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Report Overview
The North America battery storage service market size reached a value of nearly USD 209.84 Million in 2024. The market is projected to grow at a CAGR of 13.20% between 2025 and 2034 to reach around USD 725.02 Million by 2034.
2024
Base Year
2018-2024
Historical Period
2025-2034
Forecast Period
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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.
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Altairnano, Ecoult, and General Electric Company are a few of the major companies in the market.
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The rising popularity of renewable energy and the decreasing cost of battery technology aid the market for battery storage services.
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.
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
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2024, the market value was nearly USD 209.84 Million.
The market is projected to grow at a CAGR of 13.20% between 2025 and 2034.
The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach USD 893.11 million by 2034.
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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