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North America Battery Storage Service Market

North America Battery Storage Service Market Size, Share: By Service Type: Temperature Monitoring, Calibration (Charge and Discharge Rate), Emergency Services (Damage or Power Outages), Preventive Maintenance, Others; By Deployment: Onsite, Offsite; By Battery Type; Regional Analysis; Competitive Landscape; 2024-2032

North America Battery Storage Service Market Outlook

The North America battery storage service market size reached a value of nearly USD 209.84 million in 2023. The market is projected to grow at a CAGR of 13.2% between 2024 and 2032 to reach around USD 893.11 million by 2032.

 

Key Takeaways

  • Favourable tax credit schemes, such as the Inflation Reduction Act (IRA) in the USA, aid the adoption of battery storage systems and consequently their services.
  • Altairnano, Ecoult, and General Electric Company are a few of the major companies in the market.
  • The rising popularity of renewable energy and the decreasing cost of battery technology aid the market for battery storage services.

 

As renewable energy adoption continues to grow in the USA and Canada, the installation of utility-scale battery energy storage systems is growing. As governments across North America are focused on meeting their net zero carbon goal, they are further driving the demand for battery storage systems.

 

Some of the factors driving the North America battery storage service market growth are the rising adoption of renewable energy and the growing applications of battery-powered backup systems. With the rising focus on sustainability, the market for vanadium flow batteries is expected to increase owing to their high rate of recyclability.

 

Key Trends and Developments

Increasing demand for renewable energy; introduction of favourable tax credit schemes; reducing battery technology costs; and technological advancements and innovations are aiding the North America battery storage service market

 

June 2023

Matrix Renewables announced its acquisition of the Stillhouse Solar Project, a late-stage development 284 MWdc solar project in Bell County, Texas, from OCI Solar Power.

 

May 2023

Orange and Rockland Utilities (O&R) and Convergent Energy and Power successfully completed a pioneering 12MW / 57 MWh battery storage project in Warwick, New York.

 

February 2023

OCI Solar Power and Mitsui USA entered into a collaborative agreement aimed at joint involvement in utility-scale solar energy ventures within Texas.

 

November 2022

GlidePath, in partnership with optimiser Habitat Energy, commenced operations of the 50MW Byrd Ranch battery energy storage system in Texas.

 

Increasing demand for renewable energy

Rising demand for renewable energy aids the demand for battery storage services, like construction and installation, and annual preventive maintenance.

 

Favourable tax credit schemes

The Inflation Reduction Act (IRA) in the USA aids the adoption of battery storage systems and consequently their services.

 

Decreasing costs of battery technology

Reducing battery technology costs contribute to the popularity and adoption of battery storage systems in the energy market.

 

Technological advancements and innovations

Implementation of the Industrial Internet of Things (IIoT) can help battery storage system operators oversee their systems remotely and enhance their overall performance.

 

Figure: USA Energy Storage Service Market by Technology (2018-2028); USD Million

North America Battery Storage Service Market

 

North America Battery Storage Service Market Trends

The rising demand for battery storage systems stimulates the market expansion. The rapid growth of the energy storage system (ESS) market in North America is driven by national and regional regulatory authorities and energy customers installing wind, solar PV, and other renewable energy-based power systems. Additionally, the adoption of battery-based backup power systems for industrial facilities, offices, and homes has supported the demand for battery storage systems and their services.

 

Furthermore, favourable tax credit schemes are likely to aid the North America battery storage service market growth. For instance, the 2023 Federal Budget in Canada introduced a 15% Clean Electricity Investment Tax Credit (ITC) supporting stationary power storage systems that eliminate the use of fossil fuels. The initiative demonstrates that Canada comprehends the role energy storage plays in its energy transition.

 

Market Segmentation

North America Battery Storage Service Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

 

Market Breakup by Service Type

  • Temperature Monitoring
  • Calibration (Charge and Discharge Rate)
  • Emergency services (Damage or Power Outages)
  • Preventative Maintenance
  • Decommissioning/Recycling
  • Others

 

Market Breakup by Deployment

  • Onsite
  • Offsite

 

Market Breakup by Battery Type

  • Lithium Ion Battery
  • Flow Battery
  • Others

 

Market Breakup by Country

  • United States of America
  • Canada

 

By deployment, offsite is expected to hold a significant market share as it helps in maximising the benefits of energy storage.

Offsite, such as SCADA maintenance, remotely monitors and controls the components of the battery storage system using a programmable logic controller (PLC). Using the human-machine interfaces, operators can monitor in real-time and issue start/ stop commands, and charging/ discharging commands for the battery management system. SCADA systems help in maximising the benefits of energy storage by providing real-time monitoring, control, and data acquisition. The rising importance of adopting SCADA systems to save time aids the North America battery storage services market development.

 

With the growing effort to increase the energy density of storage systems, there is also a rising risk of battery malfunctions. As a result, the demand for onsite battery management systems (BMS) is rising. The use of onsite energy storage systems by manufacturing facilities calls for the safety of workers on site. This caters to a greater deployment of services to keep the working of the battery efficient and errorless.

