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North America Advanced Battery Energy Storage Systems Market By Type (Lithium-Ion Battery Energy Storage Systems, Lead-Acid Battery Energy Storage Systems, Sodium Sulfur Battery Energy Storage Systems, Nickel Cadmium Battery Energy Storage Systems, Other Battery Energy Storage Systems); By Application (Transportation, Utility, Residential, Others); By Storage Type (Batteries, Flywheels, Compressed Air Storage, Pumped Hydro-Power, Others); By Technology (Mechanical, Thermal, Electro Chemical, Others) – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

Summary
Table Of Content

REPORT ATTRIBUTE	DETAILS
Historical Period	2019-2022
Base Year	2023
Forecast Period	2024-2032
North America Advanced Battery Energy Storage Systems Market Size 2023	USD 2,546.31 million
North America Advanced Battery Energy Storage Systems Market, CAGR	9.67%
North America Advanced Battery Energy Storage Systems Market Size 2032	USD 5,884.87 million

Market Overview

The North America Advanced Battery Energy Storage Systems Market is projected to grow from USD 2,546.31 million in 2023 to an estimated USD 5,884.87 million by 2032, with a compound annual growth rate (CAGR) of 9.67% from 2024 to 2032. This significant growth is driven by increasing investments in renewable energy sources and the need for reliable energy storage solutions.

Market drivers include government incentives and policies supporting clean energy, advancements in battery technology, and growing awareness of energy efficiency and sustainability. Trends in the market indicate a shift towards lithium-ion batteries due to their high energy density and long cycle life. Additionally, the integration of artificial intelligence and IoT in energy storage systems is enhancing performance and operational efficiency, making these systems more attractive to end-users.

Geographically, the United States dominates the North American market, driven by substantial investments in renewable energy projects and a strong focus on reducing carbon emissions. Canada also shows significant potential, with growing renewable energy initiatives and supportive government policies. Key players in the market include Tesla, Inc., LG Chem Ltd., and Panasonic Corporation, who are at the forefront of innovation and development in battery energy storage solutions. These companies are investing in research and development to enhance battery efficiency and expand their market presence.

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Market Drivers

Growing Demand for Renewable Energy Integration

The North America region is witnessing a significant shift towards renewable energy sources, such as wind and solar power, to address environmental concerns and reduce dependency on fossil fuels. For instance, the North American Renewable Integration Study (NARIS) informs that in the United States, between 1,200 and 2,000 gigawatts of renewable energy can be deployed to produce 70%–80% of U.S. electricity by 2050 while meeting planning reserve requirements. This transition is creating a growing need for advanced battery energy storage systems (BESS) that can store energy generated from these intermittent sources and release it when needed. The variability and unpredictability of renewable energy generation necessitate robust storage solutions to ensure a stable and reliable energy supply. Governments and utility companies are increasingly investing in grid-scale BESS installations to enhance grid stability, manage peak load demands, and support the integration of renewable energy into the power grid. This trend is expected to continue as renewable energy targets become more ambitious, driving the growth of the BESS market in the region.

Advancements in Battery Technology

Technological advancements in battery chemistry and design are pivotal drivers of the North America Advanced Battery Energy Storage Systems Market. The development of high-capacity, high-efficiency batteries, such as lithium-ion batteries, has revolutionized the energy storage landscape. These batteries offer superior energy density, longer life cycles, and faster charging capabilities compared to traditional lead-acid batteries. For example, the National Blueprint for Lithium Batteries 2021-2030 by the U.S. Department of Energy outlines a national blueprint to guide investments in the urgent development of a domestic lithium-battery manufacturing value chain. The ongoing research and development efforts are focused on further enhancing battery performance, reducing costs, and improving safety features. Innovations in solid-state batteries, flow batteries, and other emerging technologies are also contributing to the diversification of energy storage solutions available in the market. These advancements not only make BESS more cost-effective and accessible but also expand their application range, from small-scale residential systems to large-scale utility projects.

Rising Adoption of Electric Vehicles (EVs)

The growing adoption of electric vehicles (EVs) is another critical driver of the advanced battery energy storage systems market in North America. As EV penetration increases, so does the demand for efficient and reliable energy storage solutions, both for vehicle use and for supporting the charging infrastructure. For instance, the electric vehicle (EV) market in the United States broke records in 2022, estimated at just under 918,500 light electric vehicle sales. Battery energy storage systems play a vital role in managing the power load on the grid, especially with the expected surge in EV charging stations. Moreover, the development of vehicle-to-grid (V2G) technology, which allows EVs to discharge stored energy back into the grid, is further enhancing the utility of BESS in balancing supply and demand. This symbiotic relationship between EVs and energy storage systems is expected to drive significant growth in the market, as automakers and energy companies collaborate to develop integrated solutions that support sustainable transportation and energy systems.

