Mexico Energy Storage Systems Market Size & Outlook
Mexico energy storage systems market, 2018-2030 (US$M)
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Mexico energy storage systems market highlights
- The Mexico energy storage systems market generated a revenue of USD 234.1 million in 2022 and is expected to reach USD 693.1 million by 2030.
- The Mexico market is expected to grow at a CAGR of 14.5% 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 234.1 million |
| Market revenue in 2030 | USD 693.1 million |
| Growth rate | 14.5% (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, Mexico accounted for 0.1% 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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Mexico 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 72.96% in 2022. Horizon Databook has segmented the Mexico energy storage systems market based on pumped hydro, advanced covering the revenue growth of each sub-segment from 2018 to 2030.
Mexico government has set up ambitious goal to reduce carbon emissions by targeting to have 35% of power generation from clean energy sources by 2035 and to make it 50% by 2050. Further, initiatives have taken by government to increase energy conservation and energy efficiency practices. These factors will result to boost the growth of market the country in the forecast period.
Similarly, in September 2019 ON Energy Storage, a developer of battery energy storage systems, announced the successful installation of 30kW/60kWh system for a commercial site located in Tehuacan, Puebla in Mexico. These factors and developments are expected to increase the adoption of these systems in the country in the coming years.
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Our clientele includes a mix of energy storage systems market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Mexico energy storage systems market , including forecasts for subscribers. This country databook contains high-level insights into Mexico energy storage systems market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico energy storage systems market size, by technology, 2018-2030 (US$M)
Mexico Energy Storage Systems Market Outlook Share, 2022 & 2030 (US$M)
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