - 2030
Market Size (2025) USD 58.41 Billion
Market Size (2030) USD 114.01 Billion
CAGR (2025 - 2030) 14.31 %
Fastest Growing Market Asia-Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Energy Storage Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Energy Storage Market with other markets in Energy & Power Industry

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Energy Storage Market Analysis

The Energy Storage Market size is estimated at USD 58.41 billion in 2025, and is expected to reach USD 114.01 billion by 2030, at a CAGR of 14.31% during the forecast period (2025-2030).

The outbreak of COVID-19 had a negative effect on the market. Currently, the market has reached pre-pandemic levels.

  • The development of the renewable energy sector, favorable government policies and programs for energy storage systems (ESS), and improved energy storage economics are all likely to have an impact on the energy storage market in the upcoming years.
  • But a mismatch between the demand and supply of raw materials like cobalt, lithium, and graphite is likely to slow market growth over the next few years.
  • The commercial and industrial (C&I) sector is using renewable energy sources like solar and wind power more and more to power their own buildings. But renewable energy isn't always a reliable source of power, and the C&I sector isn't making the most of these resources. So, the C&I sector is likely to use energy storage systems more and more to increase the amount of renewable energy it uses. This will create big opportunities for ESS providers in the future.
  • Asia-Pacific was the largest market in the world in 2021. This was because countries like China, South Korea, and India needed more energy storage systems.

Energy Storage Industry Overview

The energy storage market is fragmented. The key players in this market market (in no particular order) include GS Yuasa Corporation, Contemporary Amperex Technology Co. Limited, UniEnergy Technologies, LLC, BYD Co. Ltd, and Clarios.

Energy Storage Market Leaders

  1. GS Yuasa Corporation

  2. Contemporary Amperex Technology Co. Limited

  3. BYD Co. Ltd

  4. UniEnergy Technologies, LLC

  5. Clarios

  6. *Disclaimer: Major Players sorted in no particular order
Energy Storage Market Concentration
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Energy Storage Market News

  • February 2022: The partnership between FIMER and Vega Solar supplied 14 PVS-100 inverters, a three-phase string solution, to Albania. The PVS-100/120-TL is a cloud-connected three-phase string inverter by FIMER designed for cost-effective decentralized solar systems on both ground and rooftops.
  • May 2022: Salient Energy, a company developing proprietary zinc-ion batteries as an alternative to lithium-ion batteries in residential energy storage, announced that it had formalized a partnership with Horton World Solutions (HWS), a sustainable homebuilder whose proprietary composite framing system enables best-in-class energy efficiency and construction time.

Energy Storage Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Market Size and Demand Forecast, in USD billion, till 2028
  • 4.3 Global Annual Energy Storage Deployments (in MW), till 2028
  • 4.4 Energy Storage Price Trends and Forecast, by Technology, in USD/kW, till 2028
  • 4.5 Recent Trends and Developments
  • 4.6 Government Policies and Regulations
  • 4.7 Market Dynamics
    • 4.7.1 Drivers
    • 4.7.2 Restraints
  • 4.8 Supply Chain Analysis
  • 4.9 Porter's Five Forces Analysis
    • 4.9.1 Bargaining Power of Suppliers
    • 4.9.2 Bargaining Power of Consumers
    • 4.9.3 Threat of New Entrants
    • 4.9.4 Threat of Substitute Products and Services
    • 4.9.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 Type
    • 5.1.1 Batteries
    • 5.1.2 Pumped-storage Hydroelectricity (PSH)
    • 5.1.3 Thermal Energy Storage (TES)
    • 5.1.4 Flywheel Energy Storage (FES)
    • 5.1.5 Other Types
  • 5.2 Application
    • 5.2.1 Residential
    • 5.2.2 Commercial and Industrial
  • 5.3 Geography
    • 5.3.1 North America
    • 5.3.1.1 United States
    • 5.3.1.2 Canada
    • 5.3.1.3 Rest of North America
    • 5.3.2 Asia-Pacific
    • 5.3.2.1 India
    • 5.3.2.2 China
    • 5.3.2.3 Australia
    • 5.3.2.4 Rest of Asia-Pacific
    • 5.3.3 Europe
    • 5.3.3.1 Germany
    • 5.3.3.2 United Kingdom
    • 5.3.3.3 Rest of Europe
    • 5.3.4 South America
    • 5.3.4.1 Brazil
    • 5.3.4.2 Argentina
    • 5.3.4.3 Rest of South America
    • 5.3.5 Middle-East and Africa
    • 5.3.5.1 Saudi Arabia
    • 5.3.5.2 Iraq
    • 5.3.5.3 Jordan
    • 5.3.5.4 Rest of Middle-East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 GS Yuasa Corporation
    • 6.3.2 Contemporary Amperex Technology Co. Limited
    • 6.3.3 UniEnergy Technologies, LLC
    • 6.3.4 BYD Co. Ltd
    • 6.3.5 Clarios (Formerly Johnson Controls International PLC)
    • 6.3.6 LG Energy Solution Ltd.
    • 6.3.7 NGK Insulators Ltd.
    • 6.3.8 Samsung SDI Co. Ltd.
    • 6.3.9 Tesla Inc.
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Energy Storage Industry Segmentation

