Long Duration Energy Storage Market Size, Share, Trends, Industry Analysis Report: By Technology (Mechanical Storage, Thermal Storage, Electrochemical Storage, and Chemical Storage), Duration, Capacity, Application, End User, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2025–2034
- Published Date:Mar-2025
- Pages: 129
- Format: PDF
- Report ID: PM5443
- Base Year: 2024
- Historical Data: 2020-2023
Long Duration Energy Storage Market Overview
The global long duration energy storage market size was valued at USD 4.81 billion in 2024. The market is projected to grow from USD 5.45 billion in 2025 to USD 17.00 billion by 2034, exhibiting a CAGR of 13.5 % during 2025–2034.
Long duration energy storage refers to storage technologies capable of providing electricity for extended periods, typically 10 hours or more, making them essential for integrating renewable energy sources into the power grid. Unlike conventional storage solutions that discharge power for only a few hours, long duration energy systems sustain power output for days or even weeks, addressing the intermittency of renewable sources such as solar and wind. These technologies include various methods such as pumped hydropower, thermal storage, and advanced battery systems, each designed to store energy efficiently and safely.
The rising investments in renewable energy sources propel the long duration energy storage market growth. As per the data published by the International Energy Agency, USD 2 trillion was invested in renewable energy technologies and infrastructure in 2024 across globe. Increased funding in renewable energy sources leads to high solar and wind power generation. Solar and wind power generation usually fluctuate due to weather conditions, creating a gap between supply and demand. Utilities and grid operators need reliable storage solutions to balance this variability and ensure a steady power supply. Long duration energy storage technologies, such as pumped hydro, flow batteries, and thermal energy storage, help store excess energy during peak production and release it when power generation drops, making it suitable for renewable energy sources, including solar and wind. Therefore, as governments and businesses invest in renewable energy sources, the demand for efficient storage systems such as long duration energy storage increases to maintain grid stability and prevent energy wastage.
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Source: Secondary Research, Primary Research, PMR Database and Analyst Review
The rising focus on decarbonization boosts the long duration energy storage market demand. Decarbonization encourages governments and businesses to push for cleaner energy sources such as solar and wind. These renewable sources generate power intermittently, creating challenges in matching supply with demand. Long-duration energy storage systems tackle these challenges by storing excess renewable energy and providing a stable power supply when power generation drops. Thus, the demand for long duration energy storage technologies is increasing with the growing focus on decarbonization.
Long Duration Energy Storage Market Dynamics
Rising Technological Advancements in Energy Storage Solutions
Innovation in storage solutions such as next-generation batteries, thermal storage, and hydrogen-based systems offer better performance and longer lifespans than traditional lithium-ion and lead-acid batteries. These improvements make long duration energy storage technology more capable of integrating renewable energy into the grid and supporting industrial operations. Additionally, advancements in technology reduce the cost of installation and maintenance of long duration energy storage systems, which encourages their wider adoption across electric grid stations. As the demand for reliable and sustainable energy storage grows, these innovations play a crucial role in enhancing grid stability, supporting industrial applications, and accelerating the transition to renewable energy. With continued advancements and cost reductions, long-duration energy storage solutions will become an essential component of the global energy infrastructure, driving a more resilient and efficient power system.
Increasing Urbanization Worldwide
The urban population is increasing across the world. According to the World Bank, 57.25 % of the global population was urban in 2023. Urban areas require reliable and sustainable energy sources to support growing populations, businesses, and transportation systems. To meet this requirement, governments and local organizations invest in renewable energy sources such as wind and solar. This factor increases the adoption of long duration energy storage systems as these systems store excess renewable energy during peak production and release it when power generation drops. Urbanization leads to the development of smart cities and the electrification of public transport. This increases the need for energy storage solutions such as long duration energy storage to prevent blackouts, optimize energy use, and support a cleaner, more resilient urban energy system. Therefore, the growing urbanization drives the long duration energy storage market development.
Long Duration Energy Storage Market Segment Insights
Long Duration Energy Storage Market Evaluation by Technology
Based on technology, the long duration energy storage market is divided into mechanical storage, thermal storage, electrochemical storage, and chemical storage. The electrochemical storage segment held the largest long duration energy storage market share in 2024 due to its declining costs, high energy density, and proven performance in grid-scale applications. The increasing deployment of renewable energy sources, such as solar and wind, necessitated reliable storage solutions to address intermittency, and electrochemical storage emerged as the most capable option. Additionally, advancements in battery chemistry, such as the development of solid-state batteries and improvements in cycle life, further propelled the segment growth. Governments and private entities heavily invested in this technology, recognizing its potential to stabilize grids and support decarbonization goals.
