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Asia Pacific Energy Storage Systems Market
Updated On

Jan 21 2025

Total Pages

200

Asia Pacific Energy Storage Systems Market 2025-2033 Overview: Trends, Competitor Dynamics, and Opportunities

Asia Pacific Energy Storage Systems Market by Technology (Pumped Hydro, Electro-Chemical, Electro-Mechanical, Thermal Energy Storage), by Application (Electric Time Energy Shift, Electric Supply Capacity, Black Start, Renewable Capacity Firming, Frequency Regulation, Others), by Asia Pacific (China, India, Japan, Australia, South Korea, Indonesia, Malaysia, Singapore, Thailand, Vietnam, Philippines, Sri Lanka) Forecast 2025-2033

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Asia Pacific Energy Storage Systems Market 2025-2033 Overview: Trends, Competitor Dynamics, and Opportunities

The size of the Asia Pacific Energy Storage Systems Market was valued at USD XX Billion in 2024 and is projected to reach USD XX Billion by 2033, with an expected CAGR of 18.6% during the forecast period.The Asia Pacific Energy Storage Systems Market is booming due to the increasing penetration of renewable energy and the need for grid stability. Energy storage systems, particularly lithium-ion batteries, support solar and wind power integration while addressing intermittency issues.Key countries include China, Japan, and South Korea, driven by government initiatives and investments in renewable energy infrastructure. Emerging markets like India are also contributing significantly.Trends include hybrid storage systems, second-life battery usage, and advanced energy management solutions. Challenges such as high costs and recycling concerns persist, but technological advancements are reducing barriers.As Asia Pacific continues to prioritize clean energy, the energy storage market is expected to grow rapidly, enabling a sustainable energy transition.

Asia Pacific Energy Storage Systems Market Research Report - Market Size, Growth & Forecast

Asia Pacific Energy Storage Systems Market Concentration & Characteristics

The Asia Pacific Energy Storage Systems Market is highly concentrated, with a few major players accounting for a significant share of the market. The market is characterized by innovation, with companies investing heavily in research and development to develop new and improved energy storage technologies. Regulations play a significant role in the market, with governments implementing policies to promote clean energy and reduce greenhouse gas emissions. Product substitutes, such as diesel generators, pose a challenge to the growth of the energy storage market. End user concentration is high, with a few large end users accounting for a significant portion of the demand for energy storage systems. The level of M&A in the market is high, with companies acquiring smaller players to expand their market share and gain access to new technologies.

Asia Pacific Energy Storage Systems Market Trends

The Asia Pacific Energy Storage Systems Market is witnessing several key trends, including:

  • The increasing adoption of renewable energy sources, such as solar and wind power, is driving the demand for energy storage systems.
  • The declining cost of energy storage systems is making them more affordable for a wider range of applications.
  • The development of new and improved energy storage technologies is expanding the range of applications for these systems.
  • The growing awareness of the benefits of energy storage systems is leading to increased investment in this sector.

Asia Pacific Energy Storage Systems Market Growth

Key Region or Country & Segment to Dominate the Market

China is the largest market for energy storage systems in the Asia Pacific region, followed by India and Japan. The increasing demand for renewable energy sources and the government's supportive policies are driving the growth of the energy storage market in China. The electro-chemical segment is the largest segment in the Asia Pacific energy storage market, followed by the electro-mechanical segment. The electro-chemical segment is expected to continue to dominate the market in the coming years, driven by the increasing demand for lithium-ion batteries.

Asia Pacific Energy Storage Systems Market Product Insights Report Coverage & Deliverables

The Asia Pacific Energy Storage Systems Market Product Insights Report Coverage & Deliverables include:

  • Market size estimates and forecasts
  • Market share analysis
  • Market trend analysis
  • Competitive landscape analysis
  • Product analysis
  • Company profiles

Asia Pacific Energy Storage Systems Market Analysis

The Asia Pacific Energy Storage Systems Market is expected to grow to USD 821.5 Billion by 2028, at a CAGR of 18.6%. The market is driven by the increasing demand for energy storage solutions due to the growing penetration of renewable energy sources, government initiatives to promote clean energy, and technological advancements in energy storage systems. The electro-chemical segment is expected to continue to dominate the market in the coming years, driven by the increasing demand for lithium-ion batteries.

