Battery Energy Storage System Market - Global Forecast To 20230
商品番号 : SMB-12174
| 出版社 | MarketsandMarkets |
| 出版年月 | 2025年10月 |
| ページ数 | 316 |
| 図表数 | 293 |
| 価格タイプ | シングルユーザライセンス |
| 価格 | USD 4,950 |
| 種別 | 英文調査報告書 |
バッテリーエネルギー貯蔵システム（BESS）市場 – タイプ（リチウムイオン電池、先進鉛蓄電池、フロー電池、ナトリウムイオン電池）、容量（30 kWh未満、30 kWh～10 MWh、10 MWh以上）、接続タイプ（オングリッド、オフグリッド） – 2030年までの世界予測
世界のバッテリーエネルギー貯蔵システム（BESS）市場は、年平均成長率（CAGR）15.8%で成長し、2025年の508億1,000万米ドルから2030年には1,059億6,000万米ドルに成長すると予測されています。世界のバッテリーエネルギー貯蔵システム（BESS）市場は、複数の要因が重なり、力強い成長を遂げています。太陽光や風力などの再生可能エネルギー源の統合が進むにつれて、グリッドの変動を相殺するための信頼性の高い貯蔵ソリューションに対する需要が高まっています。住宅、商業、産業部門全体での電力消費の増加は、柔軟なエネルギー管理の必要性をさらに高めています。リチウムイオンやその他の高度なバッテリー技術のコスト低下により、BESSソリューションはより経済的に実現可能になり、政府の支援政策、インセンティブ、規制の枠組みが導入を加速しています。さらに、グリッドの近代化、停電に対する回復力、低炭素エネルギーエコシステムへの移行への注目の高まりも、市場拡大を後押ししています。これらの要因が相まって、BESSは世界中の持続可能で効率的かつ信頼性の高いエネルギーインフラの重要な実現要因としての地位を確立しています。
本レポートでは、バッテリーエネルギー貯蔵システム（BESS）市場を、バッテリーの種類（リチウムイオン、先進鉛蓄電池、フロー電池、その他）、接続形態（オングリッドおよびオフグリッド）、所有権（顧客所有、第三者所有、公益事業所有）、エネルギー容量（30kWh未満、30kWh～10MWh、10MWh超）、用途（住宅用、商業用、公益事業用）、地域（北米、欧州、アジア太平洋地域、および中東、アフリカ、南米を含むその他の地域）に基づいてセグメント化しています。
本レポートでは、バッテリーエネルギー貯蔵システム（BESS）市場の推進要因、制約要因、機会、課題についても包括的に分析しています。また、これらの市場の定量的側面に加えて、定性的な側面も網羅しています。
本レポートは、市場全体およびサブセグメントの収益数値の近似値に関する情報を提供し、この市場のリーダー企業および新規参入企業にとって役立ちます。また、ステークホルダーが競争環境を理解し、事業のポジショニングを改善し、適切な市場開拓戦略を策定するための洞察を深めるのに役立ちます。さらに、本レポートは、ステークホルダーがバッテリーエネルギー貯蔵システム（BESS）市場の動向を理解するのに役立ち、主要な市場牽引要因、制約要因、課題、そして機会に関する情報を提供します。
レポートを購入する主なメリット
バッテリーエネルギー貯蔵システム（BESS）市場の成長に影響を与える主な推進要因（近代化プロジェクトにおけるグリッドエネルギー貯蔵の拡大、再生可能エネルギーにおけるリチウムイオン電池の採用の増加、再生可能エネルギーの成長と低炭素経済への移行）、制約要因（バッテリーエネルギー貯蔵システムの高額な設置コスト）、機会（世界的な農村電化イニシアチブにおける BESS の採用の増加、データセンターにおける無停電電源の需要増加）、および課題（遠隔地への設置の複雑さ）の分析。
- 製品開発／イノベーション：市場における今後の技術、研究開発活動、新製品投入に関する詳細な洞察。
- 市場開発：有望な市場に関する包括的な情報。本レポートでは、様々な地域にわたる市場分析を提供しています。
- 市場多様化：新製品／サービス、未開拓地域、最近の動向、市場への投資に関する包括的な情報。
- 競合評価：LGエナジーソリューション（韓国）、パナソニックホールディングス株式会社（日本）、BYD Company Ltd.（中国）、サムスンSDI（韓国）、テスラ（米国）などの主要企業の市場シェア、成長戦略、サービス提供に関する詳細な評価。
Report Description
With a CAGR of 15.8%, the global battery energy storage system market is projected to grow from USD 50.81 billion in 2025 to USD 105.96 billion by 2030. The global battery energy storage system (BESS) market is experiencing strong growth due to multiple converging factors. Increasing integration of renewable energy sources, such as solar and wind, creates a higher demand for reliable storage solutions to balance grid fluctuations. Rising electricity consumption across residential, commercial, and industrial sectors further drives the need for flexible energy management. Declining costs of lithium-ion and other advanced battery technologies make BESS solutions more economically viable, while supportive government policies, incentives, and regulatory frameworks accelerate deployment. Additionally, the growing focus on grid modernization, resilience against outages, and the transition to a low-carbon energy ecosystem reinforce market expansion. These factors collectively position BESS as a critical enabler for sustainable, efficient, and reliable energy infrastructure worldwide.
“The above 10 MWh energy capacity segment is expected to witness significant CAGR growth between 2025 and 2030.”
High-capacity BESSs offer extended service life and are particularly suited for large-scale applications, including peak shaving, valley filling, and grid stabilization in future global energy interconnections. These systems can efficiently manage energy demands during peak load periods, support the integration of renewable energy, and mitigate fluctuations from large-scale wind and solar power generation. By balancing variable renewable outputs, high-capacity storage ensures a smoother energy supply, enhances grid reliability, and strengthens real-time operational safety. Furthermore, these large-scale BESS facilitate the transition to a low-carbon energy ecosystem by enabling efficient storage and distribution of clean energy across regional and national grids, making them critical for future-proofing energy infrastructure.
“The utility application segment is projected to account for the largest market share during the forecast period.”
The utility application segment is expected to secure the largest share of the battery energy storage system (BESS) market during the forecast period. Utility applications involve integration with the electric grid, where electricity generated at power plants must be carefully balanced with consumption to prevent voltage and frequency deviations that could lead to outages or equipment damage. BESS addresses this challenge by stabilizing voltage and frequency, ensuring reliable grid operations. These systems offer a cost-effective solution for substations and transmission and distribution (T&D) networks, enabling them to manage growing peak demand efficiently. Additionally, utility-scale BESS supports the integration of renewable energy sources, enhances grid resilience, and facilitates the shift toward a more flexible, low-carbon energy infrastructure.
“North America is anticipated to gain a substantial market share by 2030.”
The region’s growth is driven by increasing deployment of renewable energy projects, rising electricity demand across residential, commercial, and utility sectors, and a focus on enhancing grid reliability and resilience. Supportive regulatory frameworks, incentives for clean energy adoption, and investments in grid modernization and smart energy technologies are further accelerating the integration of BESS. Large-scale energy storage projects are being implemented to manage peak loads, stabilize voltage and frequency, and facilitate the greater integration of intermittent renewable sources, such as solar and wind. Moreover, advancements in battery technologies, coupled with increasing corporate and utility commitments to decarbonization, are driving innovation and adoption of utility-scale and distributed storage solutions. These factors position North America as a leading market for large-scale, reliable, and sustainable energy storage infrastructure.
Breakdown of primaries
Various executives from key organizations operating in the battery energy storage system market were interviewed in-depth, including CEOs, marketing directors, and innovation and technology directors.
- By Company Type: Tier 1 –45%, Tier 2 – 30%, and Tier 3 – 25%
- By Designation: C-level – 35%, Directors – 45%, and Others – 20%
- By Region: North America – 30%, Europe – 25%, Asia Pacific – 35%, and RoW – 10%
Note: Three tiers of companies are defined based on their total revenue as of 2024: tier 3 = revenue less than USD 500 million; tier 2 = revenue between USD 500 million and USD 5 billion; and tier 1 = revenue more than USD 5 billion. Other designations include sales managers, marketing managers, and product managers.
Major players profiled in this report are as follows: LG Energy Solution (South Korea), Samsung SDI (South Korea), Panasonic Holdings Corporation (Japan), BYD Company Ltd. (China), Tesla (US), ABB (Switzerland), Delta Electronics, Inc. (Taiwan), GE Vernova (US), Hitachi Energy Ltd. (Switzerland), Honeywell International Inc. (US), NGK Insulators, Ltd. (Japan), Siemens AG (Germany), Toshiba Corporation (Japan), Johnson Control (US), Volvo AB (Sweden), AEG (Netherlands), East Penn Manufacturing Company (US), Primus Power Solutions (US), SolarEdge (South Korea), The AES Corporation (US), Trinasolar (China), KORE Power, Inc. (US), ESS Tech, Inc. (US), VRB ENERGY. (Canada), and Saft (France). These leading companies possess a broad portfolio of products, establishing a prominent presence in established and emerging markets.
The study offers a comprehensive competitive analysis of key players in the battery energy storage system market, presenting their company profiles, recent developments, and key market strategies.
Research Coverage
In this report, the battery energy storage system market has been segmented based on battery type ( Lithium-ion, Advanced Lead-acid, Flow batteries, Other batteries), Connection Type (On-grid and Off-grid) Ownership (Customer-owned, Third-Party Owned, Utility Owned), Energy Capacity (Below 30 kWh, Between 30 kWh to 10 MWh, Above 10 MWh), Application (Residential, Commercial, Utility) and Region (North America, Europe, Asia Pacific, and RoW which includes the Middle East, Africa and South America.)
