Global Solar Battery Market Information By Type (Lithium-Ion, Lead-acid, Flow Battery) By End Use (Industrial, Residential, Commercial) and By Region Forecast to 2030
The Solar Battery Market industry is anticipated to experience a compound annual growth rate (CAGR) of 18.5% from USD 214.52 million in 2023 to USD 734.46 million by 2030. Solar batteries are employed to store solar energy. In essence, an inverter is utilized to implement a solar battery. Furthermore, it is capable of being recharged and can be integrated into solar panel systems.
The Solar Battery Market is experiencing growth due to the increasing demand for energy solutions that are both cost-effective and environmentally favorable for industrial and commercial energy storage. Furthermore, the demand for solar batteries has increased among all end consumers in developed countries, such as the United States, due to the growing awareness of clean energy. Furthermore, the commercial solar battery market is significantly impacted by ongoing infrastructural investments and smart city initiatives. Furthermore, the utilization of solar batteries can significantly mitigate carbon footprints. The implementation of solar batteries has the potential to reduce a nation's reliance on imported fossil energy resources and achieve energy independence. Additionally, it is anticipated that the investment opportunities will increase during the forecast period due to the increasing interest of industry participants in renewable energy storage solutions. For example, the United Kingdom and Portugal are promoting capacity auctions for solar battery storage in lieu of conventional energy storage systems. In recent years, the demand for renewable energy has increased exponentially in countries due to the growing need to reduce greenhouse gas (GHG) emissions. This trend is anticipated to continue in the future. This, in turn, will stimulate the adoption of batteries by expanding the solar battery market. For example, in 2019, Germany established a new objective to generate 20GW of energy through offshore wind power by the end of 2030. This initiative attracted investments to support the development of energy storage systems in the country and stimulated the market.
Market segment insights
The solar battery market has been segmented into three types: lithium-ion, lead-acid, and flow battery.
The Solar Battery Market is segmented into Industrial, Residential, and Commercial based on End Use.
Regional Perspectives
During the forecast period, the Asia-Pacific Solar Battery market is anticipated to account for a substantial revenue share and maintain the highest market share. The Asia Pacific solar battery market will experience growth due to the implementation of stringent regulations by government bodies to limit carbon emissions and the increasing industrialization. China, India, Japan, South Korea, Australia, and the remaining Asia-Pacific nations comprise the region. China is the primary dominator of the Asia-Pacific solar battery market as a result of the substantial foreign investments in the solar energy sector. Furthermore, the industrial and power sectors exhibit substantial demand for the product. Additionally, the market is expected to expand during the projected timeframe due to the increasing demand for sustainable energy sources in a variety of end-user industries.
Major Players
LG Corp, Contemporary Amperex Technology Co Ltd, Tesla, Inc, Loom Solar, Panasonic Corporation, BYD company, EnerSys, Exide Industries Limited, Okaya Power Group, Amara Raja Batteries Limited, Luminous Power Technologies, HBL Power Systems Limited, Base Batteries, Eastman Auto & Power Limited, and BAE Batteries GmbH are the primary players in the Solar Battery Market.
