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Solar Battery Market by Type (Lead Acid, Lithium Ion, Flow Battery, and Others) and End-User (Industrial, Commercial, and Residential): Global Opportunity Analysis and Industry Forecast, 2020–2027

A11115
Pages: 269
Apr 2021 | 258 Views
 
Author(s) : Ayushi Choudhary , Eswara Prasad
Tables: 165
Charts: 43
 

COVID-19

Pandemic disrupted the entire world and affected many industries.

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Solar Battery Statistics - 2027 

Global solar battery market size was valued at $113.4 million in 2019, and is projected to reach $360.4 million by 2027, growing at a CAGR of 15.5% from 2020 to 2027. Solar battery is generally used to store solar power and discharge the power as per requirement. It is made of lithium ion or lead acid. Solar battery is rechargeable and can be generally used in solar cell systems to store excess energy. Some of the major applications of solar battery include solar charging stations, storage for power plants, and storage system for off-grids.

Significant surge in demand for eco-friendly and cost-effective energy solutions for industrial and commercial energy storage is expected to drive the market growth. Moreover, it is highly effective to reduce carbon footprint. As governments across the globe are promoting sustainable energy sources, the demand for solar battery is expected to increase during the projected timeframe. The implementation of solar battery in the residential and commercial sectors makes them energy independent and increase the self-reliance of the owner. In residential areas, it can reduce the usage of grid power in small-scale applications. This approach can further reduce the monthly electricity bill; thus attracting new consumers. Furthermore, growing interest of industry players toward renewable energy storage solutions is expected to secure new investments over the forecast timeframe. For instance, in 2020, one of the battery storage operators in Italy was awarded a contract of 95 MW solar battery storage for 2022-23 delivery. 

Solar-Battery-Market-2020-2027

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Moreover, countries, such as the UK and Portugal, are encouraging capacity auctions for solar battery storage. Such developments will positively impact the market growth. However, the initial installation cost and high maintenance cost of solar battery are the major challenges for industry players. At the current stage, solar battery storage is highly dependent on government tax credit and subsidy schemes. In addition, the system’s water must be changed daily and the water must be distilled water. Attributed to such factors, the application of solar battery is limited for small residential areas.

Nonetheless, the growing prominence of energy trading with block chain and AI technologies opened new market opportunities. This will provide the owner of solar battery and solar PV systems a new opportunity to export the excess energy and sell it at premium price.

The global solar battery market is segmented on the basis of type, end-user, and region. On the basis of type, it is divided into lead acid, lithium ion, flow battery, and others. Based on end-user, the market is classified into industrial, commercial, and residential. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Major players have adopted business expansion, merger, and acquisition to sustain the intense market competition. Some of the key players profiled in the report include BYD Company, Kokam.Co, Carnegie Clean Energy, Primus Power, LG Chem, and EnerSys.

Solar Battery Market
By Region

2027
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific exhibits highest CAGR of 17.3%

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Asia-Pacific accounted for the highest revenue share in 2019, owing to rise in concern from governments across emerging nations, such as China, India, and South Korea, regarding renewable energy storage. This is expected to drive the solar battery market growth. Moreover, China being the largest producer of solar power will positively influence the demand for solar battery in this region. 

Solar Battery Market
By Type

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Lead Acid is projected as the most lucrative segment

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The lithium ion segment accounted for highest revenue share in 2019. This is attributed to high charge and discharge efficiencies of lithium ion batteries, which help in harvesting large amount of energy. For instance, the average efficiency of lithium ion battery is 90-95%, whereas for lead acid it is around 80-85%.

Solar Battery Market
By End-User

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Commercial is projected as the most lucrative segment

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The industrial segment accounted for the highest revenue share in 2019. This is attributed to strong demand from various industrial end-users for additional energy storage solutions. Moreover, new incentive and tax credit schemes from governments will further attract new end-users in this sector.

COVID-19 scenario analysis

  • The global solar battery market had immediate impact of COVID-19 due to social distancing norms and shortage of manpower. These led to delayed installations and cancellation of new projects. 
  • In addition, the sharp decline in consumer expenditure highly affected the demand. Reduced expenditure of consumers during the lockdown highly impacted the solar battery market for solar products, including various solar storage systems.
  • Moreover, the upstream and downstream channels have been affected due to restrictions on movement, which lead to increase in the amount of inventories.
  • Furthermore, high dependency on Chinese exports for solar cell, solar battery, and solar module negatively impacted the market. India imports around 80% of its solar products from China. As the manufacturing firms in China were idle for the last 6-7 months, it highly impacted the production process in India. 
  • However, shifting trend toward remote working is considered a vital solution to improve the solar battery market conditions. Various automation companies utilize remote connectivity to ensure the access to field operators and service engineers who cannot be on site at this time. 
  • These companies are providing control room livestreams, process data, operational insights, and plant key performance indicators to users sheltering at home. Such developments are expected to provide new market opportunities in post COVID-19 period.

