North America NMC Battery Energy Storage System (BESS) Market Size
| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 8.58 Billion |
| Market Size (2030) | USD 10.32 Billion |
| CAGR (2025 - 2030) | 3.77% |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North America NMC Battery Energy Storage System (BESS) Market Analysis
The North America NMC Battery Energy Storage System Market size is estimated at USD 8.58 billion in 2025, and is expected to reach USD 10.32 billion by 2030, at a CAGR of 3.77% during the forecast period (2025-2030).
- Over the medium period, the increasing adoption of renewable energy and the growing adoption of energy storage systems are likely to drive the North America NMC battery energy storage system (BESS) market in the forecast period.
- On the other hand, safety concerns in utilizing NMC battery can significantly restrain the growth of the market during the forecast period.
- Nevertheless, as solar and wind power gain traction, the need for energy storage solutions to address intermittency challenges is surging, presenting a lucrative opportunity in the market. NMC batteries excel in capturing surplus renewable energy during peak generation and releasing it during high demand, positioning them as prime candidates for hybrid renewable energy systems.
- The United States is expected to be the fastest-growing region in the North America NMC battery energy storage system market during the forecast period.
North America NMC Battery Energy Storage System (BESS) Market Trends
Utility Segment is Likely to Grow Significantly
- In North America, a surge in the utility segment of the battery energy storage market has been driven by an increasing demand for renewable energy and the need to stabilize the electricity grid. The expanding renewable energy sector plays a pivotal role in propelling the grid-scale battery storage market. As the uptake of renewable sources, such as wind and solar, accelerates, so does the need for reliable energy storage solutions. Grid-scale battery storage efficiently captures excess energy during peak production, ensuring availability during high demand or when renewable output diminishes.
- Over the past decade, North America has consistently expanded its renewable energy capacity and generation. According to IRENA, from 2014 to 2023, North America's installed renewable energy capacity more than doubled, reaching an impressive 526.96 GW by 2023.
- Canada is leading the charge in developing Battery Energy Storage Solutions (BESS). As of July 2023, Canada boasts an installed battery energy storage capacity of approximately 1 GW. Furthermore, Ontario, a province in Canada, has ambitious plans to integrate around 6 GW of long-duration energy storage (LDES) into its grid by 2032. In February 2023, both the Canadian and Ontario governments unveiled plans for a utility-scale battery storage project. The 250 MW Oneida battery energy storage project, a collaboration with the Six Nations of the Grand River Development Corporation, NRStor, Northland Power, and Aecon Group, is set to make waves. With an additional USD 50 million in government funding and an investment agreement from the Canada Infrastructure Bank, the Oneida Energy storage project is poised for success.
- To further bolster the adoption of sustainable technologies like BESS, the Canadian government has rolled out enticing incentives. Non-taxable entities can benefit from a 15% Clean Electricity Investment Tax Credit (ITC) when investing in sustainable technologies. Meanwhile, in 2022, taxable entities enjoyed a more generous 30% Clean Technology ITC. Such initiatives are likely to accelerate the uptake of BESS and automation technologies, particularly in residential and commercial domains.
- In May 2024, Canada, in tandem with the Ontario Independent Electricity System Operator (IESO), marked a significant achievement by securing nearly 1.8 GW of energy storage projects. Through the Long-Term 1 Request for Proposals (LT1 RFP), Ontario's government augmented its procurement with 410.69 MW from non-storage resources, such as biogas and natural gas, alongside 10 battery storage bids, leading to a total of 2,194.91 MW.
- In January 2024, Canadian Solar Inc., via its subsidiary CSI Solar Co., Ltd., struck a pivotal agreement with Aypa Power. They are set to deliver a 498 MWh DC standalone battery energy storage system for Aypa's Bypass Project, with an anticipated completion in Q3 2025. Such strategic moves underscore a promising trajectory for grid-scale battery energy systems in Canada, propelling the growth of the NMC BESS market.
- With these developments and the rising momentum in renewable energy generation, North America is poised for a significant uptick in the demand for utility-scale BESS systems in the coming years.
United States of America is Expected to Dominate the Market
- In the U.S., the battery energy storage system (BESS) landscape has evolved rapidly, particularly in residential and commercial sectors, fueled by escalating investments in renewable energy infrastructure.
- As the residential and commercial & industrial (C&I) sectors increasingly adopt solar PV systems, this trend is poised to significantly propel the market. Government initiatives, notably net metering, have played a pivotal role in the recent surge of rooftop solar adoption. Dominating the energy storage scene in the U.S., battery storage systems are the go-to choice for both residential and C&I applications. The U.S. Energy Information Administration (EIA) reports a swift trajectory for the nation, targeting an impressive 18.2 gigawatts boost in battery storage capacity by the end of 2025.
- This ambitious goal follows a significant leap: the U.S. integrated around 10 gigawatts in 2024, up from 7.1 gigawatts in 2023. As of January 2025, the Preliminary Monthly Electric Generator Inventory noted that the U.S. cumulative utility-scale battery storage capacity surpassed 26 gigawatts (GW) in 2024.
- In a bid to further accelerate battery storage projects, the U.S. government, through the Department of Energy, pledged an investment of nearly USD 350 million in October 2022. This funding, spotlighting eleven long-duration energy storage (LDES) demonstration projects, aims to bolster the power grid with electricity for durations spanning ten to twenty-four hours.
