Residential Energy Storage Market Size, Share, and Growth Analysis, By Power Rating (3 to 6 KW, 7 to 10 KW), By Technology (Lead-acid, Lithium-ion), By Ownership, By Connectivity Type, By System Type, By Region - Industry Forecast 2025-2032
SolaX Power Network Technology(Zhejiang) Co., Ltd.(China)
SMA Solar Technology AG(Germany)
Saft Groupe S.A.(France)
Eaton Corporation plc(Ireland)
Delta Electronics, Inc.(Taiwan)
Hitachi Energy Ltd.(Switzerland)
Exide Industries Ltd.(India)
SolarEdge Technologies Inc.(Israel)
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Global Residential Energy Storage Market size was valued at USD 2.56 billion in 2023 and is poised to grow from USD 2.8 billion in 2024 to USD 5.79 billion by 2032, growing at a CAGR of 9.5% during the forecast period (2025-2032).
The residential energy storage market is experiencing significant growth driven by increased grid strain and the intermittent nature of renewable energy sources. Aging infrastructure and severe weather events are exacerbating challenges within energy delivery, leading utilities to adopt residential storage solutions to enhance grid reliability and resilience. Factors fueling this trend include decreasing costs, the necessity for uninterrupted power, and incentives tied to solar and storage systems. Additionally, the push for electric vehicle adoption and the need for reliable power in remote areas further bolster market opportunities. However, barriers such as high capital costs for homeowners and challenges related to battery disposal and recycling standards may impede growth, highlighting the need for improved solutions and investment strategies within the sector.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Residential Energy Storage market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Residential Energy Storage Market Segments Analysis
Global Residential Energy Storage Market is segmented by Power Rating, Technology, Ownership, Connectivity Type, System Type and region. Based on Power Rating, the market is segmented into 3 to 6 KW, 7 to 10 KW and 10 to 20 KW. Based on Technology, the market is segmented into Lead-acid and Lithium-ion. Based on Ownership, the market is segmented into Customer-owned, Utility-owned and Third-party-owned. Based on Connectivity Type, the market is segmented into On-grid and Off-grid. Based on System Type, the market is segmented into Standalone Systems and Solar And Storage Systems. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Global Residential Energy Storage Market
The global residential energy storage market is poised for significant growth, driven primarily by the increasing frequency of load shedding worldwide. This practice, which involves a temporary interruption of electricity supply from the main grid to select areas, is particularly prevalent in developing and underdeveloped countries where grid systems are under considerable stress. Load shedding often occurs during peak summer months as a precautionary measure to avoid prolonged blackouts. As households seek reliable energy solutions and self-sufficiency in their power sources, the demand for residential energy storage systems is expected to rise, providing a viable response to these pressing energy challenges.
Restraints in the Global Residential Energy Storage Market
The residential energy storage market faces a considerable obstacle due to the high initial costs of energy storage systems. Although advancements in technology have led to decreasing prices over time, the significant upfront investment required for purchasing and installing these systems continues to be a barrier. This initial expenditure encompasses not only the price of the battery units but also additional costs related to installation, such as necessary electrical modifications and system integration. As a result, the financial burden associated with these energy storage solutions can deter potential consumers from adopting residential energy storage systems, impacting overall market growth.
Market Trends of the Global Residential Energy Storage Market
The global residential energy storage market is on an upward trajectory, fueled by escalating investments in solar energy devices. As consumers face rising power costs, the shift towards sustainable electricity generation and storage becomes paramount. Innovations in solar panel technology, alongside heightened government incentives, are significantly boosting the adoption of residential solar systems. This trend underscores a broader transition towards renewable energy, with energy storage solutions becoming integral for maximizing solar efficiency. Consequently, the synergy between enhanced solar technology and residential energy storage is poised to create robust growth opportunities, making it a key area of focus for investors and stakeholders in the energy sector.
Table of Contents
Introduction
Objectives of the Study
Scope of the Report
Definitions
Research Methodology
Information Procurement
Secondary & Primary Data Methods
Market Size Estimation
Market Assumptions & Limitations
Executive Summary
Global Market Outlook
Supply & Demand Trend Analysis
Segmental Opportunity Analysis
Market Dynamics & Outlook
Market Overview
Market Size
Market Dynamics
Drivers & Opportunities
Restraints & Challenges
Porters Analysis
Competitive rivalry
Threat of substitute
Bargaining power of buyers
Threat of new entrants
Bargaining power of suppliers
Key Market Insights
Key Success Factors
Degree of Competition
Top Investment Pockets
Market Ecosystem
Market Attractiveness Index, 2024
PESTEL Analysis
Macro-Economic Indicators
Value Chain Analysis
Pricing Analysis
Global Residential Energy Storage Market Size by Power Rating & CAGR (2025-2032)
Market Overview
3 to 6 KW
7 to 10 KW
10 to 20 KW
Global Residential Energy Storage Market Size by Technology & CAGR (2025-2032)
Market Overview
Lead-acid
Lithium-ion
Global Residential Energy Storage Market Size by Ownership & CAGR (2025-2032)
Market Overview
Customer-owned
Utility-owned
Third-party-owned
Global Residential Energy Storage Market Size by Connectivity Type & CAGR (2025-2032)
Market Overview
On-grid
Off-grid
Global Residential Energy Storage Market Size by System Type & CAGR (2025-2032)
Market Overview
Standalone Systems
Solar And Storage Systems
Global Residential Energy Storage Market Size & CAGR (2025-2032)
North America (Power Rating, Technology, Ownership, Connectivity Type, System Type)
US
Canada
Europe (Power Rating, Technology, Ownership, Connectivity Type, System Type)
Germany
Spain
France
UK
Italy
Rest of Europe
Asia Pacific (Power Rating, Technology, Ownership, Connectivity Type, System Type)
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America (Power Rating, Technology, Ownership, Connectivity Type, System Type)
Brazil
Rest of Latin America
Middle East & Africa (Power Rating, Technology, Ownership, Connectivity Type, System Type)
GCC Countries
South Africa
Rest of Middle East & Africa
Competitive Intelligence
Top 5 Player Comparison
Market Positioning of Key Players, 2024
Strategies Adopted by Key Market Players
Recent Developments in the Market
Company Market Share Analysis, 2024
Company Profiles of All Key Players
Company Details
Product Portfolio Analysis
Company's Segmental Share Analysis
Revenue Y-O-Y Comparison (2022-2024)
Key Company Profiles
Tesla, Inc. (United States)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Enphase Energy, Inc. (United States)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Sunrun Inc. (United States)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Sunnova Energy International Inc. (United States)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Vistra Corp. (United States)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Panasonic Holdings Corporation (Japan)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Samsung SDI Co., Ltd. (South Korea)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
LG Energy Solution Ltd. (South Korea)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
BYD Company Ltd. (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Huawei Technologies Co., Ltd. (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
GoodWe Technologies Co., Ltd. (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
SolaX Power Network Technology (Zhejiang) Co., Ltd. (China)