Key benefits for stakeholders

  • The global solar battery market analysis covers in-depth information of major industry participants.
  • Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the solar battery industry for strategy building.
  • Major countries have been mapped according to their individual revenue contribution to the regional market.
  • The report provides in-depth analysis of the global solar battery market forecast for the period 2020–2027.
  • The report outlines the current global solar battery market trends and future estimations of the market from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets. 
  • The key drivers, restraints, & market opportunity and their detailed impact analysis are explained in the study.

Solar Battery Market Key segments

By Type

  • Lead Acid
  • Lithium Ion
  • Flow Battery
  • Others

By End-User

  • Industrial
  • Commercial
  • Residential

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA
 

CHAPTER 1:INTRODUCTION

1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Research methodology

1.4.1.Primary research
1.4.2.Secondary research
1.4.3.Analyst tools and models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.Key findings of the study
2.2.Key findings

2.2.1.Top investment pockets

2.3.CXO perspective

CHAPTER 3:MARKET OVERVIEW

3.1.Market definition and scope
3.2.Key forces shaping global Solar Battery Market
3.3.Market dynamics

3.3.1.Drivers

3.3.1.1.Significant surge in demand for eco-friendly energy solutions
3.3.1.2.Growing interest of industry players toward renewable energy storage solutions
3.3.1.3.Self-reliance of energy owner

3.3.2.Restraint

3.3.2.1.High initial installation and maintenance cost

3.3.3.Opportunities

3.3.3.1.Growing prominence of energy trading

3.4.Value chain analysis
3.5.Patent analysis

3.5.1.By countries, 2012–2020

3.6.Impact of COVID-19 outbreak on the Solar Battery Market

CHAPTER 4:GLOBAL SOLAR BATTERY MARKET, BY TYPE

4.1.Overview

4.1.1.Market size and forecast

4.2.Lithium ion

4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region

4.3.Lead Acid

4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast

4.4.Flow battery

4.4.1.Key market trends, growth factors, and opportunities
4.4.2.Market size and forecast

4.5.Others

4.5.1.Key market trends, growth factors, and opportunities
4.5.2.Market size and forecast

CHAPTER 5:GLOBAL SOLAR BATTERY MARKET, BY END USER

5.1.Overview

5.1.1.Market size and forecast

5.2.Industrial

5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast

5.3.Commercial

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast

5.4.Residential

5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast

CHAPTER 6:SOLAR BATTERY MARKET, BY REGION

6.1.Overview

6.1.1.Market size and forecast, by region

6.2.North America

6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, By Type
6.2.3.Market size and forecast, by end-user
6.2.4.Market analysis, by country

6.2.5.U.S.

6.2.5.1.Market size and forecast, By Type
6.2.5.2.Market size and forecast, by end-user

6.2.6.Canada

6.2.6.1.Market size and forecast, By Type
6.2.6.2.Market size and forecast, by end-user

6.2.7.Mexico

6.2.7.1.Market size and forecast, By Type
6.2.7.2.Market size and forecast, by end-user

6.3.Europe

6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, By Type
6.3.3.Market size and forecast, by end-user
6.3.4.Market analysis, by country

6.3.5.Germany

6.3.5.1.Market size and forecast, By Type
6.3.5.2.Market size and forecast, by end-user

6.3.6.France

6.3.6.1.Market size and forecast, By Type
6.3.6.2.Market size and forecast, by end-user

6.3.7.Spain

6.3.7.1.Market size and forecast, By Type
6.3.7.2.Market size and forecast, by end-user

6.3.8.Italy

6.3.8.1.Market size and forecast, By Type
6.3.8.2.Market size and forecast, by end-user

6.3.9.UK

6.3.9.1.Market size and forecast, By Type
6.3.9.2.Market size and forecast, by end-user

6.3.10.Rest of Europe

6.3.10.1.Market size and forecast, By Type
6.3.10.2.Market size and forecast, by end-user

6.4.Asia-Pacific

6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, By Type
6.4.3.Market size and forecast, by end-user
6.4.4.Market analysis, by country

6.4.5.China

6.4.5.1.Market size and forecast, By Type
6.4.5.2.Market size and forecast, by end-user

6.4.6.Japan

6.4.6.1.Market size and forecast, By Type
6.4.6.2.Market size and forecast, by end-user

6.4.7.India

6.4.7.1.Market size and forecast, By Type
6.4.7.2.Market size and forecast, by end-user

