Asia Pacific Energy Storage Systems Market Size & Outlook
Asia Pacific energy storage systems market, 2018-2030 (US$M)
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Asia Pacific energy storage systems market highlights
- The Asia Pacific energy storage systems market generated a revenue of USD 104,420.5 million in 2022.
- The market is expected to grow at a CAGR of 11.3% from 2023 to 2030.
- In terms of segment, pumped hydro was the largest revenue generating technology in 2022.
- Advanced is the most lucrative technology segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2023 to 2030.
Asia Pacific data book summary
| Market revenue in 2022 | USD 104,420.5 million |
| Market revenue in 2030 | USD 245,500.1 million |
| Growth rate | 11.3% (CAGR from 2022 to 2030) |
| Largest segment | Pumped hydro |
| Fastest growing segment | Advanced |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Pumped Hydro, Advanced |
| Key market players worldwide | Altair Engineering Inc Class A, Ecolab Inc, Electrovaya Inc, GE Aerospace, Longfor Group Holdings Ltd, LG Chem, Safety Insurance Group Inc, Showa Paxxs Corp, Furukawa Battery Co Ltd, Fluence Energy Inc, Samsung SDI Co Ltd GDR - 144A |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 46.9% of the global energy storage systems market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 84,397.0 million by 2030.
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Energy Storage Systems Market Scope
Energy Storage Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific 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 energy storage systems market will help companies and investors design strategic landscapes.
Pumped hydro was the largest segment with a revenue share of 98.9% in 2022. Horizon Databook has segmented the Asia Pacific energy storage systems market based on pumped hydro, advanced covering the revenue growth of each sub-segment from 2018 to 2030.
According to GSMA, Asia Pacific has one of the highest mobile connectivity index due to improved infrastructure and affordable data plans. As a result of lockdowns, most of the population has turned to the internet to gain access to online education, maintain a communal interaction, and safeguard a limited level of economic activity.
The demand for connectivity has surged due to pandemic, which has created network congestion as a result of mismatch between network supply and demand, resulting in power outages. Also, growing urbanization and rising population have driven mobile network subscriptions, which can pose a significant challenge for the mobile network operators to maintain uninterrupted signal flow.
Lack of infrastructure to support the ever-increasing demand for connectivity can fuel the utilization of batteries that are used as energy storage systems for the wireless cell sites market as a backup power supply source.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific energy storage systems market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific energy storage systems market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific energy storage systems market size, by country, 2018-2030 (US$M)
Asia Pacific Energy Storage Systems Market Outlook Share, 2022 & 2030 (US$M)
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