GITNUX MARKETDATA REPORT 2024

Energy Storage Industry Statistics [Fresh Research]

With sources from: lucintel.com, utilitydive.com, woodmac.com, grandviewresearch.com and many more

In this post, we will explore a comprehensive overview of the current statistics shaping the energy storage industry worldwide. With key insights such as the significant market growth projections, regional leaders, technology trends, and cost dynamics, these statistics shed light on the evolving landscape of energy storage solutions. Stay tuned to gain valuable insights into the future trajectory of the energy storage sector.

Statistic 1

"The global energy storage market is expected to reach $546 billion by 2035."

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Statistic 2

"The U.S. energy storage market experienced a 232% year-over-year growth from Q3 2019 to Q3 2020."

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Statistic 3

"Global energy storage deployment was approximately 4.5 GW in 2019."

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Statistic 4

"China leads the world in energy storage capacity, with 8.3 GW installed by 2020."

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Statistic 5

"The use of lithium-ion technology in the energy storage industry will grow by approximately four times by 2030."

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Statistic 6

"Residential energy storage deployments in the US grew 28% in Q3 2020 compared to the previous quarter."

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Statistic 7

"Energy storage installations in India are projected to grow at a CAGR of 6.1% between 2020 and 2027."

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Statistic 8

"Europe’s energy storage industry is projected to reach 42 billion Euros by 2025."

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Statistic 9

"Australia’s energy storage market is predicted to grow over 30% from 2020 to 2026."

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Statistic 10

"Global compressed air energy storage market is expected to reach USD 10.3 billion by 2025."

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Statistic 11

"The Middle East and Africa is projected to exhibit a CAGR of around 15% in terms of battery energy storage system between 2020 and 2026."

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Statistic 12

"Revenue for the U.S. energy storage industry is expected to increase to over $4 billion by 2024."

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Statistic 13

"The global flywheel energy storage market is expected to reach $477.8 M by 2025"

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Statistic 14

"Molten salt energy storage market is anticipated to surpass an annual installation of 3 GW by 2024."

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Statistic 15

"The cost of energy storage fell nearly 76% between 2012 and 2019."

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Statistic 16

"The U.S. energy storage market will grow 12-fold from 2019 levels, reaching 100 GW by 2030."

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Statistic 17

"California currently leads the United States in the usage of storage, with over 3,200 MWh installed."

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Interpretation

The energy storage industry exhibits strong growth potential globally, with significant increases in market size, deployment rates, and technological advancements projected across various regions. The statistics suggest a positive outlook for the industry, with key players such as the U.S., China, Europe, Australia, and India driving growth through substantial investments and adoption of energy storage technologies. The declining costs and expanding market opportunities underscore the increasing importance of energy storage in the transition towards sustainable energy solutions, positioning the sector for continued expansion and innovation in the coming years.

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