Government Policies and Incentives

Government policies and incentives are crucial in shaping the growth trajectory of the North America Advanced Battery Energy Storage Systems Market. Federal and state governments are implementing a range of measures to promote the adoption of renewable energy and energy storage technologies. These include tax credits, grants, subsidies, and regulatory support for grid modernization projects. For instance, the U.S. government’s Investment Tax Credit (ITC) has been instrumental in encouraging investments in solar energy and related storage systems. Additionally, states like California and New York have set ambitious targets for energy storage capacity, mandating utilities to integrate substantial storage solutions to enhance grid reliability and resilience. These policy frameworks not only reduce the financial burden on project developers and consumers but also create a favorable market environment for the growth of advanced battery energy storage systems. The alignment of policy objectives with technological advancements and market needs is expected to accelerate the deployment of BESS across the region, supporting the broader goals of energy transition and climate change mitigation.

Market Trends

Shift Towards Lithium-Ion Batteries

One of the most prominent trends in the North America Advanced Battery Energy Storage Systems Market is the increasing preference for lithium-ion batteries. This shift is primarily driven by their superior energy density, longer lifespan, and declining costs. Lithium-ion batteries have become the technology of choice for a wide range of applications, from small-scale residential energy storage systems to large-scale grid storage projects. The technological advancements in lithium-ion battery chemistry, including improvements in safety features, faster charging capabilities, and enhanced energy storage capacity, are making these systems more efficient and reliable. For instance, the National Blueprint for Lithium Batteries 2021-2030 by the U.S. Department of Energy outlines a national blueprint to guide investments in the urgent development of a domestic lithium-battery manufacturing value chain. Additionally, economies of scale and advancements in manufacturing processes are driving down the costs, making lithium-ion batteries more accessible and attractive for both consumers and commercial entities. This trend is expected to continue as further innovations and investments are directed towards improving battery performance and reducing environmental impacts.

Growing Integration of Smart Grid Technologies

Another significant trend in the market is the growing integration of smart grid technologies with advanced battery energy storage systems. As the demand for reliable and resilient power systems increases, there is a greater focus on developing smart grids that can efficiently manage energy resources and distribution. Battery energy storage systems are becoming an integral part of these smart grids, providing essential services such as frequency regulation, load balancing, and peak shaving. The integration of advanced data analytics, artificial intelligence, and Internet of Things (IoT) technologies is enhancing the functionality and responsiveness of energy storage systems. These technologies enable real-time monitoring and control of energy flows, optimizing the use of stored energy and ensuring grid stability. This trend is particularly important as renewable energy sources, such as wind and solar, are more widely adopted, necessitating sophisticated management systems to handle their intermittent nature. The synergy between battery storage and smart grid technologies is expected to drive significant improvements in energy efficiency and grid reliability, supporting the broader goals of sustainable energy infrastructure development.

Market Restraints and Challenges

High Initial Costs and Economic Viability

One of the primary restraints in the North America Advanced Battery Energy Storage Systems Market is the high initial costs associated with the installation and deployment of these systems. Despite the declining costs of battery technology, the upfront investment required for large-scale energy storage projects remains substantial. This cost barrier can be a significant deterrent for utilities, businesses, and residential consumers considering the adoption of battery energy storage systems. The economic viability of these systems often depends on factors such as government incentives, regulatory support, and the market prices of competing energy storage solutions. Without sufficient financial incentives or favorable regulatory frameworks, the return on investment for advanced battery energy storage systems can be less attractive, limiting their widespread adoption. Additionally, the costs associated with maintenance, system integration, and the need for specialized technical expertise further compound the economic challenges faced by potential adopters.

Technical and Infrastructure Challenges

Technical challenges also pose significant restraints in the development and deployment of advanced battery energy storage systems in North America. One of the key issues is the complexity of integrating these systems with existing energy infrastructure, including the electric grid and renewable energy installations. Ensuring compatibility and seamless operation with the grid requires sophisticated management systems and advanced control technologies. Moreover, there are concerns related to the safety and durability of battery systems, particularly in extreme weather conditions or under high usage rates. The risk of thermal runaway, which can lead to fires or explosions, necessitates stringent safety standards and monitoring systems, increasing the complexity and cost of deployment. Furthermore, the lack of standardized regulations and protocols across different jurisdictions can create additional hurdles for companies seeking to implement these systems. Addressing these technical and infrastructural challenges is crucial for enhancing the reliability, safety, and efficiency of advanced battery energy storage systems, and for fostering broader market acceptance and growth.

Market Segmentation Analysis

By Type

Lithium-ion battery energy storage systems dominate the North American market due to their high energy density, long lifespan, and decreasing costs, making them ideal for both residential and utility-scale applications amid growing renewable energy demand. Lead-acid batteries, although older and less efficient, remain popular for backup power systems due to their lower cost and reliability. Sodium sulfur batteries, known for their high energy capacity and efficiency, are used in large-scale projects where space and weight are less critical. Nickel cadmium batteries serve niche applications, particularly in extreme temperatures, though their use is limited by environmental concerns. The category of “Others” includes emerging technologies like flow batteries, which offer scalability and durability for large-scale applications.

