Please Wait.....
Report
Spain Energy Storage Market Growth Analysis - Market Size, Share, Forecast Trends and Outlook Report (2025-2034)
Market Report I 2025-06-28 I 105 Pages I EMR Inc.
The Spain energy storage market size reached around 1.80 Gigawatt in 2024. The market is projected to grow at a CAGR of 9.50% between 2025 and 2034 to reach nearly 4.46 Gigawatt by 2034. The market growth can be attributed to the rising adoption of renewable energy sources for electricity production and technological advancements in storage solutions. Moreover, the rising cost-effectiveness of energy storage solutions for households and businesses is expected to accelerate their widespread adoption, thereby driving market growth in the coming years.
Spain Energy Storage Market Report Summary
Description
Value
Base Year
Gigawatt
2024
Historical period
Gigawatt
2018-2024
Forecast Period
Gigawatt
2025-2034
Market Size 2024
Gigawatt
1.80
Market Size 2034
Gigawatt
4.46
CAGR 2018-2024
Percentage
XX%
CAGR 2025-2034
Percentage
9.50%
CAGR 2025-2034 - Market by Region
Valencian Community
10.9%
CAGR 2025-2034 - Market by Region
Andalusia
9.0%
CAGR 2025-2034 - Market by Type
Batteries
13.2%
CAGR 2025-2034 - Market by Application
Residential
11.2%
Market Share by Region 2024
Madrid
20.3%
Spain Energy Storage Market Growth
The increasing demand for energy storage solutions is being driven by the need for ensuring uninterrupted power supply amid the transition towards renewable energy resources. This is expected to enhance flexibility, improve grid reliability, and support the expansion of renewable energy production. As per Spain's National Integrated Energy and Climate Plan, the government is expected to establish 120 GW of additional renewable energy production capacity, which can potentially reach 157 GW by 2030.
As per the Spain energy storage market analysis, wind (50,258 MW) and solar PV (36,882 MW) are expected to dominate renewable energy production, followed by solar thermal (7,303 MW), hydro (14,609 MW), and biomass (1,677 MW) by 2030. The nation's dependence on coal and nuclear power is expected to drop to less than 1300 MW and 3181 MW respectively. This is expected to spur the Spain energy storage market expansion.
Solar PV has emerged as the cheapest electricity source, which cannot be harnessed properly without storage expansion plans that meet the increasing demand for generation and consumption of electricity. Energy storage systems need a supportive environment for adequate financing and implementation, which is expected to facilitate market growth in the coming years.
Key Trends and Developments
Improving battery storage capacities; increasing electric vehicle sales; surging battery energy density; and rising focus on cost reduction are the major factors favouring the Spain energy storage market growth.
September 2024
In its latest update to the National Energy and Climate Plan, the government of Spain increased its energy storage target to 22.5 GW by 2030. It also revised the target for energy storage deployment with 9.2GW expected to be installed in 2025 and around 19GW in 2030. This reflects Spain's robust commitment to accelerating its transition towards green energy sources.
May 2024
As per the UNEF, nearly 495 MWh of behind-the-meter energy storage capacity was successfully installed across Spain in 2023, with the residential sector accounting for 75% of the total number of installations. This indicates that burgeoning consumer demand for sustainability and energy independence is expected to drive the Spain energy storage market value in the long run.
January 2024
Iberdrola announced its decision to install 6 battery energy storage systems across Spain, with a total capacity of 150 MW. Located in Extremadura, Castilla y Leon, Andalusia, and Castilla La Mancha, these systems are expected to increase the market revenue and ensure the stability of the national grid network.
December 2022
The Spanish government announced a new scheme for hybrid energy storage projects that rely on renewable energy sources for electricity production. This funding scheme belongs to its Recovery, Transformation and Resilience Plan (RRTP), and can finance 5 storage projects with a minimum capacity of 600 MW. The maximum funding for a single project/developer is around EUR 15 million.
Improving battery storage capacities
An increasing number of developers are focusing on enhancing the storage capacities of batteries, which is favourably shaping the Spain energy storage market dynamics. For instance, the use of innovative materials like lithium-sulphur batteries can substantially increase battery density and enhance energy storage efficiency. Moreover, the use of battery management systems can enable companies to optimise battery performance and extend battery lifespan, thereby leading to the market growth.
Increasing electric vehicle sales
In 2023, electric vehicle sales recorded a year-on-year growth of 49% in Spain. This is expected to increase the demand for lithium-ion batteries for automotive production in the upcoming years.
