Germany Energy Storage Systems Market Size & Outlook
Germany Energy Storage Systems Market, 2018-2030 (US$M)
Global Market
Related Markets
Germany energy storage systems market highlights
- The Germany energy storage systems market generated a revenue of USD 9,057.2 million in 2022 and is expected to reach USD 19,983.0 million by 2030.
- The Germany market is expected to grow at a CAGR of 10.4% 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.
Energy storage systems market data book summary
| Market revenue in 2022 | USD 9,057.2 million |
| Market revenue in 2030 | USD 19,983.0 million |
| Growth rate | 10.4% (CAGR from 2022 to 2030) |
| Largest segment | Pumped hydro |
| Fastest growing segment | Advanced |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 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, Germany accounted for 4.1% of the global energy storage systems market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Europe, Germany energy storage systems market is projected to lead the regional market in terms of revenue in 2030.
- UK is the fastest growing regional market in Europe and is projected to reach USD 9,027.3 million by 2030.
Germany is recognized as developed economies in the world. Over the past few years, the country had invested in unconventional power generation technology, in order to reduce its reliance on conventional sources, such as coal and natural gas, to be energy self-sufficient.
Also, ongoing innovation and technological advancement by vendors is further expected to propel the growth of the market. For instance, SS&A Power Development and WIKA Group, a global leader in the field of measurements technology signed a joint venture agreement to incorporate E2S Power AG company.
The purpose of the company is to develop and implement thermal energy storage with a major focus on retrofitting and repurposing existing coal fired plants. These factors will boost the growth of thermal storage in the energy storage market across the country over the forecast period.
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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 |
Germany 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 84.04% in 2022.
Horizon Databook has segmented the Germany energy storage systems market based on pumped hydro, advanced covering the revenue growth of each sub-segment from 2018 to 2030.
Germany is recognized as developed economies in the world. Over the past few years, the country had invested in unconventional power generation technology, in order to reduce its reliance on conventional sources, such as coal and natural gas, to be energy self-sufficient.
Also, ongoing innovation and technological advancement by vendors is further expected to propel the growth of the market. For instance, SS&A Power Development and WIKA Group, a global leader in the field of measurements technology signed a joint venture agreement to incorporate E2S Power AG company.
The purpose of the company is to develop and implement thermal energy storage with a major focus on retrofitting and repurposing existing coal fired plants. These factors will boost the growth of thermal storage in the energy storage market across the country over the forecast period.
- Germany 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 country-level data and insights on the Germany Energy Storage Systems Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Germany Energy Storage Systems Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Germany Energy Storage Systems Market, 2018-2030 (US$M)
Germany energy storage systems market statistics, by technology, 2018-2030 (US$M)