Energy storage is a key part of the switch from making power with fossil fuels to making power with renewable energy sources. Several developed nations across the globe are shifting from an energy system dominated by centralized fossil fuel generation that can always be dispatched to match energy consumption to one with more renewables. The energy storage market is segmented by type, application, and geography. By application, the market is segmented into residential, commercial, and industrial. By type, the market is segmented into batteries, pumped-storage hydroelectricity (PSH), thermal energy storage (TES), flywheel energy storage (FES), and others. The report also covers the size and forecasts of the energy storage market across major regions. For each segment, market sizing and forecasts have been done based on revenue (USD billion).

Type Batteries
Pumped-storage Hydroelectricity (PSH)
Thermal Energy Storage (TES)
Flywheel Energy Storage (FES)
Other Types
Application Residential
Commercial and Industrial
Geography North America United States
Canada
Rest of North America
Asia-Pacific India
China
Australia
Rest of Asia-Pacific
Europe Germany
United Kingdom
Rest of Europe
South America Brazil
Argentina
Rest of South America
Middle-East and Africa Saudi Arabia
Iraq
Jordan
Rest of Middle-East and Africa
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Energy Storage Market Research FAQs

How big is the Energy Storage Market?

The Energy Storage Market size is expected to reach USD 58.41 billion in 2025 and grow at a CAGR of 14.31% to reach USD 114.01 billion by 2030.

What is the current Energy Storage Market size?

In 2025, the Energy Storage Market size is expected to reach USD 58.41 billion.

Who are the key players in Energy Storage Market?

GS Yuasa Corporation, Contemporary Amperex Technology Co. Limited, BYD Co. Ltd, UniEnergy Technologies, LLC and Clarios are the major companies operating in the Energy Storage Market.

Which is the fastest growing region in Energy Storage Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Energy Storage Market?

In 2025, the Asia Pacific accounts for the largest market share in Energy Storage Market.

What years does this Energy Storage Market cover, and what was the market size in 2024?

In 2024, the Energy Storage Market size was estimated at USD 50.05 billion. The report covers the Energy Storage Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Energy Storage Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Energy Storage Industry Report

The global energy storage market is on a trajectory of significant growth, propelled by the surging demand for reliable and efficient energy storage solutions across diverse sectors. This expansion is notably led by the Asia Pacific region, which boasts the largest revenue share due to its rapid economic growth, urbanization, and supportive government policies. North America is also set for considerable growth, driven by renewable energy investments and a robust regulatory framework. The energy storage systems market is categorized by type, with pumped-storage hydroelectricity (PSH) holding the dominant share, and by application, where the commercial and industrial segment leads in revenue. Meanwhile, the residential sector is expected to experience the fastest growth, underscoring the wide-ranging applications of energy storage. Key growth drivers include the integration of renewable energy, the need for grid reliability, the electric vehicle boom, and rising energy costs. Despite facing challenges like limited energy density and high initial costs, the power storage industry is buoyed by opportunities in the electric vehicle market and technological advancements. For detailed statistics on market share, size, and revenue growth, Mordor Intelligence™ Industry Reports offer a comprehensive analysis and forecast outlook, including a free report PDF download for a snapshot of the energy storage industry.