Asia Pacific Solar Tracker Market Scope, Trends, Revenue and Future Challenges Till 2034
Asia Pacific Energy Storage Systems Market Growth, Size, Trends Analysis - By Technology, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: May-2025 | Report ID: POAE2527 | Pages: 1 - 250 | Formats*: |
| Category : Power & Energy | |||
Asia Pacific Energy Storage Systems Market Introduction and Overview
According to SPER Market Research, the Asia Pacific Energy Storage Systems Market is estimated to reach USD 1408.91 billion by 2034 with a CAGR of 18.83%.
The report includes an in-depth analysis of the Asia Pacific Energy Storage Systems Market, including market size and trends, product mix, Applications, and supplier analysis. The Asia Pacific Energy Storage Systems Market is expected to expand at a compound annual growth rate (CAGR) of 18.83% between 2025 and 2034, from its 2024 valuation of USD 250.97 billion. The demand for energy storage systems (ESS) has significantly increased in recent years due to the growing need for efficient and cost-effective storage solutions as well as the trend towards the adoption of renewable energy technology. The need for installing affordable storage systems has been highlighted by the frequency of power outages and the inadequacy of grid infrastructure in developing countries.
By Technology Insights:
The market is divided into four segments based on technology: thermal energy storage, electro-mechanical, electro-chemical, and pumped hydro storage. Because of its consistent and dependable power source, electro-chemical technology was dominated the market in 2024. The growing need for off-grid electricity and governments' endorsement of renewable energy integration programs around the world are predicted to support the growth of battery energy storage systems. Furthermore, it is anticipated that the adoption of electrochemical storage systems will be fuelled by the growing demand for grid stability and dependable electricity as well as encouraging government regulations meant to guarantee a continuous supply of electricity.
By Application Insights:
The market for energy storage systems in Asia Pacific is divided into several segments, including black start, electric energy time shift, and electric supply capacity. Through 2034, the electric energy time shift market is expected to grow at a fastest compound annual growth rate. The technique of reducing or rerouting energy/electricity use during peak hours in response to financial efforts, such as Time of Use (TOU) rates, is referred to as demand response, or EETS. Because it results in lower energy usage, cost savings, and the ability to delay investments in new power plants and distribution networks, the power industry sees EETS as a significant resource choice.
Regional Insights:
China dominated the energy storage systems market in 2024. With a strong emphasis on renewable energy sources such as solar and wind, there is an increasing demand for energy storage solutions to handle intermittency and improve grid stability. China's energy storage business is expanding rapidly, fuelled by rising energy consumption, technological breakthroughs, and falling storage system costs. Energy storage systems are being used in a variety of applications, including grid-scale energy storage, distributed energy storage systems (DESS) for residential and commercial use, and EV batteries.
Market Competitive Landscape:
Leading market players are investing in research and development to expand their product lines, boosting the Asia Pacific energy storage market. They are also engaging in strategic activities like new product launches, agreements, mergers, higher investments, and collaborations. To thrive in a competitive market, the industry must provide cost-effective products.
Major companies in this market include Tesla, LG Chem, BYD, Panasonic, AES Energy Storage, Fluence, Siemens, ABB, Saft, ESS Inc., NEC Energy Solutions, Samsung SDI, Green Charge, and others.
Recent Developments:
In April 2024, Total Energies announced plans for a new battery storage project in Belgium, set to start by the end of 2025. The project will be located at TotalEnergies' depot in Feluy, featuring a power rating of 25MW and a capacity of 75MWh, using 40 Intensium Max High Energy lithium-ion containers supplied by Saft, a TotalEnergies subsidiary.
