Vertical: EnP
Market Size (2019)
$1.19B
Projected (2035)
$43.94B
CAGR (2019–2035)
25.3%
Key Players
10+
This report covers Europe and South America Energy Storage Market with forecasts from 2019 to 2035. 10 key companies are profiled.
The Europe and South America Energy Storage Market market is projected to grow at a CAGR of 25.3% from 2019 to 2035.
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansSubscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansThe energy storage markets in Europe and South America are emerging as critical enablers of energy transition, grid modernization, and renewable energy integration, albeit at different stages of maturity. In Europe, the market is driven by aggressive climate targets, renewable deployment, and regulatory frameworks such as the EU’s Green Deal, Fit for 55, and REPowerEU, which emphasize storage for grid balancing, frequency regulation, and backup. Countries like Germany, Spain, and the UK are leading deployment across residential, commercial, and utility-scale segments, supported by a robust ecosystem of manufacturers, digital platforms, and financial incentives. In contrast, South America’s energy storage landscape is still developing, with growth centered around decentralized applications, rural electrification, and solar+storage hybrids in remote or mining-intensive regions. Countries such as Chile and Brazil are pioneering national storage policies and regulatory reforms, while Colombia and Peru are leveraging storage to enhance energy access and system resilience. While Europe focuses on technological diversification and long-duration storage, South America prioritizes cost-effective, modular lithium-ion solutions to bridge energy gaps. Despite differing regulatory maturity, both regions recognize storage as a cornerstone of future energy systems, attracting increasing investment, policy innovation, and cross-border collaboration to meet sustainability and reliability goals.
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansSubscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansThis report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
—
Historical Period
2019 – 2035
Forecast Period
2019 – 2035
Primary Interviews
150+
Historical performance and future projections
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
Michael Porter’s five forces model gives a framework that models the Energy Storage market, which is influenced by five forces. The strategic business managers, trying to create an edge over competitive firms in the Energy Storage market, can utilize this model to comprehend better the industry connection in which the firm operates. The components of each of the forces and the degree of impact of each component in the context of the Energy Storage market have been broken down and analyzed. ▪ Availability of Close Substitutes (Low) ▪ Buyer Propensity to Substitute (Moderate) Bargaining Power of Buyers (Moderate-High) ▪ Buyer Concentration (Low) ▪ Availability of Substitutes (High) ▪ Switching Costs (Low) Intensity of Rivalry (moderate) ▪ Industry Growth (High) ▪ Competition among Contractors (Moderate)
The threat of new entrants in the European energy storage market is moderate. The market is expanding rapidly due to aggressive decarbonization and renewable energy targets. Countries like Germany, France, and the UK have announced large-scale incentives for battery storage to support solar, wind, and electric vehicle integration. Additionally, declining lithium-ion battery prices have lowered technological barriers, allowing startups and foreign firms to participate, especially in distributed energy storage markets. However, significant obstacles persist. Entry into utility-scale or grid-connected energy storage requires substantial capital investment, advanced grid compliance capabilities, and experience in regulatory processes. Permitting and grid-connection procedures differ widely across Europe, which increases transaction costs and risk for new entrants. Moreover, the energy storage value stack (including frequency regulation, capacity reserve, and time-of-use arbitrage) can be complex and policy-dependent, requiring technical expertise and a deep understanding of market mechanisms. Long-standing energy players like Engie, Enel, and EDF already benefit from strong relationships with Transmission System Operators (TSOs) and Distribution System Operators (DSOs), integrated services, and economies of scale. These incumbents also bundle storage with solar, EV charging, and software platforms, which new entrants may struggle to replicate.
