Asia Pacific Energy Storage Systems Market Size - By Technology (Pumped Hydro, Electro-Chemical, Electro-Mechanical, Thermal), By Application, Country Insights & Forecast, 2024 – 2032

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 and SCHMID Group.

China market is poised to exceed USD 565 billion by 2032, attributed to increasing energy demand, technological advancements, and declining costs of storage systems.

The electro-chemical technology segment in the Asia Pacific energy storage systems industry is anticipated to reach over USD 440 billion by 2032, backed by the reliable and constant power supply.

The market size for energy storage systems in Asia Pacific reached USD 211.2 billion in 2023 and is set to witness 18.6% CAGR up to 2032, led by the shifting trends towards the adoption of renewable energy technologies and the growing requirement for effective and economical storage solutions.