Asia Pacific Lithium-Ion Stationary Battery Storage Market Size - By Chemistry, By Application, Analysis, Share, Growth Forecast, 2025 - 2034

Asia Pacific Lithium-Ion Stationary Battery Storage Market Size

The Asia Pacific lithium-ion stationary battery storage market size was at USD 82.3 billion in 2024 and is expected to reach 1.37 triillion by 2034, growing at a CAGR of 30.3% from 2025 to 2034. The growing integration of renewable energy sources, including wind and solar, necessitates the development of energy storage solutions for intermittency issues. Battery storage systems are vital in harmonizing supply equilibrium and energy consumption.

China and Japan are spearheading the promotion and adoption of energy storage systems (ESS) through government policies. For instance, the Japanese government plans to make solar panel installation compulsory on new houses beginning 2025. Japan is also developing virtual power plants (VPPs) that aim to incorporate household batteries into the electricity grid.
 

China has invested over USD 13.9 billion in energy storage, leading to a nearly fourfold increase in capacity in 2023 alone. Declining market price of Li-ion batteries coupled with long-term investment, signifies optimism for affordable energy storage solutions. For reference, the average price of Li-ion iron phosphate (LFP) cells was USD 100/kWh in 2023. This decline in price allows energy storage systems to be economically and commercially appealing to households and businesses. Many private firms are currently funding large battery storage system projects. For illustration, in Queensland, Australia, Akaysha Energy, with BlackRock's backing, is building a USD 200 million battery project designed to power 300,000 homes.
 

Asia Pacific Lithium-Ion Stationary Battery Storage Market Trends

Advancements in battery technology, such as the development of vanadium redox flow batteries, are enhancing the performance and efficiency of energy storage systems. For illustration, the Ministry of Economy, Trade and Industry (METI) in Japan has reported investments in research and development to lower the cost of flow batteries, aiming to reduce energy storage costs to below JPY 23,000 (approximately USD 150) per kilowatt-hour by 2030.
 

A number of countries within this region are modernizing their related power infrastructure to improve power flow management and also integration of renewables. This involves deployment of advanced energy storage technologies that increase the operability of the grid. For reference, India is spending USD 4 billion under its Revamped Distribution Sector Scheme (RDSS) to provide advanced technological systems and enhance grid frameworks, including energy storage systems (ESS).
 

In addition, the enhancement of electric vehicles coupled with the requirement for reliable power in off-grid and rural areas are other factors driving battery energy storage systems (BESS) in the area. For illustration, the International Energy Agency (IEA) claims that the Asia-Pacific region contributed more than 45% of global battery energy storage installations in 2023 as a result of substantial investment in renewable energy projects and favorable government policies. All these factors are consolidating the APAC region’s position as a key energy storage hub in the world.
 

Asia Pacific Lithium-Ion Stationary Battery Storage Market Analysis

• Asia Pacific market for lithium-ion stationary battery storage was valued at USD 21.1 billion, USD 50.7 billion, and USD 82.3 billion in 2022, 2023, and 2024, respectively. Based on chemistry, the industry can be categorized into LFP, NMC and others.
   
• The NMC segment is expected to dominate the market and reach a revenue of USD 591.4 billion by 2034. The NMC batteries possess high energy density, which makes them ideal for compact and efficient storage applications. The growth of the EV market is also affecting the stationary storage market, with EV batteries being refurbished for stationary usages.
   
• LFP batteries have about 67% longer cycle life when compared to NMC batteries, making them more attractive for long-term use. Their increased safety and lower costs are accelerating adoption in grid-scale energy storage systems.
   

• Based on the application, Asia Pacific lithium-ion stationary battery storage market is trifurcated into grid services, behind the meter, and off grid. The behind the meter segment is set to lead the industry with a major market share of 51.4% in 2024 while growing at a positive CAGR through 2034. There is increasing adoption of BTM stationary storage battery systems in commercial and residential buildings, allowing users to store energy on-site and lessen their dependency on the grid. Increasing deployments of rooftop solar systems aid the demand for BTM battery storage solutions to be used efficiently.
   
• Off-grid battery storage systems are being deployed in rural areas and remote regions where there is no access to the grid. These systems are frequently used in conjunction with renewable energy such as solar to guarantee reliable power availability.
   
• As the grid services segment is growing at a remarkable rate, forecasts are showing tremendous growth potential in the market in the next few years. All these factors are responsible for the grid services segment undergoing sustained growth that is supporting further growth in other areas of the market. These changes will result in various opportunities throughout and across different industries.
   

• China lithium-ion stationary battery storage industry has reached a value of USD 15.3 billion, USD 41.3 billion, and USD 68.9 billion in 2022, 2023, and 2024. China’s robust manufacturing capabilities, coupled with the presence of major battery producers including BYD and CATL, has most certainly strengthened the supply chain, ensuring reliable and cost-efficient access to storage solutions. Other growth enablers include progress in lithium-ion batteries, enhanced cycle life, energy density, and decreased costs of stationary storage systems. These factors have enhanced the efficiency and affordability of residential and commercial systems, making access much easier.
   