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
1.1 MARKET ATTRACTIVENESS ANALYSIS
1.1.1 GLOBAL SOLAR BATTERY MARKET, BY TYPE
1.1.2 GLOBAL SOLAR BATTERY MARKET, BY END USE
1.1.3 GLOBAL SOLAR BATTERY MARKET, BY REGION
2 MARKET INTRODUCTION
2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 MARKET STRUCTURE
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.2 PRIMARY RESEARCH
3.3 SECONDARY RESEARCH
3.4 MARKET SIZE ESTIMATION
3.5 TOP DOWN & BOTTOM UP APPROACH
3.6 FORECAST MODEL
3.7 LIST OF ASSUMPTIONS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 DRIVERS
4.2.1 RISE IN DEMAND FOR ECO-FRIENDLY AND COST-EFFECTIVE ENERGY SOLUTIONS
4.2.2 GROWING INTEREST OF INDUSTRY PLAYERS TOWARD RENEWABLE ENERGY STORAGE SOLUTIONS
4.2.3 DRIVERS IMPACT ANALYSIS
4.3 CHALLENGE
4.3.1 HIGH INITIAL INSTALLATION COST AND VARIABLE AMOUNT OF SUN RAYS
4.3.2 CHALLENGE IMPACT ANALYSIS
4.4 OPPORTUNITIES
4.4.1 ADVANCEMENT TECHNOLOGIES IN ENERGY BACKUP SYSTEMS
4.5 TECHNOLOGY AND INVESTMENT SCENARIO
4.5.1 TECHNOLOGY TRENDS
4.5.1.1 ARTIFICIAL INTELLIGENCE (AI)
4.5.1.2 FLOATING SOLAR PHOTOVOLTAIC PLANTS
4.5.1.3 BLOCKCHAIN
4.5.2 INVESTMENT SCENARIO
4.6 REGULATIONS / POLICIES
4.6.1 NORTH AMERICA
4.6.1.1 FEDERAL INITIATIVES/POLICY
4.6.1.2 REGULATION
4.6.2 EUROPE
4.6.2.1 FIT FOR A SOLAR FUTURE
4.6.3 ASIA PACIFIC
4.6.3.1 CHINA
4.6.3.2 INDIA
4.6.3.3 JAPAN
4.6.4 MENA
4.6.5 GLOBAL POLICIES/REGULATION ON SOLAR INDUSTRY
4.7 MACRO INDUSTRY TRENDS
4.8 INFRASTRUCTURE RELATED WORK PROJECTS
4.8.1 COLLABORATIONS AND M&A ACTIVITY
4.8.2 TARGETS & INITIATIVES
4.9 IMPACT OF COVID-19 ON THE GLOBAL SOLAR BATTERY MARKET
5 MARKET FACTOR ANALYSIS
5.1 SUPPLY/VALUE CHAIN ANALYSIS
5.1.1 RAW MATERIAL
5.1.2 CELL COMPONENTS PRODUCTION/MANUFACTURING
5.1.3 ASSEMBLY
5.1.4 END-USER
5.2 PORTER'S FIVE FORCES MODEL
5.2.1 THREAT OF NEW ENTRANTS
5.2.2 BARGAINING POWER OF SUPPLIERS
5.2.3 BARGAINING POWER OF BUYERS
5.2.4 THREAT OF SUBSTITUTES
5.2.5 INTENSITY OF RIVALRY
6 GLOBAL SOLAR BATTERY MARKET, BY TYPE
6.1 OVERVIEW
6.2 LITHIUM-ION
6.3 LEAD-ACID
6.4 FLOW BATTERY
7 GLOBAL SOLAR BATTERY MARKET, BY END USE
7.1 OVERVIEW
7.2 INDUSTRIAL
7.3 COMMERCIAL
7.4 RESIDENTIAL
8 GLOBAL SOLAR BATTERY MARKET, BY REGION
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 US
8.2.2 CANADA
8.2.3 MEXICO
8.3 EUROPE
8.3.1 SPAIN
8.3.2 GERMANY
8.3.3 RUSSIA
8.3.4 FRANCE
8.3.5 UNITED KINGDOM
8.3.6 ITALY
8.3.7 NETHERLANDS
8.3.8 POLAND
8.3.9 REST OF EUROPE
8.4 ASIA PACIFIC
8.4.1 CHINA
8.4.2 INDIA
8.4.3 JAPAN
8.4.4 AUSTRALIA
8.4.5 MALAYSIA
8.4.6 REST OF ASIA-PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 SAUDI ARABIA
8.5.2 UAE
8.5.3 SOUTH AFRICA
8.5.4 REST OF MIDDLE EAST & AFRICA
