North America Lithium-Ion Battery Energy Storage Market Forecast to 2028- COVID-19 Impact and Regional Analysis- by Capacity, Connection Type, and End-use

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The North America lithium-ion battery energy storage market is expected to grow from US$ 4,295.34 million in 2023 to US$ 7,605.07 million by 2028. It is estimated to grow at a CAGR of 12.1% from 2023 to 2028.

Rising Number of Wind Farms Fuels North America Lithium-Ion Battery Energy Storage Market

Wind farms continue to improve the safety and performance of energy storage systems in terms of environmental impact by enhancing their quality, quantity, and reliability. Battery storage solutions are becoming more popular due to widespread support for renewable energy and carbon reduction. Batteries can be crucial in balancing the erratic nature of renewable energy sources, significantly boosting electricity consumers' demand for clean energy.

Several manufacturers are focusing on establishing wind farms across the region. Onshore wind technology continues to dominate the growth of wind capacity. Still, offshore wind technology is expected to grow in the coming years; 93% of 830 GW of installed wind power in 2021 was generated from onshore systems, with the remaining 7% from offshore wind farms. In contrast to offshore wind, which is still in the early stages of development and only has capacity in 19 nations, onshore wind is a mature technology used in 115 countries across the globe. However, with other nations preparing to build their first offshore wind farm, the offshore reach is anticipated to grow over the next few years. According to International Energy Agency, in 2021, offshore technology contributed ~22% of the 94 GW increase in overall wind capacity, three times the average over the preceding five years. Thus, the growing number of onshore and offshore wind farms are increasing the demand for battery energy storage, which is further driving the growth of North America lithium-ion battery energy storage market .

North America Lithium-Ion Battery Energy Storage Market Overview

North America lithium-ion battery energy storage market is broadly segmented into major 3 countries US, Canada, and Mexico. In North America, according to the US Department of Energy, the wind energy installation of 13 GW was done in 2021 in the US. Similarly, according to the Canadian Renewable Energy Association (CanREA), Canada installed 1.8 GW of new utility-scale wind and solar energy capacity in 2022. Together, solar, wind, and energy storage sectors grew by 10.5% compared to 2021. Also, it was seen that the energy storage additions of 50 MW were made, which is an increase of 30.5% annually. This accounted for a total of ~214 MW at the end of 2022. Thus, the growing investment in solar, wind, and energy storage capacity will increase the demand for lithium-ion batteries in the region.

North America Lithium-Ion Battery Energy Storage Market Revenue and Forecast to 2028 (US$ Million)

North America Lithium-Ion Battery Energy Storage Market Segmentation

The North America lithium-ion battery energy storage market is segmented into capacity, connection type, end-use, and country.

Based on capacity, the North America lithium-ion battery energy storage market is segmented into 0-10 kW, 10-20 kW, 20-50 kW, and Above 50 kW. The 10-20 kW segment held the largest share of the North America lithium-ion battery energy storage market in 2023.

Based on connection type, the North America lithium-ion battery energy storage market is segmented into on-grid and off-grid. The on-grid segment held a larger share of the North America lithium-ion battery energy storage market in 2023.

Based on end use, the North America lithium-ion battery energy storage market is segmented into residential, commercial and industrial, and utility. The utility segment held the largest share of the North America lithium-ion battery energy storage market in 2023.

Based on country, the North America lithium-ion battery energy storage market is segmented into the US, Canada, and Mexico. The US dominated the share of the North America lithium-ion battery energy storage market in 2023.

ABB Ltd; Blue Solutions SAS; BYD Co Ltd; Contemporary Amperex Technology Co Ltd; Doosan Gridtech Inc; Exide Industries Ltd; General Electric Co; Hitachi Energy Ltd; LG Chem Ltd; Mitsubishi Heavy Industries Ltd; Panasonic Holdings Corp; Samsung SDI Co Ltd; Siemens Energy AG; and Toshiba Corp are the leading companies operating in the North America lithium-ion battery energy storage market.

