Global Battery Energy Storage Systems Market Size & Outlook
Global battery energy storage systems market, 2018-2030 (US$M)
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Global battery energy storage systems market highlights
- The global battery energy storage systems market generated a revenue of USD 7,972.9 million in 2023 and is expected to reach USD 58,761.5 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 33% by 2030.
- In terms of segment, commercial accounted for a revenue of USD 5,744.0 million in 2023.
- Residential is the most lucrative application segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
- Country-wise, France is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 7,972.9 million |
| Market revenue in 2030 | USD 58,761.5 million |
| Growth rate | 33% (CAGR from 2023 to 2030) |
| Largest segment | Commercial |
| Fastest growing segment | Residential |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Residential, Commercial, Industrial |
Other key industry trends
- In terms of revenue, the North America accounted for 20.7% of the global battery energy storage systems market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, France is the fastest growing regional market and is projected to reach USD 802.5 million by 2030.
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Battery Energy Storage Systems Market Scope
Battery Energy Storage Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global battery energy storage systems market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to battery energy storage systems market will help companies and investors design strategic landscapes.
Commercial was the largest segment with a revenue share of 72.04% in 2023. Horizon Databook has segmented the Global battery energy storage systems market based on residential, commercial, industrial covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Battery Energy Storage Systems Application Outlook (Revenue, USD Million, 2018-2030)
- Residential
- Commercial
- Industrial
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Horizon Databook provides a detailed overview of global-level data and insights on the Global battery energy storage systems market , including forecasts for subscribers. This global databook contains high-level insights into Global battery energy storage systems market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global battery energy storage systems market size, by regions, 2018-2030 (US$M)
Top 10 countries: Battery energy storage systems market size, 2023 (US$M)
Global battery energy storage systems market share, by application, 2023 & 2030 (%, US$M)
Battery energy storage systems market: Opportunity assessment by country
Global battery energy storage systems market, by region, 2023 (US$M)
| Application | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 631.3 | 752.7 | 812.3 | 1,001.2 | 1,331.4 | 1,647.2 | 2,067.1 | 2,634.7 | 3,415.6 | 4,509.5 | 6,010.3 | 8,024.4 | 10,720.9 | 30.7% |
| Europe | 623.5 | 738.6 | 791.8 | 969.3 | 1,279.6 | 1,571.4 | 1,956.6 | 2,473.6 | 3,179.7 | 4,161.0 | 5,494.6 | 7,265.0 | 9,608.0 | 29.5% |
| Asia Pacific | 1,170.9 | 1,432.4 | 1,586.7 | 2,007.4 | 2,740.4 | 3,481.3 | 4,486.4 | 5,873.8 | 7,823.3 | 10,614.1 | 14,540.6 | 19,959.0 | 27,422.2 | 34.3% |
| Latin America | 209.8 | 261.5 | 294.8 | 379.5 | 526.8 | 680.0 | 889.9 | 1,182.7 | 1,598.1 | 2,198.6 | 3,052.9 | 4,245.7 | 5,907.7 | 36.2% |
| MEA | 184.7 | 229.7 | 258.5 | 332.1 | 460.2 | 593.0 | 774.9 | 1,028.3 | 1,387.5 | 1,906.2 | 2,643.5 | 3,671.7 | 5,102.8 | 36.0% |
| Overall | 2,820.1 | 3,414.8 | 3,744.2 | 4,689.5 | 6,338.3 | 7,972.9 | 10,174.9 | 13,193.0 | 17,404.1 | 23,389.5 | 31,741.9 | 43,165.8 | 58,761.6 | 33.0% |
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