6.4.8.South Korea

6.4.8.1.Market size and forecast, By Type
6.4.8.2.Market size and forecast, by end-user

6.4.9.Australia

6.4.9.1.Market size and forecast, By Type
6.4.9.2.Market size and forecast, by end-user

6.4.10.Rest of Asia-Pacific

6.4.10.1.Market size and forecast, By Type
6.4.10.2.Market size and forecast, by end-user

6.5.LAMEA

6.5.1.Key market trends, growth factors, and opportunities
6.5.2.Market size and forecast, By Type
6.5.3.Market size and forecast, by end-user
6.5.4.Market analysis, by country
6.5.5.Brazil

6.5.5.1.Market size and forecast, By Type
6.5.5.2.Market size and forecast, by end-user

6.5.6.Saudi Arabia

6.5.6.1.Market size and forecast, By Type
6.5.6.2.Market size and forecast, by end-user

6.5.7.South Africa

6.5.7.1.Market size and forecast, By Type211
6.5.7.2.Market size and forecast, by end-user212

6.5.8.Rest of LAMEA

6.5.8.1.Market size and forecast, By Type
6.5.8.2.Market size and forecast, by end-user

CHAPTER 7:COMPETITIVE LANDSCAPE

7.1.Introduction

7.1.1.Market player positioning, 2020

7.2.Top winning strategies
7.3.Product mapping of top 10 player
7.4.Competitive heatmap
7.5.Key developments

7.5.1.Acquisition
7.5.2.Partnership

CHAPTER 8:COMPANY PROFILES:

8.1.Tesla

8.1.1.Company overview
8.1.2.Company snapshot
8.1.3.Operating Product segments
8.1.4.Product portfolio
8.1.5.Business Performance
8.1.6.Key strategic moves and developments

8.2.LG

8.2.1.Company Overview
8.2.2.Company Snapshot
8.2.3.Operating Business Segment
8.2.4.Product Portfolio
8.2.5.Business Performance
8.2.6.Key strategic moves and developments

8.3.CATL

8.3.1.Company Overview
8.3.2.Company Snapshot
8.3.3.Operating Business Segment
8.3.4.Product Portfolio
8.3.5.Business Performance
8.3.6.Key strategic moves and developments

8.4.Loom Solar

8.4.1.Company Overview
8.4.2.Company Snapshot
8.4.3.Product Portfolio

8.5.Panasonic

8.5.1.Company Overview
8.5.2.Company Snapshot
8.5.3.Operating Business Segment
8.5.4.Product Portfolio
8.5.5.Business Performance
8.5.6.Key strategic moves and developments

8.6.A123 Systems LLC

8.6.1.Company Overview
8.6.2.Company Snapshot
8.6.3.Product Portfolio

8.7.Alpha Technologies, Inc.

8.7.1.Company Overview
8.7.2.Company Snapshot
8.7.3.Product Portfolio
8.7.4.Business Performance

8.8.BAE Batterien GmbH

8.8.1.Company Overview
8.8.2.Company Snapshot
8.8.3.Product Portfolio

8.9.BYD Co. Ltd.

8.9.1.Company Overview
8.9.2.Company Snapshot
8.9.3.Product Portfolio

8.10.EnerSys

8.10.1.Company Overview
8.10.2.Company Snapshot
8.10.3.Operating Business Segment
8.10.4.Product Portfolio
8.10.5.Business Performance
8.10.6.Key strategic moves and developments

