Market Size of North America Battery Energy Storage System Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 3.91 Billion |
| Market Size (2029) | USD 15.28 Billion |
| CAGR (2024 - 2029) | 31.28 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Battery Energy Storage System Market Analysis
The North America Battery Energy Storage System Market size is estimated at USD 3.91 billion in 2024, and is expected to reach USD 15.28 billion by 2029, growing at a CAGR of 31.28% during the forecast period (2024-2029).
- Over the medium term, factors such as declining prices of lithium-ion batteries and increased penetration of renewable energy are likely to drive the North America battery energy storage systems market in the forecast period.
- On the other hand, other energy storage systems will likely hinder the growth of the North America battery energy storage systems (BESS) market in the studied period.
- Nevertheless, technological advancements in new battery technologies to store energy will likely create lucrative growth opportunities for the North America BESS market during the forecast period.
- The United States is the fastest-growing market during the forecast period due to the rising energy demand. This growth is attributed to increasing investments, coupled with supportive government policies in the country.
