Germany Energy Storage Systems Market Size

Statistics for the 2023 & 2024 Germany Energy Storage Systems market size, created by Mordor Intelligence™ Industry Reports. Germany Energy Storage Systems size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Germany Energy Storage Systems Industry

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Germany Energy Storage Market  Summary
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Study Period 2021 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2021 - 2022
CAGR > 10.00 %
Market Concentration Low

Major Players

Germany Energy Storage Market  Major Players

*Disclaimer: Major Players sorted in no particular order

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Germany Energy Storage Market Analysis

The energy storage market in Germany is expected to witness a CAGR of more than 10% during the forecast period.

The market was negatively impacted by the outbreak of COVID-19 due to regional lockdowns and delays in projects. However, the market rebounded in 2021.

  • Over the medium term, factors such as the increasing share of renewables in the electricity generation mix, a decline in the cost of storage batteries and solar photovoltaic panels, supportive government policies like low-interest rates on loans, and investment grants on battery systems are driving the German energy storage market.
  • On the other hand, the problem of creating adequate and intelligent power grids across the country to harness and store the growing renewable energy remains a challenge, which may hinder the growth of the market.
  • However, Germany is planning to install 30 GW offshore wind energy turbines by 2030, 40 GW by 2035, and 70 GW by 2045, which may require large-scale energy storage systems, thus creating a vast opportunity for companies in the coming years.

Germany Energy Storage Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)