LIST OF TABLES

TABLE 01.GLOBAL SOLAR BATTERY MARKET, BY TYPE, 2019–2027 (MW)
TABLE 02.GLOBAL SOLAR BATTERY MARKET, BY TYPE, 2019–2027 ($MILLION)
TABLE 03.GLOBAL LITHIUM ION SOLAR BATTERY MARKET, BY REGION, 2019–2027 (MW)
TABLE 04.GLOBAL LITHIUM ION SOLAR BATTERY MARKET, BY REGION, 2019–2027 ($MILLION)
TABLE 05.GLOBAL LEAD ACID SOLAR BATTERY MARKET, BY REGION, 2019–2027 (MW)
TABLE 06.GLOBAL LEAD ACID SOLAR BATTERY MARKET, BY REGION, 2019–2027 ($MILLION)
TABLE 07.GLOBAL FLOW BATTERY SOLAR BATTERY MARKET, BY REGION, 2019–2027 (MW)
TABLE 08.GLOBAL FLOW BATTERY SOLAR BATTERY MARKET, BY REGION, 2019–2027 ($MILLION)
TABLE 09.GLOBAL OTHERS SOLAR BATTERY MARKET, BY REGION, 2019–2027 (MW)
TABLE 10.GLOBAL OTHERS SOLAR BATTERY MARKET, BY REGION, 2019–2027 ($MILLION)
TABLE 11.GLOBAL SOLAR BATTERY MARKET, BY END USER, 2019–2027 (MW)
TABLE 12.GLOBAL SOLAR BATTERY MARKET, BY END USER, 2019–2027 ($MILLION)
TABLE 13.GLOBAL SOLAR BATTERY MARKET FOR INDUSTRIAL END-USER, BY REGION, 2019–2027 (MW)
TABLE 14.GLOBAL SOLAR BATTERY MARKET FOR INDUSTRIAL END-USER, BY REGION, 2019–2027 ($MILLION)
TABLE 15.GLOBAL SOLAR BATTERY MARKET FOR COMMERCIAL END-USER, BY REGION, 2019–2027 (MW)
TABLE 16.GLOBAL SOLAR BATTERY MARKET FOR COMMERCIAL END-USER, BY REGION, 2019–2027 ($MILLION)
TABLE 17.GLOBAL SOLAR BATTERY MARKET FOR RESIDENTIAL END-USER, BY REGION, 2019–2027 (MW)
TABLE 18.GLOBAL SOLAR BATTERY MARKET FOR RESIDENTIAL END-USER, BY REGION, 2019–2027 ($MILLION)
TABLE 19.SOLAR BATTERY MARKET, BY REGION, 2019-2027 (MW)
TABLE 20.SOLAR BATTERY MARKET, BY REGION, 2019-2027 ($MILLION)
TABLE 21.NORTH AMERICA SOLAR BATTERY MARKET, BY TYPE, 2019-2027 (MW)
TABLE 22.NORTH AMERICA SOLAR BATTERY MARKET, BY TYPE, 2019-2027 ($MILLION)
TABLE 23.NORTH AMERICA SOLAR BATTERY MARKET, BY END-USER, 2019-2027 (MW)
TABLE 24.NORTH AMERICA SOLAR BATTERY MARKET, BY END-USER, 2019-2027 ($MILLION)
TABLE 25.NORTH AMERICA SOLAR BATTERY MARKET, BY COUNTRY, 2019-2027 (MW)
TABLE 26.NORTH AMERICA SOLAR BATTERY MARKET, BY COUNTRY, 2019-2027 ($MILLION)
TABLE 27.U.S. SOLAR BATTERY MARKET, BY TYPE, 2019-2027 (MW)
TABLE 28.U.S. SOLAR BATTERY MARKET, BY TYPE, 2019-2027 ($MILLION)
TABLE 29.U.S. SOLAR BATTERY MARKET, BY END-USER, 2019-2027 (MW)
TABLE 30.U.S. SOLAR BATTERY MARKET, BY END-USER, 2019-2027 ($MILLION)
TABLE 31.CANADA SOLAR BATTERY MARKET, BY TYPE, 2019-2027 (MW)
TABLE 32.CANADA SOLAR BATTERY MARKET, BY TYPE, 2019-2027 ($MILLION)
TABLE 33.CANADA SOLAR BATTERY MARKET, BY END-USER, 2019-2027 (MW)
TABLE 34.CANADA SOLAR BATTERY MARKET, BY END-USER, 2019-2027 ($MILLION)
TABLE 35.MEXICO SOLAR BATTERY MARKET, BY TYPE, 2019-2027 (MW)
TABLE 36.MEXICO SOLAR BATTERY MARKET, BY TYPE, 2019-2027 ($MILLION)