Thus, while technology trends support entry, regulatory fragmentation and incumbent advantages moderate the threat level. – MODERATE The threat of substitutes in the European energy storage market is moderate. Substitution threats in the European energy storage market stem from alternative technologies and strategies that can perform similar grid-balancing, backup, or arbitrage functions. For short-duration flexibility (under 4 hours), battery storage is optimal. However, for long-duration or seasonal needs, pumped hydro storage (PHS), compressed air energy storage (CAES), thermal storage, and green hydrogen offer viable alternatives. Europe has a well-established fleet of pumped hydro stations, especially in countries like Switzerland, Austria, and Norway. These systems provide large-scale, long-duration energy shifting with low operating costs, though expansion is limited by geographical constraints and environmental regulations. Demand-side management and interconnectors such as HVDC links between Nordic and mainland Europe can also shift energy across time and space, reducing the need for stationary storage in some scenarios. Another growing substitute is green hydrogen. With the EU Hydrogen Strategy aiming to scale production and usage of electrolyzers, hydrogen is emerging as a long-term seasonal storage solution, especially in industrial and heating applications.
As electrolyzer and hydrogen storage costs decline, the technology may displace battery systems in certain grid and industrial niches. Despite these alternatives, batteries remain superior for fast-response and modular deployment, especially as part of distributed energy systems. Therefore, while substitute technologies exist and are advancing, their applicability is often complementary rather than directly competitive making the substitution threat moderate. – HIGH Supplier power in the European energy storage market is high, particularly due to Europe’s heavy reliance on imported raw materials and battery cells. The upstream supply chain is controlled by a few dominant players and resource countries. Lithium (from Chile, Argentina, Australia), cobalt (largely from DRC), and nickel (from Indonesia and Russia) are essential for lithium-ion batteries. These resources are not abundantly available or refined in Europe. Additionally, refining and battery cell production is dominated by non- European companies CATL, LGES, and Panasonic, which collectively hold major market share in the EU. Although the EU has launched strategic initiatives (e.g., European Battery Alliance, domestic Gigafactories by Northvolt, Verkor, and ACC), these are still scaling up and won’t fully displace imports before 2030.
Suppliers benefit from technological control, intellectual property, and production scale, making it hard for developers and integrators to negotiate favorable pricing or supply flexibility. Moreover, demand is rising sharply due to overlapping needs from EVs, renewables, and grid stabilization, further straining supply. Limited alternatives to lithium-based systems (e.g., sodium-ion or flow batteries) are not yet fully co
Market estimates by geography (2035)
InsightEurope leads with $40.84B by 2035.
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription Plans| REGION | 2019 | 2019 | 2035 | CAGR | SHARE |
|---|---|---|---|---|---|
| Europe | $1.08B | $12.53B | $40.84B | 25.5% | 93% |
| South America | $102.37M | $1.07B | $3.10B | 23.8% | 7% |
| Total | $1.19B | $13.60B | $43.94B | 25.3% | 100% |
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansTotal Market Size
$43.94B
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| Battery Energy Storage | $41.07B | 25.6% | 93% |
| Others | $1.79B | 22.6% | 4% |
| Pumped Hydro Storage | $727.16M | 20.6% | 2% |
| Flywheel Energy Storage | $243.90M | 23.9% | 1% |
| Compressed Air Energy Storage | $114.93M | 22.7% | 0% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansSee plans for professionals or small and medium businesses.
Analytical insights on Europe and South America Energy Storage Market covering market dynamics, competitive landscape, and strategic outlook.
The Europe and South America Energy Storage Market market is projected to reach $43.94B by 2035, growing at 25.3% CAGR. The Battery Energy Storage segment holds the largest share.
The energy storage markets in Europe and South America are emerging as critical enablers of energy transition, grid modernization, and renewable energy integration, albeit at different stages of maturity. In Europe, the market is driven by aggressive climate targets, renewable deployment, and regulatory frameworks such as the EU’s Green Deal, Fit for 55, and REPowerEU, which emphasize storage for grid balancing, frequency regulation, and backup. Countries like Germany, Spain, and the UK are leading deployment across residential, commercial, and utility-scale segments, supported by a robust ecosystem of manufacturers, digital platforms, and financial incentives. In contrast, South America’s energy storage landscape is still developing, with growth centered around decentralized applications, rural electrification, and solar+storage hybrids in remote or mining-intensive regions. Countries such as Chile and Brazil are pioneering national storage policies and regulatory reforms, while Colombia and Peru are leveraging storage to enhance energy access and system resilience. While Europe focuses on technological diversification and long-duration storage, South America prioritizes cost-effective, modular lithium-ion solutions to bridge energy gaps. Despite differing regulatory maturity, both regions recognize storage as a cornerstone of future energy systems, attracting increasing investment, policy innovation, and cross-border collaboration to meet sustainability and reliability goals.
