The global market for Residential Energy Storage is estimated at US$13.6 Billion in 2023 and is projected to reach US$55.3 Billion by 2030, growing at a CAGR of 22.2% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the residential energy storage market is driven by several factors. Firstly, the decreasing cost of battery technology is making energy storage more accessible to a broader range of consumers. Secondly, government incentives and policies supporting renewable energy and storage solutions are promoting market adoption. Thirdly, the increasing need for energy reliability and resilience in the face of grid disruptions is boosting demand for home storage systems. Lastly, technological advancements in battery efficiency, smart home integration, and energy management are enhancing the functionality and attractiveness of residential energy storage solutions. These factors collectively contribute to the dynamic growth of the residential energy storage market.
The growth in the residential energy storage market is driven by several factors. Firstly, the decreasing cost of battery technology is making energy storage more accessible to a broader range of consumers. Secondly, government incentives and policies supporting renewable energy and storage solutions are promoting market adoption. Thirdly, the increasing need for energy reliability and resilience in the face of grid disruptions is boosting demand for home storage systems. Lastly, technological advancements in battery efficiency, smart home integration, and energy management are enhancing the functionality and attractiveness of residential energy storage solutions. These factors collectively contribute to the dynamic growth of the residential energy storage market.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Lithium-Ion Technology segment, which is expected to reach US$47.7 Billion by 2030 with a CAGR of a 23.8%. The LeAd-acid Technology segment is also set to grow at 16.4% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $4.1 Billion in 2023, and China, forecasted to grow at an impressive 25.9% CAGR to reach $8.3 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Residential Energy Storage Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Residential Energy Storage Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Residential Energy Storage Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as ABB Ltd., Eaton Corporation PLC, Delta Electronics, Inc., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 103 Featured):
- ABB Ltd.
- Eaton Corporation PLC
- Delta Electronics, Inc.
- BYD Co., Ltd.
- Enphase Energy, Inc.
- Diamond Electric Mfg. Co., Ltd.
- Eguana Technologies, Inc.
- Echogen Power Systems LLC
- Contemporary Amperex Technology Co., Limited
- Envision Group
- EnergySage
- AZELIO AB
- Enapter Srl
- Electriq Power
- Balqon Corporation
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
REST OF EUROPE
ASIA-PACIFIC
REST OF WORLD
Companies Mentioned
- ABB Ltd.
- Eaton Corporation PLC
- Delta Electronics, Inc.
- BYD Co., Ltd.
- Enphase Energy, Inc.
- Diamond Electric Mfg. Co., Ltd.
- Eguana Technologies, Inc.
- Echogen Power Systems LLC
- Contemporary Amperex Technology Co., Limited
- Envision Group
- EnergySage
- AZELIO AB
- Enapter Srl
- Electriq Power
- Balqon Corporation
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 371 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 13.6 Billion |
| Forecasted Market Value ( USD | $ 55.3 Billion |
| Compound Annual Growth Rate | 22.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