Asia Pacific Energy Storage Systems Market Regional Insights

The Asia Pacific Energy Storage Systems Market is divided into the following regions:

  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Indonesia
  • Malaysia
  • Singapore
  • Thailand
  • Vietnam
  • Philippines
  • Sri Lanka

China is the largest market for energy storage systems in the Asia Pacific region, followed by India and Japan. The increasing demand for renewable energy sources and the government's supportive policies are driving the growth of the energy storage market in China.

Driving Forces: What's Propelling the Asia Pacific Energy Storage Systems Market

The Asia Pacific Energy Storage Systems Market is being propelled by the following driving forces:

  • The increasing demand for renewable energy sources
  • The declining cost of energy storage systems
  • The development of new and improved energy storage technologies
  • The growing awareness of the benefits of energy storage systems

Challenges and Restraints in Asia Pacific Energy Storage Systems Market

The Asia Pacific Energy Storage Systems Market is facing the following challenges and restraints:

  • The high cost of energy storage systems
  • The lack of a standardized regulatory framework
  • The competition from traditional energy sources

Emerging Trends in Asia Pacific Energy Storage Systems Market

The Asia Pacific Energy Storage Systems Market is witnessing the following emerging trends:

  • The increasing adoption of renewable energy sources
  • The declining cost of energy storage systems
  • The development of new and improved energy storage technologies
  • The growing awareness of the benefits of energy storage systems

Asia Pacific Energy Storage Systems Industry News

  • In March 2022, Tesla has secured a contract from CS Energy, a publicly owned utility based in Queensland, Australia, to provide a 100 MW/200 MWh energy storage system. This system will be utilized to power the electric substation. CS Energy has opted to deploy a grid-scale battery near Chinchilla, aiming to deliver more affordable, dependable, and environmentally friendly energy solutions.
  • In January 2021, Toshiba Corporation has introduced the G9400 Series of uninterruptible power systems designed specifically for large data centers worldwide. These systems are equipped with state-of-the-art insulated-gate bipolar transistor (IGBT) technology and are offered in a diverse range of models. This product release is expected to facilitate the company's expansion of its customer base.

Leading Players in the Asia Pacific Energy Storage Systems Market

The leading players in the Asia Pacific Energy Storage Systems Market include:

Asia Pacific Energy Storage Systems Market Segmentation

  • 1. Technology
    • 1.1. Pumped Hydro
    • 1.2. Electro-Chemical
      • 1.2.1. Lithium-Ion
      • 1.2.2. Sodium Sulphur
      • 1.2.3. Lead Acid
      • 1.2.4. Flow Battery
      • 1.2.5. Others
    • 1.3. Electro-Mechanical
      • 1.3.1. Flywheel
      • 1.3.2. CAES
    • 1.4. Thermal Energy Storage
      • 1.4.1. Water
      • 1.4.2. Molten Salt
      • 1.4.3. PCM
      • 1.4.4. Others
  • 2. Application
    • 2.1. Electric Time Energy Shift
    • 2.2. Electric Supply Capacity
    • 2.3. Black Start
    • 2.4. Renewable Capacity Firming
    • 2.5. Frequency Regulation
    • 2.6. Others

Asia Pacific Energy Storage Systems Market Segmentation By Geography

  • 1. Asia Pacific
    • 1.1. China
    • 1.2. India
    • 1.3. Japan
    • 1.4. Australia
    • 1.5. South Korea
    • 1.6. Indonesia
    • 1.7. Malaysia
    • 1.8. Singapore
    • 1.9. Thailand
    • 1.10. Vietnam
    • 1.11. Philippines
    • 1.12. Sri Lanka