By Application

The North American market for advanced battery energy storage systems is driven by several key segments. In Transportation, the growing adoption of electric vehicles (EVs) is increasing demand for high-performance batteries that provide longer ranges and faster charging. In the Utility sector, large-scale energy storage systems are essential for grid stabilization, peak load management, and renewable energy integration. Residential energy storage is also expanding as homeowners seek greater energy independence and resilience, often in conjunction with solar panels to store excess energy for peak times or outages. Additionally, the Others segment covers commercial and industrial applications, where energy storage systems help optimize energy use, cut costs, and ensure reliability.

Segments

Based on Type

Lithium-Ion Battery Energy Storage Systems
Lead-Acid Battery Energy Storage Systems
Sodium Sulfur Battery Energy Storage Systems
Nickel Cadmium Battery Energy Storage Systems
Other Battery Energy Storage Systems

Based on Application

Transportation (Electric Vehicles)
Utility
Residential
Others

Based on Storage Type

Batteries
Flywheels
Compressed Air Storage
Pumped Hydro-Power
Others

Based on Technology

Mechanical
Thermal
Electro Chemical
Others

Based on Region

United States
Canada

Regional Analysis

United States (85%):

The North American Advanced Battery Energy Storage Systems Market is predominantly led by the United States, which holds a substantial market share of approximately 85%. This dominance is attributed to the country’s extensive investments in renewable energy, robust infrastructure, and significant technological advancements in energy storage systems. The U.S. benefits from a favorable regulatory environment, including incentives such as the Investment Tax Credit (ITC) and the Inflation Reduction Act, which support the growth and adoption of advanced battery technologies. Major U.S. states like California, Texas, and New York are leading the way with large-scale energy storage projects, enhancing grid reliability and supporting renewable energy integration.

Canada (15%):

Canada, representing around 15% of the market share, also plays a crucial role in the North American energy storage landscape. The Canadian market is characterized by a strong focus on integrating energy storage with renewable energy projects, particularly in remote and off-grid communities. Provincial initiatives and federal programs, such as the Clean Energy Innovation Program, provide significant support for energy storage projects. Key provinces like Ontario and Alberta are investing in advanced battery systems to improve grid stability and energy security, contributing to the overall market growth.

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Key players

ABB
AES Energy Storage
Exide Technologies
SAFT
Beckett Energy Systems
General Electric
LG Chem
Toshiba
Siemens
BYD Company

Competitive Analysis

The North American Advanced Battery Energy Storage Systems Market features several prominent players, each contributing unique strengths. ABB and Siemens are leaders in integrating advanced energy storage systems with grid infrastructure, leveraging their extensive industrial expertise. LG Chem and BYD Company stand out for their innovations in lithium-ion battery technology, offering high performance and scalability. General Electric and Toshiba bring robust engineering capabilities and a broad portfolio of energy solutions, enhancing market competitiveness. AES Energy Storage and Exide Technologies focus on specialized storage solutions, with AES emphasizing large-scale installations and Exide providing reliable lead-acid batteries. SAFT and Beckett Energy Systems offer niche solutions, with SAFT known for its high-energy-density batteries and Beckett for its tailored energy storage solutions. These players collectively drive technological advancements and market growth, each excelling in different aspects of energy storage.

Recent Developments

In December 2022, The Australian government announced plans to construct eight large-scale batteries across the country to enhance grid stability and manage energy costs. The Australian Renewable Energy Agency (ARENA) will fund nearly USD 120 million for these projects. The batteries, ranging from 200-300 MWh each, will be installed in Gnarwarre, Moorabool, and Mortlake in Victoria; Mount Fox and Western Downs in Queensland; Liddell in New South Wales; and Bungama and Blyth in South Australia. Featuring grid-forming inverter technology, these installations are expected to be operational by 2025.

In February 2023, Power & Air Solutions, a subsidiary of Deutsche Telekom, completed its first battery energy storage system (BESS) installation with equipment supplied by Pixii. This system, located at Deutsche Telekom’s main office in Munich, Germany, includes a 1 MW conversion capacity and 6 MWh of storage. The installation marks a significant step in enhancing Deutsche Telekom’s energy resilience and sustainability efforts, providing robust support for its operational energy needs.

In January 2024, Grenergy announced a partnership with BYD to provide 1.1 GWh of energy storage systems (ESS). The agreement involves supplying 2,136 units of BYD’s MC Cube ESS model, which utilizes Blade batteries renowned for their safety and durability. This collaboration aims to advance large-scale energy storage solutions, enhancing grid stability and supporting renewable energy integration through high-performance battery technology.