Europe In 2024, the European Union achieved a record milestone where 46.9% of its net electricity generation came from renewable energy sources. This transition marks a fundamental shift in the continent's energy landscape. Among EU countries, Denmark led the pack with 88.4% renewable share, heavily reliant on wind energy. Portugal followed at 87.5%, supported by a balanced contribution of wind and hydro, while Croatia reached 73.7%, driven mainly by hydro. At the lower end, Luxembourg (5.1%), Malta (15.1%), and Czechia (15.9%) demonstrate the uneven progress across member states. As renewables contribute nearly half of the EU’s electricity, the intermittency of wind and solar creates urgent grid management challenges. Wind and hydro accounted for a combined 69% of renewable electricity (39.1% wind, 29.9% hydro), while solar contributed 22.4%, reflecting its growing importance. These sources vary in output due to weather and daylight, unlike fossil or nuclear sources. To mitigate curtailment and ensure reliability, energy storage systems (ESS) such as lithium-ion batteries, pumped hydro, and flow batteries are becoming indispensable. As renewables continue their upward trajectory, energy storage becomes the backbone of grid flexibility storing excess electricity and releasing it during demand peaks or supply shortfalls.
This 47% renewable threshold is not just a success metric but a trigger point demanding rapid ESS scale-up to avoid grid congestion and maximize clean energy use. BREAKDOWN OF RENEWABLE ENERGY SOURCES IN THE EU ELECTRICITY GENERATION MIX, 2024 Share of Renewables in Net Electricity Generation Across EU Breakdown of Renewable Energy Sources in the EU Countries in 2024 Electricity Generation Mix, 2024 % 90 Wind 55 Hydro 40 35 22.40% Solar 20 Combustible Fuels - 10 Renewable 0 Geothermal Share of Renewables in Net Electricity Generation (%) EU Denmark Portugal Croatia Austria Latvia Sweden Lithuania Estonia Finland Germany Spain Netherlands Greece Romania Italy Ireland Slovenia The above figure depicts the share of renewables in net electricity generation across various EU countries in 2024 and the composition of renewable sources in the EU electricity generation mix. Countries like Denmark (83.4%) and Portugal (77.5%) lead in renewable energy contributions, while the EU average stands at 46.5%. Wind (38.1%), hydro (22.4%), and solar (23.9%) dominate the renewable energy mix. This growing penetration of intermittent renewables such as wind and solar highlights the critical need for energy storage systems (ESS) in Europe.