8.6 SOUTH AMERICA
8.6.1 BRAZIL
8.6.2 ARGENTINA
8.6.3 CHILE
8.6.4 REST OF SOUTH AMERICA
9 COMPETITIVE LANDSCAPE
9.1 COMPETITIVE OVERVIEW
9.2 GLOBAL PCB DESIGN SOFTWARE MARKET: COMPANY SHARE ANALYSIS
9.3 MAJOR GROWTH STRATEGY IN THE GLOBAL SOLAR BATTERY MARKET
9.4 COMPETITIVE BENCHMARKING
10 COMPANY PROFILES
10.1 TESLA
10.1.1 COMPANY OVERVIEW
10.1.2 FINANCIAL OVERVIEW
10.1.3 PRODUCTS OFFERED
10.1.4 KEY DEVELOPMENTS
10.1.5 SWOT ANALYSIS
10.1.6 KEY STRATEGIES
10.2 LG CORP
10.2.1 COMPANY OVERVIEW
10.2.2 FINANCIAL OVERVIEW
10.2.3 PRODUCTS OFFERED
10.2.4 KEY DEVELOPMENTS
10.2.5 SWOT ANALYSIS
10.2.6 KEY STRATEGIES
10.3 CATL
10.3.1 COMPANY OVERVIEW
10.3.2 FINANCIAL OVERVIEW
10.3.3 PRODUCTS OFFERED
10.3.4 KEY DEVELOPMENTS
10.3.5 KEY STRATEGIES
10.4 LOOM SOLAR
10.4.1 COMPANY OVERVIEW
10.4.2 FINANCIAL OVERVIEW
10.4.3 PRODUCTS OFFERED
10.4.4 KEY DEVELOPMENTS
10.4.5 KEY STRATEGIES
10.5 PANASONIC
10.5.1 COMPANY OVERVIEW
10.5.2 FINANCIAL OVERVIEW
10.5.3 PRODUCTS OFFERED
10.5.4 KEY DEVELOPMENTS
10.5.5 SWOT ANALYSIS
10.5.6 KEY STRATEGIES
10.6 BAE BATTERIES GMBH
10.6.1 COMPANY OVERVIEW
10.6.2 FINANCIAL OVERVIEW
10.6.3 PRODUCTS OFFERED
10.6.4 KEY DEVELOPMENTS
10.6.5 KEY STRATEGIES
10.7 BYD COMPANY
10.7.1 COMPANY OVERVIEW
10.7.2 FINANCIAL OVERVIEW
10.7.3 PRODUCTS OFFERED
10.7.4 KEY DEVELOPMENTS
10.7.5 SWOT ANALYSIS
10.7.6 KEY STRATEGIES
10.8 ENERSYS
10.8.1 COMPANY OVERVIEW
10.8.2 FINANCIAL OVERVIEW
10.8.3 PRODUCTS OFFERED
10.8.4 KEY DEVELOPMENTS
10.8.5 SWOT ANALYSIS
10.8.6 KEY STRATEGIES
10.9 LUMINOUS
10.9.1 COMPANY OVERVIEW
10.9.2 FINANCIAL OVERVIEW
10.9.3 PRODUCTS OFFERED
10.9.4 KEY DEVELOPMENTS
10.9.5 KEY STRATEGIES
10.10 EXIDE
10.10.1 COMPANY OVERVIEW
10.10.2 FINANCIAL OVERVIEW
10.10.3 PRODUCTS OFFERED
10.10.4 KEY DEVELOPMENTS
10.10.5 SWOT ANALYSIS
10.10.6 KEY STRATEGIES
10.11 OKAYA
10.11.1 COMPANY OVERVIEW
10.11.2 FINANCIAL OVERVIEW
10.11.3 PRODUCTS OFFERED
10.11.4 KEY DEVELOPMENTS
10.11.5 KEY STRATEGIES
10.12 AMARON
10.12.1 COMPANY OVERVIEW
10.12.2 FINANCIAL OVERVIEW
10.12.3 PRODUCTS OFFERED
10.12.4 KEY DEVELOPMENTS
10.12.5 KEY STRATEGIES
10.13 HBL POWER
10.13.1 COMPANY OVERVIEW
10.13.2 FINANCIAL OVERVIEW
10.13.3 PRODUCTS OFFERED
10.13.4 KEY DEVELOPMENTS
10.13.5 SWOT ANALYSIS
10.13.6 KEY STRATEGIES
10.14 BASE BATTERIES
10.14.1 COMPANY OVERVIEW
10.14.2 FINANCIAL OVERVIEW
10.14.3 PRODUCTS OFFERED
10.14.4 KEY DEVELOPMENTS
10.14.5 KEY STRATEGIES
10.15 EASTMAN
10.15.1 COMPANY OVERVIEW
10.15.2 FINANCIAL OVERVIEW
10.15.3 PRODUCTS OFFERED
10.15.4 KEY DEVELOPMENTS
10.15.5 KEY STRATEGIES
11 GLOBAL BUILDING INTEGRATED PHOTOVOLTAICS (BIPV) MARKET
11.1 GLOBAL BUILDING INTEGRATED PHOTOVOLTAICS (BIPV) MARKET, BY REGION,-2030 (USD MILLION)