The report also comprehensively reviews the battery energy storage system market drivers, restraints, opportunities, and challenges. It covers qualitative aspects in addition to the quantitative aspects of these markets.
Reasons to buy the report
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. It will also help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the battery energy storage system market’s pulse and provides information on key market drivers, restraints, challenges, and opportunities.
Key Benefits of Buying the Report
Analysis of key Drivers (Expansion of grid energy storage in modernization projects, Rising adoption of lithium-ion batteries in renewable energy, growth of renewable energy and transition to a low-carbon economy), Restraints (High installation costs of battery energy storage systems), Opportunities (Growing adoption of BESS in global rural electrification initiatives, Increasing demand for uninterrupted power in data centers), and Challenges (Installation complexities in remote locations) influencing the growth of the battery energy storage system market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the market.
- Market Development: Comprehensive information about lucrative markets – the report analyses the market across varied regions.
- Market Diversification: Exhaustive information about new products/services, untapped geographies, recent developments, and investments in the market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like LG Energy Solution (South Korea), Panasonic Holdings Corporation (Japan), BYD Company Ltd. (China), Samsung SDI (South Korea), Tesla (US), and others.
Table of Contents
1 INTRODUCTION 30
1.1 STUDY OBJECTIVES 30
1.2 MARKET DEFINITION 30
1.3 STUDY SCOPE 31
1.3.1 MARKETS COVERED AND REGIONAL SCOPE 31
1.3.2 YEARS CONSIDERED 32
1.3.3 INCLUSIONS AND EXCLUSIONS 32
1.4 CURRENCY CONSIDERED 33
1.5 UNIT CONSIDERED 33
1.6 LIMITATIONS 33
1.7 STAKEHOLDERS 34
1.8 SUMMARY OF CHANGES 34
2 RESEARCH METHODOLOGY 36
2.1 RESEARCH APPROACH 36
2.1.1 SECONDARY AND PRIMARY RESEARCH 37
2.1.2 SECONDARY DATA 38
2.1.2.1 List of key secondary sources 38
2.1.2.2 Key data from secondary sources 39
2.1.3 PRIMARY DATA 39
2.1.3.1 List of primary interview participants 40
2.1.3.2 Key data from primary sources 40
2.1.3.3 Key industry insights 41
2.1.3.4 Breakdown of primaries 41
2.2 MARKET SIZE ESTIMATION 42
2.2.1 TOP-DOWN APPROACH 42
2.2.1.1 Approach to arrive at market size using top-down analysis (supply side) 42
2.2.2 BOTTOM-UP APPROACH 43
2.2.2.1 Approach to arrive at market size using bottom-up analysis (demand side) 43
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 45
2.4 RESEARCH ASSUMPTIONS 46
2.5 RESEARCH LIMITATIONS 46
2.6 RISK ANALYSIS 47
3 EXECUTIVE SUMMARY 48
4 PREMIUM INSIGHTS 52
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN BATTERY ENERGY STORAGE SYSTEM MARKET 52
4.2 BATTERY ENERGY STORAGE SYSTEM MARKET, BY BATTERY TYPE 53
4.3 BATTERY ENERGY STORAGE SYSTEM MARKET, BY ENERGY CAPACITY 53
4.4 BATTERY ENERGY STORAGE SYSTEM MARKET IN ASIA PACIFIC, BY APPLICATION AND COUNTRY 54
4.5 BATTERY ENERGY STORAGE SYSTEM MARKET, BY GEOGRAPHY 54
5 MARKET OVERVIEW 55
5.1 INTRODUCTION 55
5.2 MARKET DYNAMICS 55
5.2.1 DRIVERS 56
5.2.1.1 Increasing investment in renewable energy grid infrastructure 56
5.2.1.2 Rising implementation of grid modernization projects 56
5.2.1.3 Mounting adoption of lithium-ion batteries for renewable energy storage 57
5.2.1.4 Rapid shift toward low-carbon economy 57
5.2.2 RESTRAINTS 59
5.2.2.1 High installation and maintenance costs 59
5.2.3 OPPORTUNITIES 60
5.2.3.1 Growing emphasis on rural electrification 60
5.2.3.2 Rising need for uninterrupted power supply in data centers 60
5.2.3.3 Decline in lithium-ion battery prices 61
5.2.4 CHALLENGES 62
5.2.4.1 Installation complexities in remote locations 62
5.2.4.2 Overheating and deterioration issues related to Li-ion batteries 62
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 63
5.4 VALUE CHAIN ANALYSIS 64
5.5 ECOSYSTEM ANALYSIS 66
5.6 INVESTMENT AND FUNDING SCENARIO 68
5.7 TECHNOLOGY ANALYSIS 69
5.7.1 KEY TECHNOLOGIES 70
5.7.1.1 Sodium-sulfur battery 70
5.7.1.2 Cobalt-free battery 70
5.7.1.3 Zinc-bromine battery 70
5.7.2 COMPLEMENTARY TECHNOLOGIES 70
5.7.2.1 Metal-air battery 70
5.7.2.2 Liquid metal battery 71
5.7.2.3 Lithium-sulfur battery 71
5.7.3 ADJACENT TECHNOLOGIES 71
5.7.3.1 Potassium-metal battery 71
5.7.3.2 Zinc-manganese battery 71
5.7.3.3 Lithium-sulfur battery 71
5.7.3.4 Lithium-metal battery 72
5.8 PATENT ANALYSIS 73
5.9 TRADE ANALYSIS 75
5.9.1 IMPORT SCENARIO (HS CODE 850650) 75
5.9.2 EXPORT SCENARIO (HS CODE 850650) 76
5.10 KEY CONFERENCES AND EVENTS, 2025–2026 77
5.11 CASE STUDY ANALYSIS 77
5.11.1 TESLA DELIVERS MEGAPACKS TO GAMBIT ENERGY STORAGE
PLANT TO PROTECT AGAINST OUTAGE 77
5.11.2 CONVERGENT ENERGY AND POWER SELECTS GE RENEWABLE ENERGY
TO DELIVER BATTERY ENERGY STORAGE SYSTEMS TO IMPROVE GRID RELIABILITY 78
5.11.3 ESKOM LAUNCHES BESS PROJECT TO SUPPORT RENEWABLE ENERGY STRATEGY IN SOUTH AFRICA 78
5.11.4 ABB AND SMC GLOBAL POWER HOLDINGS PARTNER TO INSTALL BESS
TO ENHANCE GRID PERFORMANCE IN PHILIPPINES 78
5.12 REGULATORY LANDSCAPE 79
5.12.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 79
5.12.2 STANDARDS AND REGULATIONS 81
5.13 PORTER’S FIVE FORCES ANALYSIS 84
5.13.1 THREAT OF NEW ENTRANTS 85
5.13.2 THREAT OF SUBSTITUTES 85
5.13.3 BARGAINING POWER OF SUPPLIERS 85
5.13.4 BARGAINING POWER OF BUYERS 86
5.13.5 INTENSITY OF COMPETITIVE RIVALRY 86
5.14 KEY STAKEHOLDERS AND BUYING CRITERIA 86
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS 86
5.14.2 BUYING CRITERIA 87
5.15 PRICING ANALYSIS 88
5.15.1 PRICING RANGE OF BATTERY PACKS, BY BATTERY TYPE, 2024 88
5.15.2 AVERAGE SELLING PRICE OF LITHIUM-ION BATTERY PACKS, BY KEY PLAYER, 2024 90
5.15.3 AVERAGE SELLING PRICE TREND OF LITHIUM-ION BATTERIES, BY REGION, 2021–2024 91
5.16 IMPACT OF AI/GEN AI ON BATTERY ENERGY STORAGE SYSTEM MARKET 92
5.16.1 INTRODUCTION 92
5.16.2 AI/GEN AI USE CASES AND MARKET POTENTIAL 92
5.17 IMPACT OF 2025 US TARIFF ON BATTERY ENERGY STORAGE SYSTEM MARKET 94
5.17.1 INTRODUCTION 94
5.17.2 KEY TARIFF RATES 95
5.17.3 PRICE IMPACT ANALYSIS 96
5.17.4 IMPACT ON COUNTRIES/REGIONS 97
5.17.4.1 US 97
5.17.4.2 Europe 98
5.17.4.3 ASIA PACIFIC 98
5.17.5 IMPACT ON APPLICATIONS 99
6 OVERVIEW OF KEY BESS COMPONENTS AND RELATED TECHNOLOGY ADVANCEMENTS 101
6.1 INTRODUCTION 101
6.2 KEY COMPONENTS OF BATTERY ENERGY STORAGE SYSTEMS 101
6.2.1 BATTERIES 101
6.2.2 POWER CONVERSION SYSTEMS (PCS) 101
6.2.3 BATTERY MANAGEMENT SYSTEMS (BMS) 102
6.2.4 ENERGY MANAGEMENT SYSTEMS (EMS) 102
6.3 TECHNOLOGY LANDSCAPE AND INNOVATIONS IN BESS COMPONENTS 102
6.3.1 KEY ADVANCEMENTS IN BATTERY TECHNOLOGIES 103
6.3.1.1 Key battery developments 103
6.3.1.1.1 Chemistry diversification 103
6.3.1.1.2 Cell-to-pack and cell-to-system integration 103
6.3.1.1.3 Solid-state batteries 103
6.3.1.1.4 Second-life batteries 103