In January 2023, The Sara Kulturhus cultural center in Sweden is now powered by an advanced battery energy storage system (BESS) developed by ABB in collaboration with Skellefteå Kraft. Designed to meet the venue’s unique energy needs, the BESS includes a transformer, six Northvolt-supplied battery packs, ABB’s AC and DC switchgear, and inverters by EPC Power. This innovative system ensures reliable, eco-friendly power for the building, showcasing a commitment to sustainability and advanced energy solutions.

In May 2022, Toshiba Corporation launched the 125VDC SCiB Energy Storage System (ESS), featuring Lithium Titanium Oxide (LTO) battery technology known for its reliability. The system’s flexible, expandable cabinet design supports various capacities, including 5kWh, 10kWh, 15kWh, and 20kWh. This versatility makes the SCiB ESS suitable for integration with Uninterruptible Power Systems (UPS) and DC Load applications, offering a robust solution for diverse energy storage needs.

Market Concentration and Characteristics

The North American Advanced Battery Energy Storage Systems Market exhibits a moderately concentrated structure characterized by the presence of a few dominant players alongside numerous emerging and niche participants. Major companies such as ABB, Siemens, LG Chem, and BYD Company hold significant market shares due to their advanced technology, extensive product portfolios, and established distribution networks. These key players drive innovation and set competitive benchmarks, influencing market dynamics. However, the market also features a diverse array of smaller firms specializing in specific technologies or regional markets, contributing to a dynamic and competitive landscape. This blend of large-scale and specialized companies fosters a competitive environment that promotes technological advancements and enhances market growth potential.

Report Coverage

The research report offers an in-depth analysis based on Type, Application, Storage Type, Technology and Region. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.

Future Outlook

Lithium-ion batteries will continue to dominate due to their superior energy density and decreasing costs, driving widespread deployment across residential, commercial, and utility-scale applications.

Utility-scale energy storage projects will expand significantly to enhance grid reliability and support renewable energy integration, addressing growing demands for stable and resilient power systems.

Ongoing innovations in battery technologies, including solid-state and flow batteries, will enhance performance, safety, and lifespan, contributing to more efficient and scalable energy storage solutions.

Supportive government policies and incentives, such as tax credits and subsidies, will further stimulate market growth, making advanced energy storage systems more accessible and economically viable.

Advanced battery systems will increasingly integrate with smart grid technologies, enabling real-time energy management, load balancing, and improved grid stability, enhancing overall energy efficiency.

The expanding electric vehicle market will drive demand for high-capacity batteries, leading to advancements in battery technology and increased production capacity to meet growing needs.

There will be a heightened emphasis on sustainable and eco-friendly battery technologies, driven by environmental concerns and regulatory pressures, promoting the development of greener energy storage solutions.

Significant investments in research and development will foster breakthroughs in battery chemistry and system integration, leading to more efficient and cost-effective energy storage technologies.

New entrants and startups will emerge, offering innovative solutions and driving competition, which will enhance technological advancements and market diversity.

Growth will vary regionally, with certain areas experiencing faster adoption due to local policies, market conditions, and infrastructure development, shaping the overall market landscape.

