North America Liquid Air Energy Storage Market Size, Share, and COVID-19 Impact Analysis, By Type (Electro-chemical Storage, Pumped Hydro Storage (PHS), Thermal Energy Storage, and Hydrogen Energy Storage), By Application (Utility, Industrial, and Residential & Commercial), and North America Liquid Air Energy Storage Market Insights, Industry Trend, Forecasts to 2035

North America Liquid Air Energy Storage Market Insights Forecasts to 2035

• The North America Liquid Air Energy Storage Market Size Was Estimated at USD 355.8 Million in 2024.
• The Market Size is Growing at a CAGR of 18.91% between 2025 and 2035.
• The North America Liquid Air Energy Storage market is Anticipated to Reach USD 2390.5 Million by 2035.

According to a research report published by Spherical Insights & Consulting, The North America Liquid Air Energy Storage Market Size is anticipated to hold USD 2390.5 Million by 2035, Growing at a CAGR of 18.91% from 2025 to 2035. North America’s liquid air energy storage market will benefit from rising renewable integration needs, growing demand for long-duration storage, grid modernization investments, decarbonization goals, and increasing utility interest in scalable, clean, and cost-efficient energy storage technologies.

Market Overview

The North America liquid air energy storage (LAES) market refers to technologies that store energy by liquefying air at low temperatures and releasing it to generate power during peak demand. This long-duration storage solution is gaining traction as the region accelerates its transition toward renewable energy and grid decarbonization. LAES offers key advantages such as high scalability, long asset life, minimal environmental impact, and the ability to support large-scale renewable integration. Growing investments in grid modernization, rising adoption of intermittent solar and wind power, and the need for flexible, long-duration storage systems are driving market expansion. Additionally, supportive government policies, corporate sustainability commitments, and advancements in cryogenic infrastructure further strengthen the growth outlook for LAES across North America.

Report Coverage

This research report categorizes the market for the North America liquid air energy storage market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the North America liquid air energy storage market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the North America liquid air energy storage market.

Driving Factors

Renewable integration, grid stability, decarbonization incentives, technological advancements, energy security.

The North America liquid air energy storage (LAES) market is driven by the increasing integration of renewable energy sources, such as wind and solar, which require reliable long-duration storage solutions. Rising demand for grid stabilization, peak-shaving capabilities, and energy security further supports adoption. Technological advancements in cryogenic storage systems, decreasing costs of energy storage infrastructure, and strong government incentives for decarbonization and clean energy deployment also accelerate market growth. Additionally, growing utility-scale projects and corporate sustainability initiatives enhance LAES market potential.

Restraining Factors

High costs, technical complexity, battery competition, regulatory hurdles, limited expertise.

The North America liquid air energy storage (LAES) market faces challenges such as high initial capital investment and complex infrastructure requirements, which can deter small-scale adoption. Limited awareness and technical expertise in designing, operating, and maintaining cryogenic storage systems also constrain market growth.

Opportunities

Renewable integration, grid modernization, corporate sustainability, cryogenic technology, large-scale deployment.

The North America liquid air energy storage (LAES) market presents significant opportunities due to the increasing penetration of renewable energy, which demands long-duration storage solutions. Expanding investments in grid modernization and smart infrastructure create avenues for LAES deployment. There is potential for large-scale utility projects, corporate sustainability initiatives, and integration with other clean energy technologies. Technological advancements in cryogenic systems, cost reductions, and strategic partnerships with industrial gas and energy companies further enhance market prospects, supporting widespread adoption and regional growth.

Market Segmentation

The North America liquid air energy storage market share is classified into type and application.

• The thermal energy storage segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The North America liquid air energy storage market is segmented by type into electro-chemical storage, pumped hydro storage (phs), thermal energy storage, and hydrogen energy storage. Among these, the thermal energy storage segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. This growth is driven by LAES systems’ reliance on cryogenic thermal storage to store and release energy efficiently. The segment benefits from increasing renewable energy integration, demand for long-duration storage, technological advancements in cryogenic heat management, and large-scale utility and industrial applications across the region.

• The utility segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The North America liquid air energy storage market is segmented by application into utility, industrial, and residential & commercial. Among these, the utility segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. This is due to the increasing need for large-scale, long-duration energy storage to balance intermittent renewable generation, provide grid stabilization, manage peak demand, and support decarbonization initiatives. Utilities are increasingly adopting LAES systems to enhance energy reliability, integrate renewable sources efficiently, and meet regulatory and sustainability targets.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the North America liquid air energy storage market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Highview Power
• General Electric (GE) / GE Renewable Energy
• Siemens Energy
• Linde plc
• Messer Group
• MAN Energy Solutions
• Chart Industries
• Air Liquide

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at Europe, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the North America liquid air energy storage market based on the following segments:

North America Liquid Air Energy Storage Market, By Type

• Electro-chemical Storage
• Pumped Hydro Storage (PHS)
• Thermal Energy Storage
• Hydrogen Energy Storage

North America Liquid Air Energy Storage Market, By Application

• Utility
• Industrial
• Residential & Commercial