Mobile Energy Storage Market

Mobile Energy Storage Market Overview

The global Mobile Energy Storage Market size was valued at USD 5.73 billion in 2023 and is predicted to reach USD 15.46 billion by 2030 with a CAGR of 15.2% from 2024-2030. Mobile energy storage industry refers to the sector focused on the development, manufacturing, and deployment of portable and compact energy storage solutions primarily designed for industrial applications. These solutions typically involve the use of advanced battery technologies such as lithium-iron-phosphate (LFP) batteries and energy management systems to store and deliver power on the go.

These mobile energy storages also known as industrial power banks are equipped with built-in handles or come with carrying cases. These features make it convenient for users to transport the energy storage units from one location to another. Key components of the mobile energy storage industry include rechargeable batteries, power electronics, thermal management systems, and smart control systems. The primary goal is to provide efficient, reliable, and portable energy solutions for a variety of applications, such as electric vehicles, portable industrial tools, renewable energy systems, and emergency backup power.

Market Dynamics and Trends

Rising demand for portable power solutions for industrial activities such as fieldwork, construction, and agricultural practices is further propelling the market expansion. Recently, Advent Technologies launched a portable clean power solution called SereneP, which is designed for construction and electric vehicle (EV) charging applications. This industrial power bank offers flexibility and can be configured to exact power needs ranging from 10kVA to 300kVA. It combines a battery and a fuel cell, operating seamlessly on liquid green fuels such as methanol, methanol, or emethanol.

Also, the growing adoption of electric vehicles (EVs) globally is creating the demand for efficient and reliable charging infrastructures which in turn drives the overall market growth. According to the International Energy Agency (IEA), the global production and sale of EVs is projected to surpass almost 16 million in 2025 as compared to 7.3 million in 2022. This growing number significantly drives the demand for more reliable charging solutions for these EVs, which further boosts the need for portable industrial energy storage systems.

Moreover, ongoing advancements in battery technology such as solid-state batteries further contribute to the development of more efficient and cost-effective industrial power banks. Recently, BMW and Solid Power partnered to develop solid-state battery technology to accelerate the industrialization of solid-state battery technology. The partnership reflects BMW's commitment to advancing next-generation battery technology, with a focus on solid-state batteries, which offer advantages such as higher energy capacity and lower risk of fire compared to traditional lithium-ion batteries.

However, the high upfront and operational costs associated with mobile energy storage systems can be a significant restraining factor for the growth of the market are impeding the overall market growth. On the contrary, integration of graphene-based batteries which offer higher conductivity, faster charging times, and longer cycle life is expected to create ample opportunity growth for the industrial power bank market. For example, PETRONAS Technology Ventures Sdn Bhd's ProCharge+, a graphene-based solution for Lithium-ion batteries, meets the demand for more durable and compact energy storage in electric vehicles, aligning with the industry's shift towards electrification.

Market Segmentation and Scope of Study

The mobile energy storage market report is divided on the basis of battery type, power output, industry vertical, end user and region. On the basis of battery type, the market is categorized into lithium-ion, lead-acid, and sodium-based. On the basis of power output, the market is classified into less than 100 kW, 100-500 kW, and up to 1000kW. On the basis of end user, the market is bifurcated into industrial and commercial. The industrial segment is again divided into agriculture, construction, manufacturing, oil and gas, telecommunication, mining and other industry verticals. Regional breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

Asia-Pacific holds the dominating share of the mobile energy storage market at present and is expected to continue its dominance throughout the forecast period. This is attributed to factors such as the increasing use of portable electronic devices and tools in various power grids among developed countries such as the China, Japan, and Taiwan. In recent years, GE Vernova's Solar & Storage Solutions business has signed a Memorandum of Understanding (MoU) with Fortune Electric to supply Battery Energy Storage System (BESS) solutions in Taiwan. This partnership aims to meet local content requirements in Taiwan and contribute to the activation of the country's energy storage sector, enabling the integration of more clean energy into the grid.

Also, the advent of sodium-ion battery-based energy storage solutions for better safety and compatibility with large energy storage projects further contribute to the growth of industrial power bank market across the region. In recent news, the world's first grid-scale sodium-ion battery project has been launched in China, marking a significant development in the field of energy storage and renewable energy infrastructure. This battery energy storage system (BESS) project uses sodium-ion technology with a capacity of 5MW/10MWh. On the other hand, North America is considered fastest growing region in the mobile energy storage industry owing to the growing number of electric vehicles (EVs) which require portable charging solutions for medium and heavy-duty vehicles among developed countries such as the U.S. and Canada.

