Canada Energy Storage Systems Market Size & Outlook
Canada energy storage systems market, 2018-2030 (US$M)
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Canada energy storage systems market highlights
- The Canada energy storage systems market generated a revenue of USD 5,704.0 million in 2022 and is expected to reach USD 18,384.3 million by 2030.
- The Canada market is expected to grow at a CAGR of 15.8% 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.
Energy storage systems market data book summary
| Market revenue in 2022 | USD 5,704.0 million |
| Market revenue in 2030 | USD 18,384.3 million |
| Growth rate | 15.8% (CAGR from 2022 to 2030) |
| Largest segment | Pumped hydro |
| Fastest growing segment | Advanced |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 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, Canada accounted for 2.6% of the global energy storage systems market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. energy storage systems market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 18,384.3 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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Canada 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 72.95% in 2022. Horizon Databook has segmented the Canada energy storage systems market based on pumped hydro, advanced covering the revenue growth of each sub-segment from 2018 to 2030.
The federal department of Canada offer funds for setting up clean energy technology plants & power stations under Sustainable Development Technology Canada (SDTC), Infrastructure Canada, and Industrial Research Assistance Program (IRAP).
The Canada’s Energy Innovation Program (EIP), under the implementing agreement on renewable energy technology deployment, encourages the collaboration of private, public, and governmental organizations to gather resources and thus increase the R&D pertaining to clean energy technologies.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada energy storage systems market , including forecasts for subscribers. This country databook contains high-level insights into Canada energy storage systems market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada energy storage systems market size, by technology, 2018-2030 (US$M)
Canada Energy Storage Systems Market Outlook Share, 2022 & 2030 (US$M)
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