404
+1-313-307-4176
sales@stratviewresearch.com
Solar Energy Storage Market Report
Solar Energy Storage Market Size, Share, Trends, Forecast, & Growth Analysis: 2022-2028
"The global solar energy storage market size was estimated at USD 0.416 billion in 2021 and is likely to grow at a CAGR of 35.7% during 2022-2028 to reach USD 3.528 billion in 2028."
Want to know more about the market scope? Click here
Solar energy is stored in a battery by pumping solar energy into the battery to initiate a chemical reaction among the components of the battery.
|
Solar Energy Storage Market Report Overview |
|
|
Market Size in 2028 |
USD 3.528 Billion |
|
Market Size in 2021 |
USD 0.416 Billion |
|
Market Growth (2022-2028) |
CAGR of 35.7% |
|
Base Year of Study |
2021 |
|
Trend Period |
2016-2020 |
|
Forecast Period |
2022-2028 |
Major factors such as increasing concern toward environmental problems and stringent government regulations to reduce carbon emissions and energy conservation are likely to contribute to the growth of the market.
Furthermore, the growing utilization of non-conventional energy sources, increasing demand for electricity, competition for lower-cost energy, etc. will stimulate the growth of the market during the forecast period.
|
Segmentations |
List of Sub-Segments |
Dominant and Fastest-Growing Segments |
|
Composition-Type Analysis |
Lead Acid, Lithium Ion, Flow Battery, and Others |
The lead acid battery storage segment is expected to witness a significant growth rate in the market during the assessment period. |
|
Capacity-Type Analysis |
Up to 50kW, 51 to 250 kW, 251 to 500 kW, 501 to 1000 kW, 1001 to 2500 kW, 2501 to 5000 kW, 5001 to 10000 kW, and >10000 kW |
The >10000 kW capacity type is expected to register a high growth rate in the market. |
|
Installation-Type Analysis |
On-grid and Off-grid |
Off-grid installation is estimated to account for the major share of the market during the assessment period. |
|
Regional Analysis |
North America, Europe, Asia-Pacific, and Rest of the World |
Asia-Pacific is expected to lead the market during the forecast period. |
"The lead acid segment accounted for the largest market share."
The market is segmented as lead acid, lithium-ion, flow battery, and others. The lead acid battery storage segment is expected to witness a significant growth rate in the market during the assessment period owing to its good cost-performance ratio across a broad range of applications. Furthermore, lead acid batteries are the first rechargeable batteries to be deployed in wide-scale uses, thereby driving the growth of the segment.
"The >10000 kW segment accounted for the largest market share."
The market is segmented as up to 50kW, 51 to 250 kW, 251 to 500 kW, 501 to 1000 kW, 1001 to 2500 kW, 2501 to 5000 kW, 5001 to 10000 kW, and >10000 kW. The >10000 kW capacity type is expected to register a high growth rate in the market owing to the increasing support of governments from a large number of countries for variable renewable energy. Unification of ancillary services to grids will stimulate market growth.
"The off-grid segment accounted for the largest market share."
The market is segmented as on-grid and off-grid. Off-grid installation is estimated to account for the major share of the market during the assessment period on account of being a cost-effective solution fulfilling the demand for electricity. Due to low technological cost, this installation is developing rapidly. The optimistic outlook of the industry owing to positive responses from consumers for sustainable energy usage will boost the market growth.
"Asia-Pacific accounted for the largest market share."
Asia-Pacific is expected to lead the market during the forecast period. The region’s market is driven by rising environmental concerns and growing energy demand, which are the two crucial parameters expected to drive the growth of the market in the Asia-Pacific region. China and India are the growth engines of the region. In addition, Japan is contributing enormously to the solar energy battery storage system market. The government of Japan is aiming to make local companies capable of holding ~50% share of the world’s battery storage market by 2020. North America and Europe are also expected to offer substantial growth opportunities during the assessment period.
To get the scope of competitive landscapes, Click here.
The following are the key players in the solar energy storage market (arranged alphabetically).
Note: The above list does not necessarily include all the top players in the market.
Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s solar energy storage market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision making for the existing players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
|
Key questions this report answers |
Relevant contents in the report |
|
How big is the sales opportunity? |
In-depth Analysis of the Solar Energy Storage Market |
|
How lucrative is the future? |
Market forecast and trend data and emerging trends |
|
Which regions offer the best sales opportunities? |
Global, regional, and country-level historical data and forecasts |
|
Which are the most attractive market segments? |
Market Segment Analysis and Forecast |
|
Which are the top players and their market positioning? |
Competitive landscape analysis, Market share analysis |
|
How complex is the business environment? |
Porter’s five forces analysis, PEST analysis, Life cycle analysis |
|
What are the factors affecting the market? |
Drivers & challenges |
|
Will I get the information on my specific requirement? |
10% free customization |
The solar energy storage market is segmented into the following categories.
By Composition Type
By Capacity Type
By Installation Type
By Region
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
SWOT analysis of key players (up to 3 players)
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.
Solar energy is stored in a battery by pumping solar energy into the battery to initiate a chemical reaction among the components of the battery.
The solar energy storage market was estimated at USD 416.4 million in 2021.
The solar energy storage market is likely to reach USD 3528.33 million in 2028.
The solar energy storage market is likely to grow at a CAGR of 35.7% during 2022-2028.
Asia-Pacific is expected to lead the market during the forecast period 2022-28.
BMW, BYD, Kokam, Carnegie Clean Energy, Primus Power, Maxwell Technologies, Samsung, LG Chem, EnerSys, Leclanche, BAE, Saft, FIAMM, Vionx, Adara Power, Aquion, and Ecoult are the key companies in the market.
The lead acid battery storage segment is expected to witness significant growth rate in the market during the forecast period.
The drivers of the market is Increasing concern toward environmental problems and stringent governments’ regulations to reduce carbon emission and energy conservation are likely to contribute to the growth of the market.
WE ACCEPT
