Press release
Battery Energy Storage System Market to hit US$ 170.42 billion by 2032, Hitachi Energy acquired eks energy, IGP acquired SENS | Key Players:- Tesla, Inc, LG Energy Solution, Samsung SDI Co.
Battery Energy Storage System
The global battery energy storage system market is witnessing robust growth, driven by the accelerating integration of renewable energy sources, grid modernization efforts, and rising demand for reliable power backup across sectors. For instance, the critical importance of backup power is the National Fire Protection Association (NFPA) 110 mandate, which requires healthcare facilities to restore power to essential life-saving equipment within 10 seconds of an outage
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Key Industry Developments:-
✅ December 2025: Major U.S. utilities and energy providers accelerated deployment of grid-scale battery energy storage systems (BESS) to support renewable integration and grid reliability ahead of 2030 decarbonization targets, with multiple projects breaking ground in Texas, California, and PJM territory.
✅ September 2025: A leading battery manufacturer expanded its U.S. footprint with the commissioning of a new lithium-ion storage manufacturing line focused on utility-scale BESS modules, aiming to reduce supply bottlenecks and shorten delivery times for developers.
✅ June 2025: Several U.S. independent power producers (IPPs) announced multi-gigawatt battery storage deals tied to solar parks, integrating large-format BESS technology to enhance dispatchability and capture peak energy arbitrage opportunities.
✅ October 2025: U.S. cleantech foreign direct investment surged thirteenfold, with over 80% targeting the battery value chain, accelerating BESS manufacturing and deployment for renewable integration.
✅ September 2025: JSW Energy advanced a 125 MW/500 MWh standalone BESS project in Kerala through SECI partnership, focusing on grid stability with on-demand charging capabilities, though primarily influencing U.S. supply chain partners.
Japan: Key Industry Developments
✅ December 2025: Kansai Electric Power launched an Energy Storage Plant initiative alongside hyperscale data center projects, enhancing BESS integration for stable power supply in high-demand regions.
Latest M&A:-
Hitachi Energy acquired eks energy in a business acquisition deal, as announced on January 16, 2025.
IGP acquired SENS via a business acquisition on March 26, 2025.
Acciona Energy acquired Cable Energia in a business acquisition finalized on May 03, 2025.
ONGPL (a joint venture of ONGC Green and NTPC Green Energy) acquired Ayana Renewable Power for $2.3 billion in a deal reported in the first half of 2025, which was the largest solar M&A transaction in that period.
There were a total of 20 company-level M&A transactions and 45 project-level M&As in the energy storage sector in the first nine months (9M 2025).
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Market Segmentation:-
→ Battery Type Segmentation
Lithium-ion: 66% share (2025); driven by high energy density, falling costs, and LFP/NMC adoption.
Lead-acid: 12% share; cost-effective for backup/off-grid use but lower efficiency.
Flow batteries: 7% share; preferred for long-duration, scalable utility storage.
Sodium-sulfur (NaS): 6% share; used mainly in grid-scale, high-temp applications.
Others (solid-state/redox variants): 13% share; growing through emerging innovations.
→ Connection Type Segmentation
On-grid systems: 70% share; strong utility demand; hybrid setups form 31% within this category.
Off-grid systems: 27% share; used in remote areas lacking grid infrastructure.
Energy Capacity Segmentation
1-5 MWh: 34% share; key for commercial/industrial multi-hour storage.
Below 500 kWh: 21% share; suited for residential systems.
500 kWh-1 MWh:17% share; mid-tier commercial applications.
Above 5 MWh: 29% share; dominates utility-scale projects.
→ Application Segmentation
Residential: 22% share; driven by solar pairing and energy independence.
Non-residential: 78% share; commercial + utility dominance.
Renewable integration: 39% share within applications; supports grid stability.
Utility projects: 42% share; focus on peak shaving and large-scale storage.
Regional Insights:-
1. Asia-Pacific - 38% Market Share
Asia-Pacific leads due to large-scale renewable deployments in China, South Korea, Japan, and Australia. Massive grid modernization investments and solar-plus-storage projects continue accelerating adoption.
2. North America - 29% Market Share
Strong growth driven by the U.S. IRA incentives, grid resilience programs, and increasing utility-scale BESS installations. California and Texas remain the largest contributors.
3. Europe - 24% Market Share
Europe expands BESS adoption through stringent carbon-neutrality targets, renewable integration needs, and rapid installations across Germany, the UK, and Italy.
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Battery Energy Storage System Market - Key Drivers
Surge in renewable energy adoption (solar & wind) driving demand for grid-balancing storage.
Declining battery costs, especially lithium-ion and LFP, improving project affordability.
Government incentives & energy transition policies boosting utility and commercial deployments.
Growing need for grid stability due to rising intermittency and peak-load challenges.
Rapid expansion of electric vehicles, increasing demand for second-life and stationary batteries.
Advancements in battery technology (LFP, flow batteries, solid-state) enhancing efficiency and lifespan.
Increasing power outages & resilience needs pushing residential and industrial backup storage.
Decentralized energy systems & microgrids fueling off-grid and remote-area installations.
Corporate sustainability goals accelerating investments in renewable-plus-storage solutions.
Rising adoption of smart energy management systems improving storage performance and ROI.
Market Companies
→ Tesla, Inc, LG Energy Solution, Samsung SDI Co., Ltd, Panasonic Holdings Corporation, BYD Company Limited, Limited (CATL), ABB Ltd, Hitachi Energy Ltd, Siemens Energy AG, General Electric (GE).
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