Long Duration Energy Storage Market Outlook by Application
In terms of application, the long duration energy storage market is segregated into grid management, power backup, renewable energy integration, and off grid & micro grid systems. The renewable energy integration segment dominated the long duration energy storage market revenue share in 2024 due to a global push toward decarbonization and the rapid expansion of solar and wind energy projects. Renewable energy integration systems provide the flexibility to store excess energy during periods of high generation and release it during peak demand or low generation periods, ensuring grid stability. Governments and utilities worldwide are implementing policies and incentives to accelerate the adoption of storage technologies that seamlessly integrate renewables into the energy mix. Additionally, advancements in energy management systems and declining costs of storage technologies fueled the growth of the segment.
Long Duration Energy Storage Market Regional Analysis
By region, the report provides long duration energy storage market insight into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific dominated the market share in 2024 due to rapid industrialization, expanding renewable energy capacity, and strong government support for energy storage initiatives. According to the long duration energy storage market statistics, China led the regional market, driven by aggressive investments in grid modernization and large-scale battery storage projects. The country’s ambitious carbon neutrality targets and commitment to renewable energy integration fueled demand for long duration energy storage technologies. Favorable policies, including subsidies for energy storage deployment and mandates for renewable capacity expansion, are expected to provide lucrative market growth opportunities in the region during the forecast period. Additionally, Japan and South Korea contributed significantly to the market growth in the region by advancing battery technologies and investing in resilient energy infrastructure.
The North America long duration energy storage market is estimated to grow at a rapid pace during the forecast period, owing to investments in renewable energy projects, supportive government policies, and the need to modernize aging grid infrastructure. The US is estimated to dominate the regional market during the forecast period due to its aggressive decarbonization goals and significant funding for clean energy initiatives. Federal and state-level incentives, such as tax credits and grants for energy storage deployment, played a crucial role in accelerating the adoption of long duration energy storage systems. Additionally, the increasing frequency of extreme weather events in the region, such as hurricanes and wildfires, is creating the need for resilient energy systems, such as advanced storage solutions, which propels the long duration energy storage market expansion in North America.
Long Duration Energy Storage Market – Key Players & Competitive Analysis Report
Prominent market players are investing heavily in research and development to expand their offerings, which will boost the long duration energy storage market growth. These market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments such as innovative launches, international collaborations, higher investments, and mergers and acquisitions between organizations.
The long duration energy storage market is fragmented, with the presence of numerous global and regional market players. A few major players in the market include Alsym Energy Inc.; Ambri Incorporated; CMBlu Energy AG; Energy Vault, Inc.; Eos Energy Enterprises; ESS Tech, Inc.; Form Energy; GKN Hydrogen; Highview Power; Invinity Energy Systems; Malta Inc.; MAN Energy Solutions; MGA Thermal Pty Ltd; Primus Power; QuantumScape Battery, Inc.; RheEnergise Limited; SFW; Sumitomo Electric Industries, Ltd.; VFlowTech Pte Ltd; and VoltStorage.
VFlowTech Pte Ltd, established in 2018 and based in Singapore, is a company specializing in the development and manufacturing of modular vanadium redox flow batteries (VRFBs). VFlowTech has positioned itself at the forefront of the energy storage revolution with a mission to create the most affordable and efficient long-duration energy storage solutions. The company’s flagship product, the PowerCube, is designed to provide reliable and safe energy storage, boasting an impressive lifespan of up to 25 years. This technology is particularly notable for its environmentally friendly characteristics and high safety standards, making it a compelling alternative to conventional battery technologies such as lithium-ion and lead-acid batteries, which suffer from performance degradation and environmental concerns.