6.3.1.2 Impact on business environments 103
6.3.2 INNOVATIONS IN POWER CONVERSION SYSTEMS (PCS) 103
6.3.2.1 PCS innovations 104
6.3.2.1.1 Grid-forming inverters 104
6.3.2.1.2 Wide bandgap semiconductors 104
6.3.2.1.3 Modular PCS architectures 104
6.3.2.1.4 Integrated PCS and transformer systems 104
6.3.2.2 Impact on business trends 104
6.3.3 ADVANCEMENTS IN ENERGY MANAGEMENT SYSTEMS (EMS) 104
6.3.3.1 EMS advancements 104
6.3.3.1.1 AI and predictive optimization 104
6.3.3.1.2 Cloud-based and edge-enabled EMS 104
6.3.3.1.3 Interoperable standards 104
6.3.3.1.4 Digital twin integration 104
6.3.3.2 Impact on business dynamics 105
6.3.4 ADVANCEMENTS IN CONTROL, PROTECTION,
AND COMMUNICATION SYSTEMS 105
6.3.4.1 Control, protection, and communication system advancements 105
6.3.4.1.1 Advanced fault detection and isolation 105
6.3.4.1.2 Cybersecurity integration 105
6.3.4.1.3 IoT-driven communication architecture 105
6.3.4.2 Impact on overall business 105
6.3.5 INTEGRATION AND SYSTEM-LEVEL INNOVATIONS 105
6.3.5.1 DC-coupled and hybrid architectures 105
6.3.5.2 Standardization and modular design 105
6.3.5.3 Enhanced safety and thermal management 105
6.3.5.4 Factory-integrated systems (plug-and-play) 106
7 MAJOR INPUT ENERGY SOURCES RELATED TO BESS 107
7.1 INTRODUCTION 107
7.2 INPUT ENERGY SOURCES 107
7.2.1 SOLAR PANELS 107
7.2.2 WIND TURBINES 107
7.2.3 GRID POWER 108
7.2.4 DIESEL GENERATORS 108
7.2.5 OTHER SOURCES 108
8 BESS IMPLEMENTATION TYPES AND COMPARATIVE ANALYSIS
OF BATTERY TECHNOLOGIES 109
8.1 INTRODUCTION 109
8.2 KEY IMPLEMENTATION TYPES OF BATTERY ENERGY STORAGE SYSTEMS 109
8.2.1 FRONT-OF-THE-METER (FTM) SYSTEMS 109
8.2.2 BEHIND-THE-METER (BTM) SYSTEMS 110
8.3 COMPARATIVE ANALYSIS OF BATTERY TECHNOLOGIES 111
8.4 COMPARATIVE ANALYSIS OF ENERGY STORAGE SYSTEMS 118
9 KEY BESS BUSINESS MODELS 121
9.1 INTRODUCTION 121
9.2 DIRECT OWNERSHIP MODEL 121
9.3 THIRD-PARTY OWNERSHIP MODEL 121
9.4 HYBRID OWNERSHIP MODEL 122
9.5 ENERGY STORAGE-AS-A-SERVICE (ESAAS) MODEL 122
9.6 AGGREGATION AND VIRTUAL POWER PLANT (VPP) MODEL 123
9.7 UTILITY CONTRACTING AND ANCILLARY SERVICE MODEL 123
9.8 COMMUNITY AND COOPERATIVE OWNERSHIP MODEL 124
10 BATTERY ENERGY STORAGE SYSTEM MARKET, BY BATTERY TYPE 125
10.1 INTRODUCTION 126
10.2 LITHIUM-ION BATTERY 129
10.2.1 HIGH ENERGY DENSITY AND EFFICIENCY TO FOSTER SEGMENTAL GROWTH 129
10.3 ADVANCED LEAD-ACID BATTERY 132
10.3.1 EXTENSIVE ADOPTION FOR GRID ENERGY STORAGE TO BOOST DEMAND 132
10.4 FLOW BATTERY 136
10.4.1 TECHNICAL ADVANTAGES OVER CONVENTIONAL BATTERIES
TO AUGMENT SEGMENTAL GROWTH 136
10.5 SODIUM-ION BATTERY 139
10.5.1 EMERGENCE AS COST-EFFECTIVE AND SUSTAINABLE ALTERNATIVE TO LITHIUM-ION BATTERIES TO FUEL SEGMENTAL GROWTH 139
11 BATTERY ENERGY STORAGE SYSTEM MARKET, BY CONNECTION TYPE 143
11.1 INTRODUCTION 144
11.2 ON-GRID 146
11.2.1 RISING FOCUS ON PREVENTING GRID CONGESTION AND STORING SURPLUS ENERGY TO ACCELERATE SEGMENTAL GROWTH 146
11.3 OFF-GRID 149
11.3.1 GROWING EMPHASIS ON PROVIDING ENERGY IN REMOTE AREAS TO EXPEDITE SEGMENTAL GROWTH 149
12 BATTERY ENERGY STORAGE SYSTEM MARKET, BY OWNERSHIP 152
12.1 INTRODUCTION 153
12.2 CUSTOMER-OWNED 155
12.2.1 REDUCED ELECTRICITY COSTS IN RESIDENTIAL APPLICATIONS
TO DRIVE MARKET 155
12.3 THIRD-PARTY-OWNED 157
12.3.1 ABILITY TO SUPPLY ENERGY TO DISTRIBUTION NETWORKS
DURING HIGH-PEAK DEMAND TO FOSTER SEGMENTAL GROWTH 157
12.4 UTILITY-OWNED 158
12.4.1 RISE IN DEMAND FOR RENEWABLE ENERGY SOURCES TO BOLSTER SEGMENTAL GROWTH 158
13 BATTERY ENERGY STORAGE SYSTEM MARKET, BY ENERGY CAPACITY 160
13.1 INTRODUCTION 161
13.2 BELOW 30 KWH 163
13.2.1 ESCALATING ADOPTION IN RESIDENTIAL AND SMALL COMMERCIAL SETTINGS TO CONTRIBUTE TO SEGMENTAL GROWTH 163
13.3 10 KWH–10 MWH 165
13.3.1 INCREASING USAGE TO MANAGE UNCERTAINTIES IN POWER
SYSTEMS TO BOOST SEGMENTAL GROWTH 165
13.4 ABOVE 10 MWH 167
13.4.1 RISING DEPLOYMENT IN LARGE-SCALE UTILITY AND GRID
APPLICATIONS TO FUEL SEGMENTAL GROWTH 167
14 BATTERY ENERGY STORAGE SYSTEM MARKET, BY APPLICATION 170
14.1 INTRODUCTION 171
14.2 RESIDENTIAL 172
14.2.1 GOVERNMENT INITIATIVES ENCOURAGING RESIDENTIAL ENERGY
STORAGE TO FACILITATE SEGMENTAL GROWTH 172
14.3 COMMERCIAL & INDUSTRIAL 177
14.3.1 MOUNTING DEMAND FOR UPS SYSTEMS FOR DATA CENTERS,
FACTORIES, AND CRITICAL INFRASTRUCTURE TO DRIVE MARKET 177
14.4 UTILITY 180
14.4.1 STRONG FOCUS ON REDUCING COSTS AND ENHANCING ENERGY
STORAGE AND SUPPLY TO AUGMENT TO SEGMENTAL GROWTH 180
15 BATTERY ENERGY STORAGE SYSTEM MARKET, BY REGION 184
15.1 INTRODUCTION 185
15.2 NORTH AMERICA 187
15.2.1 MACROECONOMIC OUTLOOK FOR NORTH AMERICA 188
15.2.2 US 191
15.2.2.1 Growing emphasis on reducing dependence on fossil fuels to accelerate market growth 191
15.2.3 CANADA 192
15.2.3.1 Government investments and tax credits for battery technology development to drive market 192
15.2.4 MEXICO 193
15.2.4.1 Strong commitment to clean energy generation and emission reduction to bolster market growth 193
15.3 EUROPE 194
15.3.1 MACROECONOMIC OUTLOOK FOR EUROPE 195
15.3.2 GERMANY 197
15.3.2.1 Growing focus on power generation using renewable energy to boost market growth 197
15.3.3 UK 199
15.3.3.1 Increasing investment in renewable electricity generation technologies to foster market growth 199
15.3.4 FRANCE 200
15.3.4.1 Rising emphasis on reducing nuclear power generation to fuel market growth 200
15.3.5 ITALY 201
15.3.5.1 Strong commitment to decarbonization to contribute to market growth 201
15.3.6 REST OF EUROPE 202
15.4 ASIA PACIFIC 203
15.4.1 MACROECONOMIC OUTLOOK FOR ASIA PACIFIC 203
15.4.2 CHINA 206
15.4.2.1 Rising population and electricity demand to drive market 206
15.4.3 JAPAN 207
15.4.3.1 Increasing investment in solar and wind energy projects to
accelerate market growth 207
15.4.4 SOUTH KOREA 209
15.4.4.1 Mounting adoption of energy storage systems to stabilize
electrical grids to expedite market growth 209
15.4.5 AUSTRALIA 210
15.4.5.1 High commitment to enhancing grid reliability and integrating renewable energy to bolster market growth 210
15.4.6 INDIA 211
15.4.6.1 Increasing target to achieve net-zero carbon emissions to fuel market growth 211
15.4.6.2 Recent strategic developments accelerate India’s lithium-ion battery market growth 211
15.4.6.3 Emerging battery powerhouses: India’s gigafactory map 213
15.4.7 REST OF ASIA PACIFIC 214
15.5 ROW 215
15.5.1 MACROECONOMIC OUTLOOK FOR ROW 215
15.5.2 MIDDLE EAST 217
15.5.2.1 Increasing investment in renewable energy projects to facilitate market growth 217
15.5.2.2 GCC countries 218
15.5.2.3 Rest of Middle East 218
15.5.3 AFRICA 219
15.5.3.1 Mounting electricity demand due to climatic conditions to drive market 219
15.5.4 SOUTH AMERICA 220
15.5.4.1 Rising focus on mitigating risk of power shortages to support market growth 220
16 COMPETITIVE LANDSCAPE 221
16.1 OVERVIEW 221
16.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2021–2025 221
16.3 REVENUE ANALYSIS, 2020–2024 223
16.4 MARKET SHARE ANALYSIS, 2024 225
