Solar Battery Market Forecasts to 2028 – Global Analysis By Technology (Sodium, Li-Ion), Application (Meteorological Field, Photovoltaic Power Station), End User (Commercial, Industrial, Military) and By Geography
According to Stratistics MRC, the Global Solar Battery Market is accounted for $130.98 million in 2020 and is expected to reach $475.88 million by 2028 growing at a CAGR of 17.5% during the forecast period. Rising concerns regarding conventional power generation, Growing demand for sustainable energy storage solutions are driving the market growth. However, high initial installation and maintenance costs are hampering the growth of the market.
Solar battery is generally deep cycle battery used to store solar power and discharge the power as per requirement. These batteries are made of lithium ion or lead acid. Solar batteries basically convert the DC power energy produced by solar energy into AC power for the later use. Solar batteries are used in solar cell systems to store excess energy since they are rechargeable.
Based on the technology, the lithium ion (Li-Ion) solar batteries segment is going to have lucrative growth during the forecast period as these batteries help in harvesting large amount of energy this is attributed to high charge and discharge efficiencies of lithium ion batteries. By geography, Asia Pacific is going to have high growth during the forecast period owing to rise in concern from governments across emerging nations, such as South Korea, India, and China, regarding renewable energy storage. Moreover, China being the largest producer of solar power will positively influence the demand for solar battery in Asia Pacific region.
Some of the key players profiled in the Solar Battery Market include Carnegie Clean Energy, Samsung SDI, LG Chem, East Penn Manufacturing, Exide Technologies, Kokam.Co, HOPPECKE Batterien GmbH & Co. KG, Alpha Technologies, A123 Systems, Panasonic, Bosch Solar Energy, Radiant Solar Technology, First Solar and BAE Batterien.
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Report Coverage |
Details |
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Published Year: |
2021 |
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Estimated Market Size in 2020: |
USD 130.98 million |
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Estimated Period: |
2020 |
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Compound Annual Growth Rate (CAGR) from 2020 to 2028: |
17.5% |
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Predicted 2028 Value: |
USD 475.88 million |
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Forecast Years: |
2021-2028 |
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Tables, Graphs& Figures |
129 |
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Chapters Covered: |
Technology, Application, End Userand Region |
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Core Drivers and Opportunities: |
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Restraining Factors & Market Threats: |
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Technologies Covered:
• Flow Batteries
• Sodium Based Batteries
• Lead Acid Batteries
• Lithium Ion (Li-Ion) Solar Batteries
Applications Covered:
• Communication Field
• Meteorological Field
• Transportation Field
• Aerospace and Defense Field
• Photovoltaic Power Station
• User Solar Power
End Users Covered:
• Commercial
• Residential
• Industrial
• Consumer
• Civilian
• Government
• Military
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
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 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
Key Questions Answered In The Report
The Global Solar Battery Market is majorly driven by growing demand for sustainable energy storage solutions, growing concerns over the implication of burning fossils on the environment fuel and rising concerns regarding conventional power generation.
The industrial segment is growing at a highest CAGR to strong demand from various industrial end-users for additional energy storage solutions.
North America dominated with a significant market share due to the factors such the high degree of renewable penetration in the region, the need for reliable and uninterrupted power supply, and the aging grid infrastructure.
Asia Pacific market is growing at a highest CAGR owing to rise in concern from governments across emerging nations, such as South Korea, India, and China, regarding renewable energy storage.
Key players in Solar Battery Market include Carnegie Clean Energy, Samsung SDI, LG Chem, East Penn Manufacturing, Exide Technologies, Kokam.Co, HOPPECKE Batterien GmbH & Co. KG, Alpha Technologies, A123 Systems, Panasonic, Bosch Solar Energy, Radiant Solar Technology, First Solar and BAE Batterien.
