Europe Energy Storage Systems Market Size & Outlook
Europe Energy Storage Systems Market, 2018-2030 (US$M)
Global Market
Related Markets
Europe energy storage systems market highlights
- The Europe energy storage systems market generated a revenue of USD 76,705.8 million in 2022.
- The market is expected to grow at a CAGR of 9.9% from 2023 to 2030.
- In terms of segment, pumped hydro was the largest revenue generating technology in 2022.
- Advanced is the most lucrative technology segment registering the fastest growth during the forecast period.
- Country-wise, UK is expected to register the highest CAGR from 2023 to 2030.
Europe data book summary
| Market revenue in 2022 | USD 76,705.8 million |
| Market revenue in 2030 | USD 163,641.2 million |
| Growth rate | 9.9% (CAGR from 2022 to 2030) |
| Largest segment | Pumped hydro |
| Fastest growing segment | Advanced |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Pumped Hydro, Advanced |
| Key market players worldwide | Altair Engineering Inc Class A, Ecolab Inc, Electrovaya Inc, GE Aerospace, Longfor Group Holdings Ltd, LG Chem, Safety Insurance Group Inc, Showa Paxxs Corp, Furukawa Battery Co Ltd, Fluence Energy Inc, Samsung SDI Co Ltd GDR - 144A |
Other key industry trends
- In terms of revenue, Europe region accounted for 34.4% of the global energy storage systems market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 84,397.0 million by 2030.
Spain, Germany, Italy, France, Switzerland, and Austria accounted for a cumulative energy storage system of over 70.97 GW in 2020. However, the significant market penetration of existing hybrid and pure renewable energy technologies in Germany and the UK is expected to drive investments in potential locations across these countries.
The authorities concerned with energy storage in the aforementioned European countries have opted for battery energy storage systems in order to increase the utilization of renewable energy sources and reduce dependency on fossil fuels. Increasing popularity of electric vehicles in countries including Germany and France is expected to boost the growth of ESS market over the long-term.
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Energy Storage Systems Market Scope
Energy Storage Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| GE Aerospace | View profile | 125,000 | One Financial Center, Suite 3700, Boston, MA, United States, 02111 | www.geaerospace.com |
| Altair Engineering Inc Class A | View profile | 3,200 | 1820 East Big Beaver Road, Troy, MI, United States, 48083 | www.altair.com |
| LG Chem | View profile | 10001+ | Seoul, Seoul-t'ukpyolsi, South Korea, Asia | www.lgchem.com |
| Fluence Energy Inc | View profile | 1,112 | 4601 Fairfax Drive, Suite 600, Arlington, VA, United States, 22203 | www.fluenceenergy.com |
| Ecolab Inc | View profile | 48,000 | 1 Ecolab Place, Saint Paul, MN, United States, 55102 | www.ecolab.com |
| Samsung SDI Co Ltd GDR - 144A | View profile | 12,452 | 150-20 Gongsero-ro, Giheung-gu, Gyeonggi-do, Yongin, Korea, Republic of | www.samsungsdi.co.kr |
| Longfor Group Holdings Ltd | View profile | 29,116 | No. 8 Beiyuan Street, Building 6, Beijing Longfor Blue Engine Industrial Park, Beijing, China, People's Republic of, 100012 | www.longfor.com |
| Electrovaya Inc | View profile | 97 | 6688 Kitimat Road, Mississauga, ON, Canada, L5N 1P8 | www.electrovaya.com |
| Safety Insurance Group Inc | View profile | 539 | 20 Custom House Street, Boston, MA, United States, 02110 | - |
| Showa Paxxs Corp | View profile | 793 | 2-12 Ichigayahonmura-cho, Shinjuku-ku, Tokyo, Japan, 162-0845 | www.showa-paxxs.co.jp |
Europe Energy Storage Systems Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Energy Storage Systems Market Outlook will help companies and investors design strategic landscapes.
Pumped Hydro was the largest segment with a revenue share of 95.36% in 2022.
Horizon Databook has segmented the Europe energy storage systems market based on pumped hydro, advanced covering the revenue growth of each sub-segment from 2018 to 2030.
Spain, Germany, Italy, France, Switzerland, and Austria accounted for a cumulative energy storage system of over 70.97 GW in 2020. However, the significant market penetration of existing hybrid and pure renewable energy technologies in Germany and the UK is expected to drive investments in potential locations across these countries.
The authorities concerned with energy storage in the aforementioned European countries have opted for battery energy storage systems in order to increase the utilization of renewable energy sources and reduce dependency on fossil fuels. Increasing popularity of electric vehicles in countries including Germany and France is expected to boost the growth of ESS market over the long-term.
- Europe Energy Storage Systems Market Technology Outlook (Revenue, USD Million , 2018-2030)
- Pumped Hydro
- Advanced
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe Energy Storage Systems Market Outlook, including forecasts for subscribers. This continent databook contains high-level insights into Europe Energy Storage Systems Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Europe Energy Storage Systems Market, 2018-2030 (US$M)
Europe energy storage systems market statistics, by technology, 2018-2030 (US$M)
