According to The Insight Partners' research, the North America battery energy storage system market was valued at US$ 20,057.56 million in 2024 and is expected to reach US$ 23,475.02 million by 2031, registering a CAGR of 2.8% from 2025 to 2031. Role of battery energy storage system in energy transition and growing investment in renewable power generation are among the critical factors attributed to drives the North America battery energy storage system market.
Battery energy storage (BES) technology is one of the alternatives that is expected to aid the integration of renewable energy in sectors such as power generation, utility-scale, commercial, and residential. BES decreases the requirement for expensive grid reinforcements for PV. It also aids in meeting the periodic demand for power and supports the shift to a primarily renewable-driven energy system. Battery energy storage technology also eases the process of load shifting, resulting in better deployment of renewables and improved grid congestion. By assisting the transition to renewables and boosting electrification, BES technologies can aid in meeting long-term climate and sustainability goals. The rising deployment of renewable generation technologies is driving the battery energy storage system market. The proliferation of battery energy storage systems is also helping in the energy transition from carbon-intensive to clean energy. As the demand for renewable energy is rising, grid systems are becoming more dependent on battery energy storage systems. The growing penetration of sustainable and clean energy sources has proposed challenges in grid management owing to their intermittent nature globally. Battery energy storage systems efficiently store surplus renewable energy when production is above demand, confirming a consistent and steady electricity supply.
On the contrary, scarcity of raw materials hampers the growth of North America battery energy storage system market.
Based on type, the North America battery energy storage system market is bifurcated into lithium ion and others. The lithium-ion segment held 94.3% share of North America battery energy storage system market in 2024, amassing US$ 18,923.66 million. It is projected to garner US$ 21,931.49 million by 2031 to register 2.7% CAGR during 2025-2031.
By connection type, the North America battery energy storage system market is bifurcated into on-grid and off-grid. The on-grid segment held 83.7% share of North America battery energy storage system market in 2024, amassing US$ 16,797.01 million. It is projected to garner US$ 19,428.90 million by 2031 to expand at 2.7% CAGR from 2025 to 2031.
Based on end user, the North America battery energy storage system market is segmented into commercial, utilities, and residential. The utilities segment held 83.7% market share in 2024, amassing US$ 16,794.00 million. It is projected to garner US$ 19,417.17 million by 2031 to register 2.6% CAGR during 2025-2031
Based on country, the North America battery energy storage system market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 93.4% share of North America battery energy storage system market in 2024. It was assessed at US$ 18,725.01 million in 2024 and is likely to hit US$ 21,214.54 million by 2031, registering a CAGR of 2.60% 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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