Saudi Arabia Battery Energy Storage Systems Market Size & Outlook
Saudi Arabia battery energy storage systems market, 2018-2030 (US$M)
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Saudi Arabia battery energy storage systems market highlights
- The Saudi Arabia battery energy storage systems market generated a revenue of USD 197.6 million in 2023 and is expected to reach USD 1,693.2 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 35.9% from 2024 to 2030.
- In terms of segment, commercial was the largest revenue generating application in 2023.
- Residential is the most lucrative application segment registering the fastest growth during the forecast period.
Battery energy storage systems market data book summary
| Market revenue in 2023 | USD 197.6 million |
| Market revenue in 2030 | USD 1,693.2 million |
| Growth rate | 35.9% (CAGR from 2023 to 2030) |
| Largest segment | Commercial |
| Fastest growing segment | Residential |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Residential, Commercial, Industrial |
| Key market players worldwide | ABB Ltd, Panasonic Holdings Corp, Samsung Electronics Co Ltd, BYD Co Ltd ADR, EnerSys, Nissan Motor Co Ltd, The AES Corp, Tesla Inc, GE Vernova Inc, LG Chem, HOPPECKE Batteries |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 2.5% of the global battery energy storage systems market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, UAE battery energy storage systems market is projected to lead the regional market in terms of revenue in 2030.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 3,073.5 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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Saudi Arabia 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 72.32% in 2023. Horizon Databook has segmented the Saudi Arabia battery energy storage systems market based on residential, commercial, industrial covering the revenue growth of each sub-segment from 2018 to 2030.
- Saudi Arabia 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 country-level data and insights on the Saudi Arabia battery energy storage systems market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia battery energy storage systems market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia battery energy storage systems market size, by application, 2018-2030 (US$M)
Saudi Arabia Battery Energy Storage Systems Market Outlook Share, 2023 & 2030 (US$M)
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