CHAPTER NO. 1 : INTRODUCTION 17

1.1.1. Report Description 17

Purpose of the Report 17

USP & Key Offerings 17

1.1.2. Key Benefits for Stakeholders 17

1.1.3. Target Audience 18

1.1.4. Report Scope 18

CHAPTER NO. 2 : EXECUTIVE SUMMARY 19

2.1. North America Advanced Battery Energy Storage Systems Market Snapshot 19

2.1.1. North America Advanced Battery Energy Storage Systems Market, 2018 – 2032 (Units) (USD Million) 21

2.2. Insights from Primary Respondents 22

CHAPTER NO. 3 : NORTH AMERICA ADVANCED BATTERY ENERGY STORAGE SYSTEMS MARKET – INDUSTRY ANALYSIS 23

3.1. Introduction 23

3.2. Market Drivers 24

3.2.1. Driving Factor 1 Analysis 24

3.2.2. Driving Factor 2 Analysis 25

3.3. Market Restraints 26

3.3.1. Restraining Factor Analysis 26

3.4. Market Opportunities 27

3.4.1. Market Opportunity Analysis 27

3.5. Porter’s Five Forces Analysis 28

CHAPTER NO. 4 : ANALYSIS COMPETITIVE LANDSCAPE 29

4.1. Company Market Share Analysis – 2023 29

4.1.1. North America Advanced Battery Energy Storage Systems Market: Company Market Share, by Volume, 2023 29

4.1.2. North America Advanced Battery Energy Storage Systems Market: Company Market Share, by Revenue, 2023 30

4.1.3. North America Advanced Battery Energy Storage Systems Market: Top 6 Company Market Share, by Revenue, 2023 30

4.1.4. North America Advanced Battery Energy Storage Systems Market: Top 3 Company Market Share, by Revenue, 2023 31

4.2. North America Advanced Battery Energy Storage Systems Market Company Volume Market Share, 2023 32

4.3. North America Advanced Battery Energy Storage Systems Market Company Revenue Market Share, 2023 33

4.4. Company Assessment Metrics, 2023 34

4.4.1. Stars 34

4.4.2. Emerging Leaders 34

4.4.3. Pervasive Players 34

4.4.4. Participants 34

4.5. Start-ups /SMEs Assessment Metrics, 2023 34

4.5.1. Progressive Companies 34

4.5.2. Responsive Companies 34

4.5.3. Dynamic Companies 34

4.5.4. Starting Blocks 34

4.6. Strategic Developments 35

4.6.1. Acquisitions & Mergers 35

New Product Launch 35

Regional Expansion 35

4.7. Key Players Product Matrix 37

CHAPTER NO. 5 : PESTEL & ADJACENT MARKET ANALYSIS 38

5.1. PESTEL 38

5.1.1. Political Factors 38

5.1.2. Economic Factors 38

5.1.3. Social Factors 38

5.1.4. Technological Factors 38

5.1.5. Environmental Factors 38

5.1.6. Legal Factors 38

5.2. Adjacent Market Analysis 38

CHAPTER NO. 6 : NORTH AMERICA ADVANCED BATTERY ENERGY STORAGE SYSTEMS MARKET – BY TYPE SEGMENT ANALYSIS 39

6.1. North America Advanced Battery Energy Storage Systems Market Overview, by Type Segment 39

6.1.1. North America Advanced Battery Energy Storage Systems Market Volume Share, By Type, 2023 & 2032 40

6.1.2. North America Advanced Battery Energy Storage Systems Market Revenue Share, By Type, 2023 & 2032 40

6.1.3. North America Advanced Battery Energy Storage Systems Market Attractiveness Analysis, By Type 41

6.1.4. Incremental Revenue Growth Opportunity, by Type, 2024 – 2032 41

6.1.5. North America Advanced Battery Energy Storage Systems Market Revenue, By Type, 2018, 2023, 2027 & 2032 42

6.2. Lithium-Ion Battery Energy Storage Systems 43

6.3. Lead-acid Battery Energy Storage Systems 44

6.4. Sodium Sulfur Battery Energy Storage Systems 45

6.5. Nickel Cadmium Battery Energy Storage Systems 46

6.6. Others Battery Energy Storage Systems 47

CHAPTER NO. 7 : NORTH AMERICA ADVANCED BATTERY ENERGY STORAGE SYSTEMS MARKET – BY APPLICATION SEGMENT ANALYSIS 48

7.1. North America Advanced Battery Energy Storage Systems Market Overview, by Application Segment 48

7.1.1. North America Advanced Battery Energy Storage Systems Market Volume Share, By Application, 2023 & 2032 49

7.1.2. North America Advanced Battery Energy Storage Systems Market Revenue Share, By Application, 2023 & 2032 49

7.1.3. North America Advanced Battery Energy Storage Systems Market Attractiveness Analysis, By Application 50

7.1.4. Incremental Revenue Growth Opportunity, by Application, 2024 – 2032 50

7.1.5. North America Advanced Battery Energy Storage Systems Market Revenue, By Application, 2018, 2023, 2027 & 2032 51

7.2. Transportation (Electric Vehicles) 52

7.3. Utility 53

7.4. Residential 54

7.5. Others 55

CHAPTER NO. 8 : NORTH AMERICA ADVANCED BATTERY ENERGY STORAGE SYSTEMS MARKET – BY STORAGE TYPE SEGMENT ANALYSIS 56

8.1. North America Advanced Battery Energy Storage Systems Market Overview, by Storage Type Segment 56

8.1.1. North America Advanced Battery Energy Storage Systems Market Volume Share, By Storage Type, 2023 & 2032 57

8.1.2. North America Advanced Battery Energy Storage Systems Market Revenue Share, By Storage Type, 2023 & 2032 57

8.1.3. North America Advanced Battery Energy Storage Systems Market Attractiveness Analysis, By Storage Type 58

8.1.4. Incremental Revenue Growth Opportunity, by Storage Type, 2024 – 2032 58

8.1.5. North America Advanced Battery Energy Storage Systems Market Revenue, By Storage Type , 2018, 2023, 2027 & 2032 59

