Real-Time Industrial Classifications

UK Energy Storage Industry

Discover the UK’s Energy Storage industry and the companies designing and producing innovative technologies to store electricity. View company data, industry trends, market size, growth stats, financials and download our free sector report today.

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What is Energy Storage?

Energy Storage is the capture of energy to be stored and used at a later date. There are many forms of Energy Storage and different practices used today including hydrogen, thermal, mechanical and battery storage.

With a focus on renewable energy and the modernisation of electric grids, the UK Energy Storage industry is thriving, with companies developing new innovative technologies and methods to store electricity or heat.

Energy Storage sector summary

Key information you should know about the Energy Storage sector from our AI-driven platform of over 5 million companies:

Energy Storage has turnover of £29.35bn, meaning it is our 31st largest RTIC, and our 40th fastest growing sector.
The Energy Storage sector has not received additional investor attention in recent years and the amount of venture capital funding is not increasing as fast as our other emerging economy sectors.
On average the roles advertised in this sector are 14.82% lower than the UK’s average salary.

2,488

COMPANIES CONSIDERED

£29.3bn

TOTAL TURNOVER

36,237

TOTAL EMPLOYEES

£3.5bn

TOTAL INVESTMENT FUNDING

£323.4m

TOTAL INNOVATE UK GRANT FUNDING

4.2%

AVERAGE COMPANY GROWTH PER YEAR

Energy Storage verticals

Our Energy Storage RTIC is made up of 5 individual industry verticals, including verticals such as Batteries, Hydrogen, Mechanical. You can find out more about the verticals by buying a report, visualising the sector on our platform, or by downloading the data.

Sector Code Description Records
RTIC0013 Energy Storage 2433 companies
Companies designing and producing innovative technologies to store electricity or heat that has been previously produced.

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- Energy Storage: Batteries
  Companies engaging in the production and development of battery technology.
  
  2085 companies
- Energy Storage: Hydrogen
  Companies using hydrogen as a resource for energy storage.
  
  322 companies
- Energy Storage: Mechanical
  Companies providing the infrastructure and products that enable mechanical energy storage
  
  364 companies
- Energy Storage: Thermal
  Companies providing the infrastructure and products that enable thermal energy storage.
  
  136 companies
- Energy Storage: Uninterruptible power supply
  Companies developing the technologies and related products to build infrastructures that allow for uninterrupted energy supply
  
  288 companies

Energy Storage industry growth

We estimate that the UK Energy Storage sector could be worth approximately £36bn by 2027, based on the compound annual growth rate (CAGR) of 4.2%. Below you can see the five year turnover forecast for the RTIC from 2023 to 2027.

Get your free Energy Storage report

Dig deeper into the UK’s Energy Storage Economy with our free 2023 RTIC report, which includes:

– Summary of RTIC data & industry performance
– Overview of key verticals
– Geographic analysis & breakdown
– Key insights & trends

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Real-Time Industrial Classifications (RTICs)

At The Data City we’re mapping the emerging economy through accurate and reliable real-time data. We’ve produced Real-Time Industrial Classifications (RTICs) for some of the UK’s fastest growing sectors, across over 350 industry verticals, including the Energy Storage industry.

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