The Global Energy Storage Components Market size is valued at nearly USD 58.41 Billion in 2024 & is predicted to reach about USD 114.01 Billion by 2030. Along with this, the market is also estimated to grow at a CAGR of around 14.31% during the forecast period, i.e., 2025-30. According to MarkNtel Advisors Study.
Global Energy Storage Components Market Driver:
Growing Adoption of Renewable Energy Storage – The Energy Storage Market has been significantly propelled by the expanding adoption of renewable energy sources, notably solar & wind, in recent years. The intermittent nature of these renewable sources necessitates the usage of energy storage systems to capture surplus energy during periods of high generation & release it when demand peaks, ensuring a more dependable & consistent supply of renewable energy. The growing prevalence of renewable energy sources, marked by their intermittency & variability, has resulted in a supplemented need for energy storage solutions.
Moreover, the integration of large-scale renewable energy into power grids has introduced challenges related to grid stability, voltage control, and frequency regulation. Energy storage systems offer a viable solution by allowing grid operators to mitigate fluctuations in power generation and consumption, thereby enhancing grid stability and facilitating the seamless integration of renewables. As Europe, the Middle East, and the Asia-Pacific region embark on ambitious renewable energy projects to meet their clean energy targets, the demand for energy storage systems is expected to witness a notable upswing in the forecast period.
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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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Global Energy Storage Components Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2024
-Historical Period: 2020 to 2023
-Forecast Period: 2025 to 2030
- By Type
- Battery- Market Size & Forecast 2020-2030, USD Billion
- Lithium-ion Batteries- Market Size & Forecast 2020-2030, USD Billion
- Lead-acid Batteries- Market Size & Forecast 2020-2030, USD Billion
- Redox Flow Batteries- Market Size & Forecast 2020-2030, USD Billion
- Pumped Storage Hydropower – Market Size & Forecast 2020-2030, USD Billion
- Compressed Air Energy Storage – Market Size & Forecast 2020-2030, USD Billion
- Gravity-based Energy Storage – Market Size & Forecast 2020-2030, USD Billion
- Liquid Air Energy Storage (LAES) – Market Size & Forecast 2020-2030, USD Billion
- Flywheel Energy Storage (FES) – Market Size & Forecast 2020-2030, USD Billion
- Battery- Market Size & Forecast 2020-2030, USD Billion
- By End User
- Residential- Market Size & Forecast 2020-2030, USD Billion
- Commercial – Market Size & Forecast 2020-2030, USD Billion
- Utilities- Market Size & Forecast 2020-2030, USD Billion
- By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – Contemporary Amperex Technology Ltd, NextEra Energy, Toshiba Corporation, GS Yuasa Corporation, Siemens, ABB, LG Chem., Voith GmbH & Co. KGaA, Hitachi Energy, Mitsubishi Electric Corporation, Tesla, Samsung SDI, UniEnergy Technologies, LLC, General Electric, ANDRITZ HYDRO GmbH, Others are looking forward to strengthening their market positions.
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Global Energy Storage Components Industry Recent Development:
2025: Contemporary Amperex Technology Co., Limited (CATL) introduces sodium-ion batteries. This development marks a strategic expansion to provide sustainable energy alternatives. Sodium-ion technology offers a promising shift from Lithium-ion solutions, aiming to diversify and enhance energy storage systems.
2024: NextEra Energy Resources LLC, a subsidiary of NextEra Energy Inc. and Entergy announced a joint development agreement that will accelerate the development of up to 4.5 gigawatts (GW) of new solar generation and energy storage projects. The agreement represents significant progress toward Entergy’s growing portfolio of renewable generation.
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