8.2. Batteries 60

8.3. Flywheels 61

8.4. Compressed Air Storage 62

8.5. Pumped Hydro-Power 63

8.6. Others 64

CHAPTER NO. 9 : NORTH AMERICA ADVANCED BATTERY ENERGY STORAGE SYSTEMS MARKET – BY TECHNOLOGY SEGMENT ANALYSIS 65

9.1. North America Advanced Battery Energy Storage Systems Market Overview, by Technology Segment 65

9.1.1. North America Advanced Battery Energy Storage Systems Market Volume Share, By Technology, 2023 & 2032 66

9.1.2. North America Advanced Battery Energy Storage Systems Market Revenue Share, By Technology, 2023 & 2032 66

9.1.3. North America Advanced Battery Energy Storage Systems Market Attractiveness Analysis, By Technology 67

9.1.4. Incremental Revenue Growth Opportunity, by Technology, 2024 – 2032 67

9.1.5. North America Advanced Battery Energy Storage Systems Market Revenue, By Technology, 2018, 2023, 2027 & 2032 68

9.2. Mechanical 69

9.3. Thermal 70

9.4. Electro Chemical 71

9.5. Others 72

CHAPTER NO. 10 : NORTH AMERICA ADVANCED BATTERY ENERGY STORAGE SYSTEMS MARKET – NORTH AMERICA 73

10.1. North America 73

10.1.1. Key Highlights 73

10.1.2. North America Advanced Battery Energy Storage Systems Market Volume, By Country, 2018 – 2032 (Units) 74

10.1.3. North America Advanced Battery Energy Storage Systems Market Revenue, By Country, 2018 – 2023 (USD Million) 75

10.1.4. North America Advanced Battery Energy Storage Systems Market Volume, By Type, 2018 – 2023 (Units) 76

10.1.5. North America Advanced Battery Energy Storage Systems Market Revenue, By Type, 2018 – 2023 (USD Million) 78

10.1.6. North America Advanced Battery Energy Storage Systems Market Volume, By Application, 2018 – 2023 (Units) 80

10.1.7. North America Advanced Battery Energy Storage Systems Market Revenue, By Application, 2018 – 2023 (USD Million) 81

10.1.8. North America Advanced Battery Energy Storage Systems Market Volume, By Storage Type , 2018 – 2023 (Units) 82

10.1.9. North America Advanced Battery Energy Storage Systems Market Revenue, By Storage Type , 2018 – 2023 (USD Million) 83

10.1.10. North America Advanced Battery Energy Storage Systems Market Volume, By Technology, 2018 – 2023 (Units) 84

10.1.11. North America Advanced Battery Energy Storage Systems Market Revenue, By Technology, 2018 – 2023 (USD Million) 85

10.2. U.S. 86

10.3. Canada 86

10.4. Mexico 86

CHAPTER NO. 11 : COMPANY PROFILES 87

11.1. ABB 87

11.1.1. Company Overview 87

11.1.2. Product Portfolio 87

11.1.3. Swot Analysis 87

11.1.4. Business Strategy 87

11.1.5. Financial Overview 88

11.2. AES Energy Storage 89

11.3. Exide Technologies 89

11.4. SAFT 89

11.5. Beckett Energy Systems 89

11.6. General Electric 89

11.7. LG Chem 89

11.8. Toshiba 89

11.9. Siemens 89

11.10. BYD Company 89

11.11. ABB 89

11.12. Altairnano 89

11.13. NEC Corporation 89

11.14. Hitachi 89

11.15. NGK Insulators 89

11.16. AEG Power Solutions 89

11.17. Enersys 89

11.18. China BAK Batteries 89

11.19. Nippon Chemi-Con Corporation 89

11.20. Furukawa Battery 89

11.21. Zest Energy 89

CHAPTER NO. 12 : RESEARCH METHODOLOGY 90

12.1. Research Methodology 90

12.1.1. Phase I – Secondary Research 91

12.1.2. Phase II – Data Modeling 91

Company Share Analysis Model 92

Revenue Based Modeling 92

12.1.3. Phase III – Primary Research 93

12.1.4. Research Limitations 94

Assumptions 94

List of Figures

FIG NO. 1. North America Advanced Battery Energy Storage Systems Market Volume & Revenue, 2018 – 2032 (Units) (USD Million) 29

FIG NO. 2. Porter’s Five Forces Analysis for North America Advanced Battery Energy Storage Systems Market 36

FIG NO. 3. Company Share Analysis, 2023 37

FIG NO. 4. Company Share Analysis, 2023 38

FIG NO. 5. Company Share Analysis, 2023 38

FIG NO. 6. Company Share Analysis, 2023 39

FIG NO. 7. North America Advanced Battery Energy Storage Systems Market – Company Volume Market Share, 2023 40

FIG NO. 8. North America Advanced Battery Energy Storage Systems Market – Company Revenue Market Share, 2023 41

FIG NO. 9. North America Advanced Battery Energy Storage Systems Market Volume Share, By Type, 2023 & 2032 48

FIG NO. 10. North America Advanced Battery Energy Storage Systems Market Revenue Share, By Type, 2023 & 2032 48

FIG NO. 11. Market Attractiveness Analysis, By Type 49

FIG NO. 12. Incremental Revenue Growth Opportunity by Type, 2024 – 2032 49

FIG NO. 13. North America Advanced Battery Energy Storage Systems Market Revenue, By Type, 2018, 2023, 2027 & 2032 50

