According to the recent research report titled ‘Global Energy Storage Market (2022 Edition) - Analysis By Type (Battery, PSH, TES, Others), End-User, By Region, By Country: Market Insights and Forecast with Impact of Covid-19 (2022-2027)’ available with MarketStudyReport, global energy storage market was valued at USD 64.96 Billion in 2021 and is estimated to grow considerably through 2027.

The global energy storage market growth is driven by growing government support, rapid urbanization, increasing environmental concerns, and rising demand for clean energy that enhances value in the near future.

Request sample copy of this report: https://www.marketstudyreport.com/request-a-sample/4814123/  

The widespread usage of lithium-based batteries across EVs and ESS systems due to the increase in awareness regarding pollution will also drive the market growth.

The global energy storage industry space is segmented based on type and end-user landscape. By type, the market is divided into pumped-storage hydroelectricity (PSH), batteries, thermal energy storage (TES), and others. The batteries segment holds the largest market share and is expected to witness significant growth through the study timeline.

Based on the end-user landscape, the market is bifurcated into commercial, industrial, and residential. The industrial segment holds the largest revenue share and is estimated to witness substantial returns through 2022-2027 owing to factors such as rising demand for electric vehicles.

The regional analysis of the global energy storage industry market involves countries like North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa. In 2021, Asia Pacific market registered the highest growth and is expected to follow similar trends until 2027. This can be attributed to the growing energy demand , rising population, and collective inclination towards using renewable energy sources.

The leading companies operating in global energy storage industry are Fluence, Powin, Wärtsilä Oyj Abp, Tesla Inc., Panasonic Corp., Toshiba Corp., LG Chem Ltd., GS Yuasa, BYD Co. Ltd., and General Electric Co.