Summary

The Europe and South America energy storage market is projected to reach USD 43,940.5 million by 2035, expanding at a robust CAGR of 15.7% from 2025 to 2035. Energy storage plays a critical role in enabling efficient and reliable energy systems by essentially storing energy when there is a surplus and releasing it at times of shortage.

Favorable EU Policy Framework
Taking into consideration the EU storage of energy as a separate asset class has guaranteed energy storage access to the market and regulatory certainty. Consequently, this has led to the ramping up of investments and the coming together of large-scale deployment throughout Europe.

Energy Storage Market Breakdown
By Technology
- Pumped Hydro Storage: Long-term storage for grid balancing
- Battery Energy Storage: Rapid, scalable, renewable-friendly storage
- Compressed Air Energy Storage: Utility-scale underground energy storage
- Flywheel Energy Storage: High power, low energy storage
- Others: Hybrid and experimental storage technologies
By Type
- Mechanical: Motion-based energy storage technologies
- Thermal: Heat storage for energy efficiency
- Electro-Chemical: Battery-based electrical energy storage
- Chemical: Energy stored in molecular bonds
By End-User
- Utility: Grid-level energy storage deployment
- Commercial & Industrial: Operational efficiency and backup needs
- Residential: Self-generation support and energy independence

Strong Policy and Regulatory Push
Powerful regulatory drivers for climate action and grid regulations in Europe are tapping the energy storage potential of the continent. While South America is taking steps through new reforms and pilot programs.

Key Report Attributes
- Market Size 2024: USD 8,901.9 Million
- Market Size 2035: USD 43,940.5 Million
- CAGR (2025-2035): 15.7%
- Base Year: 2024
- Market Forecast Period: 2025-2035

Industry Segmentations Growth
- By Technology: Pumped Hydro Storage - 11.0%, Battery Energy Storage - 15.9%.
- By Type: Mechanical - 12.6%, Thermal - 12.4%.
- By End-User: Utility - 15.5%, Commercial & Industrial - 15.2%.