TABLE 37.MEXICO SOLAR BATTERY MARKET, BY END-USER, 2019-2027 (MW)
TABLE 38.MEXICO SOLAR BATTERY MARKET, BY END-USER, 2019-2027 ($MILLION
TABLE 39.EUROPE SOLAR BATTERY MARKET, BY TYPE, 2019-2027 (MW)
TABLE 40.EUROPE SOLAR BATTERY MARKET, BY TYPE, 2019-2027 ($MILLION)
TABLE 41.EUROPE SOLAR BATTERY MARKET, BY END-USER, 2019-2027 (MW)
TABLE 42.EUROPE SOLAR BATTERY MARKET, BY END-USER, 2019-2027 ($MILLION)
TABLE 43.EUROPE SOLAR BATTERY MARKET, BY COUNTRY, 2019-2027 (MW)
TABLE 44.EUROPE SOLAR BATTERY MARKET, BY COUNTRY, 2019-2027 ($MILLION)
TABLE 45.GERMANY SOLAR BATTERY MARKET, BY TYPE, 2019-2027 (MW)
TABLE 46.GERMANY SOLAR BATTERY MARKET, BY TYPE, 2019-2027 ($MILLION)
TABLE 47.GERMANY SOLAR BATTERY MARKET, BY END-USER, 2019-2027 (MW)
TABLE 48.GERMANY SOLAR BATTERY MARKET, BY END-USER, 2019-2027 ($MILLION)
TABLE 49.FRANCE SOLAR BATTERY MARKET, BY TYPE, 2019-2027 (MW)
TABLE 50.FRANCE SOLAR BATTERY MARKET, BY TYPE, 2019-2027 ($MILLION)
TABLE 51.FRANCE SOLAR BATTERY MARKET, BY END-USER, 2019-2027 (MW)
TABLE 52.FRANCE SOLAR BATTERY MARKET, BY END-USER, 2019-2027 ($MILLION)
TABLE 53.SPAIN SOLAR BATTERY MARKET, BY TYPE, 2019-2027 (MW)
TABLE 54.SPAIN SOLAR BATTERY MARKET, BY TYPE, 2019-2027 ($MILLION)
TABLE 55.SPAIN SOLAR BATTERY MARKET, BY END-USER, 2019-2027 (MW)
TABLE 56.SPAIN SOLAR BATTERY MARKET, BY END-USER, 2019-2027 ($MILLION)
TABLE 57.ITALY SOLAR BATTERY MARKET, BY TYPE, 2019-2027 (MW)
TABLE 58.ITALY SOLAR BATTERY MARKET, BY TYPE, 2019-2027 ($MILLION)
TABLE 59.ITALY SOLAR BATTERY MARKET, BY END-USER, 2019-2027 (MW)
TABLE 60.ITALY SOLAR BATTERY MARKET, BY END-USER, 2019-2027 ($MILLION)
TABLE 61.UK SOLAR BATTERY MARKET, BY TYPE, 2019-2027 (MW)
TABLE 62.UK SOLAR BATTERY MARKET, BY TYPE, 2019-2027 ($MILLION)
TABLE 63.UK SOLAR BATTERY MARKET, BY END-USER, 2019-2027 (MW)
TABLE 64.UK SOLAR BATTERY MARKET, BY END-USER, 2019-2027 ($MILLION)
TABLE 65.REST OF EUROPE SOLAR BATTERY MARKET, BY TYPE, 2019-2027 (MW)
TABLE 66.REST OF EUROPE SOLAR BATTERY MARKET, BY TYPE, 2019-2027 ($MILLION)
TABLE 67.REST OF EUROPE SOLAR BATTERY MARKET, BY END-USER, 2019-2027 (MW)
TABLE 68.REST OF EUROPE SOLAR BATTERY MARKET, BY END-USER, 2019-2027 ($MILLION)
TABLE 69.ASIA-PACIFIC SOLAR BATTERY MARKET, BY TYPE, 2019-2027 (MW)
TABLE 70.ASIA-PACIFIC SOLAR BATTERY MARKET, BY TYPE, 2019-2027 ($MILLION)
TABLE 71.ASIA-PACIFIC SOLAR BATTERY MARKET, BY END-USER, 2019-2027 (MW)
TABLE 72.ASIA-PACIFIC SOLAR BATTERY MARKET, BY END-USER, 2019-2027 ($MILLION)
TABLE 73.ASIA-PACIFIC SOLAR BATTERY MARKET, BY COUNTRY, 2019-2027 (MW)
TABLE 74.ASIA-PACIFIC SOLAR BATTERY MARKET, BY COUNTRY, 2019-2027 ($MILLION)
