Dublin, Sept. 19, 2024 (GLOBE NEWSWIRE) -- The "U.S. Advanced Battery Energy Storage System Market Size, Share & Trends Analysis Report By Product (Lithium-Ion, Lead-Acid, Sodium Sulfur), By Application, And Segment Forecasts, 2024 - 2030" report has been added to ResearchAndMarkets.com's offering.
The U.S. Advanced Battery Energy Storage System market size is anticipated to reach USD 2.36 billion by 2030
The market is projected to grow at a CAGR of 19.6% from 2024 to 2030. Technological advancement and presence of a large number of market players are expected to propel demand over the forecast period. 
Advanced battery energy storage systems market is expected to witness a significant rise in demand in the coming future on account of rising technological innovation in the field of smart metering, smart grids, and home control devices. In addition, growing R&D activities and rising investments in the field of distributed energy storage is expected to drive the market growth over the forecast period. Rising emphasis by the government to reduce the dependency on fossil fuels to achieve energy needs and increase the share of renewable sources in the energy mix is expected to drive the market demand for the product in the grid storage over the forecast period.
In 2023, Lithium-Ion batteries dominated the market, accounting for a significant share of 78.9%, primarily due to their superior energy density compared to other established battery technologies. The grid storage segment also led the market in 2023 and is expected to experience continued growth during the forecast period.
Manufacturers in the battery industry leverage an extensive distribution network to meet evolving consumer demands. There is intense competition among market players, driven by the need for advanced battery technologies in various end-use markets. This rapid shift is crucial for keeping up with technological advancements and meeting consumer requirements. Product differentiation plays a vital role in strengthening companies' positions within the market.
Key players focus on directly supplying their products to end-users. Strategies such as new product development to foster differentiation, expansion, and technological innovations aimed at reducing costs and enhancing battery storage efficiency are commonly adopted by these companies. These efforts are geared toward maintaining competitive advantages and satisfying the growing demand for advanced battery solutions.
Companies Featured
- Tesla
- Fluence Energy
- The AES Corporation
- LG Chem
- Samsung SDI
- Volta Grid
- NextEra Energy
- BYD Company
- Hitachi Ltd.
- Exide Technologies
- AES Technologies
- Samsung SDI
- EnerSys
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 80 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $656.7 Million |
| Forecasted Market Value (USD) by 2030 | $2360 Million |
| Compound Annual Growth Rate | 19.6% |
| Regions Covered | United States |
Key Topics Covered:
Chapter 1. Methodology and Scope
1.1. Market Segmentation and Scope
1.2. Market Definitions
1.3. Research Methodology
1.3.1. Information Procurement
1.3.2. Information or Data Analysis
1.3.3. Market Formulation & Data Visualization
1.3.4. Data Validation & Publishing
1.4. Research Scope and Assumptions
1.4.1. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. U.S. Advanced Battery Energy Storage System Market Variables, Trends, & Scope
3.1. Market Introduction/Lineage Outlook
3.2. Market Size and Growth Prospects (USD Billion)
3.3. Market Dynamics
3.3.1. Market Drivers Analysis
3.3.2. Market Restraints Analysis
3.4. U.S. Advanced Battery Energy Storage System Market Analysis Tools
3.4.1. Porter's Analysis
3.4.2. PESTEL Analysis
Chapter 4. U.S. Advanced Battery Energy Storage System Market Product Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. U.S. Advanced Battery Energy Storage System Market: Product Movement Analysis, 2023 & 2030 (USD Billion)
4.3. Lithium-Ion
4.3.1. Lithium-Ion Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
4.4. Lead-Acid
4.5. Sodium Sulfur
Chapter 5. U.S. Advanced Battery Energy Storage System Market: Application Estimates & Trend Analysis
5.1. Segment Dashboard
5.2. U.S. Advanced Battery Energy Storage System Market: Application Movement Analysis, 2023 & 2030 (USD Billion)
5.3. Transportation
5.3.1. Transportation Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
5.4. Grid Storage
5.5. Uninterruptible Power Supply (UPS)
5.6. Telecom
Chapter 6. Competitive Landscape
6.1. Recent Developments & Impact Analysis by Key Market Participants
6.2. Company Categorization
6.3. Company Heat Map Analysis
6.4. Company Profiles
6.4.1. Participant's Overview
6.4.2. Financial Performance
6.4.3. Product Benchmarking
6.4.4. Recent Developments/ Strategic Initiatives
For more information about this report visit https://www.researchandmarkets.com/r/i7dwe3
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