FIG NO. 14. North America Advanced Battery Energy Storage Systems Market for Lithium Ion Battery Energy Storage Systems, Volume & Revenue (Units) (USD Million) 2018 – 2032 51

FIG NO. 15. North America Advanced Battery Energy Storage Systems Market for Lead-acid Battery Energy Storage Systems, Volume & Revenue (Units) (USD Million) 2018 – 2032 52

FIG NO. 16. North America Advanced Battery Energy Storage Systems Market for Sodium Sulfur Battery Energy Storage Systems, Volume & Revenue (Units) (USD Million) 2018 – 2032 53

FIG NO. 17. North America Advanced Battery Energy Storage Systems Market for Nickel Cadmium Battery Energy Storage Systems, Volume & Revenue (Units) (USD Million) 2018 – 2032 54

FIG NO. 18. North America Advanced Battery Energy Storage Systems Market for Others Battery Energy Storage Systems, Volume & Revenue (Units) (USD Million) 2018 – 2032 55

FIG NO. 19. North America Advanced Battery Energy Storage Systems Market Volume Share, By Application, 2023 & 2032 57

FIG NO. 20. North America Advanced Battery Energy Storage Systems Market Revenue Share, By Application, 2023 & 2032 57

FIG NO. 21. Market Attractiveness Analysis, By Application 58

FIG NO. 22. Incremental Revenue Growth Opportunity by Application, 2024 – 2032 58

FIG NO. 23. North America Advanced Battery Energy Storage Systems Market Revenue, By Application, 2018, 2023, 2027 & 2032 59

FIG NO. 24. North America Advanced Battery Energy Storage Systems Market for Transportation (Electric Vehicles), Volume & Revenue (Units) (USD Million) 2018 – 2032 60

FIG NO. 25. North America Advanced Battery Energy Storage Systems Market for Utility, Volume & Revenue (Units) (USD Million) 2018 – 2032 61

FIG NO. 26. North America Advanced Battery Energy Storage Systems Market for Residential, Volume & Revenue (Units) (USD Million) 2018 – 2032 62

FIG NO. 27. North America Advanced Battery Energy Storage Systems Market for Others, Volume & Revenue (Units) (USD Million) 2018 – 2032 63

FIG NO. 28. North America Advanced Battery Energy Storage Systems Market Volume Share, By Storage Type, 2023 & 2032 65

FIG NO. 29. North America Advanced Battery Energy Storage Systems Market Revenue Share, By Storage Type, 2023 & 2032 65

FIG NO. 30. Market Attractiveness Analysis, By Storage Type 66

FIG NO. 31. Incremental Revenue Growth Opportunity by Storage Type, 2024 – 2032 66

FIG NO. 32. North America Advanced Battery Energy Storage Systems Market Revenue, By Storage Type , 2018, 2023, 2027 & 2032 67

FIG NO. 33. North America Advanced Battery Energy Storage Systems Market for Batteries, Volume & Revenue (Units) (USD Million) 2018 – 2032 68

FIG NO. 34. North America Advanced Battery Energy Storage Systems Market for Flywheels, Volume & Revenue (Units) (USD Million) 2018 – 2032 69

FIG NO. 35. North America Advanced Battery Energy Storage Systems Market for Compressed Air Storage, Volume & Revenue (Units) (USD Million) 2018 – 2032 70

FIG NO. 36. North America Advanced Battery Energy Storage Systems Market for Pumped Hydro-Power, Volume & Revenue (Units) (USD Million) 2018 – 2032 71

FIG NO. 37. North America Advanced Battery Energy Storage Systems Market for Others, Volume & Revenue (Units) (USD Million) 2018 – 2032 72

FIG NO. 38. North America Advanced Battery Energy Storage Systems Market Volume Share, By Technology, 2023 & 2032 74

FIG NO. 39. North America Advanced Battery Energy Storage Systems Market Revenue Share, By Technology, 2023 & 2032 74

FIG NO. 40. Market Attractiveness Analysis, By Technology 75

FIG NO. 41. Incremental Revenue Growth Opportunity by Technology, 2024 – 2032 75

FIG NO. 42. North America Advanced Battery Energy Storage Systems Market Revenue, By Technology, 2018, 2023, 2027 & 2032 76

FIG NO. 43. North America Advanced Battery Energy Storage Systems Market for Mechanical, Volume & Revenue (Units) (USD Million) 2018 – 2032 77

FIG NO. 44. North America Advanced Battery Energy Storage Systems Market for Thermal, Volume & Revenue (Units) (USD Million) 2018 – 2032 78

FIG NO. 45. North America Advanced Battery Energy Storage Systems Market for Electro Chemical, Volume & Revenue (Units) (USD Million) 2018 – 2032 79

