Grid Scale Battery Storage Market Insights Video

According to Cognitive Market Research, the global Grid Scale Battery Storage market size was USD 10251.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 34.20% from 2024 to 2031.

• North America held the major market share for more than 40% of the global revenue with a market size of USD 4100.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 32.4% from 2024 to 2031.
• Europe accounted for a market share of over 30% of the global revenue with a market size of USD 3075.36 million.
• Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 2357.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 36.2% from 2024 to 2031.
• Latin America had a market share of more than 5% of the global revenue with a market size of USD 512.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 33.6% from 2024 to 2031.
• Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 205.02 million in 2024 and will grow at a compound annual growth rate (CAGR) of 33.9% from 2024 to 2031.
• The lithium-ion category is the fastest growing segment of the Grid Scale Battery Storage industry