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Global Residential Energy Storage Systems (RESSs) Battery Market Size study & Forecast, by Technology (Lead Acid Battery, Lithium-Ion Battery, Others), by Application (On-Grid, Off-Grid) and Regional Analysis, 2023-2030

May 2024 | 200 pages | ID: G17F2BA44269EN
Bizwit Research & Consulting LLP

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Global Residential Energy Storage Systems (RESSs) Battery Market is valued at approximately USD 719 million in 2022 and is anticipated to grow with a healthy growth rate of more than 21% over the forecast period 2023-2030. Residential Energy Storage Systems (RESSs) are designed for the storage of electricity that has been generated by non-exhaustible sources of energy such as wind turbines. Solar panels or hydroelectric power plants. The factor that drives the growth of the market is the increasing demand for electric vehicles as these are the major area for the usage of energy storage solutions which will increase the demand for them. As per Statista, the EV market is estimated to grow by 17.02% and the rate will increase YoY basis and the increasing rate of EVs will lead to an increase in demand for energy storage systems. The other factor that drives the growth of the market is Government incentives related to residential energy storage systems as many governments offer incentives for owners of homes to install RESSs. However, the high cost of the adoption of residential energy storage systems restrains the growth of the market. The factor which acts as an opportunity for the market is growth in the installation of solar PV modules as when there are power cuts, RESSs and PV solar modules can provide power backup. These systems can actually keep essential devices running. As per International Energy Agency, the growth of generation of power from Solar PV has marked 22% growth in 2021 from 2020 which will increase YoY basis and it will increase the demand for RESSs. Another factor that acts as a growth opportunity for the market is the growing demand for energy as the global demand for energy will increase in coming years and RESSs will help to help to balance the supply and demand of energy and thus will lead to an increase in demand of RESSs.

The key regions considered for the Global Residential Energy Storage Systems (RESSs)Battery Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Europe dominated the market in 2022 owing to the decreasing dependence on erratic power prices and to improve the usage of renewable energy generated on-site to boost the market for domestic energy storage. Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rapid economic growth in the region and the increase in expenditure by the government in the RESSds.

Major market player included in this report are:
Panasonic Holdings Corporation
LG Energy Solution Ltd.
Samsung SDI Co. Ltd.
Sonnen GmbH
Schneider Electric SE
Tesla Inc.
Huawei Technologies Co. Ltd.
Alpha ESS Co. Ltd.
Enphase Energy Inc.
Victron Energy B.V.

Recent Developments in the Market:
In September 2022, there was a partnership agreement between BYD Company and Victron Energy to determine whether the BYD Premium LVL / LVS and Victron inverters/chargers are compatible, and this task was successfully finished.
In Feb 2022, as a consequence of the cooperation, Enphase Energy Systems powered by IQTM Microinverters and IQTM Batteries will be able to take part in Swell's distributed, virtual power plant (VPP) programmes in California, New York, and Hawaii. This was announced as part of a partnership between Enphase Energy and Swell Energy.
Global Residential Energy Storage Systems (RESSs)Battery Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered – Technology, Application, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope - Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Technology:
Lead Acid Battery
Lithium-Ion Battery
Others

By Application:
On-Grid
Off-Grid

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
CHAPTER 1. EXECUTIVE SUMMARY

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Million)
  1.2.1. Residential Energy Storage Systems Market, by Region, 2020-2030 (USD Million)
  1.2.2. Residential Energy Storage Systems Market, by Technology, 2020-2030 (USD Million)
  1.2.3. Residential Energy Storage Systems Market, by Application, 2020-2030 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

CHAPTER 2. GLOBAL RESIDENTIAL ENERGY STORAGE SYSTEMS MARKET DEFINITION AND SCOPE

2.1. Objective of the Study
2.2. Market Definition & Scope
  2.2.1. Industry Evolution
  2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

CHAPTER 3. GLOBAL RESIDENTIAL ENERGY STORAGE SYSTEMS MARKET DYNAMICS

3.1. Residential Energy Storage Systems Market Impact Analysis (2020-2030)
  3.1.1. Market Drivers
    3.1.1.1. Increasing demand for EVs
    3.1.1.2. Government incentives related to RESSs
  3.1.2. Market Challenges
    3.1.2.1. High Cost for adoption of Residential Energy Storage Systems
  3.1.3. Market Opportunities
    3.1.3.1. Growth in installation of sola PV modules
    3.1.3.2. Growing demand for energy globally

CHAPTER 4. GLOBAL RESIDENTIAL ENERGY STORAGE SYSTEMS MARKET INDUSTRY ANALYSIS

4.1. Porter’s 5 Force Model
  4.1.1. Bargaining Power of Suppliers
  4.1.2. Bargaining Power of Buyers
  4.1.3. Threat of New Entrants
  4.1.4. Threat of Substitutes
  4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
  4.3.1. Political
  4.3.2. Economical
  4.3.3. Social
  4.3.4. Technological
  4.3.5. Environmental
  4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion

CHAPTER 5. GLOBAL RESIDENTIAL ENERGY STORAGE SYSTEMS MARKET, BY TECHNOLOGY

5.1. Market Snapshot
5.2. Global Residential Energy Storage Systems Market by Technology, Performance - Potential Analysis
5.3. Global Residential Energy Storage Systems Market Estimates & Forecasts by Technology 2020-2030 (USD Million)
5.4. Residential Energy Storage Systems Market, Sub Segment Analysis
  5.4.1. Lead Acid Battery
  5.4.2. Lithium-Ion Battery
  5.4.3. Others

CHAPTER 6. GLOBAL RESIDENTIAL ENERGY STORAGE SYSTEMS MARKET, BY APPLICATION

6.1. Market Snapshot
6.2. Global Residential Energy Storage Systems Market by Application, Performance - Potential Analysis
6.3. Global Residential Energy Storage Systems Market Estimates & Forecasts by Application 2020-2030 (USD Million)
6.4. Residential Energy Storage Systems Market, Sub Segment Analysis
  6.4.1. On-Grid
  6.4.2. Off-Grid

CHAPTER 7. GLOBAL RESIDENTIAL ENERGY STORAGE SYSTEMS MARKET, REGIONAL ANALYSIS

7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Residential Energy Storage Systems Market, Regional Market Snapshot
7.4. North America Residential Energy Storage Systems Market
  7.4.1. U.S. Residential Energy Storage Systems Market
    7.4.1.1. Technology breakdown estimates & forecasts, 2020-2030
    7.4.1.2. Application breakdown estimates & forecasts, 2020-2030
  7.4.2. Canada Residential Energy Storage Systems Market
7.5. Europe Residential Energy Storage Systems Market Snapshot
  7.5.1. U.K. Residential Energy Storage Systems Market
  7.5.2. Germany Residential Energy Storage Systems Market
  7.5.3. France Residential Energy Storage Systems Market
  7.5.4. Spain Residential Energy Storage Systems Market
  7.5.5. Italy Residential Energy Storage Systems Market
  7.5.6. Rest of Europe Residential Energy Storage Systems Market
7.6. Asia-Pacific Residential Energy Storage Systems Market Snapshot
  7.6.1. China Residential Energy Storage Systems Market
  7.6.2. India Residential Energy Storage Systems Market
  7.6.3. Japan Residential Energy Storage Systems Market
  7.6.4. Australia Residential Energy Storage Systems Market
  7.6.5. South Korea Residential Energy Storage Systems Market
  7.6.6. Rest of Asia Pacific Residential Energy Storage Systems Market
7.7. Latin America Residential Energy Storage Systems Market Snapshot
  7.7.1. Brazil Residential Energy Storage Systems Market
  7.7.2. Mexico Residential Energy Storage Systems Market
7.8. Middle East & Africa Residential Energy Storage Systems Market
  7.8.1. Saudi Arabia Residential Energy Storage Systems Market
  7.8.2. South Africa Residential Energy Storage Systems Market
  7.8.3. Rest of Middle East & Africa Residential Energy Storage Systems Market

CHAPTER 8. COMPETITIVE INTELLIGENCE

8.1. Key Company SWOT Analysis
  8.1.1. Company
  8.1.2. Company
  8.1.3. Company
8.2. Top Market Strategies
8.3. Company Profiles
  8.3.1. Panasonic Holdings Corporation
    8.3.1.1. Key Information
    8.3.1.2. Overview
    8.3.1.3. Financial (Subject to Data Availability)
    8.3.1.4. Product Summary
    8.3.1.5. Recent Developments
  8.3.2. LG Energy Solution Ltd.
  8.3.3. Samsung SDI Co. Ltd.
  8.3.4. Sonnen GmbH
  8.3.5. Scheinder Electric SE
  8.3.6. Tesla Inc.
  8.3.7. Huawei technologies Inc.
  8.3.8. Alpha ESS Co. Ltd.
  8.3.9. Enphase Energy Incorporation
  8.3.10. Victron Energy B.V.