TABLE 75.CHINA SOLAR BATTERY MARKET, BY TYPE, 2019-2027 (MW)
TABLE 76.CHINA SOLAR BATTERY MARKET, BY TYPE, 2019-2027 ($MILLION)
TABLE 77.CHINA SOLAR BATTERY MARKET, BY END-USER, 2019-2027 (MW)
TABLE 78.CHINA SOLAR BATTERY MARKET, BY END-USER, 2019-2027 ($MILLION)
TABLE 79.JAPAN SOLAR BATTERY MARKET, BY TYPE, 2019-2027 (MW)
TABLE 80.JAPAN SOLAR BATTERY MARKET, BY TYPE, 2019-2027 ($MILLION)
TABLE 81.JAPAN SOLAR BATTERY MARKET, BY END-USER, 2019-2027 (MW)
TABLE 82.JAPAN SOLAR BATTERY MARKET, BY END-USER, 2019-2027 ($MILLION)
TABLE 83.INDIA SOLAR BATTERY MARKET, BY TYPE, 2019-2027 (MW)
TABLE 84.INDIA SOLAR BATTERY MARKET, BY TYPE, 2019-2027 ($MILLION)
TABLE 85.INDIA SOLAR BATTERY MARKET, BY END-USER, 2019-2027 (MW)
TABLE 86.INDIA SOLAR BATTERY MARKET, BY END-USER, 2019-2027 ($MILLION)
TABLE 87.SOUTH KOREA SOLAR BATTERY MARKET, BY TYPE, 2019-2027 (MW)
TABLE 88.SOUTH KOREA SOLAR BATTERY MARKET, BY TYPE, 2019-2027 ($MILLION)
TABLE 89.SOUTH KOREA SOLAR BATTERY MARKET, BY END-USER, 2019-2027 (MW)
TABLE 90.SOUTH KOREA SOLAR BATTERY MARKET, BY END-USER, 2019-2027 ($MILLION)
TABLE 91.AUSTRALIA SOLAR BATTERY MARKET, BY TYPE, 2019-2027 (MW)
TABLE 92.AUSTRALIA SOLAR BATTERY MARKET, BY TYPE, 2019-2027 ($MILLION)
TABLE 93.AUSTRALIA SOLAR BATTERY MARKET, BY END-USER, 2019-2027 (MW)
TABLE 94.AUSTRALIA SOLAR BATTERY MARKET, BY END-USER, 2019-2027 ($MILLION)
TABLE 95.REST OF ASIA-PACIFIC SOLAR BATTERY MARKET, BY TYPE, 2019-2027 (MW)
TABLE 96.REST OF ASIA-PACIFIC SOLAR BATTERY MARKET, BY TYPE, 2019-2027 ($MILLION)
TABLE 97.REST OF ASIA-PACIFIC SOLAR BATTERY MARKET, BY END-USER, 2019-2027 (MW)
TABLE 98.REST OF ASIA-PACIFIC SOLAR BATTERY MARKET, BY END-USER, 2019-2027 ($MILLION)
TABLE 99.LAMEA SOLAR BATTERY MARKET, BY TYPE, 2019-2027 (MW)
TABLE 100.LAMEA SOLAR BATTERY MARKET, BY TYPE, 2019-2027 ($MILLION)
TABLE 101.LAMEA SOLAR BATTERY MARKET, BY END-USER, 2019-2027 (MW)
TABLE 102.LAMEA SOLAR BATTERY MARKET, BY END-USER, 2019-2027 ($MILLION
TABLE 103.LAMEA SOLAR BATTERY MARKET, BY COUNTRY, 2019-2027 (MW)
TABLE 104.LAMEA SOLAR BATTERY MARKET, BY COUNTRY, 2019-2027 ($MILLION)
TABLE 105.BRAZIL SOLAR BATTERY MARKET, BY TYPE, 2019-2027 (MW)
TABLE 106.BRAZIL SOLAR BATTERY MARKET, BY TYPE, 2019-2027 ($MILLION)
TABLE 107.BRAZIL SOLAR BATTERY MARKET, BY END-USER, 2019-2027 (MW)
TABLE 108.BRAZIL SOLAR BATTERY MARKET, BY END-USER, 2019-2027 ($MILLION)
TABLE 109.SAUDI ARABIA SOLAR BATTERY MARKET, BY TYPE, 2019-2027 (MW)
TABLE 110.SAUDI ARABIA SOLAR BATTERY MARKET, BY TYPE, 2019-2027 ($MILLION)
TABLE 111.SAUDI ARABIA SOLAR BATTERY MARKET, BY END-USER, 2019-2027 (MW)
TABLE 112.SAUDI ARABIA SOLAR BATTERY MARKET, BY END-USER, 2019-2027 ($MILLION)