16.5 COMPANY VALUATION AND FINANCIAL METRICS 228
16.6 BRAND/PRODUCT COMPARISON 229
16.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024 230
16.7.1 STARS 230
16.7.2 EMERGING LEADERS 230
16.7.3 PERVASIVE PLAYERS 230
16.7.4 PARTICIPANTS 230
16.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2024 232
16.7.5.1 Company footprint 232
16.7.5.2 Region footprint 233
16.7.5.3 Battery type footprint 234
16.7.5.4 Application footprint 235
16.7.5.5 Connection type footprint 236
16.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024 237
16.8.1 PROGRESSIVE COMPANIES 237
16.8.2 RESPONSIVE COMPANIES 237
16.8.3 DYNAMIC COMPANIES 237
16.8.4 STARTING BLOCKS 237
16.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024 239
16.8.5.1 Detailed list of key startups/SMEs 239
16.8.5.2 Competitive benchmarking of key startups/SMEs 239
16.9 COMPETITIVE SCENARIO 240
16.9.1 PRODUCT LAUNCHES 240
16.9.2 DEALS 242
16.9.3 OTHER DEVELOPMENTS 246
17 COMPANY PROFILES 247
17.1 KEY PLAYERS 247
17.1.1 TESLA 247
17.1.1.1 Business overview 247
17.1.1.2 Products/Solutions/Services offered 248
17.1.1.3 MnM view 249
17.1.1.3.1 Key strengths/Right to win 249
17.1.1.3.2 Strategic choices 249
17.1.1.3.3 Weaknesses/Competitive threats 249
17.1.2 SUNGROW 250
17.1.2.1 Business overview 250
17.1.2.2 Products/Solutions/Services offered 251
17.1.2.3 Recent developments 252
17.1.2.3.1 Product launches 252
17.1.2.3.2 Deals 253
17.1.2.4 MnM view 253
17.1.2.4.1 Key strengths/Right to win 253
17.1.2.4.2 Strategic choices 253
17.1.2.4.3 Weaknesses/Competitive threats 254
17.1.3 BYD COMPANY LTD. 255
17.1.3.1 Business overview 255
17.1.3.2 Products/Solutions/Services offered 256
17.1.3.3 Recent developments 257
17.1.3.3.1 Deals 257
17.1.3.4 MnM view 257
17.1.3.4.1 Key strengths/Right to win 257
17.1.3.4.2 Strategic choices 257
17.1.3.4.3 Weaknesses/Competitive threats 258
17.1.4 LG ENERGY SOLUTION 259
17.1.4.1 Business overview 259
17.1.4.2 Products/Solutions/Services offered 260
17.1.4.3 Recent developments 261
17.1.4.3.1 Product launches 261
17.1.4.3.2 Deals 261
17.1.4.3.3 Other developments 262
17.1.4.4 MnM view 262
17.1.4.4.1 Key strengths/Right to win 262
17.1.4.4.2 Strategic choices 262
17.1.4.4.3 Weaknesses/Competitive threats 262
17.1.5 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED 263
17.1.5.1 Business overview 263
17.1.5.2 Products/Solutions/Services offered 264
17.1.5.3 Recent developments 265
17.1.5.3.1 Product launches 265
17.1.5.3.2 Deals 265
17.1.5.4 MnM view 266
17.1.5.4.1 Key strengths/Right to win 266
17.1.5.4.2 Strategic choices 267
17.1.5.4.3 Weaknesses/Competitive threats 267
17.1.6 SAMSUNG SDI 268
17.1.6.1 Business overview 268
17.1.6.2 Products/Solutions/Services offered 269
17.1.6.3 Recent developments 270
17.1.6.3.1 Product launches 270
17.1.7 ABB 271
17.1.7.1 Business overview 271
17.1.7.2 Products/Solutions/Services offered 272
17.1.7.3 Recent developments 273
17.1.7.3.1 Deals 273
17.1.7.3.2 Other developments 273
17.1.8 AB VOLVO 274
17.1.8.1 Business overview 274
17.1.8.2 Products/Solutions/Services offered 275
17.1.9 DELTA ELECTRONICS, INC. 276
17.1.9.1 Business overview 276
17.1.9.2 Products/Solutions/Services offered 277
17.1.10 GE VERNOVA 278
17.1.10.1 Business overview 278
17.1.10.2 Products/Solutions/Services offered 279
17.1.10.3 Recent developments 280
17.1.10.3.1 Product launches 280
17.1.10.3.2 Deals 280
17.1.11 GOTION 281
17.1.11.1 Business overview 281
17.1.11.2 Products/Solutions/Services offered 282
17.1.11.3 Recent developments 283
17.1.11.3.1 Deals 283
17.1.12 HONEYWELL INTERNATIONAL INC. 284
17.1.12.1 Business overview 284
17.1.12.2 Products/Solutions/Services offered 285
17.1.12.3 Recent developments 286
17.1.12.3.1 Developments 286
17.1.13 NGK INSULATORS, LTD. 287
17.1.13.1 Business overview 287
17.1.13.2 Products/Solutions/Services offered 288
17.1.13.3 Recent developments 289
17.1.13.3.1 Product launches 289
17.1.13.3.2 Deals 289
17.1.14 PANASONIC CORPORATION 291
17.1.14.1 Business overview 291
17.1.14.2 Products/Solutions/Services offered 292
17.1.14.3 Recent developments 293
17.1.14.3.1 Product launches 293
17.1.15 SIEMENS ENERGY 294
17.1.15.1 Business overview 294
17.1.15.2 Products/Solutions/Services offered 295
17.1.16 TOSHIBA CORPORATION 296
17.1.16.1 Business overview 296
17.1.16.2 Products/Solutions/Services offered 297
17.2 OTHER PLAYERS 298
17.2.1 THE AES CORPORATION 298
17.2.2 TRINASOLAR 299
17.2.3 AEG 300
17.2.4 EAST PENN MANUFACTURING COMPANY 301
17.2.5 ESS TECH, INC. 302
17.2.6 FARADION 303
17.2.7 KORE POWER INC. 304
17.2.8 PRIMUS POWER SOLUTIONS 305
17.2.9 SAFT 306
17.2.10 VRB ENERGY 307
18 APPENDIX 308
18.1 INSIGHTS FROM INDUSTRY EXPERTS 308
18.2 DISCUSSION GUIDE 309
18.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 312
18.4 CUSTOMIZATION OPTIONS 314
18.5 RELATED REPORTS 314
18.6 AUTHOR DETAILS 315
LIST OF TABLES
TABLE 1 BATTERY ENERGY STORAGE SYSTEM MARKET: INCLUSIONS AND EXCLUSIONS 32
TABLE 2 BATTERY ENERGY STORAGE SYSTEM MARKET: SUMMARY OF CHANGES 34
TABLE 3 MAJOR SECONDARY SOURCES 38
TABLE 4 PRIMARY INTERVIEW PARTICIPANTS 40
TABLE 5 DATA CAPTURED FROM PRIMARY SOURCES 40
TABLE 6 BATTERY ENERGY STORAGE SYSTEM MARKET: RISK ANALYSIS 47
TABLE 7 ROLE OF COMPANIES IN BATTERY ENERGY STORAGE SYSTEM ECOSYSTEM 68
TABLE 8 CHARACTERISTICS OF TECHNOLOGIES DEPLOYED IN BATTERY
ENERGY STORAGE SYSTEMS 69
TABLE 9 LIST OF PATENTS, 2023–2025 74
TABLE 10 IMPORT DATA FOR HS CODE 850650-COMPLIANT PRODUCTS,
BY COUNTRY, 2020–2024 (USD MILLION) 75
TABLE 11 EXPORT DATA FOR HS CODE 850650-COMPLIANT PRODUCTS,
BY COUNTRY, 2020–2024 (USD MILLION) 76
TABLE 12 LIST OF KEY CONFERENCES AND EVENTS, 2025–2026 77
TABLE 13 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 79
TABLE 14 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 80
TABLE 15 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT
AGENCIES, AND OTHER ORGANIZATIONS 80
TABLE 16 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 81
TABLE 17 REGULATIONS AND STANDARDS 82
TABLE 18 IMPACT OF PORTER’S FIVE FORCES ANALYSIS 85
TABLE 19 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION (%) 87
TABLE 20 KEY BUYING CRITERIA, BY APPLICATION 87
TABLE 21 PRICING RANGE OF BATTERY PACKS, BY BATTERY TYPE, 2024 (USD/KWH) 88
TABLE 22 AVERAGE SELLING PRICE TREND OF LITHIUM-ION BATTERY PACKS,
2021–2024 (USD/KWH) 89
TABLE 23 AVERAGE SELLING PRICE OF LITHIUM-ION BATTERY PACKS PROVIDED
BY KEY PLAYERS, 2024 (USD) 90
TABLE 24 AVERAGE SELLING PRICE TREND OF LITHIUM-ION BATTERIES, BY REGION,
2021–2024 (USD/KWH) 91
TABLE 25 US-ADJUSTED RECIPROCAL TARIFF RATES 95
TABLE 26 KEY PRODUCT-RELATED TARIFF EFFECTIVE FOR LITHIUM-ION BATTERY MARKET 96
TABLE 27 EXPECTED CHANGE IN PRICES AND LIKELY IMPACT ON END-USE MARKET DUE TO 2025 US TARIFF 96
TABLE 28 TYPES OF BATTERY TECHNOLOGIES 111
TABLE 29 TYPES OF ENERGY STORAGE SYSTEMS 119
TABLE 30 COMPARISON BETWEEN LITHIUM-ION, LITHIUM-COBALT, LITHIUM-MANGANESE, AND LEAD-ACID BATTERIES 127
