Residential Battery Market Forecasts to 2028 – Global Analysis By Type (Lead-Acid Battery, Lithium-Ion Battery, Sodium-Ion Battery), Operation (Solar, Standalone), Power Rating (6-10 kW, 3-6 kW) and By Geography
According to Stratistics MRC, the Global Residential Battery market is accounted for $9.87 billion in 2020 and is expected to reach $36.85 billion by 2028 growing at a CAGR of 17.9% during the forecast period. Some of the key factors propelling the market growth include supporting the operational advantages of LI-ion batteries, increasing deployment of solar power generation, rising need for energy storage solutions in the residential sector across the world, and growing adoption of renewable and low cost of lithium-ion batteries. However, short life span of batteries and less efficiency are restricting the market growth.
Residential battery is used to store energy electric energy in the batteries. These are used across various industries; for instance, they are deployed in electric vehicles and also in smart meters. These are found to be extremely useful in remote areas deprived of a stable grid connection. These rooftop solar installations store energy and allow the user to use it in case of power cuts. Similarly, these batteries are also charged using the standard grid connection network and brought to work in cases of power cuts.
By type, the lithium-ion battery segment is expected to grow at a significant rate during the forecast period, due to its capacity-to-weight ratio, high energy density, better performance, decreasing price, high efficiency, higher capacity power packs, more economical, and the emergence of new and exciting markets such as electric vehicle and energy storage systems (ESS) for both commercial and residential applications.
On the basis of geography, Asia Pacific region is estimated to have considerable market growth during the forecast period, owing to increase in demand for continuous electricity supply, recent investments in solar electricity generation, government’s policy and regulatory support, and domestic demand for solar-related equipment through subsidies and installation targets.
Some of the key players in Residential Battery Market include Luminous Power Technologies, Hitachi, Ltd., Samsung SDI Co. Ltd., Amara Raja Batteries Ltd, FIMER SpA, NEC Corp, ABB Ltd, Delta Electronics Ltd., LG Chem Ltd, Generac Holdings,Inc., Tesla Inc, Sonnen GmbH, Siemens AG, Contemporary Amperex Technology Co. Limited, Panasonic Corporation, Tianjin Lishen Battery Joint-Stock Co., Ltd., Eaton, Schneider Electric, and BYD Electronic Company Limited.
Types Covered:
• Lead-Acid Battery
• Lithium-Ion Battery
• Sodium-Ion Battery
Operations Covered:
• Solar
• Standalone
Power Ratings Covered:
• 6-10 kW
• 3-6 kW
Distribution Channels Covered:
• Convenience Stores
• Online Retailers
• Supermarkets and Hypermarkets
• Specialist Retailers
Applications Covered:
• Residential Power Supply
• Household Appliances
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Residential Battery Market, By Type
