Insight
APAC Energy Storage Markets and Supply Trends
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Energy storage drivers are various in APAC region as incentives and market dynamics are main reasons pushing forward the storage market growth. South Korea ranked first globally in 2018 with the highest storage capacity coming online, largely spurred by its strong government policies and subsidies to make solar-plus-storage economics already attractive. Solar-plus-storage will be competitive against gas peakers by 2023 in Australia and provides 76% savings on annual electric bills in NSW. Battery is the key to energy storage and could be applied into various industry. Electric vehicles offer great potential on storage and battery demand and will definitely push forward the market growth in the near future. We expect battery demand will still be dominated by the EV sector, 95% of market share in 2040 and the global battery cell manufacturing will grow beyond 650 GWh by 2026.
Table of contents
- No table of contents specified
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Insight
Graphite: Five things to look for in 2026
This year's key trends: growth of ESS batteries, ex-China supply chain issues, Si/C ramp-up, EU electrode challenges, military applications.
$1,050
Market Report
Europe C&I energy storage outlook 2025
This regional report provides a ten-year market outlook update for Europe commercial and Industrial (C&I) energy storage segment.
$5,990
Insight
Webinar: States of Charge - How policy changes are rewiring the US’ demand for energy transition and battery raw materials
Catch the recording of our webinar exploring how recent US policy changes are rewiring critical metals markets and supply chains.
$1,050