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Product Code: BMIRE00028841

1. Introduction

1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. North America Lithium-Ion Battery Energy Storage Market Landscape

4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions

5. North America Lithium-Ion Battery Energy Storage Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Rising Number of Wind Farms
- 5.1.2 Growing Establishment of Solar Plants
5.2 Market Restraints
- 5.2.1 Availability of Alternative Technology
5.3 Market Opportunities
- 5.3.1 Future Renewable Energy Pipeline
5.4 Trends
- 5.4.1 Virtual Power Plant
5.5 Impact Analysis of Drivers and Restraints

6. Lithium-Ion Battery Energy Storage Market -North America Market Analysis

6.1 North America Lithium-Ion Battery Energy Storage Market Overview
6.2 North America Lithium-Ion Battery Energy Storage Market Revenue Forecast and Analysis (US$ Million)

7. North America Lithium-Ion Battery Energy Storage Market Revenue and Forecast to 2028 - Capacity

7.1 Overview
7.2 North America Lithium-Ion Battery Energy Storage Market, By Capacity (2022 & 2028)
7.3 0-10kW
- 7.3.1 Overview
- 7.3.2 0-10kW: North America Lithium-Ion Battery Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
7.4-20kW
- 7.4.1 Overview
- 7.4.2-20kW: North America Lithium-Ion Battery Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
7.5-50kW
- 7.5.1 Overview
- 7.5.2-50kW: North America Lithium-Ion Battery Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
7.6 Above 50kW
- 7.6.1 Overview
- 7.6.2 Above 50kW: North America Lithium-Ion Battery Energy Storage Market Revenue and Forecast to 2028 (US$ Million)

8. North America Lithium-Ion Battery Energy Storage Market Revenue and Forecast to 2028 - Connection Type

8.1 Overview
8.2 North America Lithium-Ion Battery Energy Storage Market, By Connection Type (2022 & 2028)
8.3 On-Grid
- 8.3.1 Overview
- 8.3.2 On-Grid: North America Lithium-Ion Battery Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
8.4 Off-Grid
- 8.4.1 Overview
- 8.4.2 Off-Grid: North America Lithium-Ion Battery Energy Storage Market Revenue and Forecast to 2028 (US$ Million)

9. North America Lithium-Ion Battery Energy Storage Market Revenue and Forecast to 2028 - End Use

9.1 Overview
9.2 North America Lithium-Ion Battery Energy Storage Market, By End Use (2022 & 2028)
9.3 Residential
- 9.3.1 Overview
- 9.3.2 Residential: North America Lithium-Ion Battery Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
  - 9.3.2.1 0-10 KW
    - 9.3.2.1.1 0-10 KW: North America Lithium-Ion Battery Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
  - 9.3.2.2-20 KW
    - 9.3.2.2.1-20 KW: North America Lithium-Ion Battery Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
  - 9.3.2.3-50 KW
    - 9.3.2.3.1-50 KW: North America Lithium-Ion Battery Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
9.4 Commercial and Industrial
- 9.4.1 Overview
- 9.4.2 Commercial and Industrial: North America Lithium-Ion Battery Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
  - 9.4.2.1 0-10 KW
    - 9.4.2.1.1 0-10 KW: North America Lithium-Ion Battery Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
  - 9.4.2.2-20 KW
    - 9.4.2.2.1-20 KW: North America Lithium-Ion Battery Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
  - 9.4.2.3-50 KW
    - 9.4.2.3.1-50 KW: North America Lithium-Ion Battery Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
  - 9.4.2.4 Above 50kW
    - 9.4.2.4.1 Above 50kW: North America Lithium-Ion Battery Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
9.5 Utility
- 9.5.1 Overview
- 9.5.2 Utility: North America Lithium-Ion Battery Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
  - 9.5.2.1 0-10 KW
    - 9.5.2.1.1 0-10 KW: North America Lithium-Ion Battery Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
  - 9.5.2.2-20 KW
    - 9.5.2.2.1-20 KW: North America Lithium-Ion Battery Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
  - 9.5.2.3-50 KW
    - 9.5.2.3.1-50 KW: North America Lithium-Ion Battery Energy Storage Market Revenue and Forecast to 2028 (US$ Million)
  - 9.5.2.4 Above 50kW
    - 9.5.2.4.1 Above 50kW: North America Lithium-Ion Battery Energy Storage Market Revenue and Forecast to 2028 (US$ Million)