5.1 Introduction
5.2 Lead-Acid Battery
5.3 Lithium-Ion Battery
5.4 Sodium-Ion Battery
6 Global Residential Battery Market, By Operation
6.1 Introduction
6.2 Solar
6.3 Standalone
7 Global Residential Battery Market, By Power Rating
7.1 Introduction
7.2 6-10 kW
7.3 3-6 kW
8 Global Residential Battery Market, By Distribution Channel
8.1 Introduction
8.2 Convenience Stores
8.3 Online Retailers
8.4 Supermarkets and Hypermarkets
8.5 Specialist Retailers
9 Global Residential Battery Market, By Application
9.1 Introduction
9.2 Residential Power Supply
9.3 Household Appliances
10 Global Residential Battery Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Luminous Power Technologies
12.2 Hitachi, Ltd.
12.3 Samsung SDI Co. Ltd.
12.4 Amara Raja Batteries Ltd
12.5 FIMER SpA
12.6 NEC Corp
12.7 ABB Ltd
12.8 Delta Electronics Ltd.
12.9 LG Chem Ltd
12.10 Generac Holdings,Inc.
12.11 Tesla Inc
12.12 Sonnen GmbH
12.13 Siemens AG
12.14 Contemporary Amperex Technology Co. Limited
12.15 Panasonic Corporation
12.16 Tianjin Lishen Battery Joint-Stock Co., Ltd.
12.17 Eaton
12.18 Schneider Electric
12.19 BYD Electronic Company Limited
List of Tables
1 Global Residential Battery Market Outlook, By Region (2019-2028) ($MN) Nissan
2 Global Residential Battery Market Outlook, By Type (2019-2028) ($MN)
3 Global Residential Battery Market Outlook, By Lead-Acid Battery (2019-2028) ($MN)
4 Global Residential Battery Market Outlook, By Lithium-Ion Battery (2019-2028) ($MN)
5 Global Residential Battery Market Outlook, By Sodium-Ion Battery (2019-2028) ($MN)
6 Global Residential Battery Market Outlook, By Operation (2019-2028) ($MN)
7 Global Residential Battery Market Outlook, By Solar (2019-2028) ($MN)
8 Global Residential Battery Market Outlook, By Standalone (2019-2028) ($MN)
9 Global Residential Battery Market Outlook, By Power Rating (2019-2028) ($MN)
10 Global Residential Battery Market Outlook, By 6-10 kW (2019-2028) ($MN)
11 Global Residential Battery Market Outlook, By 3-6 kW (2019-2028) ($MN)
12 Global Residential Battery Market Outlook, By Distribution Channel (2019-2028) ($MN)
13 Global Residential Battery Market Outlook, By Convenience Stores (2019-2028) ($MN)
14 Global Residential Battery Market Outlook, By Online Retailers (2019-2028) ($MN)
15 Global Residential Battery Market Outlook, By Supermarkets and Hypermarkets (2019-2028) ($MN)
16 Global Residential Battery Market Outlook, By Specialist Retailers (2019-2028) ($MN)
17 Global Residential Battery Market Outlook, By Application (2019-2028) ($MN)
18 Global Residential Battery Market Outlook, By Residential Power Supply (2019-2028) ($MN)
19 Global Residential Battery Market Outlook, By Household Appliances (2019-2028) ($MN)
20 North America Residential Battery Market Outlook, By Country (2019-2028) ($MN)
21 North America Residential Battery Market Outlook, By Type (2019-2028) ($MN)
22 North America Residential Battery Market Outlook, By Lead-Acid Battery (2019-2028) ($MN)
23 North America Residential Battery Market Outlook, By Lithium-Ion Battery (2019-2028) ($MN)
24 North America Residential Battery Market Outlook, By Sodium-Ion Battery (2019-2028) ($MN)
25 North America Residential Battery Market Outlook, By Operation (2019-2028) ($MN)
26 North America Residential Battery Market Outlook, By Solar (2019-2028) ($MN)
27 North America Residential Battery Market Outlook, By Standalone (2019-2028) ($MN)
28 North America Residential Battery Market Outlook, By Power Rating (2019-2028) ($MN)
29 North America Residential Battery Market Outlook, By 6-10 kW (2019-2028) ($MN)
30 North America Residential Battery Market Outlook, By 3-6 kW (2019-2028) ($MN)
31 North America Residential Battery Market Outlook, By Distribution Channel (2019-2028) ($MN)