Asia Pacific Energy Storage Systems Market Regional Share

Asia Pacific Energy Storage Systems Market REPORT HIGHLIGHTS

AspectsDetails
Study Period 2019-2033
Base Year 2024
Estimated Year 2025
Forecast Period2025-2033
Historical Period2019-2024
Growth RateCAGR of 18.6% from 2019-2033
Segmentation
    • By Technology
      • Pumped Hydro
      • Electro-Chemical
        • Lithium-Ion
        • Sodium Sulphur
        • Lead Acid
        • Flow Battery
        • Others
      • Electro-Mechanical
        • Flywheel
        • CAES
      • Thermal Energy Storage
        • Water
        • Molten Salt
        • PCM
        • Others
    • By Application
      • Electric Time Energy Shift
      • Electric Supply Capacity
      • Black Start
      • Renewable Capacity Firming
      • Frequency Regulation
      • Others
  • By Geography
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • Indonesia
      • Malaysia
      • Singapore
      • Thailand
      • Vietnam
      • Philippines
      • Sri Lanka
Table Of Content
  1. 1. Introduction
    • 1.1. Research Scope
    • 1.2. Market Segmentation
    • 1.3. Research Methodology
    • 1.4. Definitions and Assumptions
  2. 2. Executive Summary
    • 2.1. Introduction
  3. 3. Market Dynamics
    • 3.1. Introduction
      • 3.2. Market Drivers
        • 3.2.1 Favorable regulatory framework
        • 3.2.2 Growth in the renewable energy sector
        • 3.2.3 Increasing concerns toward security of supply
      • 3.3. Market Restrains
        • 3.3.1 High capital cost of pumped storage plants
        • 3.3.2 Safety concerns
      • 3.4. Market Trends
  4. 4. Market Factor Analysis
    • 4.1. Porters Five Forces
    • 4.2. Supply/Value Chain
    • 4.3. PESTEL analysis
    • 4.4. Market Entropy
    • 4.5. Patent/Trademark Analysis
  5. 5. Asia Pacific Energy Storage Systems Market Analysis, Insights and Forecast, 2019-2031
    • 5.1. Market Analysis, Insights and Forecast - by Technology
      • 5.1.1. Pumped Hydro
      • 5.1.2. Electro-Chemical
        • 5.1.2.1. Lithium-Ion
        • 5.1.2.2. Sodium Sulphur
        • 5.1.2.3. Lead Acid
        • 5.1.2.4. Flow Battery
        • 5.1.2.5. Others
      • 5.1.3. Electro-Mechanical
        • 5.1.3.1. Flywheel
        • 5.1.3.2. CAES
      • 5.1.4. Thermal Energy Storage
        • 5.1.4.1. Water
        • 5.1.4.2. Molten Salt
        • 5.1.4.3. PCM
        • 5.1.4.4. Others
    • 5.2. Market Analysis, Insights and Forecast - by Application
      • 5.2.1. Electric Time Energy Shift
      • 5.2.2. Electric Supply Capacity
      • 5.2.3. Black Start
      • 5.2.4. Renewable Capacity Firming
      • 5.2.5. Frequency Regulation
      • 5.2.6. Others
    • 5.3. Market Analysis, Insights and Forecast - by Region
      • 5.3.1. Asia Pacific
  6. 6. Competitive Analysis
    • 6.1. Market Share Analysis 2024
      • 6.2. Company Profiles
        • 6.2.1 ABB
          • 6.2.1.1. Overview
          • 6.2.1.2. Products
          • 6.2.1.3. SWOT Analysis
          • 6.2.1.4. Recent Developments
          • 6.2.1.5. Financials (Based on Availability)
        • 6.2.2 Abengoa S.A.
          • 6.2.2.1. Overview
          • 6.2.2.2. Products
          • 6.2.2.3. SWOT Analysis
          • 6.2.2.4. Recent Developments
          • 6.2.2.5. Financials (Based on Availability)
        • 6.2.3 Burns & McDonnell
          • 6.2.3.1. Overview
          • 6.2.3.2. Products
          • 6.2.3.3. SWOT Analysis
          • 6.2.3.4. Recent Developments
          • 6.2.3.5. Financials (Based on Availability)
        • 6.2.4 BYD Company Ltd.
          • 6.2.4.1. Overview
          • 6.2.4.2. Products
          • 6.2.4.3. SWOT Analysis
          • 6.2.4.4. Recent Developments