TABLE 31 BATTERY ENERGY STORAGE SYSTEM MARKET, BY BATTERY TYPE,
2021–2024 (USD BILLION) 128
TABLE 32 BATTERY ENERGY STORAGE SYSTEM MARKET, BY BATTERY TYPE,
2025–2030 (USD BILLION) 128
TABLE 33 LITHIUM-ION BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY INSTALLED CAPACITY, 2021–2024 (GWH) 130
TABLE 34 LITHIUM-ION BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY INSTALLED CAPACITY, 2025–2030 (GWH) 130
TABLE 35 LITHIUM-ION BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY CONNECTION TYPE, 2021–2024 (USD BILLION) 130
TABLE 36 LITHIUM-ION BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY CONNECTION TYPE, 2025–2030 (USD BILLION) 130
TABLE 37 LITHIUM-ION BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY ENERGY CAPACITY, 2021–2024 (USD BILLION) 131
TABLE 38 LITHIUM-ION BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET, BY ENERGY CAPACITY, 2025–2030 (USD BILLION) 131
TABLE 39 LITHIUM-ION BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY APPLICATION, 2021–2024 (USD BILLION) 131
TABLE 40 LITHIUM-ION BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY APPLICATION, 2025–2030 (USD BILLION) 131
TABLE 41 LITHIUM-ION BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET, BY REGION, 2021–2024 (USD BILLION) 132
TABLE 42 LITHIUM-ION BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET, BY REGION, 2025–2030 (USD BILLION) 132
TABLE 43 ADVANCED LEAD-ACID BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY CONNECTION TYPE, 2021–2024 (USD BILLION) 133
TABLE 44 ADVANCED LEAD-ACID BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY CONNECTION TYPE, 2025–2030 (USD BILLION) 134
TABLE 45 ADVANCED LEAD-ACID BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY ENERGY CAPACITY, 2021–2024 (USD BILLION) 134
TABLE 46 ADVANCED LEAD-ACID BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY ENERGY CAPACITY, 2025–2030 (USD BILLION) 134
TABLE 47 ADVANCED LEAD-ACID BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY APPLICATION, 2021–2024 (USD BILLION) 134
TABLE 48 ADVANCED LEAD-ACID BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY APPLICATION, 2025–2030 (USD BILLION) 135
TABLE 49 ADVANCED LEAD-ACID BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY REGION, 2021–2024 (USD BILLION) 135
TABLE 50 ADVANCED LEAD-ACID BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY REGION, 2025–2030 (USD BILLION) 135
TABLE 51 FLOW BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET, BY CONNECTION TYPE, 2021–2024 (USD BILLION) 137
TABLE 52 FLOW BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET, BY CONNECTION TYPE, 2025–2030 (USD BILLION) 137
TABLE 53 FLOW BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET, BY ENERGY CAPACITY, 2021–2024 (USD BILLION) 137
TABLE 54 FLOW BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET, BY ENERGY CAPACITY, 2025–2030 (USD BILLION) 137
TABLE 55 FLOW BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET, BY APPLICATION, 2021–2024 (USD BILLION) 138
TABLE 56 FLOW BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET, BY APPLICATION, 2025–2030 (USD BILLION) 138
TABLE 57 FLOW BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET, BY REGION, 2021–2024 (USD BILLION) 138
TABLE 58 FLOW BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET, BY REGION, 2025–2030 (USD BILLION) 139
TABLE 59 SODIUM-ION BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY CONNECTION TYPE, 2021–2024 (USD BILLION) 140
TABLE 60 SODIUM-ION BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY CONNECTION TYPE, 2025–2030 (USD BILLION) 140
TABLE 61 SODIUM-ION BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY ENERGY CAPACITY, 2021–2024 (USD BILLION) 140
TABLE 62 SODIUM-ION BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY ENERGY CAPACITY, 2025–2030 (USD BILLION) 140
TABLE 63 SODIUM-ION BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY APPLICATION, 2021–2024 (USD BILLION) 141
TABLE 64 SODIUM-ION BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY APPLICATION, 2025–2030 (USD BILLION) 141
TABLE 65 SODIUM-ION BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY REGION, 2021–2024 (USD BILLION) 141
TABLE 66 SODIUM-ION BATTERY: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY REGION, 2025–2030 (USD BILLION) 142
TABLE 67 BATTERY ENERGY STORAGE SYSTEM MARKET, BY CONNECTION TYPE,
2021–2024 (USD BILLION) 146
TABLE 68 BATTERY ENERGY STORAGE SYSTEM MARKET, BY CONNECTION TYPE,
2025–2030 (USD BILLION) 146
TABLE 69 ON-GRID: BATTERY ENERGY STORAGE SYSTEM MARKET, BY BATTERY TYPE, 2021–2024 (USD BILLION) 148
TABLE 70 ON-GRID: BATTERY ENERGY STORAGE SYSTEM MARKET, BY BATTERY TYPE, 2025–2030 (USD BILLION) 148
TABLE 71 ON-GRID: BATTERY ENERGY STORAGE SYSTEM MARKET, BY ENERGY CAPACITY, 2021–2024 (USD BILLION) 148
TABLE 72 ON-GRID: BATTERY ENERGY STORAGE SYSTEM MARKET, BY ENERGY CAPACITY, 2025–2030 (USD BILLION) 149
TABLE 73 OFF-GRID: BATTERY ENERGY STORAGE SYSTEM MARKET, BY BATTERY TYPE, 2021–2024 (USD BILLION) 150
TABLE 74 OFF-GRID: BATTERY ENERGY STORAGE SYSTEM MARKET, BY BATTERY TYPE, 2025–2030 (USD BILLION) 150
TABLE 75 OFF-GRID: BATTERY ENERGY STORAGE SYSTEM MARKET, BY ENERGY CAPACITY, 2021–2024 (USD BILLION) 151
TABLE 76 OFF-GRID: BATTERY ENERGY STORAGE SYSTEM MARKET, BY ENERGY CAPACITY, 2025–2030 (USD BILLION) 151
TABLE 77 BATTERY ENERGY STORAGE SYSTEM MARKET, BY OWNERSHIP,
2021–2024 (USD BILLION) 154
TABLE 78 BATTERY ENERGY STORAGE SYSTEM MARKET, BY OWNERSHIP,
2025–2030 (USD BILLION) 154
TABLE 79 CUSTOMER-OWNED: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY APPLICATION, 2021–2024 (USD BILLION) 156
TABLE 80 CUSTOMER-OWNED: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY APPLICATION, 2025–2030 (USD BILLION) 157
TABLE 81 THIRD-PARTY-OWNED: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY APPLICATION, 2021–2024 (USD BILLION) 157
TABLE 82 THIRD-PARTY-OWNED: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY APPLICATION, 2025–2030 (USD BILLION) 158
TABLE 83 UTILITY-OWNED: BATTERY ENERGY STORAGE SYSTEM MARKET, BY APPLICATION, 2021–2024 (USD BILLION) 158
TABLE 84 UTILITY-OWNED: BATTERY ENERGY STORAGE SYSTEM MARKET, BY APPLICATION, 2025–2030 (USD BILLION) 159
TABLE 85 BATTERY ENERGY STORAGE SYSTEM MARKET, BY ENERGY CAPACITY,
2021–2024 (USD BILLION) 162
TABLE 86 BATTERY ENERGY STORAGE SYSTEM MARKET, BY ENERGY CAPACITY,
2025–2030 (USD BILLION) 162
TABLE 87 BELOW 30 KWH: BATTERY ENERGY STORAGE SYSTEM MARKET, BY BATTERY TYPE, 2021–2024 (USD BILLION) 163
TABLE 88 BELOW 30 KWH: BATTERY ENERGY STORAGE SYSTEM MARKET, BY BATTERY TYPE, 2025–2030 (USD BILLION) 164
TABLE 89 BELOW 30 KWH: BATTERY ENERGY STORAGE SYSTEM MARKET, BY CONNECTION TYPE, 2021–2024 (USD BILLION) 164
TABLE 90 BELOW 30 KWH: BATTERY ENERGY STORAGE SYSTEM MARKET, BY CONNECTION TYPE, 2025–2030 (USD BILLION) 164
TABLE 91 BELOW 30 KWH: BATTERY ENERGY STORAGE SYSTEM MARKET, BY APPLICATION, 2021–2024 (USD BILLION) 164