32 North America Residential Battery Market Outlook, By Convenience Stores (2019-2028) ($MN)
33 North America Residential Battery Market Outlook, By Online Retailers (2019-2028) ($MN)
34 North America Residential Battery Market Outlook, By Supermarkets and Hypermarkets (2019-2028) ($MN)
35 North America Residential Battery Market Outlook, By Specialist Retailers (2019-2028) ($MN)
36 North America Residential Battery Market Outlook, By Application (2019-2028) ($MN)
37 North America Residential Battery Market Outlook, By Residential Power Supply (2019-2028) ($MN)
38 North America Residential Battery Market Outlook, By Household Appliances (2019-2028) ($MN)
39 Europe Residential Battery Market Outlook, By Country (2019-2028) ($MN)
40 Europe Residential Battery Market Outlook, By Type (2019-2028) ($MN)
41 Europe Residential Battery Market Outlook, By Lead-Acid Battery (2019-2028) ($MN)
42 Europe Residential Battery Market Outlook, By Lithium-Ion Battery (2019-2028) ($MN)
43 Europe Residential Battery Market Outlook, By Sodium-Ion Battery (2019-2028) ($MN)
44 Europe Residential Battery Market Outlook, By Operation (2019-2028) ($MN)
45 Europe Residential Battery Market Outlook, By Solar (2019-2028) ($MN)
46 Europe Residential Battery Market Outlook, By Standalone (2019-2028) ($MN)
47 Europe Residential Battery Market Outlook, By Power Rating (2019-2028) ($MN)
48 Europe Residential Battery Market Outlook, By 6-10 kW (2019-2028) ($MN)
49 Europe Residential Battery Market Outlook, By 3-6 kW (2019-2028) ($MN)
50 Europe Residential Battery Market Outlook, By Distribution Channel (2019-2028) ($MN)
51 Europe Residential Battery Market Outlook, By Convenience Stores (2019-2028) ($MN)
52 Europe Residential Battery Market Outlook, By Online Retailers (2019-2028) ($MN)
53 Europe Residential Battery Market Outlook, By Supermarkets and Hypermarkets (2019-2028) ($MN)
54 Europe Residential Battery Market Outlook, By Specialist Retailers (2019-2028) ($MN)
55 Europe Residential Battery Market Outlook, By Application (2019-2028) ($MN)
56 Europe Residential Battery Market Outlook, By Residential Power Supply (2019-2028) ($MN)
57 Europe Residential Battery Market Outlook, By Household Appliances (2019-2028) ($MN)
58 Asia Pacific Residential Battery Market Outlook, By Country (2019-2028) ($MN)
59 Asia Pacific Residential Battery Market Outlook, By Type (2019-2028) ($MN)
60 Asia Pacific Residential Battery Market Outlook, By Lead-Acid Battery (2019-2028) ($MN)
61 Asia Pacific Residential Battery Market Outlook, By Lithium-Ion Battery (2019-2028) ($MN)
62 Asia Pacific Residential Battery Market Outlook, By Sodium-Ion Battery (2019-2028) ($MN)
63 Asia Pacific Residential Battery Market Outlook, By Operation (2019-2028) ($MN)
64 Asia Pacific Residential Battery Market Outlook, By Solar (2019-2028) ($MN)
65 Asia Pacific Residential Battery Market Outlook, By Standalone (2019-2028) ($MN)
66 Asia Pacific Residential Battery Market Outlook, By Power Rating (2019-2028) ($MN)
67 Asia Pacific Residential Battery Market Outlook, By 6-10 kW (2019-2028) ($MN)
68 Asia Pacific Residential Battery Market Outlook, By 3-6 kW (2019-2028) ($MN)
69 Asia Pacific Residential Battery Market Outlook, By Distribution Channel (2019-2028) ($MN)
70 Asia Pacific Residential Battery Market Outlook, By Convenience Stores (2019-2028) ($MN)
71 Asia Pacific Residential Battery Market Outlook, By Online Retailers (2019-2028) ($MN)
72 Asia Pacific Residential Battery Market Outlook, By Supermarkets and Hypermarkets (2019-2028) ($MN)
73 Asia Pacific Residential Battery Market Outlook, By Specialist Retailers (2019-2028) ($MN)
74 Asia Pacific Residential Battery Market Outlook, By Application (2019-2028) ($MN)