CHAPTER 9. RESEARCH PROCESS

9.1. Research Process
  9.1.1. Data Mining
  9.1.2. Analysis
  9.1.3. Market Estimation
  9.1.4. Validation
  9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

LIST OF TABLES

TABLE 1. Global Residential Energy Storage Systems Market, report scope
TABLE 2. Global Residential Energy Storage Systems Market estimates & forecasts by Region 2020-2030 (USD Million)
TABLE 3. Global Residential Energy Storage Systems Market estimates & forecasts by Technology 2020-2030 (USD Million)
TABLE 4. Global Residential Energy Storage Systems Market estimates & forecasts by Application 2020-2030 (USD Million)
TABLE 5. Global Residential Energy Storage Systems Market by segment, estimates & forecasts, 2020-2030 (USD Million)
TABLE 6. Global Residential Energy Storage Systems Market by region, estimates & forecasts, 2020-2030 (USD Million)
TABLE 7. Global Residential Energy Storage Systems Market by segment, estimates & forecasts, 2020-2030 (USD Million)
TABLE 8. Global Residential Energy Storage Systems Market by region, estimates & forecasts, 2020-2030 (USD Million)
TABLE 9. Global Residential Energy Storage Systems Market by segment, estimates & forecasts, 2020-2030 (USD Million)
TABLE 10. Global Residential Energy Storage Systems Market by region, estimates & forecasts, 2020-2030 (USD Million)
TABLE 11. Global Residential Energy Storage Systems Market by segment, estimates & forecasts, 2020-2030 (USD Million)
TABLE 12. Global Residential Energy Storage Systems Market by region, estimates & forecasts, 2020-2030 (USD Million)
TABLE 13. Global Residential Energy Storage Systems Market by segment, estimates & forecasts, 2020-2030 (USD Million)
TABLE 14. Global Residential Energy Storage Systems Market by region, estimates & forecasts, 2020-2030 (USD Million)
TABLE 15. U.S. Residential Energy Storage Systems Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 16. U.S. Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 17. U.S. Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 18. Canada Residential Energy Storage Systems Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 19. Canada Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 20. Canada Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 21. UK Residential Energy Storage Systems Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 22. UK Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 23. UK Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 24. Germany Residential Energy Storage Systems Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 25. Germany Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 26. Germany Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 27. France Residential Energy Storage Systems Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 28. France Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 29. France Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 30. Italy Residential Energy Storage Systems Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 31. Italy Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 32. Italy Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 33. Spain Residential Energy Storage Systems Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 34. Spain Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 35. Spain Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 36. RoE Residential Energy Storage Systems Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 37. RoE Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 38. RoE Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 39. China Residential Energy Storage Systems Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 40. China Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 41. China Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 42. India Residential Energy Storage Systems Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 43. India Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 44. India Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 45. Japan Residential Energy Storage Systems Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 46. Japan Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 47. Japan Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 48. South Korea Residential Energy Storage Systems Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 49. South Korea Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 50. South Korea Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 51. Australia Residential Energy Storage Systems Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 52. Australia Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 53. Australia Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 54. RoAPAC Residential Energy Storage Systems Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 55. RoAPAC Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 56. RoAPAC Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 57. Brazil Residential Energy Storage Systems Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 58. Brazil Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 59. Brazil Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 60. Mexico Residential Energy Storage Systems Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 61. Mexico Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 62. Mexico Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 63. RoLA Residential Energy Storage Systems Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 64. RoLA Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 65. RoLA Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 66. Saudi Arabia Residential Energy Storage Systems Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 67. South Africa Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 68. RoMEA Residential Energy Storage Systems Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 69. List of secondary sources, used in the study of global Residential Energy Storage Systems Market
TABLE 70. List of primary sources, used in the study of global Residential Energy Storage Systems Market
TABLE 71. Years considered for the study
TABLE 72. Exchange rates considered
List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1. Global Residential Energy Storage Systems Market, research methodology
FIG 2. Global Residential Energy Storage Systems Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Residential Energy Storage Systems Market, key trends 2022
FIG 5. Global Residential Energy Storage Systems Market, growth prospects 2023-2030
FIG 6. Global Residential Energy Storage Systems Market, porters 5 force model
FIG 7. Global Residential Energy Storage Systems Market, pest analysis
FIG 8. Global Residential Energy Storage Systems Market, value chain analysis
FIG 9. Global Residential Energy Storage Systems Market by segment, 2020 & 2030 (USD Million)
FIG 10. Global Residential Energy Storage Systems Market by segment, 2020 & 2030 (USD Million)
FIG 11. Global Residential Energy Storage Systems Market by segment, 2020 & 2030 (USD Million)
FIG 12. Global Residential Energy Storage Systems Market by segment, 2020 & 2030 (USD Million)
FIG 13. Global Residential Energy Storage Systems Market by segment, 2020 & 2030 (USD Million)
FIG 14. Global Residential Energy Storage Systems Market, regional snapshot 2020 & 2030
FIG 15. North America Residential Energy Storage Systems Market 2020 & 2030 (USD Million)
FIG 16. Europe Residential Energy Storage Systems Market 2020 & 2030 (USD Million)
FIG 17. Asia pacific Residential Energy Storage Systems Market 2020 & 2030 (USD Million)
FIG 18. Latin America Residential Energy Storage Systems Market 2020 & 2030 (USD Million)
FIG 19. Middle East & Africa Residential Energy Storage Systems Market 2020 & 2030 (USD Million)
List of tables and figures and dummy in nature, final lists may vary in the final deliverable


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