TABLE 92 BELOW 30 KWH: BATTERY ENERGY STORAGE SYSTEM MARKET, BY APPLICATION, 2025–2030 (USD BILLION) 165
TABLE 93 30 KWH–10 MWH: BATTERY ENERGY STORAGE SYSTEM MARKET, BY BATTERY TYPE, 2021–2024 (USD BILLION) 166
TABLE 94 30 KWH–10 MWH: BATTERY ENERGY STORAGE SYSTEM MARKET, BY BATTERY TYPE, 2025–2030 (USD BILLION) 166
TABLE 95 30 KWH–10 MWH: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY CONNECTION TYPE, 2021–2024 (USD BILLION) 166
TABLE 96 30 KWH–10 MWH: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY CONNECTION TYPE, 2025–2030 (USD BILLION) 166
TABLE 97 30 KWH–10 MWH: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY APPLICATION, 2021–2024 (USD BILLION) 167
TABLE 98 30 KWH–10 MWH: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY APPLICATION, 2025–2030 (USD BILLION) 167
TABLE 99 ABOVE 10 MWH: BATTERY ENERGY STORAGE SYSTEM MARKET, BY BATTERY TYPE, 2021–2024 (USD BILLION) 168
TABLE 100 ABOVE 10 MWH: BATTERY ENERGY STORAGE SYSTEM MARKET, BY BATTERY TYPE, 2025–2030 (USD BILLION) 168
TABLE 101 ABOVE 10 MWH: BATTERY ENERGY STORAGE SYSTEM MARKET, BY CONNECTION TYPE, 2021–2024 (USD BILLION) 168
TABLE 102 ABOVE 10 MWH: BATTERY ENERGY STORAGE SYSTEM MARKET, BY CONNECTION TYPE, 2025–2030 (USD BILLION) 169
TABLE 103 ABOVE 10 MWH: BATTERY ENERGY STORAGE SYSTEM MARKET, BY APPLICATION, 2021–2024 (USD BILLION) 169
TABLE 104 ABOVE 10 MWH: BATTERY ENERGY STORAGE SYSTEM MARKET, BY APPLICATION, 2025–2030 (USD BILLION) 169
TABLE 105 BATTERY ENERGY STORAGE SYSTEM MARKET, BY APPLICATION,
2021–2024 (USD BILLION) 172
TABLE 106 BATTERY ENERGY STORAGE SYSTEM MARKET, BY APPLICATION,
2025–2030 (USD BILLION) 172
TABLE 107 RESIDENTIAL: BATTERY ENERGY STORAGE SYSTEM MARKET, BY BATTERY TYPE, 2021–2024 (USD BILLION) 174
TABLE 108 RESIDENTIAL: BATTERY ENERGY STORAGE SYSTEM MARKET, BY BATTERY TYPE, 2025–2030 (USD BILLION) 174
TABLE 109 RESIDENTIAL: BATTERY ENERGY STORAGE SYSTEM MARKET, BY CONNECTION TYPE, 2021–2024 (USD BILLION) 174
TABLE 110 RESIDENTIAL: BATTERY ENERGY STORAGE SYSTEM MARKET, BY CONNECTION TYPE, 2025–2030 (USD BILLION) 175
TABLE 111 RESIDENTIAL: BATTERY ENERGY STORAGE SYSTEM MARKET, BY ENERGY CAPACITY, 2021–2024 (USD BILLION) 175
TABLE 112 RESIDENTIAL: BATTERY ENERGY STORAGE SYSTEM MARKET, BY ENERGY CAPACITY, 2025–2030 (USD BILLION) 175
TABLE 113 RESIDENTIAL: BATTERY ENERGY STORAGE SYSTEM MARKET, BY OWNERSHIP, 2021–2024 (USD BILLION) 176
TABLE 114 RESIDENTIAL: BATTERY ENERGY STORAGE SYSTEM MARKET, BY OWNERSHIP, 2025–2030 (USD BILLION) 176
TABLE 115 RESIDENTIAL: BATTERY ENERGY STORAGE SYSTEM MARKET, BY REGION,
2021–2024 (USD BILLION) 176
TABLE 116 RESIDENTIAL: BATTERY ENERGY STORAGE SYSTEM MARKET, BY REGION,
2025–2030 (USD BILLION) 176
TABLE 117 COMMERCIAL & INDUSTRIAL: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY BATTERY TYPE, 2021–2024 (USD BILLION) 178
TABLE 118 COMMERCIAL & INDUSTRIAL: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY BATTERY TYPE, 2025–2030 (USD BILLION) 178
TABLE 119 COMMERCIAL & INDUSTRIAL: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY CONNECTION TYPE, 2021–2024 (USD BILLION) 178
TABLE 120 COMMERCIAL & INDUSTRIAL: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY CONNECTION TYPE, 2025–2030 (USD BILLION) 178
TABLE 121 COMMERCIAL & INDUSTRIAL: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY ENERGY CAPACITY, 2021–2024 (USD BILLION) 179
TABLE 122 COMMERCIAL & INDUSTRIAL: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY ENERGY CAPACITY, 2025–2030 (USD BILLION) 179
TABLE 123 COMMERCIAL & INDUSTRIAL: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY OWNERSHIP, 2021–2024 (USD BILLION) 179
TABLE 124 COMMERCIAL & INDUSTRIAL: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY OWNERSHIP, 2025–2030 (USD BILLION) 179
TABLE 125 COMMERCIAL & INDUSTRIAL: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY REGION, 2021–2024 (USD BILLION) 180
TABLE 126 COMMERCIAL & INDUSTRIAL: BATTERY ENERGY STORAGE SYSTEM MARKET,
BY REGION, 2025–2030 (USD BILLION) 180
TABLE 127 UTILITY: BATTERY ENERGY STORAGE SYSTEM MARKET, BY BATTERY TYPE,
2021–2024 (USD BILLION) 181
TABLE 128 UTILITY: BATTERY ENERGY STORAGE SYSTEM MARKET, BY BATTERY TYPE,
2025–2030 (USD BILLION) 181
TABLE 129 UTILITY: BATTERY ENERGY STORAGE SYSTEM MARKET, BY CONNECTION TYPE, 2021–2024 (USD BILLION) 181
TABLE 130 UTILITY: BATTERY ENERGY STORAGE SYSTEM MARKET, BY CONNECTION TYPE, 2025–2030 (USD BILLION) 182
TABLE 131 UTILITY: BATTERY ENERGY STORAGE SYSTEM MARKET, BY ENERGY CAPACITY, 2021–2024 (USD BILLION) 182
TABLE 132 UTILITY: BATTERY ENERGY STORAGE SYSTEM MARKET, BY ENERGY CAPACITY, 2025–2030 (USD BILLION) 182
TABLE 133 UTILITY: BATTERY ENERGY STORAGE SYSTEM MARKET, BY OWNERSHIP,
2021–2024 (USD BILLION) 182
TABLE 134 UTILITY: BATTERY ENERGY STORAGE SYSTEM MARKET, BY OWNERSHIP,
2025–2030 (USD BILLION) 183
TABLE 135 UTILITY: BATTERY ENERGY STORAGE SYSTEM MARKET, BY REGION,
2021–2024 (USD BILLION) 183
TABLE 136 UTILITY: BATTERY ENERGY STORAGE SYSTEM MARKET, BY REGION,
2025–2030 (USD BILLION) 183
TABLE 137 BATTERY ENERGY STORAGE SYSTEM MARKET, BY REGION,
2021–2024 (USD BILLION) 186
TABLE 138 BATTERY ENERGY STORAGE SYSTEM MARKET, BY REGION,
2025–2030 (USD BILLION) 187
TABLE 139 NORTH AMERICA: BATTERY ENERGY STORAGE SYSTEM MARKET, BY COUNTRY, 2021–2024 (USD BILLION) 190
TABLE 140 NORTH AMERICA: BATTERY ENERGY STORAGE SYSTEM MARKET, BY COUNTRY, 2025–2030 (USD BILLION) 190
TABLE 141 NORTH AMERICA: BATTERY ENERGY STORAGE SYSTEM MARKET, BY APPLICATION, 2021–2024 (USD BILLION) 190
TABLE 142 NORTH AMERICA: BATTERY ENERGY STORAGE SYSTEM MARKET, BY APPLICATION, 2025–2030 (USD BILLION) 190
TABLE 143 US: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2021–2024 (USD BILLION) 191
TABLE 144 US: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2025–2030 (USD BILLION) 192
TABLE 145 CANADA: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2021–2024 (USD BILLION) 193
TABLE 146 CANADA: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2025–2030 (USD BILLION) 193
TABLE 147 MEXICO: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2021–2024 (USD BILLION) 194
TABLE 148 MEXICO: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2025–2030 (USD BILLION) 194
TABLE 149 EUROPE: BATTERY ENERGY STORAGE SYSTEM MARKET, BY COUNTRY,
2021–2024 (USD BILLION) 196
TABLE 150 EUROPE: BATTERY ENERGY STORAGE SYSTEM MARKET, BY COUNTRY,
2025–2030 (USD BILLION) 196
TABLE 151 EUROPE: BATTERY ENERGY STORAGE SYSTEM MARKET, BY APPLICATION,
2021–2024 (USD BILLION) 197
TABLE 152 EUROPE: BATTERY ENERGY STORAGE SYSTEM MARKET, BY APPLICATION,
2025–2030 (USD BILLION) 197
TABLE 153 GERMANY: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2021–2024 (USD BILLION) 198
TABLE 154 GERMANY: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2025–2030 (USD BILLION) 198
TABLE 155 UK: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2021–2024 (USD BILLION) 199
TABLE 156 UK: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2025–2030 (USD BILLION) 199
