Dublin, March 28, 2025 (GLOBE NEWSWIRE) — The “Grid-Connected Energy Storage – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Grid-Connected Energy Storage was valued at US$2.8 Billion in 2024 and is projected to reach US$9.4 Billion by 2030, growing at a CAGR of 22.3% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Grid-connected energy storage systems (ESS) are becoming increasingly pivotal in the integration and stabilization of renewable energy sources within power grids. As the global shift towards renewables like wind and solar accelerates, the variability of these energy sources poses unique challenges, such as managing the inconsistency between peak demand times and renewable energy production.
ESS are crucial for enabling renewable energy to function as reliable, baseload generation sources. These systems provide essential flexibility and resilience to the grid, which is critical in the face of climate change-induced extreme weather events and aging grid infrastructures. This flexibility is instrumental in allowing utilities to meet ambitious decarbonization goals effectively, particularly through legislative support such as the Inflation Reduction Act of 2022, which extends tax credits and introduces technology-neutral incentives for renewable energy projects.
The capacity of ESS to store excess energy during periods of low demand and release it during peak times is critical for balancing the supply and demand of energy, thereby enhancing grid reliability and efficiency. This capability addresses the so-called ‘duck curve’ problem, where there is a mismatch between renewable energy production and peak demand times. Emerging business models like energy storage as a service (ESaaS) and capacity contracts are further expanding the potential applications of ESS. These models offer versatile solutions that can meet a broad range of grid needs, from reducing peak demand to facilitating smoother integration of renewable energy sources, thereby demonstrating the growing versatility and necessity of energy storage in contemporary energy systems.
The expansion of the grid-connected energy storage market is driven by several critical factors. Firstly, the increasing integration of intermittent renewable energy sources necessitates the use of ESS to ensure a constant and reliable energy supply. Technological advancements in ESS, such as improved battery efficiency, lifespan, and cost reductions, are making these systems more economically viable and attractive for widespread grid applications. Regulatory support through government policies, incentives, and mandates is also a significant driver, encouraging the adoption of ESS.
Additionally, the growing demands for energy independence and enhanced grid stability, which ESS uniquely provides, are crucial for regions aiming to reduce reliance on external energy supplies and improve grid resilience. The ongoing global efforts towards decarbonization, heightened by the need to reduce carbon emissions and meet international climate goals, further bolster the deployment of ESS. Moreover, the increasing electrification of transportation and industrial sectors presents new challenges for grid management, where ESS plays a vital role in ensuring stability and managing the higher load demands. As urbanization continues and smart grid developments advance, the need for sophisticated energy solutions like ESS becomes more pronounced, highlighting their indispensable role in transitioning to a more sustainable, efficient, and resilient energy future.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of players such as NEC Corporation, LG Electronics Inc., Samsung SDI Co.,Ltd., Altairnano, BYD Company Ltd. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Segments
- Battery Type (Lithium-Ion, Lead Acid, Other Battery Types)
- End-Use (Utilities, Industrial, Residential, Other End-Uses)
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2024 – 2030 |
| Estimated Market Value (USD) in 2024 | $2.8 Billion |
| Forecasted Market Value (USD) by 2030 | $9.4 Billion |
| Compound Annual Growth Rate | 22.3% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- Grid-Connected Energy Storage – Global Key Competitors Percentage Market Share in 2025 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2025 (E)
MARKET TRENDS & DRIVERS
- Growing Adoption of Renewable Energy Sources Spurs Demand for Grid-Connected Energy Storage
- Advancements in Battery Technology Propel Market Growth
- Increasing Focus on Grid Stability and Reliability Expands Addressable Market Opportunity
- Rising Investments in Smart Grid Infrastructure Strengthens Business Case for Energy Storage Solutions
- Government Incentives and Subsidies Generate Demand for Grid-Connected Energy Storage
- Integration of Energy Storage with Electric Vehicle Charging Infrastructure Drives Adoption
- Surge in Energy Demand and Peak Load Management Needs Accelerates Deployment of Storage Solutions
- Technological Innovations in Energy Management Systems Sustain Market Growth
- Utility-Scale Energy Storage Projects Generate New Market Opportunities
- Challenges in Energy Storage Integration with Existing Grid Infrastructure Create Demand for Innovative Solutions
- Increasing Need for Renewable Energy Drives Adoption of Energy Storage Systems
- Environmental and Sustainability Concerns Generate Demand for Eco-Friendly Storage Solutions
- Rising Popularity of Virtual Power Plants Expands Addressable Market for Energy Storage
- Technological Advancements in Thermal and Mechanical Storage Generate New Opportunities
FOCUS ON SELECT PLAYERS:Some of the 23 companies featured in this report
- NEC Corporation
- LG Electronics Inc.
- Samsung SDI Co.,Ltd.
- Altairnano
- BYD Company Ltd.
- NGK Insulators, Ltd.
- Enerdel Inc.
- Ecoult
- Saft Groupe S.A.
For more information about this report visit https://www.researchandmarkets.com/r/c6m6i8
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- Grid-Connected Energy Storage Market