In recent years, Cummins, a global power technology provider, and Heliox, a supplier of fast-charging solutions, have partnered to provide electric vehicle (EV) charging solutions for fleets in North America. The collaboration introduced two new fast-charging solutions in mobile and stationary DC chargers that are designed for various applications, including transit buses and medium- and heavy-duty vehicles. Also, rising adoption of portable energy storage systems in various industries such as construction, energy and power grids is creating certain number of opportunities to increase the revenue is driving the market growth. 

For instance, in March 2023, Caterpillar, a construction and industrial equipment manufacturer, launched an integrated energy storage system (ESS) solution called the Cat ESS suite of battery storage products. The suite includes scalable and modular designs for a range of energy system applications including generator set transient assist, grid integration and support, shifting of energy from time of generation to time of use, power stabilisation, power factor correction, and renewable energy integration.

Competitive Landscape

Various players in the mobile energy storage industry includes POWR2, Atlas Copco, Electric Motorsport, Inc., Kore Power, Inc., Beny, AceOn Group, Chint Group, Delta Electronics, Next Generation Energy Tech Co., Alpha ESS Co., Ltd and others. These market players are opting various strategies such as product launch to maintain their dominance in the global market.

For instance, in January 2024, KORE Power launched two all-in-one DC Block products for the energy storage sector, a 750 kWh LFP DC Block and a 1.3 MWh NMC DC Block. These are scalable battery energy storage systems (BESS) that can be configured for a variety of applications, delivered to site fully assembled. Also, in August 2023, Delta introduced an outdoor LFP (lithium-iron-phosphate) battery system specifically designed for megawatt (MW) level energy storage applications. This battery system aims to address the urgent needs for grid ancillary services, solar plus storage, and backup power assurance.

Additionally, in July 2023, Atlas Copco Power and Flow launched five new models of its Lithium-ion Energy Storage Systems (ESS). These systems are designed with sustainability in mind and are suitable for various applications, including noise-sensitive environments such as events, construction sites, telecom, manufacturing, mining, and oil and gas. Moreover, in July 2023, POWR2 developed a new product called POWRSYNC, which enables the seamless operation of POWRBANK batteries in parallel. The POWRSYNC device creates a parallel battery system to harness the combined power of multiple POWR2 POWRBANKs, allowing users to connect up to four POWRBANK batteries, whether they are of the same model or different capacities.

Key Benefits

• The report provides quantitative analysis and estimations of the mobile energy storage market from 2024 to 2030, which assists in identifying the prevailing market opportunities.

• The study comprises a deep-dive analysis of the mobile energy storage market including the current and future trends to depict prevalent investment pockets in the market.

• Information related to key drivers, restraints, and opportunities and their impact on the mobile energy storage market is provided in the report.

• Competitive analysis of the players, along with their market share is provided in the report.

• SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of roles of stakeholders.

Mobile Energy Storage Market Key Segments

By Battery Type

• Lithium-ion

• Lead-acid

• Sodium-based

By Power Output

• Less than 100 kW

• 100-500 kW

• Up to 1000kW

By End User

• Industrial

  • Agriculture

  • Construction

  • Manufacturing

  • Oil and Gas

  • Telecommunication

  • Mining

  • Other Industries

• Commercial

By Region

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France        

  • Italy        

  • Spain        

  • Denmark        

  • Netherlands        

  • Finland        

  • Sweden

  • Norway        

  • Russia        

  • Rest of Europe

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia Pacific

• RoW

  • Latin America

  • Middle East

  • Africa

Key Players

• POWR2

• Atlas Copco

• Electric Motorsport, Inc.

• Kore Power, Inc.

• Beny

• AceOn Group

• Chint Group

• Delta Electronics

• Next Generation Energy Tech Co.

• Alpha ESS Co., Ltd.

REPORT SCOPE AND SEGMENTATION:

Parameters	Details
Market Size in 2023	USD 5.73 Billion
Revenue Forecast in 2030	USD 15.46 Billion
Growth Rate	CAGR of 15.2% from 2024 to 2030
Analysis Period	2023–2030
Base Year Considered	2023
Forecast Period	2024–2030
Market Size Estimation	Billion (USD)
Growth Factors	Rising demand for portable power solutions for industrial activities. The growing adoption of electric vehicles (EVs) globally is creating the demand for efficient and reliable charging infrastructures. Advancements in battery technology such as DC fast charging, sodium-ion and solid-state batteries.
Countries Covered	28
Companies Profiled	10
Market Share	Available for 10 companies
Customization Scope	Free customization (equivalent to up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.