• After the nuclear crisis in Japan, there was a shift towards decentralized and renewable energy. There is strong consumer demand for residential energy storage systems, especially in regions prone to disasters. Some local governments financially support the installation of batteries at homes with solar panels. VPP project concept at the national level consolidates home batteries for use in controlling grid power imbalances.
   
• In South Korea, the national Green New Deal includes substantial funding for the integration of renewables into ESS. Deployment and market confidence were boosted following the revision of ESS safety standards due to previous incidents. Limited domestic energy resources in Korea drive support for storage in an attempt to reduce dependence on import energy resources.
   
• In India, battery storage adoption growing in the commercial sector for backup and peak shaving. Strong rural electrification push drives off-grid storage paired with solar. National storage tenders (like SECI) and viability gap funding support large BESS projects.
   
• In Australia, over 30% of homes have solar; batteries are now added to optimize self-consumption. States like Victoria and South Australia offer rebates for home battery systems. Rapid growth of aggregated battery networks offering grid services.
   

Asia Pacific Lithium-Ion Stationary Battery Storage Market Share

The top 5 players operating in Asia Pacific lithium-ion stationary battery storage industry include CATL, BYD, LG Energy Solution, Samsung SDI, and Tesla which collectively hold over 35% of the market share. Larger firms steer innovation by investing in R&D and commercializing new technologies (e.g., grid-scale energy storage, solid-state batteries). A high market share often signals product reliability and financial stability, which attracts utilities, governments, and corporate buyers.
 

Major players produce batteries at lower costs, giving them a pricing advantage over smaller competitors. Companies with larger market shares secure better deals on raw materials (e.g., lithium, cobalt) and dominate access to critical inputs. High market share concentration can squeeze margins for mid-tier and niche companies, especially in commodity-driven markets.
 

Asia Pacific Lithium-Ion Stationary Battery Storage Market Companies

• CATL headquarter in China is world's largest battery manufacturer with significant presence in both EV and stationary storage markets. The company reported revenue of USD 50.4 billion in 2024.
   
• BYD, another Chinese powerhouse, leverages its vertically integrated model and Blade Battery technology to deliver commercial and industrial energy storage systems across the region.
   
• LG Energy Solution is expanding its APAC footprint through strategic joint ventures, focusing on large-scale grid and renewable energy storage. The company had a gross profit of USD 2.44 billion in 2024.
   
• Tesla is bolstering its presence in Asia by constructing a Megapack manufacturing facility in Shanghai, aiming to support grid-scale deployments across APAC markets, particularly in Australia and China.
   
• Samsung SDI, also based in South Korea, offers high-performance ESS products and is advancing solid-state battery R&D to maintain competitiveness. The company’s research and development expenditure in FY2024 was over USD 927.59 million.
   

Some of the major key players operating across the Asia Pacific lithium-ion stationary battery storage market are:

• BYD Company
• Contemporary Amperex Technology
• Exide Technologies
• GS Yuasa International
• Hitachi Energy
• HOPPECKE Batterien
• Johnson Controls
• LG Energy Solution
• Panasonic Corporation
• SAMSUNG SDI
• Siemens Energy
• SK Innovation
• Tesla
• Toshiba Corporation
   

Asia Pacific Lithium-Ion Stationary Battery Storage Industry News

• In April of 2025, SK Innovation disclosed plans to invest up to USD 1.1 hundred billion in a facility expansion located in Seosan City, South Korea. This also includes the implementation of a smart factory alongside augmenting the manufacturing processes to improve production rate and accuracy of processing.
   
• In February 2025, BYD Energy Storage signed a deal with Saudi Electricity Company to deliver 12.5 GWh of energy storage, which represents a significant step into large-scale grid storage projects. SB Energy is bolstering its investment in ESS to take advantage of growing demand for grid-scale storage in the Asia Pacific region.
   
• In January of 2025, BYD contracted with Saudi Electricity Company for 5 BYD 500 MW/2,500 MWh battery storage contracts throughout Saudi Arabia, summing up to 12.5 GWh. These contracts are aimed at improving the stability of the grid and the integration of renewable energy sources.
   
• In June 2024, Hitachi Energy announced an additional USD 4.5 billion by 2027 will be put toward the accelerating clean energy transition. This includes increased spending on manufacturing, engineering, digital, R&D, and collaboration with other players in major markets.
   

This Asia Pacific lithium-ion stationary battery storage market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million & MW” from 2021 to 2034 for the following segments:

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Market, By Chemistry

• LFP
• NMC
• Others

Market, By Application

• Grid services
• Behind the meter
• Off grid

The above information has been provided for the following countries:

• China
• Japan
• India
• South Korea
• Australia