ESS plays a vital role in balancing supply and demand, ensuring grid stability, and enabling efficient use of excess renewable generation. As countries push toward higher shares of clean energy, investment in advanced storage technologies becomes a key driver for the sustainable growth of the European energy market. Europe installed of new wind power in 2023, with the EU-27 accounting for its highest ever, yet only half of what’s required to meet 2030 energy targets under REPowerEU. The majority (79%) of the new capacity was onshore, reinforcing the dominance of this cost-effective segment. Offshore installations set a new record of 3.8 GW, pointing to increasing maturity in that space. Wind energy supplied 19% of total EU electricity consumption in 2023, but this share varies dramatically by country. For example, Denmark (56%), Ireland (36%), Germany (31%), and the UK (29%) have become wind-centric grids. This variability introduces storage demand in two ways: (1) temporal, to absorb surpluses during windy periods and release during lulls, and (2) geographic, to move power from windy areas to consumption centers. Countries like Germany added 3.9 GW, with 92% being onshore, reflecting low permitting friction and strong policy. The Neth
The sharp decline in lithium-ion battery pack prices reaching a record low of $115 per kilowatt-hour in 2024, as reported by BloombergNEF has substantially strengthened the business case for grid-scale energy storage across Europe and South America. This 20% year-on-year price drop, the largest since 2017, was primarily driven by a global oversupply of battery cells, declining input material costs, and broader adoption of lithium-iron-phosphate (LFP) chemistries. With 3.1 TWh of battery-cell manufacturing capacity already commissioned globally more than 2.5 times the annual demand the oversupplied market is forcing prices down and enabling utilities and IPPs (independent power producers) to consider battery energy storage systems (BESS) as a mainstream grid asset. In Europe, this price trajectory has directly impacted the economic viability of energy storage in frequency regulation markets, peak shaving, and renewable firming especially in countries like the UK, Germany, and Spain, where renewable penetration regularly challenges grid stability. Cell Price ($/kWh) Pack Price ($/kWh) Total Price ($/kWh) The above figure shows the consistent decline in volume-weighted average lithium-ion battery prices from 2013 to 2024, with both cell and pack costs reducing significantly.
Prices fell from $806/kWh in 2013 to $115/kWh in 2024 (real 2024 dollars), driven by technology advancements, economies of scale, and supply chain improvements. In South America, where cost sensitivity has traditionally slowed grid-scale energy storage deployments, this price collapse presents a historic opportunity. Nations such as Chile, Brazil, and Argentina can now integrate storage with large solar and wind installations without heavy reliance on subsidies. In Chile’s Atacama Desert or Brazil’s northeast wind corridor, storage can prevent renewable curtailment and provide reliable backup during low generation windows. Previously, BESS installations in the region were economically justifiable only under pilot programs or donor-backed schemes. Now, with system costs dropping (including inverters and balance-of-system components), developers can present viable business cases with faster ROIs. Additionally, with stationary storage demand accelerating and EV battery growth plateauing, manufacturers are turning their attention to utility-scale projects driving innovation, quality, and competition in favor of buyers in both regions. The $115/kWh global average battery price also redefines the economics of behind-the-meter (BTM) storage, a segment witnessing tremendous growth in Europe and beginning to gain traction in South America.
At this price point, residential and commercial storage systems especially those coupled with rooftop solar are becoming accessible to mass-market consumers. In Germany, where retail electricity prices remain high (above €0.30 kWh), residential P -plus-storage systems now achieve payback periods under 7 years, spurring demand. The affordability of lithium-iron-phosphate (LFP) chemistry, with its longer life cycle and lower fire risk, further reduces long-term ownership costs for households and small businesses. Governments in countries like Italy and Austria are also offering tax deductions or rebates to accelerate adoption, amplifying the price impact. In the UK, home energy storage systems have surged by over 80% year-on-year, partly due to volatile electricity tariffs and increased awareness of grid reliability issues. In South America, where residential solar growth is strong (particularly in Brazil, which surpassed 2.5 million distributed solar systems in 2024), falling battery prices open the door to scalable solar-plus-storage adoption. Previously, residential batteries were largely unaffordable or limited to premium users. Now, PAYG (Pay-As-You-Go) solar models are beginning to include storage in their bundles, targeting middle-income and off-grid customers.
Moreover, for commercial and industrial users, battery storage is proving essential for energy cost management, especially in countries where demand charges and power outages are common. Mining companies in Chile and Peru are beginning to invest in modular BESS to complement renewable microgrids, while Argentine agribusinesses are exploring containerized storage for irrigation and processing equipment. As the cost of storage declines, distributed systems become a cost-effective tool not just for resilience and autonomy, but also for decarbonization across rural and urban settings alike. The dramatic 2024 price drop has indire
High initial capital costs continue to hinder the deployment of energy storage systems, particularly at utility scale. On average, grid- scale lithium-ion battery systems cost between USD 300–500 per kWh installed, depending on project size, location, and technology integration. A 100 MW/400 MWh battery storage facility in Europe can cost between USD 120–180 million, requiring substantial capital investment before a single euro of revenue is generated. Although the cost of lithium-ion batteries fell by over 80% from 2010 to 2022, recent supply chain disruptions and rising demand have led to a temporary uptick in prices by around 7% in 2022, according to BloombergNEF. In South America, the situation is more complex. In countries like Brazil or Chile, capital costs are often inflated by 20–30% due to import duties and currency depreciation. Since energy storage often competes with cheaper alternatives (e.g., fossil-based peaker plants or hydro dams), the cost disadvantage is amplified. Without long-term power purchase agreements (PPAs) or government-backed revenue guarantees, project developers and utilities face severe risks in cost recovery. The high capital burden is driven significantly by the cost of core technologies.
