Battery Energy Storage Market Share

APAC Market Forecast

The battery energy storage market in the Asia Pacific region is predicted to represent the largest market size of 38%. New electrification targets, the ability to produce renewable energy, the presence of numerous industry participants, and the exponential growth of industrialization and urbanization are some of the factors bolstering the region.

North American Market Statistics

The market in North America is anticipated to have considerable expansion, over the forecast period. Some of the key elements supporting the growth of the regional market size include the availability of supportive governmental policies, tax benefits for the deployment of renewable energy sources, and rising investments by public and private firms. Analysts predict continued EV market penetration in the US, which raises the demand for battery storage systems at EV charging stations. Prices have risen in line with this, with the cost of storage per kilowatt-hour rising from USD 1.5 billion in the first quarter of 2021 to USD 1.9 billion in 2022.

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of battery energy storage is evaluated at USD 22.36 billion.

The battery energy storage market size was valued at USD 20.36 billion in 2024 and is likely to exceed USD 83.36 billion by the end of 2037, expanding at over 12.2% CAGR during the forecast period i.e., between 2025-2037. Increasing investments in solar and wind power, supportive government policies, and technological advancements will impel the market growth.

North America industry is anticipated to have considerable expansion through 2037, backed by rising investments by public and private firms in the region.

The major players in the market include ABB, Delta Electronics, Inc, Hitachi, Ltd, General Electric, SAMSUNG SDI CO., LTD., Siemens, Panasonic Holdings Corporation, NEC Corporation, AEG Power Solutions, Toshiba International Corporation.

Battery Energy Storage Market Share