- Echoing this commitment, the Inflation Reduction Act offers clean energy tax credits, targeting the dual goals of a cost-effective, reliable, carbon-free electric grid and the ambitious vision of a net-zero emission U.S. by 2050.
- As the U.S. increasingly turns to renewable sources like solar and wind, the demand for efficient energy storage solutions has surged. These solutions are vital for managing the intermittency of renewables and ensuring grid stability. NMC batteries, celebrated for their high energy density and extended cycle life, are emerging as pivotal players, aiding the smooth integration of renewables into the power grid.
- By 2025, the U.S. is set to augment its grid with an additional 18.2 GW of utility-scale battery storage. Looking further ahead, the Solar Energy Industries Association (SEIA) envisions a bold future, targeting 10 million distributed storage installations and a whopping 700 gigawatt-hours (GWh) capacity by 2030.
- In a significant move, the U.S. Department of Agriculture (USDA) in January 2025, announced a commitment exceeding USD 6 billion. This funding, routed through the Empowering Rural America (New ERA) and Powering Affordable Clean Energy (PACE) programs, spans 30 states. The initiatives aim to introduce clean and affordable energy solutions, like solar PV and energy storage, to rural communities. Notably, under the PACE initiative, the USDA is championing 26 clean energy projects across 17 states, backing them with nearly USD 565 million in partially forgivable loans.
- Given the scale and ambition of these projects, the demand for NMC Battery energy storage system market is set to surge in the United States.
North America NMC Battery Energy Storage System (BESS) Industry Overview
The North America NMC battery energy storage system market is semi-consolidated. Some of the major players in the market (in no particular order) include Tesla Inc., Fluence Energy Inc., Sungrow Power Supply Co., Ltd., Hitachi Energy Ltd., and LG Energy Solution Ltd.. among others.
North America NMC Battery Energy Storage System (BESS) Market Leaders
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Tesla Inc.
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Fluence Energy Inc.
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LG Energy Solution Ltd.
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Hitachi Energy Ltd.
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Sungrow Power Supply Co., Ltd.
- *Disclaimer: Major Players sorted in no particular order
North America NMC Battery Energy Storage System (BESS) Market News
- March 2025: ,Stryten Energy LLC is set to unveil its M-Series Li710, a fresh lineup of Class I and II lithium batteries boasting a variety of voltages, at ProMat 2025. Stryten's innovative lithium module design employs nickel manganese cobalt (NMC) chemistry. This choice offers superior energy density, ensuring prolonged run times and quicker charging compared to lead and lithium iron phosphate (LFP) chemistries.
- January 2024: International Battery Company (IBC), known for its eco-friendly, large-sized rechargeable prismatic Lithium-ion NMC batteries, secured an investment of USD 35 Million. IBC has earmarked these funds for a 50 MWh capacity manufacturing plant, aligning its developments with United Nations 38.3 and BIS certifications, underscoring the surging demands of India's EV and energy storage sectors.
- January 2024: KORE Power unveiled two innovative all-in-one DC Block products tailored for the energy storage sector. KORE's latest offerings include a 750 kWh LFP DC Block and a 1.3 MWh NMC DC Block. These scalable battery energy storage systems (BESS) are versatile, arriving fully assembled at the site, and manufactured in the United States.
North America NMC Battery Energy Storage System (BESS) Industry Segmentation
Lithium Nickel Manganese Cobalt Oxide (NMC) batteries, a variant of lithium-ion battery technology, excel in energy storage systems. Renowned for their high energy density, these batteries cater to applications demanding both energy and power, such as electric vehicles and renewable energy storage. In energy storage systems (ESS), NMC batteries play a pivotal role, capturing energy from renewable sources like solar and wind for future use.
The North America NMC battery energy storage system (BESS) market is segmented by application and geography. By application, the market is segmented into residential, commercial & industrial, and utility. The report also covers market sizes and forecasts for the North America NMC battery energy storage system market across major countries.
For each segment, the market sizing and forecasts have been done based on revenue (USD).
| Application | Residential |
| Commercial & Industrial | |
| Utility | |
| Geography | United States |
| Canada | |
| Rest of the North America |
North America NMC Battery Energy Storage System (BESS) Market Research FAQs
How big is the North America NMC Battery Energy Storage System Market?
The North America NMC Battery Energy Storage System Market size is expected to reach USD 8.58 billion in 2025 and grow at a CAGR of 3.77% to reach USD 10.32 billion by 2030.
What is the current North America NMC Battery Energy Storage System Market size?
In 2025, the North America NMC Battery Energy Storage System Market size is expected to reach USD 8.58 billion.
Who are the key players in North America NMC Battery Energy Storage System Market?
Tesla Inc., Fluence Energy Inc., LG Energy Solution Ltd., Hitachi Energy Ltd. and Sungrow Power Supply Co., Ltd. are the major companies operating in the North America NMC Battery Energy Storage System Market.
What years does this North America NMC Battery Energy Storage System Market cover, and what was the market size in 2024?
In 2024, the North America NMC Battery Energy Storage System Market size was estimated at USD 8.26 billion. The report covers the North America NMC Battery Energy Storage System Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the North America NMC Battery Energy Storage System Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
North America NMC Battery Energy Storage System (BESS) Industry Report
Statistics for the 2025 North America NMC Battery Energy Storage System (BESS) market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America NMC Battery Energy Storage System (BESS) analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
