The energy storage market is projected to grow at a CAGR of 11.69% during the forecast period, reaching a total market size of US$39.859 billion in 2024 from US$20.535 billion in 2018. Expanding worldwide power consumption, substantial public-private investment, improving energy stockpiling financial matters, quick industrialization in the developing nations, expanded use of energy storage systems in transportation, and different energy storage schemes.