European battery storage fleet expected to grow 45% year-over-year to 16 GW in 2025, WoodMac says
Image: WoodMac
From ESS News
Europe’s BESS market is poised for a major jump in yearly additions, with deployment hitting 11 GW in 2024 and projected to surge 45% to 16 GW in 2025, according to Wood Mackenzie.
Moreover, the research and consultancy firm expects European BESS deployment to grow at a 9% compound annual growth rate over the next ten years, reaching 35 GW by 2034.
Within this expanding European landscape, Germany emerges as the rising star across all segments (utility, C&I, residential). The country leads European deployment with over 3.5 GW expected this year, doubling to 7 GW by 2034. However, despite strong current fundamentals, the German market faces revenue decline as increasing competition cannibalises price volatility.