TABLE 157 FRANCE: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2021–2024 (USD BILLION) 200
TABLE 158 FRANCE: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2025–2030 (USD BILLION) 200
TABLE 159 ITALY: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2021–2024 (USD BILLION) 201
TABLE 160 ITALY: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2025–2030 (USD BILLION) 201
TABLE 161 REST OF EUROPE: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2021–2024 (USD BILLION) 202
TABLE 162 REST OF EUROPE: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2025–2030 (USD BILLION) 202
TABLE 163 ASIA PACIFIC: BATTERY ENERGY STORAGE SYSTEM MARKET, BY COUNTRY,
2021–2024 (USD BILLION) 205
TABLE 164 ASIA PACIFIC: BATTERY ENERGY STORAGE SYSTEM MARKET, BY COUNTRY,
2025–2030 (USD BILLION) 205
TABLE 165 ASIA PACIFIC: BATTERY ENERGY STORAGE SYSTEM MARKET, BY APPLICATION, 2021–2024 (USD BILLION) 205
TABLE 166 ASIA PACIFIC: BATTERY ENERGY STORAGE SYSTEM MARKET, BY APPLICATION, 2025–2030 (USD BILLION) 206
TABLE 167 CHINA: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2021–2024 (USD BILLION) 207
TABLE 168 CHINA: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2025–2030 (USD BILLION) 207
TABLE 169 JAPAN: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2021–2024 (USD BILLION) 208
TABLE 170 JAPAN: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2025–2030 (USD BILLION) 208
TABLE 171 SOUTH KOREA: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2021–2024 (USD BILLION) 209
TABLE 172 SOUTH KOREA: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2025–2030 (USD BILLION) 209
TABLE 173 AUSTRALIA: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2021–2024 (USD BILLION) 210
TABLE 174 AUSTRALIA: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2025–2030 (USD BILLION) 210
TABLE 175 INDIA: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2021–2024 (USD BILLION) 213
TABLE 176 INDIA: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2025–2030 (USD BILLION) 214
TABLE 177 REST OF ASIA PACIFIC: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION, 2021–2024 (USD BILLION) 214
TABLE 178 REST OF ASIA PACIFIC: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION, 2025–2030 (USD BILLION) 214
TABLE 179 ROW: BATTERY ENERGY STORAGE SYSTEM MARKET, BY REGION,
2021–2024 (USD BILLION) 216
TABLE 180 ROW: BATTERY ENERGY STORAGE SYSTEM MARKET, BY REGION,
2025–2030 (USD BILLION) 216
TABLE 181 MIDDLE EAST: BATTERY ENERGY STORAGE SYSTEM MARKET, BY COUNTRY, 2021–2024 (USD BILLION) 216
TABLE 182 MIDDLE EAST: BATTERY ENERGY STORAGE SYSTEM MARKET, BY COUNTRY, 2025–2030 (USD BILLION) 216
TABLE 183 ROW: BATTERY ENERGY STORAGE SYSTEM MARKET, BY APPLICATION,
2021–2024 (USD BILLION) 217
TABLE 184 ROW: BATTERY ENERGY STORAGE SYSTEM MARKET, BY APPLICATION,
2025–2030 (USD BILLION) 217
TABLE 185 MIDDLE EAST: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2021–2024 (USD BILLION) 218
TABLE 186 MIDDLE EAST: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2025–2030 (USD BILLION) 218
TABLE 187 AFRICA: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2021–2024 (USD BILLION) 219
TABLE 188 AFRICA: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2025–2030 (USD BILLION) 219
TABLE 189 SOUTH AMERICA: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2021–2024 (USD BILLION) 220
TABLE 190 SOUTH AMERICA: BATTERY ENERGY STORAGE SYSTEM, BY APPLICATION,
2025–2030 (USD BILLION) 220
TABLE 191 BATTERY ENERGY STORAGE SYSTEM MARKET: OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS, JANUARY 2021–SEPTEMBER 2025 221
TABLE 192 BATTERY ENERGY STORAGE SYSTEM MARKET: DEGREE OF COMPETITION, 2024 226
TABLE 193 BATTERY ENERGY STORAGE SYSTEM MARKET: REGION FOOTPRINT 233
TABLE 194 BATTERY ENERGY STORAGE SYSTEM MARKET: BATTERY TYPE FOOTPRINT 234
TABLE 195 BATTERY ENERGY STORAGE SYSTEM MARKET: APPLICATION FOOTPRINT 235
TABLE 196 BATTERY ENERGY STORAGE SYSTEM MARKET: CONNECTION TYPE FOOTPRINT 236
TABLE 197 BATTERY ENERGY STORAGE SYSTEM MARKET: DETAILED LIST
OF KEY STARTUPS/SMES 239
TABLE 198 BATTERY ENERGY STORAGE SYSTEM MARKET: COMPETITIVE
BENCHMARKING OF KEY STARTUPS/SMES, 2024 239
TABLE 199 BATTERY ENERGY STORAGE SYSTEM MARKET: PRODUCT LAUNCHES,
JANUARY 2021–SEPTEMBER 2025 240
TABLE 200 BATTERY ENERGY STORAGE SYSTEM MARKET: DEALS,
JANUARY 2021–SEPTEMBER 2025 242
TABLE 201 BATTERY ENERGY STORAGE SYSTEM MARKET: OTHER DEVELOPMENTS,
JANUARY 2021–SEPTEMBER 2025 246
TABLE 202 TESLA: COMPANY OVERVIEW 247
TABLE 203 TESLA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 248
TABLE 204 SUNGROW: COMPANY OVERVIEW 250
TABLE 205 SUNGROW: PRODUCTS/SOLUTIONS/SERVICES OFFERED 251
TABLE 206 SUNGROW: PRODUCT LAUNCHES 252
TABLE 207 SUNGROW: DEALS 253
TABLE 208 BYD COMPANY LTD.: COMPANY OVERVIEW 255
TABLE 209 BYD COMPANY LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 256
TABLE 210 BYD COMPANY LTD.: DEALS 257
TABLE 211 LG ENERGY SOLUTION: COMPANY OVERVIEW 259
TABLE 212 LG ENERGY SOLUTION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 260
TABLE 213 LG ENERGY SOLUTION: PRODUCT LAUNCHES 261
TABLE 214 LG ENERGY SOLUTION: DEALS 261
TABLE 215 LG ENERGY SOLUTION: OTHER DEVELOPMENTS 262
TABLE 216 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED: COMPANY OVERVIEW 263
TABLE 217 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED 264
TABLE 218 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED: PRODUCT LAUNCHES 265
TABLE 219 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED: DEALS 265
TABLE 220 SAMSUNG SDI: COMPANY OVERVIEW 268
TABLE 221 SAMSUNG SDI: PRODUCTS/SOLUTIONS/SERVICES OFFERED 269
TABLE 222 SAMSUNG SDI: PRODUCT LAUNCHES 270
TABLE 223 ABB: COMPANY OVERVIEW 271
TABLE 224 ABB: PRODUCTS/SOLUTIONS/SERVICES OFFERED 272
TABLE 225 ABB: DEALS 273
TABLE 226 ABB: OTHER DEVELOPMENTS 273
TABLE 227 AB VOLVO: COMPANY OVERVIEW 274
TABLE 228 AB VOLVO: PRODUCTS/SOLUTIONS/SERVICES OFFERED 275
TABLE 229 DELTA ELECTRONICS, INC.: COMPANY OVERVIEW 276
TABLE 230 DELTA ELECTRONICS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 277
TABLE 231 GE VERNOVA: COMPANY OVERVIEW 278
TABLE 232 GE VERNOVA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 279
TABLE 233 GE VERNOVA: PRODUCT LAUNCHES 280
TABLE 234 GE VERNOVA: DEALS 280
TABLE 235 GOTION: COMPANY OVERVIEW 281
TABLE 236 GOTION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 282
TABLE 237 GOTION: DEALS 283
TABLE 238 HONEYWELL INTERNATIONAL INC.: COMPANY OVERVIEW 284
TABLE 239 HONEYWELL INTERNATIONAL INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 285
TABLE 240 HONEYWELL INTERNATIONAL INC.: DEVELOPMENTS 286
TABLE 241 NGK INSULATORS, LTD.: COMPANY OVERVIEW 287
TABLE 242 NGK INSULATORS, LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 288
TABLE 243 NGK INSULATORS, LTD.: PRODUCT LAUNCHES 289
TABLE 244 NGK INSULATORS, LTD.: DEALS 289
TABLE 245 PANASONIC CORPORATION: COMPANY OVERVIEW 291
TABLE 246 PANASONIC CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 292