 

Lithium-ion batteries are expected to dominate the North America battery storage services market share due to their cost-effectiveness

By battery type, lithium-ion batteries are expected to hold the largest market share as the majority of storage systems currently operational rely on lithium batteries. Due to their cost-effectiveness and high efficiency, lithium-ion batteries are a popular choice. Lithium batteries offer the most economically viable option for storage periods, ranging from 30 minutes to three hours.

 

To store electricity when supplies are abundant, the demand for flow batteries, an electrochemical device, is increasing. Power stacks and balance-of-system components in flow batteries require greater routine maintenance to ensure that their performance does not degrade within the project's lifetime.

 

Competitive Landscape

Major players in the North America battery storage service market are increasing their collaboration, partnership, and research and development activities to gain a competitive edge

 

Glidepath Federal Solutions LLC

Glidepath Federal Solutions LLC was founded in 2017 and is headquartered in the United States. It distinguishes itself as a proficient owner-operator and all-encompassing developer of eco-friendly energy and storage infrastructures.

 

Convergent Energy and Power

Convergent Energy and Power, headquartered in the United States, was founded in 2011. It offers a wide range of services and solutions, including smart grid applications, grid-scale project development, interconnection and permitting services.

 

ZGlobal Inc

ZGlobal Inc was founded in 2005 and is headquartered in the United States. It offers a comprehensive array of specialized services, which include power engineering, market analytics, portfolio and risk management, infrastructure development, and energy scheduling.

 

General Electric Company

General Electric Company, founded in 1892, is headquartered in the United States. The company provides battery storage services through its extensive range of Reservoir Solutions.

 

Other key players in the North America battery storage service market include Stem, Inc., Fluence Energy, Inc., OCI Solar Power LLC, and CODA Energy Holdings LLC, among others.

 

North America Battery Storage Service Market Analysis by Region

The United States of America accounts for a significant market share due to the wider adoption of flow batteries. An increase in the adoption of flow batteries provides an opportunity for services like annual maintenance, new air filters and topping off the electrolyte. Battery storage systems are flexible and crucial to meet the energy needs of various stakeholders, such as energy markets, utilities, and customers in the USA.

 

The Canadian market, meanwhile, is driven by the growing government investments in renewable energy. In its 2023 federal budget, the Canadian government included a 15% refundable tax credit for investments in stationary power storage systems that do not make use of fossil fuels. Additionally, the governments of Canada and Ontario are working together to develop the largest battery storage project in the country, the 250-megawatt (MW) Oneida Energy storage project, propelling the North America battery storage service market expansion.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Service Type
  • Deployment
  • Battery Type
  • Region
Breakup by Service Type
  • Temperature Monitoring
  • Calibration (Charge and Discharge Rate)
  • Emergency Services (Damage or Power Outages)
  • Preventive Maintenance
  • Decommissioning/Recycling
  • Others
Breakup by Deployment
  • Onsite
  • Offsite
Breakup by Battery Type
  • Lithium Ion Battery
  • Flow Battery
  • Others
Breakup by Region
  • United States of America 
  • Canada
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Glidepath Federal Solutions LLC
  • ZGlobal Inc
  • Convergent Energy and Power
  • General Electric Company
  • Stem, Inc.
  • Fluence Energy, Inc.
  • OCI Solar Power LLC
  • CODA Energy Holdings LLC
  • Others

 

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North America Battery Storage Service Market Report Snapshots

North America Battery Storage Service Market Size

North America Battery Storage Service Market Trends

North America Battery Storage Service Market Regional Analysis

North America Battery Storage Service Companies

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers    
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
7    Opportunities and Challenges in the Market
8    North America Energy Storage Service Market Overview

