Market Size of UK Energy Storage Systems Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 10.74 megawatt |
| Market Volume (2029) | 28.24 megawatt |
| CAGR (2024 - 2029) | 21.34 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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UK Energy Storage Market Analysis
The UK Energy Storage Systems Market size is estimated at 10.74 megawatt in 2024, and is expected to reach 28.24 megawatt by 2029, growing at a CAGR of 21.34% during the forecast period (2024-2029).
The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.
- Over the medium term, the growing renewable energy sector, supportive government policies and schemes for energy storage systems (ESS), and improving energy storage economics are also expected to drive the growth of the market studied.
- On the other hand, the closing of FiT and other supporting schemes in the country has slowed down rooftop solar PV installations since March 2019 may negatively impact the market's growth and is one of the major restraints for the market.
- Nevertheless, The increasing adoption of ESS by the commercial and industrial sectors, are expected to provide growth opportunities in the forecast period.