Advancements in battery energy density
Rising battery energy densities have led to the shrinkage of the system's footprints. However, the rising heat loads of batteries have increased the demand for thermal management systems. Thus, battery makers are turning to liquid-cooled battery modules to enhance their longevity and efficiency.
Rising focus on cost reduction
Due to improved manufacturing efficiencies, increasing production volumes, and many government incentives, energy storage batteries are expected to become increasingly cost-effective, thereby leading to the market growth. As affordability improves, its adoption by residential and commercial end users is expected to surge tremendously. Moreover, government incentives like tax breaks and subsidies are expected to attract a large amount of investments into the industry, thereby facilitating market growth.
Spain Energy Storage Market Trends
In 2022, Spain recorded a year-on-year growth of 21% in electric vehicle sales, which amounted to 100,425 units. While the sale of fully electric vehicles surged by around 32% (to 52,224), the sale of hybrid vehicles rose by 11% year-on-year to 48,201. This has led to an increased demand for lithium-ion batteries, thereby creating a favourable Spain energy storage market outlook. In 2022, 325,000 individuals owned an EV in Spain, and with anticipated growth of financial incentives for the automotive industry, the market is further expected to grow significantly.
Spain has a cumulative water storage capacity of around 61,000 hectometers cubed, of which only 50% is being utilised for electricity production. Based on Spain energy storage market analysis, Spain currently has an installed pure pumping capacity of around 3,396 MW and a hybrid capacity of 2,495 MW. By 2030, hydro energy storage companies are expected to attract an investment of nearly EUR 40 billion to enable the government to protect the nation's energy security and reduce energy wastage. Thus, the expansion of hydro storage energy systems is expected to play a key role in driving market development.
Spain Energy Storage Industry Segmentation
The EMR's report titled "Spain Energy Storage Market Report and Forecast 2025-2034" offers a detailed analysis of the market based on the following segments:
Breakup by Type
- Batteries
- Pumped-storage Hydroelectricity (PSH)
- Thermal Energy Storage (TES)
- Flywheel Energy Storage (FES)
- Others
Breakup by Application
- Residential
- Commercial and Industrial
Breakup by Region
- Andalusia
- Catalonia
- Madrid
- Valencian Community
- Rest of Spain
Spain Energy Storage Market Share
Based on application, the Spain energy storage market is segmented into residential and commercial and industrial. The use of energy storage solutions in residential applications is projected to grow at a CAGR of 11.2% during the forecast period of 2025-2034 due to the growing adoption of solar energy in the residential sector. Declining battery costs and favourable government initiatives encouraging homeowners to reduce reliance on the grid are further boosting the segment's growth. Meanwhile, the commercial and industrial sectors adopt energy storage solutions to reduce demand charges, lower electricity bills, and optimise energy usage.
CAGR 2025-2034 - Market by
Application
Residential
11.2%
Commercial and Industrial
XX%
Leading Companies in the Spain Energy Storage Market
Major players are increasing the production of PSH solutions, which is expected to increase the Spain energy storage market value in the coming years. They are also adopting solid-state and lithium-ion batteries to improve energy storage efficiency and collaborating with renewable energy companies to ensure a reliable electricity supply. Moreover, by bolstering their investments in research and development activities, they are developing scalable and cost-effective energy storage solutions, thereby driving the market growth.
BYD Co. Ltd.
BYD Co. Ltd. was founded in 1995 and is headquartered in Guangdong, China. It specialises in producing energy storage solutions, automobiles, IT components, and LED lighting solutions, along with a wide range of other products.
Iberdrola Espana
Iberdrola Espana was founded in 1901 and is headquartered in Bizkaia, Spain. It is one of the world's biggest wind power producers.
Panasonic Corporation
Panasonic Corporation was founded in 1918 and is headquartered in Osaka, Japan. It specialises in creating home appliances, business solutions, automobiles, and energy storage systems, among other engineering solutions.
Cegasa Energia S.L.U.
Cegasa Energia S.L.U. was founded in 1934 and is headquartered in Araba, Spain. It specialises in manufacturing industrial batteries, lithium salts and associated catalysts, and alkaline compounds, among other solutions.
Other players included in the Spain energy storage market report are LG Energy Solution Ltd., S.A.U, Gransolar Group Company (E22 Energy Storage Solutions), BayWa r.e. Espana S.L.U., and CIDETEC, among others.