Eguana Technologies announced in November 22, 2023, that it has signed a multi-year Virtual Power Plant (VPP) Referral and Promotion agreement with a long-time utility partner to deploy Eguana's Energy Storage Solutions (ESS) to Australian power customers.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Technology, By Application |
| Regions covered | Australia, China, India, Japan, South Korea, Rest of Asia-Pacific |
| Companies Covered | ABB, Abengoa S.A, Burns & McDonnell, BYD Company Ltd, CALMAC, Durapower Group, Exide Technologies, General Electric, Hitachi Energy Ltd, Johnson Controls, LG Energy Solution, McDermott, Narada Power Source Co. Ltd, Panasonic Corporation, Samsung SDI Co., Ltd. |
Key Topics Covered in the Report:
- Asia Pacific Energy Storage Systems Market Size (FY’2021-FY’2034)
- Overview of Asia Pacific Energy Storage Systems Market
- Segmentation of Asia Pacific Energy Storage Systems Market By Technology (Pumped Hydro, Electro-Chemical, Electro-Mechanical, Thermal)
- Segmentation of Asia Pacific Energy Storage Systems Market By Application (Electric Time Energy Shift, Electric Supply Capacity, Black Start, Renewable Capacity Firming, Frequency Regulation, Others)
- Statistical Snap of Asia Pacific Energy Storage Systems Market
- Expansion Analysis of Asia Pacific Energy Storage Systems Market
- Problems and Obstacles in Asia Pacific Energy Storage Systems Market
- Competitive Landscape in the Asia Pacific Energy Storage Systems Market
- Details on Current Investment in Asia Pacific Energy Storage Systems Market
- Competitive Analysis of Asia Pacific Energy Storage Systems Market
- Prominent Players in the Asia Pacific Energy Storage Systems Market
- SWOT Analysis of Asia Pacific Energy Storage Systems Market
- Asia Pacific Energy Storage Systems Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1. Introduction
- 1.1. Scope of the report
- 1.2. Market segment analysis
2. Research Methodology
- 2.1. Research data source
- 2.1.1. Secondary Data
- 2.1.2. Primary Data
- 2.1.3. SPER’s internal database
- 2.1.4. Premium insight from KOL’s
- 2.2. Market size estimation
- 2.2.1. Top-down and Bottom-up approach
- 2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
- 4.1. Driver, Restraint, Opportunity and Challenges analysis
- 4.1.1. Drivers
- 4.1.2. Restraints
- 4.1.3. Opportunities
- 4.1.4. Challenges
5. Market variable and outlook
- 5.1. SWOT Analysis
- 5.1.1. Strengths
- 5.1.2. Weaknesses
- 5.1.3. Opportunities
- 5.1.4. Threats
- 5.2. PESTEL Analysis
- 5.2.1. Political Landscape
- 5.2.2. Economic Landscape
- 5.2.3. Social Landscape
- 5.2.4. Technological Landscape
- 5.2.5. Environmental Landscape
- 5.2.6. Legal Landscape
- 5.3. PORTER’s Five Forces
- 5.3.1. Bargaining power of suppliers
- 5.3.2. Bargaining power of buyers
- 5.3.3. Threat of Substitute
- 5.3.4. Threat of new entrant
- 5.3.5. Competitive rivalry
- 5.4. Heat Map Analysis
6. Competitive Landscape
- 6.1. Asia Pacific Energy Storage Systems Market Manufacturing Base Distribution, Sales Area, Product Type
- 6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Asia Pacific Energy Storage Systems Market
7. Asia Pacific Energy Storage Systems Market, By Technology (USD Million) 2021-2034
- 7.1. Pumped Hydro
- 7.2. Electro-Chemical
- 7.2.1. Lithium-Ion
- 7.2.2. Sodium Sulphur
- 7.2.3. Lead Acid
- 7.2.4. Flow Battery
- 7.2.5. Others
- 7.3. Electro-Mechanical
- 7.3.1. Flywheel
- 7.3.2. CAES
- 7.4. Thermal Energy Storage
- 7.4.1. Water
- 7.4.2. Molten Salt
- 7.4.3. PCM
- 7.4.4. Others
8. Asia Pacific Energy Storage Systems Market, By Application (USD Million) 2021-2034
- 8.1. Electric Time Energy Shift
- 8.2. Electric Supply Capacity
- 8.3. Black Start
- 8.4. Renewable Capacity Firming
- 8.5. Frequency Regulation
