- In February 2024, Chhattisgarh inaugurated one of India's largest solar power plants in the Rajnandgaon district, featuring an integrated battery energy storage system. The 100 MW capacity solar facility, developed by the Solar Corporation of India (SECI) and Chhattisgarh Power Distribution Company, ensures continuous electricity supply, including during the night, and generates over 500,000 units daily
- In February 2024, GFCL EV Products Ltd. (GFCL EV), a subsidiary of Gujarat Fluorochemicals Ltd. (GFL), announced plans to invest INR 6000 crore (USD 720 million) to provide 200 GWh of EV and battery energy storage systems (BESS) globally within the next 4-5 years. By December 2023, GFL had already committed INR 650 crore (USD 78 million) of the total investment, with GFCL EV preparing to enter the EV and ESS markets in the U.S., Europe, and India
- In December 2023, Namibia Power Corporation (NamPower) signed key EPC contracts with Shandong Electrical, Engineering, and Equipment Group (SDEE) and Narada Power for a large-scale grid battery energy storage project. The joint venture aims to deliver a 54 MW/54 MWh battery energy storage system (BESS) to Namibia’s Omburu substation in the Erongo region
- In February 2022, LG Energy Solution completed its acquisition of NEC Energy Solutions, a U.S.-based grid-battery integrator. This acquisition enables LG Energy Solution to combine energy storage system integration with its battery manufacturing capabilities, strengthening its position in the global energy storage market
- In December 2021, TotalEnergies finalized the construction of a 61 MW battery-based energy storage facility in Dunkirk, France. The facility, which offers a total storage capacity of 61 MWh, is part of the long-term plan launched by the French Electricity Transmission Network (RTE) in 2020, marking a significant milestone in TotalEnergies' expansion of its battery energy storage infrastructure
Frequently Asked Questions
The market is segmented based on Segmentation, By Element (Battery and Hardware), Battery Type (Lithium-Ion, Advanced Lead Acid, Flow Batteries, and Sodium Sulfur), Connection Type (On-Grid and Off-Grid), Ownership (Customer Owned, Third-Party Owned, and Utility Owned), Energy Capacity (Below 100 MWh, Between 100 and 500 MWh, and Above 500 MWh), Application (Residential, Non-Residential, Utilities, and Other) – Industry Trends and Forecast to 2032
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The Global Battery Energy Storage System Market size was valued at USD 12.62 USD Billion in 2024.
The Global Battery Energy Storage System Market is projected to grow at a CAGR of 30% during the forecast period of 2025 to 2032.
The major players operating in the market include LG Chem, ABB, The AES Corporation, and others .
The market report covers data from the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
