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Batteries for Solar Energy Storage Market Size, Share, and Analysis, By Battery Type (Lead Acid, Lithium-Ion, Nickle Cadmium, and Others), By Connectivity (Off-Grid and On-Grid), By End-User (Residential, Commercial, and Industrial), By Region (North Amer

Publisher Fatpos Global
Published Dec 01, 2024
Length 625 Pages
SKU # FAGL19607306

Description

Batteries for Solar Energy Storage Market Size, Share, and Analysis, By Battery Type (Lead Acid, Lithium-Ion, Nickle Cadmium, and Others), By Connectivity (Off-Grid and On-Grid), By End-User (Residential, Commercial, and Industrial), By Region (North America, Europe, Asia-Pacific, and Rest of the World), And Regional Forecast 2024-2034

PRODUCT OVERVIEW

Batteries for Solar Energy Storage Market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 20.3% during the forecast span from 2024 to 2034. In 2023, the market size was assessed at USD 21.2 billion and is projected to reach USD 162.1 billion by the completion of 2034.

Batteries for solar energy storage are designed to save extra electricity produced by solar panels during times of brighter sunlight for later use. These systems allow residences and commercial establishments to make use of solar energy even when there is no sunlight, for instance at nighttime or during heavy cloud cover. In addition, the most frequently seen variations of solar energy storage batteries are lithium-ion batteries, which are the ones found in electric cars, due to their high energy content and extended durability. Moreover, while lead-acid batteries offer a more affordable option, emerging technologies such as flow batteries and solid-state batteries are gaining importance in the solar energy storage industry. These storage setups consist of a battery, an inverter that changes DC power to AC, and a charge controller that controls the movement of power. Thus, batteries are important for promoting the adoption of solar energy as a primary source of power by providing a constant supply of electricity.

MARKET HIGHLIGHTS

Batteries for the solar energy storage market are projected to reach USD 162.1 billion over the forecast period, due to the growing acceptance of renewable energy and the need for energy self-sufficiency. Due to the excellent efficiency and low cost of lithium-ion batteries, the market for solar energy storage batteries is becoming increasingly competitive. In the housing market, there is a clear trend of rising popularity as homeowners are integrating solar panels with battery setups. This pattern further holds for utility-scale and commercial storage projects, which often combine solar energy with the installation of sizable batteries. In addition, there is a substantial focus on integrating intelligent energy management systems into these storage solutions. Besides, in numerous countries, government incentives and policies are boosting the growth and innovation in this sector.

Batteries for Solar Energy Storage Market Segments:
  • By Battery
  • Lead Acid
  • Lithium-Ion
  • Nickle Cadmium
  • Others
  • By Connectivity
  • Off-Grid
  • On-Grid
  • By End-User
  • Residential
  • Commercial
  • Industrial
MARKET DYNAMICS

Growth Drivers

Declining Costs and Increasing Efficiency to Drive Growth in the Batteries for Solar Energy Storage Market

Growing Renewable Energy Integration Act as a Catalyst for Market Growth

Restraint

Raw Material Supply Constraints in the Batteries for Solar Energy Storage Market Will Impact the Growth

Key Players
  • Tesla, Inc.
  • LG Energy Solution
  • Panasonic Corporation
  • BYD Company Limited
  • Samsung SDI Co., Ltd.
  • Sonnen GmbH
  • Enphase Energy, Inc.
  • Generac Power Systems, Inc.
  • SolarEdge Technologies, Inc.
  • ABB Ltd.
  • Eaton Corporation
  • Huawei Technologies Co., Ltd.
  • Sungrow Power Supply Co., Ltd.
  • Delta Electronics, Inc.
  • NEC Energy Solutions, Inc.
  • Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
Global Laboratory Temperature Control Units Market is further segmented by region into:
  • North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
  • Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
  • Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
  • Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
  • Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Reasons to Purchase this Report
  • Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
  • Provision of market value (USD Billion) data for each segment and sub-segment
  • Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
  • Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
  • Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
  • Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
  • The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
  • Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
  • Provides insight into the market through Value Chain
  • Market dynamics scenario, along with growth opportunities of the market in the years to come
  • 3-month post-sales analyst support.
*Please Note: The report will be delivered in 2-3 business days upon order confirmation*