- 8.6. Others
9. Asia Pacific Energy Storage Systems Market, (USD Million) 2021-2034
- 9.1. Asia Pacific Energy Storage Systems Market Size and Market Share
10. Asia Pacific Energy Storage Systems Market, By Region, (USD Million) 2021-2034
- 10.1. Australia
- 10.2. China
- 10.3. India
- 10.4. Japan
- 10.5. South Korea
- 10.6. Rest of Asia-Pacific
11. Company Profile
- 11.1. ABB
- 11.1.1. Company details
- 11.1.2. Financial outlook
- 11.1.3. Product summary
- 11.1.4. Recent developments
- 11.2. Abengoa S.A
- 11.2.1. Company details
- 11.2.2. Financial outlook
- 11.2.3. Product summary
- 11.2.4. Recent developments
- 11.3. Burns & McDonnell
- 11.3.1. Company details
- 11.3.2. Financial outlook
- 11.3.3. Product summary
- 11.3.4. Recent developments
- 11.4. BYD Company Ltd
- 11.4.1. Company details
- 11.4.2. Financial outlook
- 11.4.3. Product summary
- 11.4.4. Recent developments
- 11.5. CALMAC
- 11.5.1. Company details
- 11.5.2. Financial outlook
- 11.5.3. Product summary
- 11.5.4. Recent developments
- 11.6. Durapower Group
- 11.6.1. Company details
- 11.6.2. Financial outlook
- 11.6.3. Product summary
- 11.6.4. Recent developments
- 11.7. Exide Technologies
- 11.7.1. Company details
- 11.7.2. Financial outlook
- 11.7.3. Product summary
- 11.7.4. Recent developments
- 11.8. General Electric
- 11.8.1. Company details
- 11.8.2. Financial outlook
- 11.8.3. Product summary
- 11.8.4. Recent developments
- 11.9. Hitachi Energy Ltd
- 11.9.1. Company details
- 11.9.2. Financial outlook
- 11.9.3. Product summary
- 11.9.4. Recent developments
- 11.10. Johnson Controls
- 11.10.1. Company details
- 11.10.2. Financial outlook
- 11.10.3. Product summary
- 11.10.4. Recent developments
- 11.11. LG Energy Solution
- 11.11.1. Company details
- 11.11.2. Financial outlook
- 11.11.3. Product summary
- 11.11.4. Recent developments
- 11.12. McDermott
- 11.12.1. Company details
- 11.12.2. Financial outlook
- 11.12.3. Product summary
- 11.12.4. Recent developments
- 11.13. Narada Power Source Co. Ltd
- 11.13.1. Company details
- 11.13.2. Financial outlook
- 11.13.3. Product summary
- 11.13.4. Recent developments
- 11.14. Panasonic Corporation
- 11.14.1. Company details
- 11.14.2. Financial outlook
- 11.14.3. Product summary
- 11.14.4. Recent developments
- 11.15. Samsung SDI Co., Ltd
- 11.15.1. Company details
- 11.15.2. Financial outlook
- 11.15.3. Product summary
- 11.15.4. Recent developments
- 11.16. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Asia Pacific Energy Storage Systems Market is projected to reach USD 1408.91 billion by 2034, growing at a CAGR of of 18.83% during the forecast period.
Asia Pacific Energy Storage Systems Market grew in Market size from 2025. The Market is expected to reach USD 1408.91 billion by 2034, at a CAGR of 18.83% during the forecast period.
Asia Pacific Energy Storage Systems Market CAGR of 18.83% during the forecast period.
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Asia Pacific Energy Storage Systems Market size is USD 1408.91 billion from 2025 to 2034.
Asia Pacific Energy Storage Systems Market is covered By Technology, By Application
The China, India, Japan, South Korea, Rest of Asia-Pacific is the highest Market share in the Asia Pacific Energy Storage Systems Market
ABB, Abengoa S.A, Burns & McDonnell, BYD Company Ltd, CALMAC, Durapower Group, Exide Technologies, General Electric, Hitachi Energy Ltd, Johnson Controls, LG Energy Solution, McDermott, Narada Power Source Co. Ltd, Panasonic Corporation, Samsung SDI Co., Ltd.
The report includes an in-depth analysis of the Asia Pacific Energy Storage Systems Market, including market size and trends, product mix, Applications, and supplier analysis.
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