Alsym Energy Inc. is focused on innovating and developing a new generation of battery technology aimed at addressing the limitations of conventional lithium-ion batteries. Founded by a team of experts, including MIT Professor Kripa Varanasi and CEO Mukesh Chatter, the company has created a nonflammable, nontoxic battery that utilizes abundant materials, making it a safer and more sustainable alternative for long-duration energy storage. The company's unique approach involves designing batteries that bridge the gap in renewable energy applications, particularly for sectors that require reliable and safe energy storage solutions, such as industrial manufacturing, data centers, and residential power systems. Alsym Energy's batteries offer impressive capabilities, including the ability to provide 1.7 megawatt-hours of electricity from a standard shipping container and fast charging within four hours. Alsym batteries can be configured for various discharge durations ranging from two to 110 hours, making them highly adaptable to different energy needs.
List of Key Companies in Long Duration Energy Storage Market
- Alsym Energy Inc.
- Ambri Incorporated
- CMBlu Energy AG
- Energy Vault, Inc.
- Eos Energy Enterprises
- ESS Tech, Inc.
- Form Energy
- GKN Hydrogen
- Highview Power
- Invinity Energy Systems
- Malta Inc.
- MAN Energy Solutions
- MGA Thermal Pty Ltd
- Primus Power
- QuantumScape Battery, Inc.
- RheEnergise Limited
- SFW
- Sumitomo Electric Industries, Ltd.
- VFlowTech Pte Ltd
- VoltStorage
Long Duration Energy Storage Industry Developments
December 2024: Stryten Energy LLC (a US-based energy storage solutions provider), in collaboration with Largo Inc., launched a long-duration energy storage company, namely Storion Energy, LLC.
June 2024: VFlowTech Pte Ltd announced the launch of the largest long-duration energy storage manufacturing facility at Palwal, Haryana, during the India Energy Storage Week (IESW) 2024.
June 2024: Governor of New York City announced over USD 5 million for long duration energy storage projects through New York State’s Renewable Optimization and Energy Storage Innovation Program.
Long Duration Energy Storage Market Segmentation
By Technology Outlook (Revenue, USD Billion, 2020–2034)
- Mechanical Storage
- Thermal Storage
- Electrochemical Storage
- Chemical Storage
By Duration Outlook (Revenue, USD Billion, 2020–2034)
- 8 to 24 Hours
- 24 to 36 Hours
- >36 Hours
By Capacity Outlook (Revenue, USD Billion, 2020–2034)
- Up to 50 MW
- 50–100 MW
- >100 MW
By Application Outlook (Revenue, USD Billion, 2020–2034)
- Grid Management
- Power Backup
- Renewable Energy Integration
- Off Grid & Micro Grid System
By End User Outlook (Revenue, USD Billion, 2020–2034)
- Residential & Commercial
- Transportation & Mobility
- Utilities
- Others
By Regional Outlook (Revenue, USD Billion, 2020–2034)
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Vietnam
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
Long Duration Energy Storage Market Report Scope
|
Report Attributes |
Details |
|
Market Size Value in 2024 |
USD 4.81 Billion |
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Revenue Forecast in 2025 |
USD 5.45 Billion |
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Revenue Forecast by 2034 |
USD 17.00 Billion |
|
CAGR |
13.5% from 2025 to 2034 |
|
Base Year |
2024 |
|
Historical Data |
2020–2023 |
|
Forecast Period |
2025–2034 |
|
Quantitative Units |
Revenue in USD Billion and CAGR from 2025 to 2034 |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
|
|
Regional Scope |
|
|
Competitive Landscape |
|
|
Report Format |
|
|
Customization |
Report customization as per your requirements with respect to countries, regions, and segmentation. |
FAQ's
The global long duration energy storage market size was valued at USD 4.81 billion in 2024 and is projected to grow to USD 17.00 billion by 2034.
The global market is projected to register a CAGR of 13.5 % during the forecast period.
Asia Pacific had the largest share of the global market in 2024.
Alsym Energy Inc.; Ambri Incorporated; CMBlu Energy AG; Energy Vault, Inc.; Eos Energy Enterprises; ESS Tech, Inc.; Form Energy; GKN Hydrogen; Highview Power; Invinity Energy Systems; Malta Inc.; MAN Energy Solutions; MGA Thermal Pty Ltd; Primus Power; QuantumScape Battery, Inc.; RheEnergise Limited; SFW; Sumitomo Electric Industries, Ltd.; VFlowTech Pte Ltd; and VoltStorage are among the key players in the market
The electrochemical storage segment dominated the market share in 2024.
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