UK Energy Storage Systems Market Size & Outlook, 2022-2030
UK energy storage systems market, 2018-2030 (US$M)
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UK energy storage systems market highlights
- The UK energy storage systems market generated a revenue of USD 3,989.3 million in 2022 and is expected to reach USD 9,027.3 million by 2030.
- The UK market is expected to grow at a CAGR of 10.7% 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 3,989.3 million |
| Market revenue in 2030 | USD 9,027.3 million |
| Growth rate | 10.7% (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, UK accounted for 1.8% 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 Europe, Germany energy storage systems market is projected to lead the regional market in terms of revenue in 2030.
- UK is the fastest growing regional market in Europe and is projected to reach USD 9,027.3 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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UK 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 83.13% in 2022. Horizon Databook has segmented the UK energy storage systems market based on pumped hydro, advanced covering the revenue growth of each sub-segment from 2018 to 2030.
The Engineering and Physical Sciences Research Council (EPSRC), UK, established the SUPERGEN Energy Storage Hub, for the research & development in energy storage technologies. The organization comprises of the participation of 7 universities & 14 companies.
The various companies involved in this organization include, EDF Energy, High view Power Storage, National Grid, Scottish & Southern Energy (SSE), UK Power Networks, PNU Power, Johnson Matthey, GDF SUEZ (UK), Department for Transport UK, Sharp Laboratories of Europe Ltd., Nexeon Ltd., Jaguar Land Rover, Energy Technologies Institute (ETI), and Arup (Ove Arup and Partner Ltd.) UK.
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Horizon Databook provides a detailed overview of country-level data and insights on the UK energy storage systems market , including forecasts for subscribers. This country databook contains high-level insights into UK energy storage systems market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK energy storage systems market size, by technology, 2018-2030 (US$M)
UK Energy Storage Systems Market Outlook Share, 2022 & 2030 (US$M)
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