Residential Energy Storage Industry Analysis by Key Players, End-User, Size, Growth Rate, Regions and Forecast to 2028

Residential Energy Storage Industry Analysis by Key Players, End-User, Size, Growth Rate, Regions and Forecast to 2028
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The global residential energy storage market size is expected to reach USD 31.51 Billion in 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research.

The research report on the Global Residential Energy Storage Market is formulated with insightful data that will help the established companies and new entrants to analyze the business trends and capitalize on investment strategies.The Residential Energy Storage market is analyzed with an aim to provide assistance to the readers to gain maximum returns on the investment and to enable an informed decision-making process.The report is furnished with the latest updates about the current market scenario with regards to the COVID-19 pandemic.The report considers COVID-19 as a key contributor to the dynamically altered market scenario.The report also covers changing trends and market dynamics due to the pandemic and provides an accurate impact analysis of the crisis on the overall market.

Increasing investment by battery manufacturers for development of more cost-effective and advanced lithium-ion batteries is supporting growing demand for lithium-ion batteries. storage has been gaining traction in the power industry and this is another key factor which boosting market growth to a significant extent. Government incentives for installation of residential energy storage systems is expected to continue to support market growth during the forecast period.

Increasing utilization of lithium-ion batteries due to stringent environmental regulations and policies and growing need to reduce carbon emissions is augmenting growth of the residential energy storage market. Techno-economic benefits of lithium-ion batteries over conventional batteries is a key factor boosting demand.

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Some Key Highlights From the Report

  • In September 2020, Hitachi ABB Power Grids acquired U.S. based Pioneer Solutions LLC, which is a provider of industry leading front to back office Commodities/Energy Trading and Risk Management (C/ETRM) solutions. The acquisition is expected to expand Energy Market Operations offering and empower energy market participants with leading digital capabilities to navigate the evolving regulatory environment and renewable energy goals.
  • Lithium-ion batteries segment accounted for largest revenue share in 2020. Stringent environmental regulations and policies is boosting utilization of lithium-ion batteries to reduce greenhouse gas emissions.
  • Asia Pacific accounted for largest revenue share contribution to the global residential energy storage market in 2020. Presence of various incentives and programs in countries in the region to encourage adoption of residential energy storage systems are key factors supporting market growth.
  • Key players in the market include ABB, Samsung SDI Co, Tesla, Inc., BYD Company, Eguana Technologies, Schneider Electric, Siemens, Huawei, Eaton Corporation plc, and LG Chem.

Emergen Research has segmented the global residential energy storage market on the basis of technology, ownership type, connectivity type, and region:

  • Technology Outlook (Revenue, USD Billion; 2018–2028)
    • Lithium-ion Batteries
    • Lead-acid Batteries
  • Ownership Type Outlook (Revenue, USD Billion; 2018–2028)
    • Utility Owned
    • Customer Owned
    • Third-party Owned     
  • Connectivity Type Outlook (Revenue, USD Billion; 2018–2028)
    • On-grid
    • Off-grid

The market is spread across several key geographical regions, and the report covers the regional analysis as well as the production, consumption, revenue, and market share in those regions for the forecast period of 2021-2028. The regions include North America, Latin America, Europe, AsiaPacific, and Middle East and Africa.

Comprehensive Regional Analysis Covers the Following Regions:

  • North America (U.S., Canada, Mexico)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • AsiaPacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Key Coverage of the Residential Energy Storage Market:

  • Insightful information regarding the global Residential Energy Storage market
  • Identification of growth in various segments and sub-segments of the Residential Energy Storage market
  • Strategic recommendations for investment opportunities
  • The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate
  • Emerging trends and current market segment analysis to help investors formulate new business strategies
  • Accelerates the decision-making process through the availability of the drivers and limitations

Table of Content

Table of Content

Table of Content
Chapter 1. Methodology & Sources
    1.1. Market Definition
    1.2. Research Scope  
    1.3. Methodology
    1.4. Research Sources
          1.4.1. Primary
          1.4.2. Secondary
          1.4.3. Paid Sources
    1.5. Market Estimation Technique
Chapter 2. Executive Summary
    2.1. Summary Snapshot, 2021-2028
Chapter 3. Key Insights
Chapter 4. Residential Energy Storage Market Segmentation & Impact Analysis
    4.1. Residential Energy Storage Market Material Segmentation Analysis
    4.2. Industrial Outlook
          4.2.1. Market indicators analysis
          4.2.2. Market drivers analysis
                    4.2.2.1. Decreasing costs of batteries
                    4.2.2.2. Rapid growth of renewable energy
                    4.2.2.3. Rising need to reduce electricity costs
                    4.2.2.4. Growing initiatives to reduce ecological footprint
                    4.2.2.5. Government incentives for installing residential storage
          4.2.3. Market restraints analysis 
                    4.2.3.1. Lack of awareness regarding storage technology 
                    4.2.3.2. Limited availability of highly skilled and experienced workforce
    4.3. Technological Insights 
    4.4. Regulatory Framework
    4.5. Porter’s Five Forces Analysis
    4.6. Competitive Metric Space Analysis
    4.7. Price trend Analysis
    4.8. Covid-19 Impact Analysis

CONTINUED…!!

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