As of 2024, lithium iron phosphate (LFP) battery packs cost USD 130–150 per kWh, while newer technologies like vanadium redox flow batteries cost over USD 400–600 per kWh. Moreover, Europe still imports over 80% of its lithium-ion batteries, despite the launch of giga-factory projects in Germany, Hungary, and France. In South America, more than 90% of advanced battery systems are imported, primarily from China. This dependence exposes developers to foreign exchange risk e.g., the Chilean peso lost over 15% of its value in 2023, increasing procurement costs. Balance-of-system (BoS) expenses including inverters, battery management systems (BMS), fire protection, HVAC, and land acquisition can account for 25–40% of total installed cost. Even modest 10–20 MW projects in remote regions may exceed USD 15 million, making them financially unviable without donor or climate finance support. Further, O&M costs estimated at 2–4% of initial CAPEX per year add to the long-term burden, especially in harsh environments or decentralized locations. The high upfront costs are exacerbated by limited access to affordable project financing. According to the International Renewable Energy Agency (IRENA), less than 20% of global energy storage investments in 2023 were in emerging markets, largely due to financing barriers.
In South America, commercial interest rates for energy projects often exceed 10–12%, versus 3–5% in developed European markets, making capital-intensive projects cost-prohibitive. Furthermore, energy storage is not consistently recognized as a standalone asset class in many regulatory regimes. For example, Brazil only introduced formal energy storage regulations in late 2022, and even then, monetization of stacked services (like frequency response, spinning reserve, or demand charge reduction) is still not standardized. In Europe, although Germany and the UK offer storage-friendly markets, many EU nations still lack clear guidance on ownership rights for Transmission System Operators (TSOs) or compensation mechanisms for grid services. The absence of bankable revenue models with predictable cash flows from storage operations leads lenders to assign higher risk premiums or reject funding applications altogether. Even large-scale developers like EDF Renewables or Enel X tend to proceed cautiously, favoring joint ventures with technology partners or state-backed funds to de-risk initial capital exposure. Despite a growing global emphasis on clean energy and grid flexibility, many governments in Europe and South America continue to prioritize conventional energy systems such as fossil fuels and hydroelectric power over modern energy storage technologies in terms of financial backing.
According to the International Energy Agency (IEA), global fossil fuel subsidies reached USD 1.3 trillion in 2022, massively overshadowing support for renewable energy and storage combined. In South America, countries such as Argentina and Venezuela provide direct subsidies to fossil-based electricity producers to maintain low energy tariffs, often resulting in unsustainable fiscal burdens while crowding out investment in emerging technologies like storage. In Brazil, over 50% of electricity subsidies go to large hydro and thermal projects under mechanisms such as Proinfa and Capacity Reserve Auctions. Although Europe has made progress in phasing out coal and reducing emissions, many Eastern and Southern European nations have yet to design storage-specific financial support programs. The consequence is an energy policy misalignment governments continue to fund legacy generation assets, but fail to acknowledge the critical role of storage in integrating renewables, balancing demand, and ensuring grid stability. Storage developers are then forced to enter competitive markets without the backing their fossil-based competitors enjoy, resulting in a structural disadvantage. This leads to delayed investment decisions, underutilization of clean energy, and a fragmented path toward climate goals.
