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In September 2024, Siemens signed an agreement with Thailand's Ministry of Energy to develop smart grid solutions that include energy storage devices to improve rural electricity delivery. Tesla, Sonnen, LG Energy Solution, BYD, VARTA AG, Siemens, ABB, AES. . The ASEAN energy storage market is segmented by type (pumped-hydro storage, battery energy storage systems, and other types), application (residential, commercial, and industrial), and geography (Indonesia, Vietnam, the Philippines, Malaysia, and the rest of ASEAN). In 2020, due to the COVID-19 pandemic, many power projects were halted because of pandemic, namely in. . The ASEAN Energy Storage Market size is estimated at USD 3. Energy storage is the capture and storage of energy for later use.