Top Companies in Advanced Energy Storage Systems Market | Industry Top Key Players Market Size, Share, Outlook by Vantage Market Research

The Advanced Energy Storage Systems Market is witnessing growth and is attributed to the increase in the electric vehicle market globally, growth in renewable energy investments, and regulatory changes demanding energy efficiency.

Top Companies in Advanced Energy Storage Systems Market | Industry Top Key Players Market Size, Share, Outlook by Vantage Market Research
advanced energy storage systems market


Global Advanced Energy Storage Systems Market is valued at USD 18.4 Million in the year 2021 and is projected to reach a value of USD 29 Million by the year 2028. The Global Market is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 7.9% over the forecast period. Growing investment in renewable power, growing the electrical automobiles market throughout the globe and moving authorities’ rules to grow the demand for stronger performance are the elements using the market boom of the Advanced Energy Storage Systems Market. The Global Advanced Energy Storage Systems Market file gives a holistic assessment of the market.

Advanced Energy Storage System (ESS) is a device or enterprise of the domestic device assembled that reworks the electrical power from energy systems and maintains strength to supply electric powered energy later even as needed. An ESS can help inefficaciously the use of and manipulate the electrical power and count on the advantage of robust power shipping and charge reduction. Combined, a non-public energy station and an ESS along with the Wind Energy generation or Solar Energy tool can deliver the strength for a 24/7 operable non-public energy network. The developing name for a large amount of renewable energy can be met with the help of AES. It moreover lets operators control the float of power belongings with the aid of using imparting only the required amount of power, consequently averting the waste of power.

Some of the key players operating in the Advanced Energy Storage Systems Market are listed below:

Company Name

Revenue in USD

  • AES Corporation

$10 Billion


$53 Billion

  • General Electric Company

$74 Billion

  • ABB

$28 Billion


$964 Million

  • LG Chem

$24 Billion

  • Siemens AG

$70 Billion

  • Panasonic Corporation

$54 Billion

  • Electrovaya

$11 Million

  • Hitachi 

$616 Million


  1. AES Corporation (US)

AES Corporation is one of the largest independent producers of electrical power in the world, with an ownership stake in 14 power-generating facilities in six U.S. states (California, Connecticut, Pennsylvania, Texas, Hawaii, and Oklahoma) and four foreign countries (the United Kingdom, Pakistan, China, and Argentina). The company supplies more than 3,567 megawatts of electricity worldwide, with most of its production taking place in the United States and Great Britain. New projects slated for completion in the late 1990s, however, we're expected to add at least 1,500 megawatts of electricity to the company's total production output; an estimated 85 percent of such new production was slated to occur in emerging overseas markets in Asia, the Near East, and Latin America.

2. Tesla Inc. (US)

Tesla Inc. (Tesla) is an automotive and energy company. It designs, develops, manufactures, sells, and leases electric vehicles and energy generation and storage systems. The company produces and sells the Model Y, Model 3, Model X, Model S, Cyber truck, Tesla Semi, and Tesla Roadster vehicles. Tesla also installs and maintains energy systems and sells solar electricity; and offers end-to-end clean energy products, including generation, storage, and consumption. It markets and sells vehicles to consumers through a network of company-owned stores and galleries. The company has manufacturing facilities in the US, Germany, and China and has operations across the Asia Pacific and Europe. Tesla is headquartered in Austin, Texas, The US.

  1. General Electric

General Electric Co. is a technology and financial services company. It operates through the following segments: Power, Renewable Energy, Aviation, Healthcare, and Capital.  The Power segment offers technologies, solutions, and services related to energy production, which includes gas and steam turbines, generators, and power generation services. The Renewable Energy segment provides wind turbine platforms, hardware & software, offshore wind turbines, solutions, products & services to the hydropower industry, blades for onshore & offshore wind turbines, and high voltage equipment.

  1. ABB (Switzerland)

ABB is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation, and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. With a history of excellence stretching back more than 130 years, ABB’s success is driven by about 105,000 talented employees in over 100 countries.                                       

  1. Saft (France)

Saft is a manufacturer of industrial batteries. The company operates in three divisions: industrial battery group, specialty battery group, and rechargeable battery systems. The company primarily serves the aviation, railway, industrial standby, defense, and emergency lighting manufacturing sectors.

  1. LG Chem. (South Korea)

In the petrochemical business, LG Chem has established a vertically integrated system that produces basic raw materials such as ethylene and propylene as well as downstream products including PE, ABS, and synthetic rubber. The company has achieved the highest productivity and cost competitiveness in the world in this core business area. In addition to upgrading the business structure around high-value-added products, LG Chem is steadily honing its competitive edge in the global market by fostering promising next-gen materials such as Nano-carbon tubes. 

  1. Siemens AG (Germany)

Siemens is a global powerhouse focusing on the areas of electrification, automation, and digitalization. One of the world’s largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of systems for power generation and transmission as well as medical diagnosis. In infrastructure and industry solutions, the company plays a pioneering role. 

  1. Panasonic Corporation (Japan)

Panasonic has recently designated India as a regional hub to drive growth and build deeper inroads into the fast emerging Asiatic, Middle Eastern, and Western economies. Starting from India, the company wants to create know-how to address consumers who are based out of India and then take the knowledge to emerge markets. India is the sixth strategic region that will take care of SAARC nations, Middle East Asia, and Africa. Panasonic will aggressively and strategically invest in market research and product innovation and will recruit/bring the best of global talent using its in-house open application system and work in areas like energy, water, remote access, and food.

  1. Electrovaya (Canada)

Electrovaya Inc. designs develop and manufacture proprietary lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications. It is a technology-focused company with extensive IP. The company generates revenue from the sale of batteries and battery systems. Business operations are segmented based on large format batteries and others. Geographically it earns key revenue from the United States.

  1. Hitachi Ltd. (Japan)

Hitachi Systems is a leading IT service provider specializing in developing and implementing business systems for customers of diverse sectors and sizes. The company also operate, monitor, and maintain those systems by using a multi-tiered service infrastructure comprising data centers, network and security operations centers, contact centers, and a nationwide network.

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