According to The Insight Partners' research, the Asia Pacific battery energy storage system market was valued at US$ 10,057.03 million in 2024 and is expected to reach US$ 77,016.66 million by 2031, registering a CAGR of 27.4% from 2025 to 2031. Growing focus on establishing vigorous storage infrastructure and mounting demand for energy are among the critical factors attributed to drive the Asia Pacific battery energy storage system market.
With renewable energy sources, such as wind and solar, becoming more common, the requirement for reliable energy storage to manage intermittency and ensure grid stability is strengthening. Governments and the private sector are investing considerably in robust storage systems, supporting energy transition goals, reducing carbon emissions, and improving energy security. Advanced battery technologies, such as solid-state batteries and lithium-ion, are gaining traction due to their efficiency and scalability.
The changing energy circumstances across the globe are generating a demand for energy storage infrastructure. The growing energy demand displays the significance of energy storage systems. The storage system allows energy storage and its usage as per the requirement. Battery energy storage is also important owing to the required balance of energy supply. Developments in energy storage systems and an increase in research and development in energy management systems are driving the battery energy storage system market. Thus, growing focus on establishing vigorous storage infrastructure across the globe is boosting the growth of the battery energy storage system market.
China is leading the battery energy storage system market in Asia Pacific. The country has completed the installation of renewable power generation infrastructure (Xi Jinping) which was scheduled to be completed by 2030. Further, with this achievement, China has moved six years ahead of its scheduled targets of renewable power installations. Moreover, as of 2023, China had ~86 GW of energy storage, wherein 59.3% accounted for pumped storage and 40.6% for battery energy storage capacities. Further, such installations of power generation and storage technologies are boosting the growth of battery energy storage system market across Asia Pacific. Thus, growing focus on establishing vigorous storage infrastructure across the globe is boosting the growth of the battery energy storage system market.
On the contrary, scarcity of raw materials hampers the growth of Asia Pacific battery energy storage system market.
Based on type, the Asia Pacific battery energy storage system market is bifurcated into lithium ion and others. The lithium ion segment held 92.8% share of Asia Pacific battery energy storage system market in 2024, amassing US$ 9,335.25 million. It is projected to garner US$ 71,458.29 million by 2031 to register 27.4% CAGR during 2025-2031.
By connection type, the Asia Pacific battery energy storage system market is segmented into on-grid and off-grid. The on-grid segment held 77.7% share of Asia Pacific battery energy storage system market in 2024, amassing US$ 7,815.76 million. It is projected to garner US$ 59,520.32 million by 2031 to expand at 27.3% CAGR from 2025 to 2031.
Based on end user, the Asia Pacific battery energy storage system market is segmented into commercial, utilities, and residential. The utilities segment held 77.9% market share in 2024, amassing US$ 7,835.66 million. It is projected to garner US$ 59,784.45 million by 2031 to register 27.4% CAGR during 2025-2031.
Based on country, the Asia Pacific battery energy storage system market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 61.0% share of Asia Pacific battery energy storage system market in 2024. It was assessed at US$ 6,134.79 million in 2024 and is likely to hit US$ 39,586.56 million by 2031, registering a CAGR of 24.4% during 2025 to 2031.
Key players operating in the battery energy storage system market are Panasonic Holdings Corp, BYD Co Ltd, Contemporary Amperex Technology Co Ltd, Tesla Inc, Samsung SDI Co Ltd, AES Corp, Ameresco Inc, NextEra Energy Inc, ESS Inc, Saft Groupe SA, LG Chem Ltd, General Electric Co, KORE Power Inc, Eos Energy Enterprises Inc, and Siemens AG, among others.
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