Press release
Long-Duration Energy Storage Market to Reach USD 10.4 Billion by 2030 at 13.6% CAGR
Long-Duration Energy Storage Market
A MarketsandMarkets report forecasts that the global Long-Duration Energy Storage (LDES) market will grow from USD 4.84 billion in 2024 to USD 10.43 billion by 2030, registering a strong CAGR of 13.6% . This surge is driven by the increasing integration of renewables, grid resilience needs, and advances in cost-effective LDES technologies like flow batteries, compressed air, and pumped hydro.
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◉ Market Highlights & Drivers
2024 value: USD 4.84 billion; 2030 forecast: USD 10.43 billion (CAGR 13.6%)
Alternate forecasts project growth to USD 12.34 billion by 2030 at 12.9% CAGR
North America leads, supported by policy incentives and aging grid upgrades
Asia-Pacific fastest-growing, fueled by China, Japan, South Korea, and industrial & urban expansion
◉ Competitive Landscape
Leading companies include Sumitomo Electric Industries, ESS Tech, Energy Vault, Eos Energy Enterprises, Invinity Energy Systems, Highview Power, Primus Power, CMBlu Energy AG, and Malta Inc. These players are advancing via strategic alliances, licensing deals, and technology development to meet rising demand.
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Regional Demand & Higher Growth Regions
North America: Dominant region; U.S. recorded massive grid-scale installations of 3,806 MW in Q3 2024, up 80% year-over-year
Europe: Set for 5× storage capacity growth to 50 GW by 2030 with €80 billion investments, though falling short of the 200 GW target
Asia-Pacific: Fastest growth due to booming installations in China, Japan, South Korea, and India
◉ Country-Specific Sections
Vietnam: Opportunity Growth in LDES
Rapid urbanization and renewable expansion position Vietnam for a surge in LDES demand. Pilot projects are emerging in both lithium flow and pumped hydro technologies.
Thailand: Trends in Energy Resilience
Thailand is embracing LDES to support its smart grid plans, with Thai utilities piloting medium-duration flow battery systems for grid balancing.
Japan: Updation & Capacity Expansion
Japanese players like Sumitomo Electric are scaling flow battery and hydrogen storage systems, bolstered by partnerships with U.S. innovators for continuous improvement.
South Korea: Innovation Growth in Stationary Storage
Korean firms are piloting CAES and thermal storage systems alongside local companies to support industrial and utility-scale deployments.
Singapore: Benchmarking Opportunity in Urban Energy Storage
Singapore's smart city initiatives drive deployment of compact LDES units in urban grids and data centers to manage peak load demands.
United States: Consolidation & Grid-Scale Uptake
With record capacity additions of 3,806 MW in Q3 2024, the U.S. leads grid-scale energy storage Consolidation is accelerating through public-private partnerships and large-scale deployments.
China: Integration & Storage Boom
China is deploying massive battery plants, such as the 795 MW Shandong facility, and pushing for 40 GW installed battery capacity by end-2025 . However, utilization challenges and pricing reforms remain critical.
Europe: Trend & Policy-Driven Expansion
Europe is aggressively scaling LDES to support its transition to renewables. Utility-scale battery additions and flexible policies are driving investment
Energy Vault licensed its gravity-based technology with a UK-South Africa consortium in January 2024
Eos Energy Enterprises secured USD 20 million for multiple installations of zinc battery systems in California
Companies like ESS Tech, Highview Power, and CMBlu Energy are entering new regions via strategic alliances and investment rounds.
To learn more about the findings of this research, please check:https://www.maximizemarketresearch.com/market-report/long-duration-energy-storage-market/278446/
◉ Global Long Duration Energy Storage Market Segment Analysis
by Technology Outlook
Mechanical Storage
Thermal Storage
Electrochemical Storage
by Duration
Outlook 8 to 24
>24 to 36
>36
by Application
Grid Management
Power Backup
Renewable Energy Integration
Off-Grid & Micro-Grid System
◉ Key Recent Developments
The U.S. Q3 2024 grid saw an 80% installation surge totaling 3.8 GW
Europe's battery storage installations climbed five-fold by 2030, though capacity targets remain unmet
China commissioned the 795 MW Shandong battery plant but still grapples with utilization and pricing challenges
Advances in flow, thermal, CAES, and hydrogen storage technologies continue to reduce costs and support market viability.
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◉ About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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