One of the most pressing issues facing the energy storage industry is the lack of targeted financial incentives unlike solar or wind energy, which have long benefited from feed-in tariffs (FiTs), tax rebates, and green certificates. As of 2023, only 8 out of 27 EU member states had formal storage-specific incentives, such as grants or low-interest loans. Most European Union-level funding schemes prioritize generation technologies, while storage is treated as an auxiliary service rather than a strategic asset. Even in frontrunner markets like Germany, financial support i
Near-term growth will likely concentrate in modular bioreactor lines and closed-system media workflows that shorten validation cycles while preserving batch traceability.
Partnerships between CDMOs and instrumentation vendors should accelerate standard datasets for comparability across sites, improving forecasting models used in capacity planning.
Longer horizon, organoid and microphysiological adoption may reshape segment mix; teams that invest early in assay interoperability and cloud QC hooks are better positioned to capture upside without fragmenting their analytics stack.
Profiles of 108 companies operating in the Europe and South America Energy Storage Market market, including revenue, employee count, and market positioning where available.
Showing 108 of 108 companies
Siemens is Europe's largest industrial technology group and, on the evidence of its own fiscal 2025 accounts, one of the very few diversified industrials that has successfully converted a hardware conglomerate into a software-and-automation compounder without sacrificing scale. Revenue of €78.9 billion and net income of €10.4 billion in FY2025 sit alongside a €117 billion order backlog and a 42,400-strong patent estate. The company's structural advantage is the pairing of installed-base automation hardware — SIMATIC, SINAMICS, SENTRON, Trainguard — with a first-tier industrial software franchise built through Mentor Graphics, Altair and Dotmatics, monetized through the Siemens Xcelerator platform. The planned spin-off of Siemens Healthineers, scheduled for a shareholder vote in February 2027, will strip roughly €23 billion of revenue but leave a more focused, higher-multiple portfolio of Digital Industries, Smart Infrastructure and Mobility. The strategic bet is explicit: industrial AI, electrification of data centres, and doubling digital revenue by 2030. --- ### What Siemens does — the company's own characterization Siemens describes itself in its FY2025 corporate boilerplate as a technology company focused on industry, infrastructure, mobility and healthcare, whose stated purpose is to create technology to transform the everyday. The formulation Siemens uses consistently across FY2025–FY2026 filings is that it combines the real and the digital worlds to help customers accelerate digital and sustainability transformations — making factories more efficient, cities more liveable, and transport more sustainable. Since FY2024 the company has appended a claim to leadership in industrial AI, positioning its domain knowledge as the differentiator that makes generative and predictive AI usable in physical industrial settings. ### Independent characterization Siemens is best understood not as a conglomerate but as three tightly coupled franchises plus a soon-to-be-detached fourth: **(a) An automation installed-base business with a software annuity attached (Digital Industries).** The economic engine here is the sale of controllers, drives, CNCs and industrial networking hardware into discrete and process manufacturing, followed by decades of engineering-software attach. Siemens' EDA business (formerly Mentor Graphics) and its PLM/simulation stack (NX, Teamcenter, Simcenter, now Altair) are genuinely tier-one franchises competing head-on with Dassault Systèmes, PTC, Cadence and Synopsys — not adjuncts to hardware. Digital Industries software revenue reached €1,790 million in Q3 FY2026 alone, up 16% year-over-year. **(b) A late-cycle electrification and buildings business riding a structural capex wave (Smart Infrastructure).** This is currently Siemens' best-performing franchise, with Q3 FY2026 orders of €8,002 million, up 40% nominally and 42% comparably, driven explicitly by large data-centre contracts in the US and Europe. Q3 FY2026 profit margin reached 20.0%. This is the segment most directly levered to the AI-infrastructure buildout. **(c) A long-cycle project and systems business with multi-decade service tails (Mobility).** Rolling stock, rail infrastructure, signalling and maintenance contracts. Order intake is lumpy — Q3 FY2026 included a €2.2 billion Swiss double-deck train order, a €2.0 billion UK extended-maintenance contract, and a €0.6 billion German battery-train service contract — but converts into decades of high-visibility service revenue. **(d) A consolidated but exiting medtech business (Siemens Healthineers).