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 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 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 Solar Battery Market, By Technology
5.1 Introduction
5.2 Flow Batteries
5.3 Sodium Based Batteries
5.4 Lead Acid Batteries
5.5 Lithium Ion (Li-Ion) Solar Batteries
6 Global Solar Battery Market, By Application
6.1 Introduction
6.2 Communication Field
6.3 Meteorological Field
6.4 Transportation Field
6.5 Aerospace and Defense Field
6.6 Photovoltaic Power Station
6.7 User Solar Power
7 Global Solar Battery Market, By End User
7.1 Introduction
7.2 Commercial
7.3 Residential
7.4 Industrial
7.5 Consumer
7.6 Civilian
7.7 Government
7.8 Military
8 Global Solar Battery Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Carnegie Clean Energy
10.2 Samsung SDI
10.3 LG Chem
10.4 East Penn Manufacturing
10.5 Exide Technologies
10.6 Kokam.Co
10.7 HOPPECKE Batterien GmbH & Co. KG
10.8 Alpha Technologies
10.9 A123 Systems
10.10 Panasonic
10.11 Bosch Solar Energy
10.12 Radiant Solar Technology
10.13 First Solar
10.14 BAE Batterien
List of Tables
1 Global Solar Battery Market Outlook, By Region (2019-2028) ($MN)
2 Global Solar Battery Market Outlook, By Technology (2019-2028) ($MN)
3 Global Solar Battery Market Outlook, By Flow Batteries (2019-2028) ($MN)
4 Global Solar Battery Market Outlook, By Sodium Based Batteries (2019-2028) ($MN)
5 Global Solar Battery Market Outlook, By Lead Acid Batteries (2019-2028) ($MN)
6 Global Solar Battery Market Outlook, By Lithium Ion (Li-Ion) Solar Batteries (2019-2028) ($MN)
7 Global Solar Battery Market Outlook, By Application (2019-2028) ($MN)
8 Global Solar Battery Market Outlook, By Communication Field (2019-2028) ($MN)
9 Global Solar Battery Market Outlook, By Meteorological Field (2019-2028) ($MN)
10 Global Solar Battery Market Outlook, By Transportation Field (2019-2028) ($MN)
11 Global Solar Battery Market Outlook, By Aerospace and Defense Field (2019-2028) ($MN)
12 Global Solar Battery Market Outlook, By Photovoltaic Power Station (2019-2028) ($MN)
13 Global Solar Battery Market Outlook, By User Solar Power (2019-2028) ($MN)
14 Global Solar Battery Market Outlook, By End User (2019-2028) ($MN)
15 Global Solar Battery Market Outlook, By Commercial (2019-2028) ($MN)
16 Global Solar Battery Market Outlook, By Residential (2019-2028) ($MN)
17 Global Solar Battery Market Outlook, By Industrial (2019-2028) ($MN)
18 Global Solar Battery Market Outlook, By Consumer (2019-2028) ($MN)
19 Global Solar Battery Market Outlook, By Civilian (2019-2028) ($MN)
20 Global Solar Battery Market Outlook, By Government (2019-2028) ($MN)
21 Global Solar Battery Market Outlook, By Military (2019-2028) ($MN)
22 North America Solar Battery Market Outlook, By Country (2019-2028) ($MN)
23 North America Solar Battery Market Outlook, By Technology (2019-2028) ($MN)
24 North America Solar Battery Market Outlook, By Flow Batteries (2019-2028) ($MN)
25 North America Solar Battery Market Outlook, By Sodium Based Batteries (2019-2028) ($MN)
26 North America Solar Battery Market Outlook, By Lead Acid Batteries (2019-2028) ($MN)
27 North America Solar Battery Market Outlook, By Lithium Ion (Li-Ion) Solar Batteries (2019-2028) ($MN)
28 North America Solar Battery Market Outlook, By Application (2019-2028) ($MN)
29 North America Solar Battery Market Outlook, By Communication Field (2019-2028) ($MN)
30 North America Solar Battery Market Outlook, By Meteorological Field (2019-2028) ($MN)
31 North America Solar Battery Market Outlook, By Transportation Field (2019-2028) ($MN)
32 North America Solar Battery Market Outlook, By Aerospace and Defense Field (2019-2028) ($MN)
33 North America Solar Battery Market Outlook, By Photovoltaic Power Station (2019-2028) ($MN)
34 North America Solar Battery Market Outlook, By User Solar Power (2019-2028) ($MN)