75 Asia Pacific Residential Battery Market Outlook, By Residential Power Supply (2019-2028) ($MN)
76 Asia Pacific Residential Battery Market Outlook, By Household Appliances (2019-2028) ($MN)
77 South America Residential Battery Market Outlook, By Country (2019-2028) ($MN)
78 South America Residential Battery Market Outlook, By Type (2019-2028) ($MN)
79 South America Residential Battery Market Outlook, By Lead-Acid Battery (2019-2028) ($MN)
80 South America Residential Battery Market Outlook, By Lithium-Ion Battery (2019-2028) ($MN)
81 South America Residential Battery Market Outlook, By Sodium-Ion Battery (2019-2028) ($MN)
82 South America Residential Battery Market Outlook, By Operation (2019-2028) ($MN)
83 South America Residential Battery Market Outlook, By Solar (2019-2028) ($MN)
84 South America Residential Battery Market Outlook, By Standalone (2019-2028) ($MN)
85 South America Residential Battery Market Outlook, By Power Rating (2019-2028) ($MN)
86 South America Residential Battery Market Outlook, By 6-10 kW (2019-2028) ($MN)
87 South America Residential Battery Market Outlook, By 3-6 kW (2019-2028) ($MN)
88 South America Residential Battery Market Outlook, By Distribution Channel (2019-2028) ($MN)
89 South America Residential Battery Market Outlook, By Convenience Stores (2019-2028) ($MN)
90 South America Residential Battery Market Outlook, By Online Retailers (2019-2028) ($MN)
91 South America Residential Battery Market Outlook, By Supermarkets and Hypermarkets (2019-2028) ($MN)
92 South America Residential Battery Market Outlook, By Specialist Retailers (2019-2028) ($MN)
93 South America Residential Battery Market Outlook, By Application (2019-2028) ($MN)
94 South America Residential Battery Market Outlook, By Residential Power Supply (2019-2028) ($MN)
95 South America Residential Battery Market Outlook, By Household Appliances (2019-2028) ($MN)
96 Middle East & Africa Residential Battery Market Outlook, By Country (2019-2028) ($MN)
97 Middle East & Africa Residential Battery Market Outlook, By Type (2019-2028) ($MN)
98 Middle East & Africa Residential Battery Market Outlook, By Lead-Acid Battery (2019-2028) ($MN)
99 Middle East & Africa Residential Battery Market Outlook, By Lithium-Ion Battery (2019-2028) ($MN)
100 Middle East & Africa Residential Battery Market Outlook, By Sodium-Ion Battery (2019-2028) ($MN)
101 Middle East & Africa Residential Battery Market Outlook, By Operation (2019-2028) ($MN)
102 Middle East & Africa Residential Battery Market Outlook, By Solar (2019-2028) ($MN)
103 Middle East & Africa Residential Battery Market Outlook, By Standalone (2019-2028) ($MN)
104 Middle East & Africa Residential Battery Market Outlook, By Power Rating (2019-2028) ($MN)
105 Middle East & Africa Residential Battery Market Outlook, By 6-10 kW (2019-2028) ($MN)
106 Middle East & Africa Residential Battery Market Outlook, By 3-6 kW (2019-2028) ($MN)
107 Middle East & Africa Residential Battery Market Outlook, By Distribution Channel (2019-2028) ($MN)
108 Middle East & Africa Residential Battery Market Outlook, By Convenience Stores (2019-2028) ($MN)
109 Middle East & Africa Residential Battery Market Outlook, By Online Retailers (2019-2028) ($MN)
110 Middle East & Africa Residential Battery Market Outlook, By Supermarkets and Hypermarkets (2019-2028) ($MN)
111 Middle East & Africa Residential Battery Market Outlook, By Specialist Retailers (2019-2028) ($MN)
112 Middle East & Africa Residential Battery Market Outlook, By Application (2019-2028) ($MN)
113 Middle East & Africa Residential Battery Market Outlook, By Residential Power Supply (2019-2028) ($MN)
114 Middle East & Africa Residential Battery Market Outlook, By Household Appliances (2019-2028) ($MN)
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