North America Battery Storage Service Market Report and Forecast 2023-2028

According to the report, the North America battery storage service market reached a value of USD 106.50 million in 2022. Aided by the escalating shift towards renewable energy sources and the increasing need for grid stabilisation, the market is projected to further grow at a CAGR of 22.8% between 2023 and 2028 to reach a value of USD 586.70 million by 2028.

Battery storage systems are pivotal in ensuring the continuous supply of power, especially with the intermittent nature of renewable energy sources like wind and solar. These storage systems not only aid in storing excess power for later use but also help in stabilising grid networks by managing peak load demands and preventing power outages.

The shift towards green energy is profoundly influencing the North America battery storage service market demand. With the increasing installation of solar panels and wind turbines, there's an augmented need for efficient battery storage systems to harness and utilise generated power optimally. Furthermore, the move away from fossil fuels, driven by environmental concerns for reducing carbon emissions, and policy frameworks, solidifies the position of battery storage systems in the energy infrastructure of North America.

As per the North America battery storage service market analysis, the ageing energy infrastructure in various parts of North America demands modern solutions for efficient power management and distribution of energy. Battery storage services are becoming integral in these revamp efforts, providing both short-term and long-term power storage solutions that ensure uninterrupted power supply and distribution.

The burgeoning electric vehicle (EV) market in the region further bolsters the value of the North America battery storage service market size. As EVs gain popularity, there's an ensuing demand for advanced battery storage systems not only in the vehicles themselves but also in charging stations. This has led to a rise in services related to the maintenance, monitoring, and upgrading of these battery systems.

Moreover, advancements in technology are some of the crucial North America battery storage service market trends that have paved the way for the development of more efficient, durable, and cost-effective battery storage systems. Innovations, especially in lithium-ion batteries, have significantly reduced costs while boosting efficiency, thereby propelling the market forward.

Market Segmentation

The market can be divided based on service type, deployment, battery type, and country.

Market Breakup by Service Type

• Temperature Monitoring
• Calibration (Charge and Discharge Rate)
• Emergency Services (Damage or Power Outages)
• Preventive Maintenance
• Decommissioning/Recycling
• Others

Market Breakup by Deployment

• Onsite
• Offsite (PLC and Scada Maintenance)

Market Breakup by Battery Type

• Lithium Ion Battery
• Flow Battery
• Others

Market Breakup by Country

• United States of America
• Canada

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the North America battery storage service market.

Some of the major players explored in the report are as follows:

• Glidepath Federal Solutions LLC
• Convergent Energy and Power
• General Electric Company
• ZGlobal Inc
• Stem, Inc.
• Fluence Energy, Inc.
• OCI Solar Power LLC
• CODA Energy Holdings LLC
• Others

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The analyst always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.