Lux Predicts Energy Storage Market Will Hit $500 Billion by 2035

Increased electric mobility demand drives expected 10× revenue growth

The total energy storage market is expected to grow to $546 billion in annual revenue by 2035, according to a report released by Lux Research. 

The report, “Global Energy Storage Market 2019,” estimates that the three main drivers of energy storage – mobility applications, electronic devices, and stationary storage – will reach an annual combined deployment level of 3,046 GWh over the next 15 years, up from the current 164 GWh, with mobility applications making up the lion’s share of the growth.  

 

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