The Residential Energy Storage market is expected to grow from USD 7.5 billion in 2019 to USD 24.36 billion by 2025 at a CAGR of 21.69% from 2019 to 2025.
Increasing demand for uninterrupted and reliable power supply and the increase in the adoption of solar rooftop systems by the residential sector is anticipated to be the major drivers for the market studied. But the high installation cost for solar plus battery systems is expected to hinder the development. Residential energy storage systems technologies that are currently in use worldwide. Residential home battery technologies are used across a number of industries and applications, like automotive, renewable energy, and telecommunications. The technologies debated in this report are in use across the industries mentioned above and many more as well, as new sectors are driven by product and technological innovation emerge. The global market is segregated on the basis of Connectivity Type as Off-grid and On-grid. Based on Ownership Type the market is segmented in Utility owned, Third-party owned, and Customer owned. Based on Technology the market is segmented in Lead–Acid and Lithium-ion. Based on Power Rating, the market is segmented in 6–10 kW and 3–6 kW. The report also bifurcates the market based on Operation Type in Solar and storage and Standalone systems.
The global market report provides geographical analysis covering regions, such as North America, Europe, Asia-Pacific, and the Rest of the World. The market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Rivalry
Huawei (China), Samsung SDI Co. Ltd. (South Korea), Tesla (US), LG Chem (South Korea), SMA Solar Technology (Germany), BYD (China), Siemens (Germany), Eaton (Ireland), Schneider Electric (France), ABB (Switzerland), and others are among the major players in the market. The companies studied in terms of product strategy and various n several growths and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global Residential Energy Storage market has been segmented as below:
By Connectivity Type
By Ownership Type
By Technology
By Power Rating
By Operation Type
By Region
By Company
The report covers the below scope:
The years considered for the study are as follows:
Report Scope:
The global market report scope includes a detailed study covering underlying factors influencing the industry trends. The report covers the analysis of regional and country-level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes a detailed competitive outlook covering market shares and profiles key participants in the market share. Major industry players with significant revenue share include Huawei (China), Samsung SDI Co. Ltd. (South Korea), Tesla (US), LG Chem (South Korea), SMA Solar Technology (Germany), BYD (China), Siemens (Germany), Eaton (Ireland), Schneider Electric (France), ABB (Switzerland), and others.
Why to Buy this Report:
Target Audience:
The report targeted the existing players in the industry is as follows:
Free and Paid Customization based on the requirement
Report Content
1.1 Key Insights
1.2 Report Overview
1.3 Markets Covered
1.4 Stakeholders
2.1 Research Scope
2.2 Market Research Process
2.3 Research Data Analysis
2.4.1 Secondary Research
2.4.2 Primary Research
2.4.3 Models for Estimation
2.5 Market Size Estimation
2.5.1 Bottom-Up Approach - Segmental Market Analysis
2.5.2 Top-Down Approach - Parent Market Analysis
4.1 Introduction
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Challenges
4.2 Porter's Five Force Analysis
5.1 Introduction
5.2 Off-grid
5.2.1 Market Overview
5.2.2 Market Size and Forecast
5.3 On-grid
5.3.1 Market Overview
5.3.2 Market Size and Forecast
6.1 Introduction
6.2 Utility owned
6.2.1 Market Overview
6.2.2 Market Size and Forecast
6.3 Third-party owned
6.3.1 Market Overview
6.3.2 Market Size and Forecast
6.4 Customer owned
6.4.1 Market Overview
6.4.2 Market Size and Forecast
7.1 Introduction
7.2 Lead–Acid
7.2.1 Market Overview
7.2.2 Market Size and Forecast
7.3 Lithium-ion
7.3.1 Market Overview
7.3.2 Market Size and Forecast
8.1 Introduction
8.2 6–10 kW
8.2.1 Market Overview
8.2.2 Market Size and Forecast
8.3 3–6 kW
8.3.1 Market Overview
8.3.2 Market Size and Forecast
9.1 Introduction
9.2 Solar and storage
9.2.1 Market Overview
9.2.2 Market Size and Forecast
9.3 Standalone systems
9.3.1 Market Overview
9.3.2 Market Size and Forecast
10.1 Introduction
10.2 North America
10.2.1 North America Market, By Connectivity Type
10.2.2 North America Market, By Ownership Type
10.2.3 North America Market, By Technology
10.2.4 North America Market, By Power Rating
10.2.5 North America Market, By Operation Type
10.3 Europe
10.3.1 Europe Market, By Connectivity Type
10.3.2 Europe Market, By Ownership Type
10.3.3 Europe Market, By Technology
10.3.4 Europe Market, By Power Rating
10.3.5 Europe Market, By Operation Type
10.4 Asia-Pacific
10.4.1 Asia-Pacific Market, By Connectivity Type
10.4.2 Asia-Pacific Market, By Ownership Type
10.4.3 Asia-Pacific Market, By Technology
10.4.4 Asia-Pacific Market, By Power Rating
10.4.5 Asia-Pacific Market, By Operation Type
10.5 Rest of the World
10.5.1 Rest of the World Market, By Connectivity Type
10.5.2 Rest of the World Market, By Ownership Type
10.5.3 Rest of the World Market, By Technology
10.5.4 Rest of the World Market, By Power Rating
10.5.5 Rest of the World Market, By Operation Type
11.1 Key Insights
11.2 Company Market Share Analysis
11.3 Strategic Outlook
11.3.1 Mergers & Acquisitions
11.3.2 New Product Development
11.3.3 Portfolio/Production Capacity Expansions
11.3.4 Joint Ventures, Collaborations, Partnerships & Agreements
11.3.5 Others
The global Residential Energy Storage market has been segmented as below:
By Connectivity Type
By Ownership Type
By Technology
By Power Rating
By Operation Type
By Region
Residential Energy Storage Market, By Company