Steady Expansion Forecast for Long Duration Energy Storage Market, Projected to Reach $5.95 Billion by 2029

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Long Duration Energy Storage Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market for long-term energy storage has seen swift expansion in recent years. The market is forecasted to expand from $3.12 billion in 2024 to $3.52 billion in 2025, showing a compound annual growth rate (CAGR) of 13.0%. The spectacular growth during the historical period can be credited to the surging interest in decentralized energy systems, rising awareness on climate change, escalating concerns about energy security, the growing requirement for grid flexibility, and increased efforts towards energy transition.

Long Duration Energy Storage Market Size Forecast: What's the Projected Valuation by 2029?
Over the coming years, the market size for long duration energy storage is predicted to experience substantial expansion, reaching an estimated value of $5.95 billion by 2029 with a 14.0% compound annual growth rate (CAGR). This expansion in the forecast period is due to the escalating international need for affordable and environmentally friendly energy along with the electrification boom in economies, an increase in investment towards environmentally friendly energy infrastructure, the mounting pressure for accomplishing net-zero emissions, as well as a rising focus on long-term energy security. The forecast period is also expected to witness dominant trends such as progression in battery technologies, introduction of innovative storage materials, an emergence of advanced hybrid storage systems, cutting-edge case systems, and sophisticated control systems.

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What Are the Drivers Transforming the Long Duration Energy Storage Market?
The expansion of electric vehicle charging infrastructures is predicted to drive the growth of the long-duration energy storage market. The term "EV charging infrastructure" encompasses a vast network of charging points that include slow, fast, and ultra-fast chargers designed to deliver electricity to recharge electric cars. Factors such as increased acceptance of electric vehicles, governmental incentives, advancements in energy storage technology, and global efforts towards sustainable transportation have contributed to the expansion of EV charging facilities. These infrastructures utilize long-duration energy storage to keep a steady reservoir of renewable energy, ensuring uninterrupted power supply during periods of high demand or power outages. For instance, according to projections published by the International Energy Agency, a France-based intergovernmental body, in April 2024, the number of public charging points worldwide is expected to surge from 4 million in 2023 to over 15 million in 2030, corresponding to a fourfold increase, before hitting 25 million in 2035, indicating a sixfold increase. Therefore, the expansion of EV charging infrastructures is propelling the growth of the long-duration energy storage market.

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What Long-Term Trends Will Define the Future of the Long Duration Energy Storage Market?
Leading companies in the market of long-lasting energy storage are concentrating their efforts on technological innovations like novel battery management systems to improve energy efficacy and safety. Battery management systems (BMS) are cutting-edge tech solutions specifically created to supervise, regulate, and boost the functioning, safety, and lifespan of battery packs used in energy storage applications. For instance, in September 2024, Xiamen HiTHIUM Energy Storage Technology Co. Ltd., a firm based in China specialized in energy storage, unveiled the HiTHIUM 8Block 6.25MWh energy storage system - a solution for energy storage that lasts four hours. The system has been designed to harness excess solar energy, reinforcing grid dependability during times of maximum demand. The system's key features consist of a superior battery management system, an external active balancing technology, and components that are environmentally friendly. The launching of this system underscores HiTHIUM's dedication to helping the switchover to sustainable energy solutions.

Which Segments in the Long Duration Energy Storage Market Offer the Most Profit Potential?
The long duration energy storage market covered in this report is segmented -

1) By Technology Type: Pumped Hydro Storage (PHS), Compressed Air Energy Storage (CAES), Liquid Air Energy Storage (LAES), Flow Batteries, Solid-State Batteries
2) By Capacity: Upto 50 MW, 50-100 MW, More Than 100 MW
3) By Duration: Upto 8 Hours, 8 To 10 Hours, Above 10 Hours
4) By Application: Grid Energy Storage, Off-grid Energy Storage, Backup Power
5) By End-User: Utilities, Industrial, Commercial, Residential, Other End-Users

Subsegments:

1) By Pumped Hydro Storage (PHS): Closed-loop, Open-loop
2) By Compressed Air Energy Storage (CAES): Diabatic CAES, Adiabatic CAES, Isothermal CAES
3) By Liquid Air Energy Storage (LAES): High-Grade Cold Recycling, Thermal Energy Integration
4) By Flow Batteries: Redox Flow Batteries, Hybrid Flow Batteries
5) By Solid-State Batteries: Lithium Solid-State Batteries, Sodium Solid-State Batteries, Polymer-Based Solid-State Batteries, Thin-Film Solid-State Batteries

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Which Firms Dominate the Long Duration Energy Storage Market by Market Share and Revenue in 2025?
Major companies operating in the long duration energy storage market are Sumitomo Electric Industries Ltd., MAN Energy Solutions, Stryten Energy, Energy Vault Inc., Form Energy, Alsym Energy Inc., Highview Enterprises Ltd, MGA Thermal Pty Ltd, Invinity Energy Systems, VFlowTech Pte Ltd, Eos Energy Enterprises, Primus Power Solutions, VoltStorage GmbH, Gravitricity, e-Zinc Inc., Enlighten Innovations Inc., Storelectric Limited, 1414 Degrees Limited, Corre Energy General Partner B.V., Storion, Malta Inc., ESS Tech Inc., Xiamen HiTHIUM Energy Storage Technology Co. Ltd., Enerpoly AB.

Which Regions Offer the Highest Growth Potential in the Long Duration Energy Storage Market?
North America was the largest region in the long duration energy storage market in 2024. The regions covered in the long duration energy storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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