Energy storage market seen reaching $219.6B by 2030

The Business Research Company says the global energy storage market will rise from $107.6 billion in 2025 to $123.9 billion in 2026, then reach $219.63 billion by 2030. The report points to EV charging buildout, renewable energy growth and grid stability needs as key demand drivers, with Asia-Pacific leading the market.

Why it matters: - Energy storage is becoming a core part of power systems as utilities, businesses and governments add more renewable energy and electric vehicle infrastructure. - The market outlook points to sustained double-digit growth, which signals more investment in batteries, grid services and storage-linked charging networks. - Asia-Pacific already holds the largest market share and is expected to remain the fastest-growing region, shaping where future supply chains and deployment activity concentrate.

What happened: - The Business Research Company released its Energy Storage Market Report 2026, covering market size, trends and a global forecast for 2026-2035. - The report estimates the energy storage market will grow from $107.6 billion in 2025 to $123.9 billion in 2026. - The report projects the market will reach $219.63 billion by 2030. - The report was issued from London on October 5, 2026. - The company offers a free sample of the report. - The company also provides the full energy storage market report.

The details: - The report says the market's 2025-2026 growth reflects renewable energy adoption, higher electricity consumption tied to urbanization, early pumped hydro storage deployments, government incentives for clean energy and advances in grid stabilization technology. - The forecast through 2030 reflects faster solar and wind buildout, more demand for grid flexibility and reliability, lower battery storage costs, expanded EV charging infrastructure and more smart grid integration. - Energy storage systems store surplus power and release it when needed, helping balance supply and demand. - These systems support grid stability, improve energy efficiency, provide backup power and help manage loads. - The report identifies EV charging infrastructure as a major growth driver for storage demand. - Government incentives and funding have accelerated charging-station deployment in urban centers and along highways. - Energy storage helps charging networks manage peak electricity loads, reduce grid congestion and maintain power supply during high-demand periods. - The International Energy Agency reported in March 2025 that more than 1.3 million public EV charging points were added worldwide in 2024, a rise of over 30% from the prior year. - The report covers Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa.

Between the lines: - The market outlook suggests energy storage is moving from a supporting technology to a required part of the clean-power buildout. - The EV charging boom strengthens the business case for storage because charging loads can strain local grids without added flexibility. - Asia-Pacific's lead implies the region may set the pace for deployment scale, competition and pricing pressure.

What's next: - The report expects the market's rapid growth to continue as battery costs fall and renewable generation expands. - The company says its 2026 report set includes market attractiveness scoring, TAM analysis, company scoring matrix graphics and tables, Excel-based forecasting dashboards, market hotspots infographics, key technology analysis and updated graphics and tables. - The company's contact details for inquiries include Saumya Sahay and marketing@tbrc.info. - The company's social links listed in the release include LinkedIn, LinkedIn, Facebook and X.

The bottom line: - The energy storage market is expanding fast because grids, renewables and EV charging all need more flexibility, and the next few years could bring another major jump in demand.