35 North America Solar Battery Market Outlook, By End User (2019-2028) ($MN)
36 North America Solar Battery Market Outlook, By Commercial (2019-2028) ($MN)
37 North America Solar Battery Market Outlook, By Residential (2019-2028) ($MN)
38 North America Solar Battery Market Outlook, By Industrial (2019-2028) ($MN)
39 North America Solar Battery Market Outlook, By Consumer (2019-2028) ($MN)
40 North America Solar Battery Market Outlook, By Civilian (2019-2028) ($MN)
41 North America Solar Battery Market Outlook, By Government (2019-2028) ($MN)
42 North America Solar Battery Market Outlook, By Military (2019-2028) ($MN)
43 Europe Solar Battery Market Outlook, By Country (2019-2028) ($MN)
44 Europe Solar Battery Market Outlook, By Technology (2019-2028) ($MN)
45 Europe Solar Battery Market Outlook, By Flow Batteries (2019-2028) ($MN)
46 Europe Solar Battery Market Outlook, By Sodium Based Batteries (2019-2028) ($MN)
47 Europe Solar Battery Market Outlook, By Lead Acid Batteries (2019-2028) ($MN)
48 Europe Solar Battery Market Outlook, By Lithium Ion (Li-Ion) Solar Batteries (2019-2028) ($MN)
49 Europe Solar Battery Market Outlook, By Application (2019-2028) ($MN)
50 Europe Solar Battery Market Outlook, By Communication Field (2019-2028) ($MN)
51 Europe Solar Battery Market Outlook, By Meteorological Field (2019-2028) ($MN)
52 Europe Solar Battery Market Outlook, By Transportation Field (2019-2028) ($MN)
53 Europe Solar Battery Market Outlook, By Aerospace and Defense Field (2019-2028) ($MN)
54 Europe Solar Battery Market Outlook, By Photovoltaic Power Station (2019-2028) ($MN)
55 Europe Solar Battery Market Outlook, By User Solar Power (2019-2028) ($MN)
56 Europe Solar Battery Market Outlook, By End User (2019-2028) ($MN)
57 Europe Solar Battery Market Outlook, By Commercial (2019-2028) ($MN)
58 Europe Solar Battery Market Outlook, By Residential (2019-2028) ($MN)
59 Europe Solar Battery Market Outlook, By Industrial (2019-2028) ($MN)
60 Europe Solar Battery Market Outlook, By Consumer (2019-2028) ($MN)
61 Europe Solar Battery Market Outlook, By Civilian (2019-2028) ($MN)
62 Europe Solar Battery Market Outlook, By Government (2019-2028) ($MN)
63 Europe Solar Battery Market Outlook, By Military (2019-2028) ($MN)
64 Asia Pacific Solar Battery Market Outlook, By Country (2019-2028) ($MN)
65 Asia Pacific Solar Battery Market Outlook, By Technology (2019-2028) ($MN)
66 Asia Pacific Solar Battery Market Outlook, By Flow Batteries (2019-2028) ($MN)
67 Asia Pacific Solar Battery Market Outlook, By Sodium Based Batteries (2019-2028) ($MN)
68 Asia Pacific Solar Battery Market Outlook, By Lead Acid Batteries (2019-2028) ($MN)
69 Asia Pacific Solar Battery Market Outlook, By Lithium Ion (Li-Ion) Solar Batteries (2019-2028) ($MN)
70 Asia Pacific Solar Battery Market Outlook, By Application (2019-2028) ($MN)
71 Asia Pacific Solar Battery Market Outlook, By Communication Field (2019-2028) ($MN)
72 Asia Pacific Solar Battery Market Outlook, By Meteorological Field (2019-2028) ($MN)
73 Asia Pacific Solar Battery Market Outlook, By Transportation Field (2019-2028) ($MN)
74 Asia Pacific Solar Battery Market Outlook, By Aerospace and Defense Field (2019-2028) ($MN)
75 Asia Pacific Solar Battery Market Outlook, By Photovoltaic Power Station (2019-2028) ($MN)
76 Asia Pacific Solar Battery Market Outlook, By User Solar Power (2019-2028) ($MN)
77 Asia Pacific Solar Battery Market Outlook, By End User (2019-2028) ($MN)
78 Asia Pacific Solar Battery Market Outlook, By Commercial (2019-2028) ($MN)
79 Asia Pacific Solar Battery Market Outlook, By Residential (2019-2028) ($MN)
80 Asia Pacific Solar Battery Market Outlook, By Industrial (2019-2028) ($MN)
81 Asia Pacific Solar Battery Market Outlook, By Consumer (2019-2028) ($MN)
82 Asia Pacific Solar Battery Market Outlook, By Civilian (2019-2028) ($MN)
83 Asia Pacific Solar Battery Market Outlook, By Government (2019-2028) ($MN)