TABLE 113.SOUTH AFRICA SOLAR BATTERY MARKET, BY TYPE, 2019-2027 (MW)
TABLE 114.SOUTH AFRICA SOLAR BATTERY MARKET, BY TYPE, 2019-2027 ($MILLION)
TABLE 115.SOUTH AFRICA SOLAR BATTERY MARKET, BY END-USER, 2019-2027 (MW)
TABLE 116.SOUTH AFRICA SOLAR BATTERY MARKET, BY END-USER, 2019-2027 ($MILLION)
TABLE 117.REST OF LAMEA SOLAR BATTERY MARKET, BY TYPE, 2019-2027 (MW)
TABLE 118.REST OF LAMEA SOLAR BATTERY MARKET, BY TYPE, 2019-2027 ($MILLION)
TABLE 119.REST OF LAMEA SOLAR BATTERY MARKET, BY END-USER, 2019-2027 (MW)
TABLE 120.REST OF LAMEA SOLAR BATTERY MARKET, BY END-USER, 2019-2027 ($MILLION)
TABLE 121.KEY ACQUISITION (2016-2019)
TABLE 122.KEY PARTNERSHIP (2016-2019)
TABLE 123.TESLA: COMPANY SNAPSHOT
TABLE 124.TESLA: OPERATING PRODUCT SEGMENTS
TABLE 125.TESLA: PRODUCT PORTFOLIO
TABLE 126.TESLA: REVENUE, 2018–2020 ($MILLION)
TABLE 127.TESLA: OVERALL FINANCIAL STATUS ($MILLION)
TABLE 128.GENERALELECTRIC: REVENUE SHARE BY SEGMENT, 2020 (%)
TABLE 129.TESLA: REVENUE SHARE BY REGION, 2020 (%)
TABLE 130.TESLA: KEY STRATEGIC MOVES AND DEVELOPMENT
TABLE 131.SEIMENS AG: OPERATING SEGMENTS
TABLE 132.LG: PRODUCT PORTFOLIO2
TABLE 133.LG: REVENUE, 2018–2020 ($MILLION)
TABLE 134.LG: OVERALL FINANCIAL STATUS ($MILLION)
TABLE 135.LG: REVENUE SHARE BY SEGMENT, 2020 (%)
TABLE 136.LG: REVENUE SHARE BY REGION, 2020 (%)
TABLE 137.LG: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 138.CATL: OPERATING SEGMENTS
TABLE 139.CATL: PRODUCT PORTFOLIO
TABLE 140.CATL: REVENUE, 2018–2020 ($MILLION)
TABLE 141.CATL: OVERALL FINANCIAL STATUS ($MILLION)
TABLE 142.CATL: REVENUE SHARE BY SEGMENT, 2020 (%)
TABLE 143.CATL: REVENUE SHARE BY REGION, 2020 (%)
TABLE 144.CATL: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 145.LOOM SOLAR: PRODUCT PORTFOLIO
TABLE 146.PANASONIC: OPERATING SEGMENTS
TABLE 147.PANASONIC : PRODUCT PORTFOLIO
TABLE 148.PANASONIC: REVENUE, 2018–2020 ($MILLION)
TABLE 149.PANASONIC: OVERALL FINANCIAL STATUS ($MILLION)
TABLE 150.PANASONIC: REVENUE SHARE BY SEGMENT, 2020 (%)
TABLE 151.PANASONIC: REVENUE SHARE BY REGION, 2020 (%)
TABLE 152.PANASONIC: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 153.A123 SYSTEMS LLC: PRODUCT PORTFOLIO
TABLE 154.ALPHA TECHNOLOGIES, INC.: PRODUCT PORTFOLIO
TABLE 155.ALPHA TECHNOLOGIES, INC.: REVENUE, 2018–2020 ($MILLION)
TABLE 156.ALPHA TECHNOLOGIES, INC.: OVERALL FINANCIAL STATUS ($MILLION)
TABLE 157.BAE BATTERIEN GMBH: PRODUCT PORTFOLIO
TABLE 158.BYD CO. LTD.: PRODUCT PORTFOLIO
TABLE 159.ENERSYS: OPERATING SEGMENTS
TABLE 160.ENERSYS: PRODUCT PORTFOLIO
TABLE 161.ENERSYS: REVENUE, 2018–2020 ($MILLION)
TABLE 162.ENERSYS: OVERALL FINANCIAL STATUS ($MILLION)
TABLE 163.ENERSYS: REVENUE SHARE BY SEGMENT, 2020 (%)