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Table of Contents

TABLE OF CONTENTS

1 EXECUTIVE SUMMARY ...... 18
2 MARKET INTRODUCTION ........ 24
2.1 DEFINITION ....... 24
2.2 SCOPE OF THE STUDY ....... 24
2.3 RESEARCH OBJECTIVE ..... 24
2.4 MARKET STRUCTURE ....... 25
3 RESEARCH METHODOLOGY ....... 26
3.1 OVERVIEW ......... 26
3.2 DATA FLOW ....... 28
3.2.1 DATA MINING PROCESS ..... 29
3.3 PURCHASED DATABASE: ....... 30
3.4 SECONDARY SOURCES: ..... 31
3.4.1 SECONDARY RESEARCH DATA FLOW: ..... 32
3.5 PRIMARY RESEARCH: ........ 32
3.5.1 PRIMARY RESEARCH DATA FLOW: ......... 34
3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED ........ 35
3.6 APPROACHES FOR MARKET SIZE ESTIMATION: ...... 35
3.6.1 CONSUMPTION & NET TRADE APPROACH ....... 35
3.6.2 REVENUE ANALYSIS APPROACH ......... 35
3.7 DATA FORECASTING..... 36
3.7.1 DATA FORECASTING TECHNIQUE ......... 37
3.8 DATA MODELING ....... 38
3.8.1 MICROECONOMIC FACTOR ANALYSIS: ......... 38
3.8.2 DATA MODELING: ........ 39
3.9 TEAMS AND ANALYST CONTRIBUTION ....... 40
4 MARKET DYNAMICS ...... 43
4.1 INTRODUCTION ..... 43
4.2 DRIVERS ......... 44
4.2.1 RENEWABLE ENERGY EXPANSION ....... 44
4.2.2 POLICY & REGULATORY SUPPORT ..... 50
4.3 RESTRAINTS ..... 52
4.3.1 HIGH UPFRONT COSTS ........ 52
4.3.2 LACK OF FINANCIAL INCENTIVES/SUBSIDIES ........ 52
4.4 OPPORTUNITY ....... 55
4.4.1 FALLING BATTERY COSTS ..... 55
4.4.2 SOLAR + STORAGE GROWTH IN MINING SECTOR ...... 57
4.5 IMPACT ANALYSIS OF RUSSIA UKRAINE WAR ........ 57
4.6 IMPACT OF TRUMP 2.0 ..... 58
5 MARKET FACTOR ANALYSIS ....... 61
5.1 SUPPLY/VALUE CHAIN ANALYSIS ....... 61
5.1.1 RAW MATERIAL SOURCING ....... 61
5.1.2 COMPONENT MANUFACTURING ...... 62
5.1.3 ASSEMBLY & SYSTEM INTEGRATION ......... 63
5.1.4 LOGISTICS AND DISTRIBUTION ......... 63
5.1.5 END-USE APPLICATIONS ......... 63
5.2 PORTER’S FIVE FORCES MODEL: EUROPE ENERGY STORAGE MARKET ....... 65
5.2.1 THREAT OF NEW ENTRANTS – MODERATE ........ 65
5.2.2 THREAT OF SUBSTITUTES – MODERATE ...... 66
5.2.3 BARGAINING POWER OF SUPPLIERS – HIGH ..... 66
5.2.4 BARGAINING POWER OF BUYERS- MODERATE TO HIGH ....... 66
5.2.5 INTENSITY OF RIVALRY- HIGH ......... 67
5.3 PORTER’S FIVE FORCES MODEL: SOUTH AMERICA ENERGY STORAGE MARKET ........ 67
5.3.1 THREAT OF NEW ENTRANTS- MODERATE ..... 67
5.3.2 THREAT OF SUBSTITUTES – MODERATE ...... 67
5.3.3 BARGAINING POWER OF SUPPLIERS- HIGH ....... 68
5.3.4 BARGAINING POWER OF BUYERS- LOW TO MODERATE ....... 68
5.3.5 INTENSITY OF RIVALRY- MODERATE ....... 68
5.4 PESTLE ANALYSIS ......... 69
5.5 PRICING ANALYSIS, BY REGION, 2019-2035, USD/KW ........ 70
5.6 TECHNOLOGY ADVANCEMENTS ...... 70
5.6.1 COMPATIBILITY WITH END-USER INDUSTRIES ......... 70
5.6.2 ADVANCED TESTING AND ANALYSIS ......... 71
5.6.3 REGULATORY FRAMEWORK ........ 72
5.6.4 GOVERNMENT POLICIES ..... 72
5.6.6 CERTIFICATION AND STANDARDS ......... 74
6 EUROPE & SOUTH AMERICA ENERGY STORAGE MARKET, BY TECHNOLOGY ..... 77
6.1 OVERVIEW ......... 77
6.2 PUMPED HYDRO STORAGE ........ 77
6.3 BATTERY ENERGY STORAGE ........ 77
6.4 COMPRESSED AIR ENERGY STORAGE ....... 77
6.5 FLYWHEEL ENERGY STORAGE ..... 78
6.6 OTHERS ..... 78
7 EUROPE & SOUTH AMERICA ENERGY STORAGE MARKET, BY TYPE ..... 80
7.1 OVERVIEW ......... 80
7.2 MECHANICAL ........ 80
7.3 THERMAL ..... 80
7.4 ELECTRO-CHEMICAL ......... 80
7.5 CHEMICAL..... 81
8 EUROPE & SOUTH AMERICA ENERGY STORAGE MARKET, BY END-USER ...... 83
8.1 OVERVIEW ......... 83
