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The greatest increase is anticipated in APAC.

The worldwide market for energy storage solutions that operate independently of the grid is expected to grow to $18.31 billion by 2029, expanding at a yearly rate of 13.4%.

As per The Business Research Company (TBRC), this expansion is linked to elements like higher funding for the development and manufacturing of battery energy storage systems (BESS) technology, the rising need for backup power, the increasing use of microgrids, and the growing need for reliable and affordable energy options in isolated and rural areas.

Increased consciousness and interest in energy independence, along with the rising demand from home users, drive this expansion.

The market hit $9.83 billion in 2024, with North America being the top region. However, during the projection period, the Asia-Pacific region is expected to experience the fastest growth rate.

“The anticipated expansion of the off-grid energy storage systems market is set to be driven by an increasing use of renewable energy sources. The natural regeneration of renewable energy sources like solar, wind, and hydropower is among the elements contributing to their growing acceptance,” the company stated.

Additional elements consist of social influence, distributed energy generation, company pledges, understanding of public health, and efforts to reduce climate change.

Important stakeholders are also focusing on developing advanced technologies, such as eco-friendly backup power systems, to enhance energy independence, increase system efficiency, and provide reliable electricity in isolated and underserved areas.

“Such green backup power utilities offer a strong and reliable alternative to traditional power systems, employing renewable resources like solar and wind in combination with innovative energy storage techniques,” TBRC stated.