10. North America Lithium-Ion Battery Energy Storage Market - Country Analysis

10.1 Overview
- 10.1.1 North America Lithium-Ion Battery Energy Storage Market, by Key Country
  - 10.1.1.1 US: North America Lithium-Ion Battery Energy Storage Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.1.1.1 US: North America Lithium-Ion Battery Energy Storage Market, By Capacity
    - 10.1.1.1.2 US: North America Lithium-Ion Battery Energy Storage Market, by Connection Type
    - 10.1.1.1.3 US: North America Lithium-Ion Battery Energy Storage Market, by End Use
  - 10.1.1.2 Canada: North America Lithium-Ion Battery Energy Storage Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.1.2.1 Canada: North America Lithium-Ion Battery Energy Storage Market, By Capacity
    - 10.1.1.2.2 Canada: North America Lithium-Ion Battery Energy Storage Market, by Connection Type
    - 10.1.1.2.3 Canada: North America Lithium-Ion Battery Energy Storage Market, by End Use
  - 10.1.1.3 Mexico: North America Lithium-Ion Battery Energy Storage Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.1.3.1 Mexico: North America Lithium-Ion Battery Energy Storage Market, By Capacity
    - 10.1.1.3.2 Mexico: North America Lithium-Ion Battery Energy Storage Market, by Connection Type
    - 10.1.1.3.3 Mexico: North America Lithium-Ion Battery Energy Storage Market, by End Use

11. Industry Landscape

11.1 Overview
11.2 Market Initiative

12. Company Profiles

12.1 ABB Ltd
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
12.2 Doosan Gridtech Inc
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
12.3 Exide Industries Ltd
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
12.4 Hitachi Energy Ltd
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
12.5 Toshiba Corp
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
12.6 Mitsubishi Heavy Industries Ltd
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments
12.7 Blue Solutions SAS
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
12.8 General Electric Co
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments
12.9 Siemens Energy AG
- 12.9.1 Key Facts
- 12.9.2 Business Description
- 12.9.3 Products and Services
- 12.9.4 Financial Overview
- 12.9.5 SWOT Analysis
- 12.9.6 Key Developments
12.10 Panasonic Holdings Corp
- 12.10.1 Key Facts
- 12.10.2 Business Description
- 12.10.3 Products and Services
- 12.10.4 Financial Overview
- 12.10.5 SWOT Analysis
- 12.10.6 Key Developments
12.11 Contemporary Amperex Technology Co Ltd
- 12.11.1 Key Facts
- 12.11.2 Business Description
- 12.11.3 Products and Services
- 12.11.4 Financial Overview
- 12.11.5 SWOT Analysis
- 12.11.6 Key Developments
12.12 Samsung SDI Co Ltd
- 12.12.1 Key Facts
- 12.12.2 Business Description
- 12.12.3 Products and Services
- 12.12.4 Financial Overview
- 12.12.5 SWOT Analysis
- 12.12.6 Key Developments
12.13 LG Chem Ltd
- 12.13.1 Key Facts
- 12.13.2 Business Description
- 12.13.3 Products and Services
- 12.13.4 Financial Overview
- 12.13.5 SWOT Analysis
- 12.13.6 Key Developments
12.14 BYD Co Ltd
- 12.14.1 Key Facts
- 12.14.2 Business Description
- 12.14.3 Products and Services
- 12.14.4 Financial Overview
- 12.14.5 SWOT Analysis
- 12.14.6 Key Developments

13. Appendix

13.1 About The Insight Partners
13.2 Word Index