8.2 UTILITY ..... 83
8.3 COMMERCIAL & INDUSTRIAL ........ 83
8.4 RESIDENTIAL ......... 83
9 EUROPE & SOUTH AMERICA ENERGY STORAGE MARKET, BY REGION ..... 85
9.1 OVERVIEW ......... 85
9.2 EUROPE ..... 86
9.2.1 GERMANY ....... 88
9.2.2 UK ...... 89
9.2.3 FRANCE ..... 90
9.2.4 RUSSIA ...... 92
9.2.5 ITALY ......... 93
9.2.6 SPAIN ....... 94
9.2.7 NETHERLANDS ........ 95
9.2.8 POLAND ........ 96
9.2.9 CZECH REPUBLIC ........ 98
9.2.10 ROMANIA........ 99
9.2.11 HUNGARY ........ 100
9.2.12 REST OF EUROPE ......... 102
9.3 SOUTH AMERICA ...... 104
9.3.1 BRAZIL ....... 105
9.3.2 ARGENTINA ...... 107
9.3.3 REST OF SOUTH AMERICA ....... 108
10 COMPETITIVE LANDSCAPE ......... 111
10.1 INTRODUCTION ..... 111
10.2 MARKET SHARE ANALYSIS, 2024 ......... 112
10.3 COMPETITION DASHBOARD ...... 112
10.4 COMPARATIVE ANALYSIS: KEY PLAYERS FINANCIAL ........ 113
10.5 KEY DEVELOPMENTS & GROWTH STRATEGIES ....... 113
10.5.1 ACQUISITION ..... 113
10.5.2 CAPACITY EXPANSION ....... 114
10.5.3 NEW PRODUCT LAUNCH ......... 114
11 COMPANY PROFILES ......... 115
11.1 ABB ........ 115
11.1.1 COMPANY OVERVIEW ........ 115
11.1.2 FINANCIAL OVERVIEW ....... 116
11.1.3 PRODUCTS OFFERED..... 116
11.1.4 KEY DEVELOPMENTS ......... 117
11.1.5 SWOT ANALYSIS ..... 117
11.1.6 KEY STRATEGY ....... 118
11.2 SIEMENS ........ 119
11.2.1 COMPANY OVERVIEW ........ 119
11.2.2 FINANCIAL OVERVIEW ....... 120
11.2.3 PRODUCTS OFFERED..... 120
11.2.4 KEY DEVELOPMENTS ......... 121
11.2.5 SWOT ANALYSIS ..... 121
11.2.6 KEY STRATEGY ....... 122
11.3 BYD ........ 123
11.3.1 COMPANY OVERVIEW ........ 123
11.3.2 FINANCIAL OVERVIEW ....... 124
11.3.3 PRODUCTS OFFERED..... 124
11.3.4 KEY DEVELOPMENTS ......... 124
11.3.5 SWOT ANALYSIS ..... 125
11.3.6 KEY STRATEGY ....... 126
11.4 TESLA ENERGY ..... 127
11.4.1 COMPANY OVERVIEW ........ 127
11.4.2 FINANCIAL OVERVIEW ....... 128
11.4.3 PRODUCTS OFFERED..... 128
11.4.4 KEY DEVELOPMENTS ......... 129
11.4.5 SWOT ANALYSIS ..... 129
11.4.6 KEY STRATEGY ....... 130
11.5 SMA SOLAR ....... 131
11.5.1 COMPANY OVERVIEW ........ 131
11.5.2 FINANCIAL OVERVIEW ....... 132
11.5.3 PRODUCTS OFFERED..... 132
11.5.4 KEY DEVELOPMENTS ......... 133
11.5.5 SWOT ANALYSIS ..... 133
11.5.6 KEY STRATEGY ....... 133
11.6 VARTA AG ..... 135
11.6.1 COMPANY OVERVIEW ........ 135
11.6.2 FINANCIAL OVERVIEW ....... 136
11.6.3 PRODUCTS OFFERED..... 136
11.6.4 KEY DEVELOPMENTS ......... 137
11.6.5 SWOT ANALYSIS ..... 137
11.6.6 KEY STRATEGY ....... 138
11.7 EATON ....... 139
11.7.1 COMPANY OVERVIEW ........ 139
11.7.2 FINANCIAL OVERVIEW ....... 140
11.7.3 PRODUCTS OFFERED..... 140
11.7.4 KEY DEVELOPMENTS ......... 140
11.7.5 SWOT ANALYSIS ..... 141
11.7.6 KEY STRATEGY ....... 141
11.8 WÄRTSILÄ ......... 142
11.8.1 COMPANY OVERVIEW ........ 142
11.8.2 FINANCIAL OVERVIEW ....... 143
11.8.3 PRODUCTS OFFERED..... 143
11.8.4 KEY DEVELOPMENTS ......... 144
11.8.5 SWOT ANALYSIS ..... 144
11.8.6 KEY STRATEGY ....... 144
11.9 SUNGROW ..... 145
11.9.1 COMPANY OVERVIEW ........ 145
11.9.2 FINANCIAL OVERVIEW ....... 146
11.9.3 PRODUCTS OFFERED..... 146
11.9.4 KEY DEVELOPMENTS ......... 146
11.9.5 SWOT ANALYSIS ..... 147
11.9.6 KEY STRATEGY ....... 147
11.10 BATTLINK ..... 148
11.10.1 COMPANY OVERVIEW ........ 148
11.10.2 FINANCIAL OVERVIEW ....... 149
11.10.3 PRODUCTS OFFERED..... 149
11.10.4 KEY DEVELOPMENTS ......... 149
11.10.5 SWOT ANALYSIS ..... 149
11.10.6 KEY STRATEGY ....... 150
11.11 DATA CITATIONS ...... 151

