U.S. Energy Storage Systems Market Size & Outlook
U.S. energy storage systems market, 2018-2030 (US$M)
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U.S. energy storage systems market highlights
- The U.S. energy storage systems market generated a revenue of USD 27,569.1 million in 2022 and is expected to reach USD 65,319.5 million by 2030.
- The U.S. market is expected to grow at a CAGR of 11.4% from 2023 to 2030.
- In terms of segment, pumped hydro was the largest revenue generating technology in 2022.
- Pumped Hydro 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 27,569.1 million |
| Market revenue in 2030 | USD 65,319.5 million |
| Growth rate | 11.4% (CAGR from 2022 to 2030) |
| Largest segment | Pumped hydro |
| Fastest growing segment | Pumped Hydro |
| 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, U.S. accounted for 12.4% 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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U.S. 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 85.85% in 2022. Horizon Databook has segmented the U.S. energy storage systems market based on pumped hydro, advanced covering the revenue growth of each sub-segment from 2018 to 2030.
A rise in the integration of energy storage systems with existing and new projects of renewable power sources such as solar and wind power is expected to lead to the growth of the market. Further, power utilities in the region are expected to emerge as the major end-user industry by deploying large-scale installation of storage systems for frequency regulation and grid balancing applications over the forecast period.
For instance, U.S. Department of Energy in October 2018 provided research fund of around USD 12.73 million cumulatively for thermal energy storage projects and studies to Michigan State University, National Renewable Energy Laboratory, Brayton Energy, LLC, Echogen Power Systems (DE) Inc., and Antora Energy.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. energy storage systems market , including forecasts for subscribers. This country databook contains high-level insights into U.S. energy storage systems market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. energy storage systems market size, by technology, 2018-2030 (US$M)
U.S. Energy Storage Systems Market Outlook Share, 2022 & 2030 (US$M)
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