The global market for Advanced Energy Storage is estimated at 14 Thousand Megawatts in 2023 and is projected to reach 22 Thousand Megawatts by 2030, growing at a CAGR of 6.6% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Several other factors are driving the adoption and sophistication of advanced energy storage technologies. The decreasing costs of key components, such as lithium and other raw materials, are making storage solutions more affordable. Increased investment in research and development from both public and private sectors is spurring further innovation and adoption. Growing environmental awareness among consumers and businesses is driving demand for sustainable energy solutions, while the desire for energy independence, especially in remote or off-grid locations, boosts interest in energy storage systems. Utilities are investing in advanced storage to improve grid resilience and manage load fluctuations more effectively. Emerging business models like Energy Storage as a Service (ESaaS) are lowering barriers for businesses and residential consumers by offering storage solutions without upfront investments. The convergence of energy storage with the Internet of Things (IoT) allows for real-time data collection and analysis, enhancing operational efficiencies and predictive maintenance capabilities. These factors collectively create a robust ecosystem conducive to the growth and advancement of energy storage technologies, positioning them as integral components of modern energy systems.
Several other factors are driving the adoption and sophistication of advanced energy storage technologies. The decreasing costs of key components, such as lithium and other raw materials, are making storage solutions more affordable. Increased investment in research and development from both public and private sectors is spurring further innovation and adoption. Growing environmental awareness among consumers and businesses is driving demand for sustainable energy solutions, while the desire for energy independence, especially in remote or off-grid locations, boosts interest in energy storage systems. Utilities are investing in advanced storage to improve grid resilience and manage load fluctuations more effectively. Emerging business models like Energy Storage as a Service (ESaaS) are lowering barriers for businesses and residential consumers by offering storage solutions without upfront investments. The convergence of energy storage with the Internet of Things (IoT) allows for real-time data collection and analysis, enhancing operational efficiencies and predictive maintenance capabilities. These factors collectively create a robust ecosystem conducive to the growth and advancement of energy storage technologies, positioning them as integral components of modern energy systems.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Thermal Energy Storage segment, which is expected to reach 11 Thousand Megawatts by 2030 with a CAGR of a 7.5%. The Electrochemical Energy Storage segment is also set to grow at 6.0% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at 4 Thousand Megawatts in 2023, and China, forecasted to grow at an impressive 6.0% CAGR to reach 3 Thousand Megawatts by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Advanced Energy Storage Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Advanced Energy Storage Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Advanced Energy Storage Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as ABB Ltd., Active Power, Inc., AES Energy Storage, LLC, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 94 Featured):
- ABB Ltd.
- Active Power, Inc.
- AES Energy Storage, LLC
- Alevo Group S.A.
- Altair Nanotechnologies, Inc.
- Amber Kinetics, Inc.
- Areva
- Ashlawn Energy, LLC
- Axion Power International, Inc.
- Beacon Power, LLC
- BYD Co. Ltd.
- Calnetix Technologies, LLC
- Dresser-Rand Group, Inc.
- ECOULT
- Electrochaea GmbH
- Encell Technology, Inc.
- EnSync Energy Systems, Inc.
- Exide Technologies
- General Electric Company
- Gridflex Energy, LLC
- Highview Enterprises Ltd.
- Hitachi, Ltd.
- Hyper Tech Research, Inc.
- IMS group AS
- ITM Power Plc
- Kokam Co., Ltd
- Leclanché SA
- LG Chem
- LightSail Energy
- Maxwell Technologies, Inc.
- McPhy Energy S.A.
- NEC Energy Solutions
- NGK Insulators, Ltd.
- Proton OnSite
- Redflow Limited
- Saft Groupe S.A.
- Samsung SDI Co., Ltd.
- Siemens AG
- Temporal Power
- Tesla, Inc.
- Tianjin Lishen Battery Co., Ltd.
- Toshiba International Corporation
- ViZn Energy Systems, Inc.
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
REST OF EUROPE
ASIA-PACIFIC
REST OF WORLD
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- ABB Ltd.
- Active Power, Inc.
- AES Energy Storage, LLC
- Alevo Group S.A.
- Altair Nanotechnologies, Inc.
- Amber Kinetics, Inc.
- Areva
- Ashlawn Energy, LLC
- Axion Power International, Inc.
- Beacon Power, LLC
- BYD Co. Ltd.
- Calnetix Technologies, LLC
- Dresser-Rand Group, Inc.
- ECOULT
- Electrochaea GmbH
- Encell Technology, Inc.
- EnSync Energy Systems, Inc.
- Exide Technologies
- General Electric Company
- Gridflex Energy, LLC
- Highview Enterprises Ltd.
- Hitachi, Ltd.
- Hyper Tech Research, Inc.
- IMS group AS
- ITM Power Plc
- Kokam Co., Ltd
- Leclanché SA
- LG Chem
- LightSail Energy
- Maxwell Technologies, Inc.
- McPhy Energy S.A.
- NEC Energy Solutions
- NGK Insulators, Ltd.
- Proton OnSite
- Redflow Limited
- Saft Groupe S.A.
- Samsung SDI Co., Ltd.
- Siemens AG
- Temporal Power
- Tesla, Inc.
- Tianjin Lishen Battery Co., Ltd.
- Toshiba International Corporation
- ViZn Energy Systems, Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 299 |
| Published | July 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value in 2023 | 14 Thousand Megawatts |
| Forecasted Market Value by 2030 | 22 Thousand Megawatts |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | Global |
