Visualizing the Top 20 Countries by Battery Storage Capacity

Over the past three years, the Battery Energy Storage System (BESS) market has been the fastest-growing segment of global battery demand. These systems store electricity using batteries, helping stabilize the grid, store renewable energy, and provide backup power.

In 2024, the market grew by 52%, compared to 25% growth in the EV battery market. Among the top companies in the BESS market are technology giants such as Samsung, LG, BYD, Panasonic, and Tesla.

This graphic highlights the top 20 BESS markets by current and planned grid capacity in gigawatt hour (GWh), based on exclusive data from Rho Motion as of February 2025.

Chinese Dominance

As with the EV market, China currently dominates global BESS deployments, accounting for approximately two-thirds of installed capacity. However, other markets are expected to grow significantly in the coming years, driven by low-cost lithium-ion cells and the expansion of renewable energy capacity.

Currently, China has 215.5 GWh of installed capacity and an ambitious 505.6 GWh project pipeline. The U.S. follows with 82.1 GWh installed and 162.5 GWh planned.

Canada is projected to be the fastest-growing market through 2027, with its cumulative capacity hitting 18.3 GWh—a significant increase from its current 0.3 GWh capacity.

Countries such as Australia (97.3 GWh pipeline), Saudi Arabia (31.1 GWh), and Chile (37.2 GWh) have relatively small current installations but plan substantial expansions. Within Europe, the UK leads with 7.5 GWh of installed capacity and 48.7 GWh in the pipeline, while Italy, Germany, France, and Belgium show steady but more modest growth.

Despite being technological leaders, Japan (4 GWh pipeline) and South Korea (0.3 GWh) have relatively low planned BESS expansions.

According to Rho Motion, China will remain the dominant player in 2027, but its share of the total market is expected to decline to just over 50% based on the current project pipeline.

While the BESS market is expanding, challenges remain, including grid connection bottlenecks and the development of revenue streams in emerging markets.

Visualizing Chinese EV Market Share Overseas

China is the undisputed global powerhouse of the EV industry, leading in both domestic sales and overall production. Chinese brands were responsible for 62% of EV global sales in 2024.

This graphic shows the presence of Chinese electric vehicles in other countries, considering total EV sales and market share.  This data comes exclusively from Rho Motion’s EV Sales Quarterly Outlook, as of 2024.

Affordable EVs

As the global EV market has expanded, in 2024, over 17 million units were sold. Chinese manufacturers have aggressively pursued international opportunities, offering affordable vehicles that often undercut local competitors.

However, market access has varied significantly across regions. The U.S. and Canada are the only markets where Chinese-made EVs have no presence. The U.S. has taken a firm stance against Chinese EVs, imposing a 100% tariff in 2024, and more recently enacting laws banning Chinese technology in EVs on U.S. roads. Given its deep economic ties with the U.S., Canada followed suit with identical tariffs.

Europe, by contrast, has been more open to Chinese EVs but remains cautious about protecting its domestic automotive industry. In 2024, following an anti-subsidy investigation, the EU introduced variable BEV import tariffs on specific Chinese automakers of up to an additional 35.3%.

Meanwhile, in countries without a strong domestic auto industry, Chinese EVs have rapidly gained market share. This is especially evident in neighboring Asian countries and in South and Central America, where Chinese manufacturers are expanding aggressively by beginning to build production capacity and capitalizing on the demand for affordable electric vehicles.