Battery energy storage system (BESS) market is anticipated to grow at a CAGR of 20.1% during the forecast period (2025-2035). The demand for BESS is increasing due to renewable energy adoption, grid modernization, and rising cost efficiency. BESS balances energy supply and demand, stabilizes the grid, and improves resilience. Technological advancements make it competitive and useful for off-grid and remote power solutions.
Get Free Sample link @ https://www.omrglobal.com/request-sample/battery-energy-storage-system-market
Renewable energy integration involves upgrading substations and transmission systems to manage intermittent power delivery, ensuring grid stability, and driving market growth. According to the US Energy Information Administration, in November 2024, from 2003 to 2023, spending on electricity transmission systems rose significantly, reaching $27.7 billion. These systems include the components necessary to carry high-voltage electricity over long distances to local distribution grids. In 2023, utilities allocated $6.1 billion to distribution substation equipment, marking an 184% increase since 2003 and a 15% rise compared to 2022. This investment aims to improve resilience against extreme weather, manage renewable energy intermittency, and enhance voltage control during emergencies. Although energy storage accounts for a smaller share of distribution infrastructure spending, it grew from $97 million in 2022 to $723 million in 2023, supporting power quality and backup power needs as more renewable resources are integrated.
full report of Battery Energy Storage System Market available @ https://www.omrglobal.com/industry-reports/battery-energy-storage-system-market
- Market Coverage
- Market number available for – 2025-2031
- Base year- 2025
- Forecast period- 2025-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Battery Energy Storage System Market Report Segment
By Type
- Hardware
- Software
- Services
By Application
- Utility
- Commercial and Industrial
- Residential
By Ownership
- Customer Owned
- Third-Party Owned
- Utility Owned
By Energy Capacity
- Below 100 MWh
- Between 100 MWh & 500 MWh
- Above 500 MWh
By Connection Type
- On-Grid
- Off Grid
Global Battery Energy Storage System Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia and New Zealand
- ASEAN Economies
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2024 and forecast to 2035.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global battery energy storage system market. Based on the availability of data, information related to new products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/battery-energy-storage-system-market
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404
