Energy Storage

The energy storage industry is rapidly becoming a critical enabler of the global energy transition, supporting grid flexibility, peak load management, renewable integration, and electric mobility. In 2024, total global energy storage installations reached 175.4 GWh, with Asia-Pacific leading deployment (China: 100 GWh), followed by the U.S. (41.3 GWh) and Europe (19.1 GWh). Growth is fueled by industrial electrification, sectoral energy storage demand, renewable adoption, and increasing per capita storage deployment, alongside investments in smart grids, microgrids, energy management systems (EMS), and distributed storage solutions, making energy storage a strategic component of modern energy infrastructure.

The energy storage industry encompasses a diverse array of storage technologies, including lithium-ion batteries, flow batteries, pumped hydro, compressed air, and emerging solid-state solutions. Lithium-ion dominates due to high energy density, cost reductions, and scalability, while long-duration storage is gaining traction for balancing intermittent renewable generation and supporting grid stability. Companies in the energy storage market like CATL, LG Energy Solution, Tesla, Fluence, and ABB provide end-to-end energy storage solutions, integrating systems with utilities, grid operators, commercial users, and EV charging networks. Technology innovation, raw material availability (lithium, cobalt, nickel), regional regulatory policies, and cost drivers are shaping deployment, pricing, adoption, and operational efficiency strategies.

Regional dynamics of the energy storage market show China as the largest market, driven by domestic EV demand, utility-scale storage, and renewable integration, while Europe focuses on front-of-meter storage for grid stabilization, frequency regulation, and decarbonization compliance. North America emphasizes residential and commercial hybrid systems, and emerging markets in Latin America and Southeast Asia are expanding storage to strengthen grid reliability, energy security, and off-grid electrification. Infrastructure & distribution considerations include pumped hydro plants, battery storage systems, microgrids, and transmission interconnection.

While the Energy storage market sector faces high capital intensity, raw material constraints, and regulatory uncertainty, opportunities lie in digitalization, predictive maintenance, smart energy management platforms, recycling and end-of-life solutions, and hybrid storage integration. These factors enable the industry to enhance resilience, sustainability, operational efficiency, and long-term competitiveness globally, positioning energy storage as a strategically vital sub-industry within the Energy & Power sector."

Dominant Technology
Lithium-ion
Utility Share
60 %
China Import Share
EVE Energy

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Solid Electrolytes
The global solid electrolytes market is projected to expand at a CAGR of 12% between 2025 and 2032, driven by electric vehicles (EVs), grid-scale energy storage, and OEM-led solid-state battery commercialization. Asia Pacific continues to dominate the solid electrolytes industry, supported by raw material availability, advanced ceramic powder processing, and mature supply chains, while North America emerges as the fastest-growing market, benefiting from EV tax credits, localization mandates, and venture-backed pilot plants. On the production and consumption side, polymer-based solid electrolytes recorded 4,500 tons of output in 2023, reflecting commercial traction in consumer electronics, thin-film batteries, mobility, and medical device applications. Inorganic formats, particularly ceramic, sulfide, and oxide-based electrolytes, retain leadership with approximately 39% share in 2024 due to higher ionic conductivity, dendrite suppression, and superior safety performance.Global solid electrolytes trade is evolving as imports of ceramic electrolytes, sulfide powders, and hybrid composites rise across Europe and North America, reflecting heavy reliance on Asia-based production hubs. Export opportunities are growing for polymer–ceramic hybrid electrolytes and next-generation composite materials, though tariffs on battery components in the US and EU remain barriers to market penetration. Pricing trends highlight the premium positioning of ceramic and sulfide systems for EV solid-state batteries, compared with cost-sensitive polymer electrolytes used in wearables, consumer electronics, and flexible devices. Cost structures remain capital-intensive, shaped by ceramic sintering lines, thin film deposition methods, and interface engineering processes, while operating expenditure is driven by precursor sourcing and energy-intensive fabrication.The solid electrolytes market is transitioning from technology validation to scalable manufacturing, with an emphasis on enhancing electrochemical stability, increasing energy density, and ensuring intrinsic safety over liquid-based systems. Key players of solid electrolytes market shaping the competitive landscape include QuantumScape, Solid Power, ProLogium Technology, and Samsung SDI, whose R&D investments, strategic partnerships, and pilot-to-commercial scale projects are setting the pace for technological advancement. However, manufacturability challenges, moisture sensitivity, and elevated costs remain key restraints. Solid electrolytes market expansion opportunities are reinforced by EV electrification, grid-scale deployment, recycling initiatives, and OEM gigafactory integration, with long-term leadership hinging on economies of scale, cost reduction strategies, and alignment with sustainability and ESG goals, ultimately driving mainstream adoption over the coming decade.

Industry definition

The Energy Storage industry involves the development, manufacturing, and deployment of solutions that store and manage electrical energy for grid, industrial, commercial, and residential applications. Its value chain spans battery production, energy management systems, system integration, installation, maintenance, and distribution, enabling reliable and flexible energy availability. Competitive dynamics are shaped by global leaders such as CATL, LG Energy Solution, and Panasonic, alongside regional producers and innovative startups developing high-capacity, long-duration, and environmentally optimised storage solutions. Market positioning is increasingly determined by energy density, lifecycle performance, safety standards, cost efficiency, and integration with renewable generation and smart grid technologies. The sector is undergoing a shift as digital platforms, AI-enabled battery management systems, predictive maintenance, and energy optimisation software enhance operational efficiency and grid reliability. At the same time, sustainability imperatives ranging from second-life batteries, recyclable materials, low-carbon production, and hybrid storage solutions are becoming central to long-term competitiveness. Growing demand for grid stability, renewable energy integration, and backup power is redefining how energy storage solutions create value across power networks worldwide.

Energy and Power