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    Solar Energy Storage Market Report

    Solar Energy Storage Market Report
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    Solar Energy Storage Market Size, Share, Trend, Forecast, & Industry Analysis – See more...

    Impact of COVID-19 on Solar Energy Storage Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Solar Energy Storage Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    Solar Energy Storage Market is likely to witness an impressive CAGR of 35.7% during the forecast period. Major factors such as 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. Furthermore, growing utilization of non-conventional energy sources, increasing demand for electricity, competition for lower cost energy, etc. will stimulate the growth of the solar energy storage market during the forecast period.

    Solar Energy Storage Market – Snapshot

    Growth

    35.7% for the next five years

    Major Composition Type

    Lead Acid  

    Major Capacity Type

    >10000 kW

    Major Installation Type

    Off-grid

    Region with the highest demand

    Asia-Pacific

    Key Players

    BMW, BYD, Kokam, Carnegie Clean Energy, Primus Power, Maxwell Technologies, Samsung, LG Chem, EnerSys, Leclanche, BAE, Saft, FIAMM, Vionx, Adara Power, Aquion, and Ecoult

    Segments' Analysis

    Solar-Energy-Storage-Market-Dominant-Segments

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    Solar Energy Storage Market Share: By Composition Type

    Based on the composition type, the market is segmented as lead acid, lithium ion, flow battery, and others. The lead acid battery storage segment is expected to witness significant growth rate in the market during the forecast 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.

    Solar Energy Storage Market Share: By Capacity Type

    Based on the capacity type, 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 high growth rate in the market owing to the increasing support of governments from large number of countries for variable renewable energy. Unification of ancillary services to grids will stimulate the market growth.

    Solar Energy Storage Market Share: By Installation Type

    Based on the installation type, 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 forecast period on account of being a cost-effective solution fulfilling the demand for electricity. Due to low technological cost, this installation is developing rapidly. Optimistic outlook of the industry owing to positive response from consumers for sustainable energy usage will boost the market growth.

    Solar Energy Storage Market Share: By Region

    In terms of regions, 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 being 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 the 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 forecast period.

    Solar-Energy-Storage-Market-By-Region

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    Market Scope & Segmentation

    Solar energy is stored in a battery by pumping solar energy into battery to initiate a chemical reaction among the component of the battery.

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    Solar Energy Storage Market Research Report - Features

    Market Segmentation

    4

    Regions Covered

    4

    Countries/Sub-Regions Covered

    17

    No. of Figures & Tables

    >150

    Company Profiles

    10

     

    The solar energy storage market is segmented into the following categories.

    Solar Energy Storage Market Size, Share, & Forecast, by Composition Type:

    • Lead Acid (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Lithium Ion (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Flow Battery (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Solar Energy Storage Market Size, Share, & Forecast, by Capacity Type:

    • Up to 50kW (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • 51 to 250 kW (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • 251 to 500 kW (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • 501 to 1000 kW (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • 1001 to 2500 kW (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • 2501 to 5000 kW (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • 5001 to 10000 kW (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • >10000 kW (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Solar Energy Storage Market Size, Share, & Forecast, by Installation Type:

    • On-grid (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Off-grid (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Solar Energy Storage Market Size, Share, & Forecast, by Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Key Players

    Some of the key players in the solar energy storage market are-

    • BMW
    • BYD
    • Kokam
    • Carnegie Clean Energy
    • Primus Power
    • Maxwell Technologies
    • Samsung
    • LG Chem
    • EnerSys
    • Leclanche
    • BAE
    • Saft
    • FIAMM
    • Vionx
    • Adara Power
    • Aquion
    • Ecoult.

    Research Methodology

    This report offers high-quality insights and is the outcome of 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 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

    Report Features

    This report provides market 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 market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation by any one of the capacity types by installation type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    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 at [email protected].

    Frequently Asked Questions (FAQs)

    The solar energy storage market is expected to witness an impressive growth of 35.7% CAGR in the foreseeable future.

    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 among the key players in the solar energy storage market.

    Asia-pacific is expected to lead the solar energy storage market during the forecast period.

    Off-grid installation is expected to account for the major share in the solar energy storage market in the coming years.

    The >10000 kW capacity type is expected to register high growth rate in the solar energy storage market during the next five years.

    The lead acid battery storage segment is expected to witness significant growth rate in the solar energy storage market in the coming years.

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