TABLE 247 PANASONIC CORPORATION: PRODUCT LAUNCHES 293
TABLE 248 SIEMENS ENERGY: COMPANY OVERVIEW 294
TABLE 249 SIEMENS ENERGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED 295
TABLE 250 TOSHIBA CORPORATION COMPANY OVERVIEW 296
TABLE 251 TOSHIBA CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 297
TABLE 252 THE AES CORPORATION: COMPANY OVERVIEW 298
TABLE 253 TRINASOLAR: COMPANY OVERVIEW 299
TABLE 254 AEG: COMPANY OVERVIEW 300
TABLE 255 EAST PENN MANUFACTURING COMPANY: COMPANY OVERVIEW 301
TABLE 256 ESS TECH, INC.: COMPANY OVERVIEW 302
TABLE 257 FARADION: COMPANY OVERVIEW 303
TABLE 258 KORE POWER, INC.: COMPANY OVERVIEW 304
TABLE 259 PRIMUS POWER SOLUTIONS: COMPANY OVERVIEW 305
TABLE 260 SAFT: COMPANY OVERVIEW 306
TABLE 261 VRB ENERGY: COMPANY OVERVIEW 307
LIST OF FIGURES
FIGURE 1 BATTERY ENERGY STORAGE SYSTEM MARKET SEGMENTATION
AND REGIONAL SCOPE 31
FIGURE 2 DURATION COVERED 32
FIGURE 3 BATTERY ENERGY STORAGE SYSTEM MARKET: RESEARCH DESIGN 36
FIGURE 4 BATTERY ENERGY STORAGE SYSTEM MARKET: RESEARCH APPROACH 37
FIGURE 5 DATA CAPTURED FROM SECONDARY SOURCES 39
FIGURE 6 CORE FINDINGS FROM INDUSTRY EXPERTS 41
FIGURE 7 BREAKDOWN OF PRIMARY INTERVIEWS, BY COMPANY TYPE,
DESIGNATION, AND REGION 41
FIGURE 8 BATTERY ENERGY STORAGE SYSTEM MARKET: TOP-DOWN APPROACH 43
FIGURE 9 BATTERY ENERGY STORAGE SYSTEM MARKET: BOTTOM-UP APPROACH 44
FIGURE 10 BATTERY ENERGY STORAGE SYSTEM MARKET SIZE ESTIMATION
METHODOLOGY (SUPPLY SIDE) 44
FIGURE 11 BATTERY ENERGY STORAGE SYSTEM MARKET: DATA TRIANGULATION 45
FIGURE 12 BATTERY ENERGY STORAGE SYSTEM MARKET: RESEARCH ASSUMPTIONS 46
FIGURE 1 BATTERY ENERGY STORAGE SYSTEM MARKET SIZE, 2021–2030 48
FIGURE 2 LITHIUM-ION BATTERY SEGMENT TO RECORD LARGEST MARKET SHARE IN 2025 49
FIGURE 3 ON-GRID SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2030 49
FIGURE 4 UTILITY SEGMENT TO DOMINATE BATTERY ENERGY STORAGE SYSTEM MARKET BETWEEN 2025 AND 2030 50
FIGURE 5 ASIA PACIFIC TO REGISTER HIGHEST CAGR IN BATTERY ENERGY STORAGE SYSTEM MARKET DURING FORECAST PERIOD 51
FIGURE 6 INCREASING ADOPTION OF RENEWABLE ENERGY SOURCES TO
FOSTER MARKET GROWTH 52
FIGURE 7 LITHIUM-ION BATTERY TYPE SEGMENT TO HOLD LARGEST MARKET
SHARE IN 2030 53
FIGURE 8 ABOVE 10 MWH SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2030 53
FIGURE 9 UTILITY APPLICATION SEGMENT AND CHINA TO HOLD LARGEST SHARES OF ASIA PACIFIC BATTERY ENERGY STORAGE SYSTEM MARKET IN 2030 54
FIGURE 10 INDIA TO EXHIBIT HIGHEST CAGR IN GLOBAL BATTERY ENERGY STORAGE SYSTEM MARKET FROM 2025 TO 2030 54
FIGURE 11 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 55
FIGURE 12 IMPACT ANALYSIS: DRIVERS 58
FIGURE 13 IMPACT ANALYSIS: RESTRAINTS 59
FIGURE 14 IMPACT ANALYSIS: OPPORTUNITIES 61
FIGURE 15 IMPACT ANALYSIS: CHALLENGES 63
FIGURE 16 TRENDS/DISRUPTIONS INFLUENCING CUSTOMER BUSINESS 63
FIGURE 17 VALUE CHAIN ANALYSIS 65
FIGURE 18 BATTERY ENERGY STORAGE SYSTEM ECOSYSTEM 67
FIGURE 19 INVESTMENT AND FUNDING SCENARIO, 2020–2024 69
FIGURE 20 PATENTS APPLIED AND GRANTED, 2015–2024 73
FIGURE 21 IMPORT DATA FOR HS CODE 850650-COMPLIANT PRODUCTS FOR TOP FIVE COUNTRIES, 2020–2024 75
FIGURE 22 EXPORT DATA FOR HS CODE 850650-COMPLIANT PRODUCTS FOR
TOP FIVE COUNTRIES, 2020–2024 76
FIGURE 23 PORTER’S FIVE FORCES ANALYSIS 84
FIGURE 24 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION 86
FIGURE 25 KEY BUYING CRITERIA, BY APPLICATION 87
FIGURE 26 AVERAGE SELLING PRICE TREND OF LITHIUM-ION BATTERY PACKS, 2021–2024 89
FIGURE 27 AVERAGE SELLING PRICE OF LITHIUM-ION BATTERY PACKS OFFERED BY KEY PLAYERS, 2024 90
FIGURE 28 AVERAGE SELLING PRICE TREND OF LITHIUM-ION BATTERIES IN VARIOUS REGIONS, 2021–2024 91
FIGURE 29 KEY AI/GEN AI USE CASES IN BATTERY ENERGY STORAGE SYSTEM MARKET 93
FIGURE 30 BATTERY ENERGY STORAGE SYSTEM MARKET, BY BATTERY TYPE 126
FIGURE 31 LITHIUM-ION BATTERY SEGMENT TO DOMINATE MARKET
DURING FORECAST PERIOD 127
FIGURE 32 IMPORTANCE OF BATTERY ENERGY STORAGE SYSTEMS IN GRID CONNECTIONS 144
FIGURE 33 APPLICATIONS OF BATTERY ENERGY STORAGE SYSTEMS IN GRIDS 145
FIGURE 34 ON-GRID CONNECTIONS SEGMENT TO REGISTER HIGHER CAGR FROM
2025 TO 2030 145
FIGURE 35 ON-GRID CONNECTIONS 147
FIGURE 36 BASIC OFF-GRID SYSTEMS 150
FIGURE 37 BATTERY ENERGY STORAGE SYSTEM MARKET, BY OWNERSHIP 153
FIGURE 38 UTILITY-OWNED SEGMENT TO CAPTURE LARGEST MARKET SHARE IN 2030 154
FIGURE 39 LAYOUT OF BATTERY ENERGY STORAGE SYSTEM INSTALLATION IN
RESIDENTIAL AREAS 156
FIGURE 40 BATTERY ENERGY STORAGE SYSTEM MARKET, BY ENERGY CAPACITY 161
FIGURE 41 ABOVE 10 MWH SEGMENT TO REGISTER HIGHEST CAGR BETWEEN
2025 AND 2030 162
FIGURE 42 BATTERY ENERGY STORAGE SYSTEM MARKET, BY APPLICATION 171
FIGURE 43 UTILITY SEGMENT TO BE LARGEST-GROWING SEGMENT IN 2030 171
FIGURE 44 TESLA POWERWALL INSTALLED FOR RESIDENTIAL APPLICATIONS 173
FIGURE 45 BATTERY ENERGY STORAGE SYSTEM MARKET, BY REGION 185
FIGURE 46 INDIA TO REGISTER HIGHEST CAGR IN GLOBAL BATTERY ENERGY STORAGE SYSTEM MARKET BETWEEN 2025 AND 2030 186
FIGURE 47 NORTH AMERICA: BATTERY ENERGY STORAGE SYSTEM MARKET SNAPSHOT 189
FIGURE 48 US TO DOMINATE MARKET DURING FORECAST PERIOD 189
FIGURE 49 EUROPE: BATTERY ENERGY STORAGE SYSTEM MARKET SNAPSHOT 195
FIGURE 50 GERMANY TO DOMINATE EUROPEAN BATTERY ENERGY STORAGE SYSTEM MARKET FROM 2025 TO 2030 196
FIGURE 51 ASIA PACIFIC: BATTERY ENERGY STORAGE SYSTEM MARKET SNAPSHOT 204
FIGURE 52 INDIA TO EXHIBIT AT HIGHEST CAGR IN ASIA PACIFIC BATTERY ENERGY STORAGE SYSTEM MARKET DURING FORECAST PERIOD 204
FIGURE 53 SOUTH AMERICA TO HOLD LARGEST MARKET SHARE IN ROW
DURING FORECAST PERIOD 215
FIGURE 54 BATTERY ENERGY STORAGE SYSTEM MARKET: REVENUE ANALYSIS
OF TOP FIVE PLAYERS, 2020–2024 224
FIGURE 55 MARKET SHARE ANALYSIS OF COMPANIES OFFERING BATTERY
ENERGY STORAGE SYSTEMS, 2024 225
FIGURE 56 COMPANY VALUATION 228
FIGURE 57 FINANCIAL METRICS (EV/EBITDA) 228
FIGURE 58 BRAND/PRODUCT COMPARISON 229
FIGURE 59 BATTERY ENERGY STORAGE SYSTEM MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2024 231
FIGURE 60 BATTERY ENERGY STORAGE SYSTEM MARKET: COMPANY FOOTPRINT 232
FIGURE 61 BATTERY ENERGY STORAGE SYSTEM MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2024 238
FIGURE 62 TESLA: COMPANY SNAPSHOT 248
FIGURE 63 SUNGROW: COMPANY SNAPSHOT 251
FIGURE 64 BYD COMPANY LTD.: COMPANY SNAPSHOT 256
FIGURE 65 LG ENERGY SOLUTION: COMPANY SNAPSHOT 260
FIGURE 66 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED: COMPANY SNAPSHOT 264
FIGURE 67 SAMSUNG SDI: COMPANY SNAPSHOT 269
FIGURE 68 ABB: COMPANY SNAPSHOT 272
FIGURE 69 AB VOLVO: COMPANY SNAPSHOT 275
FIGURE 70 DELTA ELECTRONICS, INC.: COMPANY SNAPSHOT 277
FIGURE 71 GE VERNOVA: COMPANY SNAPSHOT 279
FIGURE 72 GOTION: COMPANY SNAPSHOT 282
FIGURE 73 HONEYWELL INTERNATIONAL INC.: COMPANY SNAPSHOT 285
FIGURE 74 NGK INSULATORS, LTD.: COMPANY SNAPSHOT 288
FIGURE 75 PANASONIC CORPORATION: COMPANY SNAPSHOT 292
FIGURE 76 SIEMENS ENERGY: COMPANY SNAPSHOT 295
FIGURE 77 TOSHIBA CORPORATION: COMPANY SNAPSHOT 297
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