Market Overview

The global market for Long Duration Energy Storage (LDES) has been estimated at 6,469.2MW in 2024, by shipment capacity, up 179.8% year over year.

To cope with extreme weather conditions caused by global warming, countries around the world are moving toward carbon neutrality and decarbonization, phasing out nuclear power plants, and expanding the use of renewable energy. Demonstrations of renewable energy and energy storage technologies are underway in major countries, which is increasing the installation of LDES, backed by reinforced government support, such as subsidies and tax benefits for commercial applications. When observing LDES by technology type, hydrogen energy storage appears to have the largest share, followed by gravity-based energy storage, compressed energy storage, redox flow batteries, and sodium-sulfur batteries.

Noteworthy Topics

The Current Mainstream is LDES with 4 to 6 Hours Duration, Predicted to Expand to 10 Hours or More in the Future

Expanded deployment of renewable energy is likely to increase the importance of longer duration of energy, for days or even across the seasons, rather than just short-term adjustment.
Long-term high-capacity energy storage technologies include 1) electrochemical technologies such as redox flow batteries and sodium-sulfur (NAS) batteries that have a charge/discharge duration of more than 10 hours, as well as hydrogen storage, 2) gravity-based energy storage technology, 3) compressed energy storage technologies that use compressed air or liquid air, and several other technologies. They are in the spotlight and are expected to be promising options for LDES.
In the current LDES market, the mainstream is considered as the storage with a charge/discharge duration of 4 to 6 hours. In the future, longer duration storage with more than 10 hours of charge/discharge is projected to be in demand, in conjunction with large renewable energy installations.

Future Outlook

To achieve carbon neutrality by 2050, the global share of renewable energy in electricity generation is expected to increase, with solar power and wind power sources being the largest contributors. This indicates that renewable energy sources will provide most of the energy supply in the future. In association with the expansion of renewable energy facilities, the importance of long-term energy storage technology is likely to increase.
Based on the above situation, the CAGR for the global LDES market from 2023 to 2030 is forecast to reach 80.0%, with the global CAGR market size attaining 220,186.3 MW in 2030.

Research Outline