** 69% owned at Sept 30, 2025; reduced to approximately 67% subsequently. Siemens intends to distribute 30 percentage points of that stake directly to shareholders and, over the medium term, reduce the residual holding to a financial asset. **(e) A captive finance arm (Siemens Financial Services).** Total assets of €33,365 million at June 30, 2026. SFS both supports industrial sales through equipment and project finance and runs a proprietary debt and equity book. Its Q3 FY2026 EBT of €238 million included a €156 million gain from selling a UK equity stake — a reminder that SFS earnings are structurally lumpier than industrial earnings. ### Revenue model and mix Siemens does not disclose a full product / service / subscription / licence split at group level. What is disclosed: The strategically important trend is Digital Industries' transition to a software-as-a-service model, which the Supervisory Board explicitly cited when extending Cedrik Neike's contract. SaaS conversion depresses reported revenue in transition years — a partial explanation for DI's FY2025 revenue decline of 4% against 8% order growth. ### Value chain position, customers and end markets Siemens sits at the specification and control layer of industrial value chains rather than at the commodity component layer. Its products are typically designed into customer plants, buildings, grids and rolling stock at the engineering stage, creating switching costs measured in years. **Customer types:** discrete manufacturers (automotive, electronics, machine building, aerospace); process industries (chemicals, pharmaceuticals, food and beverage, oil and gas, water); semiconductor and electronics designers (EDA); hyperscale and colocation data-centre operators; commercial and institutional building owners; electric utilities and distribution network operators; national and municipal rail operators and rolling-stock leasing companies; hospitals and diagnostic laboratories (via Healthineers); and life-sciences R&D organizations (via Dotmatics). **End markets served:** factory and process automation; industrial and engineering software; electrical distribution and low/medium-voltage electrification; data-centre power infrastructure; building automation, fire safety and security; e-mobility charging; grid software and automation; passenger and freight rail; medical imaging, diagnostics and radiation oncology; and equipment/project finance. **Geographic exposure (FY2025 revenue):** Europe/C.I.S./Africa/Middle East €36,933m (46.8%); Americas €25,758m (32.6%); Asia and Australia €16,224m (20.6%). Germany alone was €11,646m and the United States €22,097m — meaning the US is now Siemens' single largest country market by a factor of nearly two over its home market.
6 interactive charts drawn from the Europe and South America Energy Storage Market dataset — market size, regional splits and each segment breakdown. Open one to read its full data table and download it.
Europe and South America Energy Storage Market By South America
Europe and South America Energy Storage Market By Europe
Europe and South America Energy Storage Market By End-User
Europe and South America Energy Storage Market By TYPE
Europe and South America Energy Storage Market By Technology
Europe and South America Energy Storage Market By Region
Powering the world's best teams.
From next-gen startups to established enterprises.
Trusted by forward-thinking businesses
for data-driven intelligence
Co-Founder, Mojave Rail Fabrication Limited
This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.
Manager, JavolVision
Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Sales Operations & Pricing Manager, Intel
Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Sales Leader, Bamberg
We bought your "2025 report" in 2020. Everything is fine and very good.
Account and Business Manager, EFS-Holland BV
Thanks for sending the report it gives us a good global view of the Betaïne market.
Senior Retail Manager, LG Chem
We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Management Consultant, Level 21
I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Co-Founder, Mojave Rail Fabrication Limited
This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.
Manager, JavolVision
Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Sales Operations & Pricing Manager, Intel
Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Sales Leader, Bamberg
We bought your "2025 report" in 2020. Everything is fine and very good.
Account and Business Manager, EFS-Holland BV
Thanks for sending the report it gives us a good global view of the Betaïne market.
Senior Retail Manager, LG Chem
We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Management Consultant, Level 21
I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Historical performance and future projections (2020–2030, USD Billion)
Market Size (USD Million)