1 Executive Summary
1.1 Market Size 2024-2025
1.2 Market Growth 2025(F)-2034(F)
1.3 Key Demand Drivers
1.4 Key Players and Competitive Structure
1.5 Industry Best Practices
1.6 Recent Trends and Developments
1.7 Industry Outlook
2 Market Overview and Stakeholder Insights
2.1 Market Trends
2.2 Key Verticals
2.3 Key Regions
2.4 Supplier Power
2.5 Buyer Power
2.6 Key Market Opportunities and Risks
2.7 Key Initiatives by Stakeholders
3 Economic Summary
3.1 GDP Outlook
3.2 GDP Per Capita Growth
3.3 Inflation Trends
3.4 Democracy Index
3.5 Gross Public Debt Ratios
3.6 Balance of Payment (BoP) Position
3.7 Population Outlook
3.8 Urbanisation Trends
4 Country Risk Profiles
4.1 Country Risk
4.2 Business Climate
5 Europe Energy Storage Market Overview
5.1 Key Industry Highlights
5.2 Europe Energy Storage Historical Market (2018-2024)
5.3 Europe Energy Storage Market Forecast (2025-2034)
6 Spain Energy Storage Market Overview
6.1 Key Industry Highlights
6.2 Spain Energy Storage Historical Market (2018-2024)
6.3 Spain Energy Storage Market Forecast (2025-2034)
7 Spain Energy Storage Market by Type
7.1 Batteries
7.1.1 Historical Trend (2018-2024)
7.1.2 Forecast Trend (2025-2034)
7.2 Pumped-storage Hydroelectricity (PSH)
7.2.1 Historical Trend (2018-2024)
7.2.2 Forecast Trend (2025-2034)
7.3 Thermal Energy Storage (TES)
7.3.1 Historical Trend (2018-2024)
7.3.2 Forecast Trend (2025-2034)
7.4 Flywheel Energy Storage (FES)
7.4.1 Historical Trend (2018-2024)
7.4.2 Forecast Trend (2025-2034)
7.5 Others
8 Spain Energy Storage Market by Application
8.1 Residential
8.1.1 Historical Trend (2018-2024)
8.1.2 Forecast Trend (2025-2034)
8.2 Commercial and Industrial
8.2.1 Historical Trend (2018-2024)
8.2.2 Forecast Trend (2025-2034)
9 Spain Energy Storage Market by Region
9.1 Andalusia
9.1.1 Historical Trend (2018-2024)
9.1.2 Forecast Trend (2025-2034)
9.2 Catalonia
9.2.1 Historical Trend (2018-2024)
9.2.2 Forecast Trend (2025-2034)
9.3 Madrid
9.3.1 Historical Trend (2018-2024)
9.3.2 Forecast Trend (2025-2034)
9.4 Valencian Community
9.4.1 Historical Trend (2018-2024)
9.4.2 Forecast Trend (2025-2034)
9.5 Rest of Spain
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter's Five Forces Analysis
10.2.1 Supplier's Power
10.2.2 Buyer's Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators of Demand
10.4 Key Indicators of Price
11 Competitive Landscape
11.1 Supplier Selection
11.2 Key Global Players
11.3 Key Regional Players
11.4 Key Player Strategies
11.5 Company Profile
11.5.1 BYD Co. Ltd.
11.5.1.1 Company Overview
11.5.1.2 Product Portfolio
11.5.1.3 Demographic Reach and Achievements
11.5.1.4 Certifications
11.5.2 LG Energy Solution Ltd.
11.5.2.1 Company Overview
11.5.2.2 Product Portfolio
11.5.2.3 Demographic Reach and Achievements
11.5.2.4 Certifications
11.5.3 Iberdrola Espana, S.A.U
11.5.3.1 Company Overview
11.5.3.2 Product Portfolio
11.5.3.3 Demographic Reach and Achievements
11.5.3.4 Certifications
11.5.4 Gransolar Group Company (E22 Energy Storage Solutions)
11.5.4.1 Company Overview
11.5.4.2 Product Portfolio
11.5.4.3 Demographic Reach and Achievements
11.5.4.4 Certifications
11.5.5 Cegasa Energia S.L.U.
11.5.5.1 Company Overview
11.5.5.2 Product Portfolio
11.5.5.3 Demographic Reach and Achievements
11.5.5.4 Certifications
11.5.6 BayWa r.e. Espana S.L.U.
11.5.6.1 Company Overview
11.5.6.2 Product Portfolio
11.5.6.3 Demographic Reach and Achievements
11.5.6.4 Certifications
11.5.7 CIDETEC
11.5.7.1 Company Overview
11.5.7.2 Product Portfolio
11.5.7.3 Demographic Reach and Achievements
11.5.7.4 Certifications
11.5.8 Panasonic Corporation
11.5.8.1 Company Overview
11.5.8.2 Product Portfolio
11.5.8.3 Demographic Reach and Achievements
11.5.8.4 Certifications
11.5.9 Others
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security