          • 6.2.4.5. Financials (Based on Availability)
        • 6.2.5 CALMAC
          • 6.2.5.1. Overview
          • 6.2.5.2. Products
          • 6.2.5.3. SWOT Analysis
          • 6.2.5.4. Recent Developments
          • 6.2.5.5. Financials (Based on Availability)
        • 6.2.6 Durapower Group
          • 6.2.6.1. Overview
          • 6.2.6.2. Products
          • 6.2.6.3. SWOT Analysis
          • 6.2.6.4. Recent Developments
          • 6.2.6.5. Financials (Based on Availability)
        • 6.2.7 Exide Technologies
          • 6.2.7.1. Overview
          • 6.2.7.2. Products
          • 6.2.7.3. SWOT Analysis
          • 6.2.7.4. Recent Developments
          • 6.2.7.5. Financials (Based on Availability)
        • 6.2.8 General Electric
          • 6.2.8.1. Overview
          • 6.2.8.2. Products
          • 6.2.8.3. SWOT Analysis
          • 6.2.8.4. Recent Developments
          • 6.2.8.5. Financials (Based on Availability)
        • 6.2.9 Hitachi Energy Ltd.
          • 6.2.9.1. Overview
          • 6.2.9.2. Products
          • 6.2.9.3. SWOT Analysis
          • 6.2.9.4. Recent Developments
          • 6.2.9.5. Financials (Based on Availability)
        • 6.2.10 Johnson Controls
          • 6.2.10.1. Overview
          • 6.2.10.2. Products
          • 6.2.10.3. SWOT Analysis
          • 6.2.10.4. Recent Developments
          • 6.2.10.5. Financials (Based on Availability)
        • 6.2.11 LG Energy Solution
          • 6.2.11.1. Overview
          • 6.2.11.2. Products
          • 6.2.11.3. SWOT Analysis
          • 6.2.11.4. Recent Developments
          • 6.2.11.5. Financials (Based on Availability)
        • 6.2.12 McDermott
          • 6.2.12.1. Overview
          • 6.2.12.2. Products
          • 6.2.12.3. SWOT Analysis
          • 6.2.12.4. Recent Developments
          • 6.2.12.5. Financials (Based on Availability)
        • 6.2.13 Narada Power Source Co. Ltd
          • 6.2.13.1. Overview
          • 6.2.13.2. Products
          • 6.2.13.3. SWOT Analysis
          • 6.2.13.4. Recent Developments
          • 6.2.13.5. Financials (Based on Availability)
        • 6.2.14 Panasonic Corporation
          • 6.2.14.1. Overview
          • 6.2.14.2. Products
          • 6.2.14.3. SWOT Analysis
          • 6.2.14.4. Recent Developments
          • 6.2.14.5. Financials (Based on Availability)
        • 6.2.15 Samsung SDI Co. Ltd
          • 6.2.15.1. Overview
          • 6.2.15.2. Products
          • 6.2.15.3. SWOT Analysis
          • 6.2.15.4. Recent Developments
          • 6.2.15.5. Financials (Based on Availability)
        • 6.2.16 SCHMID Group
          • 6.2.16.1. Overview
          • 6.2.16.2. Products
          • 6.2.16.3. SWOT Analysis
          • 6.2.16.4. Recent Developments
          • 6.2.16.5. Financials (Based on Availability)
        • 6.2.17 Siemens
          • 6.2.17.1. Overview
          • 6.2.17.2. Products
          • 6.2.17.3. SWOT Analysis
          • 6.2.17.4. Recent Developments
          • 6.2.17.5. Financials (Based on Availability)
        • 6.2.18 Sinohydro Corporation
          • 6.2.18.1. Overview
          • 6.2.18.2. Products
          • 6.2.18.3. SWOT Analysis
          • 6.2.18.4. Recent Developments
          • 6.2.18.5. Financials (Based on Availability)
        • 6.2.19 Toshiba Corporation
          • 6.2.19.1. Overview
          • 6.2.19.2. Products
          • 6.2.19.3. SWOT Analysis
          • 6.2.19.4. Recent Developments
          • 6.2.19.5. Financials (Based on Availability)
        • 6.2.20 Voith GmbH & Co. KGaA
          • 6.2.20.1. Overview
          • 6.2.20.2. Products
          • 6.2.20.3. SWOT Analysis
          • 6.2.20.4. Recent Developments
          • 6.2.20.5. Financials (Based on Availability)
