Asia’s energy storage market is booming, driven by rapid adoption of renewables such as solar, wind, offshore wind and hydro. Battery energy storage systems (BESS), pumped hydro energy storage (PHES) and smart grid technologies are increasingly in demand across the region. The Asia Pacific energy storage market is predicted to exceed USD 2 trillion by 2034, up from USD 300 billion in 2024. Countries including China, India, South Korea, Thailand, Indonesia and the Philippines are actively investing, creating opportunities for foreign enterprises. Challenges remain, including tariffs, regulatory variations and geopolitical uncertainty, but the potential for growth is immense. Early market entry allows investors to leverage incentives, develop local partnerships and position themselves for long-term success. Subscribe to Asian Insiders for expert insights on Asia’s biggest opportunities!
