The global solar energy storage market was valued at USD 13.33 Billion in 2024. The industry is expected to grow at a CAGR of 7.60% during the forecast period of 2025-2034 to attain a valuation of USD 27.73 Billion by 2034.
Market Segmentation
The solar energy storage is referred to as the device which works by discarding excess electricity and then storing it. The market is segmented based on storage materials, technology, applications, and end-uses.Based on the storage material, the industry is segmented into:
- Water
- Molten Salt
- PCM
- Others
Based on technology, the industry is categorised into:
- Sensible Heat
- Latent Heat
- Thermochemical
- Others
Based on applications, the industry is divided into:
- Power Generation
- District Heating and Cooling
- Process Heating and Cooling
Based on end-uses, the industry is divided into:
- Residential and Commercial
- Industrial
- Utility
The report looks into the regional markets of solar energy storage like:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
Solar Energy Storage Market Analysis
The global solar energy storage market is being driven by the escalated energy demand globally. The industry is further enhanced by the rising investments in renewable energy sources. China and the United States represent the largest energy demand. The industry growth is expected to be enhanced by the predicted demand from the emerging economies. The electrification of transportation and heat sector, the digitalization of modern economies, and an increase in the number of electronically connected devices is expected to accelerate the industry growth of solar energy storage. The industries are adopting electric motor systems, further propelling the industry growth.Competitive Landscape
The report presents a detailed analysis of the following key players in the global solar energy storage market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:- BYD Motors Inc.
- LG Chem
- EnerSys
- Leclanché
- Saft
- Adara Power
- Others
Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Global Solar Energy Storage Market Analysis
6 Regional Analysis
7 Market Dynamics
9 Competitive Landscape
Companies Mentioned
The key companies featured in this Solar Energy Storage market report include:- BYD Motors Inc.
- LG Chem
- EnerSys
- Leclanché
- Saft
- Adara Power
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 154 |
| Published | August 2025 |
| Forecast Period | 2025 - 2034 |
| Estimated Market Value ( USD | $ 13.33 Billion |
| Forecasted Market Value ( USD | $ 27.73 Billion |
| Compound Annual Growth Rate | 7.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 7 |
