Asia Pacific energy storage outlook 2021 Report

Market Report 12 August 2021

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Report summary

Asia Pacific will lose the market leadership but win the supply chain battle in the next decade. Annual storage deployments in Asia Pacific will rise 19-fold from 3.5 GWh in 2020 to 67.6 GWh in 2030. The region deployed 2 GW/3.5 GWh of storage in 2020, reaching 7 GW/13 GWh in total. Overall, the Asia Pacific storage market attracted US$1.9 billion of investment in 2020, down 7% from US$2 billion in 2019. Asia Pacific currently leads global storage markets, but will lose its leadership position by 2030 to the Americas. However, Asia Pacific battery cell manufacturing reached 407 GWh in 2020, accounting for 81% of global capacity. This report provides an outlook for Asia Pacific energy storage markets and synthesizes key trends, the project pipeline, market and regulation considerations, technology and supply chain, storage investment and partnerships.