TABLE 164.ENERSYS: REVENUE SHARE BY REGION, 2020 (%)
TABLE 165.ENERSYS: KEY STRATEGIC MOVES AND DEVELOPMENTS

LIST OF FIGURES

FIGURE 01.KEY MARKET SEGMENTS
FIGURE 02.EXECUTIVE SUMMARY, BY SEGMENTS
FIGURE 03.EXECUTIVE SUMMARY, BY REGION
FIGURE 04.TOP INVESTMENT POCKETS
FIGURE 05.MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 06.LOW BARGAINING POWER OF BUYERS
FIGURE 07.MODERATE THREAT OF SUBSTITUTES
FIGURE 08.MODERATE THREAT OF NEW ENTRANTS
FIGURE 09.HIGH INTENSITY OF RIVALRY
FIGURE 10.SOLAR BATTERY MARKET DYNAMICS
FIGURE 11.VALUE CHAIN ANALYSIS
FIGURE 12.PATENT ANALYSIS, BY REGION
FIGURE 13.GLOBAL SOLAR BATTERY MARKET, BY TYPE, 2019–2027 ($MILILION)
FIGURE 14.COMPARATIVE ANALYSIS OF LITHIUM ION SOLAR BATTERY MARKET, 2019–2027 ($MILILION)
FIGURE 15.COMPARATIVE ANALYSIS OF LEAD ACID SOLAR BATTERY MARKET, 2019–2027 ($MILILION)
FIGURE 16.COMPARATIVE ANALYSIS OF FLOW BATTERY SOLAR BATTERY MARKET, 2019–2027 ($MILILION
FIGURE 17.COMPARATIVE ANALYSIS OF OTHERS SOLAR BATTERY MARKET, 2019–2027 ($MILILION)
FIGURE 18.GLOBAL SOLAR BATTERY MARKET, BY END USER, 2019–2027 ($MILILION)
FIGURE 19.COMPARATIVE ANALYSIS OF GLOBAL SOLAR BATTERY MARKET FOR INDUSTRIAL END-USER, 2019–2027 ($MILILION)
FIGURE 20.COMPARATIVE ANALYSIS OF GLOBAL SOLAR BATTERY MARKET FOR COMMERCIAL END-USER, 2019–2027 ($MILILION)
FIGURE 21.COMPARATIVE ANALYSIS OF GLOBAL SOLAR BATTERY MARKET FOR RESIDENTIAL END-USER, 2019–2027 ($MILILION)
FIGURE 22.U.S. SOLAR BATTERY MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 23.CANADA SOLAR BATTERY MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 24.MEXICO SOLAR BATTERY MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 25.GERMANY SOLAR BATTERY MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 26.FRANCE SOLAR BATTERY MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 27.SPAIN SOLAR BATTERY MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 28.ITALY SOLAR BATTERY MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 29.UK SOLAR BATTERY MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 30.REST OF EUROPE SOLAR BATTERY MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 31.CHINA SOLAR BATTERY MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 32.JAPAN SOLAR BATTERY MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 33.INDIA SOLAR BATTERY MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 34.SOUTH KOREA SOLAR BATTERY MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 35.AUSTRALIA SOLAR BATTERY MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 36.REST OF ASIA-PACIFIC SOLAR BATTERY MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 37.BRAZIL SOLAR BATTERY MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 38.SAUDI ARABIA SOLAR BATTERY MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 39.SOUTH AFRICA SOLAR BATTERY MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 40.REST OF LAMEA SOLAR BATTERY MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 41.MARKET PLAYER POSITIONING, 2020
FIGURE 42.PRODUCT MAPPING OF TOP 10 PLAYERS
FIGURE 43.COMPETITIVE HEATMAP OF KEY PLAYERS

 
 

The solar battery market is expected to witness considerable growth. This is attributed to a significant surge in demand from residential and commercial end-users. Solar battery is often used in hospitals, hotels, hostels, schools, educational institutions, and restaurants for utility purposes. In addition, rise in concern from governments across emerging nations, such as China, India, and South Korea, regarding zero emission norms is expected to drive the market growth. Governments across different countries implement new rebate and energy schemes on excess amount of energy for residential as well as commercial users. This is expected to enhance the market penetration in new customer segments.

 

 
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FREQUENTLY ASKED QUESTIONS?
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A. Lithium ion battery segment accounted for the largest Solar Battery market share.

A. Significant surge in demand for eco-friendly energy solutions and growing interest of industry players toward renewable energy storage solutions are the key factors boosting the market growth.

A. To get latest version of Solar Battery market report can be obtained on demand from the website.

A. The global solar battery market was valued at $113.4 million in 2019, and is projected to reach $360.4 million by 2027, growing at a CAGR of 15.5% from 2020 to 2027.

A. BYD Company, Kokam.Co, Carnegie Clean Energy, Primus Power, LG Chem, and EnerSys are some of the top companies in the market.

A. The top ten market players are selected based on two key attributes - competitive strength and market positioning

A. Commercial end-user is projected to increase the demand for Solar Battery Market.

A. Rise in demand for renewable energy storage solution, coupled with shifting preference towards energy trading are the main drivers influencing the market growth.

A. Both industrial and commercial end users are expected to drive the adoption of Solar Battery.

A. • The global solar battery market had immediate impact of COVID-19 due to social distancing norms and shortage of manpower. These led to delayed installations and cancellation of new projects. • In addition, the sharp decline in consumer expenditure highly affected the demand. Reduced expenditure of consumers during the lockdown highly impacted the market for solar products, including various solar storage systems. • Moreover, the upstream and downstream channels have been affected due to restrictions on movement, which lead to increase in the amount of inventories. • Furthermore, high dependency on Chinese exports for solar cell, solar battery, and solar module negatively impacted the market. India imports around 80% of its solar products from China. As the manufacturing firms in China were idle for the last 6-7 months, it highly impacted the production process in India. • However, shifting trend toward remote working is considered a vital solution to improve the market conditions. Various automation companies utilize remote connectivity to ensure the access to field operators and service engineers who cannot be on site at this time. • These companies are providing control room livestreams, process data, operational insights, and plant key performance indicators to users sheltering at home. Such developments are expected to provide new market opportunities in post COVID-19 period.

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