Table of Contents

625 Pages
1 Executive Summary
1.1. Regional Market Share
1.2 Business Trends
1.3. Batteries for Solar Energy Storage Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot
2. Research Methodology
2.1 Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4 Primary Research
2.5 Secondary Research
2.5.1 Paid Sources
2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation
3. Market Characteristics
3.1 Market Definition
3.2 Batteries for Solar Energy Storage Market: COVID-19 Impact
3.3. Key Segmentations
3.4 Key Developments
3.5 Allied Industry Data
4 Batteries for Solar Energy Storage Market – Industry Insights
4.1. Industry Segmentation
4.2 COVID-19 overview of world economy
4.3 Industry Ecosystem Channel Analysis
4.4 Innovation & Sustainability
5. Macroeconomic Indicators
6. Recent Developments
7. Market Dynamics
7.1 Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4 Market Restraints
7.5. Market Trends
8 Risk Analysis
9. Market Analysis
9.1 Porter's Five Forces
9.2. PEST Analysis
9.2.1 Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10 Batteries for Solar Energy Storage Market
10.1 Overview
10.2. Historical Analysis (2019-2022)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11. Batteries for Solar Energy Storage Market Size & Forecast 202 A-203 F
11.1. Overview
11.2 Key Findings
11.3 Market Segmentation
11.3.1. By Battery
11.3.1.1. Lead Acid
11.3.1.1.1 By Value (USD Million) 2024-203 F
11.3.1.1.2. Market Share (%) 2024-203 F
11.3.1.1.3. Y-o-Y Growth (%) 2024-203 F
11.3.1.2 Lithium-Ion
11.3.1.2.1. By Value (USD Million) 2024-203 F
11.3.1.2.2 Market Share (%) 2024-203 F
11.3.1.2.3 Y-o-Y Growth (%) 2024-203 F
11.3.1.3 Nickle Cadmium
11.3.1.3.1. By Value (USD Million) 2024-203 F
11.3.1.3.2 Market Share (%) 2024-203 F
11.3.1.3.3 Y-o-Y Growth (%) 2024-203 F
11.3.1.4 Others
11.3.1.4.1. By Value (USD Million) 2024-203 F
11.3.1.4.2 Market Share (%) 2024-203 F
11.3.1.4.3 Y-o-Y Growth (%) 2024-203 F
11.3.2. By Connectivity
11.3.2.1 Off-Grid
11.3.2.1.1. By Value (USD Million) 2024-203 F
11.3.2.1.2 Market Share (%) 2024-203 F
11.3.2.1.3 Y-o-Y Growth (%) 2024-203 F
11.3.2.2. On-Grid
11.3.2.2.1 By Value (USD Million) 2024-203 F
11.3.2.2.2. Market Share (%) 2024-203 F
11.3.2.2.3. Y-o-Y Growth (%) 2024-203 F
11.3.3 By End-User
11.3.3.1 Residential
11.3.3.1.1. By Value (USD Million) 2024-203 F
11.3.3.1.2 Market Share (%) 2024-203 F
11.3.3.1.3 Y-o-Y Growth (%) 2024-203 F
11.3.3.2. Commercial
11.3.3.2.1 By Value (USD Million) 2024-203 F
11.3.3.2.2. Market Share (%) 2024-203 F
11.3.3.2.3. Y-o-Y Growth (%) 2024-203 F
11.3.3.3. Industrial
11.3.3.3.1 By Value (USD Million) 2024-203 F
11.3.3.3.2. Market Share (%) 2024-203 F
11.3.3.3.3. Y-o-Y Growth (%) 2024-203 F
12 North America Batteries for Solar Energy Storage Market Size & Forecast 202 A-203 F
12.1 Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1 By Battery
12.3.2. By Connectivity
12.3.3. By End-User
12.4. Country
12.4.1. United States
12.4.2 Canada
13 Europe Batteries for Solar Energy Storage Market Size & Forecast 202 A-203 F
13.1 Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1 By Battery
13.3.2. By Connectivity
13.3.3. By End-User
13.4 Country
13.4.1 Germany
13.4.2. United Kingdom
13.4.3. France
13.4.4. Italy
13.4.5. Spain
13.4.6. Russia
13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14 Asia-Pacific Batteries for Solar Energy Storage Market Size & Forecast 202 A-203 F
14.1. Overview
14.2. Key Findings
14.3 Market Segmentation
14.3.1 By Battery
14.3.2. By Connectivity
14.3.3. By End-User
14.4 Country
14.4.1. India
14.4.2. China
14.4.3. South Korea
14.4.4 Japan
14.4.5 Rest of APAC
15 Middle East and Africa Batteries for Solar Energy Storage Market Size & Forecast 202 A-203 F
15.1 Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1 By Battery
15.3.2. By Connectivity
15.3.3. By End-User
15.4 Country
15.4.1. Israel
15.4.2 GCC
15.4.3 North Africa
15.4.4 South Africa
15.4.5 Rest of Middle East and Africa
16. Latin America Batteries for Solar Energy Storage Market Size & Forecast 202 A-203 F
16.1 Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1 By Battery
16.3.2. By Connectivity
16.3.3. By End-User
16.4. Country
16.4.1. Mexico
16.4.2 Brazil
16.4.3 Rest of Latin America
17. Competitive Landscape
17.1 Company market share, 2023
17.2. Key player overview
17.3. Key stakeholders
18. Company Profiles
18.1. Tesla, Inc.
18.1.1 Company Overview
18.1.2 Financial Overview
18.1.3 Key Product; Analysis
18.1.4 Company Assessment
18.1.4.1 Product Portfolio
18.1.4.2 Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2 LG Energy Solution
18.3 Panasonic Corporation
18.4. BYD Company Limited
18.5. Samsung SDI Co., Ltd.
18.6 Sonnen GmbH
18.7 Enphase Energy, Inc.
18.8. Generac Power Systems, Inc.
18.9 SolarEdge Technologies, Inc.
18.10 ABB Ltd.
18.11. Eaton Corporation
18.12 Huawei Technologies Co., Ltd.
18.13 Sungrow Power Supply Co., Ltd.
18.14 Delta Electronics, Inc.
18.15 NEC Energy Solutions, Inc.
18.16 Other Prominent Players
19. Appendix
20 Consultant Recommendation

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