    8.1    Key Industry Highlights
    8.2    North America Energy Storage Service Historical Market (2018-2023) 
    8.3    North America Energy Storage Service Market Forecast (2024-2032)
9    North America Energy Storage Service Market by Technology
    9.1    Pumped Storage
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    Electrochemical Storage
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
    9.3    Electromechanical Storage
        9.3.1    Historical Trend (2018-2023)
        9.3.2    Forecast Trend (2024-2032)
    9.4    Thermal Storage
        9.4.1    Historical Trend (2018-2023)
        9.4.2    Forecast Trend (2024-2032)
10    North America Energy Storage Service Market by Country
    10.1    United States of America
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
        10.1.3    Market by Technology
    10.2    Canada
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
        10.2.3    Market by Technology
11    North America Battery Storage Service Market Overview
    11.1    Key Industry Highlights
    11.2    North America Battery Storage Service Historical Market (2018-2023) 
    11.3    North America Battery Storage Service Market Forecast (2024-2032)
12    North America Battery Storage Service Market by Service Type
    12.1    Temperature Monitoring
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    Calibration (Charge and Discharge Rate)
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
    12.3    Emergency Services (Damage or Power Outages)
        12.3.1    Historical Trend (2018-2023)
        12.3.2    Forecast Trend (2024-2032)
    12.4    Preventive Maintenance
        12.4.1    Historical Trend (2018-2023)
        12.4.2    Forecast Trend (2024-2032)
    12.5    Decommissioning/Recycling
        12.5.1    Historical Trend (2018-2023)
        12.5.2    Forecast Trend (2024-2032)
    12.6    Others
13    North America Battery Storage Service Market by Deployment
    13.1    Onsite
        13.1.1    Historical Trend (2018-2023)
        13.1.2    Forecast Trend (2024-2032)
    13.2    Offsite
        13.2.1    Historical Trend (2018-2023)
        13.2.2    Forecast Trend (2024-2032)
14    North America Battery Storage Service Market by Battery Type
    14.1    Lithium Ion Battery
        14.1.1    Historical Trend (2018-2023)
        14.1.2    Forecast Trend (2024-2032)
    14.2    Flow Battery
        14.2.1    Historical Trend (2018-2023)
        14.2.2    Forecast Trend (2024-2032)
    14.3    Others
15    North America Battery Storage Service Market by Country
    15.1    United States of America 
        15.1.1    Historical Trend (2018-2023) 
        15.1.2    Forecast Trend (2024-2032)
        15.1.3    By Region
            15.1.3.1    New England 
            15.1.3.2    Mideast 
            15.1.3.3    Great Lakes  
            15.1.3.4    Plains 
            15.1.3.5    Southeast 
            15.1.3.6    Southwest 
            15.1.3.7    Rocky Mountain 
            15.1.3.8    Far West 
    15.2    Canada
        15.2.1    Historical Trend (2018-2023) 
        15.2.2    Forecast Trend (2024-2032)
        15.2.3    By Region
            15.2.3.1    Northern Canada 
            15.2.3.2    British Columbia 
            15.2.3.3    Alberta  
            15.2.3.4    The Prairies 
            15.2.3.5    Central Canada 
            15.2.3.6    Atlantic Canada  
16    Competitive Landscape
    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Glidepath Federal Solutions LLC
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    ZGlobal Inc
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Convergent Energy and Power
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    General Electric Company
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Stem, Inc.
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Fluence Energy, Inc.
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    OCI Solar Power LLC
            16.2.7.1    Company Overview
            16.2.7.2    Product Portfolio
            16.2.7.3    Demographic Reach and Achievements
            16.2.7.4    Certifications
        16.2.8    CODA Energy Holdings LLC
            16.2.8.1    Company Overview
            16.2.8.2    Product Portfolio
            16.2.8.3    Demographic Reach and Achievements
            16.2.8.4    Certifications
        16.2.9    Others
17    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    North America Energy Storage Service Market: Key Industry Highlights, 2018 and 2032
2.    North America Energy Storage Service Historical Market: Breakup by Technology (USD Million), 2018-2023
3.    North America Energy Storage Service Market Forecast: Breakup by Technology (USD Million), 2024-2032
4.    North America Energy Storage Service Historical Market: Breakup by Country (USD Million), 2018-2023
5.    North America Energy Storage Service Market Forecast: Breakup by Country (USD Million), 2024-2032
6.    United States Energy Storage Service Historical Market: Breakup by Technology (USD Million), 2018-2023
7.    United States Energy Storage Service Market Forecast: Breakup by Technology (USD Million), 2024-2032
8.    Canada Energy Storage Service Historical Market: Breakup by Technology (USD Million), 2018-2023
9.    Canada Energy Storage Service Market Forecast: Breakup by Technology (USD Million), 2024-2032
10.    North America Battery Storage Service Market: Key Industry Highlights, 2018 and 2032
11.    North America Battery Storage Service Historical Market: Breakup by Service Type (USD Million), 2018-2023
12.    North America Battery Storage Service Market Forecast: Breakup by Service Type (USD Million), 2024-2032
13.    North America Battery Storage Service Historical Market: Breakup by Deployment (USD Million), 2018-2023
14.    North America Battery Storage Service Market Forecast: Breakup by Deployment (USD Million), 2024-2032
15.    North America Battery Storage Service Historical Market: Breakup by Battery Type (USD Million), 2018-2023
16.    North America Battery Storage Service Market Forecast: Breakup by Battery Type (USD Million), 2024-2032
17.    North America Battery Storage Service Historical Market: Breakup by Country (USD Million), 2018-2023
18.    North America Battery Storage Service Market Forecast: Breakup by Country (USD Million), 2024-2032
19.    North America Battery Storage Service Market Structure

Key Questions Answered in the Report

In 2023, the market value was nearly USD 209.84 million.

The market is projected to grow at a CAGR of 13.2% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 893.11 million by 2032.

The major market drivers include government investments in renewable energy and the growing popularity of lithium-ion batteries.

The key trends include the growing adoption of renewable energy and technological advancements and innovations.

The different types of batteries include lithium-ion battery and flow battery, among others.

Major deployments of battery storage services include onsite and offsite.

The major players in the market include Glidepath Federal Solutions LLC, ZGlobal Inc, Convergent Energy and Power, General Electric Company, Stem, Inc., Fluence Energy, Inc., OCI Solar Power LLC, and CODA Energy Holdings LLC, among others.

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