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List of Tables/Graphs

LIST OF TABLES

TABLE 1 QFD MODELING FOR MARKET SHARE ASSESSMENT 39
TABLE 1 EUROPE & SOUTH AMERICA ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 79
TABLE 2 EUROPE & SOUTH AMERICA ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 81
TABLE 3 EUROPE & SOUTH AMERICA ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 84
TABLE 4 EUROPE & SOUTH AMERICA ENERGY STORAGE MARKET, BY REGION, 2019-2035 (USD MILLION) 85
TABLE 5 EUROPE ENERGY STORAGE MARKET, BY COUNTRY, 2019-2035 (USD MILLION) 86
TABLE 6 EUROPE ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 87
TABLE 7 EUROPE ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 87
TABLE 8 EUROPE ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 87
TABLE 9 GERMANY ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 88
TABLE 10 GERMANY ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 88
TABLE 11 GERMANY ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 89
TABLE 12 UK ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 89
TABLE 13 UK ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 90
TABLE 14 UK ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 90
TABLE 15 FRANCE ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 90
TABLE 16 FRANCE ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 91
TABLE 17 FRANCE ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 91
TABLE 18 RUSSIA ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 92
TABLE 19 RUSSIA ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 92
TABLE 20 RUSSIA ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 92
TABLE 21 ITALY ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 93
TABLE 22 ITALY ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 93
TABLE 23 ITALY ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 94
TABLE 24 SPAIN ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 94
TABLE 25 SPAIN ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 94
TABLE 26 SPAIN ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 95
TABLE 27 NETHERLANDS ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 95
TABLE 28 NETHERLANDS ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 96
TABLE 29 NETHERLANDS ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 96
TABLE 30 POLAND ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 96
TABLE 31 POLAND ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 97
TABLE 32 POLAND ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 97
TABLE 33 CZECH REPUBLIC ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 98
TABLE 34 CZECH REPUBLIC ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 98
TABLE 35 CZECH REPUBLIC ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 99
TABLE 36 ROMANIA ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 99
TABLE 37 ROMANIA ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 100
TABLE 38 ROMANIA ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 100
TABLE 39 HUNGARY ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 100
TABLE 40 HUNGARY ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 101
TABLE 41 HUNGARY ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 101
TABLE 42 REST OF EUROPE ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 102
TABLE 43 REST OF EUROPE ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 102
TABLE 44 REST OF EUROPE ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 103
TABLE 45 SOUTH AMERICA ENERGY STORAGE MARKET, BY COUNTRY, 2019-2035 (USD MILLION) 104
TABLE 46 SOUTH AMERICA ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 104
TABLE 47 SOUTH AMERICA ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 105
TABLE 48 SOUTH AMERICA ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 105
TABLE 49 BRAZIL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 105
TABLE 50 BRAZIL ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 106
TABLE 51 BRAZIL ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 106
TABLE 52 ARGENTINA ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 107
TABLE 53 ARGENTINA ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 107
TABLE 54 ARGENTINA ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 108
TABLE 55 REST OF SOUTH AMERICA ENERGY STORAGE MARKET, BY TECHNOLOGY, 2019-2035 (USD MILLION) 108
TABLE 56 REST OF SOUTH AMERICA ENERGY STORAGE MARKET, BY TYPE, 2019-2035 (USD MILLION) 108
TABLE 57 REST OF SOUTH AMERICA ENERGY STORAGE MARKET, BY END-USER, 2019-2035 (USD MILLION) 109
TABLE 58 COMPETITION DASHBOARD: EUROPE AND SOUTH AMERICA ENERGY STORAGE MARKET 112
TABLE 59 COMPARATIVE ANALYSIS: KEY PLAYERS FINANCIAL 113
TABLE 60 ACQUISITION 113
TABLE 61 CAPACITY EXPANSION 114
TABLE 62 NEW PRODUCT LAUNCH 114
TABLE 63 ABB PRODUCTS OFFERED 116
TABLE 64 ABB: KEY DEVELOPMENTS 117
TABLE 65 SIEMENS COMPANY: PRODUCTS OFFERED 120
TABLE 66 SIEMENS COMPANY: KEY DEVELOPMENTS 121
TABLE 67 BYD PRODUCTS OFFERED 124
TABLE 68 BYD: KEY DEVELOPMENTS 124
TABLE 69 TESLA ENERGY PRODUCTS OFFERED 128
TABLE 70 TESLA ENERGY KEY DEVELOPMENTS 129
TABLE 71 SMA SOLAR: PRODUCTS OFFERED 132
TABLE 72 SMA SOLAR: KEY DEVELOPMENT 133
TABLE 73 VARTA AG PRODUCTS OFFERED 136
TABLE 74 EATON. PRODUCTS OFFERED 140
TABLE 75 WÄRTSILÄ.PRODUCTS OFFERED 143
TABLE 76 SUNGROW PRODUCTS OFFERED 146
TABLE 77 BATTLINK: PRODUCTS OFFERED 149