84 Asia Pacific Solar Battery Market Outlook, By Military (2019-2028) ($MN)
85 South America Solar Battery Market Outlook, By Country (2019-2028) ($MN)
86 South America Solar Battery Market Outlook, By Technology (2019-2028) ($MN)
87 South America Solar Battery Market Outlook, By Flow Batteries (2019-2028) ($MN)
88 South America Solar Battery Market Outlook, By Sodium Based Batteries (2019-2028) ($MN)
89 South America Solar Battery Market Outlook, By Lead Acid Batteries (2019-2028) ($MN)
90 South America Solar Battery Market Outlook, By Lithium Ion (Li-Ion) Solar Batteries (2019-2028) ($MN)
91 South America Solar Battery Market Outlook, By Application (2019-2028) ($MN)
92 South America Solar Battery Market Outlook, By Communication Field (2019-2028) ($MN)
93 South America Solar Battery Market Outlook, By Meteorological Field (2019-2028) ($MN)
94 South America Solar Battery Market Outlook, By Transportation Field (2019-2028) ($MN)
95 South America Solar Battery Market Outlook, By Aerospace and Defense Field (2019-2028) ($MN)
96 South America Solar Battery Market Outlook, By Photovoltaic Power Station (2019-2028) ($MN)
97 South America Solar Battery Market Outlook, By User Solar Power (2019-2028) ($MN)
98 South America Solar Battery Market Outlook, By End User (2019-2028) ($MN)
99 South America Solar Battery Market Outlook, By Commercial (2019-2028) ($MN)
100 South America Solar Battery Market Outlook, By Residential (2019-2028) ($MN)
101 South America Solar Battery Market Outlook, By Industrial (2019-2028) ($MN)
102 South America Solar Battery Market Outlook, By Consumer (2019-2028) ($MN)
103 South America Solar Battery Market Outlook, By Civilian (2019-2028) ($MN)
104 South America Solar Battery Market Outlook, By Government (2019-2028) ($MN)
105 South America Solar Battery Market Outlook, By Military (2019-2028) ($MN)
106 Middle East & Africa Solar Battery Market Outlook, By Country (2019-2028) ($MN)
107 Middle East & Africa Solar Battery Market Outlook, By Technology (2019-2028) ($MN)
108 Middle East & Africa Solar Battery Market Outlook, By Flow Batteries (2019-2028) ($MN)
109 Middle East & Africa Solar Battery Market Outlook, By Sodium Based Batteries (2019-2028) ($MN)
110 Middle East & Africa Solar Battery Market Outlook, By Lead Acid Batteries (2019-2028) ($MN)
111 Middle East & Africa Solar Battery Market Outlook, By Lithium Ion (Li-Ion) Solar Batteries (2019-2028) ($MN)
112 Middle East & Africa Solar Battery Market Outlook, By Application (2019-2028) ($MN)
113 Middle East & Africa Solar Battery Market Outlook, By Communication Field (2019-2028) ($MN)
114 Middle East & Africa Solar Battery Market Outlook, By Meteorological Field (2019-2028) ($MN)
115 Middle East & Africa Solar Battery Market Outlook, By Transportation Field (2019-2028) ($MN)
116 Middle East & Africa Solar Battery Market Outlook, By Aerospace and Defense Field (2019-2028) ($MN)
117 Middle East & Africa Solar Battery Market Outlook, By Photovoltaic Power Station (2019-2028) ($MN)
118 Middle East & Africa Solar Battery Market Outlook, By User Solar Power (2019-2028) ($MN)
119 Middle East & Africa Solar Battery Market Outlook, By End User (2019-2028) ($MN)
120 Middle East & Africa Solar Battery Market Outlook, By Commercial (2019-2028) ($MN)
121 Middle East & Africa Solar Battery Market Outlook, By Residential (2019-2028) ($MN)
122 Middle East & Africa Solar Battery Market Outlook, By Industrial (2019-2028) ($MN)
123 Middle East & Africa Solar Battery Market Outlook, By Consumer (2019-2028) ($MN)
124 Middle East & Africa Solar Battery Market Outlook, By Civilian (2019-2028) ($MN)
125 Middle East & Africa Solar Battery Market Outlook, By Government (2019-2028) ($MN)
126 Middle East & Africa Solar Battery Market Outlook, By Military (2019-2028) ($MN)
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