Top 10 Battery Energy Storage Companies Pioneering a Sustainable Tomorrow

Battery energy storage is transforming the energy landscape, offering a sustainable and effective solution for storing electricity. It is a groundbreaking energy storage solution that stores energy utilizing numerous battery technologies. As the world shifts toward renewable energy sources and hunts for addressing grid stability difficulties, it is crucial to allow the deployment of renewable energy, handling peak demand, and guarantee a consistent power supply. These storage systems are at the forefront of the renewable energy revolution, offering efficient solutions for managing power demand, improving grid stability, and encouraging the effective use of renewable resources. Increased preference for renewable energy sources and rising need for grid stabilization are fostering market expansion.

According to a report by Fortune Business Insights™, the market size for battery energy storage is valued at USD 25.02 billion in 2024 and is expected to reach 114.05 billion by 2032 with a CAGR of 19.58% from 2025 to 2032. The market is set to reach a valuation of USD 32.63 billion in 2025.

Fortune Business Insights™ Profiles Top 10 Battery Energy Storage Companies

1. GE

Founded in 1892, General Electric Company is an American multinational corporation. Based in Boston, General Electric Company uses 125 years of technological excellence to deliver smart, safe, and sustainable solutions globally.

• In July 2024, Varco Energy partnered with GE Vernova for its 47.5 MW Sambar Power battery storage project in Cornwall. This project intends to assist in the U.K.'s net zero goals. The system will utilize GE Vernova’s FLEXRESERVOIR, such as FLEXIQ Controls, FLEXINVERTER central inverters, and Battery DC-Blocks to enhance energy balancing.

2. ABB

A Switzerland-based technology trailblazer, ABB was formed in 1988. It works closely with transportation, utility, and infrastructure, heavy electrical equipment, power, and automation technology areas. It offers industrial automation, motion, electrification, and robotics solutions.

• In June 2023, ABB introduced a 50 MW battery energy storage system (BESS) for Universal Power Solutions Inc (UPSI) in Limay, Bataan, Philippines. This system is a part of a larger agreement for a 240 MW BESS to enhance grid resilience in Luzon and Visayas, with the Limay site being started in March 2023.

3. Siemens

Siemens is a well-known producer of cost-effective and resource-saving energy storage solutions, which can be integrated with different renewable technologies for better applicability. It emphasizes electrification, automation, and digitization and offers engineering solutions in medical diagnosis and other industries.

• In May 2024, Siemens launched a 20 MW Grid-Scale Battery Energy Storage System (BESS) at the Amaury Substation, Mauritius. This effort promoted the government's strategy to boost the renewable energy adoption in the electricity mix to 60% by 2030.

4. Hitachi Energy

Headquartered in Switzerland, Hitachi Energy supplies advanced solutions and services to customers in the utility, industry, and infrastructure areas. It deploys cutting-edge technologies and digital transformation to drive the energy transition toward a carbon-free energy future.

• In November 2023, a top energy storage supplier in North America, Powin LLC teamed up with Hitachi Energy to increase its energy storage business. This partnership also gives Hitachi Energy most of the ownership of EKS Energy, an expert in power electronics and energy management for renewable and storage projects.

5. LG Energy Solution

Established in 2020, LG Energy Solution is one of the top battery producers, assisting the green energy transition. It creates innovative batteries for electric vehicles, hybrids, and energy storage systems (ESS), along with battery components such as cells, modules, and management systems. LG Energy Solution plays an important part in pushing sustainable energy solutions.

• In May 2024, LG Energy Solution, the world’s third-leading battery manufacturer made an agreement to offer 4.8 GWh of energy storage system (ESS) batteries to Hanwha QCells, a U.S-based organization. This supply will continue until October 1, 2026, and the batteries will go into Hanwha QCells' plant in La Paz County, Arizona.

6. Black & Veatch

Based in the U.S., Black & Veatch (BV) is a privately owned engineering, procurement, consulting, and construction group. It provides a range of services & solutions to complete long-lasting infrastructures. BV works with Diode Ventures, Black & Veatch Construction, Inc., Atonix Digital, and Overland Contracting Inc., serving transportation, commercial, water, oil & gas, and power industries.

• In November 2022, Amberside Energy, the U.K. developer, enlisted Black & Veatch, a top engineering and construction company, to support the development of a 2GW solar and battery storage venture.

7. Total Energies

Founded in 1924, TotalEnergies is a French multinational energy company, operates across the entire energy spectrum, from oil and gas renewables, electricity, biofuels, and green gases. With 105,000 employees and operations in over 130 countries, the company concentrates on offering energy that is reasonable, clean, consistent, and accessible. 

• In January 2024, TotalEnergies acquired Kyon Energy, a top battery storage developer, for USD 98 million plus performance bonuses. Founded in 2021, Kyon Energy has 770 MW of portfolio: 120 MW in operation, 350 MW under construction, and 300 MW ready to build.

8. Narada Power

Established in China, Zhejiang Narada Power Source Co., Ltd. is an energy storage technology expert. It offers lithium battery products, system integration, and services for new and industrial energy storage. Narada handles the complete energy storage value chain, from production to recycling, generating a whole industry ecosystem. As a national digital enterprise, it holds important technology patents and has contributed to numerous industry standards. Narada has been known as one of China’s top-100 light industry and electronic information players for several years.

• In December 2023, Namibia Power Corporation (NamPower) made an agreement with Narada Power and Shandong Electrical for the country’s first grid-scale battery energy storage system (BESS). The 54MW/54MWh system will be connected at the Omburu substation in Namibia’s Erongo region to address power shortages, stabilize photovoltaic power generation, and ensure better electricity quality for residents.

9. VRB Energy

Based in Canada, VRB Energy has created the world’s most consistent, long-lasting vanadium flow battery, with over 500 megawatt-hours installed or under construction globally and over 1 million hours of field-tested performance. It is mainly owned by Ivanhoe Electric, a U.S.-based firm attentive to advancing urbanization and renewable energy through critical minerals.

• In July 2021, VRB Energy made a USD 24 million investment from BCPG PLC to expand its global energy storage business. The partnership will accelerate VRB Energy’s Gen3 VRB-ESS® product deployment and improve vanadium refinement to support growing international energy needs.

10. CATL

Founded in 2011, CATL is a top global battery producer concentrating on creating advanced energy storage solutions. The company’s solutions optimize energy output, minimize waste, and balance demand to provide consistent power delivery and improved grid reliability across industrial, commercial, and residential sectors.

• In March 2023, CATL signed a major supply agreement with HGP Storage for over 450 MWh of BESS. This partnership marks the beginning of a strategic alliance aimed at supporting up to 5 GWh of energy initiatives in Texas.

How Energy Independence Paves the Way for Battery Energy Storage Companies?

Battery energy storage is reshaping how power is used and stored, paving the way for greater energy independence. For homes and businesses with solar panels, these systems allow excess daytime energy to be stored and used at night, reducing reliance on the grid and cutting energy costs. This transition helps lower emissions and improve self-sufficiency, which is especially valuable during outages or high-demand periods. As the world moves forward, electrification and sustainable energy, battery energy storage stands at the center of a cleaner, more resilient, and independent energy future.