Pumped hydro systems dominate the global energy storage market. Their market size is forecast to increase from 233 billion U.S. dollars to over 450 billion U.S. dollars between 2023 and 2031. Electrochemical, thermal storage, and electromechanical energy storage systems account for the remaining share of the market.
More information on the global energy storage system market can be found here.
Market size of energy storage systems worldwide in 2023 with a forecast until 2031, by type
(in billion U.S. dollars)
Characteristic
Pumped hydro
Electrochemical
Thermal storage
Electromechanical
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Extrapolate. (March 15, 2024). Market size of energy storage systems worldwide in 2023 with a forecast until 2031, by type (in billion U.S. dollars) [Graph]. In Statista. Retrieved August 24, 2024, from https://www.statista.com/statistics/1457925/global-energy-storage-market-size-by-type-forecast/
Extrapolate. "Market size of energy storage systems worldwide in 2023 with a forecast until 2031, by type (in billion U.S. dollars)." Chart. March 15, 2024. Statista. Accessed August 24, 2024. https://www.statista.com/statistics/1457925/global-energy-storage-market-size-by-type-forecast/
Extrapolate. (2024). Market size of energy storage systems worldwide in 2023 with a forecast until 2031, by type (in billion U.S. dollars). Statista. Statista Inc.. Accessed: August 24, 2024. https://www.statista.com/statistics/1457925/global-energy-storage-market-size-by-type-forecast/
Extrapolate. "Market Size of Energy Storage Systems Worldwide in 2023 with a Forecast until 2031, by Type (in Billion U.S. Dollars)." Statista, Statista Inc., 15 Mar 2024, https://www.statista.com/statistics/1457925/global-energy-storage-market-size-by-type-forecast/
Extrapolate, Market size of energy storage systems worldwide in 2023 with a forecast until 2031, by type (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1457925/global-energy-storage-market-size-by-type-forecast/ (last visited August 24, 2024)
Market size of energy storage systems worldwide in 2023 with a forecast until 2031, by type (in billion U.S. dollars) [Graph], Extrapolate, March 15, 2024. [Online]. Available: https://www.statista.com/statistics/1457925/global-energy-storage-market-size-by-type-forecast/