The Market Reports

Synopsis

The global market for Battery Energy Storage System was estimated to be worth US$ 22960 million in 2024 and is forecast to a readjusted size of US$ 76480 million by 2031 with a CAGR of 18.0% during the forecast period 2025-2031.

Battery Energy Storage Systems, or BESS, are rechargeable batteries that can store energy from different sources and discharge it when needed. BESS consist of one or more batteries and can be used to balance the electric grid, provide backup power and improve grid stability.

The Battery Energy Storage System (BESS) market refers to the industry focused on the deployment, development, and operation of systems that store electrical energy using batteries. These systems are crucial for improving grid stability, supporting renewable energy integration, and offering backup power solutions. The increasing reliance on renewable energy sources like wind and solar, which are intermittent, drives the demand for BESS to store excess energy and release it when generation is low.

Aging grid infrastructure needs upgrades for better reliability and efficiency, and BESS provides an essential role in stabilizing the grid and balancing supply and demand. With growing concerns over power outages, BESS provides backup energy for homes, businesses, and critical infrastructure. The U.S. is a key player in the BESS market, driven by large-scale renewable energy projects, government policies, and electric vehicle adoption. Countries like Germany, the UK, and Spain are investing heavily in energy storage to complement their renewable energy targets. China and Japan lead the market, with substantial investments in grid stability, renewable energy integration, and energy storage technology. Increasing demand for energy storage due to energy diversification and renewable energy growth. The global BESS market is expected to continue growing rapidly, driven by the need for energy storage solutions that help manage intermittent renewable power and ensure grid stability. With further advancements in battery technology and decreasing costs, energy storage will become more accessible for a wider range of applications, from utility-scale projects to residential use.

This report aims to provide a comprehensive presentation of the global market for Battery Energy Storage System, focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of Battery Energy Storage System by region & country, by Type, and by Application.

The Battery Energy Storage System market size, estimations, and forecasts are provided in terms of sales volume (MWh) and sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Battery Energy Storage System.

Market Segmentation

By Company

• CATL
• Samsung SDI
• LG
• Tesla
• Fluence
• Great Power
• BYD
• EVE
• Panasonic
• Saft Group
• Pylon Technologies
• Hitachi
• Kokam
• Toshiba
• Gotion
• CALB
• Narada

Segment by Type

• Lithium
• Lead Acid
• NaS
• Other

Segment by Application

• Residential
• Utility & Commercial

Segment by Region

• North America: United States, Canada, and Mexico
• Europe: United Kingdom, Germany, France, Spain, Italy, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, and Rest of Asia Pacific
• Middle East & Africa: Saudi Arabia, South Africa, and Rest of MEA
• Latin America: Brazil, Argentina, and Rest of Latin America

*If you need a regional or country-specific version, or customized segmentation, we can tailor the report to your requirements.