Energy Storage System Market Size & Share, by Technology (Pumped Hydro Storage, Compressed Air, Battery Energy, Flywheel Storage); Component (Sodium Sulfur, Lithium, Lead Acid, Nickel Cadmium); Application (Grid Storage, Transportation); End-user (Residential, Non-Residential, Utility) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 3963
  • Published Date: Mar 01, 2023
  • Report Format: PDF, PPT

Companies Dominating the Energy Storage System Landscape

    • East Penn Manufacturing Co., Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional P

Browse Key Market Insights with Data Illustration:


In The News

  • LG Chem, Ltd. to make a substantial equity investment in North America’s largest battery recycling company, ‘Li-Cycle’. LG Chem and LG Energy Solution is estimated to also supply 20,000 tons of nickel for recycling, over ten years’ period starting in 2023.

  • Electrovaya Inc. entered into a strategic supply agreement with the Raymond Corporation for the supply of battery systems for Raymond’s energy essentials battery line.

Author Credits:  Payel Roy, Dhruv Bhatia

  • Report ID: 3963
  • Published Date: Mar 01, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Worldwide growing demand for energy, an upsurge in investments in renewable energy, and massive surge in the demand for batteries are the major factors driving the market growth.

The market is anticipated to attain a CAGR of 6% over the forecast period, i.e., 2023-2035.

Extreme expenditure requirement for installation of battery energy storage systems, and need for high initial investments for the production of flow batteries are estimated to be the growth hindering factors for the market expansion.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are East Penn Manufacturing Co., Inc., Electrovaya Inc., Langley Holdings PLC, LG Chem, Ltd., Hitachi, Ltd., The General Electric Company, ABB Ltd, NEC Corporation, and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by technology, component, application, end-user, and by region.

The pumped hydro storage segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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