List of Figures
  1. Figure 1: Asia Pacific Energy Storage Systems Market Revenue Breakdown (Billion, %) by Product 2024 & 2032
  2. Figure 2: Asia Pacific Energy Storage Systems Market Share (%) by Company 2024
List of Tables
  1. Table 1: Asia Pacific Energy Storage Systems Market Revenue Billion Forecast, by Region 2019 & 2032
  2. Table 2: Asia Pacific Energy Storage Systems Market Revenue Billion Forecast, by Technology 2019 & 2032
  3. Table 3: Asia Pacific Energy Storage Systems Market Revenue Billion Forecast, by Application 2019 & 2032
  4. Table 4: Asia Pacific Energy Storage Systems Market Revenue Billion Forecast, by Region 2019 & 2032
  5. Table 5: Asia Pacific Energy Storage Systems Market Revenue Billion Forecast, by Technology 2019 & 2032
  6. Table 6: Asia Pacific Energy Storage Systems Market Revenue Billion Forecast, by Application 2019 & 2032
  7. Table 7: Asia Pacific Energy Storage Systems Market Revenue Billion Forecast, by Country 2019 & 2032
  8. Table 8: China Asia Pacific Energy Storage Systems Market Revenue (Billion) Forecast, by Application 2019 & 2032
  9. Table 9: India Asia Pacific Energy Storage Systems Market Revenue (Billion) Forecast, by Application 2019 & 2032
  10. Table 10: Japan Asia Pacific Energy Storage Systems Market Revenue (Billion) Forecast, by Application 2019 & 2032
  11. Table 11: Australia Asia Pacific Energy Storage Systems Market Revenue (Billion) Forecast, by Application 2019 & 2032
  12. Table 12: South Korea Asia Pacific Energy Storage Systems Market Revenue (Billion) Forecast, by Application 2019 & 2032
  13. Table 13: Indonesia Asia Pacific Energy Storage Systems Market Revenue (Billion) Forecast, by Application 2019 & 2032
  14. Table 14: Malaysia Asia Pacific Energy Storage Systems Market Revenue (Billion) Forecast, by Application 2019 & 2032
  15. Table 15: Singapore Asia Pacific Energy Storage Systems Market Revenue (Billion) Forecast, by Application 2019 & 2032
  16. Table 16: Thailand Asia Pacific Energy Storage Systems Market Revenue (Billion) Forecast, by Application 2019 & 2032
  17. Table 17: Vietnam Asia Pacific Energy Storage Systems Market Revenue (Billion) Forecast, by Application 2019 & 2032
  18. Table 18: Philippines Asia Pacific Energy Storage Systems Market Revenue (Billion) Forecast, by Application 2019 & 2032
  19. Table 19: Sri Lanka Asia Pacific Energy Storage Systems Market Revenue (Billion) Forecast, by Application 2019 & 2032

STEP 1 - Identification of Relevant Samples Size from Population Database

Step Chart
bar chart
method chart

STEP 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

approach chart
Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segemnts, product and application.

Note* : In applicable scenarios

STEP 3 - Data Sources

Primary Research

  • Web Analytics
  • Survey Reports
  • Research Institute
  • Latest Research Reports
  • Opinion Leaders

Secondary Research

  • Annual Reports
  • White Paper
  • Latest Press Release
  • Industry Association
  • Paid Database
  • Investor Presentations
approach chart

STEP 4 - Data Triangulation

Involves using different sources of information in order to increase the validity of a study

These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.

Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.

During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence

Additionally after gathering mix and scattered data from wide range of sources, data is triangull- ated and correlated to come up with estimated figures which are further validated through primary mediums, or industry experts, opinion leader.

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