FIG NO. 46. North America Advanced Battery Energy Storage Systems Market for Others, Volume & Revenue (Units) (USD Million) 2018 – 2032 80

FIG NO. 47. North America Advanced Battery Energy Storage Systems Market Volume & Revenue, 2018 – 2032 (Units) (USD Million) 81

FIG NO. 48. Research Methodology – Detailed View 98

FIG NO. 49. Research Methodology 99

List of Tables

TABLE NO. 1. : North America Advanced Battery Energy Storage Systems Market: Snapshot 27

TABLE NO. 2. : Drivers for the North America Advanced Battery Energy Storage Systems Market: Impact Analysis 32

TABLE NO. 3. : Restraints for the North America Advanced Battery Energy Storage Systems Market: Impact Analysis 34

TABLE NO. 4. : North America Advanced Battery Energy Storage Systems Market Volume, By Country, 2018 – 2023 (Units) 82

TABLE NO. 5. : North America Advanced Battery Energy Storage Systems Market Volume, By Country, 2024 – 2032 (Units) 82

TABLE NO. 6. : North America Advanced Battery Energy Storage Systems Market Revenue, By Country, 2018 – 2023 (USD Million) 83

TABLE NO. 7. : North America Advanced Battery Energy Storage Systems Market Revenue, By Country, 2024 – 2032 (USD Million) 83

TABLE NO. 8. : North America Advanced Battery Energy Storage Systems Market Volume, By Type, 2018 – 2023 (Units) 84

TABLE NO. 9. : North America Advanced Battery Energy Storage Systems Market Volume, By Type, 2024 – 2032 (Units) 84

TABLE NO. 10. : North America Advanced Battery Energy Storage Systems Market Revenue, By Type, 2018 – 2023 (USD Million) 86

TABLE NO. 11. : North America Advanced Battery Energy Storage Systems Market Revenue, By Type, 2024 – 2032 (USD Million) 86

TABLE NO. 12. : North America Advanced Battery Energy Storage Systems Market Volume, By Application, 2018 – 2023 (Units) 88

TABLE NO. 13. : North America Advanced Battery Energy Storage Systems Market Volume, By Application, 2024 – 2032 (Units) 88

TABLE NO. 14. : North America Advanced Battery Energy Storage Systems Market Revenue, By Application, 2018 – 2023 (USD Million) 89

TABLE NO. 15. : North America Advanced Battery Energy Storage Systems Market Revenue, By Application, 2024 – 2032 (USD Million) 89

TABLE NO. 16. : North America Advanced Battery Energy Storage Systems Market Volume, By Storage Type , 2018 – 2023 (Units) 90

TABLE NO. 17. : North America Advanced Battery Energy Storage Systems Market Volume, By Storage Type , 2024 – 2032 (Units) 90

TABLE NO. 18. : North America Advanced Battery Energy Storage Systems Market Revenue, By Storage Type , 2018 – 2023 (USD Million) 91

TABLE NO. 19. : North America Advanced Battery Energy Storage Systems Market Revenue, By Storage Type , 2024 – 2032 (USD Million) 91

TABLE NO. 20. : North America Advanced Battery Energy Storage Systems Market Volume, By Technology, 2018 – 2023 (Units) 92

TABLE NO. 21. : North America Advanced Battery Energy Storage Systems Market Volume, By Technology, 2024 – 2032 (Units) 92

TABLE NO. 22. : North America Advanced Battery Energy Storage Systems Market Revenue, By Technology, 2018 – 2023 (USD Million) 93

TABLE NO. 23. : North America Advanced Battery Energy Storage Systems Market Revenue, By Technology, 2024 – 2032 (USD Million) 93

Frequently Asked Questions:

What is the projected growth rate for the North America Advanced Battery Energy Storage Systems Market?

The market is expected to grow at a compound annual growth rate (CAGR) of 9.67% from 2024 to 2032, increasing from USD 2,546.31 million in 2023 to USD 5,884.87 million by 2032.

What factors are driving the growth of advanced battery energy storage systems in North America?

Key drivers include rising investments in renewable energy, advancements in battery technology, growing adoption of electric vehicles, and supportive government policies and incentives promoting clean energy solutions.

Which region holds the largest market share in the North American Advanced Battery Energy Storage Systems Market?

The United States dominates the market with an approximately 85% share, driven by substantial investments in renewable energy and robust infrastructure.

How are government policies influencing the market for advanced battery energy storage systems?

Government policies and incentives, such as tax credits and subsidies, are crucial in supporting the adoption of advanced energy storage technologies and making them economically viable for broader deployment.

What are the emerging trends in the North America Advanced Battery Energy Storage Systems Market?

Trends include a shift towards lithium-ion batteries due to their high energy density, increased integration with smart grid technologies, and advancements in battery technologies such as solid-state and flow batteries for enhanced performance.

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